Wholesale inflation rate eased to 34-month low of (-) 0.92 per cent in April on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation has been on a declining trend for 11 months in a row and entered the negative zone in April. In June 2020 WPI was at (-) 1.81 per cent.
Posts tagged Rediff
BSE relaunches Sensex, Bankex derivative contracts (15-05-2023)
BSE on Monday relaunched Sensex and Bankex derivative contracts in its bid to boost derivative trading at the country’s premier bourse. The relaunch of derivative contracts comes with a reduced lot size of futures and options and a new expiry cycle of Friday from Thursday earlier, BSE said. Derivatives are considered to be high-risk-reward financial instruments aimed at hedging risk in the equity market.
Rural gains can help Hero MotoCorp turn the corner (15-05-2023)
India’s largest two-wheeler maker by volume – Hero MotoCorp (Hero) – posted a better-than-expected operating performance in the January-March (fourth quarter, or Q4) quarter of 2022-23 (FY23). Riding on higher average selling prices which were up 5 per cent year-on-year (YoY) and volume growth of 7 per cent, the company registered a 12 per cent growth in revenue to Rs 8,306 crore. The company sold 127,000 units in the quarter, largely driven by domestic sales which were up 11.6 per cent, while exports saw a sharp fall of 57 per cent over the year-ago quarter.
Taxing The Rich To Please The Poor (15-05-2023)
Taxing the rich will fetch nothing; only votes, argues Debashis Basu.
Why Apple Wants Indian Workers To Work Longer Hours (15-05-2023)
India’s stiff labour laws were one key issue that Apple CEO Tim Cook discussed with Prime Minister Modi on his recent visit.
To avoid crisis, IR ferries more coal for electricity (15-05-2023)
As Indian Railways looks to avert the crisis like last summer, preparations are under way to stock up coal at thermal power plants. Much like February and March, thermal coal movement in April was 5 per cent higher than the previous year, data from the Ministry of Railways shows. While India prepares for a hot summer this year, 48.23 million tonnes (mt) of coal for thermal power plants was ferried by Indian Railways in April. The national transporter also moved about 500,000 tonnes–18.4 per cent– more imported coal for power plants this April than it had done last year.
India’s Chip Dreams Won’t Happen Unless… (15-05-2023)
OSAT majors have concerns about India’s ability to provide a stable, predictable, and lasting policy environment for years to come, which is key for making a decision in a capital-intensive business.
GST and states: How indirect tax system is working (15-05-2023)
Taiwan in 1951 came up with an ingenious plan to improve tax compliance: citizens taking receipts for purchases could use them as lottery tickets. Customers were incentivized, and businesses found it hard to evade taxes. The plan’s success prompted other countries, Slovakia and Greece among them, to launch similar initiatives. India doesn’t seem to find the need yet for such schemes amid surging goods and services tax (GST) collections.
ONGC scraps bids for flagship Daman gas field (14-05-2023)
State-owned Oil and Natural Gas Corporation (ONGC) has cancelled the bids received for its Daman upside gas development project off the western coast due to high price quotes, sources said. The project is crucial to ONGC’s strategy of ramping up gas production from its shallow-water fields off India’s west coast. Once completed, the project would lead to nearly doubling of current gas production of 4-5 million standard cubic metres per day.
Factors that will drive the markets this week (14-05-2023)
Domestic stock markets would be driven by inflation numbers, global trends, and the last batch of Q4 earnings this week, analysts said. Markets will also react to industrial production data and consumer inflation numbers that were released after market hours on Friday. “Participants will react to macroeconomic data viz. IIP and CPI first, which were released post-market hours on Friday.