The government on Monday exempted importers of pulses from stock limits, and also relaxed the norms for millers and wholesalers, in view of softening of prices of the key pulses in the country. Now, the stock limits will be applicable only on tur, urad, gram and masoor for a period up to October 31, it said. However, these entities will continue to declare their stocks on the web portal of the Department of Consumer Affairs, it added. A revised order in this regard has been notified.
Inflation declined to 4.68 per cent for the week ended July 8, from 4.96 per cent in the previous week mainly due to cheaper fruits, vegetables, pulses and milk.
Inflation in food articles was at 0.87 per cent in April 2018, as against a deflation of 0.29 per cent in the preceding month.
Inflation rose to 3.55 per cent for the week ended April 15, from 3.24 per cent in the previous week mainly due to costlier manufactured and non-food items.
Wholesale price rise slowed down to 3.51 per cent for the week ended April 1 even though essential items like vegetables; industrial fuels and some manufactured products became costlier.
Snapping the two-month easing trend, WPI inflation rose in August and remained in double-digit for the fifth consecutive month. In July 2021, WPI inflation stood at 11.16 per cent. In August 2020, WPI inflation was at 0.41 per cent. "The high rate of inflation in August 2021 is primarily due to rise in prices of non-food articles, mineral oils; crude petroleum and natural gas; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc as compared the corresponding month of the previous year," the commerce and industry ministry said in a statement.
Use a mix of instruments that will beat both the wholesale and consumer price indices
Recommends delisting of chana futures, open to lowering sugar import duty
Among metro cities, tomatoes were sold at Rs 93 per kg in Kolkata, Rs 60 per kg in Chennai, Rs 59 per kg in Delhi and Rs 53 per kg in Chennai on Monday, data showed. The retail price of tomatoes was ruling at more than Rs 50 per kg in over 50 cities out of 175-odd cities tracked by the consumer affairs ministry.
Rohit has managed just one half-century in his last eight innings in which he has tallied 104 runs. Kohli's freefall in Test cricket continues. He has fallen to spin three times in the first two Tests. Ashwin, usually, dominant at home, managed just six wickets in the first two Tests at an average of 43.
Consumer-focused companies have been left with few options but to increase the prices of their products as input costs mount because of various factors, including supply chain disruptions. This has been affecting monthly household budgets. Prices of scores of items -- from spices to soaps to rice -- have increased in the past year.
Wholesale inflation rate at five-month high in May; rupee breaches 60-a-$ mark, slides to lowest since May 5; Iraq crisis threatens to push global crude oil prices.
WPI-based inflation falls to 5-month low of 6.16%.
Deciding to focus on the cash-and-carry segment in India, retail giant Wal-Mart plans to open 50 wholesale stores in the next four to five years to expand its footprint in the country.
The wholesale price index rose 0.11 per cent year-on-year compared with a 0.6 per cent jump forecast by economists in a Reuters poll.
Food articles inflation dips to 8.14% from 9.50% last month.
From its lows in December, the stock of Tata Motors is up about 15 per cent. The gains came on the back of better than expected December volumes in its UK-based subsidiary Jaguar Land Rover (JLR). This coupled with gradual recovery in the global passenger vehicle demand, improving profitability due to product mix and lower commodity costs are expected to be key positives for the company.
Despite onion prices hitting Rs 130 a kg in the wholesale market, farmers have not gained enough to make a profit this season. Farmers and other stakeholders in the value chain estimate that 30 per cent crop damage this kharif season would result in a decline of about 2 million tonnes in output from Lasalgaon district alone. Similar crop damage across the country could lead to an onion shortage of nearly 7 million tonnes this year.
Tata Steel was the biggest gainer in the Sensex chart, rising 2.39 per cent, followed by Tata Motors, Power Grid, Reliance Industries, UltraTech Cement, NTPC, Nestle, HUL, Mahindra & Mahindra, Wipro, Kotak Mahindra Bank and Asian Paints. In contrast, Bajaj Finance, IndusInd Bank, Axis Bank, Bharti Airtel, Bajaj Finserv, ICICI Bank, Infosys and Titan were among the laggards.
Passenger vehicle sales in India touched a record high of 41.08 lakh units in 2023, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total dispatches from manufacturers to dealers. The record sales have been achieved despite an increase in the average price of vehicles to Rs 11.5 lakh last year as compared to Rs 10.58 lakh in 2022. Market leader Maruti Suzuki, Hyundai Motor India, Tata Motors and Toyota Kirloskar Motor reported their best-ever annual sales in 2023.
Announcement of macroeconmic data such as industrial production and inflation, the US Federal Reserve's interest rate decision along with trends in global equities would dictate movement in the stock market this week, analysts said. Besides, foreign fund trading activity would also guide the trends in equities. "All eyes are now on the US Fed policy outcome for cues, which is scheduled on June 14. In the following sessions, the European Central Bank (ECB) and Bank of Japan (BoJ) will also announce their policy decisions.
In many states, aggregators operate without a licence; in others, with the risk of the licence being revoked by any regional transport office on the slightest pretext.
Traders said wholesale prices are firm as supplies from producing regions have been lower in the past couple of days.
A Kotak research report expects RBI to cuts rates by 50 basis points in the first half of 2019. RBI will announce its sixth bi-monthly monetary policy on February 7.
The wholesale price-based inflation spiked to 12.54 per cent in October, mainly due to rise in prices of manufactured products and crude petroleum. WPI inflation has remained in double digit for the seventh consecutive month beginning April. Inflation in September this year was at 10.66 per cent, while in October 2020 it was at 1.31 per cent.
The Consumer Price Index hit the lowest in six months in March at 4.83 per cent.
Inflation in pulses, vegetables and cereals was higher in Jan.
The government is confident of meeting the fiscal deficit target of 5.9 per cent of gross domestic product (GDP) and the nominal GDP target of 10.5 per cent despite pressure in the initial months of FY24, Economic Affairs secretary Ajay Seth told Business Standard. Normally the initial months of any financial year see proportionally a higher fiscal deficit because the expenditure is evenly paced while revenue picks up in the later months, he said. "This year the proportional fiscal deficit so far is much closer to the target than in most other years.
As per commerce and industry ministry data, food inflation fell to 4.91 per cent in March from 7.79 per cent in the previous month.
In contrast with their strong performance in 2020 and 2021, pharmaceutical and healthcare funds experienced a decline in 2022, with returns plummeting by an average 9.8 per cent. This trend has continued in the current year, with year-to-date return remaining in the negative (-4.9 per cent). In the past three months, pharma funds have been hit hard, experiencing a 7.9 per cent decline.
In the current fiscal so far, retail inflation stabilised around 5 per cent, while wholesale price-based inflation averaged around 2.9 per cent during April-December.
However, some analysts say RBI Governor Raghuram Rajan may delay the rate cuts amid mounting concerns over the government's fiscal health.
The prices of tomato are continuously moving up with the onset of monsoon due to strained supplies and higher wholesale prices in key producing states.
With auctions unable to proceed, the median onion price declined 17 per cent or Rs 6 a kg to trade at Rs 30 a kg on Monday, with arrivals of around 500 tonnes.
The government has no plans to import wheat as it has sufficient stocks to meet the country's requirements, official sources said. The Food Corporation of India (FCI) has enough stock for public distribution, they added. "There are no plans to import wheat into India. "The country has sufficient stocks to meet our domestic requirements," a source said.
The forecast of deficient monsoon rainfalls scared farmers.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
HDFC Bank's January-March quarter result, which came in-line with expectations, failed to enthuse investors. The reason? The management's decision to abstain from providing any specific growth guidance, and analysts' expectations of an arduous road to recovery. Analysts believe the path to normalisation of several growth metrics is unlikely to be a straightforward one, and the road to balance sheet realignment may be long.
The deflationary trend has bolstered the case for a rate cut by RBI.
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