Business News Highlights: Inflation, GDP Numbers, Upcoming IPOs To Drive Markets Ahead
Business News Highlights: Please follow this space for all the breaking news and latest updates from the Stock Market, economy and corporate world
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Business News Highlights: Hello and welcome to ABP Live's Business LIVE blog. Please follow this space for all the breaking news and latest updates from the Stock Market, economy, and the corporate world.
Stock markets observed a holiday on Friday to celebrate the festival of Mahashivratri. In the last trading session on Thursday, the markets ended trading on a muted note after experiencing massive highs during the day. The Sensex closed at 74,119.39, while the Nifty settled at 22,493.50.
In the week, investors will keenly observe the macroeconomic data to be released. On the domestic end, the consumer price index-based (CPI) inflation or retail inflation data for February is scheduled to be released on Tuesday, along with the index of industrial production (IIP) data for the month. The wholesale price index (WPI)-based inflation data is also set to be revealed in the latter half of the week.
Globally, inflation data for several countries is expected to be released soon. The United States is set to unveil its inflation figures in the first half of the week and also release its Producer Price Index (PPI) numbers on Thursday. Other major macroeconomic data will be released in the week from Japan, UK, and the Euro Zone. Japan will release its GDP numbers along with the unemployment rate in the week. The United Kingdom will also reveal its GDP figure. Further, the ECB interest rate meeting will also be concluded in the week.
Among the major initial public offerings (IPOs) expected in the week are Popular Vehicles & Services IPO, opening on March 12, and Krystal Integrated Services IPO, to start accepting bids from March 14. Gopal Snacks IPO will also close on March 11.
Share debuts in the week will include Bharat Highways InvIT and RK Swamy, set to start trading on March 12. JG Chemicals will mark its debut in the market on March 13.
Demand For Chartered Planes To Shoot Up 40 Per Cent For Elections, Estimates Club One Air CEO
Demand for chartered planes and helicopters is expected to climb 40 per cent, as compared to the previous general elections as political parties gear up for battle in the Lok Sabha polls. In a conversation with PTI, Club One Air CEO, Rajan Mehra, said "There will be an exponential demand for private jets and the demand is expected to outstrip the availability of chartered planes and helicopters. There is a limited supply of chartered planes and helicopters."
Stationery, Toys Manufacturer, Stone Sapphire India To Invest Rs 1,000 Crore For Manufacturing Facility
Stone Sapphire India plans to invest Rs 1,000 crore to establish a manufacturing facility for homewares like dinnerware, sippers, etc. In a conversation with PTI, Vick Rana, chairman of the toys and stationery manufacturer, said, "Homeware products available in India are either for the lower class or very high-end for the elite and leave a huge vacuum for middle-class consumers. Our work on new plant and capacity expansion has already begun in Baroda which is focused on the homeware segment. We are investing Rs.1000 crore on this expansion."
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