STOCK MARKETS EDGE LOWER IN CHOPPY TRADE

Mumbai (PTI): Equity benchmark indices Sensex and Nifty ended marginally lower in a highly volatile trade on Tuesday as investors preferred to stay cautious ahead of the release of minutes of the Federal Open Market Committee (FOMC) meeting.

The BSE Sensex edged down 18.82 points or 0.03% to settle at 60,672.72. The NSE Nifty slipped 17.90 points or 0.1% to end at 17,826.70.

From the Sensex pack, Tata Motors, Sun Pharma, Wipro, TCS, UltraTech Cement, Tech Mahindra were the major laggards.

E-vehicle sales went up by 28.86% in Q4 2022

First India Bureau New Delhi : The sale of electric vehicles rose 28.86% QoQ in Q4 2022 (October-December), according to a latest report of JMK Research.

The report claimed that a total of 3,57,248 EVs were sold in the quarter, the majority of which were electric two-wheelers. While registered E2W sales accounted for 65.13% of total EV sales this quarter, E3W (cargo and passenger combined) accounted for a share of 30.32%, the report said.

As per the report, nine electric two-wheeler models, six electric threewheeler models, and five electric cars were launched in the quarter, while over 26,000 charge points were set up by the end of Q4 2022 in India.

Uttar Pradesh accounted for a majority sales share (14.33%) this quarter as well, followed by Maharashtra (13.78%).

RUPEE FALLS 9 PAISE TO CLOSE AT 82.82 AGAINST US DOLLAR

Mumbai (PTI): The rupee depreciated 9 paise to close at 82.82 (provisional) against the US dollar on Tuesday. At the interbank foreign exchange market, the rupee opened at 82.76 against the greenback and finally settled for the day at 82.82 (provisional), registering a fall of 9 paise over its previous close of 82.73.

 The country’s merchandise and services exports touched an all-time high of $422 billion and $254 billion, respectively, in 2021-22

 During April-Jan this fiscal, goods exports rose to $369.25 bn & services exports are estimated to touch $272 bn en by the IT industry, has created a potential not only in terms of jobs, giving value to talent, but also providing India with an opportunity to showcase to the world its strengths, he said.

Govt focussing on production of high value pharma

New Delhi (PTI): The government is taking steps to produce “high value pharmaceuticals” in the country to reduce import dependency for such critical articles, Union Minister Mansukh Mandaviya said.

Manufacturing of components of high-end medical devices in the country will be another big step in moving towards self reliance. “Working on the vision of reducing import dependency through indigenous production, the govt is focussing on production of high value pharmaceuticals and high-end medical devices,” he said.

In Next Two Years

Flour millers were advised to bring down the prices of atta and other products in line with the reduction in market prices of wheat.

Other Stories

Out of the 30 lakh tonnes, the FCI is selling 25 lakh tonnes to bulk consumers like flour millers through e-auction and 2 lakh tonnes to states/UTs.

RCAP RESOLUTION: NCLAT CONCLUDES HEARING, RESERVES ORDER OVER LENDERS PLEA

New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Tuesday concluded its hearing and reserved its order over the petition filed by lenders of Reliance Capital seeking a second round of financial bids for the debt-ridden firm, presently going through the insolvency resolution process. Senior advocate Mukul Rohatgi, representing Torrent Investments concluded his arguments and submitted that the Insolvency & Bankruptcy Code (IBC) intends for maximisation of the value, but the focus should be on the revival of the assets. —PTI

TELCOS' BODY COAI BATS FOR MORE 5G SPECTRUM

New Delhi: Industry body COAI on Tuesday made a strong pitch for setting aside mid band 6GHz spectrum for mobile operators, saying it is critical for proliferation of 5G services, and delicensing it to “use for all” will impact quality and cost of next generation services. Radiowaves in 6GHz is a sweetspot for telecom service providers as current spectrum in the mid band is “woefully short of requirement of telcos”. Also, 6GHz, with its propagation qualities, will be ideal for densely populated areas, specially urban locations. —PTI

WHEAT CROP REACHES VEGETATIVE PHASE IN MP, PARTS OF PUNJAB

New Delhi: Wheat crop has reached the maximum vegetative stage in Madhya Pradesh, parts of Punjab and Haryana, according to the Mahalanobis National Crop Forecast Centre (MNCFC). Whereas in eastern Uttar Pradesh and Bihar, wheat crop is yet to reach the maximum vegetative phase due to delay in sowing, it said in its latest report. The life cycle of a wheat plant is divided into three main development phases, namely the vegetative phase, in which leafs and tillers are developed; the reproductive phase, and the grain fill stage. —PTI

USE OF TECHNOLOGY IN EDUCATION IMPROVING ACADEMIC RESULTS: BYJU'S CO-FOUNDER

Gurugram: Penetration of technology in the education sector is giving improved academic results, Divya Gokulnath, Co-Founder of BYJU’s, said on Tuesday. Edtech is an area which has seen growth, especially since Covid-19. The use of technology in education is delivering improved academic results, she said. On the contribution of BYJU’s, she said the ed-tech company has close to 7.5 million paying customers and another 5.5 million students from the remotest part of the country who are being given online learning for free. The Bengaluru-based company provides early learning, middle school education and test preparation, among others. —PTI

44% people want to move into new home

New Delhi (PTI): Nearly 45% of Indian respondents plan to move into a new home over the next two years and most of them, including millennials, want to purchase residential properties instead of renting, acc to a survey.

Based on the survey, property consultant CBRE India released a report ‘Voices from India: How will people live, work and shop in the future?’.

The sample size of the global survey was more than 20,000 people, of which 1,500 were from India across age groups --

Gen Z (Age 18-25), Late Millennials (Age 26-33), Early Millennials (Age 34-41), Gen X (Age 42-57) and Baby

Major Findings

 The survey found that respondents display a stronger intention to move to a new home in the next two years (44% as against 31% in the last two years)

 As per the report, 72% of respondents planning to move in the next two years would prefer to buy a house than rent one

Boomers (Age 58+).

The survey found that respondents display a stronger intention to move to a new home in the next two years (44% as against 31% in the previous two years).