Macro Wrap: IIP, CPI to be released today
CPI inflation data for June 2016 would be released today by the
government and as per the consensus estimates it is expected to come in at
5.79% versus 5.76% in the previous month.
Industrial production data for May 2016 would be announced today
and as per the consensus estimates IIP is expected to decline by 0.4% versus a
fall of 0.8% MoM.
RBI Governor: NITI Aayog Panagariya top contender for RBI
chief's post
As
per media news, NITI Aayog's Vice-Chairman Arvind Panagariya is the top
contender for the post of next governor of the Reserve Bank of India, a finance
ministry official said.
As
per the news piece, the name of the next governor will be announced after Prime
Minister Narendra Modi's returns from his Africa tour. Panagariya, a PhD from
Princeton, was a professor of economics and Jagdish Bhagwati Professor of the
Indian Political Economy at the Columbia University before taking over as vice
chairman of NITI Aayog in 2014. He was also the chief economist of Asian
Development Bank.
Hindalco up after strong Q2 nos from Alcoa
Hindalco Industries surged over 5%, touching to Rs136.15, after
Alcoa Inc, the largest US aluminum producer, after market hours in US
yesterday, July 11, 2016, reported better-than-expected Q2 June 2016 results.
Hindalco Industries' US subsidiary Novelis is in the similar line
of business as Alcoa.
IFB buys stake in Trishan Metals
Home appliances maker IFB Industries has announced that it has
acquired 51.12% shareholding of Trishan Metals Pvt Ltd.
The Company, on July 11, 2016, participated in Equity issue of
120,00,000 equity shares of Rs10 each of Trishan Metals Pvt. Ltd and thereby
acquired 51.12% shareholding of Trishan Metals Pvt. Ltd.
Igarashi drops as promoter sells 33 lakhs shares via OFS
Shares of Igarashi Motors India dropped over 3% to Rs683 on NSE on
reports that the promoters have sold 33 lakhs shares via OFS route at Rs650 per
share (8.2% discount to last closing price of Rs708)
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I got to learn a lot through this blog.The Indian rupee rallied for a second straight day on Thursday, against its US counterpart amid sustained selling of the dollar by banks and exporters. At the Interbank Foreign Exchange Market, the partially convertible currency was trading higher by 9 paise to 66.96 per dollar from its previous close of 67.05 per dollar. Get best updates on stock market by joining epic research.
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