Good morning!
Here are the top stories to start your day.
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⭐ Reliance Retail to partner with Gap
Reliance Retail, has tied up withGap Inc to bring the American fashion brand to India. Reliance Retail will introduce Gap’s fashion offerings to consumers through exclusive brand stores, multi-brand store expressions and digital commerce platforms.
⭐ Inflation dampens demand for Dabur products 😞
FMCG major Dabur said demand for its products remained under pressure in Q1 of FY23, due to unprecedented inflation. This was witnessed across urban and rural markets. Despite this, the company is expected to report a high single-digit revenue growth in the quarter. Volumes are expected to grow in the mid-single digits.
⭐ Edible oil prices to be cut soon? 🍳
Amid a fall in global prices, the government has directed edible oil manufacturers to further cut prices of imported cooking oils by up to ₹10 per litre within a week. The government has also asked them to maintain a uniform MRP for the same brand across the country. Edible oil makers had cut prices by ₹10-15 per litre in June. India imports more than 60% of its edible oil requirement.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.78% |
| Nikkei 225 (Japan) | ▲ 0.73% |
| Hang Seng (Hong Kong) | ▼ 0.89% |
| SSE Composite (China) | ▲ 0.04% |
| Dow Jones (US) (July 06) | ▲ 0.23% |
| NYSE (US) (July 06) | ▲ 0.06% |
| Nasdaq (US) (July 06) | ▲ 0.35% |
| S&P 500 (US) (July 06) | ▲ 0.36% |
Fact of the day
India will produce mobile phones worth ₹4-4.5 trillion between FY22-FY24, led by the production linked incentive (PLI).
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.