Volvo Auto India hikes prices across model range by up to Rs 2.5 Lakh

"All the models would undergo an upward revision in the Ex-showroom prices by up to 2.5%. The increase is due to rise in input costs which affect all models sold in India. Volvo Cars focus has always been to provide the best-in-class products to our customers at a competitive price with class-leading safety and intuitive features offered as standard across models." the company said in a statement.

Avenue Supermarts m-cap surges past Rs 50,000 cr mark

The scrip of newly-listed firm gained 3.33 percent to end at Rs 775.50 on BSE. During the day, it soared 7.5 percent to Rs 806.80./fmcg_consumerdurables_720-770x433.jpg" title="Avenue Supermarts m-cap surges past Rs50,000 cr mark", the operator of retail chain D-Mart, rose by 7.5 percent in intra-day trade today, helping its market valuation surge past Rs 50,000 crore mark.The scrip of newly-listed firm gained 3.33 percent to end at Rs 775.50 on BSE. During the day, it soared 7.5 percent to Rs 806.80.At intra-day high level, the company's market valuation rose to Rs 50,351 crore but later pared some of the gains and its m-cap stood at Rs 48,397.75 crore at close.On NSE, shares of the company jumped 3 percent to settle at Rs 774.10.In terms of volume, 26 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

March CPI inflation makes August rate cut case stronger: BofAML
 
According to the global financial services major, inflation risks are overdone and noted that food inflation is coming off while El Nino is a swing factor and commodity prices are likely to stabilise in 2017, reducing the pressure on imported inflation.CPI inflation is well within the RBI's 2-6 per cent mandate and the March number makes the case for a 25 bps rate cut in August even stronger, says a Bank of America Merrill Lynch (BofAML) report."We continue to expect the RBI MPC to cut policy rates 25 bps on August 3 after CPI inflation came in at a weak 3.8 per cent for March and industrial production contracted by 1.2 per cent for February," BofAML said in a research note.According to the global financial services major, inflation risks are overdone and noted that food inflation is coming off while El Nino is a swing factor and commodity prices are likely to stabilise in 2017, reducing the pressure on imported inflation.

Portfolio managers' assets up 18% to Rs 12.30 lakh cr in FY17

This also marks the sixth consecutive yearly rise in assets base of portfolio managers. Data prior to this period are not available with the Securities and Exchange Board of India (Sebi).

The assets handled by portfolio managers have surged by a staggering Rs 1.85 lakh crore to Rs 12.30 lakh crore at the end of the past fiscal, mainly on the back of increase in number of clients.This also marks the sixth consecutive yearly rise in assets base of portfolio managers. Data prior to this period are not available with the Securities and Exchange Board of India (Sebi).A portfolio manager is a body corporate who advises or directs or undertakes on behalf of the client, the management of a portfolio of securities or the funds of the client.

Tightening H1B visa norms a blessing in disguise for IT firms: Mohandas Pai

The present business model of Indian IT companies -- offshore-onsite work ratio of 70:30 would now go up to 90:10, the former Chief Financial Officer of Infosys said.The tightening of H1-B work visa rules in the US would be advantageous to Indian IT firms as they would shift more work offshore and also be in a position to improve their billing rate, says industry veteran T V Mohandas Pai.The present business model of Indian IT companies offshore-onsite work ratio of 70:30 would now go up to 90:10, the former Chief Financial Office."So, what will happen is they (Indian IT firms) will offshore more work and increase their competitiveness. They will do only ten percent work onsite, and 90 percent offshore," Pai told PTI."It can be done very easily for 70-80 percent of the business. It will improve their competitiveness and make them better," he said."The new H1-B regulations are very good for Indian IT, and bad for companies which try to use it for cheap labour. First of all, Indian IT is not cheap because what they bill to clients is USD 125,000 to USD 150,000 per year (for an onsite employee)," he said."The average pay is around USD 80,000-85,000 per year. They are unnecessarily getting a bad name, because some fly-by-night operators are trying to do body-shopping and spoil the name of the entire (Indian IT) industry," he said.The new regulations would play to the strength Indian IT companies because they have been reducing the number of H1-B visas they collected since 2014,