Contact Us | Log In
Search
Sensex: 33342.8 +236.00 Gold: Rs.29653.00
Nifty: 10283.6 +68.80 Silver: Rs.39847.00
Weekly News: India's consumer price inflation accelerated for a second straight month in August - IndiaNotes.com
Weekly News: India's consumer price inflation accelerated for a second straight month in August
SMC | Published: 19 Sep, 2017  | Source : IndiaNotes.com

Economy


- India's consumer price inflation accelerated for a second straight month in August and at a faster-than-expected pace, driven by a rebound in food prices. The consumer price index rose 3.36 percent year-on-year after a 2.36 percent increase in July, preliminary data from the Central Statistics Office showed. Economists had forecast 3.34 percent inflation.


- Indian's industrial production grew 1.2 percent year-on-year in July, which was slightly slower than the 1.6 percent growth economists had predicted.


- Wholesale price inflation quickened to 3.2 percent in August from 1.9 percent in July, official data from the Ministry of Commerce & Industry showed. The upward trend in August was largely driven by a jump in food inflation, to 5.8 percent from 2.1 percent.


Metals


- Coal India is planning to diversify into new mining areas although it believes the fossil fuel to remain as the primary source of power generation for at least the next two decades. IT


- Wipro has bagged a seven-year contract from European Energy Company, Innogy SE.The company will be managing the data centre and cloud services for Innogy SE.


Pharmaceutical


- Lupin has received US health regulator's nod to market generic version of Flagyl tablets, a drug used to treat bacterial infections, in the American market. The company has received final approval from the US Food and Drug Administration (US FDA) to market metronidazole tablets in strengths of 250 mg and 500 mg.


- Strides Shasun has received approval from the US health regulator for potassium citrate extended release tablets used to prevent certain types of kidney stones.


- Lupin has received approval from the US health regulator to market its generic Doxycycline hyclate tablets, used for treatment of infections, in the American market. The tablets are indicated for treatment of infections caused by various microorganisms and as an adjunctive therapy in severe acne, it added.


- Glenmark Pharmaceuticals has received final approval from the US health regulator for generic version of Rythmol SR capsules, an anti-arrhythmic medication, which treats illnesses associated with rapid heart beats.


Automobile


- Maruti's Japanese parent Suzuki Motor deciding to make electric cars at its factory in Gujarat for India and the world. It will also be the first commercially-available electric car for Suzuki.


Construction


- Larsen & Toubro has bagged construction orders worth `2,525 crore, the $17 billion-company said Tuesday. L&T said that it received an order for engineering, procurement & construction of a non-ferrous process plant in India, without naming the client. It also won orders for manufacturing and supply of material handling equipment.

  Read full report Click here to read the full report


About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


For more information please write in to editor@indianotes.com

 
Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.