Among the factors affecting the outlook for Indian firms is the contested result of the presidential elections in Nigeria, won by Bola Ahmed Tinubu, which the Opposition has threatened to challenge in court. Apart from that, there is the Nigerian central bank's October 2022 decision to demonetise 200, 500, and 1,000-naira notes, which was implemented in February.
On Friday, Nigeria's Supreme Court ordered the central bank to extend until December 31 the use of old banknotes, whose withdrawal from circulation became an election issue after it caused cash shortages, widespread hardship and anger.
Nigeria is a major export destination for India's two-wheeler makers. Analysts at IIFL Securities said that while two-wheeler exports have been weak for some time, the elections in Nigeria may have magnified the impact in January-February this year. However, this may improve from April-May.
Denne historien er fra March 04, 2023-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra March 04, 2023-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Sitharaman tables Manipur Budget with total expenditure of ₹35K cr
Finance Minister Nirmala Sitharaman on Monday tabled the Budget for financial year 2025-26 (FY26) for the strife-ridden state of Manipur with a total expenditure of ₹35,104 crore, up 7.5 per cent from the revised estimates of FY25.
India Needs to Innovate & Reduce Debt to Become Developed by 2047
India's gross domestic product (GDP) growth accelerated to 6.2 percent in the third quarter of FY25, up from 5.6 percent in the previous quarter.
Rupee Sees Worst Fall in 2 Weeks, Closing at 87.34 Against the Dollar
The rupee fell the most in two weeks, weakening by 0.52 percent against the dollar on Monday due to strong demand for dollars in the non-deliverable forward (NDF) market.
EU Investors Eye Fresh Investments in Indian Equities: Macquarie
Investors from the European Union (EU) nations are looking to make fresh investments in domestic equities by cutting their underweight position, according to financial giant Macquarie.
Simplilearn Plans to Relaunch Fresher Upskilling Vertical
Edtech Firm to Restart Study Abroad Programme as Well
Experts brainstorm on new possibilities in India's power sector by 2047 and Global Trends in Energy Transition @GRIDCON 2025
The theme of POWERGRID led GRIDCON 2025, a premier global event in the power transmission industry Innovations in Grid Resilience: Strategies for enhancing reliability Sustainability and Adaptability of Power Transmission System
Ukraine overtakes India as top arms importer: Sipri
India was world's biggest importer of arms in 2019-23
IndusInd Bank CEO search looms as shares drop 3.86%
Following the Reserve Bank of India's (RBI's) approval for only a one-year extension to IndusInd Bank's Managing Director (MD) and Chief Executive Officer (CEO) Sumant Kathpalia, instead of the three-year tenor requested by the bank's board, brokerages expect the bank to initiate the process of selecting a new CEO.
India's obesity crisis
Reorienting food policies can address the problem
Sun Pharma to expand oncology portfolio with Checkpoint buy
\"This acquisition further bolsters our innovative portfolio in onco-dermatology,\" Sun Pharma's Chairman and MD Dilip Shanghvi said.
