Market pulse at 10:30 AM today

Here is the stock market performance at 10:30 AM today.

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Emami subscribes 10 lakh CCPS of Brillare Science

The fully paid-up Compulsorily Convertible Preference Shares are having a face value of Rs10 each.

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Prakash Pipes stock touches a record high on bulk buying by Alpha Leon

The client company bought the company's stock on Thursday.

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Trump extends freeze on H-1B, other work visas

US President Donald Trump has extended the freeze on the most sought-after H-1B visas along with other types of foreign work visas by three months to protect American workers, saying while therapeutics and Covid-19 vaccines are recently available, their effect on the labour market and community health has not yet been fully realised.

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Markets begin 1st day of 2021 at historic highs; Nifty tops 14k, Sensex above 170 pts; Auto stocks in focus; M&M leads

Auto stocks will be in focus as automakers will announce their December 2020, sales data in the first week of this month starting today.

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NLC India issues commercial papers worth Rs500cr; stock trades higher

The company had allotted the same number of commercial papers on December 29, 2020, as well.

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Nagarjuna Fertilizers to off load investment in Jaiprakash Engineering; stock jumps 3%

The company board approved to dispose of the investment in the subsidiary company in a board meeting.

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GPT Infra stock zooms over 8% after Money Grow buys 4.5 lakh shares

According to data available on NSE, the company sold almost 4.5 lakh shares in a bulk deal.

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CRISIL assigns A1+ rating on Godrej Agrovets commercial paper programme of Rs600cr; stock gains 1.5%

The company said instruments with this rating are considered to have a very strong degree of safety regarding timely payment of financial obligations.

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Ford, Mahindra call off proposed auto joint venture

In a sudden and surprising move at the close of 2020, American auto maker Ford and homegrown Mahindra and Mahindra decided to call off their automotive joint venture, blaming the decision on “global economic and business conditions caused, in part, by the global pandemic”.

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Tax tribunal drops remark against Mistry in Tata order

Two days after passing critical remarks against Cyrus Mistry, the Income Tax Appellate Tribunal (ITAT) has issued a corrigendum, stating “some inadvertent errors” had crept into its order involving the Sir Dorabji Tata Trust and it has been “rectified”.

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Covid inflated salaries in sales, legal, tech

According to a study by Randstad India, a leading firm in the HR services industry, marketing has emerged as one of the top five highest-paying functions at the senior level where the average salary is about Rs 34 lakh.

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Only a dozen large cos seek Covid loan recast

The Future Group, Shapoorji Pallonji Group and SpiceJet are among those who will apply for loan restructuring. Besides these, there are a couple of thermal power generating companies, a couple of toll road projects, and companies in the textile sector.

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ETIG Analysis: Need of a stimulus package for NGOs

The year 2020 has been a difficult year for NGOs in India (not just because of the pandemic) and the next year also potentially appears to be a difficult one. "Most NGOs are heavily reliant on their funders and with institutional funding drying up this year, several NGOs, especially the smaller ones, have suffered a lot", said Priya Naik.

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Retail Inflation for industrial workers ease to 5.27% in Nov 2020; CPI-IW rises to 119.9 on higher food prices

On 1-month percentage change, CPI-IW increased by 0.33% between October and November 2020.

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India's Eight Core Industries contract for the ninth consecutive month to 2.6% in Nov 2020

Cumulatively between April - November 2020, the index has contracted to 11.4%.

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PNB extends promotional retail credit offer up to March 2021

The offer will be called PNB New Year Bonanza 2021.

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates muted opening for Indian markets

For today expect mid-caps to show colour as markets traded with a positive bias with large caps seeing consolidation.

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Top stocks in focus: UPL, CRISIL, IDBI Bank, IRCTC, Infibeam Avenues

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Commodity Mantra Morning Update: Gold and oil steady while base metals remain weak

Here is our technical view on Commodities.

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Core sector shrinks 2.6% in Nov, 9th month in a row

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'Market rally may become more broad-based'

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Amid differences between FinMin and Dipam over target, stage set for big bang divestment

Dipam, the government's disinvestment manager, believes that it was responsible only to achieve a target of Rs 1.2 lakh crore and blames Covid for the shortfall. This is not the first time that Dipam is accusing the finance ministry of using it to show higher receipts and consequently a lower fiscal deficit.

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Prime Minister's Office to monitor 50 key projects worth Rs 2 lakh crore

"There has been regular monitoring of the progress of these projects since these are mega projects. Some of these projects also came up in the past two Pragati meetings chaired by the Prime Minister. Many of these projects have been delayed due to various reasons including non-availability of land and green clearances," said a source who did not wish to be named.

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Move over Ambani, Asia has new a richest person

Zhong Shanshan is a private billionaire who’s rarely quoted in the press. Now, after an improbable career spanning journalism, mushroom farming and health care, he’s become Asia’s richest person, eclipsing India’s Mukesh Ambani and a group of Chinese tech titans including Jack Ma.

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Market pulse at 10:15 AM today

Here is the stock market performance at 10:15 AM today.

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Centre expands interest subvention scheme for enhancement of ethanol distillation capacity with an outlay of Rs8460cr

The Oil Minister said that the expanded interest subvention scheme will fuel investment of about Rs40,120cr in the ethanol value chain.

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Kirloskar promoters receive interim relief from SAT on Sebi penalty

SEBI had penalised Kirloskar Industries and individual promoters of Kirloskar companies in its order on October 20, 2020.

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Centre extends time limits for income tax returns for taxpayers

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government extended various time limits.

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Indian Bank raises Rs392cr through bonds; stock trades higher

The Bank further raised Tier 1 Capital Fund through Private Placement of Basel Ill compliant AT 1 Perpetual Bonds.

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V-Mart gains 2% on opening four new retail stores

Three new stores were opened by the company in Uttar Pradesh and one in Jharkhand. It also closed down one store in Odisha.

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Adani Green climbs 3% after commissioning 100 MWac solar power plant at Khirsara, ahead of schedule

Feat takes Adani Green Energys total operational renewable capacity to 2,950 MWac; a step closer to its vision of 25 GW capacity by 2025.

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Markets enter in a volatile session on last day of 2020; Sensex, Nifty trade flat; IT underperforms; ONGC in lead

BSE Midcaps and BSE SmallCaps also saw a marginal upside.

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DRDO and Indian Navy conduct maiden test trial of SAHAYAK-NG Indias first Air Dropped Container

SAHAYAK-NG container was developed by two DRDO laboratories i.e. NSTL, Visakhapatnam and ADRDE, Agra along with Avantel for GPS integration.

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Regional soft drink companies set to shift to 40% GST slab

Facing heat from GST officials for evading taxes on the pretext of adding fruit juice or pulp to their carbonated beverages, local soft drink companies are set to shift to the 40% levy, said people familiar with the development.

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What's in the UK, EU post-Brexit trade pact

Starting on January 1, ties between the European Union and Britain will be determined by their post-Brexit trade deal that was finalised last week after ten months of fierce negotiations.

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Vascon Engineers gets extension in repayment of NCDs from Debenture holders

The repayment date has been amended from December 30, 2020, to April 30, 2021, on account of global pandemic Covid-19.

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Companies go beyond gender, eye neurodiverse talent

Progressive companies understand the importance of diversity and inclusion (D&I) beyond gender. But even while India Inc is still scratching the surface with respect to gender diversity, some organisations like EY and Fujitsu India have begun to transform their work culture to embrace neurodiverse talent too.

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Amid spat over target, stage set for big divestment

The massive shortfall in the Rs 2.1-lakh-crore disinvestment target has triggered unease within the government. The department for investment and public asset management (Dipam) is blaming the department of financial services for imposing an additional Rs 90,000-crore target through the sale of the Centre's stakes in LIC and IDBI Bank, which may not realise this year.

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View: India may see freakish high growth in 2021 and three things in the big picture

Indian economy has shown resilience amid Covid and low GoI debt creation may aid recovery. But without deep reforms new normal will be 6%, not 8%

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates flat opening for Indian markets

For today expect intraday volatility as we witness the highest ever close in derivative contracts.

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Top stocks in focus: Vedanta, Indian Bank, Adani Green, Filatex India, FDC

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Centre extends deadline to file I-T returns

After intense lobbying by chartered accountants and tax professionals, the government has granted a fresh extension to those who have not filed their returns, citing Covid-19 as the reason.

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Commodity Mantra Morning Update: Gold steady Oil and Base Metals trades lower

Here is our technical view on Commodities.

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NDTV to appeal against Sebi's order of Rs5cr penalty on loan agreement non-disclosure involving founders

Sebi's penalty on NDTV for not disclosing loan agreements information which was entered in 2009-2020 by the founders with Vishvapradhan Commercial.

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Ind-Ra withdraws credit ratings of newly amalgamated CSTL with CEAT

CEAT Speciality Tyres bank facilities have been fully repaid by CEAT Limited consequent to the merger.

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Kalpataru Power Transmission stock climbs 2% after receiving orders worth Rs900cr

KPTL is one of the largest and fastest growing specialized EPC companies in India engaged in powertransmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contractingand warehousing & logistics business with a strong international presence in power transmission &distribution.

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Government likely to extend mandatory use of FASTag for toll payment on National Highways

The government is set to extend the deadline for 100% collection of toll charges on the National Highway (NH) network through FASTag. Earlier, the National Highways Authority of India (NHAI) had announced to completely do away with cash transactions for paying toll charges from January 1.

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Market pulse at 10:15 AM today

Here is the stock market performance at 10:15 AM today.

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Reliance Industries completes acquisition of IMG-R from IMG Singapore for over Rs52cr

IMG-R has now become a wholly-owned subsidiary of RIL.

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JMC Projects secures new orders worth Rs698cr; Stock gains 3%

JMC Projects CEO said that the company's order inflows for the current year has crossed Rs6,700cr.

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Tilaknagar Industries launches premium brandy CNB Green in Telangana

The company wants to expand its brandy portfolio and widen market breadth.

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Markets slip in red amid lacklustre global cues; Sensex sheds 130 pts, Nifty struggles near 13,900; Banks underperform; SBI top loser

The benchmarks opened on a flat note, however, soon entered into the negative territory with banking, consumer durables and healthcare stocks dragging the most.

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ICRA upgrades IFGL Refractories credit rating to ICRA AA-; stock gains 2%

The outlook on the long-term rating is 'Stable'. The short-term rating for Rs173cr LOC has been reaffirmed at ICRA AI+.

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Indostar Capital Finance to allot NCDs worth Rs100cr on private placement basis; stock up over 1%

The redemption will be paid in four equal quarters i.e Rs2.5 lakhs per NCD aggregating to Rs25cr.

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Govt plans spending boost to counter Covid impact

The government is set to swing from being a cautious spender in 2020 to opening the fiscal floodgates as Prime Minister Narendra Modi seeks to pull Asia’s third-biggest economy back from the worst of the pandemic.

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CEPI partners with Bio E to advance development and manufacture of Covid-19 vaccine candidate

CEPI will initially contribute up to $5m toward the cost of scaling up the process for manufacturing the vaccine.

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From the lab to the jab: How BioNTech-Pfizer won vaccine race

It was over breakfast on the wintry morning of January 24 that Ozlem Tureci and her husband Ugur Sahin decided, "we need to fire the starting gun on this". Sahin "had concluded from a publication describing coronavirus cases in Wuhan ... that there was a high probability that a pandemic could be imminent", Tureci recounted.

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Govt likely to extend mandatory use of FASTag

The government is set to extend the deadline for 100% collection of toll charges on the National Highway (NH) network through FASTag. Earlier, the National Highways Authority of India (NHAI) had announced to completely do away with cash transactions for paying toll charges from January 1.

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India is set to swing from being a cautious spender in 2020 to opening the fiscal floodgates in Budget 2021

Government spending is key to staving off a prolonged crisis in the nation that’s home to the world’s second-largest coronavirus outbreak.

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates positive opening for Indian markets

For today expect more volatility as we see the highest ever close on Indian stock indices.

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Top stocks in focus: SBI, NDTV, Jindal Steel, Jindal Stainless, RIL

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Commodity Mantra Morning Update: All commodities trade steady

Here is our technical view on Commodities.

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Air bags for front seats may be must for new cars from April 1

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Onion prices shoot up 28 percent after government announces easing on export ban

The government had banned exports in September this year as prices were rising after a low harvest. Major buyers of Indian onions include Indonesia, Malaysia, Sri Lanka, Nepal and Middle East.

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Banks need Rs 1L cr for NPAs, growth

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Strong IT business recovery expected

The improvement that IT companies have been seeing after the slump in the June quarter is expected to continue in the December quarter and after. Accenture, which follows a September-August financial year, recently announced the first quarter results for fiscal year 2021 that lifted its share price by 7%.

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Brickwork assigns BWR D rating on Steel Exchange Indias NCDs

The rating on the issue up to Rs400cr by the company is valid for one year.

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Wipro's Rs9,500cr buyback plan opens today; Stock hits 52-week high

Wipro's buyback will be available till January 11, 2021. The last date for settlement of bids is January 20, 2021.

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TCS hits new all-time high, spans market cap of Rs11 lakh cr ahead of Rs16,000cr buyback plan closing on Jan 01

TCS has touched a 52-week high of Rs2951.90 per piece in early deals, resulting in nearly 1% gain so far on Sensex.

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LANXESS expands portfolio with new ion exchange resins for heparin production and sugar decolorization

The macroporous, strongly basic anion exchange resin that meets food quality standards is based on a cross-linked polyacrylate.

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BJP presents suggestions for upcoming union budget to Nirmala Sitharaman

"Issue for the development of the respective states and different segments were presented to the Finance Minister. Farmer's concern, expectations of labour force and trade and industries' wish list including middle-income group's concerns were extensively discussed in the meeting," it stated.

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Market pulse at 10:15 AM today

Here is the stock market performance at 10:15 AM today.

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Titan Company to provide corporate guarantees upto Rs906cr for its subsidiary

The corporate guarantees to be provided by the company to guarantee funding limits to be availed by Titan Commodity upto Rs906cr from various banks.

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Punjab National Bank culminates IT integration of all branches of erstwhile United Bank of India; stock up 1.5%

The entire migration has been completed without effecting any change in customers account numbers, debit cards or Net Banking credentials.

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Market at near fresh record-high ahead of New Year; Sensex up 280 pts, Nifty above 13,950; Banks star performer; IndusInd Bank leads

Banking stocks stood top bulls of the day for second-consecutive day. BSE Bankex skyrockets by a massive 460.19 points.

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Maral Overseas refutes media news of expansion plans in garment operations

The company said no such proposal as yet has been approved by its Board of Directors.

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BSEs India INX single day trading turnover crosses all time high of Rs96,033cr

Its average daily trading turnover has crossed over Rs74,398cr mark in the month of Dec 2020, over 51% growth in average daily trading turnover as compared to previous month.

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Alibaba probe stirs worry about what’s next for Chinese tech

Alibaba Group Holding Ltd led a second day of frenetic selling among China’s largest tech firms, driven by fears that antitrust scrutiny will spread beyond Jack Ma’s internet empire and engulf the country’s most powerful corporations.

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Banks mark Reliance Communications' a/c as fraud

State Bank of India (SBI), Union Bank of India (UBI) and Indian Overseas Bank (IOB) have marked Reliance Communications' (RCom's) account as fraud, according to banking sources.

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates positive opening for Indian markets

For today expect 13900 to be crossed as foreign flows seem unstoppable & the global cues equally supportive.

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Top stocks in focus: Biocon, AU Small Finance Bank, HDFC Bank, Titan, GE Shipping

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Commodity Mantra Morning Update: Gold Oil steady while Base Metals trade mostly higher

Here is our technical view on Commodities.

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Tata Trusts can enjoy tax exemption: ITAT

A high-profile Mumbai bench of the Income Tax Appellate Tribunal (ITAT) on Monday quashed the revisionary orders passed by the commissioner (exemptions), which would have resulted in three Tata Trusts having to bear taxes running into several lakhs.

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High liquidity helps cos get record Rs 1.8L cr

The onset of the Covid-19 pandemic and a sharp slide in the stock market in the early months of 2020 notwithstanding, companies raised a record amount of money through equity and quasi-equity routes this year. ​​Nearly Rs 1.8 lakh crore was raised during the year through a combination of initial public offerings (IPOs), qualified institutional placements (QIPs), offers for sale (OFSs) and follow-on public offerings (FPOs), data published by Prime Database showed.

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WFH works, but offices will reopen cautiously

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Govt weighs imposing 18% GST on bitcoin trade

The government is weighing a proposal to impose 18% goods and services tax (GST) on bitcoin transactions, estimated to be around Rs 40,000 crore annually. ​​The Central Economic Intelligence Bureau (CEIB), an arm of the finance ministry, has put forward the proposal to the Central Board of Indirect Taxes & Customs (CBIC), suggesting that the government could potentially receive Rs 7,200 crore annually on bitcoins trading in the country.

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Tesla will start India ops early next year: Gadkari

Road transport and highways minister Nitin Gadkari said on Monday that the US electric vehicle major Tesla will start operations in India early next year. ​​“The company is expected to start its operations, first with sales for its vehicles in India from next year, and considering the demand, it would also look into setting up a manufacturing facility here,” Gadkari told TOI.

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PM to launch Indias first-ever driverless train operations on Delhi Metro and National Common Mobility Card service today

According to the statement, after the start of driverless services on the Magenta Line, the Pink Line of Delhi Metro is expected to have driverless operations by the mid of 2021.

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Market pulse at 10:15 AM today

Here is the stock market performance at 10:15 AM today.

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RIL gains ~2% on agreements to acquire stakes held by IMG Singapore in IMG-R for Rs52.08cr

IMG Reliance Limited (IMG-R) is a joint venture between IMG Worldwide LLC (IMG) and the Company.

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Confidence Petroleum soars 6% after completing first CNG station in Kolkata for Bengal Gas Corporation

The project is part of the seven stations project awarded to the company for Erection, Procurement and Commissioning (EPC) of seven CNG stations in Kolkata city.

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Panache Digilife launches interactive video conferencing solution

Panache Video Conferencing Solution is Interactive and, includes Webinar Application that helps people meet, discuss and build relationships interactively and more efficiently.

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UltraTech Cement considers to raise Rs1,000cr through NCDs; stock trades higher

The cement company considers issuance of 10,000 NCDs of Rs10 lakh each on private placement basis on or after December 30, 2020.

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Market rallies to fresh record highs amid global cues; Sensex tops 320 pts, Nifty above 13,850; Bank outperforms; SBI leads

The domestic equities perform on a massive bullish note tracking positive global cues after Trump backs Covid-19 aid bill.

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Break-even year for bleeding PSU banks

The economy has shrunk 15.7% in the first half, jobs have been lost, incomes have contracted and uncertainty hangs over high-contact services with the survival of many in doubt.

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Vaccine boost for travel and retail sectors

After receiving a debilitating shock treatment at the hands of Covid, several industries in India across retail, FMCG and automobile are set to get back on their feet in 2021.

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Zensar welcomes its third batch of Work from Anywhere (WFA) recruits

This unique work model was introduced in the second quarter of FY21.

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Latest Sovereign Gold Bonds 2020-21 opens today at an issue price of Rs5,000 per gram

The Centre will make settlement on January 05, 2021.

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Lanxess increases prices for 1,6-hexanediol

The increase amounts to EUR 350 per metric ton. The reason for the adjustment is the significant rise in raw material costs over the past months.

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Reliance Capital again misses payment of interest on NCDs

The company rued that it is unable to proceed with asset monetization due to prohibition on the company through various court orders since downgrading in ratings by CARE last year.

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Stock bet or safety in gold? What should be your pick

2020 was a standout year for stocks, gold and bitcoins as investment destinations. But FDs took a hit with the plunging rate of interest. Debt mutual funds, however, recorded a good return as interest rate fell, but shutting down six debt schemes made investors jittery.

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates positive opening for Indian markets

For today, expect some higher volatility as markets brace for the highest ever expiry close in the derivative contracts expiry week for December.

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Top stocks in focus: Reliance Industries, Advanced Enzyme Technology, Biocon, Lupin, Cadila, Central Bank of India

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Specialty Chemicals Company Anupam Rasayan files for Rs760cr IPO

The company commenced operations in 1984 with conventional products and has now carved a niche for itself into speciality chemicals that involve multi step synthesis and complex chemistries such as Etherification, Acylation, Cyclization, Diazotization and Hydrolysis etc.

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Rise & reset: Rebuilding in face of uncertainty

The swift recovery displayed by the economy after the bruising impact of one of the strictest lockdowns in the world to prevent the spread of the Covid-19 infection has surprised many. It has also brought some cheer for policy makers in an otherwise gloomy year.

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Will home loans, health cover get more affordable?

You didn’t need to visit a branch to open a bank account in 2020. Come 2021, the digital drive will continue even as tough lessons from the previous year will force the financial world to innovate.

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Don’t fly in Chinese nationals: Centre to airlines

In a strong retaliatory push, India has asked all airlines informally not to fly Chinese nationals into the country. This comes after China’s not-so-subtle move to stop Indians from flying into their country, something that has only tightened since November.

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Commodity Mantra Morning Update: All commodities trade steady

Here is our technical view on Commodities.

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Govt to launch new quarterly jobs survey from March 2021

The government will launch a new quarterly employment survey from March next year that will amalgamate two existing surveys; the Quarterly Employment Survey (QES) and the Area Frame Establishment Survey (AFES). ​​A more expansive version of the existing enumeration exercises, the new survey is likely to be christened the All India Quarterly Base Establishment Survey (AIQBES), and is aimed at plugging the assessment gaps in understanding the real employment situation in the country.

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Credit demand fails to pick up despite aggressive rate cuts

Besides 115 basis points reduction in the benchmark repo rate, the rate at which RBI lends to bank, the central bank has infused liquidity into the system through unconventional tools such as LTRO/TLTRO operations to make loans cheaper.

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Traders urge Finance Minister, GST council to modify new GST notification

The Central Board of Indirect Taxes and Customs (CBIC) has introduced Rule 86B in GST Rules, to be applicable from January 1, 2021, which restricts use of input tax credit for discharging GST liability to 99 per cent.

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Over 4.15 crore Income Tax Returns filed for the 2019-2020 fiscal, as of December 26

The deadline to file ITR by individual taxpayers for FY2019-20 ends on December 31, 2020, while the same for taxpayers whose accounts require to be audited is January 31, 2021.

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About 40% small businesses say it’s impossible to file tax returns by month end, want extension: LocalCircles

As per the survey 41% of small businesses have said that it would be impossible for them to file income tax returns by December 31. The government has already extended the deadline for filing the tax returns due to the Covid pandemic.

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China orders Ant Group to rectify businesses

Chinese regulators have ordered Ant Group, the world's largest financial technology company, to rectify its businesses and comply with regulatory requirements amid increased scrutiny of anti-monopoly practices in the country's internet sector.

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Budget 2021-22: CII suggests graded road map towards competitive import tariffs

​​ The Confederation of Indian Industry (CII) has proposed the road map to encourage domestic manufacturing in alignment with global trade trends that would boost India's export competitiveness as per shifting global value chains in the next three to five years.

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No going back on privatisation of BPCL, Air India

The spadework started late last year and 2020 was supposed to be the landmark year in India's history of privatisation with at least three top PSUs -- the nation's second-biggest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), national carrier Air India and Shipping Corporation of India (SCI) up for sale.

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India-Australia ties become comprehensive strategic partnership in pandemic-riddled 2020 as China looks on

India and Australia, against the backdrop of their frosty relations with China, unveiled a ''shared vision for maritime cooperation in the Indo-Pacific'', a region which has been witnessing growing Chinese military assertiveness triggering concerns among major players.

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Ministries, depts asked to relook laws to ease regulatory compliance burden for industry: Official

"Reducing the regulatory compliance burden is a priority area for the government. There are a lot of compliance burdens and we have to reduce that. Every ministry is doing this on a war footing," a senior official in the commerce and industry ministry said.

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India-Taiwan trade prospects look promising in 2021: TAITRA

The overall restructuring of supply chains will give India a very unique place and attract many Taiwanese companies to invest in the country, TAITRA chairman James CF Huang said.

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Divergences in rural, urban inflation do not persist for long: RBI paper

Empirical estimates, it said, revealed that the differentials between rural and urban inflation are transient and both exhibit a long-run equilibrium relationship, with a significant error correction in the short-run.

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