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Top News of Oct 12: Retail inflation in Sept falls to 4.35%; debt-hit Evergrande to roll out EVs and more

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Here are the top news from the world of business, economics, national and international politics and more, handcrafted for you by the CNBC-TV18.com team.

Top News of Oct 12: Retail inflation in Sept falls to 4.35%; debt-hit Evergrande to roll out EVs and more
The coal shortage is likely to cause an energy crisis in India. As multiple power plants are running out of coal reserves, many states are expected to face power shortages. Retail inflation declined to 4.35 percent in September, mainly due to lower food prices, according to government data released on Tuesday. CNBC-TV18 has learned that the government is aiming to file the DRHP for the LIC IPO with Sebi by January 2022. For all these stories and everything in between, here are some top news of the day
ECONOMY/BUSINESS
Retail inflation eases to 4.35% in September
Retail inflation declined to 4.35 percent in September, mainly due to lower food prices, according to government data released on Tuesday. The Consumer Price Index-based (CPI) inflation was at 5.30 percent in August and at 7.27 percent in September 2020. Continue Reading
RBI bars Haribhakti & Co from auditing regulated entities over SREI role
The Reserve Bank of India (RBI) has barred Haribhakti & Co LLP from undertaking any audit assignments for central bank-regulated entities for 2 years w.e.f April 1, 2022. The central bank's action against the company is in relation to its role as auditor of SREI group, sources informed CNBC-TV18. Read more
Ramkrishna Forgings expects chip shortage issue to get resolved in a month
According to Lalit Khetan, executive director and CFO at Ramkrishna Forgings, the semiconductor shortage issue that the industry is currently facing is temporary. “It will be over in the next one month’s time,” he said. Chip shortage certainly has some impact but still Khetan believes that the company will be able to perform better. Read more

MARKETS
Govt aims to launch LIC IPO by March 2022
CNBC-TV18 has learned that the government is aiming to file the DRHP for the LIC IPO with Sebi by January 2022. Yash Jain reports that there is likely to be minimum dilution of 5 percent and the government can take it higher depending on the appetite of the market. The government may look to raise about Rs 60,000-75,000 crore from the public issue. Read more
Tata Motors hits fresh 52-week high; Q2 global wholesales up 24% YoY
Tata Motors’ shares jumped as much as five percent on Tuesday after the auto major said its global wholesales in Q2 FY22, including Jaguar Land Rover, grew 24 percent on-year. The stock registered a fresh 52-week high again today at Rs 435.65 after foreign brokerage Morgan Stanley maintained its ‘overweight’ stance on the stock with a target price of Rs 448. Today’s upmove in the stock also follows the eight percent jump in the stock on Monday. Read more
Goldman Sachs bullish on Radico Khaitan as stock rallies 14.5%
Radico Khaitan is at a record high as Goldman Sachs initiated coverage on the stock some time back. Since then the stock has seen a big move and closed Tuesday's session 14.5 percent in the green. Radico Khaitan is the market leader in the vodka space and has recently launched Magic Moment Dazzle Vodka. Apart from this, they have also launched Royal Ranthambore Heritage Collection whisky. Radico also launched the Rampur whisky and the Jaisalmer Indian craft gin some time back. The two latest launches are priced between Rs 1,000 to 2,000 and have filled up gaps in their product range. Read more

WORLD
Can the Taliban suppress the potent IS threat?
The Islamic State group threatens to usher in another violent phase. Except this time the former insurgents, the Taliban, play the role of the state, now that the US troops and their allied Afghan government are gone. Continue Reading
IMF lowers global growth forecast to 5.9% for 2021
The International Monetary Fund (IMF) lowered its projection for global growth this year on supply disruptions impacting growth outlook for advanced economies, and worsening pandemic dynamics in low-income economies. Continue Reading
Debt-hit Evergrande to roll out EVs from next year
The electric vehicle unit of Chinese real estate developer Evergrande has said the company’s first EVs will be rolled out by 2022. Evergrande New Energy Vehicle will be selling its EVs under the brand name Hengchi. Continue Reading

INDIA
Bharat Biotech's Covaxin gets SEC's nod for kids aged 2-18 years
The Subject Expert Committee (SEC) has given a recommendation to the Drugs Controller General of India (DCGI) for the use of Bharat Biotech's Covaxin for kids aged 2-18 years against COVID-19. Continue Reading
As coal supplies run critically low, these states likely to face power crisis soon
In India, states are expected to be disproportionately affected depending on their dependence on coal-powered thermal power plants. States like Maharashtra, Tamil Nadu and Gujarat, which have a high capacity of renewables supplying their grid are expected to weather the coal shortage. But some states are expected to face power crises. Continue Reading
Former higher education secretary Amit Khare appointed as advisor to PM Modi
Former bureaucrat Amit Khare, who last month retired as higher education secretary, has been appointed as advisor to Prime Minister Narendra Modi for two years on contract basis, a personnel ministry order issued on Tuesday said. Continue Reading 

YOU & I 
NPS investment: How much should you invest to get over 1 lakh pension per month?
Retirement planning is invariably part of any investment strategy for individuals aiming to maintain a steady flow of income. Among many instruments available nowadays, the National Pension Scheme (NPS) has emerged as one of the best investment options to build a retirement corpus. Read more
Should you opt for 'buy now pay later' this festive season?
Buy now, pay later' (BNPL) is the latest finance fad among Indian consumers as fintech companies try to woo them with enticing offers this festive season. Boosted by aggressive promotion particularly on multiple e-commerce platforms along with minimal and easy know-your-customer (KYC) processes, shoppers especially youngsters are lapping up these schemes. Read more
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