BUSINESS
Nov retail inflation down, RBI's repo rate hike in Feb could be modest'
"It is a pleasant surprise to see the headline CPI inflation print at 5.88 per cent in Nov-22 from 6.77 per cent in Oct-22 since most market participants estimated it to be above 6.0 per cent. This is an 11-month low figure and is clearly driven by the faster-than-expected decline in food inflation which stood at 5.1 per cent in the previous month," Suman Chowdhury, Chief Analytical Officer said.
India CPI - Food falls but what's in store for core?
Cereal inflation has been a concern and was strong in the November print too but rice stock is comfortable and there are recent reports of the Food Corporation of India considering offloading some of its wheat stock to ease prices.
Indigo asks passengers to reach Delhi airport 3.5 hours prior to domestic departures
The airline has also asked the passengers to carry only one piece of hand baggage weighing 7 kg for a smooth security check. The Delhi airports are experiencing high footfalls and the check-in and boarding time are expected to be longer than usual.
Nov retail inflation rate may be down, battle continues
"It is a pleasant surprise to see the headline CPI inflation print at 5.88 per cent in Nov-22 from 6.77 per cent in Oct-22 since most market participants estimated it to be above 6.0 per cent. This is an eleven-month low figure and is clearly driven by the faster-than-expected decline in food inflation which stood at 5.1 per cent in the previous month," Suman Chowdhury, Chief Analytical Officer said.
Dalmia Cement to acquire cement, power plants of Jaiprakash Associates
In a regulatory filing on Monday, Dalmia Bharat said the total cement capacity to be acquired will be 9.4 million ton (along with clinker capacity of 6.7 million ton and thermal power plants of 280MW). These assets are situated in the states of Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.
UK economy rebounds in Oct but recession still looms
October's rebound followed a fall of 0.6 per cent in September, which was affected by the extra bank holiday for the funeral of Queen Elizabeth II, Xinhua news agency quoted the Office for National Statistics (ONS) as saying on Monday. Car sales rebounded after a very poor September, while the health sector also saw a strong month, said ONS director of economic statistics Darren Morgan.
Mounting losses, seller woes spell trouble for Flipkart, India's highest cash-burning startup
Flipkart spent more than $3.7 billion over the course of the year, following its latest round of funding in July 2021 to maintain consumer attention in a market dominated by Amazon as well as more recent domestic firms.
'Earnings recovery for domestic airlines will be slow-paced due to elevated ATF prices'
"The domestic aviation industry continues to witness recovery, with domestic passenger traffic for November 2022 estimated at nearly 117 lakh, about 3 per cent higher compared to nearly 114 lakh in October 2022 and about 11 per cent higher in comparison to the domestic passenger traffic in November 2021. Although, it fell short by nearly 10 per cent, compared to pre-Covid levels of November 2019," the report said.
Retail inflation falls to 10-month low of 5.88%, factory output contracts
This is the first fall seen in retail inflation after a continuous rise for the past 10 months. The slide in retail inflation was mainly due to fall in food inflation, which went down to 4.67 per cent in November. In October it was at 7.01 per cent, according to data released by the Ministry of Statistics and Programme Implementation on Monday.
No shortage of pilots in India, says Centre
Minister of State for Civil Aviation, Gen V.K. Singh (retd), told the Rajya Sabha, in a written reply, that there is however, a shortage of type-rated commanders/PIC (Pilot-in-command) on certain types of aircraft and the same is being managed by utilising foreign pilots by issuing Foreign Aircrew Temporary Authorisation (FATA). Presently, there are 82 FATA holders in India, he said.
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