As expected, an increase in food prices resulted in a sharp rise in the country's consumer price inflation (CPI) for month of July, with the headline number coming in at 6.07 percent year-on-year -- a 2-year high.
Speaking to CNBC-TV18, IMD Head-Long Range Forecasting DS Pai said around 80 percent of country has received normal or above-normal rainfall and Central India has had 18 percent above normal rain in July.
Honda Motorcycle & Scooter India (HMSI) today reported 22.52 per cent increase in total sales at 4,27,384 units in June.
No doubt the self-effacing Xiao, chairman of China Securities Regulatory Commission (CSRC), has done many other things right. Managing the stock market, though, might not be a high point of his career.
Coal production grew only 0.3 percent versus 6.3 percent M-o-M, crude oil production was down 0.4 percent versus 0.7 decline M-o-M percent, natural gas production was down 4.4 percent against decline of 5.9 percent M-O-M.
July retail inflation slumped to 3.78 percent, led by a major fall in food prices. June industrial output rose to a four-month high of 3.8 percent.
One of the key factors, which will impact the IIP data is the base impact. In June 2014, the IIP was at 3.9 percent, which is same month last year and that was revised from 3.4 percent.
While July has been a lean month for two-wheeler maker Bajaj Auto, S Ravikumar, president- business development, says the company's domestic market share has improved to 19 percent in the month.
The Nifty closed July series below the 8450 level. The 50-share index was at 8421.80, up 46.75 points or 0.6 percent. The Sensex gained 141.92 points or 0.5 percent at 27705.35.
It was a good end to the June series as the Nifty closed just shy of 8400. The Sensex gained more than 150 points as the Greek debt woes did not seem to much impact market on Thursday.
A CNBC-TV18 poll had estimated CPI to soften to 7.7 percent and IIP to fall to 1.7 percent.
The new RBI chief, in his first speech, had hinted inflation will form the basis for framing the next monetary policy. With inflation coming in at 6.1 percent, experts are concerned that growth will not be given due importance, this time too.
A lot of economists do not focus on IIP data any more. Consensus estimates show a decline of around 0.2 percent for the month of July, but this would be lesser than a decline seen in June, which was down by around 2.2 percent. Nonetheless it would still be in contraction mode.
Speaking to CNBC-TV18, Kathy Bostjancic, director â€“ Macroeconomic Analysis, The Conference Board says the sub-par job growth is responsible for this delay. The US added 169,000 jobs in August, lower than the estimated 177,000 expected by analysts.
The bigger worry or bigger number that the market will be looking at is the core inflation. In the last month itself it had fallen to 2 percent. One only hopes that it doesn‘t worsen further.
The surge in JLR sales, was particularly driven by Jaguar, which saw sales accelerate 65 percent last month. While Europe sales remain flat, JLR is seeing strong growth in Asia Pacific, China and North America.
The Naukri Job Speak Index -- which tracks monthly hiring activities online -- rose to 1,323 last month. This marks an increase of about eight per cent compared to the index reading of 1,230 in June.
The company sold 2.47 lakh motorcycles in July, down 20 percent year-on-year. Three-wheeler CV sales also slipped 2 percent to 34,499 units.
The bulls got some ammunition as July manufacturing report for the US came in stronger than expected, with strong showings for new orders, as well as employment.
M&M's announcement to observe no production days at its automotive plants comes on the back of sluggish demand for utility vehicles and pickup trucks.
While Yamaha sold 37,494 units in the domestic market, up 35 percent, exports more than doubled to 20,657 units.
The India's largest utility vehicle maker sold 15,530 passenger vehicles last month, down 29 percent year-on-year. Sales of its four-wheeler and three-wheeler commercial vehicles also fell 6 percent and 13 percent respectively.
The company, which makes the Phoenix motorcycle and the gearless Scooty, saw two-wheelers dip 7 percent to 1.47 lakh units, last month.
Maruti Suzuki sold 75,145 units in the domestic market last month, up 6 percent from a year ago. But exports were down 27 percent to 8,154 units.
The India's largest utility vehicle maker said that it will observe 'no production days' at its automotive plants for 1-8 days in July. Its subsidiary Mahindra Vehicle Manufacturers will also see no output for 8 days.