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<ul><li>Rainfall has been uneven and erratic geographically this season.</li><li>More rainfall is in the offing, but if geographic disparities persist, it could also have a detrimental impact on crop production, negatively impacting growth and inflation, says Nomura report.</li><li>This has led to changes in sowing patterns, and erratic rainfall also poses macro risks.</li><li>Acreage for rice is down by 17% y-o-y and sowing of tur, sugarcane and jute &amp; mesta are down from last year's levels, says the report.</li></ul>The monsoon is a key influencer in the agriculture industry, and so far, India’s rainfall is tracking above normal by 10%, says Nomura’s latest report. However, rainfall has been uneven and erratic geographically. On the one hand, Central and Southern states have received 30% above normal rainfall, and on the other, agriculture-dependent states such as Uttar Pradesh, Bihar, Jharkhand and West Bengal have seen a steep decline. As per the report, July has historically proven to be the most important month for food production, and excess rainfall, especially towards the end of the season in September, raises the risk of damaging crops, which was witnessed last year. All hopes are now pinned on August. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">Erratic monsoon affects sowing patterns</h2> It is before the beginning of the <a href="https://www.businessinsider.in/india/news/kharif-sowing-is-off-to-a-weak-start-with-extended-dry-spells-and-floods/articleshow/92435771.cms">monsoon season</a>, around May end to early June, that <a href="https://www.businessinsider.in/india/news/kharif-sowing-is-off-to-a-weak-start-with-extended-dry-spells-and-floods/articleshow/92435771.cms">Kharif crops </a>are sown. They are harvested after the monsoon ends in October. Rice, maize, and pulses such as urad, moong dal and millets are among the key <keyword id="50360" type="General" weightage="20" keywordseo="kharif-crops" source="Orion">Kharif crops</keyword>. However, India’s rice sowing pattern has seen a dip as one-third of the country’s rice production is concentrated in the Eastern states such as West Bengal, Bihar and Uttar Pradesh, where rainfall has been particularly deficient this season. According to Nomura’s report, acreage for rice is down by 17% yearly. Sowing of tur, sugarcane and jute &amp; mesta is also down from last year. On a brighter note, most of India’s coarse cereals, pulses, oilseeds and cotton have shown promising progress as they are grown in the regions where rainfall has been bountiful. Although Kharif food grain’s overall acreage is tracking at -4.6% y-o-y as of mid-July. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">Erratic monsoon poses a macroeconomic risk</h2> There’s still hope. Kharif sowing could pick up in August as La Niña effects suggest that more rainfall is in the offing. However, India’s overall agricultural output could be affected if heavy rainfall extends to September. “If monsoons last longer than usual or geographic disparities persist, it could also have a detrimental impact on crop production, especially rice, jute and sugarcane. A scenario in which foodgrain production, especially for rice, eventually falters is a downside risk to agriculture GVA growth, with potential second-round effects to the economy through lower rural demand,” says the Nomura report. This, in turn, could prove to be a 'downside risk’ for food inflation. <div type="Article" hostid="261" msid="92435771" title="Kharif sowing is off to a weak start with extended dry spells and floods" mstype="2" mssubtype="0"></div>

Uneven rains could have a detrimental impact on crop production and inflation: Nomura report

<keyword id="1404739" type="General" weightage="50" keywordseo="housing-development-finance-corp-ltd" source="Orion">Housing Development Finance Corp Ltd</keyword> hiked its benchmark lending rate by 25 basis points, with effect from August 1, the company said in an exchange filing. The hike in rate by the mortgage lender came before the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>'s (<keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>) monetary policy meeting, which is to be held between August 3 and August 5. "<keyword id="45123" type="General" weightage="80" keywordseo="hdfc" source="Orion">HDFC</keyword> increases its <keyword id="648146" type="General" weightage="50" keywordseo="retail-prime-lending-rate" source="Orion">Retail Prime Lending Rate</keyword> (<keyword id="413108" type="General" weightage="100" keywordseo="rplr" source="Orion">RPLR</keyword>) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 25 basis points, with effect from August 1, 2022," the exchange filing said. The revised rates for new borrowers will range between 7.80 per cent and 8.30 per cent, against the existing range of 7.55 per cent to 8.05 per cent. For existing customers, the rates will rise by 25 bps. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/uneven-rains-could-have-a-detrimental-impact-on-crop-production-and-inflation/articleshow/93228276.cms">Uneven rains could have a detrimental impact on crop production and inflation: Nomura report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/centuries-old-indian-stepwells-may-serve-as-a-solution-to-water-conservation-during-the-scorching-heat/articleshow/93212987.cms?utm_source=social_sticky_non_amp&amp;utm_medium=social_sharing&amp;utm_campaign=Click_through_social_share">Centuries-old Indian stepwells may serve as a solution to water conservation during the scorching heat</a>

HDFC hikes its benchmark lending rate by 25 basis points

<ul><li>FMCG companies are expected to register strong margins in Q1 as they will see the full effect of earlier-taken price hikes playing out. Cooling raw material prices will help. </li><li>Demand for staples have been stable, but the beauty and personal care category has not yet recovered fully. </li><li>The summer has seen a decline or low growth in ice creams and juices due to unseasonal rains. </li></ul>With cooling raw material costs, the FMCG sector is expected to kick in the first quarter of FY24 with ‘good quality’ profits, backed by improvement in margins. Input costs have been cooling over the last few quarters and have either remained stable or seen mild moderation, and companies have not been passing them off very generously in the form of price cuts. “We expect most of the companies to register stronger sequential gross profit margin (GPM) improvement in 1Q24F with input cost inflation cooling down further, high-priced inventory getting consumed and the full effect of earlier-taken price hikes playing out,” said a research report by Nomura. Certain categories such as hair oils, edible oils and soaps had witnessed price cuts in earlier quarters, which will flow through in the first quarter, as per BNP Paribas. Also, new price cuts and promotions were seen in laundry, edible oils and other home care categories during the quarter but no major price cuts were seen in biscuits and salts. Double digit revenue growth expected Price cuts and volume growth for the sector are directly proportional for the sector, and as of now most of growth seen in the sector was pricing-led. But that’s changing, analysts say. Demand from urban areas has been stable, with slight sequential improvement in rural demand as well. Also, the demand for staples have been stable, but the beauty and personal care category has not yet recovered though improving due to the price cuts. All in all, the sector should be able to present a good revenue growth for the quarter – notwithstanding the cooler summer this April-June with unseasonal rains that affected sales of juices and ice creams. “We estimate staples/discretionary (ex-ITC) pack to register 10.2%/8.8% revenue growth. We expect a good quarter from Nestle, Godrej Consumers and ITC and a weak print from Marico,” says a report by Kotak. Antique Stock Broking also expects the FMCG sector (not including ITC) to report early double digit revenue growth with moderation in pricing led growth. ITC is expected to see a fall in revenue as its agri business is expected to see a drop due to high-base effects. Nomura expects Nestle, Tata Consumers and Dabur to report the highest revenue growth YoY, and with ITC and Marico to post lower value growth. FMCG sector revenue growth projections YoY <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><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;">Company </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;">Nomura </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;">Kotak Institutional Equities </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;">Antique Stock Broking </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;">HUL </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;"> 9.1% </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;">9.1% </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;">9% </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;">ITC </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;">-6.1% </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;">4.6%* </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;">-6% </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;">Marico </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;">6.5% </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;">4.2% </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;">4% </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;">Dabur </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;">9.4% </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;">10% </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;">9% </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;">Godrej Consumer </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;">10.2% </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;">10% </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;">NA </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;">Tata Consumer Products </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;">11.3% </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;">12.5% </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;">NA </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;">Nestle 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;">15.7% </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;">16.6% </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;">16% </td></tr></tbody></table>Source: Research reports *Kotak has considered standalone results for ITC Price cuts &amp; rising competition The street will closely watch management commentary on pricing, as analysts believe that the sector is poised for a good show in the first half of FY24 with a raw material cost tailwind. “However, in the second half of FY24 we expect revenue growth to moderate as pricing benefits should fade and growth would have to be volume-led,” said a report by BNP Paribas. There has been no aggressive price war as of now in the sector as of now, but if price cuts are not taken by large players in the segment, it might lead to unorganized players gaining market share. In the last one year, many consumers have ‘downtraded’ to unbranded products or local brands during periods of high inflation. “Prices of most stock keeping units (SKUs) have increased sharply over the last two years. Soap and detergent prices have risen 40-50% over that period. So far the price cuts have been limited and largely confined to the value segment. We believe price cuts might be needed to drive volumes,” said BNP Paribas. Without pricing strategies laid out, most FMCG players might see revenue growth challenges re-emerge this year, especially in the second half. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/it-companies-like-tcs-infosys-wipro-hcl-tech-q1-2023-24-earnings-preview/articleshow/101482733.cms">IT sector Q1 earnings preview: All eyes on deal wins, revenue guidance cuts</a> <a href="https://www.businessinsider.in/thelife/news/want-your-veggies-to-taste-like-chocolate-a-vr-glass-may-help-trick-your-mind/articleshow/101487079.cms">Want your veggies to taste like chocolate? A VR glass may help trick your mind</a>

FMCG sector Q1 preview — Caught between price cuts and volume growth

<ul><li>Indian markets opened higher as even <keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of the market signaled positive cues.</li><li>This week investors will watch out for monthly auto sales by companies, RBI policy meeting outcome, US employment data, corporate earnings and flows by FIIs.</li><li>ITC, UPL, Zomato among stocks to watch out for on August 1.</li></ul>Benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="66115" type="General" weightage="20" keywordseo="nifty-50" source="Orion">Nifty 50</keyword> opened higher even as investors await a decision by the RBI on interest rates after three days of monetary policy meeting. The bi-monthly meeting of policymakers is expected to conclude this week, with another rate hike. Apart from this, monthly auto sales is another event the market will closely watch to understand rural demand and inflation impact on the economy. Shares of automakers are the top performers today. Mahindra &amp; Mahindra surged 6%, Tata Motors spiked 3.66%, Maruti Suzuki and Hero MotoCorp were up 3% each. Sensex was up 0.48% or 275 points at 57,846 and Nifty 50 was up 0.55% or 94 points at 17,250. Rising prices of commodities like crude oil, gold are also keeping investor momentum high. Prices of crude oil declined as investors awaited this week's meeting of officials from OPEC and other top oil producers on supply adjustments. “The precious metal's prices resumed their upward trend after breaking the losing streak in the previous week and ended with gains of more than 2%. Following a week of pressure, gold is already showing signs of recovery. The US economy unexpectedly shrinking in the second quarter increased the risk of an economic slump, which increased gold's appeal as a safe haven and contributed to the increase,” Saish Sandeep Sawant Dessai, research associate, base metals at Angel One. Last week, benchmark indices Sensex and Nifty50 saw a good rally followed by inflows from FIIs and dovish monetary policy tightening by the US. Today, investors will watch out for the quarterly earnings of ITC and Zomato. UPL, Max Financial Services, Ramco Cements, Bajaj Consumer Care, Barbeque Nation Hospitality, Castrol India, Eveready Industries India, Punjab &amp; Sind Bank, Zomato are other companies that will report their quarterly results. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/uneven-rains-could-have-a-detrimental-impact-on-crop-production-and-inflation/articleshow/93228276.cms">Uneven rains could have a detrimental impact on crop production and inflation: Nomura report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/meet-divya-gokulnath-ruchi-kalra-and-neha-bansal-the-richest-women-startup-entrepreneurs-in-india/slidelist/93213069.cms">Meet Divya Gokulnath, Ruchi Kalra and Neha Bansal — the richest women startup entrepreneurs in India</a>

Sensex gains 275 points & Nifty up by 94 points as auto stocks surge

<ul><li>At 7:50 am the SGX Nifty was trading 1.04% lower pointing towards a red start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on a negative note amidst weak cues from Asain peers. At 7:50 am the SGX Nifty was trading 1.04% lower pointing towards a red start for Nifty50. The Hang Seng Index of the Hong Kong stock market was also trading 0.21% lower on September 7. Here’s a list of stocks to watch for in trade on September 7: Vodafone Idea Vodafone Idea is slated to make a strategic announcement through the virtual press conference at 11:45 am today. R<a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/vodafone-idea-may-relaunch-brand-identity-on-monday/articleshow/77965943.cms?from=mdr">eports </a>indicate that the company may announce a combined brand identity as presently; the organization has been advertising the two brands separately. The board of the cash-strapped telecom <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-will-raise-up-to-25000-crore-by-selling-shares-and-taking-loans/articleshow/77933604.cms?upcache=2" data-type="tilCustomLink">company also approved a fundraising plan</a> to raise ₹25,000 crore. The shares of Vodafone Idea ended 3% lower on Friday. Future Retail On Friday, post-market hours owner of Big Bazaar and fbb, Future Retail reported a consolidated net loss of ₹477.63 crore for the fourth quarter ended March 31. The company’s revenue from operations plummeted 17.75% to ₹4,492.36 crore during the quarter under review. The shares of Future Retail ended 5% lower on September 4. Allcargo Logistics The board of Allcargo Logistics has approved the delisting proposal of company shares. The company has set the delisting floor price at ₹92.58 per share. The shares of Allcargo Logistics ended 2% lower on September 4. CG Power The power generation giant CG Power has temporarily suspended operations at its Mandideep manufacturing unit. It cited reasons of torrential rain in the area on August 29 and 30. The company is also slated to report its first quarterly earnings today. The shares of CG Power ended 5% higher on Friday. Happiest Minds <a href="https://www.businessinsider.in/business/corporates/news/ashok-soota-backed-happiest-minds-techs-702-crore-ipo-what-works-for-it-and-what-doesnt/articleshow/.cms?upcache=2">Ashok Soota backed Happiest Minds Tech IPO</a> will be opening today. The company has fixed the issue price band at ₹165-166 per equity share. The company has already raised ₹316 crore from anchor investors like the Government of Singapore, Nomura Funds and Aditya Birla Sun Life Mutual Fund. IndiGo and SpiceJet The India civil aviation regulator DGCA in response to the Supreme Court proposed that the airlines should provide a full refund immediately for the tickets booked during the COVID-19 lockdown. The shares of IndiGo ended 2% lower on September 4. Whereas SpiceJet was up 3%. RIL Mukesh Ambani owned Reliance Industries has released <a href="https://energy.economictimes.indiatimes.com/news/oil-and-gas/reliance-industries-gives-detailed-plan-to-carve-out-o2c-assets/77969638">information related to hiving off its oil-to-chemicals business </a>into a separate entity. This came six months after the company first announced this proposal as a precursor to a stake sale. The company said that the segment’s assets and liabilities would be transferred to a new and separate unit of RIL. The shares of RIL ended 2% lower on September 4. Maruti Suzuki, Hero MotoCorp, TVS, Tata Motors, Bajaj Auto and other Auto stocks The road transport and highways minister Nitin Gadkari on Saturday said the much-awaited vehicle scrappage policy is in its final stages of approval and the policy will be rolled out by the end of this month. This news may move the auto stocks, which have been patiently waiting for the policy for years. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/a-timeline-of-unfulfilled-promises-trump-made-about-his-border-wall-a-cornerstone-of-his-2016-campaign-which-has-faded-from-view-in-2020/articleshow/77961965.cms" data-type="tilCustomLink">A timeline of unfulfilled promises Trump made about his border wall, a cornerstone of his 2016 campaign which has faded from view in 2020</a> <a href="https://www.businessinsider.in/business/corporates/news/checkout-share-price-of-adani-enterprises-green-gas-ports-and-sez-power-adani-group-stocks-have-rallied-up-to-70-in-last-one-month/slidelist/77906293.cms" data-type="tilCustomLink">Adani Group stocks have rallied up to 70% in last one month — here’s what is driving each one of them</a>

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Uneven rains could have a detrimental impact on crop production and inflation: Nomura report

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HDFC hikes its benchmark lending rate by 25 basis points

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FMCG sector Q1 preview — Caught between price cuts and volume growth

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Sensex gains 275 points & Nifty up by 94 points as auto stocks surge

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Top stocks to watch— Vodafone Idea, Future Retail, RIL, IndiGo, SpiceJet, Allcargo, Happiest Minds Tech, Tata Motors, Maruti Suzuki and more

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