The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in inflation for vegetables.
According to the commerce and industry ministry data, during April-February 2018-19, the eight sectors recorded a flat growth rate of 4.3 per cent over the same period previous fiscal.
Titan Company on November 21, became the second Tata group firm to join Rs 3 trillion market capitalisation (market cap) club after its shares hit a new high of Rs 3,400, up nearly 2 per cent on the BSE in Tuesday's intra-day trade. At 12:28 PM; with a market cap of Rs 301,847 crore (Rs 3.02 trillion) Titan stood at number 16th position in overall market cap ranking on the BSE listed companies, the exchange data shows. Titan overtook paint company Asian Paints, which has a market cap of Rs 300,579 crore, data shows.
Though the ministry is considering 2017-18 as the new base year, no decision has been taken as the committees of experts are awaiting some more data before finalising their opinion.
The Industrial of Index Production was 1.9 per cent in April and 2.5 per cent in May last year, as per the data released by Central Statistical Organisation.
The broader NSE Nifty after shuttling between 10,451.90 and 10,595.75 finally ended 100.30 points, or 0.96 per cent, higher at 10,582.50.
Says sugar miscalculation behind 'one-off aberration'; Feb reading weak at 4.1%
The S&P BSE Sensex zoomed 500 points to end at 27,627, the highest level in almost 9 months.
As many as seven of eight core industries saw a contraction in output in September.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
Shares of real estate firms have been outperforming over the past year. The rally, analysts say, may hit roadblocks in the near term amid stretched valuations, even as the long-term prospects for the sector remain ebullient. "Most of the positive news flow is already in the price. Hence, investors sitting on hefty profits may partially cash out at current levels," suggests V K Vijayakumar, chief investment strategist at Geojit Financial Services.
Consumer durables shrank year on year, which could suggest to observers that spending confidence is yet to return to the economy.
The print media industry is on a roll, if Index of Industrial Production (IIP) data is to be believed without a pinch of salt.
Bajaj Finserv was the top loser in the Sensex pack, shedding around 3 per cent, followed by Bajaj Auto, Bajaj Finance, L&T, Asian Paints, Dr Reddy's, ICICI Bank, HDFC Bank and RIL. NSE Nifty finished 101.45 points down at 14,929.50.
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
The Reserve Bank of India, which mainly factors in retail inflation to decide its monetary policy, has been tasked by the government to ensure the rate of price rise remains around 4 per cent.
...and getting GDP to measure India's data economy, recommends Ajit Balakrishnan.
Jyoti Basu, the 95-year-old communist, has lost touch with many of his comrades. But this morning the former chief minister of West Bengal did not forget to call his favourite Congressman to say, "Happy Birthday!"
According to the global research firm, though a sharp fall in WPI inflation and negative growth in Industrial production is exerting pressure on the RBI to cut rates, the quantum of rate cut will be more important than the timing.
In December, the index fell a provisional 0.73 per cent.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
IIP growth rises to 9-month high of 4.3 pc in August
Prices of food articles contracted by 3.47 per cent in June on a yearly basis. Vegetable inflation stood at (-)21.16 per cent.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
Foreign currency loans raised by Indian companies nosedived to $210 million in the September quarter (Q2), 93.3 per cent less than the year-ago period when five firms raised $3.1 billion. The Q2 amount is the lowest since December 2003 quarter when India Inc raised $191 million. Companies cited volatility in the currency markets, sharp rise in interest rates in the United States, and fund availability in India as the main reasons behind the sharp fall.
The study claims that from its peak of 18 per cent of gross domestic product in 2008, the crony capitalists' wealth is now down to three per cent
The greatest disconnect lies in the estimates of industrial growth.
With natural gas and cement showing decline in production, the growth of eight core infrastructure industries slowed down to 5.3 per cent in May against 7.4 per cent a year ago.
He is, however, hopeful that impact of recent reforms initiatives will manifest in the data for the second half of the fiscal.
The broader NSE index has fallen about 0.9% as investors wait for corporate results
Manufacturing sector, which constitutes over 75 per cent of the index, grew at 5.5 per cent in November compared to a decline in output by 4.6 per cent earlier
Active largecap funds, which have the toughest job in terms of outperforming the benchmark, did better in 2023 as their bets in the mid and smallcap stocks paid off.
Forex traders said a stronger dollar also dragged the rupee down.
The production of durable products (refrigerators, washing machines, air conditioners and conventional television sets) is contracting in India, according to new data released last week.
Wholesale price inflation remained in the negative territory for the fourth month in a row in July at (-)1.36 per cent, even though prices of food items, especially vegetables, skyrocketed. The inflation, however, has inched up from (-)4.12 per cent recorded in June fuelled by 62.12 per cent rise in vegetable prices. In July last year, wholesale price index (WPI) was 14.07 per cent.
BSE market breadth was negative. Out of 2,961 shares traded, 1,907 shares declined while 941 shares advanced.
Adani Enterprises became the fourth listed company of Gautam Adani Group to cross Rs 4 trillion market capitalisation (market cap), as the stock hit a new high on the BSE in Tuesday's intra-day trade. At 01:24 pm; with Rs 4.04 trillion market cap, Adani Enterprises stood at number 15th position in overall market cap ranking on the BSE, data shows. Adani Transmission is at top of the group companies list, with market cap of Rs 4.48 trillion, followed by Adani Total Gas (Rs 3.96 trillion), and Adani Green Energy (Rs 3.72 trillion).
Slow growth in the key sectors would have implications on the IIP number as these segments account for about 41 per cent of the total factory output.
Expressing disappointment over the contraction in industrial growth in October, India Inc has appealed to the Reserve Bank to cut interest rates to revive the manufacturing sector and ameliorate investments.
RBI's fifth bi-monthly monetary policy meet due tomorrow also kept the investors on their toes.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances