Inflation news live: India's inflation dips to five month low of 4.31% in January

• December IIP At 3.2% Vs 5.2% (MoM)
• December IIP @3.2%
• Mining Growth At 2.6% Vs 1.9% (MoM)
• Manufacturing Growth At 3% Vs 5.5% (MoM)
• Electricity Growth At 6.2% Vs 4.4% (MoM)
• Primary Goods Growth At 3.8% Vs 2.7% (MoM)
• Capital Goods Growth At 10.3% Vs 8.8% (MoM)
• Infra Goods Growth At 6.3% Vs 8.1% (MoM)
• Cons Durables Growth At 8.3% Vs 14.1% (MoM)
• Cons Non-Durables At -7.6% Vs 0.4% (MoM)

In January, India's inflation fell to 4.31 percent, its lowest in five months, compared to 5.22 percent in December, according to government data released on February 12. This drop comes shortly after the Reserve Bank of India's Monetary Policy Committee implemented its first rate cut in five years. Consequently, the policy rate has been lowered from 6.5 percent to 6.25 percent. (Read More)

• India's inflation dips to five month low of 4.31% in January
• Food and beverage inflation eases to 5.7% in January vs 7.7% in December.

Rupee At Close | Rupee Ends At 86.89/$ Against Tuesday’s Close Of 86.83/$

• Qualified Institutional Buyers (QIBs) -- 0.00 times
• Non Institutional Investors (NIIS) -- 0.01 times
• Retail Individual Investors (RIIs) -- 0.03 times
• Employee Reserved -- 0.10 times
• Total -- 0.02 times

• The commerce ministry investigation arm DGTR has terminated an anti-dumping investigation into the import of Chinese fasteners, used in multiple sectors, including construction and auto, according to a notification.
• Fasteners include screws, bolts, nuts, concrete nails, industrial staple pins, steel strapping seals, plastic strip nails, and cable clip nails.
• In its final findings, the Directorate General of Trade Remedies (DGTR) said there is no sufficient evidence of dumping and injury to justify the continuation of the investigation. (PTI)

Ajax Engineering IPO sailed through on the final day of subscription on strong bidding from Qualified Institutional Buyers (QIBs) and Non Institutional Investors (NIIs). The Rs 1,269-crore initial public offering (IPO) of concrete equipment manufacturer Ajax Engineering Ltd got subscribed 1.12 times on the third day of bidding on Wednesday till around 1 PM. The initial share sale received bids for 1.58 crore shares against 1.41 crore shares on offer. (Read More)

• Net Equity Inflow At Rs 39,669.6 Cr Vs Rs 41,136 Cr Inflow (MoM)
• Large Cap Fund Inflow At Rs 3,063.3 Cr Vs Rs 2,011 Cr Inflow (MoM)
• Small Cap Fund Inflow At Rs 5,721 Cr Vs Rs 4,668 Cr Inflow (MoM)
• Midcap Fund Inflow At Rs 5,148 Cr Vs Rs 5,093 Cr Inflow (MoM)
• Hybrid Fund Inflow At Rs 8,767.5 Cr Vs Rs 4,370 Cr Inflow (MoM)
• Liquid Fund Inflow At Rs 91,593 Cr Vs Rs 66,532 Cr Outflow (MoM)
• ETF Outflow At Rs 1,172 Cr Vs Rs 4,558.3 Cr Outflow (MoM)
• Credit Risk Fund Outflow At Rs 294 Cr Vs Rs 356 Cr Outflow (MoM)
• ELSS Fund Inflow At Rs 797 Cr Vs Rs 188 Cr Inflow (MoM)
• Total AUM At Rs 67.25 Lk Cr Vs Rs 66.93 Lk Cr (MoM)
• Corp Bond Fund Outflow At Rs 217.4 Cr Vs Rs 820 Cr Outflow (MoM)
• Dividend Fund Inflow At Rs 215 Cr Vs Rs 277.2  Cr Inflow (MoM)
• New Fund Offer Inflow At Rs 4,544 Cr Vs Rs 13,852 Cr Inflow (MoM)
• Sectoral/Thematic Funds Inflow At Rs 9,016.6 Cr Vs Rs 15,331.5 Inflow (MoM)

• Rupee Depreciation Works Out To Be Good For Hexaware
• Have Seen Recovery In Financial Services In The US
• 40 bps Is Improvement In Margin Due To Every 1% Rupee Deprecation
• Aspiration To Grow ‘Materially Higher” Than The Industry

Hexaware Technologies IPO Live: Hexaware, a prominent mid-tier technology firm, is no stranger to Indian stock exchanges. After being delisted in November 2020, the company transitioned from Baring Private Equity Asia to Carlyle in 2021. Now, it is set to re-list through an offer-for-sale by its promoter. (Read More)

• Qualified Institutional Buyers (QIBs) -- 0.00 times
• Non Institutional Investors(NIIS) -- 0.00 times
• Retail Individual Investors (RIIs) -- 0.01 times
• Employee Reserved -- 0.03 times
• Total -- 0.01 times

Hexaware Technologies IPO Live: The share allocation is most likely to take place on February 15, 2025 (Saturday). However, if there is any delay in finalising the allotment, the process is expected to be completed by February 17, 2025.

Hexaware Technologies IPO Live: Marwadi Shares and Finance, along with SBI Capital Securities, have also recommended subscribing to the book-build issue.

• Hexaware Technologies IPO Live: Anand Rathi has assigned a 'buy' rating to the public issue, stating, "Over the past decade, Hexaware Technologies has expanded its business with a broader range of offerings, a more diversified customer base, an extensive global delivery network, and a stronger focus on innovation and technology. Its expertise is further enhanced by strategic, industry-focused partnerships, including ServiceNow, which provides AI-powered solutions across HR, IT, customer service, security, and finance, as well as Backbase, a Netherlands-based banking fintech firm.
• At the upper price band, the company is valued at a P/E ratio of 43.1x, with a post-issue market capitalization of ₹430,247 million and a return on net worth of 22.8%. From a valuation standpoint, the IPO is fairly priced. Therefore, we recommend a 'SUBSCRIBE' rating for this issue."

Hexaware Technologies IPO Live: Labeling the public issue with a ‘subscribe’ rating, Abhishek Pandya, Research Analyst at StoxBox, stated, “At the upper price band, the issue is valued at a price-to-earnings (P/E) ratio of 43.1x based on CY23 earnings, making it relatively more affordable than its peers. Given these strong factors, we recommend a 'SUBSCRIBE' rating for this issue.”

Hexaware Technologies IPO Live: Stock market observers report that Hexaware Technologies shares are trading at a Rs 2 premium in today’s grey market. The IPO lot size consists of 21 shares, requiring a minimum investment of Rs 14,868 (Rs 708 × 21) for retail investors.

Hexaware Technologies IPO Live: Hexaware Technologies has set its IPO price band between Rs 674 and Rs 708 per equity share, with the book-build issue raising Rs 2,598 crore from anchor investors. The public issue is slated for listing on both the BSE and NSE. The company aims to raise Rs 8,750 crore through the initial offer, which is entirely an offer for sale (OFS). Meanwhile, Hexaware Technologies' shares are already trading in the grey market ahead of the IPO subscription opening.

Hexaware Technologies IPO Live: Hexaware Technologies' initial public offering (IPO) is set to open for public subscription in the primary market this week. The IPO is being managed by book-running lead managers, including Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd, and IIFL Securities Ltd.

The Indian rupee outperformed its Asian counterparts on February 11, buoyed by a likely intervention from the Reserve Bank of India (RBI) in the forex market.

According to Bloomberg data, the rupee appreciated by 0.75 percent against the US dollar, making it the top performer among Asian currencies for the day.

The Taiwanese dollar also saw a marginal gain of 0.01 percent against the greenback.

The rupee strengthened nearly 1 percent, closing at 86.83 per US dollar, compared to its previous session's close of 87.48. Currency experts attributed the surge to increased RBI intervention in the market. Learn more.

Good morning and welcome to our live  coverage of latest business news from India and around the globe. First up, here's fresh update on the upcoming Income Tax Bill. As per the latest reports, a new Income Tax bill—promised by the Union Finance Minister in last year’s budget—is scheduled to be tabled in Parliament on Thursday. The bill seeks to simplify tax law language and will later be reviewed by Parliament’s Standing Committee on Finance. However, it will not impact existing tax slabs or revise current tax rebates.