From NIIF foraying into road and highway sector to HDFC Q2 profit declining, Business Standard brings you top news of the evening
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The Nikkei India Manufacturing Purchasing Managers' Index (PMI) had already been on a downward curve registering 51.8 in March, much below January's eight-year high of 55.3
The findings, which focus mostly on small and export-oriented businesses, were backed by an equally grim official survey released on Saturday, which showed the steepest contraction on record
The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 54.5 last month from January's 55.3
It said Indian exporters of electronics, pharmaceuticals, speciality chemicals and automobile segments depend on China for raw material and are facing supply constraints
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Solid growth in demand was despite output prices rising at the fastest rate in nearly three years
Although business conditions in the Indian manufacturing sector improved in November, the rise, however, remained subdued
Total new orders shrank at their fastest pace since December 2012, while factory orders and future output were also in contraction
The index fell to 48.7 in September from 52.4 in August due to subdued demand.
On the prices front, input cost inflation moderated to one of the lowest rates seen in over a decade