20/04/2024
- The inflation is coming down and with the cut in fuel prices could come down even further. That will prepare the ground for rate cuts. Rate cuts will result in some re rating of the market valuations. So, good GDP growth, accelerating PLI schemes and rerating of the markets due to interest rate falling could be the theme for the next year.
- Wholesale inflatioin eases to 0.2% in Feb, food inflation rises marginally.
- CPI based inflation eased to 5.09% in February. IIP growth rates for Jan stood at 3.8%.
- RBI aims to block backdoor entry into a guarded zone with millions of users.
- M&M to launch 3 pure electric vehicles.
- Adani to invest Rs 60000 crore in Airport business.
- Adani and Qualcomm CEO discuss India’s potential in AI and semiconductors.
- APL Healthcare a unit of Aurobindo Pharma received compliance certificate from WHO GMP Prequalification Unit Inspection Services Team. This will help it to supply to WHO.
- BAT may sell about 3.5% of its stake in ITC, thereby increasing the free float and that will increase its weightage in Nifty and funds will have to buy more of ITC. The stake sale may happen in the price band of Rs 384-400 range.
- NCLAT upholds Jet Airways transfer of ownership to Jalan Kalrock Consortium.
- FY24 GDP growth to be closer to 8% on higher activity in industry.
- The ₹3.76-lakh crore Tata Motors, which harnessed increasing demand for electric cars to reclaim automotive market capitalization leadership in India, has urged New Delhi to extend incentives on electric taxis for another three years and also include personal cars in the government’s flagship demand support program FAME, citing global EV leader China’s example.
- Tata Motors will build a Rs 9000 crores plant in Tamil Nadu.
- The first semiconductor chips from the new plant being set up by the Tata Group and Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) in Gujarat’s Dholera, will be ready to roll out by the end of 2026, according to Frank Huang, chairman of PSMC.
- RBI imposes penalty on Bank of India, Bandhan Bank.
- TV prices may go up by 10% in April due to rising open cell rates.
- An $80 billion crash in small caps flashes warning signs.
- Hyundai Motor Company and sister Kia Corp will recall about 170000 EVs in South Korea over problems with software in the charging systems.