BUSINESS
FIIs outflows of $2.3 bn in Oct after two straight months of inflows
FII outflows of $2.3 bn were seen after two consecutive months of inflows. FIIs saw inflows for the eighth consecutive month of $0.6 bn. In the last 12 months, midcaps have risen 79 per cent v/s a 52 per cent rise for the Nifty. In the last five years, midcaps have underperformed by 14 per cent. In P/E terms, the Nifty Midcap 100 is trading at a 14 per cent premium to the Nifty, the report said.
Gold prices remained stable on Dhanteras even as demand soared
As per the India Bullion and Jewellers Association (IBJA), gold sales on Dhanteras across the country this year was about 50 tonnes, valued at over Rs 20,000 crore, whereas it was Rs 12,000 crore in 2019. The IBJA's data showed that the average price of gold of 24-carat purity (999 purity) was over Rs 49,000 per 10 grams (with GST) which was lower than last year's price of around Rs 55,000 per 10 grams (with GST).
Centre on verge of launching long-term leasing out of ITDC hotels
The details of the plan have been kept under the wraps even as an inter-ministerial panel has completed the consultation process on the issue. As per industry sources, a draft note has been circulated on the matter and the likely lessee will be selected soon based on a bidding process. However, it is not known if all the Ashok Group of Hotels which are 100 per cent owned by the India Tourism Development Corporation (ITDC) will be leased via a single bidding process.
Prices of onion cheaper than last year, says Centre
Onion prices had started rising from the first week of October, due to rains that disrupted the supply chain. In order to cool down prices, the Department of Consumer Affairs had taken up calibrated and targeted release of onions from the buffer on First-in-First-Out (FIFO) principle, guided by the twin objectives of moderating prices and ensuring minimal storage loss, the Centre said. As a result of these steps, the all India retail price of onion on Wednesday was Rs 40.42 per kg while the all India wholesale price was Rs 3,253.53 per quintal.
Share of organised players in Indian used car market to reach 30%
According to a recent report, the share of organised players in the pre-owned car market, including digital platform sales, which now stands at 20 per cent, will reach 30 per cent in the next five years. The pre-owned market has been outpacing the new car market, and the industry is expected to clock a healthy growth rate of 15 per cent in FY22, showed the 'OLX Autos -CRISIL Study 2021'. "The prospects continue to be bright on the longer horizon, with a 12-14 per cent CAGR expected over the next few years, taking the size of the market to more than 7 million (70 lakh) vehicles by FY26, from 3.8 million (38 lakh) units in FY21," it said.
Diwali Delight: Fuel prices to fall as excise duty cut on petrol, diesel
The excise duty will be reduced by Rs 5 for petrol and Rs 10 for diesel from November 4. Domestic prices of both fuels have touched record highs on the back of a steep rise in crude oil cost. Petrol has already breached the Rs 100 per litre mark and above in several cities, whereas, diesel is not far behind. The rise in transport fuels had raised concerns over a build-up of inflationary pressure which has even concerned the RBI.
10 publishers behind 69% climate change misinformation on Facebook
The 10 fringe publishers, titled 'The Toxic Ten,' are fuelling 69 per cent of digital climate change denial content on Facebook. The science is undeniable and human activity is warming our planet at an ever-accelerating rate and leading to catastrophic climate change, it said. "Yet, 10 publishers -- 'The Toxic Ten' -- are spreading baseless, unscientific climate denial on their own websites and across social media," the CCDH said in a statement. "It's a climate denial propaganda machine funded in part by Google via ad revenue, and spread across the world via social media, in particular Facebook, who allow them to pay to promote their denial," the Center added. Meta, Facebook's parent company, disputed the CCDH findings.
Indian brands beat off Chinese threat, dominate TWS earbuds market
Unlike other consumer electronics categories including smartphones, local brands continued to record the highest penetration in the TWS earbuds market with 63 per cent share and the average selling price (ASP) went down 22 per cent (on-year), according to Counterpoint Research. India's TWS market posted 55 per cent growth in Q3 2021 to reach the highest shipments ever. Brands pushed high amounts of inventory into the retail channels ahead of the festive season.
Notebook PC market delivers 8% growth in Q3: Report
According to Strategy Analytics, Lenovo topped the chart for a fourth consecutive quarter with 15.3 million notebooks shipped and a 23 per cent share of the market, up 5 per cent from 2020. "It is worth noting that the shortage of components and rising prices for manufacturing and freight costs also delayed some orders for many vendors. In other words, shipments could have been even higher," Industry analyst Chirag Upadhyay said in a statement. HP followed with 14.3 million units shipped and a 21 per cent market share, down 5 per cent YoY, while Dell finished up 50 per cent at 12.2 million shipments for an 18 per cent slice of the pie.
Diwali Relief: Petrol, diesel prices remain static
Accordingly, the pump price of petrol in Delhi remains at Rs 110.04 a litre, while diesel prices also remained at Tuesday's level of Rs 98.42 a litre, according to a price notification of state-owned fuel retailers. In the financial capital Mumbai, petrol prices remain at Rs 115.85 per litre, while diesel is at Rs 106.62 a litre, the highest among all metros.
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