Retail inflation accelerates to 7.79% in April; March IIP growth at 1.9%
India's retail inflation surged to 7.79% in April, largely driven by rising fuel and food prices and staying well above the Reserve Bank of India's upper tolerance limit for a fourth consecutive month, government data showed on Thursday. This is the highest inflation rate since October 2020.
The jump in CPI inflation has been long anticipated following the Centre's decision to wait until after key state elections in March to hike fuel prices. Energy prices globally have soared since Russia's invasion of Ukraine in late February. Read more
L&T Q4 net profit rises 10% to Rs 3,621 cr, firm declares dividend of Rs 22
Infrastructure major Larsen & Toubro on Thursday reported 10% rise in consolidated net profit at Rs 3,621 crore for the quarter ending March 31, 2022.
The company's Board of Directors recommended a final dividend of Rs 22 per equity share for FY22. Read more
Tata Motors Q4 net loss narrows to Rs 1,033 cr; revenue falls 11%
Passenger vehicle major Tata Motors on Thursday reported narrowing of consolidated net loss (attributable to shareholders of the company) to Rs 1,033 crore for the quarter ending March 31, 2022. It reported consolidated net loss of Rs 7,605 crore in the year-ago period and Rs 1,516 crore in Decemeber quarter.
Consolidated revenue declined 11% to Rs 78,439 crore as against Rs 88,628 crore in Q4FY21. Read more
Bitcoin falls to lowest in 16 months by $26,970, giving up 2021 gains
Bitcoin fell to its lowest in 16 months on Thursday, leading a rush out of risk assets such as tech stocks, while the collapse of TerraUSD, a so-called stablecoin, underscored the strain on cryptocurrency markets.
The world's largest cryptocurrency dropped as low as $26,970, to stand at its lowest since Dec. 28, 2020. In the last eight sessions, it has lost a third of its value, or $13,000.