The International Monetary Fund (IMF) on Tuesday slashed India’s economic growth forecast to 8.2% for FY23 from 9% estimated in January, citing the impact of high oil prices on consumer demand and private investments.
In its World Economic Outlook report, the multilateral agency recommended monetary tightening by central banks to keep inflationary expectations in check amid global supply disruptions caused by the war in Ukraine.
Jio Fiber postpaid users to get OTT subscriptions for Rs 100-200 per month; users can get access to up to 14 OTT apps. Reliance Brands Ltd. has also signed a deal to take a majority stake in ‘Abu Jani Sandeep Khosla’ to accelerate the couture house’s growth plans.
Punjab and Sind Bank has classified SREI Infrastructure Finance and SREI Equipment Finance as fraud accounts with loan exposure worth Rs 510.16 crore and Rs 724.18 crore, respectively. The accounts have been declared as fraud to the Reserve Bank of India and have been fully provided for. Escorts: The company’s agri-machinery division will increase prices of its tractors due to a steady rise in commodity prices. The rise is effective April 20 and will vary across models and variants. VRL Logistics: The company has decided to sell wind power undertaking as a going concern on a slump sale basis to Ratna Cements (Yadawad). It has has signed a memorandum of understanding for the transaction. The project comprises 32 wind turbine generators with a capacity of 40 megawatt.Moving on to markets
The key benchmark indices are likely to start Wednesday’ session on a mildly positive note after closing the previous session lower for a fifth day.
As per trends indicated by the SGX Nifty futures, which were quoting at 17,022 around 8 am, the Nifty may open with a gain of 50-odd points.
Asian markets were mixed and U.S. equity futures retreated Wednesday amid high inflation, a hawkish U.S. Federal Reserve and China’s pandemic challenges.Business term of the day
A slump sale, also referred to as a business transfer, is the transfer of a business undertaking as a whole, on a ‘going concern’ basis, wherein the acquirer wants to acquire the whole setup of a business undertaking along with all assets and liabilities of the target company but, without acquiring the target company which houses the business.
In this episode, find out about HDFC bank’s dividend to its shareholders for FY22, also find out why Indian markets will have a negative opening. Business Term of the Day: Index Read more
In this episode, find out about HDFC bank’s dividend to its shareholders for FY22, also find out why Indian markets will have a negative opening. Business Term of the Day: Index Read more
In this episode, find out about MuSigma Dhiraj Rajaram’s plans to raise debt to buy out Sequioa, also find out why Indian markets are likely to remain weak on global cues. Busines ... Read more
In this episode, find out about MuSigma Dhiraj Rajaram’s plans to raise debt to buy out Sequioa, also find out why Indian markets are likely to remain weak on global cues. Business Term of the Day: Net interest margins (NIM) Read more
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In this episode, find out about Future group shareholders' vote on the deal with RIL, also find out about Tata Steel's plans to exit Russia. Business Term of the Day: ESOPs Read more
In this episode, find out about L&T's plans to merge Mindtree and L&T Toubro Infotech, also find out about SBI’s move to hike the lending rate after 3 years Business Term ... Read more
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In this episode, find out about Holcim Group’s plans to exit the India cement business, also find out why auto output fell to levels seen 5 years ago Business Term of the Day: Do ... Read more
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In this episode, find out about Fino Payments Bank’s move to buy minority stake in PaySprint, also find out why Indian markets will open on a flat note Business Term of the Day: ... Read more
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In this episode, find out about TRAI’s decision to cut base price by 36%, also find out Zee Entertainment’s plans for its movie production business this year Business Term of the ... Read more
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In this episode, find out about Godrej Group’s plan to launch its NBFC business, also find out about Vodafone Idea’s fund raising talk with Apollo Global For $1 bn Business Term o ... Read more
In this episode, find out about Godrej Group’s plan to launch its NBFC business, also find out about Vodafone Idea’s fund raising talk with Apollo Global For $1 bn Business Term of the Day: Fixed income Read more
In this episode, find out why M&M has terminated its decision to sell Ssang Yong Motor, also find out why Flipkart has raised its internal IPO valuation to $60-70 bn. Business ... Read more
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