BUSINESS
India's WPI inflation surges to 14.23% in November: Govt data
India wholesale inflation rose to 14.23 per cent in the month of November this year, according to data released by the Ministry of Commerce & Industry. The November wholesale inflation on both sequential and year-on-year (YoY) basis was largely impacted by the commodity price hike of food items and manufactured products in the country.
Gautam Adani signs world's largest Green PPA with SECI to supply 4,667 MW green power
The Chairman of the Adani Group also said that he is pleased to have signed the world's largest PPA with SECI. Gautam Adani further said that this deal is yet another step to promote India's ambitions of achieving climate goals and promoting domestic manufacturing.
India's Nov retail inflation sequentially inches up to 4.91%
As per the data, CPI inflation jumped to three-months high of 4.9 per cent which was led by higher core inflation. Data furnished by the National Statistical Office showed that Consumer Price Index (CPI) inched up to 4.91 per cent last month from 4.48 per cent in October 2021. However, on YoY basis, the rise in last month's retail inflation was lower than the 6.93 per cent rise recorded for November 2020.
Employment outlook at a record high of 8 years
Employers in large organisations report the most optimistic outlook with 51 per cent intending to hire in the first quarter compared to 25 per cent in small companies. Employers in the North report the strongest hiring intentions for Q1 followed by South and West. To provide a wider coverage of the market segments, ManpowerGroup has included four new sectors in this report like IT and Technology, Primary Production, Restaurants and Hotels and Not for Profit increasing the overall number of industry sectors' analysis from seven to eleven.
Equities decline in early trade; Hindustan Zinc top loser
The S&P BSE Sensex traded at 58,106 points, down 0.3 per cent. It opened at 58,059 points from the previous close of 58,283 points. Till now it touched a low of 57,843 points.
India, UAE to wrap up CEPA by next month: Goyal
Addressing the India Global Forum UAE-2021 through video conference, he said: "Hopefully by the end of this month or next month, we hope to conclude them (the negotiations) so that this would probably be one of the fastest trade agreement between two countries ever made." Besides, he said the agreement will be a mutually beneficial win-win solution for both countries.
Apple's market value inches closer to $3 trillion
Apple's stocks on Monday had the closing price of $175.74 a share and to reach the record of $3 trillion in market value, the company needs to gain 4% on the closing price of Monday, Hindustan Times reported. The 4% gain will increase the per-share value to around $182.86, the report added.
Agritech startup Ninjacart gets $145 million fresh funding from Flipkart, Walmart
Flipkart invested in Ninjacart for the third time and the fresh produce supply chain company has also been investing in several tech platforms and supply chain infrastructure over the past two years, as per reports.
India's current account deficit in Q2FY22 seen at 1.3% of GDP: Ind-Ra
A relatively stable services trade surplus is expected to cushion the deficit. "A stable services trade surplus of $24 billion would help rein in the current account deficit at $10.1 billion in 2QFY22. The current account was in surplus of $6.5 billion in Q1FY22," the rating agency said.
US companies post record buybacks
Amid the Covid-19 pandemic and efforts to conserve cash, buybacks fell to around $89 billion in the second quarter of 2020. But in the second quarter of 2021, S&P 500 buybacks neared $199 billion, around where they were in the first quarter of 2020, The Wall Street Journal reported. Buybacks benefit stock holders by lowering a company's share count and upping profits per share.
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