Monday, September 21
US wholesale inflation cooled last month, despite worries that President Donald Trump's tariffs would push prices higher for goods before they reach consumers. The Labor Department reported Wednesday that its producer price index - which tracks inflation before it hits consumers - was unchanged last month from May and up 2.3% from a year earlier. Both measures came in below what economists had expected. Excluding volatile food and energy prices, so called core producer prices were also unchanged from May and up 2.6% from June 2024. The report on wholesale inflation came a day after the Labor Department reported that consumer prices last month rose 2.7% from June 2024, the biggest year-over-year gain since February, as Trump's sweeping tariffs pushed up the cost of everything from grocerie
ITC Hotels on Wednesday reported a 54% year-on-year growth (YoY) in its Q1FY26 net profit, rising to Rs 133 crore from Rs 87 crore in the same period last year. The net profit is attributable to the owners of the company. Revenue from operations for the quarter stood at Rs 816 crore, up 15.5% from Rs 706 crore in the corresponding quarter of the previous financial year.The company's profit after tax (PAT) fell 48% sequentially, compared to Rs 257 crore reported in Q4FY25. The decline in PAT is attributed to a 23% drop in ITC Hotels’ revenue in the current quarter, down from Rs 1,061 crore in the January–March period.The year-on-year growth in PAT and revenue boosted investor sentiment, pushing the stock up nearly 4% to an intraday high of Rs 237 on NSE.The ITC-promoted company incurred
Mumbai: India's largest private sector lender HDFC Bank said on Wednesday its board will meet on July 19 to consider a landmark proposal-the issuance of bonus shares for the first time in the bank's three-decade history. The HDFC Bank stock, which has climbed more than 23% in a year, has the largest weighting on the Nifty, accounting for nearly a seventh of the index.If approved by the board and shareholders, the bonus issue would mark a significant milestone for India's most-valued lender, signalling management's confidence in its financial position and long-term growth trajectory. A wider equity base enhances capital-market liquidity for the stock, which is a favourite with overseas investors and is the centrepiece for most bulge-bracket funds taking exposure to Indian financial assets."
Mumbai: India's wealthy are increasingly taking a shine to crypto assets, a global favourite these days, as they see limited scope for appreciation in traditional favourites like stocks and gold at this point. Domestic affluent investors, who have been adding these virtual currencies to their portfolios since the election of the US president Donald Trump in November last year, have ramped up their holdings of late, a stark contrast to their position last year when they were reluctant to test out these new-age assets."Over the last 6 months, we're seeing clear momentum from HNIs and family offices who are now allocating a portion of their portfolios to digital assets," said Atul Ahluwalia, vice-president, HNI & institutional investments at CoinSwitch. "The conversation has moved from 'w
