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Annual retail inflation shot up to a 17-month high of 6.95 per cent in March from a year ago, remaining above the tolerance limit of the Reserve Bank of India (RBI) for a third straight month A higher-than-expected rise in retail inflation, or consumer price index (CPI)-based inflation in March, could lead to India's first repo rate hike in nearly two years in June, said analysts. Annual retail inflation shot up to a 17-month high of 6.95 per cent in March from a year ago, remaining above the tolerance limit of the Reserve Bank of India (RBI) for a third straight month. Core inflation, excluding food and fuel, rose to 6.53 per cent in... read more

Mrs Bectors Food has underperformed market in the past 3-6 months after reporting weak set of numbers. In comparison, the benchmark index was down by less than 4 per cent during the same period. Shares of Mrs Bectors Food Specialities slipped 10 per cent to Rs 303 on the National Stock Exchange (NSE) on Wednesday’s intra-day trade on back of heavy volumes in an otherwise firm market. At 09:37 am; the stock traded 7 per cent lower at Rs 315, as compared to... read more

The management expects an increased inflow of funds and consistent growth in AUM in the coming quarters. Shares of Anand Rathi Wealth zoomed 16 per cent to Rs 711.95 on the BSE in Wednesday’s intra-day trade after the company reported strong results with its profit after tax (PAT) and operating profit more-than-doubling in the March quarter (Q4FY22). The company’s assets under management rose 23 % year-on-year to... read more

Seven Indian-origin persons have been charged by US federal authorities with insider trading in a scheme through which they made over a million dollars in illegal profits Seven Indian-origin persons have been charged by US federal authorities with  insider trading  in a scheme through which they made over a million dollars in illegal profits. Hari Prasad Sure, 34, Lokesh Lagudu, 31 and Chotu Prabhu Tej Pulagam, 29, are friends and worked as software engineers at... read more

  The company has entered into JV with FRIWO AG Germany to manufacture and supply various EV components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years. Shares of Minda Industries rallied 8 per cent to Rs 1,019, hitting a new 52-week high on the BSE in Monday's intra-day trade, after the auto anciallary company announced a fresh round of capex and investment spends. The auto components maker announced last Friday that it has entered into a joint venture (JV) agreement with FRIWO AG Germany to manufacture and supply various electric vehicle components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years. At 09:25 am, the stock was up 6 per cent at 1,005, as compared to a 0.53-per cent rise in the S&P BSE Sensex. A combined around 650,000 shares had changed hands on the NSE and BSE till the time of writing of this report. "Minda Industries, the flagship company of UNO Minda Group, and FRI...

  The stock was listed at Rs 760, a 68 per cent over its issue price of Rs 453 per share on the National Stock Exchange. Tega Industries has made a stellar stock market debut, with its equity shares listed at Rs 760, a 68 per cent premium over its issue price of Rs 453 per share on the National Stock Exchange (NSE). On the BSE, the stock opened at Rs 753, a 66 per cent higher versus its issue price, the exchange data showed. Post listing, the stock hit high of Rs 765 and a low of Rs 721 on the BSE. At 10:01 am; the stock was traded at Rs 751.80, a 66 per cent higher against issue price. A combined 4.1 million shares changed hands at the counter on the NSE. Initial public offering (IPO) of Tega Industries had received a robust response from the all category investors with demand for shares exceeding those on offer by a whopping 219 times. Tega was the sixth most subscribed IPO in India, and it had received the third highest subscription this year after Latent Vi...

 The Japanese government is considering raising its economic growth forecast for fiscal 2022 to take into account the effects of its record $490 billion stimulus package TOKYO (Reuters) - The Japanese government is considering raising its economic growth forecast for fiscal 2022 to take into account the effects of its record $490 billion stimulus package, public broadcaster NHK reported on Monday. In a mid-year review in July, the government projected real gross domestic product (GDP) growth of about 2.2% for the fiscal year starting in April 2022. With the spending package aimed at helping businesses and households weather the pain of the COVID-19 pandemic, it now estimates a tailwind of about 5.6% for real GDP from this fiscal year to next, NHK said. Japan has lagged other economies in pulling out of the pandemic-induced slump, forcing policymakers to maintain massive fiscal and monetary support even as other advanced nations dial... read more

 At present, the company has 586 stores in 134 cities spread across 29 states and union territories in India. Of these, 211 stores were opened in the last three years Footwear retailer Metro Brands Ltd, which is likely to come out with its initial share-sale by the end of the month, will utilise Rs 250 crore from the proceeds towards opening 219 stores in the next two-and-half years, its senior official said on Thursday. At present, the company has 586 stores in 134 cities spread across 29 states and union territories in India. Of these, 211 stores were opened in the last three years. It opened its first store under the Metro brand in Mumbai in 1955 and have since evolved into a one-stop-shop for all footwear needs, by retailing a wide range of branded products for the entire family including men, women, unisex, and kids, and for every... read more

  His resignation is to be effective from December 31, 2021 Dhanlaxmi Bank on Thursday said its Part-Time Chairman G Subramonia Iyer has resigned, on personal grounds. "G Subramonia Iyer, part-time chairman and independent director of the bank, has submitted his resignation from the board of directors of the bank vide his letter dated December 2, 2021," the bank said in a regulatory filing. His resignation is to be effective from December 31, 2021, it added. "G Subramonia Iyer has informed that he was tendering his resignation owing to certain urgent and emergent domestic and personal reasons and there were no... read more

  Early indications suggest Omicron may be markedly more contagious than previous variants, though researchers are still seeking to understand its impact Market news : The emergence of Omicron is fueling uncertainty in markets, as investors await information about the heavily mutated coronavirus variant and gauge how badly it could damage the global recovery. Early indications suggest Omicron may be markedly more contagious than previous variants, though researchers are still seeking to understand its impact. In the meantime, volatility across asset markets has soared, with a recent hawkish turn from the Federal Reserve contributing to the... read more

  Popular is set to be the first Indian auto dealership in a highly fragmented market to list Market news : Popular Vehicles & Services, India's biggest auto dealer, is planning a $100 million listing next year, a source with direct knowledge of the matter said. Papers filed in August with India's markets regulator seeking approval for its listing show the dealer plans to raise $20 million by issuing new shares. Those funds have been earmarked to acquire smaller cash-strapped dealers in India and expand Popular's repairs and services business, Naveen Philip, a shareholder and member of Popular's founding family, told Reuters. The rest of the IPO will consist of Indian private equity fund BanyanTree Growth Capital cashing out by... read more