Coal India’s output rises nearly 20%

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⭐ Coal India’s output rises nearly 20%

State-owned Coal India continues to maintain a double-digit production rate in FY23. So far this fiscal, the company has produced 299 million tonnes (MTs) of coal, a growth of 19.7% year-on-year (YoY). Buoyed by increased production, supplies to power plants have also risen sharply. 

⭐Two-wheeler sales zoom ahead

Two-wheeler makers reported robust sales numbers in September. TVS Motors’ total two-wheeler sales grew by 9% YoY to 3.6 lakh units. Meanwhile, sales of Hero MotoCorp were at 5.1 lakh units, down 2.1% YoY. However, sales grew by 12.4% compared to the previous month. Managements of both the companies expect robust demand in the coming weeks aided by normal monsoon and the festive season.

⭐FIIs turn cautious in September

Foreign investors are once again taking cautious bets on the Indian markets. After infusing funds in the previous two months, FIIs turned net sellers in September by withdrawing investments worth ₹7,600 crore from the Indian equities. As per market experts, rising interest rates in the US and the sharp fall in Indian rupee may have led to the outflow.

Global markets (at 7:30 AM today)

Fact of the day

For the first time, India has made it to the top 40 countries at the Global Innovation Index. In 2021, India stood at the 46th rank.

Source: Economic Times