India’s foreign exchange reserves dropped $5.6 billion to $689.7 billion during the week ending October 31.

The Reserve Bank of India announced on Friday that for the week ending October 31, India’s foreign exchange reserves fell $5.623 billion to $689.733 billion. To $695.355 billion, the total reserves had decreased by $6.925 billion. Foreign currency assets, a significant portion of reserves, fell by $1.957 billion to $564.591 billion for the week ending…

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October had a record high for auto retail sales due to GST 2.0 and an increase in rural demand: FADA

Due to the GST reform, holiday and rural demand, and overall sales increased 40.5% year over year (YoY), India’s car retail sector reached a record high in October. The 42-day festival season from Dussehra to Diwali recorded record figures with a 21% YoY growth, solidifying it as the strongest festive cycle in India’s automotive history,…

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Sugar production increased by 16%.

According to the Indian Sugar and Bio-energy Manufacturers Association’s (ISMA) initial advance estimate of output, India’s sugar production is predicted to increase by 16% to 34.35 million tonnes (MT) in the 2025–26 season (October–September) compared to the current season due to sufficient monsoon rains and a larger area. The net sugar production for the current…

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Hindalco projects that the Novelis plant fire will have a $550–650 million impact on free cash flow.

Hindalco Industries calculated that the September 16 incident at the Novelis factory in the United States had a negative free cash flow impact of $550–650 million. According to the company, the losses have an impact on adjusted EBITDA of between $100 and $150 million. Additionally, according to the Aditya Birla Group firm, Novelis would have…

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