RBI retains repo rate at 6.5%
Chennai, Aug 10 (SocialNews.XYZ) As predicted by economists, the Reserve Bank of India’s Monetary Policy Committee (MPC) did not change the repo rate from 6.50 per cent. Announcing the decision of the MPC after its…
Economy
EID Parry gives bitter news of Q1 net loss of Rs 45.77cr
Chennai, Aug 9 (SocialNews.XYZ) Sugar major EID Parry (India) gave the bitter news of posting a net loss of Rs 45.77 crore for the first quarter of FY24. In a regulatory filing, EID Parry said…
Equity mutual funds saw net inflows dip sequentially in July
New Delhi, Aug 9 (SocialNews.XYZ) Equity mutual funds saw net inflows dip sequentially in July on the back of outflows from large-cap funds, but flows remained positive for the 29th consecutive month, says Deepak Jasani,…
Domestic market witnesses late recovery supported by positive uptick in European market
New Delhi, Aug 9 (SocialNews.XYZ) Domestic equities reversed their losses following a recovery in the global markets after Italian authorities clarified that the new tax could not breach 0.1 per cent of a lender’s total…
BigBasket’s B2B arm Supermarket Grocery Supplies’ losses swell 21%: Report
New Delhi, Aug 9 (SocialNews.XYZ) Tata Group-owned BigBasket’s B2B arm Supermarket Grocery Supplies Pvt Ltd’s losses widened 21 per cent to Rs 215.2 crore in FY23, the media reported on Wednesday. The unit registered a…
Govt doubles down on safeguarding Indians from rising cyber crimes: MoS IT
New Delhi, Aug 9 (SocialNews.XYZ) The government aims to ensure an open, safe, trusted and accountable Internet for Indian citizens, keeping in view the emerging challenges of cybercrimes, and has taken several steps towards reaching…
Top tech firms seek Nov 1 laptop import restriction deadline extended by a year
New Delhi, Aug 9 (SocialNews.XYZ) Top consumer electronics companies like HP, Apple and Dell have urged the government to extend the November 1 deadline for the licences required for PCs, laptops and tablets by at…
Rural consumption at six quarter low led by declines in tractor sales, farm exports
New Delhi, August 9 (SocialNews.XYZ) Rural consumption grew at six-quarter lowest of 2.8 per cent in 1QFY24 led by sharper declines in tractor sales and farm exports. An analysis of 10 proxy indicators suggests that…
US stocks sink as Moody’s warns it could cut credit ratings of 6 big banks
New Delhi, Aug 8 (SocialNews.XYZ) Moody’s has put the credit ratings of six large US banks, including Bank of New York Mellon, State Street and Northern Trust, under review for a possible downgrade, sending stocks…
Coal India posts lower net on consolidated basis at Rs 7,971cr
Chennai, Aug 8 (SocialNews.XYZ) Coal mining major Coal India Ltd on Tuesday said it had posted a lower net profit of Rs 7,971.04 crore on consolidated basis for the first quarter of FY24. In a…
Why EVs are not the best of alternative mobility fuel choices for now
New Delhi, Aug 8 (SocialNews.XYZ) A recent study by IIT Kanpur has found EVs to be more damaging for the environment than hybrid vehicles and conventional ICE vehicles. Although this is a one-off research in…
Domestic equities remain subdued
New Delhi, Aug 8 (SocialNews.XYZ) Domestic equities along with its Asian peers were subdued after China reported weak trade data, Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, has said. Nifty, after opening…
Not the time to go overboard on equities given the valuations, say analysts
New Delhi, Aug 8 (SocialNews.XYZ) Analysts say this is not the time to go overboard on equities given the valuations. Given the valuations versus macro tradeoff, we would recommend being invested but in line with…
Stanlow Terminals and Eni UK sign MOU to develop carbon dioxide transport and storage projects
New Delhi, Aug 8 (SocialNews.XYZ) Stanlow Terminals Ltd (‘Stanlow Terminals’), the UK’s largest independent bulk liquid storage provider has signed a Memorandum of Understanding (MoU) with Eni UK Ltd (‘Eni UK’), the UK subsidiary of global energy company Eni, to explore the…
Rapid increase in vegetable prices can push headline CPI-inflation for July much higher at 7.5%
New Delhi, Aug 8 (SocialNews.XYZ) Apart from tomatoes, prices of green chili, ginger, and garlic (G3) have also more than doubled in YoY terms in July’23. The combined weight of G3 vegetables is 0.78 per…
India’s fabric care category to grow at 7%, outperform global market
New Delhi, Aug 8 (SocialNews.XYZ) India’s fabric care market is projected to grow from Rs 521 billion in 2022 to Rs 639 billion in 2025, with liquid detergents expected to dominate this market and lead…
Sustained selling by FIIs of Rs 10,437 cr during last eight sessions
New Delhi, Aug 8 (SocialNews.XYZ) A significant near-term trend in the market now is the sustained selling by FIIs of Rs 10,437 crore during the last eight trading sessions matched by the sustained buying by…
CBI books Allahabad-based firm, directors in Rs 46.79 cr loan fraud case
New Delhi, Aug 7 (SocialNews.XYZ) The Central Bureau of Investigation (CBI) said on Monday that it has registered a case against Greendiamz Biotech Pvt. Ltd., a private company based in Ahmedabad, along with its directors…
Paytm Payments Services appoints S.R. Batliboi & Associates as its auditor
New Delhi, Aug 7 (SocialNews.XYZ) One97 Communications Limited on Monday informed the exchanges that its wholly-owned subsidiary Paytm Payments Services Limited (PPSL) has appointed S.R. Batliboi & Associates as its auditor. The statutory auditors have…
SEBI to consider provisions for unexplained suspicious trading patterns
New Delhi, Aug 7 (SocialNews.XYZ) Similar to the provision in the Income Tax Act on “unexplained credits”, markets regulator SEBI would seek to consider provisions for “unexplained suspicious trading patterns”. SEBI, while dealing with the…