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Here are the top stories this evening:
CPI inflation surges to near 8-year high of 7.79% in April
The Reserve Bank of India's (RBI) worst fears have been realised after data showed headline retail inflation surged to 7.79 percent in April - the highest since May 2014. At 7.79 percent, the Consumer Price Index (CPI) inflation print for April is 84 basis points higher than the March number of 6.95 percent, data released on May 12 by the Ministry of Statistics and Programme Implementation showed.
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Industrial growth edges up to 1.9% in March from 1.5% in February
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India's industrial growth, as per the Index of Industrial Production (IIP), edged up to 1.9 percent in March from 1.5 percent in February, data released on May 12 by the Ministry of Statistics and Programme Implementation showed.
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L&T Q4 consolidated PAT rises 10% YoY to Rs 3,621 crore, revenue grows 10%
India's largest infrastructure company Larsen & Toubro Limited on May 12 reported a 10 percent year-on-year rise in consolidated net profit at Rs 3,621 crore, which was below analysts' expectations.
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Tata Motors reports Q4 consolidated net loss of Rs 1,032 crore; sales slump 11.5% YoY
Tata Motors Limited on May 12 reported a consolidated net loss of Rs 1,032 crore for the quarter ended March as against a consolidated net loss of Rs 7,605 crore in the year-ago quarter. Analysts had expected the company to report a consolidated net profit of Rs 12.8 crore on revenues of Rs 82,386 crore
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Taking Stock | Sensex tanks 1,158 points on inflation worries; Nifty below 15,850
Indian markets plunged deeper into the red on May 12, as the fall continued for a fifth straight day amid weak global markets led by rising inflation fears and selling across the sectors.
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Ashni Biyani resigns as MD of Future Consumer for ‘personal reasons’
Ashni Biyani, daughter of Future Group promoter Kishore Biyani, has resigned as the managing director of Future Consumer Limited citing personal reasons, the company informed in a filing to the stock exchange on May 12. The company also announced the appointment of Samson Samuel as the new CEO of the company, effective from May 12.
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Delhivery IPO Day 2 | Total subscription at 23%, retail portion booked 40%, employee quota 12%
The initial public offering of logistics services provider Delhivery was subscribed 23 percent against IPO size of 6.25 crore shares on the second day of bidding. The offer size has been reduced to 6.25 from 10.75 crore shares as the company has raised Rs 2,346.7 crore from 64 anchor investors including Baillie Gifford Pacific Fund, Schorder International, AIA Singapore, Amansa Holdings, Aberdeen, Goldman Sachs, and Singapore.
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