Page 12 - Festive Season

Festival season propels demand for third-party logistics players

Further penetration into smaller cities will only add to this dependence on third-party delivery partners

Festive season propels petrol, diesel demand to highest in four months

Petrol and diesel sales in India jumped to a four-month high in October, as the festive season brought back demand that had been quelled by extended monsoon rains, preliminary industry data showed on Tuesday. Petrol sales soared 12.1 per cent to 2.78 million tonnes in October, as compared to 2.48 million tonnes of consumption in the same month last year. Sales were 16.6 per cent higher than in COVID-marred October 2020 and 21.4 per cent more than in pre-pandemic October 2019. Demand, which had dipped 1.9 per cent month-on-month in September, was up 4.8 per cent higher. Diesel, the most used fuel in the country, posted a 12 per cent rise in sales in October to 6.57 million tonnes, when compared to the same month last year. Consumption was up 6.5 per cent over October 2020 and 13.6 per cent higher than pre-COVID 2019. The fuel, which had seen a near 5 per cent drop in sales in August, when compared to the previous month of July, saw demand rise 9.7 per cent month-on-month. Petrol

Nissan Motor wholesales rise 45% to 10,011 units in Oct in festive season

Nissan Motor India on Tuesday said its total wholesales increased by 45 per cent to 10,011 units in October as compared to the same month last year. The company had dispatched a total of 6,917 units in October 2021. Last month the automaker sold 3,061 units in the domestic market and also exported 6,950 units, Nissan Motor India said in a statement. The company had dispatched 3,913 and 3,004 units in the domestic and international markets, respectively, last October. "Festive season has strong momentum of increased number of deliveries, with customer preference for early delivery and ease of finance. Preference of customers was for SUVs specially amongst the first time and replacement buyers," Nissan Motor India Managing Director Rakesh Srivastava noted. The company is confident that demand will continue to rise with an improvement in economic growth, customer sentiment and with improvement in supply, he added.

Recovery tracker: Decline in railway freight numbers, air traffic

Vehicle registrations and power generation is higher than before

Onset of festive season pushes credit growth across sectors in September

Housing and vehicle loans lead surge in retail credit, which was up 19.6% YoY

Growth of core sector output recovers to 3-month high in September

The Reserve Bank of India last month also revised its growth forecast for FY23 to 7 per cent from 7.2 per cent estimated earlier

About 4,000 jobs posted every day during festival season: Apna.co report

200,000 job opportunities created between Sep 1 and Oct 27; business development, telemarketing and sales among categories with highest number of vacancies

Indian subsidiaries of FMCG giants outperforming their parent cos: Report

Covid-19 might have set the growth back by a few quarters but the FMCG sector has bounced back

Passenger vehicle makers cheer as sales jump in month-long festival season

Deliveries of market leader Maruti Suzuki India rose to 190,000 units compared to 130,000 units last year

High festive demand pushes up demand for gig and temp workers: Report

Over 400,000 gig and temporary workers were reportedly hired to meet the high demand during this year's festive season

Muted festive season sales fail to light up Diwali for many shopkeepers

Hit hard by inflation, low-income groups have been cautious about spending this festive season

Delhi, Bengal consume most sweets in India; Rajasthan top consumer of papad

In 2021, the sweet market in India stood at Rs 58,900 crore

Credit card spends touch record high of Rs 1.22 trillion in September

Banking system saw a net reduction of close to 290,000 cards during this period, impacted by RBI norms warranting deactivation of cards that are inactive for a year

Diwali 2022: Dhanteras likely to see bumper demand for jewellery

Industry captains expect a 15-20% increase in demand over last year's high base

Festivities push FMCG sales up 11% in first two weeks of October

Sales were down in September due to weak rural demand

Planning to buy gold this Dhanteras? Check price, purity and hallmarking

The price of the gold depends on the karat which is a measurement of the purity of a piece of gold

China's zero covid strategy could impact India's consumer durable industry

White goods have 25-75 per cent of their components coming from China, with air-conditioners being the most dependent on them with 75 per cent.

Kharif arrivals likely to dampen food prices, but downside limited

CPI-inflation for the month of September surged to a five-month high of 7.4 per cent largely due to a spike in food inflation which jumped to a 22-month high of 8.6 per cent for the same period

Sans Covid curbs, Delhi traders hope to register Rs 1 trn biz this season

Traders in Delhi are hoping for a huge boost to Diwali business this time, to the tune of Rs 1 lakh crore, as for the first time in three years they prepare for the festival of lights sans Covid restrictions. "This substantial inflow of funds is expected to relieve the business community from financial crisis," the Chamber of Trade and Industry (CTI) said. Free of the red eye of COVID-19, this Diwali is bringing huge business opportunities for traders. CTI said, "After two years, Diwali will be celebrated without any Covid restrictions, prompting consumers to visit markets in every city of the country, shopping." Chairman of the traders' body Brijesh Goyal and its president Subhash Khandelwal said they expect Rs 1 lakh crore business in Delhi on the occasion of Diwali. According to a recent report by the Federation of Automobile Dealers Associations (FADA), the apex organization of the automobile sector, the overall retail sales of automobiles grew by a whopping 57 per cent durin

Retailers likely to see strong revenue performance in July-Sept quarter

According to Dolat Capital earnings preview report, retail will be the highest ranked on revenue and earnings growth from its coverage