Top News This Week: From Retail Inflation To Goods Exports Dip And More

(MENAFN- Live Mint) "This week saw retail infaltion of India increased to 7.44% due to surge in vegetable and food prices. Besides, on the stock market front, Concord Biotech made a stellar debut on the stock exchanges The shares of Concord Biotech were listed with a premium of 21.46% at ₹900.05 apiece. In another news, Jio financial Services is being removed from several FTSE indices for failing to commence trading. Pen maker Cello World Ltd has filed its draft red herring prospectus (DRHP) this week. Further, US mortgage rates jumped to the highest level in more than 20 years.Here are some of the biggest news stories this week.Retail inflation roars to 7.44% as food costs biteConsumer Price Index (CPI)-based inflation shot past estimates to hit a 15-month high of 7.44% in July as food and vegetable prices surged, breaching the Reserve Bank of India's (RBI) inflation target range for the first time since February. Read moreConcord Biotech shares make stellar debut; list with 21% premium at ₹900 apiece on BSEConcord Biotech made a stellar debut on the stock exchanges Friday. The shares of Concord Biotech were listed with a premium of 21.46% at ₹900.05 apiece on the BSE, as compared to the issue price of ₹741 per share. Read moreGoods exports dip to lowest in 9 mths as demand slumpsIndian goods exports remained under pressure in July as demand from key markets such as the US, Europe and China remained subdued amid high inflation driven by persistent geopolitical tensions. Read moreGoldman Sachs buys Adani Power shares worth ₹2,876 crore. Stock jumpsGoldman Sachs GQG Partners International Opportunities Fund has bought fresh stake in Adani Power Ltd. As per the information available on Indian stock market exchanges, the US-based investor bought 10,30,30,127 Adani Power shares paying ₹279.15 apiece. This means, Goldman Sachs fund has invested ₹28,76,08,59,952.05 or ₹2,876 crore in Adani Power. Read moreJio Financial to be removed from FTSE IndicesJio Financial Services is being removed from several FTSE Indices for failing to commence trading after 20 business days. A notice shared by FTSE Russell said that the company had also not announced a firm trading date since its inclusion on July 20. The omission will come into effect from August 22. Read moreModi seeks to free up $12 billion to quell inflation before voteIndian officials are considering a plan to reallocate as much as 1 trillion rupees ($12 billion) from the budgets of various ministries to contain a surge in food and fuel costs without imperiling the federal deficit target. Read moreAdani promoters raised ₹39.4K cr amid scrutinyPromoters of the Adani group have generated ₹39,400 crore through stake dilutions in group companies since a damning report by US short-seller Hindenburg Research in January drove flagship Adani Enterprises Ltd to withdraw its ₹20,000 crore follow-on public offering. The group has denied the allegations. Read moreCello World files DRHP for ₹1,750 crore IPOPen maker Cello World Ltd has filed its draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (Sebi) to raise funds through its initial public offering (IPO), according to a regulatory filing. The IPO with a face value of ₹5 is a complete offer for sale (OFS) of up to ₹1,750 crore. Read moreHimachal Pradesh rains: Govt declares whole state as 'natural calamity affected area'Amid wide scale of destruction due to rains which has killed more than 75 people in the last four days, the Himachal Pradesh government has decided to declare the whole state as 'natural calamity affected area.' Read moreCBI challenges Lalu Prasad Yadav's bail in Supreme Court in fodder scam caseRashtriya Janata Dal (RJD) leader and former chief minister of Bihar, Lalu Prasad Yadav who is out on bail in alleged fodder scam case had landed in trouble as Central Bureau of Investigation has challenged the bail order in Supreme Court. Read moreElon Musk endorses Vivek Ramaswamy for US 2024 Presidential pollTesla CEO Elon Musk on Thursday called entrepreneur Vivek Ramaswamy a 'promising candidate' for the 2024 US presidential election. He responded to a clip of Ramaswamy, shared on X (formerly Twitter), on Tucker Carlson's online show. Read moreUS mortgage rates jump to 7.09%, highest since 2002US mortgage rates jumped to the highest level in more than 20 years. The average for a 30-year, fixed loan was 7.09%, up from 6.96% last week and the highest since April 2002, Freddie Mac said in a statement Thursday. Read moreVenezuela's oil leaks, gas flaring continues to devastate environment, despite pledges of remedy: ReportVenezuela's state oil company PDVSA has failed to control oil spill or gas flaring, as per reports by Reuters. The report, citing company internal documents and employees familiar with the matter, said that despite promises from the President Nicolas Maduro government, the environmental damages continues to ravage the country. Read morePresident Murmu launches INS 'Vindhyagiri' in Kolkata, 6th ship under 'Project 17 Alpha' of Indian NavyPresident Droupadi Murmu on Thursday reached Kolkata, West Bengal, and launched 'Vindhyagiri', at Garden Reach Shipbuilders and Engineers Ltd's (GRSE) facility on the banks of Hooghly river. Vindhyagiri has been named after the mountain range in Karnataka. Read morePriyanka Chopra ends partnership with New York restaurant SonaActor Priyanka Chopra Jonas has reportedly decided to end her partnership with the restaurant Sona in New York City, which she co-founded and opened in 2021. The move marks a shift in her focus within the hospitality industry. Read moreUnacademy fires teacher who urged students to vote for 'educated candidates'Unacademy has terminated the services of a teacher named Karan Sangwan, who encouraged students to support educated candidates through their votes. Read more

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