Business and Economics - General Knowledge Questions

Correct Answer :   BHEL

Bharat Heavy Electricals Limited (BHEL) is set to demonstrate India's first methanol-fired gas turbine at NTPC's Kayamkulam Combined Cycle Power Plant.

This initiative aims to address the issue of unutilized gas turbine sets due to a lack of natural gas and naphtha.

The project will proceed in two phases, with technology support and commissioning provided by BHEL’s Hyderabad units.

This move represents a significant step in utilizing alternative fuels and advancing India's energy technology capabilities.

Correct Answer :   Reliance Industries Limited

Reliance Industries Limited (RIL) advanced two positions to secure the 86th spot in the 2024 Fortune Global 500 list.

This achievement marks the highest ranking ever attained by the conglomerate, reflecting its robust performance and strategic growth across various sectors.

For the 21st consecutive year, RIL remains the highest-ranked Indian corporation in the list, highlighting its significant impact on both the Indian and global economies.

The ranking is based on total revenues, with RIL reporting record-high consolidated revenues and a substantial rise in EBITDA for FY24.

Correct Answer :   HDFC Life

The Insurance Regulatory and Development Authority of India (IRDAI) fined HDFC Life Insurance Rs 2 crore for breaching regulatory norms.

The penalty addressed violations related to policyholders' interests and outsourcing irregularities, each accounting for Rs 1 crore.

The violations were found during an inspection covering the financial years 2017-18 to 2019-20.

IRDAI has also issued directives to ensure compliance, requiring HDFC Life to submit an action plan and review outsourcing contracts.

Correct Answer :   4%

In June 2024, the Index of Eight Core Industries (ICI) experienced a 4% increase compared to June 2023.

This growth reflects positive performance across various key sectors, including Coal, Electricity, Natural Gas, Steel, Fertilizers, and Cement.

The percentage increase indicates a solid expansion in the core industries, which is essential for understanding the broader economic activity and industrial growth trends in the country.

Correct Answer :   UltraTech

UltraTech Cement, part of the Aditya Birla Group, is acquiring a 32.72% stake in India Cements for ?3,945 crore.

This acquisition, which includes an open offer to shareholders at ?390 per share, will strengthen UltraTech’s position in the Southern markets and support its goal of surpassing 200 MTPA in total cement capacity.

This strategic move follows an earlier investment in India Cements and aligns with UltraTech's broader strategy to expand its footprint in the cement industry.

Correct Answer :   Airbus

Airbus, in collaboration with Tata, is set to launch India's first H125 helicopter by 2026, with an initial production capacity of 10 units per year.

This partnership supports India's Atmanirbhar Bharat initiative, aiming to bolster domestic manufacturing capabilities.

Airbus is investing in the Indian aerospace market despite regulatory challenges and views India as a future leader in the commercial helicopter sector, comparable to the United States.

This venture signifies a significant step in advancing India's aerospace industry and enhancing self-reliance in defence and aviation.

Correct Answer :   Bharti Airtel

Bharti Airtel Ltd. was awarded the Taxnet 2.0 project by the Central Board of Direct Taxes (CBDT).

This project is intended to provide advanced network connectivity, facility management services, and video conferencing services to the Income Tax Department.

Bharti Airtel was selected through an open tender process, and Taxnet 2.0 will enhance the IT department's digital infrastructure by ensuring secure, reliable, and seamless connectivity.

The project's key features include enhanced security, higher reliability, and seamless connectivity, all aimed at improving tax services for citizens and businesses.

Correct Answer :   $24.16 Billion

India’s merchandise exports in August 2023 declined by 6.86% to $34.48 billion compared to $37.02 billion in August 2022. The decline is evident in key sectors like Non-petroleum and non-gems and jewellery. India’s trade deficit for August 2023 narrowed to $24.16 billion, showing a 2.8% improvement from the $24.86 billion deficit in the same month last year (2022).


Merchandise Imports Dip : Imports of merchandise also saw a decrease, down by 5.23% to $58.64 billion from $61.88 billion in August 2022.


Trade Deficit Narrows :

* Despite the decline in both exports and imports, India’s trade deficit for August 2023 narrowed to $24.16 billion, showing a 2.8% improvement from the $24.86 billion deficit in the same month last year.

April-August Trends :

* In the April-August period of 2023, merchandise exports contracted by 11.9% to $172.95 billion.
* Merchandise imports also fell by 12% to $271.83 billion during the same period.


Services Sector :

* In August 2023, services exports were estimated at $26.39 billion, slightly down from $26.50 billion in August 2022.
* Services imports for August 2023 stood at $13.86 billion, down from $15.22 billion in August 2022.


Services Sector Growth (April-August) :

* Services exports for the period from April to August 2023 reached $133.38 billion, reflecting a positive growth rate of 5.14% compared to the same period in the previous year.
* Services imports for the same period stood at $71.98 billion.

Sectoral Highlights :

* Notable sectors with substantial growth in merchandise exports in August 2023 included Iron Ore (1556.09%), Oil Meals (57.26%), and Electronic Goods (26.29%).
* Electronic goods exports surged to $2.17 billion in August 2023, compared to $1.72 billion in August 2022, with substantial growth of 35.22% over the April-August 2023 period.


Challenges in Imports :

* Merchandise imports faced challenges in August 2023, with 15 out of 30 key sectors experiencing negative growth.
* Notable sectors with declining imports included Silver (-78.15%), Cotton Raw & Waste (-74.67%), and Fertilisers (-55.69%).


Overall Trade Performance (August 2023) :

* India’s overall exports, including both merchandise and services, stood at $60.87 billion in August 2023, reflecting a 4.17% decline compared to August 2022.
* Imports for the same period totaled $72.50 billion, decreasing by 5.97% year-on-year, resulting in an overall trade deficit of $11.63 billion for August.

Correct Answer :   Rs 1,09,947.86 Crores

The combined market valuation of seven of the top-10 most valued firms eroded by Rs 1,09,947.86 crore last week, with State Bank of India taking the biggest hit, in-tandem with weak trend in equities.

Last week, the BSE benchmark fell by 438.95 points or 0.66 per cent.

From the top-10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS), HDFC Bank and Infosys witnessed addition in their market valuation.

The valuation of State Bank of India tumbled Rs 38,197.34 crore to Rs 5,11,603.38 crore.

Shares of State Bank of India on Friday (4th August 2023) fell by nearly 3 per cent after the company's first quarter earnings failed to cheer investors.

The market capitalisation (mcap) of ICICI Bank eroded by Rs 17,201.84 crore to Rs 6,79,293.90 crore.

ITC's valuation tanked Rs 16,846.18 crore to Rs 5,66,886.01 crore and that of Bajaj Finance fell by Rs 14,366.34 crore to Rs 4,32,932.18 crore.

The mcap of Reliance Industries went lower by Rs 11,806 crore to Rs 16,98,270.74 crore and that of Hindustan Unilever declined by Rs 9,069.42 crore to Rs 5,98,299.92 crore.

Bharti Airtel's valuation dipped by Rs 2,460.74 crore to Rs 4,97,908.56 crore.

However, the mcap of TCS jumped Rs 31,815.45 crore to Rs 12,59,555.25 crore.

Infosys added Rs 15,791.49 crore taking its valuation to Rs 5,72,062.52 crore. The mcap of HDFC Bank climbed Rs 7,080.63 crore to Rs 12,47,403.26 crore.

Reliance Industries remained the most valued firm of the country, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance..

Source : Times of india

Correct Answer :   CarTrade Tech Ltd

Mumbai-based used cars platform CarTrade Tech Ltd on Monday (10th July 2023) said it will acquire online marketplace OLX India's auto sales business for Rs 537 crore.

* In a stock exchange filing on Monday (10th July 2023), CarTrade said that it will acquire 100% stake in Sobek Auto India Pvt Ltd, the entity that houses OLX India’s automotive business, in an all-cash deal, and the acquisition will likely to be completed in 21-30 days.

* On Monday (10th July 2023), Cartrade's scrip on BSE closed 1.8% lower at Rs 486.3.

* Sobek is a company incorporated under the Companies Act, 2013. It is engaged in the business of running an automotive digital platform and a classifieds internet business.

* On June 30, 2023, Sobek has acquired the classifieds internet business from OLX India Private Limited on the terms and conditions agreed under a business transfer agreement.

* Last month (June 2023), Prosus-owned OLX has shut down its automotive business unit OLX Autos in a few regions, including Argentina, Mexico and has also laid off 800 employees.

* Earlier this year, OLX announced that they will lay off 15 per cent of their workforce. This amounts to 1,500 employees globally in 2023 as a part of the restructuring. They attributed the move to poor macroeconomic conditions..

Source : Business Today