October Auto Sales Skid Over Supply Chain Woes; PM Modi addresses the top of the Cop26 and more

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October became the best month for domestic air traffic since air travel resumed following the COVID-19 ban in 2020. Major automakers Maruti Suzuki and Hyundai saw double-digit sales decline in October due to the global semiconductor shortage affecting production. Prime Minister Narendra Modi said climate adaptation is not as important as mitigation in the international climate debate, which is an injustice for vulnerable countries, here is some news of the day

ECONOMY / BUSINESS

Indian manufacturing activities strengthen again in October

Activities in India’s manufacturing sector strengthened further in October, as companies increased output and stepped up input purchases in anticipation of further improving demand, a monthly survey reported on Monday. Strong gains in new jobs helped output growth in October, with output and new orders growing at the fastest pace in seven months, while business optimism peaked in six months, according to investigation. Read more

October emerges as the best month for domestic air traffic

October has emerged as the best month for domestic air traffic since air travel resumed following the COVID-19 ban in 2020. However, the sector still has some way to go to hit pre-pandemic levels . Read more

October auto sales: Bajaj Auto, lower sales of Maruti Suzuki; Tata Motors and Ashok Leyland impress

Major automakers Maruti Suzuki and Hyundai saw double-digit sales decline in October due to the global semiconductor shortage affecting production. Kia India, Honda Cars and MG Motor also saw lower shipments last month compared to October 2020. Read more

MARKETS

Nykaa IPO subscribed 82 times on the last day

Nykaa’s initial public offering (IPO) was subscribed 81.8 times on Monday, the last day of the bidding process. Nykaa’s public offering, to raise more than Rs 5,350 crore, was opened for subscription on Thursday October 28 and closed on November 1. Find out more

Nifty Won’t Go Below 16,500, Says Rakesh Jhunjhunwala

The big bull, Rakesh Jhunjhunwala of Rare Enterprises believes the market will not correct more than 10% of its value. In an interview with CNBC-TV18’s Sonia Shenoy and Prashant Nair, Jhunjhunwala said he did not expect Nifty to drop below 16,500. He added that India is at the start of a long real estate bull cycle. Read more

IRCTC Q2 Results: Net Profit Increases Five Times To Rs 159 Crore

Indian Railway Catering and Tourism Corporation (IRCTC) – a unit of Indian Railways – on Monday reported net profit of Rs 158.6 crore for the quarter ended in September. This was nearly five times its net profit of Rs 32.6 crore for the corresponding period a year ago. Read more

INDIA

PM Modi addresses the summit of COP26

Prime Minister Narendra Modi said on Monday that climate adaptation was not as important as mitigation in the international climate debate, which is an injustice for vulnerable countries. Read on

The center decides to resume the biometric presence from November 8

The Union government has decided to resume biometric presence for employees of all levels from November 8. Read more

Australia recognizes Bharat Biotech’s Covaxin for travelers

The Australian government on Monday recognized Bharat Biotech’s Covaxin in an attempt to establish a traveler’s vaccine status against COVID-19. Continue reading

INTERNATIONAL

Japanese Prime Minister Kishida surprises with comfortable election victory

Japanese Prime Minister Fumio Kishida on Monday prepared to tackle major political decisions, including trying to pass a supplementary budget, after leading his ruling party to a surprisingly strong election victory to solidify its standing within of a cranky party. Continue reading

Wait until the visa appointment is longer: U.S. Embassy

The U.S. Embassy in New Delhi said there will be wait times for important appointments for certain categories of non-immigrant visas as it recovers from COVID-19 related disruptions . Read on

New COVID-19 restrictions imposed on Beijing

The Chinese capital Beijing further tightened measures on Monday to contain the recent spike in COVID-19 cases, asking residents who have traveled to other parts of the country who have reported an increase to postpone their return plans as residents cases continued to increase nationwide, raising concerns about the effectiveness of the Zero-COVID policy. Read on

You and me

Dhanteras 2021: here’s why you should invest in gold this Diwali

Buying gold is considered opportune during Dhanteras – the first day of the Diwali festival. Buying and supplying the yellow metal during the festival is common for all ages and income groups, which often leads to the demand for gold reaching its annual peak around this time. Read more

JioPhone Next can be purchased from EMI as low as Rs 300; know the details of the plan and how to book

Reliance Jio and Google will start selling their affordable Diwali JioPhone Next smartphone at an upfront payment of Rs 1,999 and easy equivalent monthly payment options starting at Rs 300. Reliance offers data and calling benefits as well as plans financing that reduce the overall cost of the new device. Read more

(Edited by : Anshul, Aditi Gautam)

First publication: STI

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