Daily Newsletter

Daily Newsletter
12 October 2022
Markets | Companies | Banking | Economy | Opinion | Life | Management | Technology
LIVE MARKETS SENSEX 57147.32 (-843.79) NIFTY 16983.55 (-257.45) GOLD (MCX 10 GM) 51132.00 (109.00) SILVER (MCX 1 KG) 58600.00 (-502.00) USD ($) / INR(Rs) 82.66 (0.69)
Front Page IMF cuts India's FY23 GDP forecast to 6.8%, flags global inflation crisis Slashes it by 60 bps; says worst yet to come for world RBI asks banks to set aside capital, provisions for unhedged FX exposure Move comes amid sharp depreciation in rupee; says losses incurred by entities with such exposure could affect health of banking system Gujarat's Modhera village basks in the sun, awaits solar power benefits Residents of India's first solar-powered village hope for reduced bills, iconic Sun Temple gets light show boost Liquidity slips into deficit on high credit growth, festival loan demand Banks face pressure to raise deposits; weighted average call rate highest in 3 years Markets fall most in 2 weeks on rising yields; Sensex declines 844 points The Nifty ended the session at 16,983 points, with a fall of 257 points, or 1.5 per cent Start-up EV makers allege partial treatment, halt of FAME subsidies Subsidies of Rs 200-300 crore remain unpaid, said executives of various start-ups DoT summons mobile device makers, telecom companies to push 5G updates The two sides play a blame game as users' search for 5G services continues Bollywood stars, corporate bosses fire up Mumbai, Delhi luxury house mkts Experts attribute the trend to stamp duty cut by Maharashtra govt, reduction of prices by developers saddled with unsold inventory Vietnam giving India a run for its money in the China Plus-One game The smaller nation is scoring high in attracting global corporations and their suppliers Current account imbalance hits India harder than EM peers, shows data India's current account deficit is projected at 3.5 per cent for 2022, says IMF World Economic Outlook report
Companies IndiGo to operate wide body planes for first time ever in next few months Sources said that the wide-body planes, which are going to be wet leased, are likely to be used primarily on India-Istanbul routes Karnataka govt orders Ola, Uber, Rapido to stop auto services from Oct 12 The Karnataka government warned app cab aggregators that it would be imposing a fine of Rs 5,000 on vehicles found operating illegally Start-up funding nosedives by 80% in Q3 and CY22: Tracxn report The top three sectors to receive maximum funding this quarter were alternative lending, genomics and payments Tata Group has no plans to enter 5G consumer space, says N Chandrasekaran Tata Sons Chairman N Chandrasekaran on Tuesday said the conglomerate does not have any plans to have a 5G offering for consumers. He said the ... » Read More Stories in Companies
Economy & Policy PM Gati Shakti: 197 critical infra gap projects identified in last one year An inter-ministerial panel comprising senior government officials from key infrastructure ministries have given crucial recommendations to ... October rains 80% more than normal over the country; North India leads Paddy, maize, sugarcane, potato crop impacted; showers to recede now Fast-track mechanism on the cards to help Indian investors in UAE The mechanism will also assist Indian companies to foray into the UAE market and expand Govt offers 42 hydrocarbon blocks for exploration and development As many as 26 mainly offshore oil and gas blocks and 16 coal bed methane blocks have been notified for international bidding as India aims to ... » Read More Stories in Economy & Policy
Markets BSE 52-WEEK HIGH Company Price (Rs) Change (%) Aster DM Health. 248.55 -2.66 Chalet Hotels 386.15 0.64 BSE TOP GAINERS Company Price (Rs) Change (%) KRBL 388.65 4.63 Kalpataru Power 445.75 4.18 BSE 52-WEEK LOW Company Price (Rs) Change (%) Biocon 268.90 -3.08 Intellect Design 500.65 -3.60 BSE TOP LOSERS Company Price (Rs) Change (%) India Cements 244.25 -11.18 Mazagon Dock 578.45 -7.51 Tracxn Technologies' IPO bought 53% on second day of the issue The company has set a price band of Rs 75-80 per share for its IPO, which is entirely an offer for sale worth Rs 309 crore. MFs see rise in redemption pressure amid spike in inflows across categories The comparatively high growth in outflows has weighed on the net inflows in equity and hybrid schemes between June and August Sebi gives go-ahead to HSBC AMC's acquisition of L&T Investment Managers HSBC MF to subsume MF schemes being operated by L&T MF Route One Fund sells 1.54% stake in IndusInd Bank for Rs 1,401 cr US-based hedge fund Route One Fund I LP on Tuesday divested a 1.54 per cent stake in IndusInd Bank for Rs 1,401 crore through an open market ... » Read More Stories in Markets
Opinion A troubled world: IMF paints a bleak picture The growth projection for India has been lowered to 6.8 per cent for this fiscal year Ineffective implementation: Ban on single-use plastic is not working The menace of plastic pollution cannot be mitigated without ensuring plastic-product manufacturers' stringent compliance with the extended ... GST's secret sauce: Tax collections continue to surge but for how long? The 31 per cent rise in GST collections has been significantly fuelled by imports Effective directors display the art of healthy scepticism Independent directors add value to a company not only through their explicit knowledge and cognitive skills, but also through their experiential ... » Read More Stories in Opinion
Finance Life insurers' new biz premium up 17% at Rs 36,367 cr in September: Irdai The new business premium income of domestic life insurance companies rose by 17.3 per cent to Rs 36,366.53 crore in September of this fiscal ... MDs, CEOs of ARCs can't have more than 3 terms in office without a cool-off RBI allows ARCs to bid for assets in IBC cases RBI raises minimum capital requirement for setting up ARCs to Rs 300 cr The Reserve Bank on Tuesday raised the minimum capital requirement for setting up an asset reconstruction company (ARC) to Rs 300 crore from the ... RBI tightens disclosure norms on divergence in NPAs, provisions Also makes them applicable to UCBs » Read More Stories in Finance
Technology Samsung announces discounts on Galaxy Z Flip 3, Galaxy Z Fold 3 foldables Powered by Qualcomm Snapdragon 888 processor, Galaxy Z Flip3 and Galaxy Z Flip4 will be available at a discounted price of Rs 54,999 and Rs ... Acer India launches new laptop with stereoscopic 3D gaming on Oct 11 The laptop is available from Rs 3,19,999 at key retail and online stores Google launches Play Points rewards programme for users in India Users earn points when they make purchases with Google Play, including in-app items, apps, games, and subscriptions Google announces global rewards programme 'Google Play Points' in India Google Play has also partnered with developers of popular apps and games worldwide to help users redeem their points for special in-app items » Read More Stories in Technology
PF Don't let exposure to mid and small-cap funds exceed 30%: Experts They will outperform if GDP, earnings growth sustain, but global risks pose threat » Read More Stories in PF
Beyond Business High life in the death zone of the forgotten guardians of Everest Sherpas have come a long way. A new book explores the tenuous link between their lives and livelihood Why the Congress party fails Despite the inconsequence of its opinions on the national discourse, the Congress remains important. So, why does the party consciously choose ... » Read More Stories in Beyond Business
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