- Sensex Up 0.9%, SBI Lowers Growth Outlook
Stocks in Mumbai closed higher ahead of futures and options expiry. State Bank of India lowered its estimate of March quarter economic growth to 2.7%. APOLLOHOSP TORNTPHARM UTTAMSUGAR MYSORPETRO BENARAS
May 26 - Stocks In Holding Pattern, India to Sell Hindustan Zinc Stake
Stocks in Mumbai were trapped in a holding pattern after Beijing tightened mobility restrictions in the city. Tech stocks extend losses. The central government approved the sale of the remaining stake in Hindustan Zinc. ASIANPAINT BERGEPAINT GRASIM HINDZINC
May 25
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- Avenue Supermarts Comparable Sales Rose 17%
Avenue Supermats operator of DMart discount chain reported quarterly sales rose 18% and annual sales jumped 24%. The company plans to open 37 new stores in the current fiscal year. DMART
May 15 - Reliance Industries Revenues Up 35%, Net Income Rose 20%
Reliance industries reported record revenues and earnings on the back of a price surge in refined crude oil exports, stable profit in retail business, and rising profitability in telecom business. RELIANCE
May 7
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- Adani Plans to Acquire Holcim Stakes in Ambuja and ACC for $10 Billion
India's conglomerate Adani Group agreed to acquire stakes in two cement companies controlled by Switzerland-based Holcim Group for $10.5 billion. AMBUJACEM ACC ULTRACEMCO
May 16 - ADIA Invests in HDFC Affordable Housing Arm, Lend Lease to Participate in Inox Wind Offering
HDFC Ltd agreed to sell 10% stake in its wholly owned subsidiary HDFC Capital Advisors to sovereign fund controlled by Abu Dhabi, UAE for 184 crore rupees. The subsidiary invests in real estate projects aligned with the government aim of building affordable housing. In a separate deal, Lend Lease India agreed to invest at least 100 crore rupees in the upcoming 402 crore rupees of offering from Inox Wind.
HDFC INOXWIND
Apr 20
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- April Inflation at 8-Year High 7.79%
Elevated inflation in April was driven by not just the increase in food and energy prices but also stubborn price increases in health and education services. May 12
- Faster Import Growth Leads to Higher April Trade Deficit
Exports rose 24.2% from a year ago in April and imports jumped 26.6% in the period, resulting in trade a deficit increase of 31.2% to $20 billion. May 3
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- China Hopes Rate Cut Will Revive Economic Activities
The latest rate cut is among a series of steps taken by Chinese authorities to revive housing demand and spur construction and manufacturing activities as the nation prepares to emerge from stringent Covid-19 restrictions. May 20
- Sri Lanka Prime Minister Resigns After Months of Violence
Mahinda Rajapaksa resigned and asked the president to form an all-party government as the economic pain deepens and violence spreads. The island nation has been hit with multiple economic shocks in the last three years. May 9
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