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Weekly News: Wholesale prices climbed 1.88 percent y-o-y in July - IndiaNotes.com
Weekly News: Wholesale prices climbed 1.88 percent y-o-y in July
SMC | Published: 23 Aug, 2017  | Source : IndiaNotes.com

Economy


- India's consumer price inflation accelerated in July after slowing in the previous three months. The consumer price index rose 2.36 percent year-on- year, exceeding economists' forecast for 2.05 percent inflation. June's inflation rate was revised down to 1.46 percent from 1.54 percent and remained the lowest figure since the series began in 2012.


- India's wholesale price inflation accelerated in July largely due to rebound in food prices. Wholesale prices climbed 1.88 percent year-on-year in July, faster than the 0.90 percent rise in June.


- India's industrial production declined unexpectedly in June on weak manufacturing activity. Industrial output fell 0.1 percent in June from a year ago, reversing a revised 2.8 percent expansion in May. Production was forecast to climb 0.1 percent in June.


Power


- Tata Power together with its subsidiaries and jointly controlled entities as of August 2017 has an installed generation capacity of 10.406 MW. The Company with a gross installed capacity of 3.144MW has increased its generation capacity by close to 13%.


Engineering


- Larsen & Toubro (L&T) plans to divest its entire stake in L&T Cutting Tools for `174 crore. The sale is part of L&T's larger strategy to focus on core business segments.


Ship Building


- Cochin Shipyard Ltd (CSL) has lined up expansion projects worth 2,800 crore. The IPO's proceeds will be utilised to fund these expansions.


Information Technology


- Wipro has bagged a five-year IT infrastructure and applications managed services contract from Bangladesh's telecom major Grameenphone.


Healthcare


- Apollo Hospitals Enterprise Ltd (AHEL), India's largest healthcare provider by market value, is considering the acquisition of small hospitals in northern and western parts of India.


Automobile


- Hero MotoCorp plans to launch three new scooter models by next fiscal as part of strategy to enhance its leadership position as erstwhile partner Honda challenges its number one spot.


Pharmaceuticals


- Zydus Cadila has received the final approval from the USFDA to market Telmisartan and Hydrochlorothiazide Tablets USP, in the strengths of 40 mg/12.5 mg, 80mg/12.5 mg and 80mg/25 mg. Telmisartan and Hydrochlorothiazide Tablets are used to treat hypertension (high blood pressure). The drug will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad.

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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.


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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.