CPI at 106 points in April; fruits, protein-based items up

According to experts, with the passage of the time, the new index would take over Wholesale Price Index (WPI) as the main benchmark to measure inflation

New Delhi: Fruits and protein-based items became more expensive during April, though the overall Consumer Price Index (CPI) based on retail prices remained stable at 106 points, at the same level as seen in March, reports PTI.

At the all-India level, the index for fruits rose by 10% to 131 points in April vis-à-vis March.

Similarly, the indices for eggs, fish and meat went up by almost 2% in April vis-à-vis March to 110 points, while milk went up marginally to 110 points.

There was also a 3.64% rise in retail prices of pan and tobacco to 114 points, while condiments and spices were up by 1.75% at 116 points.

However, vegetable prices fell by 4% in the month under review to 95 points.

Overall, the 'food, beverages and tobacco' segment of the CPI moved up to 107 points in April from 106 in the previous month.

While the CPI, according to the new series, increased to 106 in April this year from a base of 100 in 2010, the government will wait "till the series gets stabilised" and adequate timely receipt of price data is achieved before it begins to release the retail inflation figures from next year.

As per the data released by the government today, the general indices for rural and urban consumers stood at 108 and 105 points, respectively.

In March, the general indices for rural, urban and combined consumers had stood at 107, 104 and 106 points, respectively.

Meanwhile, the February numbers have been maintained at the original estimates of 107 points for rural consumers and 104 points for urban consumers. The combined index in February was recorded at 105 points.

These consumer indices have been released for five major groups-food, beverages and tobacco; fuel and light; housing; clothing, bedding and footwear; and miscellaneous items.

While 'fuel and light' was up marginally up at 108 points in April, as against 107 in March, 'clothing, bedding and footwear' stood at 112 points on an all-India basis in the month under review, marginally up from 110 in the previous month.

The CPI for miscellaneous items was pegged at 106 points on a countrywide basis in April, up from 105 in March.

The new CPI was introduced to reflect the actual movement of prices at the micro-level and help policy-makers like the Reserve Bank of India (RBI) in better framing of decisions.

According to experts, with the passage of the time, the new index would take over Wholesale Price Index (WPI) as the main benchmark to measure inflation.

Inflation, as measured by the WPI, was measured at 8.66% in April, which was below the RBI's projection of a 9% average in the first half of the fiscal.

During the unveiling of the new index earlier this year, the government had said it would continue the practice of giving the figures in the present form without quoting the inflation rate for one year.

This would be "till the series gets stabilised" and adequate timely receipt of price data is achieved.

User

Bajaj Auto Q4 net profit soars two-fold to Rs1,400 crore

For the fiscal 2010-11, the company's standalone net profit soared by 96.44% to Rs3,339.73 crore from Rs1,700.11 crore in the previous fiscal. Sales of the company stood at 38,23,954 units in FY10-11 compared to 28,52,580 units in FY09-10, up 34.05%

New Delhi: The country's second largest two-wheeler maker Bajaj Auto today reported an over two-fold jump in its standalone net profit for the quarter ended 31 March 2011, to Rs1,400.39 crore compared to 528.65 crore for the corresponding period last year, Bajaj Auto said in a filing to the Bombay Stock Exchange (BSE).

During the January-March quarter, the company's vehicle sales rose by 17.21% to 9,48,198 units from 8,08,973 units in the same period of 2009-10, reports PTI.

For the fiscal 2010-11, the company's standalone net profit soared by 96.44% to Rs3,339.73 crore from Rs1,700.11 crore in the previous fiscal.

Standalone total income in the last fiscal went up by 39.33% to Rs16,608.93 crore from Rs11,920.98 crore in 2009-10, the company said.

The automobile sales of the company stood at 38,23,954 units in FY10-11 compared to 28,52,580 units in FY09-10, up 34.05%, it added.

The company's board has recommended a dividend of 400%, which is Rs40 per equity share, on the expanded share capital after issue of bonus share in the ratio of 1:1. This will result in a total outgo of Rs1,345 crore.

Shares of the company were down 1.24% at Rs 1,292 apiece during late afternoon on the BSE.

User

TCS, HDFC named India’s best managed companies

TCS and HDFC are followed by IT major Infosys, telecom giant Bharti Airtel and PSU behemoth ONGC in the list of the top-five best managed companies in the country, according to an annual poll conducted by Finance Asia magazine

New Delhi: IT giant TCS and financial services major HDFC have been named as India's two best managed companies in an annual poll conducted by Finance Asia magazine, reports PTI.

TCS and HDFC are followed by IT major Infosys, telecom giant Bharti Airtel and PSU behemoth ONGC in the list of the top-five best managed companies in the country.

The report also named TCS' Natarajan Chadrasekaran and ICICI Bank's Chanda Kochhar as the two best CEOs of the country, while Infosys' V Balakrishnan and Tata Steel's Koushik Chatterjee have been named the two best CFOs.

The results are a part of an annual poll conducted by Finance Asia to find the region's best managed companies, based on votes from more than 300 investors and analysts across the region, the magazine said.

Other companies on the list of India's best managed companies include SBI at 6th place and Page Industries at 7th position, while as many as four companies-Reliance Communications, Cadila Healthcare, Tata Group and Tata Motors-were ranked at the 8th position.

In terms of best corporate governance practices, Infosys has been ranked at the top, followed by HDFC, Wipro, Tata Group, ONGC, TCS, Bharti Airtel, RCom and Tata Motors.

In terms of best investor relations, HDFC was on top, followed by Infosys, Wipro, Bharti Airtel, ONGC, TCS, RCom, Reliance Industries and SBI.

Tata Steel has topped the list of best companies for corporate and social responsibility, followed by Tata Motors, Bharti Airtel, ONGC, NTPC, SBI, RCom, Wipro and Infosys.

In terms of commitment to a strong dividend policy, Infosys has been ranked at the top, followed by Page Industries, HDFC, ONGC, Tata Group, GE Shipping, VST Industries, RCom, ITC and Wipro.

The poll also named eClerx and Vardhman Textiles as the two best mid-cap companies in the country, while MM Forgings and SKF India were found to be the best small-cap companies.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)