The wholesale price-based inflation rate declined to (-) 4.12 per cent in June on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation in May was (-) 3.48 per cent. In June last year, it was 16.23 per cent.
Posts tagged Rediff
Why leading steel cos are surrendering coal blocks (14-07-2023)
Essel Mining and Industries Limited (EMIL), Adani Enterprises (AEL), and JSW Steel are looking to surrender their mines. Of these, AEL and EMIL have already notified the government.
Why leading steel cos are surrendering coal blocks (14-07-2023)
Essel Mining and Industries Limited (EMIL), Adani Enterprises (AEL), and JSW Steel are looking to surrender their mines. Of these, AEL and EMIL have already notified the government.
Why MFs have curtailed investments in equities (14-07-2023)
Shrinking inflows and surging outflows on account of profit-booking has curtailed mutual fund (MF) investments in equities since April. The total investments made by equity MFs during the first three months of 2023-24 stands at just Rs 2,980 crore, compared with an average monthly investment of Rs 14,500 crore in 2022-23, reveals data from the Securities and Exchange Board of India. “We are seeing signs of moderation in non-systematic investment plan (SIP) contribution, which has impacted domestic fund inflows in recent months to some extent,” says Kunal Vora, head-India equity research, BNP Paribas.
Sebi’s proposal on FPI dealings in corporate debt (14-07-2023)
The Securities and Exchange Board of India (Sebi) has proposed that at least 10 per cent of corporate bond market trades by foreign portfolio investors (FPIs) should be done on the request for quote (RFQ) platform. At present, most trades in the corporate bond market are over-the-counter (OTC), creating a lot of opacity. The markets regulator has been nudging debt market participants such as mutual funds (MFs), alternative investment funds (AIFs) and brokers to use the RFQ platform to boost secondary market liquidity and transparency.
Valuations factor in bright prospects for BHEL (14-07-2023)
Analysts seem to be generally pessimistic about Bharat Heavy Electricals (BHEL). Out of 15 brokerages with recommendations since May this year, two have ‘buy’ while five have ‘sell’ and eight have ‘underweight’/’reduce’/’underperform’/’hold’ recommendations. The average target price of the public sector undertaking (PSU) is Rs 61. However, the stock has been consistently hitting new highs, which indicates that there is some kind of valuation mismatch.
Net profit of listed commercial banks seen growing 44% (14-07-2023)
Benefiting from higher credit off-take and loan repricing, listed commercial banks are expected to post 43.9 per cent year-on-year (YoY) growth in their net profit in the quarter ended June 30 (Q1FY24), analysts have said. Controlled credit costs due to a healthy asset quality profile and a steady treasury book will also support a strong bottom line for the lenders in the first quarter. However, net profit may shrink sequentially, according to analysts’ estimates for 13 banks sourced from Bloomberg data.
‘Investors should stay invested’ (14-07-2023)
‘Markets are not expensive; they are fairly priced.’
China’s loss is India’s gain (14-07-2023)
‘As China’s reopening euphoria fizzled out on the back of some disappointing economic data, we saw inflows coming back to India with full force in the past 3-4 months.’
Wipro Q1 net profit rises 12% to Rs 2,870 crore (13-07-2023)
IT services company Wipro on Thursday reported a 12 per cent rise in its consolidated net profit to about Rs 2,870 crore for the June 2023 quarter. It had posted a consolidated net profit of Rs 2,563.6 crore in the year-ago period (Q1FY23). Wipro’s income from operations in the June quarter increased 6 per cent to Rs 22,831 crore.