Manas ChakravartyOne reason for why the BJP lost the three states in the Hindi heartland can be seen in the November 2018 retail inflation numbers. The inflation in rural Chhattisgarh compared to a year ago was (-)2.69 percent. That is deep in deflationary territory and although the Consumer Price Index (CPI) is not the ideal measuring rod for farm prices, it does give some indication of rural distress. The deflation is in food prices, as is evident from the All-India Consumer Food Price Index (CFPI), which in November was down 2.6 percent from a year ago. Clearly, the tall promises of higher minimum support prices haven't translated into higher market prices.In rural Madhya Pradesh, consumer prices were up a mere 0.67 percent from a year ago. In Rajasthan, they were slightly higher, up 1.3 percent.Close Manas ChakravartyMoneycontrol News Macro Matters | IMF and Moody’s say India will likely miss its government debt reduction targetsPolicy matters | The urgent need for … [Read more...] about Quick Take | How deflation in food prices played a role in BJP’s election debacle
Why infosys share price going down
Everybody knew India's current account deficit would go up because of high oil prices. The CAD rising to 2.9 percent in the July-September quarter from 2.4 percent in the previous quarter was hardly a surprise.But is the rise in deficit entirely due to high oil prices? Not really. While the deficit on account of petroleum, oil and lubricants (POL) went up by 58 percent from a year ago, the deficit on account of non-POL products rose by 50 percent. Clearly, it's not just oil that's driving up the current account deficit.This is seen more clearly if we consider quarter-on-quarter numbers. The POL deficit sequentially went up by a mere 1.3 percent in the July-September quarter this year. But non-POL deficit was up 17.5 percent over the same period.Close Manas ChakravartyMoneycontrol News Macro Matters | IMF and Moody’s say India will likely miss its government debt reduction targetsPolicy matters | The urgent need for restoring credibility to India’s macro dataMacro … [Read more...] about Quick Take | The rising current account deficit is not just because of high oil prices
The Sensex and the Nifty closed the week with losses of about 1 percent. The Nifty, which hit a record high of 12,158 last week, failed to hold onto the momentum and closed with losses of 1.1 percent for the week ended December 6.Experts are of the view that selling was largely seen in the rate-sensitive pack after the RBI policy outcome. The consolidation may continue in the coming week as well, but 11,700-11,800 is likely to act as crucial support for the Nifty, they say.Below are the top 10 stocks which moved the most this week:Close Whirlpool, up 9% related news D-Street Buzz: Banks bleed led by YES Bank, RBL Bank, SBI; Omaxe tanks 20% Shakti Pumps shares fall 3% after CARE revises credit rating Andhra Bank share price falls 3% after RBI imposes Rs 25 lakh penalty The share price of Whirlpool gained over 9 percent for the week on consistently strong financial performance. A sharp gain in the market price has seen the company enter the list of top 100 companies with the … [Read more...] about Top gainers & losers: Top 10 stocks which moved the most this week, YES Bank tanks 18%
December is that month of the year when activities in automotive companies cool down considerably especially in marketing and promotion of new products. It is also the period of drawing and redrawing targets for the coming year.But this is not the usual December.Companies are breaking their backs at work instead of readying for a leisure holiday. More on this in the latter part of the copy, but first here is a complete look at what made headlines in the auto space this week.Close Mercedes to launch EV in India in 2020 related news Tax cuts under consideration, focus on boosting growth, says Nirmala Sitharaman Moneycontrol Pro Weekender: The curious incident of the MPC in the slowdown Robots are not just taking away jobs, they are making life tougher for staff In 2020, two German luxury carmakers -- Mercedes and Audi -- will enter the electric vehicle (EV) market with an India launch each as the push for greener mobility gathers steam in the luxury … [Read more...] about This week in Auto: Carmakers keep December unusually hot; Bajaj launches Husqvarna in India
Securities and Exchange Board of India (SEBI), in an order dated December 6, 2019, revealed charging a show-cause notice on stakeholders of UTI Asset Management Company (AMC) - State Bank of India, Life Insurance Corporation, and Bank of Baroda on July 19, 2019, towards regulatory action.The market regulator directed three public sector financial institutions -- LIC, SBI, and Bank of Baroda -- to dilute their stakes to below 10 percent in by December next year.In the case of non-compliance with directions, the shareholding and voting rights of these entities in UTI AMC and UTI Trustee in excess of 9.99 percent and corporate benefits will be frozen till the time they comply with the orders.Close The stakeholding of SBI, BoB, and LIC in UTI AMC is in contravention of an amendment to SEBI MF Regulations on March 13, 2018, requiring an asset management company (AMC) to be a sponsor and stakeholder holding 10 percent or more, of only one mutual fund, thereby reducing cross-holding in any … [Read more...] about UTI AMC-PSUs-SEBI Saga: Is it a special case treatment of SEBI relenting with extension for stakeholders SBI, LIC and BoB?