Yesterday's big news was related to wholesale inflation. Wholesale inflation has come down to 1.31% in August due to the cheapness of daily essential goods. This is its lowest level in 4 months. On the other hand, the market share of India's largest airline Indigo increased by 0.4% compared to July and reached 60.4% in August. On the other hand, the market share of Spice Jet has declined.
Before tomorrow's big news, today's major events, which will be in focus…
- There may be a rise in the stock market today on Wednesday.
- There has been no change in the prices of petrol and diesel.
- 'Infinix Zero 40 5G' smartphone will be launched.
Now read yesterday's big news…
1. Wholesale inflation at 4-month low: It was 1.31% in August, prices of food items and daily necessities decreased
Wholesale inflation has come down to 1.31% in August due to the cheapness of daily essential goods. This is its lowest level in 4 months. In April, it was at 1.26%. Whereas a month ago in July, wholesale inflation had come down to 2.04%.
Earlier on September 12, the government had released the retail inflation figures. Retail inflation has increased to 3.65% in the month of August. It was at 3.54% in the month of July. Retail inflation has increased in the month of August due to the rising prices of vegetables.
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2. IndiGo market share rises to 60.4% in August: Total domestic passengers carried rise to 13.1 million, Akasa Air most punctual airline
The market share of India's largest airline IndiGo increased by 0.4% compared to July to reach 60.4% in August. SpiceJet's share has declined. On the other hand, Akasa Air was the most on-time airline, with 71.2% of its flights taking off on time.
In August, 1.31 crore people traveled by domestic airlines. This is 5.7% more than last year. In August 2023, this figure was 1.24 crores. Whereas in July 2024, it was 1.29 crores. That is, there has been an increase in it on annual and monthly basis.
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3. Country's trade deficit stood at ₹2.48 lakh crore in August: Exports fell 9.3% to ₹2.90 lakh crore, imports increased by 3.3%
The country's merchandise exports fell by 9.3% to $34.7 billion or Rs 2.90 lakh crore in August. In the same month a year ago, it was $38.28 billion (Rs 3.20 lakh crore). According to government data released on Tuesday, imports in August rose by 3.3% to $64.36 billion or Rs 5.39 lakh crore, which was $62.3 billion (Rs 5.21 lakh crore) in the same month a year ago.
According to the Commerce Department, India's exports declined in August due to a drop in global demand and geopolitical challenges. During the month of August, shipments coming into the country grew by 3.3%, which led to a trade deficit of $29.65 billion or Rs 2.48 lakh crore.
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4. PN Gadgil Jewelers shares listed at ₹834, up 73.75%: Issue price was ₹480; The company sells precious jewellery including gold, silver, diamonds
PN Gadgil Jewelers Limited shares were listed on the Bombay Stock Exchange (BSE) at ₹ 834, up 73.75% from the issue price. On the National Stock Exchange (NSE), the shares were listed at ₹ 830, up 72.91% from the issue price. The issue price of this initial public offering was ₹ 480.
This IPO was open for bidding from September 10 to September 12. In three trading days, the IPO was subscribed a total of 59.41 times. The retail category was subscribed 16.58 times, qualified institutional buyers (QIB) 136.85 times and non-institutional investors (NII) category 56.08 times.
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5. Shapoorji-Group company gets SEBI approval for IPO: Afcons Infrastructure will raise ₹ 7,000 crore, including a fresh issue of ₹ 1,250 crore
Shapoorji Pallonji Group's leading infrastructure engineering and construction company, Afcons Infrastructure Limited (AIL) has received approval from the Securities Exchange Board of India (SEBI) to launch an IPO. The company will raise Rs 7,000 crore through this IPO.
For this, the company will issue fresh shares worth Rs 1,250 crore. Whereas, Goswami Infratech Private Limited, the existing investor of Afcons Infrastructure, will sell shares worth Rs 5,750 crore through Offer for Sale i.e. OFS. The company had filed Draft Red Herring Prospectus (DRHP) for IPO with SEBI on 28 March 2024.
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6. Manba Finance IPO will open on 23 September: Investors can bid till 25 September, minimum investment ₹ 15,000
Manba Finance Limited's Initial Public Offering (IPO) will open on September 23. Investors will be able to bid for this IPO till September 25. The company's shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 30.
Manba Finance wants to raise a total of ₹150.84 crore through this issue. For this, the company will issue 12,570,000 fresh shares worth ₹150.84 crore. The existing investors of the company are not selling a single share through Offer for Sale i.e. OFS.
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Also see who were the top 10 richest people in the world yesterday…
Know the condition of tomorrow's stock market and gold-silver…
Self-check the latest price of petrol-diesel and gas cylinder…
Graphics Source: VaskarAssets
