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The annual Economic Survey for 2022-23 projected the economy to grow by somewhere between 6% and 6.8%, depending on global factors in 2023-24, with 6.5% a baseline expectation. While admitting that the world economy faces considerable uncertainty that could affect India’s growth, the survey struck a confident note, mirroring the sunny posture of the government, which plans to showcase the recovery on its watch as one of the main pitches for the 2024 polls. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wJnxcPV via IFTTT

President Droupadi Murmu Tuesday showcased fearlessness, decisiveness and stability among the hallmarks of the Modi government and emphasised these strengths have not only helped it tackle numerous challenges and played a crucial role in delivering transformative governance to the country, but also allowed the world to look towards India with high hopes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nRLOFiA via IFTTT

From the Sensex pack, Tech Mahindra, Larsen & Toubro, Tata Consultancy Services, HCL Technologies, Nestle, Infosys, Bajaj Finance, Asian Paints and Bajaj Finserv were the major laggards. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZjfIaN2 via IFTTT

Inflation in India is expected to come down from 6.8 percent in the current fiscal year ending March 31 to 5 percent the next fiscal, and then drop further to 4 percent in 2024, the International Monetary Fund (IMF) said on Tuesday.“Inflation in India as in other countries is expected to come down from 6.8 percent in 2022 to 5 percent in 2023 and then 4 percent coming towards the target in 2024,” Daniel Leigh, Division Chief, Research Department of the IMF told reporters. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zLU3Bpy via IFTTT

The highways and railway sectors are likely to get a combined budgetary allocation of over Rs 4 lakh crore, the highest ever. Both the ministries may see 20-30% increase in their allocation considering their track record in spending so far. During the current financial year, the Centre has allocated almost Rs 2 lakh crore for the road transport and highways ministry and going by the current trend of expenditure; the total spending is likely to touch Rs 2.1 lakh crore by March end. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8fPMB3b via IFTTT

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The government survey is likely to say that growth is seen at 6.5% for 2023-24 under the baseline scenario, the person said, declining to be named as the matter was confidential. This would be the slowest in three years. Nominal growth is likely to be forecast at 11% for 2023-24, the source added. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hNDHtPv via IFTTT

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The Centre is expected to close the year with higher than budgeted tax collections during 2022-23, marking the second straight fiscal year of the actual collections being more than the Budget estimates. During the last 22 years, there have been only two occasions - 2006-07 to 2007-08 and 2015-16 to 2017-18 - when the actual collections have been more than the Budget estimates (BE) during successive years. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nlMmiyr via IFTTT

Adani Group, which is in the eye of a corporate-cum-stock market storm due to a damning report by US-based short seller Hindenburg Research, late on Sunday said that 68 of the 88 questions posed by the firm were already addressed through annual reports of various group companies, offer documents and stock exchange disclosures. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BwE4VYJ via IFTTT

The Centre is expected to close the year with higher than budgeted tax collections during 2022-23, marking the second straight fiscal year of the actual collections being more than the Budget estimates. During the last 22 years, there have been only two occasions - 2006-07 to 2007-08 and 2015-16 to 2017-18 - when the actual collections have been more than the Budget estimates (BE) during successive years. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zq2FSuh via IFTTT

Institutional investors are fully backing the Rs 20,000-crore follow-on public offer (FPO) for Adani Enterprises (AEL) even though the stock is below the offer price. However the company is not sure how retail investors will look at the issue at the current market price. However, it is confident some high net worth and ultra-high net worth investors (UHNIs) will participate in it. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/H7AwkEJ via IFTTT

Electronics export from India is expected to cross Rs 1.28 lakh crore in the next financial year, minister of state for electronics and IT Rajeev Chandrasekhar has said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/S7tQOUw via IFTTT

Wadia group-owned Go First expects to receive Rs 210 crore under the government's credit line guarantee scheme next month as the budget airline seeks to boost its financial position and expand operations.The airline, which received Rs 210 crore from the promoters last month, aims to have 53 operational aircraft in its fleet by the start of April this year, its CEO Kaushik Khona told PTI. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/bJc5PkS via IFTTT

The ongoing earnings season, global market cues, domestic macroeconomic data announcements and auto sales numbers would also influence trading in the market, they added. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/71bFVqL via IFTTT

Foreign investors have pulled out a net of over Rs 17,000 crore this month so far due to the attractiveness of the Chinese markets and the cautious stance adopted by them ahead of the Union Budget and US Federal Reserve meeting.The outflow in January came after a net inflow of Rs 11,119 crore in December and Rs 36,239 crore in November. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/fXx7gsZ via IFTTT

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Amid speculation that Adani Enterprises may be forced to amend its Rs 20,000-crore follow-on public offer after a plunge in its stock price, the company clarified that its FPO remains on schedule at the set issue price. The flagship of the Adani Group had fixed the FPO at Rs 3,112-Rs 3,276 per share. However, on Friday, the first day of retail bidding for the FPO, the stock closed at Rs 2,762 on BSE. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9bcDvHy via IFTTT

A $2.5 billion share sale by India's Adani Enterprises remains on schedule at the planned issue price, the company told Reuters on Saturday, while sources said bankers were considering changes due to a market rout in the group's shares.Bankers on the deal were considering extending the sale or cutting the issue price after shares of Adani plunged following a report from a US short seller, three people familiar with the matter told Reuters on Saturday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4xCDbJO via IFTTT

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Bankers say that Adani Group's borrowings are secured by assets, and group companies have the required cash flows to service loans. Lenders say credit quality will be unaffected by the outcome of the holding company's public issue or the crash in share prices. However, the group has pledged a major chunk of its Ambuja Cements holdings and may have to offer fresh equity as security to foreign lenders to compensate for the share price fall. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5KVAkzi via IFTTT

Air India will on Friday seal half of an order for some 495 jets with Boeing and engine suppliers General Electric and CFM International, industry sources said, as its new owner seeks to revive the airline and compete with larger rivals. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JIEFL4u via IFTTT

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Adani Transmission Ltd tumbled 19.2% and Adani Total Gas sank 19.1% in their biggest daily drop since mid-March 2020, while Adani Green Energy sank 15.8%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YWwDt7M via IFTTT

As the company looks at sustainable mobility solutions for the coming decade, including launching six new electric vehicles by 2030, one of the ambitious programmes that it has chalked out revolves around cow dung. The effort is aimed at tackling the growing CO2 emissions from vehicles and finding new solutions to counter its growth. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Z3LdgqH via IFTTT

Among all government schemes being delivered on a mission mode, it is banking that now covers 99% households while access to gas connections has seen the sharpest increase over the last 10 years, a survey has showed. The survey by think tank People Research on India's Consumer Economy showed that between 2011 and 2021, the increase in the ownership of mobile phones has kept pace with access to banking services. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jsyVSUI via IFTTT

India's centibillionaire Gautam Adani is considering legal action against US-based Hindenburg Research over its report, accusing his group of "brazen stock manipulation and accounting fraud" that wiped nearly Rs 97,000 crore off the value of his conglomerate's shares in Wednesday's trade. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rkxDfoU via IFTTT

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The German unit of EY, formerly known as Ernst & Young, has decided to make structural changes with a focus on personnel measures and reductions of non-personnel costs, a company spokesperson told Reuters on Thursday in an emailed statement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Z1CQBie via IFTTT

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The NPG has representations from various connectivity infrastructure ministries/ departments involving their heads of network planning division for unified planning and integration of the proposals. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eNSiFbL via IFTTT

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The currency weakened around 0.7% in the first two days of the week. Traders pointed to the Reserve Bank of India likely buying dollars on Monday when the rupee scaled a high of 80.88. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xwSJDk8 via IFTTT

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Gold prices in India scaled an all-time high of Rs 57,300 per 10gm on Tuesday on the back of a 20% surge in the international rate over three months. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/erZEjY1 via IFTTT

The United States justice department sued Google on Tuesday for its dominance of the online advertising market, launching a fresh legal battle against the California-based tech giant. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Q9CgpMD via IFTTT

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In a regulatory filing on Monday, private sector lender Axis Bank reported a 62 per cent surge in profit at Rs 5,853 crore for the quarter ended December 2022, driven by increase in net interest income and decline in bad loans. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rFjJ6HR via IFTTT

Among sensex stocks, Tata Motors, HDFC Bank, HCL Tech, Asian Paints, Infosys, Bajaj Finserv, Tech Mahinrda, IndusInd Bank, Bajaj Finance, HDFC and Maruti were major gainers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0fOCmEK via IFTTT

With nominal GDP of 10.6%-11%, India's gross tax collection growth rate is likely to be around 8% in 2023/24, compared with 14.5% in the current year, due to base effect, said Gaura Sengupta, an economist at IDFC First Bank. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HvtQTbi via IFTTT

In an internal meeting, Sundar Pichai, who is CEO of Google parent Alphabet Inc, said he had consulted with the company’s founders and board in making the decision for 6% cuts. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SRp53MY via IFTTT

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