News Archives - Page 13 of 14 -

13 Jun

India’s retail inflation falls to 12-month low of 4.75 percent in May

Priyanka Roy0 CommentsBusiness, News

Retail inflation fell to a one-year low of 4.75% in May as prices of some kitchen items declined marginally, according to government data released on Wednesday. Consumer Price Index (CPI) based retail inflation stood at 4.83 percent in April 2024 and 4.31% in May 2023 (previous low). According to data released by the National Statistical Office (NSO), inflation in the food basket stood at 8.69% in May, slightly lower than 8.70% in April. A headline price increase has seen a gradual decline since February 2024, albeit in a narrow range from 5.1% in February to 4.8% in April 2024. The…

12 Jun

Tata Motors share prices inflation as brokerage firms maintain bullish stance; Stocks rise 7% in a week

Priyanka Roy0 CommentsBusiness, News

Tata Motors share price rose more than 2% on Wednesday, adding 7% in a week, as brokerages maintained a bullish stance on the stock amid better growth prospects highlighted by the company in an investor meet. While Tata Motors' Indian business has already become net debt free by FY2024, it has set a target for Jaguar Land Rover (JLR) to become net debt free by FY2025. Tata Motors aims to grow up the passenger vehicle (PV) industry by 2X on new nameplates across ICE, CNG and EVs with a development of 80% of the addressable market by FY2030 from 53%.…

11 Jun

New business premium of life insurers increase 15% to ₹27,034 Crore in May

Priyanka Roy0 CommentsBusiness, News

New business premium collections of life insurance companies grow by 15.15% in the month of May 2024 compared to the same month last year, boost by strong demand for improved insurance protection from both corporate and individual consumers. According to the Life Insurance Council, new policy issuances grew by 12.45% in the same period, reflecting strong underlying demand for life insurance products. New business premium increased from Rs 23,448 Crore in May 2023 to Rs 27,034 Crore in May 2024, with year-to-date (YTD) collections rising even further to Rs 47,293 Crore from Rs 36,043 Crore. Driven by strong demand for…

10 Jun

Consumers expect spending to progress in next one year: RBI survey

Priyanka Roy0 CommentsBusiness, News

According to the latest survey by the Reserve Bank of India (RBI), Indian consumers are expected to increase spending over the next one year, with both essential and non-essential items increasing.RBI's Consumer Confidence Survey (CCS) showed that the rise in consumer confidence has stalled for the current period as sentiments have declined slightly on all parameters except spending in the latest survey round.The Current Situation Index (CSI) declined to 97.1 in May 2024 from 98.5 two months ago."For the year ahead, consumer confidence remained elevated in optimistic territory, although it declined marginally due to relatively soft sentiments on general economic…

08 Jun

Bajaj Housing Finance files DRHP with SEBI to inflation ₹7,000 Crore via IPO;

Priyanka Roy0 CommentsBusiness, News

Bajaj Housing Finance IPO: Bajaj Housing Finance has filed preliminary draft papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds of ₹7,000 Crore through its upcoming public offering.The total public issue of up to ₹7,000 Crore includes a new issue of equity shares up to ₹4,000 Crore and an offer for sale (OFS) of up to ₹3,000 Crore by the selling shareholder with a face value of up to ₹3,000 Crore. Or the parent company, Bajaj Finance limited each equity share of ₹10.The share sale is being conducted to comply with Reserve Bank of…

07 Jun

RBI Monetary Policy 2024: RBI keeps repo rate unchanged at 6.5% for eighth consecutive time, inflation FY25 GDP estimate to 7.2%

Priyanka Roy0 CommentsBusiness, News

RBI MPC Meeting June 2024: With the RBI keeping the repo rate constant, all external benchmark lending rates linked to the repo rate will not increase, providing relief to borrowers as their EMIs will not increase. RBI Monetary Policy Meeting June 2024: The Monetary Policy Committee (MPC) of the Reserve Bank of India, which began its meeting on Wednesday, has kept the repo rate unchanged at 6.5% for the eighth consecutive time. This is the first time that the MPC met after the declaration of Lok Sabha election results. In April, the central bank had determined to keep the repo…

06 Jun

Market bullish: Sensex progress 3.2%, Nifty closed above 22,600

Priyanka Roy0 CommentsBusiness, News

A day after witnessing the worst trading session in four years, benchmark indices Sensex and Nifty recovered almost half of their losses on Wednesday after gaining over 3% each. The 30 share BSE Sensex closed at 74,382.24, up 2,303.19 points or 3.2 per cent. Nifty closed at 22,620.35, upturn 735.85 points or 3.36%. Sensex fell 4,389.73 points or 5.74% and Nifty 50 fell 1,379.4 points or 5.93% on Tuesday due to the unexpected Lok Sabha election result. Bharatiya Janata Party (BJP) got 240 seats, which is much less than the exit poll estimates. However, the BJP-led National Democratic Alliance (NDA) secured 294…

05 Jun

Sensex up 2.46% in morning trade, Nifty inflation 560 points

Priyanka Roy0 CommentsBusiness, News

A day after the announcement of Lok Sabha elections, domestic stock market indices Sensex and Nifty, which opened nearly 1 percent higher on Wednesday (May 5), gained in morning trade.At 11:30 am, the Sensex rose 2.46% or 1,772.04 points to 73,851.09. The index opened at 73,027.88, up 1.32% compared to its previous close of 72,079.05. After opening with a gain of 243.85 points or 1.11%, the broader Nifty also jumped 2.56% or 560.5 points to hit an intraday high of 22,445. On Wednesday, the Sensex closed 4,389.73 points or 5.74% lower at 72,079.05, and the Nifty 50 fell 1,379.4 points or 5.93%…

04 Jun

Gross GST revenue collection in May 2024 stands at ₹1.73 lakh crore; Recorded 10% inflation year-on-year

Priyanka Roy0 CommentsBusiness, News

Mumbai: Gross goods and services tax (GST) revenue for May 2024 stood at ₹1.73 lakh crore. This represents a 10 percent year-on-year increase, driven by strong growth in domestic transactions (up 15.3%) and a slowdown in imports (down 4.3%). After accounting for refunds, the net GST revenue for May 2024 is ₹1.44 lakh crore, showing a growth of 6.9% over the same period last year.The gross GST collection in the financial year 2024-25 till May 2024 stood at ₹3.83 lakh crore. This represents an impressive growth of 11.3% year-on-year, driven by strong growth in domestic transactions (up 14.2%) and modest…

03 Jun

Sensex rises over 3.5% on optimistic exit poll results, Nifty crosses 23,300 points

Priyanka Roy0 CommentsBusiness, News

Domestic equity indices opened at record highs on Monday after exit polls predicted a hat-trick for Prime Minister Narendra Modi in the results of the recently concluded Lok Sabha elections. Analysts said better than expected gross domestic product (GDP) of 8.2% in FY24 and S&P revising India's rating outlook to positive from stable also buoyed the market. BSE Sensex crossed the 76,500 mark for the first time on Monday. The 30 share index opened 2,621.98 points or 3.55% higher at 76,583.29. Nifty opened at a record high of 23.337.9 with a gain of 807.2 points or 3.58%. An average of…