·
Gems and jewellery stocks extend
fall post budget
Gems and
jewellery stocks are continued under pressure third day in a row falling by up
to 17% after the government kept gold import duty unchanged at a record 10% in
the budget.
·
WPI inflation eases to 4-month low
of 5.43% in June
WPI inflation eased to a
four-month low of 5.43% in June from 6.01% last month. Food
articles inflation at 8.14% vs 9.50% mom, Manufactured products inflation at
3.61% vs 3.55% mom, Fuel and power group inflation at 9.04% vs 10.53% mom,
Primary articles inflation at 6.84 vs 8.58% mom.
·
Tata Power seeks shareholders nod
to raise Rs70bn
Tata Power
is seeking shareholders nod to raise up to Rs 7,000 crore through issue of
non-convertible debentures. The company has proposed increasing its borrowing
limit to Rs 27,000 crore.
·
Titan declines on buzz jewellery
unit closes gold deposit schemes
Titan
Company lost 2.54% on reports that the company's jewellery unit, Tanishq had
closed two gold deposit schemes. Tanishq said it
would close the deposit schemes due to changes to rules governing the sale of
deposits under the Companies Act passed last year.
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