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NSE leads Asia in IPOs with 268 listings in 2024 across mainboard, SME
- Business Standard |
- Economics (Macroeconomics) |
- 2025-01-03
- National Stock Exchange
- Initial Public Offerings (IPO)
The National Stock Exchange (NSE) led Asia in 2024 with 268 IPOs, raising Rs 1.67 trillion. Hyundai Motor India's IPO was India's largest, raising $3.3 billion. The NSE outperformed major Asian exchanges like Japan, Hong Kong, and Shanghai.
National Stock Exchange IPO Performance in 2024
The National Stock Exchange (NSE) achieved a significant milestone in the calendar year 2024 (CY24) by hosting the highest number of initial public offerings (IPOs) in Asia.
IPO Statistics
- Total Listings: 268 across both mainboard and SME platform.
- Mainboard Listings: 90.
- SME Platform Listings (NSE's Emerge): 178.
- Total Funds Raised: Rs 1.67 trillion.
Key IPO Highlights
- Largest IPO: Hyundai Motor India's IPO, raising $3.3 billion.
- Global Comparison: The Hyundai IPO was the largest in India and the second-largest globally.
Global IPO Landscape
- Total Global IPOs in CY24: 1,145, compared to 1,271 in the previous year.
- NSE outperformed other top Asian exchanges in IPO numbers, including Japan Exchange Group, Hong Kong Stock Exchange, and Shanghai Stock Exchange.
International Fundraising Figures
- Nasdaq: $16.5 billion.
- NYSE: $15.9 billion.
- Hong Kong Stock Exchange: $10.4 billion.
- Shanghai Stock Exchange: $8.8 billion.
67% of major forest fires in 2023-24 doused within 24 hours, shows data
- Business Standard |
- Geography |
- 2025-01-03
- Forest Fire
During India's November 2023-June 2024 forest fire season, 67% of major fires were extinguished within 24 hours, an improvement from 33% previously, due to better coordination and faster information sharing. Total fires decreased from 2,12,249 to 2,03,544.
Forest Fire Season 2023-2024 in India
Key Statistics and Improvements
During the November 2023 to June 2024 forest fire season, significant improvements were observed in the management of major fires across India.
- 67% of major fires were extinguished within 24 hours.
- This demonstrates an improvement from the previous season's 33%.
- The enhancement is attributed to quicker information dissemination and enhanced coordination among response teams.
Fire Detection Data
- The total number of fires detected by the Forest Survey of India in 2023-24 was 2,03,544.
- In the 2022-23 season, the number was slightly higher at 2,12,249.
Regions with Highest Incidence
- Uttarakhand, Odisha, and Chhattisgarh were identified as regions with the highest record of forest fires.
Manufacturing sector sees decline in productivity, says ASUSE survey
- Business Standard |
- Economics (Macroeconomics) |
- 2025-01-03
- Manufacturing Sector
The article discusses the decline in manufacturing productivity from 2022-23 to 2023-24, with GVA per establishment and worker falling. However, a long-term increase since 2015-16 is noted. This decline is attributed to a rise in new and own-account enterprises.
Decline in Manufacturing Productivity
The manufacturing sector has witnessed a decline in productivity as indicated by the fall in Gross Value Added (GVA).
- GVA per establishment decreased by 6.7% in 2023-24 compared to 2022-23.
- GVA per worker fell by 4.2% over the same period.
This decline demonstrates reduced productivity at both organizational and individual levels, based on the Annual Survey of Unincorporated Sector (ASUSE).
Comparative Analysis with Previous Years
Despite the recent decline, a long-term comparison shows a significant rise in manufacturing productivity.
- Compared to 2015-16, GVA per establishment in manufacturing increased by 38.5%.
- GVA per worker rose by 51.7%, the highest among all sectors.
In the services sector, GVA per establishment increased by 24.4% and GVA per worker by 42%.
- In the trade sector, GVA per establishment grew by 40.5% and GVA per worker by 35.4% from 2015-16 to 2023-24.
However, in absolute terms, GVA per establishment and per worker in manufacturing are still lower than in trade and services.
Growth in Emoluments
Manufacturing recorded the highest growth in emoluments per hired worker between 2022-23 and 2023-24.
- There was a 16.1% increase in manufacturing.
- Other services and trade sectors experienced growth rates of 10.4% and 14%, respectively.
Factors Behind Productivity Decline
Pronab Sen, former chief statistician, has attributed the productivity decline in manufacturing to several factors:
- The emergence of new companies which typically have lower initial productivity.
- An increased share of own-account enterprises within the manufacturing sector, which grew to 88.3% in 2023-24 from 85.5% in 2015-16.