Amid the doom and gloom of joblessness and a dip in the country’s growth rate, Thursday brought a glimmer of hope. Here’s a roundup:
India’s industrial output in August jumps 4.3% year-on-year
The Indian Index of Industrial Production (IIP) for August released on Thursday showed that factory output grew 4.3 per cent against the same month last year on the back of robust mining and electricity sector growth.vAccording to the Ministry of Statistics and Programme Implementation, manufacturing output in the country in July 2017 had grown marginally by 1.2 per cent as compared to the corresponding month of last year.
India’s retail inflation static at 3.28% in September
India’s annual retail inflation remained static in September with a marginal drop in the food prices, official data showed on Thursday. According to the data furnished by the Ministry of Statistics and Programme Implementation, September’s consumer price index (CPI) inflation remained static at 3.28 per cent as compared to August. However, on a year-on-year (YoY) basis, the country’s September retail inflation was lower than the 4.39 per cent CPI rate reported for the corresponding month of last year.
BSE Sensex reclaims 32k-level; healthy buying, global cues lift equities
Key Indian equity indices closed on a higher note on Thursday buoyed by positive global cues and intense buying activity during the last hour of trade. Index heavyweights like Reliance Industries (RIL), Tata Consultancy Services (TCS), Sun Pharma, Axis Bank and Hindustan Unilever, among others, aided in the upward trajectory of the indices, according to market observers.
The 30-scrip Sensitive Index (Sensex) of the BSE closed above the psychologically important 32,000-mark, which was breached for the first time on July 13. The Sensex closed at 32,182.22 points — up 348.23 points, or 1.09 per cent — after touching a high of 32,209.03 points and a low of 31,813.67 during intra-day trade.
TCS posts robust revenue, net growth in dollars
IT major Tata Consulting Services (TCS) posted robust revenue and net growth for the second quarter of 2017-18 in dollar terms on sequential and annual basis, a company official on Thursday.
“With 93 per cent of revenue from exports, including 53 per cent from the US, 27 per cent from Europe and Britain and 13 per cent from rest of the world, our performance in dollar terms was robust in the July-September quarter,” a TCS official told IANS here.
Under the International Financial Reporting Standards or in dollar terms, the net income at $1,000 million in Q2 was up 8.4 per cent from $923 million quarter ago and 1.6 per cent up from $984 million in the same period year ago.