Business
Buffalo milk prices rising in Mumbai from March 1, will have cascading effect
The buffalo milk wholesale prices in Mumbai will shoot up by Rs 5/litre from midnight on Tuesday and could trigger a significant cascading effect on the entire food industry that depends on it as its raw material, milk industry players say.
Portending a hard hit, the Mumbai Milk Producers Association (MMPA) last Friday announced the steep hike in wholesale price of buffalo milk.
The bulk milk prices will go up from Rs 80/litre to Rs 85/litre and will remain in force till August 31, MMPA Executive Committee Member C.K. Singh said.
This will be followed by a similar increase in the retail market by the 3,000-plus retailers in Mumbai for the creamy fresh buffalo milk, which would now sell at around Rs 90 per litre – up from the current Rs 85 per litre – from March 1.
These sharp hikes shall be borne by the ordinary consumers not only in the form of dearer plain milk, but also other milk products that are consumed by households daily.
“This would impact, albeit marginally, the rates of a cup of tea-coffee-ukala-milkshakes, etc, served by restaurants, at the ordinary pavement vendors, or in small eateries,” said MMPA Treasurer Abdul Jabbar Chhawaniwala.
The duo said that there are many other milk products like khoya, paneer, sweetmeats like pedha, barfi, certain north Indian or Bengali sweet varieties which are milk-based which could witness a price hike now.
Prominent milkman in north Mumbai, Mahesh Tiwari rued that the price hike has come on the eve of certain festivals and also the big fat weddings season, which would be hit by the whole-sale milk price hike from Wednesday.
“The demand for milk and milk products goes up at least 30-35 per cent during festivals and even higher for weddings, marriages and other social events, and the new rates would be applicable,” he said.
There’s a string of festivals like Holi, Gudi Padva, Ram Navami, Mahavir Jayanti, Easter after Good Friday, Ramzan Eid, and others in the next couple of months where the celebration budgets would have to be expanded, says Singh.
The hike has been necessitated to offset the increased prices of milch animals as well as their food items like dana, tuvar-chuni, chana-chuni, makai-chuni, udad-chuni, green grass, rice grass, hay, which have seen steep price rises by 15-25 per cent in the past few months, Singh said.
“Inflation has become unbearable, many of the items that make buffalo feed are almost wasted, but we have to buy them at higher rates from the market. So the milk price hike was inevitable, though done reluctantly,” rued MMPA General Secretary Kasim Kashmiri.
Singh avers that normally, any fluctuation in milk prices in Mumbai is usually followed by an increase in milk rates in the rest of the country, too.
On an average, Mumbai consumes over 50 lakh litres of buffalo milk daily, of which more than seven lakh is supplied by the MMPA through its chain of dairies and neighbourhood retailers, through their farms spread in and around the country’s commercial capital.
This is the second major hike by MMPA after September 2022 when the buffalo wholesale milk prices was jacked up from Rs 75 per litre to Rs 80 per litre, making domestic budgets of poor and middle-class families go haywire.
Incidentally, in February 2023, all the major cow milk producers’ associations in Maharashtra, along with other major branded producers, have hiked the prices of cow milk by at least Rs 2 per litre.
Business
Sensex, Nifty open flat; IT and realty stocks lead gains

Mumbai, Oct 13: India equity benchmark indices opened flat on Tuesday amid buying in IT and realty sector shares.
At the opening bell, Sensex was at 71,951.73, up 27.05 points or 0.04 per cent. Meanwhile, Nifty began trading session at 22,364.15, up 0.80 points or flat.
Sector-wise, Nifty IT, Nifty Midsmall IT & Telecom and Nifty Realty jumped up to up 2 per cent. Nifty PSU Bank was up 0.31 per cent, Nifty FMCG up 0.22 per cent and Nifty Oil & Gas up 0.20 per cent.
On the downside, healthcare and pharmaceuticals shares witnessed selling pressure as Nifty Midsmall Healthcare fell, Nifty 500 Healthcare, Nifty Pharma and Nifty Healthcare declined up to 0.75 per cent.
Market experts said there are no triggers to change ongoing trend of sustained FII selling and DII buying in the cash market.
But with the US 10-year bond yield above 5.2 per cent, FIIs are likely to continue selling in cash market. With net inflows into mutual funds touching a record high of Rs 38,307 crore in September, DIIs will continue to absorb selling from FIIs, experts said.
Moreover, CPI inflation at 5.54 per cent came on expected lines with food inflation at 7.74 per cent and Brent above $100. A rate hike by the RBI in December is a foregone conclusion and will be margin accretive for banks, they added.
Technical analysts said recovery construct has weakened significantly, but day will start with hopes of bounce back as yesterday’s slippage paused without breaking the recent low.
Such an upmove would need to push beyond 22,435 to signal strength, inability to do so could pave way for drop to 22,070-21,900, they said.
Additionally, Asian equities traded lower as AI rally came under fresh pressure ahead of key earnings season.
Nasdaq ended lower on Monday as oil prices surged following attacks on Saudi airport, while investors awaited start of third-quarter bank earnings and key economic data this week.
Business
Indian equity markets open higher amid positive global cues

Mumbai, Oct 12: Domestic equity benchmark indices opened higher on Monday amid positive factors like gains in Asian markets and a decline in crude oil prices.
Nifty began trading session at 22,593.20, up 72.75 points or 0.32 per cent.
Meanwhile, Sensex opened at 72,771.32, up 298.99 points or 0.41 per cent.
In early deals, mostly sectoral indices were trading in positive territory. Nifty Media, Nifty Auto and Nifty Chemicals jumped up to 1 per cent.
Similarly, Nifty Realty, Nifty Oil & Gas, Nifty Cement, Nifty Metal and Nifty IT surged between 0.81 per cent to 0.64 per cent. However, other sectoral indices were also trading marginally higher.
On the downside, Nifty PSU Bank just slipped 0.01 per cent.
Market experts said external headwinds are dominating domestic tailwinds, adding that the market is going through a stage wherein external headwinds are dominating domestic tailwinds.
Elevated crude prices and high US bond yields will continue to impact market. FIIs will continue to sell in the near term, and DIIs will continue to absorb FII selling, according to them.
Moreover, an impressive GDP growth estimate of 7.1 per cent for FY27 and improving corporate profitability provide strong fundamental support to the market, the experts said.
“Therefore, investors can accumulate fairly valued growth stocks ignoring uncertainty and volatility in market. For investors with medium-to-long-term horizon, this market provides value buying opportunities. Patience is key,” they added.
They further noted that if crude declines sharply following favourable developments in the Middle East, the market can rally significantly from current levels.
Technically, Friday’s bounce and inside bar formation set up an environment for a rise to 22,800-23,200. However, inability to close above 22,575 will keep trend within bear grip. Downside marker for day may be kept at 22,295, Friday’s reaction low, another analyst said.
In addition, asian markets opened cautiously today in early hours as investors braced for earnings season which could test elevated technology valuations.
Oil prices eased on prospects of higher Russian supplies following agreement to halt attacks on energy facilities.
Business
Indian Railways throws open 3,584 jobs for young graduates

New Delhi, Oct 11: Indian Railways has announced 3,548 graduate-level vacancies for jobs under the Non-Technical Popular Categories (NTPC–Graduate), which provide opportunities for graduates to work across different functional areas of railway operations and administration, according to an official statement issued on Sunday.
The recruitment through Centralised Employment Notification issued by the Railway Recruitment Boards (RRBs) covers four categories of posts, including Chief Commercial Cum Ticket Supervisor, Goods Train Manager, Junior Accounts Assistant Cum Typist, and Senior Clerk Cum Typist. These positions offer career opportunities across commercial services, train operations, accounts and administration, supporting the efficient functioning of railway services across the country, the statement said.
Of the total 3,548 vacancies, as many as 2,750 are for Goods Train Manager, followed by 371 for Senior Clerk Cum Typist, 300 for Junior Accounts Assistant Cum Typist, and 127 for Chief Commercial Cum Ticket Supervisor.
The posts offer initial basic pay under the Seventh Central Pay Commission. Chief Commercial Cum Ticket Supervisor carries an initial basic pay of Rs 35,400 per month at Pay Level 6, while the other three categories carry an initial basic pay of Rs 29,200 per month at Pay Level 5. Applicable allowances and service conditions will be governed by the relevant rules.
The online application process commenced on October 8, and eligible candidates can submit their applications until 11:59 p.m. on November 6. The last date for payment of the examination fee is November 8, while the application modification window is scheduled from November 9 to 18 November.
Candidates must possess a degree from a recognised university or its equivalent and fulfil the prescribed post-specific eligibility conditions. The notified age limit is 18-33 years as on January 1, 2027, with applicable age relaxations for eligible categories under the prescribed rules.
The selection process comprises a first-stage Computer-Based Test (CBT), a second-stage CBT, followed by document verification and medical examination, as applicable. The recruitment framework also provides applicable reservation and age-relaxation benefits, along with scribe assistance and compensatory time for eligible candidates with disabilities, in accordance with the prescribed provisions.
Another provision under CEN No. 06/2026 is the dispensation of the Computer-Based Typing Skill Test (CBTST) for the posts of Junior Accounts Assistant Cum Typist and Senior Clerk Cum Typist. Candidates are nevertheless expected to possess basic computer and typing proficiency, which will be assessed after joining, as specified in the notification, the statement said.
Candidates can access the detailed notification, vacancy distribution, eligibility criteria and recruitment updates through the official Railway Recruitment Boards website:https://rrb.indianrailways.gov.in
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