BUSINESS
RBI projects India's FY23 retail inflation at 4.5%
Besides, inflation projection for 2021-22 is retained at 5.3 per cent, with Q4FY22 at 5.7 per cent on account of unfavourable base effects that are expected to ease subsequently. On Thursday, the RBI retained its key short-term lending rates during the sixth and final monetary policy review of FY22. Further, the growth-oriented accommodative stance was retained to give a push to economic activity.
India's FY23 GDP growth projected at 7.8%: RBI Guv
In a statement after the Monetary Policy Committee's bi-monthly meet, Das said the real GDP growth is projected at 17.2 per cent in Q1FY23, at 7 per cent in Q2; at 4.3 per cent in Q3 and Q4 at 4.5 per cent. On Thursday, RBI retained its key short-term lending rates during the sixth and final monetary policy review of FY22.
Monetary Support: RBI's MPC retains rates, accommodative stance
Besides, the growth-oriented accommodative stance was retained to give a push to economic activity. Accordingly, the Monetary Policy Committee (MPC) of the central bank maintained the repo rate, or short-term lending rate, for commercial banks, at 4 per cent.
Indian equities extend gains; Sensex rises over 200 pts
At 10.25 a.m., Sensex traded at 58,669 points, up 0.4 per cent or 203 points from the previous close, Nifty traded at 17,533 points, up 0.4 per cent or 70 points from the previous close.
Brexit hits British business with 'increased costs, paperwork and border delays': report
In a hard-hitting report, the House of Commons Public Accounts Committee (PAC) on Wednesday said there has been a clear increase in costs, paperwork and border delays for British business since Britain left the European Union (EU), Xinhua news agency reported. "It has not helped by repeated delays to a new import regime," the Committee added.
Russia's GDP grows 4.6% in 2021
In December, the GDP growth stayed at a stellar level of 4.3 percent year-on-year despite a high base, the Ministry said on Wednesday in a statement. A dynamic manufacturing sector and industries focused on consumer demand mainly contributed to the economic recovery in 2021, it added.
Nuclear energy share in power generation to be increased: Govt
The share of nuclear power in the total electricity generation is planned to be increased by adding more nuclear power capacity in the country, Union Atomic Energy and Space Minister, Dr Jitendra Singh said.
Nykaa's consolidated net profits down 58% YoY in Q3FY22
In the same quarter of the previous fiscal, the net profits were at Rs 68.9 crore, it said in a statement. However, revenue from operation rose 36 per cent during the quarter to Rs 1,098 crore, as against Rs 808 crore reported in the same quarter previous fiscal. The company's EBITDA fell 36 per cent to 69 crore, as against Rs 107 crore in the same period of the corresponding fiscal.
I-T raids hoteliers in Rs 100 cr tax evasion case
The raids were conducted at the office and other premises of VDM Hospitality Private Ltd, including of its Directors Deepak Saini, Monika Saini, Vinod Saini, and Sarthak Saini and two more companies which are into hotel and resort business. All the companies have their offices in the NCR.
Equity settles sharply high; Nifty auto, metal, media indices rise (Ld)
Sensex settled at 58,466 points, up 1.1 per cent or 657 points from the previous close. Nifty settled at 17,464 points, up 1.1 per cent or 197 points from its previous close. Barring Nifty PSU bank and oil & gas, all sectoral indices traded in the green on Wednesday.
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