Ratan Tata, the scion of legendary Tata family, passes away at the age of 86. Tata was admitted to hospital and was undergoing medical investigations due to age and medical conditions. As per reports he also had blood pressure and his health conditions were deteriorating. Blood pressure issues, particularly hypertension, are common in old age due to factors like stiffening arteries, reduced kidney function, and lifestyle changes.Ratan N Tata was among India's most respected and loved industralists, who took Tata Group to new heights and touched the fabric of the nation through his contributions across different areas including philanthropy.
RBI on inflation: The Reserve Bank of India's (RBI's) caution on inflation, highlighted during the October monetary policy meeting, may put investors' faith in fast moving consumer goods (FMCG) stocks to test, analysts said.They, however, believe FMCG stocks may ride through this near-term investor anxiety as related companies are, typically, well-equipped to handle inflation due to their pricing power and steady demand for essential goods. They suggest investors use any near-term dips to accumulate quality stocks for the long-term.
On Wednesday, RBI Governor Shaktikanta Das pointed out that core inflation, which excludes food and fuel prices, was on an uptrend in July and August even as headline consumer price index (CPI) inflation decreased during this period.Consequently, the Nifty FMCG index fell 1.57 per cent on Wednesday and another 0.3 per cent intraday on Thursday. By comparison, the benchmark Nifty50 index was up 0.25 per cent intraday today.A Reuters poll of 48 economists, thus, forecasts retail inflation to jump to 5.04 per cent for the month, up from 3.65 per cent recorded in August and 3.54 per cent in July. The RBI, on its part, has trimmed Q2FY25 CPI estimate to 4.1 per cent from 4.4 per cent; raised Q3FY25 CPI estimate to 4.8 per cent from 4.7 per cent; and cut Q4FY25 inflation estimate to 4.2 per cent from 4.3 per cent. Overall, it has maintained the CPI projection of 4.5 per cent for the financial year 2024-25 (FY25).
