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Indian Sector Specific News:

A) Indian BFSI:

1) Banking Sector Mutual Funds Deliver Single-Digit Returns in 2024

  • Banking sector mutual funds are the only category with single-digit returns in 2024, delivering an average return of 8.93%.
  • Among these, Invesco India Financial Services Fund led with an 18.18% return, while SBI's financial services fund followed closely with 17.91%.
  • Other top-performing funds in this category included Bandhan Financial Services Fund at 16.97% and DSP Banking & Financial Services Fund at 15.42%.
  • Source: Economic Times
B) Indian Automobile:

1) Top Hatchbacks by Sales in September 2024
  • Maruti Suzuki Swift led hatchback sales with over 16,000 units, while other Maruti models like Baleno, Wagon R, and Alto followed.
  • Hyundai’s Grand i10 Nios rounded out the top five, though most hatchbacks saw reduced demand due to the rise in micro-SUVs.
  • Overall, the hatchback segment faced a slight drop in sales in September.
  • Source: Republic World
2) New Maruti Dzire Launch on November 11 with Upgraded Features
  • Maruti Suzuki will launch the new Dzire sedan on November 11, featuring a refreshed design and premium touches, including a distinct look from the Swift.
  • Key additions include a sunroof, 9-inch touchscreen, automatic climate control, and potentially ADAS in higher variants; power options include petrol and petrol-CNG engines.
  • Competing with models like Hyundai Aura and Honda Amaze, the new Dzire may see a slight price increase, with bookings expected in mid-November.
  • Source: KalingaIndia
3) Kia Carnival and Kia EV9 Garner Strong Demand in India
  • The new Kia Carnival, launched in October, has received over 3,000 bookings, leading to a nearly one-year waiting period. The premium MPV, priced from Rs 63.9 lakh, includes features like a dual-pane sunroof, Bose sound system, and ADAS.
  • Kia also launched the EV9 electric SUV at Rs 1.3 crore. This flagship model offers a 561 km range, 384 hp power, and advanced features like AWD and a 10-80% charging time of 24 minutes using a 350kW fast charger.
  • Source: kalingatv
C) Indian Pharma:

1) India's Medical Device Industry Positioned as Global Manufacturing Hub
  • India’s medical device sector has evolved into a global manufacturing leader, driven by government initiatives, regulatory reforms, and a skilled engineering workforce equipped with advanced technology.
  • Large Indian manufacturing companies, historically focused on automotive and electronics, are now investing in the medical materials sector, adding expertise and innovation to the medical device industry.
  • Enhanced precision manufacturing, quality control, and adherence to international standards position India as a trusted source for reliable and efficient medical devices globally.
  • Source: Economic Times
2) Mira Pharmaceuticals Reports Preclinical Success with Ketamir-2
  • Mira Pharmaceuticals' ketamine analog, Ketamir-2, demonstrated 60% higher efficacy than gabapentin in preclinical trials for neuropathic pain, highlighting its potential as a breakthrough treatment.
  • The company is expanding studies on Ketamir-2 for diabetic neuropathy and PTSD, with plans to file an IND application by the end of 2024 and start Phase 1 trials in 2025.
  • Mira’s solid cash reserves, but weak profit margins, underscore the importance of Ketamir-2's development for the company's financial health and growth potential.
  • Source: Investing.com

D) Indian Telecommunication:

1) Cyclone Dana: Power Supply Restored to 14.8 Lakh Consumers in 12 Hours
  • Cyclone Dana disrupted electricity for over 22 lakh families, but power was quickly restored for 14.8 lakh within 12 hours.
  • Out of 106 high-voltage lines affected, 72 were fixed, along with 504 out of 909 medium-voltage lines; 90% of transformers are back online.
  • Tata Power in Odisha deployed 15,000 linemen and engineers, aiming to fully restore power by Saturday morning.
  • Source: NewIndianExpress
E) Indian Agriculture:

1) Inauguration of BRIC-NABI Institute in Mohali
  • The BRIC-National Agri-Food Biomanufacturing Institute will be launched in Mohali by Union Science Minister Dr. Jitendra Singh, focusing on high-yield crops and sustainable farming.
  • An incubation center will also open to help young entrepreneurs and farmers innovate in agriculture and bioprocessing.
  • Source: PIB Chandigarh
2) Many Farmers in Telangana Are Leaving Agriculture
  • A recent survey shows that only 55% of farmers in Telangana are still engaged in agriculture, with many seeking jobs in service sectors due to low incomes averaging Rs 13,000 per month.
  • Experts believe the number of farming households quitting agriculture is higher than reported, influenced by rising costs and a shift towards education and better job opportunities among younger generations.
  • Source: Times of India
F) Indian Energy:

1) Industry Leaders to Discuss Energy Digital Transformation
  • Top leaders from the energy sector will gather at the ET EnergyWorld Smart Energy Summit to outline a growth roadmap focusing on AI, IoT, and digital transformation in the energy industry.
  • Panelists include Dwarka Srinath, Chief Digital & Information Officer, among other prominent figures.
  • Source: Economic Times
2) Union Minister Advocates for Renewable Energy in Andaman and Nicobar Islands
  • Union Power Minister Manohar Lal has urged the Andaman and Nicobar Islands administration to increase renewable energy use, particularly wind energy, and reduce reliance on diesel generators to lower energy costs.
  • He also encouraged exploring alternative energy sources like ethanol-based fuel and emphasized the need for timely settlement of government dues to improve power transmission efficiency.
  • Source: Economic Times
3) India's Oil Demand Expected to Rise with Festivals and Elections
  • S&P Global Commodity Insights forecasts that India's oil demand may increase by 3.5-4% in Q4 2024, driven by festive activities, agricultural needs, and transportation for upcoming elections.
  • Despite a 2% decline in diesel demand due to heavy monsoon rains, gasoline consumption rose by 3%, with additional boosts expected from the marriage season and increased automobile sales.
  • Source: Economic Times
G) Indian FMGC:

1) Global Brands Report Mixed Sales in India Amid Strong Premium Demand
  • Major companies like Unilever and Coca-Cola have noted a temporary decline in sales of daily essentials in India, while premium and discretionary products are seeing strong demand.
  • Executives from various firms, including Coca-Cola and Whirlpool, remain optimistic about future growth, citing rising income levels and urbanization as key drivers for higher-end goods.
  • Source: Economic Times
2) Surge in Industrial & Logistics Leasing: A 48% Growth in Q3 2024
  • The Industrial & Logistics (I&L) sector in India experienced a notable 48% increase in leasing activity in Q3 2024, with Delhi-NCR, Kolkata, and Hyderabad leading the growth. 
  • From January to September 2024, domestic corporations dominated leasing, accounting for 82% of the activity. 
  • New supply was primarily concentrated in Chennai, Bengaluru, and Delhi-NCR, reflecting a robust demand in these regions.
  • Source: Economic Times
H) Indian Infrastructure:

1) Nikhil Kamath Questions Potential for Real Estate Crash in India
  • Zerodha co-founder Nikhil Kamath raised concerns about the possibility of a real estate price crash in India, given the steady price increases over recent years.
  • In response, Irfan Razack, Chairman of Prestige Group, stated that due to demographic growth and urbanization, real estate prices in India are unlikely to ever fall, indicating decades of demand ahead.
  • Source: livemint
2) Ceigall 2.0 Launches Promising Future Ahead
  • Ceigall India, a company with nearly 23 years in the industry, is embarking on its next phase, Ceigall 2.0, focusing on building infrastructure that supports road development.
  • Managing Director Ramneek Sehgal emphasizes the company's commitment to enhancing transportation infrastructure.
  • Source: Construction World
I) Indian IT:

1) Germany Looks to India for Skilled Workers
  • German Foreign Minister has highlighted India's potential to help meet Germany's growing demand for skilled workers.
  • This collaboration could enhance workforce capabilities in Germany while providing opportunities for Indian professionals.
  • Source: Economic Times
Indian Economy and Government Initiatives:

1) Private Sector Encouraged to Invest in India
  • Union Finance Minister Nirmala Sitharaman stated that there are no restrictions preventing private businesses from entering the Indian market, highlighting ongoing reforms to improve the ease of doing business.
  • She emphasized that the Indian government is open to private investment across all sectors, including banking and insurance, with many foreign firms already operating successfully in India.
  • Source: Economic Times
2) Insights from 2nd Webinar on Public Policy and Good Governance
  • The National Centre for Good Governance (NCGG) and IIT Kanpur held a webinar on October 24, 2024, discussing challenges in public policy and the impact of digitization in networking, featuring esteemed speakers Dr. Ajay Kumar and Prof. Vimal Kumar.
  • Dr. Ajay Kumar highlighted the evolving role of the Government of India in policy-making, emphasizing the importance of stakeholder involvement and phased implementation of changes, while also discussing the digitization of land records for better decision-making.
  • Prof. Vimal Kumar focused on platform business models in the digital economy, illustrating their significance for successful businesses through various examples, including a comparison between BMW and Uber.
  • Source: PIB Delhi


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