A Quick Round-up Of the Major Business News During The Week in India

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If you have not had the time to stay in tune with major business developments in India, here is quick round-up.

A Quick Round-up Of the Major Business News During The Week in India

Land Acquisition Bill and GST Sent To Select Committee

There was major disappointment after two crucial bills, the Land Acquisition Bill and the GST Bill went to the select committees.

There were high hopes that at least the GST bill would be passed and implemented from April 1, 2016. Clearly, there was pressure from other political parties which has once again pushed these crucial bills.

April CPI Inflation At Lowest In 4 Months

April CPI inflation hit its lowest level in 4 months at 4.76 per cent led by lower food prices. This was way below consensus estimates of around 5.15 per cent.

The fall in interest rates has raised expectations that the Reserve Bank of India would cut interest rates going forward. Many analysts are suggesting that this could come even before the RBI's policy meet.

Rupee Closes The Week Strongly

The rupee closed the week strong at 63.46 to the dollar. This was after dipping to 64 levels. There were reports that the Reserve Bank of India may have intervened in the forex markets especially on Thursday and Friday.

Industrial Growth Slumps

Industrial Growth for the month of April fell sharply. The growth came in at just 2.1 per cent against almost 4.9 per cent in the previous month.

Analysts remain worried over industrial output as nothing seems to have improved on the ground.

Good Results From Bank of Baroda

Bank of Baroda surprised the markets with a much better set of results. Asset quality improved which sent the stock skyrocketing in the early part of the week.

Many brokerages upgraded the stock to a buy and increased their targets on the stock.

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