The latest government data shows that India's retail inflation has slowed to its lowest rate in four months, dropping to 5.22% in December 2024. This decrease can be attributed to lower food prices, according to the National Statistics Office. However, the Reserve Bank of India has raised its projection for inflation in the current fiscal year to 4.8%, citing persistent food price pressures. This news could have a positive impact on businesses and consumers alike, as it signals a more stable economic environment.
According to the latest government data, retail inflation for December 2024 has slowed to 5.22%, the lowest in the last four months. This is mainly due to easing prices in the food basket, with food inflation dropping to 8.39% compared to 9.04% in November. The Reserve Bank of India has raised the inflation projection for the current fiscal year to 4.8%, citing lingering food price pressures. Stay updated with the latest news on NDTV.com from India and around the world.
Mumbai-based DMart reports a consolidated net profit of Rs 724 crore for the October-December period, with a 4.8% increase over the same period last year. While the revenue growth of 17.7% meets market expectations, the net profit falls short of analysts' estimates. The company's quarterly earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 1,218 crore, representing an 8.8% year-on-year increase, but with a margin decrease of 60 basis points. DMart CEO Neville Noronha cites increased competition and discounting in the FMCG category as the reason for the margin decline and remains committed to providing value to customers through their retail and fulfillment centers. The market's reaction to the quarterly numbers will be closely watched on Monday.
In this edition of Traders' Diary, the Zee Business research team provides exclusive research and investment ideas on 20 stocks to track for January 3, 2025. Analysts Pooja Tripathi and Kushal Gupta share their top stock picks, including Avati Feeds, PB Fintech, Bajaj Finance, Lupin, Bank of Baroda, JK Cement, Amber Enterprises, and V2 Retail. With targets and stop losses for each stock, this diary is a must-read for investors and traders.
Indian apparel brand Being Human Clothing has expanded its reach by launching a new store in Chennai at Express Avenue Mall. The store was inaugurated by popular Indian dancer Prabhu Deva, adding star power to the launch. The brand, which supports charitable initiatives through its sales, looks forward to serving the people of Chennai with its stylish and socially responsible clothing options. The store offers a wide range of men's and women's apparel, along with the brand's latest Autumn/Winter 2024 collection. Being Human Clothing is available globally and aims to showcase its offerings to decision makers in the retail, eCommerce, and fashion industries.
Amidst all the excitement surrounding Trump's U.S. election victory, fund manager Sean Peche is urging investors to take a closer look at Europe. According to Peche, there are some "very attractively priced" companies in the region that have been overshadowed by the Trump euphoria. Peche believes that stocks such as French bank BNP Paribas and Dutch investment bank ABN Amro, with consistent growth and high dividends, are being ignored by investors. He also points out "attractive" stocks in the UK, such as Associated British Foods, which owns retail giant Primark. While political turmoil in France and the UK may raise concerns, Peche remains unfazed and advises against overlooking these opportunities.
The IPO of Mamata Machinery Ltd, a manufacturer of packaging machinery from Gujarat, opened to a stellar reception, with the offering's price band set between Rs 230 and Rs 243 per share. Within the first hour of bidding, the IPO was subscribed over three times, and by the end of the first day, it had received bids for 16.49 times the total shares on offer. Retail investors can apply for a minimum lot size of 61 shares with a minimum investment of Rs 14,823, while small and big non-institutional investors can invest in a minimum lot size of 14 and 68 lots respectively.
The initial public offering of Inventurus Knowledge Solutions (IKS Health), backed by investor Rakesh Jhunjhunwala, receives a strong response from investors during its bidding process. The company plans to raise Rs 2,497.92 crore through the IPO, with a price band of Rs 1,265-1,329 per share. While reservations were made for various categories of investors, the quota for retail investors was oversubscribed by 11.17 times, indicating a strong demand for the company's shares. Brokerage firms have mostly given a positive outlook on the IPO, citing the company's strong financials, market position, and unique business model.
After successfully raising Rs 2,400 crore from institutional investors, Vishal Mega Mart's IPO moves into its second day of bidding with a fully subscribed allocation for non-institutional investors. Despite a dynamic market environment, the hypermarket chain's IPO has generated significant interest with a minimum lot size of 190 shares for retail investors. The bidding window will close on Friday, December 13, with a price band of Rs 74-78 per equity share.
Raymond Limited, a prominent Indian company, saw its stock price rise by 8% on December 10, 2024, closing at ₹1,743. The jump was driven by a robust financial performance in Q2 of FY25, with significant profit and revenue increases. The company's strategic initiatives, particularly in its real estate division with the unveiling of a new retail space project, have also attracted investors. The demerger of Raymond Realty into an independent entity is expected to unlock shareholder value and streamline operations for future growth. With strong financial discipline and strategic moves, Raymond is well-positioned to capitalize on emerging opportunities in the Indian market.