CPI inflation rises to 17-month high of 6.95%
Retail inflation in India soared to the highest level since October 2020, led by a rise in the prices of food items. Consumer Price Index (CPI) inflation stood at 6.95% in March 2022, compared to 6.07% in February. Inflation in food items and beverages rose 7.47% in March, compared to 5.93% in Feb. Fuel and light inflation stood at 7.52% last month, compared to 8.7% in February. Inflation in personal care items saw the sharpest monthly rise of 1.7% in March.
India’s Index of Industrial Production (IIP) rose 1.7% YoY in February. The index fell 4.7% on a month-on-month basis.
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Tata Motors Group global wholesales rise 2% YoY in Q4
Tata Motors Group reported a 2% YoY increase in global wholesales (including Jaguar Land Rover) at 3,34,884 units in Q4 FY22. Global wholesales of its commercial vehicles and Tata Daewoo range stood at 1.22 lakh units, registering a growth of 12% YoY. However, passenger vehicle global wholesales declined by 4% YoY to 2.12 lakh units in Q4.
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Adani Green’s total operational capacity rises 56% in Q4
Adani Green Energy Ltd (AGEL) reported a 56% YoY increase in its total operational capacity to 5,410 megawatts (MW) in Q4 FY22. The sale of energy rose 84% YoY to 29.71 crore units during the same period. AGEL also entered the list of top 10 valued firms as its market capitalisation zoomed over Rs 4.3 lakh crore.
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Shriram City aims to grow gold loan book to Rs 20,000 crore over next 5 years
Shriram City Union Finance Ltd is targeting to grow its gold loan book to Rs 15,000-20,000 crore over the next five years. As of December 31, 2021, the non-banking finance company’s (NBFC) gold loan book stood at Rs 4,110 crore. Shriram City announced the launch of its gold loan product across 70 branches in Punjab, Rajasthan, Haryana, Himachal Pradesh, Jammu & Kashmir, and New Delhi.
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Alembic Pharma’s subsidiary gets final approval for Lidocaine cream
Aleor Dermaceuticals has received final approval from the US Food & Drug Administration (USFDA) for lidocaine and prilocaine cream. The product is indicated as a topical anesthetic for use on normal intact skin for local analgesia and genital mucous membranes for superficial minor surgery. As per IQVIA data, lidocaine and prilocaine cream had an estimated market size of $29 million for the 12 months ended December 2021. Aleor Dermaceuticals is a wholly-owned subsidiary of Alembic Pharmaceuticals Ltd.
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Mahindra Lifespace commits to develop only net-zero buildings from 2030
Mahindra Lifespace Developers Ltd has pledged to develop only net-zero buildings from 2030 onwards. It is part of the company’s commitment to Mahindra Group’s 2040 carbon neutrality goals. As part of this initiative, the developer has launched India’s first net-zero energy project spread over 7.74 acres in Bangalore. The company will invest around Rs 500 crore to develop the project, with estimated revenue of Rs 600-650 crore.
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Coal India capex up 12% to record Rs 14,834 crore in FY22
Coal India Ltd (CIL) scaled up its capital expenditure (capex) to Rs 14,834 crore in FY22, 101% of the set target and the highest spend so far. The capex increase in FY22 was 12% higher than Rs 13,284 crore in FY21. Most of the capex was utilised for procurement of heavy earth-moving machinery (HEMM), setting up silos, and creating rail infrastructure for coal transportation. Land and HEMM combined accounted for 40% of the total capex at Rs 5,867 crore.
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Aditya Birla Capital’s overall lending book grows 10% YoY in Q4
Aditya Birla Capital Ltd’s overall lending book grew 10% YoY to approx. Rs 66,900 crore as of March 31, 2022 (Q4 FY22). In the NBFC segment, gross loan disbursement stood at Rs 9,500 crore in Q4, an increase of 45% YoY (or 43% QoQ). In the housing finance segment, rebound in gross disbursal stood at ~Rs 1,310 crore, a growth of 16% YoY. The total gross written premium of the life & health insurance segment surged 24% YoY to over Rs 13,700 crore in FY22.
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G M Breweries Q4 Results: Net profit falls 11.6% YoY to Rs 40 crore
G M Breweries Ltd reported an 11.6% YoY decline in net profit to Rs 40.08 crore for the quarter ended March (Q4 FY22). Its revenue from operations rose 11.15% YoY to Rs 141.94 crore during the same period. Meanwhile, net profit for the financial year 2021-22 (FY22) increased by 16.57% YoY to Rs 83.36 crore. Revenue grew 34.8% YoY to Rs 458.47 crore in FY22.
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BPCL to explore green energy possibilities in Odisha
The Odisha government has signed an agreement with Bharat Petroleum Corporation Ltd (BPCL) for exploring green energy possibilities. BPCL aims to study the feasibility of setting up hydrogen production plants for domestic use and export. The company targets to set up a renewable energy production capacity of 10 gigawatts, with a mix of solar, wind, small hydro, and biomass by 2040.
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