BUSINESS
Nifty hits new high, Sensex up 260 points
Around 10.30 a.m., Nifty was trading at 17,456.05, higher by 76.05 points or 0.44 per cent from its previous close of 17,380 points. The BSE Sensex was trading at 58,514.12, higher by 267.03 points or 0.46 per cent from its previous close of 58,247.09.
Petrol, diesel prices static for 10 consecutive days
The oil marketing companies (OMCs) on Wednesday kept pump prices of auto fuels -- petrol and diesel -- unchanged, the tenth consecutive day of no revision, and decided to wait and watch the global oil situation before making further changes. Accordingly, the price of petrol and diesel remains unchanged at Rs 101.19 and Rs 88.62 per litre in Delhi, as per Indian Oil Corporation, the country's largest fuel retailer.
Easing retail inflation lifts stock indices; consumer durable stocks rise
Initially, both the key indices -- S&P BSE Sensex and NSE Nifty50 -- had a gap-up opening. In the process, Nifty marked a new record high of 17,438 points. On Monday, official data released after market hours had showed that India's August retail inflation eased to 5.30 per cent from 5.59 per cent in July.
US inflation shows signs of easing in August amid Delta variant surge
The consumer price index (CPI) increased 0.3 per cent in August after rising 0.5 per cent in July, according to the report released by the department's Bureau of Labor Statistics. The latest figure is down markedly from the 0.9 per cent growth pace in June, Xinhua news agency reported.
SC says commercial court to decide Essar's arbitration plea against Arcelor
Arcelor had opposed Essar Bulk Terminal's plea for arbitration, and had sought transfer of proceedings from the commercial court to an arbitration tribunal. The company argued that an arbitral tribunal having been constituted, the commercial court cannot proceed further with the application under Section 9 of the Arbitration Act.
Small traders expect easier finance post MSME tag
The American Express survey also showed small merchants are embracing new digital payment methods and innovative strategies to survive during the pandemic and as economy recovers. More than half the small merchants surveyed by American Express for its 2021 report feel that the government's new MSME guidelines will yield better financial opportunities and open doors to better schemes.
Gadkari invites US pension, insurance funds to invest in India's road infra
Addressing the 17th Indo-US Economic Summit, organised by the Indo-American Chamber of Commerce (IACC), he said he "sincerely hopes more and more US companies will come and invest in the road and highway projects in India which is the gold mine for all stakeholders". He assured better returns for the investors compared to those garnered in the US.
Reliance Infra arm DAMEPL will receive Rs 7,100 cr from DMRC: Anil Ambani
Ambani said as a result of the SC judgement, Reliance Infra arm DAMEPL will receive a sum of Rs 7,100 crore from DMRC, which will be utilised to repay the debt of Reliance Infra following which the company will become debt-free. He added that there are regulatory assets worth Rs 50,000 crore under approval/dispute before various fora for its power distribution business - BSES Delhi and erstwhile GTD in Mumbai.
Higher primary, manufactured goods' costs lift Aug wholesale inflation
The annual rate of inflation, based on wholesale prices, rose to 11.39 per cent last month from 11.16 per cent in July. Similarly, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI), as per data furnished by the Ministry of Commerce and Industry, has risen exponentially over August 2020, when it stood at 0.41 per cent.
Vinod Kannan to succeed Thng as Vistara CEO from Jan
Thng, after leading Vistara for more than four years, will move on to take up a senior appointment with Singapore Airlines from January 1, 2022. At present, Kannan serves as Vistara's Chief Commercial Officer. He had joined the airline in June 2019 as the Chief Strategy Officer and currently heads network planning, revenue management, marketing, customer experience and cabin service operations, among others.
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