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India’s wholesale price inflation eased to an eight-month low in March on the back of softer rise food prices
Inflation measured by the Wholesale Price Index stood at 2.47 percent last month, compared with 2.48 percent in February, according to a statement by the Ministry of Commerce and Industry. That's marginally higher than the 2.43 percent median estimate of economists surveyed by Bloomberg.
RCom Hopes To Cut Debt By Rs 25,000 Crore From Asset Sale
Srinivasan Venkatakrishnan has resigned as CEO of AngloGold Ashanti after 18 years at the company, with the last five as its CEO. He will remain in his current role until August 30.
Venkatakrishnan will joint billionaire Anil Agarwal-led Vedanta Resources as its CEO.
Source: Bloomberg
Meanwhile, a three-judge bench of the top court refused Jaiprakash Associates’s plea seeking order to Resolution Professional to consider its bid for Jaypee Infratech.
Shares of the drugmaker rose 4.2 percent to Rs 579, the highest level since March 12. Trading volume was more than triple the 20-day average for this time of day.
The stock is at an 11 percent discount to the analysts’ consensus target price. It traded at an average 2.7 percent discount over the past year, Bloomberg data showed.
IHH Said to Propose Up to $1.3 Billion Fortis Bid to Top TPG
Shares of the lender rose as much as 6.5 percent after its fourth quarter net income beat analyst forecast. The company announced the issue of one bonus share for each held. The stock was the second-best performer on the S&P BSE 500 Index. Trading volume was 1.4 times its 3-month full-day average.
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Shares of the country's second-largest software services company declined as much as 6.2 percent, most intraday since Aug. 18, after the IT firm said it expects its operating margin in 22 to 24 percent range this year, lower than previous year’s 23 to 25 percent view.
The stock snaps a four-day advance and was the worst performer on both the Sensex and the Nifty indices. Its volume was volume was 80 percent of its three-month full-day average.
Shares of the country’s second-largest software services provider dropped as much as 6.2 percent in pre-market trading.
Nearly 85 lakh shares changed hands in 14 block deals on the NSE. The buyers and sellers were not known immediately.
UBS Securities' Geoffrey Dennis' take on global markets, oil and gold.https://t.co/hig5Nk9xAw pic.twitter.com/lUJH7QVrOc
— BloombergQuint (@BloombergQuint) April 16, 2018
#BQMoney | Traders will watch RBI’s reaction to U.S. adding rupee to watchlist, reports @nupuracharya.https://t.co/hig5Nk9xAw pic.twitter.com/BPRud7sIaT
— BloombergQuint (@BloombergQuint) April 16, 2018
Here's a lineup of all major corporate meetings today.https://t.co/tbcFXqt7y5 pic.twitter.com/xlsCACZ5NE
— BloombergQuint (@BloombergQuint) April 16, 2018
Motilal Oswal on Bharat Electronics
Credit Suisse on Nestle
SS Infrastructure Development Consultants
Shriram City Union Finance
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