Retail inflation at 6.2 per cent dims early rate cut hopes
India’s retail inflation unexpectedly jumped to a 14-month high of 6.2% in October, driven by soaring vegetable, fruit, and edible oil prices. This surge breaches the central bank’s target range and delays the possibility of interest rate cuts. Economists predict inflation will remain elevated for a few months before gradually easing towards the Reserve Bank […]
Swiggy likely to see a modest D-Street debut
The grey market premium – the price in the unofficial market that investors pay for the unlisted shares before listing – was at ₹2 for Swiggy on Tuesday, a 0.5% premium to the upper price band of – ₹390.
Sagility India shares list at 3.5% premium
The IPO comprised an offer for sale of 70.22 crore shares by promoter Sagility BV, aggregating up to ₹2,106.06 crore at the upper price band. The company provides technology-enabled business solutions and services to clients in the US healthcare industry.
Market tanks again as FPIs keep selling
Technical analysts do not see a rebound in the markets in the near-term. “Nifty is currently around its crucial support of 23,800 and we see a ‘sell on rise’ market, where it could sustain around 23,400 levels for the next week to next month. As long as it remains below 24,500 our view remains negative,” […]
Vedanta Resources plans to sharply reduce cost of funding by April
The $850 million private credit facility from Standard Chartered Bank, which carries a high interest rate of 18%, is secured against future brand fee receivables. These brand fees, projected at around $300 million annually, help VRL with a recurring revenue stream that partially services this private credit.
Britannia needs a new recipe to attract cost-conscious urbanites
During the quarter, raw material costs for the company were up by 7.8% from a year ago, driven by high inflation in the cost of wheat, palm oil, cocoa and sugar. The input cost as a proportion of revenue rose to 59.8% of sales compared with 57.9% a year ago. This directly impacted profitability, as […]
Crypto and High: Bourses, traders come up Trumps
Average daily trading volumes in half a dozen major exchanges have surged 3 times in less than a week despite crippling taxes and a shadow ban by most banks. Investors who were sitting on losses for close to 18 months are suddenly in the money