New Delhi, July 11 (IANS) The number of demat accounts increased to 162 million in June, jumping 4.2 million (month-on-month), a report showed on Thursday.

In the current fiscal, the average monthly demat accounts addition has been 3.4 million to date.

In June, the Central Depository Services Limited (CDSL) continued to gain market share in terms of the total number of demat accounts, according to the report by Motilal Oswal Financial Services.

On a year-on-year basis, the National Securities Depository Limited (NSDL) lost 420 bp/620 bp market share in total/incremental demat accounts, the report mentioned.

The number of active clients on the National Stock Exchange (NSE) increased 3.1 per cent (on-month) to 44.2 million in June.

Currently, the top five discount brokers account for 64.4 per cent of total NSE active clients in comparison to 58.2 per cent in June 2022.

Online brokerage Zerodha reported a 2.1 per cent increase in its client base to 7.7 million (on-month), with a 20 basis point (bp) decline in market share to 17.3 per cent.

Groww reported a 5.4 per cent increase in its client count to 10.9 million, with a 55 bp rise in market share to 24.7 per cent. Angel One reported a 3.4 per cent increase, said the report.

–IANS

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New Delhi, July 11 (IANS) After the successful implementation of the e-Office platform in the Central Secretariat in 2019–2024, the government on Thursday said that it will be implementing e-Office in all attached, subordinate offices and autonomous bodies as part of the Department of Administrative Reforms & Public Grievances’ (DARPG) 100-day agenda.

About 133 attached, subordinate offices and autonomous bodies were identified for implementation following inter-ministerial consultations.

DARPG issued the guidelines for the adoption of e-Office in attached, subordinate offices and autonomous bodies on June 24.

In 2019–2024, the adoption of e-Office gained significant momentum in the Central Secretariat with 37 lakh files i.e., 94 per cent of files being handled as e-Files and 95 per cent of receipts being handled as e-receipts.

The government developed e-Office analytics to further deepen the initiative.

The onboarding roadmap and technical modalities were discussed in an inter-ministerial meeting chaired by Secretary DARPG, V Srinivas and attended by officials of all Ministries/Departments and Senior Officers of 133 attached, subordinate offices and autonomous bodies.

–IANS

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Thiruvananthapuram, July 11 (IANS) Adani Group’s Vizhinjam Port, India’s first trans-shipment port near Kovalam Beach in Kerala, received its first mothership on Thursday.

‘San Fernando’, a vessel of the world’s second-largest shipping company Maersk, arrived at the port country with over 2,000 containers on it, thus creating history.

The giant vessel was given the traditional water salute following which it berthed successfully.

With the arrival of the first mother ship, Adani Group’s Vizhinjam Port has catapulted India into the world port business as globally this port will rank 6th or 7th.

Those present to receive the mothership included State Ports Minister V.N. Vasavan, officials from the Adani Port and senior state government officials.

The official function will take place on Friday. It will be attended by Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, Chief Minister Pinarayi Vijayan and Adani Ports and SEZ Ltd (APSEZ) Managing Director Karan Adani.

Soon after the official inauguration, the mothership will move to its next destination at Colombo and after that many more ships are scheduled to arrive with cargo.

Friday will mark the official completion of the first phase of the port, which has a 3,000-metre breakwater and 800-metre container berth ready.

Of the 32 cranes required, all but one have come. A 1.7 km approach road for connectivity is almost complete, while the office building, security area and electric lines are all ready.

Another feature of this port is that it is the first semi-automated container terminal in the country and will also be a global bunkering hub, supplying clean and green fuels like hydrogen and ammonia. Full-fledged commercial operations in the port are slated to begin in a few months.

The second and third phase of the project is planned to be completed in 2028 and will be one of the greenest ports in the world.

The port is also strategically located as it is just 10 nautical miles from the International Shipping Route connecting Europe, the Persian Gulf and the Far East.

–IANS

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New Delhi, July 11 (IANS) Retail inflation for industrial workers eased to a 4-month low of 3.86 per cent in May compared to 4.42 per cent in the same month a year ago, according to the latest data released by the Labour Ministry.

The Consumer Price Index-Industrial Workers (CPI-IW) has been steadily declining since February this year and was 3.87 per cent in April 2024, figures compiled by the Labour ministry show.

The All-India CPI-IW for May 2024 increased by 0.5 points and stood at 139.9 points. It was 139.4 points in April 2024.

The fuel & light segment declined to 149.5 points in May from 152.8 points in April 2024.

The food and beverages group increased to 145.2 points in May from 143.4 points in April this year.

The Labour Bureau, under the Ministry of Labour & Employment, compiles the Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread across 88 industrially important centres in the country.

–IANS

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New Delhi, July 11 (IANS) Driven by rural demand recovery owing to normal monsoon and moderating inflation, India is projected to see a surge in private consumption in the current fiscal, a report has said.

According to India Ratings and Research, the rise in private consumption would lead to more balanced growth, reducing the disparity between premium and value segments.

According to the report, urban demand will also continue to grow but at a slower pace.

The growth disparity would moderate in FY25, exhibiting slightly more broad-based growth contours, said India Ratings.

There has been a constant rise in rural consumption demand in recent years.

Riding on a revival in rural demand and steady urban growth, the fast-moving consumer goods (FMCG) sector in India is also projected to see a revenue growth of 7-9 per cent this fiscal.

According to a recent Crisil Ratings’ study of 77 FMCG companies, “We expect volume growth of 6-7 per cent in fiscal 2025 from the rural consumers (40 per cent of overall revenue), supported by expectation of better monsoon benefitting agricultural production, and hike in minimum support price supporting farm incomes.

According to the report, higher government spending on rural infrastructure, primarily through Pradhan Mantri Awaas Yojana-Grameen (PMAY-G) for affordable houses, will aid higher savings in rural India, supporting their ability to spend more.

On the other hand, according to the Crisil report, volume growth from urban consumers will remain steady at 7-8 per cent during fiscal 2025 supported by rising disposable incomes and continued focus on premium offerings by the players, especially in the personal care and home care segments.

The food and beverages (F&B) segment is expected to grow 8-9 per cent this fiscal, aided by improving rural demand.

–IANS

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