India's <keyword id="16056" type="General" weightage="20" keywordseo="services" source="Orion">services</keyword> sector growth accelerated in April, as strong demand conditions resulted in the fastest increase in new business and output in close to 13 years, a monthly survey said on Wednesday. The pick-up in demand occurred in spite of escalating price pressures. The seasonally adjusted <keyword id="30287" type="General" weightage="20" keywordseo="sp" source="Orion">S&amp;P</keyword> <keyword id="17050419" type="General" weightage="20" keywordseo="global-india-services" source="Orion">Global India Services</keyword> <keyword id="104215" type="General" weightage="20" keywordseo="pmi" source="Orion">PMI</keyword> Business Activity Index rose from 57.8 in March to 62.0 in April, signalling the fastest expansion in output since mid-2010, amid a pick-up in new business growth and favourable market conditions. For the 21st straight month, the headline figure was above the neutral 50 thresholds. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. "India's service sector posted a remarkable performance in April, with demand strength backing the strongest increases in new business and output in just under 13 years. Finance &amp; Insurance was the brightest spot, topping the sectoral growth rankings for both measures," said Pollyanna De <keyword id="15735" type="General" weightage="20" keywordseo="lima" source="Orion">Lima</keyword>, Economics Associate Director at S&amp;P Global Market Intelligence. Monitored companies signalled an improvement in international demand for Indian services in April. The new export business expanded for the third month in succession and at the fastest pace over this period. On the prices front, input costs rose at the quickest pace in three months during April. According to survey members, food, fuel, medicine, transportation and wages were the main sources of inflation. Consumer services recorded the fastest upturn in average expenses. The combination of rising input costs and demand resilience urged services companies to lift their selling prices in April. The rate of charge inflation was marked and the strongest in 2023 so far. On the jobs front, despite the substantial uptick in new orders, staff levels in the service sector increased only marginally at the start of the first fiscal quarter. Whereas some companies lifted headcounts due to rising output needs, the vast majority left them unchanged amid sufficient workers for current requirements. "One area of weakness highlighted in the latest results was the labour market. Despite the substantial pick-up in sales growth and improved business sentiment towards the outlook, the increase in employment seen in April was negligible and failed to gain meaningful traction," Lima said. Going ahead, marketing efforts, plans to price competitively and an increased focus on customer relations boosted business confidence in April. "Close to 22 per cent of companies forecast growth of business activity over the course of the coming 12 months, compared with 2 per cent that anticipate a reduction," the survey said. Meanwhile, the S&amp;P Global India Composite PMI Output Index -- which measures combined services and manufacturing output -- rose from 58.4 in March to 61.6 in April, its highest mark since July 2010. Despite the substantial upturn in sales, job creation across the private sector remained mild. Rates of expansion were broadly similar at manufacturing firms and their service counterparts. At the composite level, input costs rose at the fastest pace since January and charge inflation reached a four-month high. The S&amp;P Global India Services PMI is compiled by S&amp;P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Data collection began in December 2005. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/pixel-7a-with-tensor-g2-chipset-and-dual-camera-setup-to-launch-in-india-on-may-11/articleshow/99952642.cms">Pixel 7a with Tensor G2 chipset and dual camera setup to launch in India on May 11</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/credit-demand-records-double-digit-growth-in-march-even-as-lending-rates-go-up-careedge/articleshow/99951040.cms">Deposit rates rise faster than lending rates in March 2023: CareEdge</a>

India's services sector growth climbs to near 13-year high in April: PMI

<ul><li>In April, the decrease in inflation is mainly attributed to decline in prices of cereals, wheat, vegetables, poultry, fish, minerals, crude petroleum and natural gas, among others.</li><li>Overall wholesale inflation was at 8.39% in October and has been falling since then. </li><li>Sonal Badhan, economist at Bank of Baroda, said this trend is likely to continue as weak global growth momentum, led by the US and China, will maintain downward pressure on prices. </li></ul><keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>’s wholesale inflation based on the Wholesale Price Index (<keyword id="46000" type="General" weightage="20" keywordseo="WPI" source="Orion">WPI</keyword>) turned negative in April at minus 0.92%, official data released on Monday by the Ministry of Commerce and Industry showed. This is the first time it has entered negative territory since July 2020. The decrease in inflation in April is mainly attributed to the decline in food articles, cereals, wheat, vegetables, potato, fruits, eggs, meat and fish, minerals, crude petroleum and natural gas, and steel, among others. “Within food, while prices of vegetables, milk, eggs, meat and fish exhibited downward pressure, upward movement in prices of food grains, particularly pulses and paddy needs to be watched more closely. Manufactured products have benefited much from the decline in international commodity prices,” said Sonal Badhan, economist at Bank of Baroda. Badhan said this trend is likely to continue as weak global growth momentum, led by the US and China, will maintain downward pressure on prices. Even oil prices are seen weakening, which in turn will provide support to fuel and power inflation index. Going ahead, we maintain that the trajectory of food prices in the wake of ongoing heat wave conditions and performance of monsoon will be critical, Badhan said. Wholesale inflation has been easing – in March it was at 1.34% against 3.85% in February. Overall wholesale inflation has been on a downward trend since October when it hit 8.39%. Notably, the WPI-based inflation had been in double digits for 18 months in a row till September. Retail inflation comes below <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword>’s upper tolerance limit This April, retail inflation eased sharply to 4.7%, an 18-month low, as against 5.7% the previous month. It is closing in on the lower tolerance limit of the Reserve Bank of India’s (RBI) 4-6% target. India's retail inflation was above RBI's 6% target for three consecutive quarters and had managed to fall back to the RBI's comfort zone only in November 2022. “Looking ahead, a favourable base and continued ebbing of demand will help in bringing the headline CPI number lower in the coming months. A positive outlook for the domestic currency and lower commodity prices could also bode well for the inflation outlook. Nevertheless, we remain wary of upside risks emerging from weather-led disruptions if El Nino conditions turn out to be more severe than currently anticipated. Possible heatwaves in the summer could also pose a concern,” said a report by CareEdge. In early April, the Reserve Bank of India kept interest rates unchanged at 6.25%, in spite of wide expectation that it would raise it by another 25 basis points. RBI’s Monetary Policy Committee (MPC) had unanimously decided to keep the repo rate unchanged, RBI governor Shaktikanta Das had said in his speech. “The decision to pause repo rate is for this meeting only. MPC will not hesitate to take further action in future meetings if it’s needed,” Das added, insisting that the fight against inflation was not over. Before the pause, the MPC had hiked the repo rate six times beginning May 2022, with the total quantum of rate hikes standing at 250 basis points. (With inputs from ANI) SEE ALSO: <a href="https://www.businessinsider.in/finance/news/fii-inflows-may-remain-consistent-in-may-with-turn-in-rate-cycle/articleshow/100234813.cms">FII inflows may remain consistent in May with turn in rate cycle</a> <a href="https://www.businessinsider.in/tech/news/heres-how-googles-new-ai-updates-will-transform-your-search-experience/articleshow/100242791.cms">Here’s how Google’s new AI updates will transform your search experience</a> <a href="https://www.businessinsider.in/tech/mobile/news/how-to-track-and-block-your-lost-smartphones-using-the-sanchar-saathi-portal/articleshow/100242116.cms">How to track and block your lost smartphones using the Sanchar Saathi portal</a>

Wholesale inflation turns negative in April, after retail inflation eases to 18-month low

<ul><li><keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">Inflation</keyword> is hitting companies hard, who have been forced to borrow more. </li><li>Worse yet, their borrowings are towards funding working capital requirements, not capex.</li><li>Highly leveraged companies will face tough headwinds in the continuing high-interest rate regime.</li></ul>Inflation has shaken up economies all over the world, regardless of their development status. The resultant <keyword id="37018" type="General" weightage="20" keywordseo="interest-rate" source="Orion">interest rate</keyword> hikes are burdening the balance sheets of a majority of Indian companies and affecting their capital expenditure plans. The interest rates were increased for the first time since 2018, ending an era of low interest rates, and upending the business models of many companies. Inflation has been above Reserve Bank of India’s (<keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword>) tolerance level for five months straight – the CPI inflation in May was 7.04%, 75% above RBI’s medium-term target of 4%. This forced the central bank to raise interest rates twice in a month, from 4% to 4.9%. As a result, banks and financial institutions immediately announced hikes in interest rates, increasing the borrowing costs for everyone. Yet, credit has grown multifold across segments. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Credit growth </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16.4% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Industry </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">8.7% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Services </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">12.9% </td></tr></tbody></table>Source: CareEdge, May 2022 <cmsannotation type="cmsannotation" annotationid="Working Capital takes precedence" comment="subhead" text="Working Capital takes precedence">Working Capital takes precedence</cmsannotation> Worse yet, companies are borrowing to meet their working capital requirements, not capex. Essentially, this means that companies are finding it difficult to even get by, forget investing in their future and growth. Working capital loans are usually short-term and attract a higher rate of interest than long-term borrowings. In a high-interest-rate regime – such as the one we are in now – this can prove to be a disaster if the cash crunch continues. According to a report by CareEdge, bank credit grew by ₹14.1 lakh crore over the last 12 months. “The growth was driven by a low-base effect, small-ticket loans, an increase in working capital loans due to higher inflation and shift to bank borrowings on account of rising bond yields,” the report stated. The outstanding liquidity surplus dropped from ₹4.3 lakh crore to ₹3.3 lakh crore – that is a decline of ₹1 lakh crore in just two weeks, from June 3 to June 17. This is a direct result of RBI’s hike in interest rates to tame inflation, but for companies surviving on working capital loans, this only makes matters worse. <cmsannotation type="cmsannotation" annotationid="High-debt companies to face growing headwinds" comment="subhead" text="High-debt companies to face growing headwinds">High-debt companies to face growing headwinds</cmsannotation> While there are plenty of companies in India with no or low debt – some examples include giants like Maruti Suzuki and TVS Motor, apart from Bayer Cropscience and Bharat Electronics, among others – most of the prominent business houses of India have taken on a considerable amount of debt. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Company/group </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Total debt </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Tata Group </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹2,89,080 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹2,66,305 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Group </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹2,29,857 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Adani Group </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹2,18,271 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1,62,792 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mahindra Group </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹74,667 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Group </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹61,253 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹13,02,225 crore </td></tr></tbody></table> Source: Company reports, as at March 2022 In a high-interest-rate regime, finance costs become a bigger part of expenses, leaving lesser cash for companies to fund their operations. It also discourages companies from borrowing more and the propensity of using credit to fund capex reduces, as companies look at shorter-term needs to try and minimize costs. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tatas-to-ambanis-adanis-and-birlas-fortunes-of-these-high-debt-companies-could-change-after-rate-hikes/articleshow/92126846.cms">Tatas to Ambanis, Adanis and Birlas – fortunes of these high debt companies could change after rate hikes</a> <a href="https://www.businessinsider.in/finance/news/rbis-efforts-to-save-rupee-has-made-a-big-dent-in-its-forex-reserves/articleshow/92654557.cms">RBI’s ‘Save the Rupee’ bill has hit over $40 billion already and it could add another $40 billion this year</a> <a href="https://www.businessinsider.in/business/corporates/news/ambani-and-adani-valuations-surge-while-tatas-birlas-see-major-declines-in-the-first-half-of-2022/articleshow/92593235.cms">Ambani and Adani valuations surge while Tatas, Birlas see major declines in the first half of 2022</a>

Inflation is making Indian companies borrow more – that's bad news when interest rates are high

<ul><li>India’s benchmark indices have touched new all-time highs in 2022 thanks to a rally in several key sectoral indices. </li><li>While the charge was led by <keyword id="6372319" type="General" weightage="80" keywordseo="psu-bank" source="Orion">PSU bank</keyword>, FMCG and metal indices, other key sectors also pitched in with substantial contributions. </li><li>Overall, eight sectoral indices posted gains in 2022, while six indices registered declines. </li></ul>India’s benchmark indices have touched new all-time highs in 2022 thanks to a rally in several key sectoral indices. Leading the charge were the PSU bank, FMCG and metal indices, with substantial contributions from several other key sectors. Overall, eight out of the fourteen <keyword id="6354813" type="General" weightage="20" keywordseo="Nifty" source="Orion">Nifty</keyword> sectoral indices have gained so far this year – with their gains handsomely topping the benchmark <keyword id="2931774" type="General" weightage="20" keywordseo="Nifty50" source="Orion">Nifty50</keyword>’s 4.4% returns this year. <div type="image" title="Sectoral indices Nifty Jan-Dec 2022." msid="96448679" hostid="261" sizebytes="20876" caption="&amp;lt;p&amp;gt;Best and worst performing sectoral indices of Nifty in 2022&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="PSU bank index rules" comment="subhead" text="PSU bank index rules">PSU bank index rules</cmsannotation> The PSU Bank index emerged as the top sectoral winner, recording gains of nearly 73% – or about 16x the gains of the Nifty50. Despite this increase, the PSU bank index’s price-to-book (PB) ratio is considerably lower at 1.2. This number has risen from 0.67 at the beginning of 2021 and 0.89 at the beginning of 2020. PB ratio measures a company’s market capitalisation to its book value by dividing the share price by the book value per share. A value lower than up to 3 is considered good for value investments. It’s not just the PSU banks index that has rallied in the banking universe – the <keyword id="15863733" type="General" weightage="50" keywordseo="nifty-private-banks" source="Orion">Nifty Private Banks</keyword> index, and the broader <keyword id="722345" type="General" weightage="50" keywordseo="nifty-bank" source="Orion">Nifty Bank</keyword> index have both seen a surge. Both the indices are currently trading at a PB ratio of 2.9. “Banking stocks have been going up for a few reasons – one is, the credit growth has now started picking up nicely, the net interest margins (NIMs) are improving, and asset quality, so far, has been stable as there is no deterioration. All three put together have led to re-rating of banking stocks,” <keyword id="161383" type="General" weightage="50" keywordseo="deepak-jasani" source="Orion">Deepak Jasani</keyword>, head of retail research at <keyword id="103838" type="General" weightage="50" keywordseo="hdfc-securities" source="Orion">HDFC Securities</keyword>, told Business Insider India. Among the best performers were also the FMCG, auto, metals and oil &amp; gas indices – all of which gained between 16-21%. The FMCG sector benefited from softening commodity prices – for instance, the prices of palm oil, a key input, softened from highs of $1,800 per tonne to $880 now, easing the pressure on margins. The auto sector rebounded after a slump in 2021, thanks to the resumption of travel, offices, schools and colleges. Coupled with 2022 being a disruption-free year, the auto industry witnessed an improvement in demand. Metal stocks, on the other hand, faced multiple headwinds this year due to rising energy and input prices. However, those concerns have started to ease and analysts believe a pick up in prices should translate to margin improvements. Lastly, the oil and gas sector gained on account of a boil in energy prices due to the Russia-Ukraine war sparking a rush to shore up oil and gas reserves. <cmsannotation type="cmsannotation" annotationid="IT, pharma indices among top losers" comment="subhead" text="IT, pharma indices among top losers">IT, pharma indices among top losers</cmsannotation> After an unprecedented rally in 2020 and 2021, the IT and pharma indices have emerged as the top losers in 2022 so far. The Nifty IT index, for instance, gained 145% in total between 2020 and 2021, while the Nifty Pharma index gained 76% in the two years. However, the trend reversed in 2022. While the IT index lost the most at almost 26%, the pharma index shed nearly 9%. According to a CareEdge report, the pharma sector lost steam as it came off the Covid boost and as supply chain disruptions resulted in a rise in the cost of active pharmaceutical ingredients (APIs), the key ingredients of a drug. The wearing off of the Covid boost also affected the healthcare sector, with the index declining over 9% this year. Consumer durables, which was the second-biggest sectoral loser this year, struggled due to a rise in commodity prices resulting in multiple price hikes. Coupled with interest rate hikes pushing EMIs higher for customers, 2022 was a disappointing year for investors in this sector. The realty and media sectors also lost their sheen this year as inflation and recessionary concerns spooked investor sentiment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/foreign-portfolio-investors-flows-in-2022-in-india/articleshow/96223765.cms">FPI flows in 2022 – a tale in two parts</a> <a href="https://www.businessinsider.in/stock-market/news/yes-bank-shares-decline-after-rallying-26-in-five-days/articleshow/96226772.cms">Yes Bank shares tumble after rallying 26% in the last five days – analysts recommend caution</a> <a href="https://www.businessinsider.in/stock-market/news/best-and-worst-performing-ipos-of-2022-in-india/articleshow/96160391.cms">Best and worst performing IPOs of 2022</a>

Best and worst performing sectoral stock market indices in 2022

<ul><li><keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> announced a 35-basis point rate hike on Wednesday, after three consecutive 50 bps rate hikes earlier.</li><li>However, RBI governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword>’ commentary on inflation being “sticky” has been perceived as being slightly hawkish by analysts.</li><li>Overall, Das’ statement today indicates that there will be another rate hike in February next year, likely around 25 basis points.</li></ul>The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword><a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-35-bps-taking-rates-to-a-high-of-6-25/articleshow/96045841.cms"> announced a 35-basis point rate hike</a> on Wednesday, in line with analyst expectations. While it is a downshift from the earlier triple 50 bps rate hikes, RBI governor Shaktikanta Das’ commentary is still slightly hawkish, according to analysts. Overall, the<a href="https://www.businessinsider.in/finance/news/slower-rate-hikes-on-the-cards-say-analysts-ahead-of-rbis-december-monetary-policy-meet/articleshow/95881537.cms"> consensus</a> amongst analysts was for a 25-35 basis points rate hike, and Das himself acknowledged that the bank and market’s views converged this time. However, Das reiterated that the fight against inflation was not over and that the central bank was watching it keenly - with “Arjuna’s eye” – a reference to the keen powers of concentration of a key hero in the epic Mahabharata. While announcing the rate hike today, Das also said that further calibrated monetary policy action was needed to keep inflation expectations anchored – indicating future rate hikes. “On balance, the MPC was of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored, break core inflation persistence and contain second round effects. These actions will strengthen the medium-term growth prospects of the Indian economy,” Das said. So far, RBI has announced five rate hikes, totalling 225 basis points. With the latest hike, the <keyword id="43352" type="General" weightage="20" keywordseo="repo-rate" source="Orion">repo rate</keyword> stands at 6.25%. Analysts suggest there could be a 25 basis point hike in February next year, which would take the repo rate to 6.5%. <cmsannotation type="cmsannotation" annotationid="Sticky inflation makes the case for another rate hike, say analysts" comment="subhead" text="Sticky inflation makes the case for another rate hike, say analysts">Sticky inflation makes the case for another rate hike, say analysts</cmsannotation> Das underlined that while the inflation target for FY23 remained unchanged at 6.7%, it was still above RBI’s upper tolerance band of 6%. He also said that while the central bank expects food inflation to soften, the core inflation excluding food and fuel remains sticky. Das underlined that the prices of cereals, milk and spices remain pressure points. “The battle against inflation is far from over; we remain on guard. We have lowered the size of the hike, which is important and tells you of a shift,” said RBI deputy governor Michael Patra in a press conference, adding that the worst of inflation was over. This, according to analysts, makes the case for another rate hike. “RBI indicated a further calibrated rate hike, as headline inflation will remain above the target of 6% till Q4 FY23. This implies a 25 bps rate hike in February 2023,” said Amar Ambani, head, institutional equities, Yes Securities. While the quantum of rate hikes has come down, Das’ comments were seen by analysts as being slightly hawkish with RBI’s stance on inflation and rate hikes remaining unchanged. “In our view, today’s policy is somewhat more hawkish than expected with sticky and elevated core inflation being an additional focus,” said Garima Kapoor, economist, Elara Capital. While RBI’s rate hike was in line with analyst expectations, the commentary on inflation was not as widely expected. “Summarising, rate hike as per expectations, commentary hawkish, which was not expected but is appropriate, and overall, a good policy which should give confidence to bond markets in the long run,” said Sandeep Bagla, CEO, Trust Mutual Fund. <cmsannotation type="cmsannotation" annotationid="Domestic data, global developments to influence monetary policy" comment="subhead" text="Domestic data, global developments to influence monetary policy">Domestic data, global developments to influence monetary policy</cmsannotation> Das said the inflation target for FY23 was unchanged, but it should come down to 5% in Q1 FY24, and edge up to 5.4% in Q2 FY24, assuming a normal monsoon. RBI also <a href="https://www.businessinsider.in/finance/news/rbi-downgrades-fy23-gdp-growth-projections-to-6-8-percent/articleshow/96047963.cms">downgraded</a> its GDP growth outlook for FY23 to 6.8% from 7% it had predicted in September this year. Analysts say RBI was likely to wait to see the impact of rate hikes so far, since monetary policy tightening has a delayed impact. “Going forward, RBI’s policy decision would not just be dependent on domestic data but also the developments on the global front. As real rate of interest moves to the positive territory, RBI would like to wait and watch the implications of the rate hikes so far,” said Rajani Sinha, chief economist, CareEdge. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-35-bps-taking-rates-to-a-high-of-6-25/articleshow/96045841.cms">RBI hikes repo rate by 35 bps, taking it to 6.25% – Das says bank has ‘Arjuna’s eye’ on inflation</a> <a href="https://www.businessinsider.in/personal-finance/news/be-prepared-to-pay-higher-emis-no-room-for-loan-tenor-increase-after-rbis-latest-rate-hike/articleshow/96052276.cms">Be prepared to pay higher EMIs: No room for loan tenor increase after RBI’s latest rate hike</a> <a href="https://www.businessinsider.in/finance/news/rbi-downgrades-fy23-gdp-growth-projections-to-6-8-percent/articleshow/96047963.cms">RBI downgrades FY23 GDP growth projections to 6.8% - lower than World Bank and other global agencies</a>

RBI’s lower rate hike as expected, but Das’ commentary still hawkish, say analysts

<ul><li><keyword id="6367391" type="General" weightage="20" keywordseo="domestic-travel" source="Orion">Domestic travel</keyword> is expected to be a growth driver for the Indian hospitality and tourism industry.</li><li>International <keyword id="34619" type="General" weightage="20" keywordseo="travel-industry" source="Orion">travel industry</keyword> may still have to wait a little longer for travel to grow at the same rate.</li><li>The credit rating agency emphasized that the slow recovery in international travel could be a silver lining for domestic industry.</li></ul>The cost of everything has been increasing – including the cost of travel – but that is not stopping lockdown-affected Indians as they head on to ‘<keyword id="10039138" type="General" weightage="20" keywordseo="revenge-tourism" source="Orion">revenge tourism</keyword>’. The biggest benefactor of this is the sector that has been hit the hardest since the pandemic – hospitality. While the more lucrative international travel is yet to pick up, domestic travel is expected to be a growth driver for the Indian hospitality and tourism industry, according to credit rating agency CARE Ratings. The sector which has been in retrenchment mode for the last two years has seen a ‘re-alignment of cost structures’ by industry players. This forms a strong base for the profitability of the hospitality sector in the coming months. “FY22 has been a promising year for the sector wherein the revival in the occupancy and RevPAR has led to green shoots for the industry players. The decline in Covid cases, resumption of international flights from March 2022, and strong leisure and wedding demand are the positive factors that should lead to growth in occupancy and ARRs in FY23,” the CARE report said. <cmsannotation type="cmsannotation" annotationid="International travels likely to recover in next two years" comment="subhead" text="International travels likely to recover in next two years">International travels likely to recover in next two years</cmsannotation> Care Ratings is betting on international travel demand to recover gradually through FY23 till the end of FY24. Notably, 25 million tourists travel from India to international destinations annually. The credit rating agency — in a report published in September 2022 — emphasized that the slow recovery in international travel could be a silver lining for domestic industry. “For FY23, CareEdge estimates the majority of its portfolio of hotel companies to report improved performance, largely restored to pre-Covid levels. Domestic tourism is expected to be the key growth driver, with international travel slowly gaining momentum, specifically post resumption of international flights,” the report added. The India tourism and hospitality segment has been witnessing an uptick post relaxation of the lockdown since June 2021 and the decline in Covid-19 infections. The industry did witness a sudden surge in bookings in May 2021 as customers explored the option for staycation and workcation. <cmsannotation type="cmsannotation" annotationid="Challenges still remain" comment="subhead" text="Challenges still remain">Challenges still remain</cmsannotation> A recent Travel &amp; Tourism Development Index by the World Economic Forum (WEF) noted that despite the positive trends, the travel and tourism sector is still facing many hurdles with its recovery. “As the world emerges from the pandemic, economies must invest in building a strong and resilient environment to deliver the travel and tourism experience and services for many decades to come,” Lauren Uppink, Head of Aviation, Travel and Tourism at the World Economic Forum. SEE ALSO <a href="https://www.businessinsider.in/tech/news/airtel-launches-its-first-multiplex-but-in-the-metaverse/articleshow/92200692.cms">Airtel launches its first multiplex, but in the metaverse</a> <a href="https://www.businessinsider.in/business/news/adani-sells-a-fourth-of-its-green-hydrogen-business-to-frances-totalenergies/articleshow/92197541.cms">Adani sells a fourth of its green hydrogen business to France’s TotalEnergies</a> <a href="https://www.businessinsider.in/stock-market/news/burger-king-dominos-kfc-to-see-high-growth-even-as-consumer-staples-suffer/articleshow/92196523.cms">Burger King, Domino's &amp; KFC to see high growth even as consumer staples suffer</a>

Domestic travel, fuelled by revenge tourism, aids growth in hospitality sector

<ul><li><keyword id="524709" type="General" weightage="20" keywordseo="healthcare-in-india" source="Orion">Healthcare in India</keyword> has turned more expensive as the government has levied a 5% goods and services tax (GST) on all non-ICU hospital rooms that cost more than ₹5,000.</li><li>India also imports a lot of <keyword id="6375143" type="General" weightage="20" keywordseo="medicines" source="Orion">medicines</keyword>, even though Indian pharma companies also export to the US and other nations.</li><li>As per a recent survey by LocalCircles, a community social media platform, 52% of respondents feared that a weakening rupee would adversely impact them and their families as <keyword id="6181" type="General" weightage="20" keywordseo="food" source="Orion">food</keyword>, medicines and overall healthcare costs go up.</li></ul>Indians would now have to deal with expensive medical care, which will make a <a href="https://www.businessinsider.in/india/news/indians-are-saving-more-and-working-longer-hours-to-meet-living-expenses-says-study/articleshow/92961985.cms">dent</a> in their home budgets — that are already weighed down by food. The fall in rupee value is the last nail that’s hitting consumers across healthcare needs – be it medical devices, medication and even hospitalization. As per a recent survey by LocalCircles, a community social media platform, 52% of respondents were worried that a <a href="https://www.businessinsider.in/finance/news/zero-tolerance-for-high-volatility-says-rbi-guv-shaktikanta-das-as-rupee-stays-above-80/articleshow/93049194.cms">weakening rupee</a> would adversely impact them and their families as food, medicines and overall healthcare costs go up. India relies heavily on imports for its medical equipment and the <a href="https://www.businessinsider.in/business/news/indian-current-rupee-value-will-be-a-bonanza-for-indias-exporters/articleshow/93061118.cms">weakening of the Rupee</a> makes imports more expensive. “Their (consumers) fear seems to have basis as India continues to import a considerable amount of pharmaceutical products and medical devices despite having a thriving generic medicines industry and scaling up production of medical devices,” the report said. Exports surge, but so have imports While the Indian pharma industry’s exports <a href="https://www.ibef.org/blogs/indian-pharma-exports-making-a-global-mark">grew</a> 103% from $11.6 billion to $24.6 billion during 2014-22, it also imports a lot for its own medical needs. As per the commerce ministry <a href="https://www.livemint.com/news/india/import-of-medical-devices-rose-a-record-41-in-fy22-report-11658481569408.html">data</a> by the Association of Indian Medical Device Industry (AiMeD), imports of medical devices increased by a record 41% to ₹63,200 crore (approx. $8.1 billion) in 2021-22 from ₹44,708 crore (approx. $6 billion) in 2020-21. A majority of Active Pharmaceutical Ingredients (APIs), raw material and hospital equipment is also imported and paid for in dollars, said the LocalCircles report. <keyword id="471072" type="General" weightage="20" keywordseo="indian-consumers" source="Orion">Indian consumers</keyword>, therefore, feel healthcare will burn a deep hole in their pockets in the future. “Given an option, those who can afford the cost continue to buy imported devices for implants. Also, most of the medical equipment used in hospitals continues to be imported, which will necessarily get reflected in higher cost of treatment in private hospitals and laboratories,” said the report. In addition to the rupee value, earlier this year, the government allowed <a href="https://www.businessinsider.in/finance/news/snacks-health-bills-electricity-bills-and-more-will-add-to-your-chunkier-home-loan-emis/articleshow/91429752.cms">pharma companies</a> to hike prices of domestic formulations by up to 10%. It has affected 800 formulations covering major medicine groups like painkillers, antibiotics, cardiac medicines and more, further adding to <a href="https://www.businessinsider.in/finance/news/snacks-health-bills-electricity-bills-and-more-will-add-to-your-chunkier-home-loan-emis/articleshow/91429752.cms">healthcare costs</a>. Rising input costs also a cause of concern for pharma There are other troubles on the horizon as well. Increased input cost and rising prices of APIs are already eating into the profitability of pharmaceutical companies. Some of this may be passed on to the customers. As per a <a href="https://theprint.in/economy/rising-input-costs-to-hurt-profitability-of-indian-pharma-sector-in-2022-23-report/1045170/">report</a> by rating agency CareEdge, the operating profitability of Indian pharmaceutical companies is expected to decline by 200-250 basis points (or 2.5% points) in the financial year 2022-23. “Due to supply chain disruptions and prevailing lockdown in China, the prices of some APIs have increased between 25-120% while prices of excipients have risen between 15-200% during the last 12-18 months,” said the report. On top of that, the Indian government recently introduced a 5% GST on all non-ICU hospital rooms that cost more than ₹5,000, which would further make healthcare pricier.

After food, healthcare expenses are becoming a bitter pill to swallow for Indian consumers

<ul><li>The listing of the most awaited issue was disappointing though widely expected. Its stock fell over 8% today.</li><li>However, analysts believe investors need not feel dejected and end up selling in losses as the long term view for life insurance products remains strong.</li><li>India’s highly underpenetrated life insurance space is still at a nascent stage and LIC is attractively positioned to capture the huge growth opportunity, say analysts.</li></ul>Almost one in every two retail investors who applied for the initial public offering of Life Insurance Corporation of India (LIC) has been allotted the shares. This is because 13.77 crore retail investors bid for 6.91 crore shares reserved for this category of investors. However, the listing of the most awaited issue was disappointing though widely expected. Its stock fell over 8% today on listing to ₹867.20 while the price band was fixed at ₹902 - ₹949 per share. Hold LIC for the long term, recommend analysts But there is no case to feel dejected and go on a selling spree, believe analysts. They recommend them to hold them for the long term as demand for life insurance products remains strong. A report by CareEdge expects the life insurance industry to grow at around 12-14% for the next three to five years. “Insurance demand is positively correlated with economic growth and grows at a multiple to the GDP. FY23 has started on a strong note, and LIC’s growth momentum over the past few months comes ahead of its initial public offering…Overall, the outlook is expected to be positive in the medium term,” said the report. Moreover, stock analysts also believe at the current market prices, LIC’s share price is significantly cheaper compared to listed players. This is despite the fact that LIC is a dominant player with 60% market share in premiums. “At current price, LIC is trading at a price-to-earnings P/EV (embedded value) of close to 1.08 times, which is at a significant discount to other listed private life insurance companies like HDFC Life, ICICI Pru Life, and SBI Life,” said Yash Gupta, equity research analyst at Angel One. “As expected given the adverse market conditions listing has been muted for LIC. However, cheap valuations as compared to other listed players offer comfort, and investors with a longer time horizon can hold on to their positions while retail traders with a short-term view can exit their positions in case there is any upside movement over the next few days,” he added. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Life insurers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LIC India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹901 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5.68 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹547 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.15 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,053 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.05 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹496 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹71,241 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="460075275"> $LIC.P plunged early in its debut after a record initial pubic offering that priced at the top of the range and was oversubscribed nearly 3 times. Stock is hovering at Rs 904 amid 2.5cr shares traded on NSE. $LIC.P shares started trading at Rs 865 a piece, 8.65% over its issue price of Rs 949 on BSE. The share opened at Rs 872 on NSE, 8.8% discount over the premium. Reason? The sell off in the global and domestic market, the hike in interest rates by the central banks and the accelerating inflating statistics, and an ongoing gobal war have dampened the euphoria around the listing of mega IPO. $LIC.P IPO comes amid intense competition in the industry an has a market share of more than 66 %. LIC IPO valuation is attractive considering its strong market presence, improvement in profitability due to changes in surplus distribution norms and strong sector growth outlook. So, LIC can perform well provided we have bounce in the market. &mdash; (@DhwaniTA) <a href="https://stocktwits.com/DhwaniTA/message/460075275"> May 17, 2022</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> Listing gains of IPO stocks maybe a thing of the past LIC is not the only company with a bad listing to its name. LIC is not the only company with a bad listing to its name. On the top of this list is PayTm which lost 60% of its value since it listed in November 2021. “As observed, the majority of big IPOs have not given strong listing debut gains. Considering previous trends, LIC has continued to take the same path. We believe that personal savings and awareness regarding insurance will increase enabling the sector to outperform in the long run and will indirectly benefit LIC as it is the market leader in this sector. We feel long term investors should continue to hold the scrip while short-term investors can wait to enter at a lower price,” said Mohit Nigam, Head - PMS, Hem Securities. Analysts believe India’s highly underpenetrated life insurance space is still at a nascent stage and LIC is attractively positioned to capture the huge growth opportunity. LIC’s brand value, large scale of operations and a wide distribution network will drive its stock performance. “The company’s issue was priced at a price to embedded value of 1.1 times, providing a valuation comfort, so we suggest investors to stay with the company for the long term despite the negative listing,” said Parth Nyati, Founder, Tradingo. <div type="image" title="LIC market share" height="900" width="1200" msid="91615323" hostid="261"></div>Some analysts even hope that the life insurance giant may give dividends to disappointed investors. “LIC didn’t pay any dividends in the last financial year, so there are high chances that the company might declare a good dividend this year, thus making it a good dividend play,” said Santosh Meena, Head of Research at Swastika Investmart. <div type="image" title="LIC profit" height="900" width="1200" msid="91615343" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/lic-stock-falls-8-on-listing-day-but-still-beats-hul-and-icici-to-become-indias-fifth-most-valued-company/articleshow/91609556.cms">LIC stock falls 8% on listing day, but still beats HUL and ICICI to become India’s fifth most valued company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/elon-musk-says-twitter-deal-cannot-move-forward-until-parag-agrawal-proves-less-than-5-spam-account-claim/articleshow/91615141.cms">Elon Musk says Twitter deal cannot move forward until Parag Agrawal proves less than 5% spam account claim</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/four-in-ten-american-users-thought-that-facebook-should-have-blocked-trump-sooner-reveal-leaked-internal-documents/articleshow/91610652.cms">Four in ten American users thought that Facebook should have blocked Trump sooner, reveal leaked internal documents</a>

You Searched For "CareEdge" and got 8 results

India's services sector growth climbs to near 13-year high in April: PMI

PTI

Wholesale inflation turns negative in April, after retail inflation eases to 18-month low

Katya Naidu

Inflation is making Indian companies borrow more – that's bad news when interest rates are high

Rounak Jain

Best and worst performing sectoral stock market indices in 2022

Rounak Jain

RBI’s lower rate hike as expected, but Das’ commentary still hawkish, say analysts

Rounak Jain

Domestic travel, fuelled by revenge tourism, aids growth in hospitality sector

Kritti Bhalla

After food, healthcare expenses are becoming a bitter pill to swallow for Indian consumers

Karuna Sharma

There is a strong case to go long on LIC say analysts and macroeconomic indicators

Bhakti Makwana