Top 10 Penny Stocks Gainers Today - September 7, 2022

As per a recent note by Moody's Investors Service, India's economic recovery is unlikely to be derailed by rising challenges to the global economy, higher inflation and tightening financial conditions. The reputed rating agency saw the Indian economy expanding by 7.6% in the current fiscal compared to 8.7% growth in the last financial year that ended on March 31. For 2023-24, it estimates a 6.3% GDP growth. 

As per estimates by Deutsche Bank, India's consumer price index (CPI) will stand at 6.9% year-on-year in August, while core inflation will come in at 6%. While Brent crude oil prices have recorded a steep decline in recent weeks, the favourable impact will be less reflected in the CPI as fuel items account for a very small weight. 

Coal production in India rose to 58.33 million tonnes in August 2022, up by 8.2% from the 53.88 million tonnes recorded in the corresponding period of last year. As per data from the Coal Ministry, Coal India as well as other captive mines recorded a growth of 8.49 and 27.06% respectively by producing 46.22 million tonnes and 8.02 million tonnes, respectively. Coal dispatch soared by 5.41% to 63.43 million tonnes in August 2022 compared to 60.18 million tonnes recorded in the same month last year. 

As per a recent report by Bizom, India's fast-moving consumer goods market increased 6% in value in August compared to July, reversing the past three months of consecutive sequential decline, as demand for personal care and commodity products picked up.