Moneycontrol Selects: Top stories this afternoon

MC Selects

Here are our top stories this afternoon:

CPI inflation faces lactose issues as milk inflation hits 8-year high

Data released on April 12 showed inflation for the 'milk and products' a sub-group of the Consumer Price Index (CPI), was 9.31 percent in March. In the first quarter of 2023, 'milk and products' inflation averaged 9.25 percent — the highest it has been since October-December 2014. And at the heart of the rising milk inflation is a mix of rising input costs and falling domestic supply. Read more to find out here

Tata Motors to raise prices of passenger vehicles from May 1

Auto major Tata Motors is raising the prices of its passenger vehicles (PVs) from May 1. The marginal price hike will be the weighted average of around 0.6 percent, depending on the variant and model, the company told the exchanges. This comes as the company said it is “compelled to pass on some proportion” of the increased costs through this hike. Read details

India, Japan can work together for greater synergy between G7 & G20: FM Nirmala Sitharaman

India and Japan can work together to achieve greater coordination and synergy between G7 and G20 member countries, Union Finance Minister Nirmala Sitharaman has said. India holds the annual revolving presidency of G20 countries and Japan is the current president of G7 countries. She said Japan has invited her to the meeting of G7 finance ministers and central bank governors in May and she is considering attending it. See full here

Bitcoin smashes $30,000 barrier, crypto titans predict big rally ahead

Bitcoin is nearing a crucial technical milestone about a year away, which may potentially spark a sustained uptick in the cryptocurrency's worth. As of Thursday morning, one Bitcoin was valued at roughly $30,200, according to data from CoinGecko. The world's leading cryptocurrency has seen a remarkable increase of over 80 percent since the start of the year. See more

NCLT grants 90 days extension to Future Retail for concluding insolvency

The NCLT has granted Future Retail Ltd (FRL) an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of the company. Allowing FRL's plea the Mumbai bench of the National Company Law Tribunal (NCLT) has extended the deadline to July 15, 2023, for concluding the CIRP of FRL. Check details