Top Business and Finance News Highlights of the Week: 20 April 2024

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The week in business and finance news has been filled with significant developments across various sectors. Let’s dive into the highlights:

The government is optimistic about achieving a coal production target of 1.08 billion tonnes in the upcoming fiscal year. Plans are in place to inaugurate 20 first-mile connectivity projects to enhance coal evacuation processes. Coal India is expected to produce 838 million tonnes, with a focus on increasing rake deployment and utilisation.

In the realm of taxation, the Modi government is gearing up to implement the long-awaited Direct Taxes Code if re-elected. This move aims to simplify tax laws and align them with global standards, with a particular focus on revamping the capital gains tax regime.

Mining giant Vedanta is embarking on a transformative journey, prioritizing disciplined growth and exploring new opportunities. The company aims to achieve an annual Ebitda of $7.5 billion within two years, while also focusing on deleveraging $3 billion in the next three years.

India’s retail jewellery chains are witnessing rapid expansion, with the top five retailers planning to add 400-500 stores in the next 2-3 years. This growth is expected to increase the market share of large chains in the gold jewellery segment.

In the market, Just Dial reported a strong performance in the fiscal fourth quarter, with a significant increase in profit and revenue. The company’s EBITDA also saw substantial growth, driven by top-line expansion and cost efficiencies.

On the aviation front, Air India Express launched a special discount offer for first-time voters aged 18 to 22, providing a 19% discount on travel to their respective constituencies for the upcoming elections. Passengers can avail of this offer by booking through the airline’s mobile app and website.

Lastly, Kawasaki has introduced a 3-year warranty as standard across all its models in India, except for dirt bikes. While this move aims to enhance customer confidence, it comes with a slight price increase of around Rs 10,000 per motorcycle.

Overall, the business and finance landscape is witnessing dynamic changes and growth opportunities across various sectors, setting the stage for a promising future.