Sub-Rs 10L cars make up 78% of festive sales

CHENNAI: Rationalised GST rates and buoyant festive sentiment have propelled demand in the industry’s ‘bread-and-butter’ sub-Rs 10 lakh segment to multi-year highs, amid an ongoing premiumisation wave in the country. The reset in tax slabs – particularly for small cars and compact SUVs – widened affordability and revived interest among price-conscious buyers who had been…

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Jaiprakash Associates bid: Adani edges out Vedanta; creditors choose higher upfront payment

Creditors of Jaiprakash Associates have unanimously voted in favour of Gautam Adabi-led Adani Enterprises’ resolution plan, choosing it over Vedanta despite the latter placing the highest overall bid in a September e-auction, people familiar with the discussions told ET.Jaiprakash Associates (JAL), which owes lenders Rs 55,000 crore, was admitted into insolvency proceedings in June last…

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Trump sanctions a ‘crude’ shock! Russia oil shipments to India drop by 66%; experts expect ‘noticeable drop’ in near term

In October, China, India and Turkey collectively received about 90% of Russia’s crude exports. (AI image) US President Donald Trump’s sanctions on two of Russia’s major oil firms have finally hit the crude supply to India. As per latest data, the shipments of Russia’s crude oil have dropped drastically by 66% in November, as refineries…

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Financial troubles deepen! Air India lobbies government for airspace access in China’s Xinjiang as Pakistan airspace closure hikes costs: Report

Air India has approached the Indian government to request access to restricted military airspace in China’s Xinjiang region to shorten international flight paths, according to a Reuters report quoting an internal company document. The move comes as the airline struggles with higher operational costs following Pakistan’s closure of its airspace to Indian carriers.The appeal, submitted…

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Gold price today: How much 24K and 22K gold costs in your city; check prices for Mumbai, Delhi & more

Gold prices recovered in Wednesday’s futures trade after three straight sessions of losses, as traders engaged in value buying ahead of the release of the US Federal Reserve’s meeting minutes.On the Multi Commodity Exchange (MCX), December gold futures rose by Rs 674, or 0.55%, to Rs 1,23,314 per 10 grams in 10,726 lots. The February…

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