The industrial output rose in August as the Index of Industrial Production (#IIP) increased by 10.3%, showed the official data released by the National Statistical Office (NSO) on Thursday.

In August 2022, the IIP had contracted by 0.7%. The manufacturing sector's output increased by 9.3% in August 2023.

Read here: https://www.livemint.com/industry/manufacturing/factory-output-iip-rises-by-10-3-in-august-11697111376933.html

#HCLTechnologies announced its July-September quarter results for fiscal 2023-24 (Q2FY24), reporting a rise of 9.8% in its consolidated net profit at ₹3,832 crore, compared to ₹3,489 crore in the corresponding period last year.

Read here: https://www.read.ht/Q9XL

Two months after elevating to its 15-months peak level, India's retail inflation cooled down further in the month of September.

Its #Retailinflation, aka #CPI, eased to a three-month low in September on the back of softer vegetable prices. Moreover, the inflation came below RBI's upper tolerance band of 2%-6%.

Read here: https://www.read.ht/Q9Xw

#MintCharts | #Retailinflation eased to a three-month low of 5.02% in September, according to government data. The inflation has come back to the #RBI's comfort level of below 6% after a gap of two months.

#PersonalFinance | #Tax benefit is another reason why people prefer real estate. If you buy a property with a housing loan, you get tax benefit under section 80-C of the Income Tax Act on the principal amount, paid in #EMIs in a financial year. Section 24b allows deduction of interest thus paid - ✍writes Aprajita Sharma

Read more: https://www.livemint.com/money/personal-finance/why-some-millennials-believe-property-investment-is-hot-11697115484067.html#:~:text=Tax%20benefit%20is%20another%20reason,deduction%20of%20interest%20thus%20paid

#PersonalFinance | Whether you are planning overseas travel or want to send money abroad, it is always a good idea to shop around for the best #forex exchange rate.

Here is a list of INR to USD forex rates offered by some of the major banks & travel aggregators.

#Exports in September decline to USD 34.47 bn as against USD 35.39 bn in September 2022, says the government data.

September exports down 2.6% at $34.5 bn vs $35.4 bn (YoY), imports fall 15% YoY

Read more: https://www.livemint.com/economy/indian-exports-decline-by-2-6-pc-yoy-to-35-39-billion-in-september-11697186218601.html

While India's overall macroeconomic environment is “sound", the country needs structural reforms that could further aid the business environment, a top official of the IMF said, while briefing reporters at the sidelines of #IMF-World Bank annual meeting in Marrakech, Morocco on October 14.

Read here: https://www.read.ht/QcBp

#BreakingNews | #Earthquake tremors felt in #Delhi today.

Ferrari has started to accept payment in cryptocurrency for its luxury sports cars in the U.S. and will extend the scheme to Europe following requests from its wealthy customers, its marketing and commercial chief told Reuters.

https://www.livemint.com/auto-news/ferrai-allows-crypto-payments-for-luxurious-sports-cars-11697335955645.html

Fast food giant #McDonald's drew criticism from several quarters on social media, after its branch in Israel announced that free food parcels would be provided to soldiers of the Israeli Democratic Forces (IDF) amidst the ongoing offensive in Gaza.

Read here: https://www.read.ht/QcRD

#MintCharts | India saw its driest August in 123 years, leading to a rise in electricity use. Electricity consumption saw a 5.8% jump in August over July. After that, showers in September brought in some respite. This is showed in electricity use, which stood at 140 billion units last month, 7.8% down since August and the biggest month-on-month drop in a year.

Check out today’s Plain Facts for more such interesting insights on how India consumes power.

#SonyPictures, the global entertainment unit of Japan’s Sony Group Corp., has initiated talks with #WaltDisney. about a potential acquisition of its India business.

The preliminary discussions with Disney are part of Sony’s contingency plan in case its ongoing merger agreement with #ZeeEntertainment faces inordinate delay or collapses.

Read more: https://www.livemint.com/companies/news/sony-begins-talks-with-disney-to-buy-india-biz-11697390191465.html

#DeepMind CEO #DemisHassabis was ranked as the smartest CEO in the world, even ahead of top global executives like Meta's Mark Zuckerberg, Tesla and SpaceX's Elon Musk, and even above DeepMind's parent company's Alphabet's CEO Sundar Pichai, according to a report by Preply.

Read more: https://www.livemint.com/technology/tech-news/not-elon-musk-mark-zuckerberg-or-jeff-bezos-meet-worlds-smartest-ceo-demis-hassabis-11697424590139.html

#PersonalFinance | According to Navi’s privacy policy terms, when you give permission to your phone contacts, it gets access to names and contact details from your address book. It uses this data to facilitate invitations and assess your phone use.

Read more: https://www.livemint.com/money/personal-finance/navi-mutual-fund-under-fire-for-requiring-users-to-share-personal-data-11697388884411.html#:~:text=According%20to%20Navi's%20privacy%20policy,and%20assess%20your%20phone%20use

#JUSTIN | #WPI-based #inflation in September 2023 is at -0.26%, against -0.52% in August, government data showed.

Read more: https://www.livemint.com/economy/september-wpi-inflation-at-026-11697438393788.html

#HDFCBank #Q2Results | HDFC Bank announced its July-September quarter results for Q2FY24, reporting a rise of 50.6% in standalone net profit at ₹15,976.11 crore, compared to ₹10,605.78 crore in the corresponding period last year.

Read more: https://www.livemint.com/market/stock-market-news/hdfc-bank-q2-results-net-profit-jumps-50-to-rs-15-976-11-crore-11697303040063.html

#MintCharts | Hit by global economic slowdown, Indian software services companies were looking for a boost from the US retail industry during the upcoming holiday season. Generally, during this period, retailers increase their discretionary spending on technology. However, the signals for this have been mixed so far.

Average YoY growth of retail sales in the US has been less than 2% in the past five months (April to August) compared to an average of nearly 6% in the preceding five months, according to data from the US Census Bureau.

How can IT companies weather this scenario? Check out today's Plain Facts.

#PersonalFinance | There are very few retirement products that help you accumulate a retirement nest egg. One such product is the National Pension System (#NPS). It is a market-linked, defined-contribution product that needs you to invest regularly in the funds of your choice. The returns are based on the performance of the funds that you choose.

Here is a breakdown of the performance of different funds – equity fund, govt bond fund and corporate bond fund – of the private sector NPS.

The Supreme Court of India has announced the verdict on #samesexmarriage in India. CJI DY Chandrachud said that a transgender man can marry a woman or vice-versa. However, he said the directions do not result in the creation of an institution.

Read more: https://www.livemint.com/news/india/samesex-marriage-verdict-sc-grants-equal-rights-to-same-sex-couples-without-legalizing-marriage-11697520312308.html

#MintCharts | India’s elderly population is growing at a quick pace, more so since the early 2010s. It took 67 years from 1950 to 2017 for the 65-plus population to double from 3.1% to 6%, but the next doubling is projected to happen in just 25 years. By 2050, one in five Indians will be over 60 years of age, that is, effectively a senior citizen, shows data from the United Nations.