PRICE HIKE
BJP Delhi Chief Virendraa Sachdeva detained over protest against Delhi government on power prices
Regarding the price hike, the BJP attacked the AAP government and claimed that it had conspired with the discoms for their benefit. Delhi's power minister and AAP leader Atishi countered that the opposition party has misled the public by circulating "rumours" that the PPAC is to blame for the rise in electricity costs.
PepsiCo quarterly revenue misses on slowing demand for snacks, sodas
PepsiCo's second-quarter revenue fell short of expectations due to pricing increases and competition, particularly in the U.S., where sales of snacks and soda were impacted. Despite raising product prices by 5%, organic volumes declined by 3%. Sales at Frito-Lay North America also dropped, contributing to the overall revenue increase of 0.8% to $22.50 billion. Adjusted earnings per share exceeded estimates at $2.28.
Delhi PUC certificate charges hiked after 13 years. Check latest prices
Transport Minister Kailash Gahlot in New Delhi announced the increase in PUC charges after 13 years: Rs 80 for two and three-wheelers (up from Rs 60), Rs 110 for four-wheelers, and Rs 140 for diesel vehicles. This is to ensure pollution compliance and air quality, with the changes communicated through a PTI-sourced statement.
Paint companies sparkle on price rise, but ‘gains could be short-lived’
Paint shares surged due to price hikes, led by Indigo Paints at 10.7%. Analysts foresee short-lived gains and pressure from Birla Opus. Nuvama views price hikes favorably. Despite underperformance in 2024, Q1 earnings may be muted, keeping stocks range-bound. Anand Rathi sees opportunities. Elara Capital cites margin pressure and muted FY25 earnings, advising strategic investment.
Delhi's electricity bills are on the rise: Here's why you might be paying more
Delhi Electricity Bill: Electricity bills in Delhi saw an increase due to a rise in the power purchase adjustment charge (PPAC) across various discoms, starting this February. This adjustment, effective from February, reflects higher power purchase costs influenced by rising coal and fuel prices. PPAC, a surcharge managed by the Delhi Electricity Regulatory Commission (DERC), aims to cover these fluctuating costs incurred by discoms.
Here's why Abneesh Roy is bullish on Asian Paints and Berger
Plus, the base margins for Asian Paints are very high and that is why they have taken around 3-4% price cut in the earlier quarters and now they have reversed this with around 0.7% to 1% kind of a hike in most parts of the portfolio
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Tesla hikes Model 3 prices in Europe due to tariffs on China-made EVs
Tesla has increased prices of its Model 3 cars in several European countries, including Germany, the Netherlands, and Spain, by approximately 1,500 euros ($1,622). This price hike comes in response to new tariffs imposed by the European Union on electric vehicles (EVs) manufactured in China, where Tesla produces its Model 3 vehicles.
Asian Paints and Berger Paints shares surge up to 4% on price hike
In Q4 FY24, Asian Paints reported a net profit of Rs 1,257 crore, up 2% year-on-year (YoY) from Rs 1,234 crore in the same quarter of the previous year. However, its revenue from operations slightly declined to Rs 8,731 crore compared to Rs 8,787 crore in the same quarter last year.
Don’t cry over onion prices: Here's how to mitigate seasonal price hikes
Dried onion is a win-win. It saves money, of course. It saves cooking time by at least 10%. No need to peel in sweltering heat. When cooked, dried onion is as good as fresh. Restaurants shift to dried onion when fresh onion prices increase. The economics of dried onion is so evident that restaurants can't ignore the savings.
Cement prices likely to remain muted during this quarter: Rakesh Arora
No, we are not expecting any cut on GST on cement. It is a very touchy topic, meaning obviously 28% is a very high GST number for a thing like cement which is an essential commodity. But I think government would be vary that if they cut GST, it will not be passed on, that is number one.
LIC raises stake in IDFC First Bank by 0.2% to 2.68% via private placement
IDFC First Bank has underperformed in the market over the past year, gaining only 3% and declining 8% year-to-date. The stock is currently trading 24% below its 52-week high of Rs 100.74.
Karnataka: Vijayendra, Ashoka arrested as BJP lays seige to CM's home over MUDA, Valmiki scam, price hikes
Protests in Karnataka escalate over alleged MUDA scam, demanding CBI inquiry. Demonstrators call for CM's resignation amid accusations of irregular site allocations and corruption. The controversy expands to Mysuru district, with protests planned inside the state legislature. Allegations of corruption involve the managing director of the Valmiki Scheduled Tribes Development Corporation.
Telcos' tariff hikes to push up core inflation by 0.2 pc in FY25: Report
The recent tariff hikes by the top three telcos in the country are expected to raise core inflation by 0.20 per cent in FY25, with analysts at Deutsche Bank revising their core inflation forecast to 3.8 per cent. The impact of the hikes is anticipated to be felt from July onwards, potentially pushing month-on-month core inflation by over 0.85 per cent. The Reserve Bank of India is closely monitoring the inflation trajectory, especially considering factors like below-trend monsoon rains and fluctuating food prices.
ATF price hiked 1.2% after a 6.5% cut seen in June
Jet fuel prices saw a 1.2% hike on Monday, with Aviation Turbine Fuel (ATF) rising to Rs 96,148.38 per kl in Delhi, following a previous 6.5% reduction on June 1. In Mumbai, ATF reached Rs 89,908.30 per kl. Meanwhile, commercial LPG prices for hotels and restaurants were cut by Rs 30 per 19-kg cylinder to Rs 1,646.
Jio, Airtel pricing strategy shows they still target Vi’s 2G users: Analysts
Analysts suggest that Vodafone Idea could encounter difficulties in retaining its 2G subscribers, as recent tariff increases indicate that competitors like Reliance Jio and Bharti Airtel remain focused on attracting Vi's low-end customers. Reliance Jio has maintained its rates for 4G feature phones, while Bharti Airtel has made minimal adjustments to its basic plans, highlighting their strategies to capture Vi's 2G user base.
Stars are aligning! Vodafone Idea share price targets increase after tariff hike
Vodafone Idea's target price sees a boost post-tariff hike, reflecting industry trends. Kotak Equities emphasizes low ARPU in India and the need for Jio to seize monetization opportunities.
Airtel, Jio announce mobile tariff hike: Here is the full list of new prepaid and postpaid plans and prices
Mobile Tariff Hike: Airtel and Jio and have announced significant tariff hikes, marking the first major rate increase by a telco since 2021. Jio’s new rates, effective July 3, increase by 12-25%, while Airtel’s hikes start immediately. These adjustments aim to boost average revenue per user (ARPU) due to substantial investments in 5G services.
Jio, Airtel Tariff Hikes: Users can still avoid increased prices. Here's how
Reliance Jio and Airtel will raise tariffs from July 3, 2024, to boost Average Revenue per User (ARPU), impacting millions of subscribers. Prepaid users can avoid hikes by recharging before July 3. Adjustments range from 12% to 25% for Jio and 11% to 21% for Airtel. Postpaid users will see immediate changes in their billing cycles.
Karnataka BJP demands Siddaramaiah’s resignation amidst Valmiki scam investigation and soaring prices
The Congress government in Karnataka has been accused of playing politics with the chief minister and deputy CM posts, leading to fuel and milk price hikes and scams in government departments. Opposition leader R Ashoka has called for the CM to resign, accusing him of "eating 80% of the funds." The scam broke out after a KMVSTDC officer committed suicide over alleged corruption.
Bharti Airtel, Jio target share price pricing in 15-20% tariff hike: Gaurav Malhotra
In terms of valuations, telecom stocks have moved up and are trading a little bit ahead of their long-term averages, says Gaurav Malhotra. He says the Street is quite positively viewing this whole tariff increase. Do note that the last major increase happened in 2021, so it has almost been three years since the last increase happened.
Milk prices not hiked as additional cost is for additional quantity of milk: Karnataka CM
Karnataka Chief Minister Siddaramaiah on Wednesday defended the Rs two hike in 'Nandini' milk prices, which now come with an additional 50 ml of milk in half-litre and one-litre packets. This adjustment has been made to support farmers in light of increased milk procurement. He emphasized that milk prices have not actually been raised.
Milk prices to go up in Karnataka from Wednesday, week after fuel price hike; liquor next in line
The prices of other KMF products such as curd and milk-related items will remain unchanged, said Federation chairman Bhima Naik. Chalking the hike up to the growing cost of milk storage, he said, “As it is the current harvest season, the storage of milk in all district milk unions is increasing every day and the current storage is close to one crore litres.” The price, he added, was still less, compared to the neighbouring states.
CNG prices hiked in Delhi-NCR, effective June 22
Compressed Natural Gas (CNG) prices in Delhi and the National Capital Region have increased by one rupee, with prices in Uttar Pradesh, Haryana, Rajasthan, and the national capital rising. New Delhi's CNG rate is Rs 75.09 per kg, while Noida, Greater Noida, and Ghaziabad rates are Rs 79.70 per kg.
Biggest reasons why petrol prices increase in India
Karnataka government on Saturday hiked sales tax on fuel which will make petrol and diesel costlier. Petrol will now go up by Rs 3 and diesel by Rs 3.5 per litre. Karnataka Chief Minister Siddaramaiah on Sunday defended the hike in petrol and diesel prices saying that it will ensure funding essential public services and development projects. The prices have been hiked to generate more revenue.
CM Siddaramaiah challenges BJP to stage demo against Centre over injustice to Karnataka
Karnataka Chief Minister Siddaramaiah challenged the BJP to protest against the Centre's treatment of the state, citing fuel price hikes and lack of central funds. He criticized the BJP for failing to address issues like rising petrol prices despite lower crude oil costs. Siddaramaiah highlighted discrepancies in fund allocation and accused the BJP of neglecting Karnataka's development needs.
Karnataka defends fuel price hike amidst growing outrage; BJP to protest statewide
While Industries minister MB Patil on Sunday defended the hike, saying the money was necessary for funding the state’s guarantee schemes, citizens took to social media to express their dissatisfaction, with the topic generating over 11,000 posts on X.
Karnataka hikes petrol, diesel prices by Rs 3 per litre
The Karnataka government has announced a sudden increase in petrol and diesel prices due to a revision in sales tax. Petrol price has risen by Rs 3 to Rs 102.84 per litre, while diesel price has increased by Rs 3.02 to Rs 88.95 per litre. The Petroleum Dealers Association attributes the hike to the state government's sales tax revision. The Finance Department of Karnataka aims to boost state revenue with this move.
Oil nudges higher after Saudi Arabia hikes prices
Oil prices rose slightly as Saudi Arabia increased its June crude prices for key regions and the possibility of a Gaza ceasefire diminished, raising concerns about the Israel-Hamas conflict impacting the oil-producing region. Brent crude futures rose to $83.24 a barrel, and U.S. West Texas Intermediate crude futures reached $78.40 a barrel. Saudi Arabia's move to raise prices suggests strong demand expectations for the summer. Despite easing geopolitical tensions, last week saw the largest weekly decline in oil prices in three months due to weak U.S. jobs data and Fed rate cut speculation.
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