Business News Update; share market, gold silver rate, petrol diesel price today, cpi inflation data | Retail inflation increased to 6.21% in October: BCCI wants to withdraw the bankruptcy case against Byju’s, no change in the prices of petrol and diesel.

Yesterday’s big news was related to retail inflation. Due to costlier food items, retail inflation has increased to 6.21% in October. This is the highest level of inflation in 14 months. At the same time, BCCI has filed a petition in NCLT Bengaluru to withdraw the bankruptcy case against Byju’s and has also demanded an immediate hearing on it.

Before tomorrow’s big news, today’s major events to keep an eye on…

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1. Retail inflation increased to 6.21% in October: highest in 14 months; Prices of vegetables, fruits and meat increased

Due to costlier food items, retail inflation has increased to 6.21% in October. This is the highest level of inflation in 14 months. The inflation rate in August 2023 was 6.83%. Whereas in September, a month before October, this rate had reached 5.49% due to the cost of vegetables.

Food items contribute about 50% to the inflation basket. Its inflation has increased from 9.24% to 10.87% on month-on-month basis. Whereas rural inflation has increased from 5.87% to 6.68% and urban inflation has increased from 5.05% to 5.62%.

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2. BCCI wants to withdraw the bankruptcy case against Byju’s: petitioned in NCLT, the settlement of ₹ 158 crore was overturned by the Supreme Court.

The Board of Control for Cricket in India (BCCI) has filed a petition in the National Company Law Tribunal (NCLT) Bengaluru to withdraw the bankruptcy case against edtech firm Byju’s and has also sought an urgent hearing on the matter.

In October, the Supreme Court had overturned the decision of the National Company Law Appellate Tribunal (NCLAT) which had approved a Rs 158 crore agreement between ed-tech firm Byju’s and the Board of Control for Cricket in India (BCCI).

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3. Starlink’s entry in India is almost certain: Scindia said – If data security rules are followed then license will be given, company has already agreed on the rules.

Elon Musk’s satellite broadband company Starlink may soon start providing internet service in India. Union Communications Minister Jyotiraditya Scindia said on Tuesday that we are ready to give license to any company.

Scindia said, ‘Be it Starlink or any other company, everyone will have to be ready to follow our security and other rules. Licensing is a specific process, you have to check all the boxes. When you check all the boxes, you get the license.’

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4. Hyundai India’s Q2 profit down 16%: Rs 1,375 crore, revenue down 7.39% to Rs 17,260 crore

Automobile company Hyundai Motor India Limited has made a consolidated net profit of Rs 1,375 crore in the second quarter of the financial year 2024-25. It has decreased by 16.5% on annual basis.

The company had made a profit of Rs 1,628 crore in the same quarter a year ago. Hyundai India has released quarterly results for the first time after listing on BSE-NSE.

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5. Shares of Sagility India listed at ₹ 31.06, up 3.53%: The issue price of IPO was ₹ 30, the company provides healthcare focused solutions and services.

Shares of Segility India Ltd were listed at ₹31.06, 3.53% above the issue price, on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on November 12. The issue price of this initial public offering was ₹₹30.

This IPO was open for bidding from November 5 to November 7. The IPO was subscribed a total of 3.20 times in three trading days. It was subscribed 4.16 times in the retail category, 3.52 times in the Qualified Institutional Buyers (QIB) and 1.93 times in the Non-Institutional Investors (NII) category.

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6. Vivo Y300 smartphone to be launched soon: 6.7 inch AMOLED display, 50MP camera and 80W charging; Expected Price ₹20,000

Chinese tech company Vivo is going to launch a new smartphone ‘Vivo Y300’ in the budget segment in November. The company has given information about the launch on its social media platforms X and Instagram.

Apart from confirming the launch, the company has not shared any other information. But according to media reports, the smartphone is expected to have a 6.7-inch AMOLED display with 120Hz refresh rate, 50-megapixel main camera and 32-megapixel selfie camera.

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