India's retail inflation unexpectedly jumped to a 14-month high of 6.2% in October, driven by soaring vegetable, fruit, and edible oil prices. This surge breaches the central bank's target range and delays the possibility of interest rate cuts. Economists predict inflation will remain elevated for a few months before gradually easing towards the Reserve Bank of India's target rate.
During the quarter, raw material costs for the company were up by 7.8% from a year ago, driven by high inflation in the cost of wheat, palm oil, cocoa and sugar. The input cost as a proportion of revenue rose to 59.8% of sales compared with 57.9% a year ago. This directly impacted profitability, as the operating profit margin dropped by 280 basis points (bps) to 15.5%.
Average daily trading volumes in half a dozen major exchanges have surged 3 times in less than a week despite crippling taxes and a shadow ban by most banks. Investors who were sitting on losses for close to 18 months are suddenly in the money
The IPO comprised an offer for sale of 70.22 crore shares by promoter Sagility BV, aggregating up to 2,106.06 crore at the upper price band. The company provides technology-enabled business solutions and services to clients in the US healthcare industry.
The grey market premium - the price in the unofficial market that investors pay for the unlisted shares before listing - was at 2 for Swiggy on Tuesday, a 0.5% premium to the upper price band of - 390.
