BUSINESS
US Fed leaves interest rates unchangedUS Fed leaves interest rates unchanged
A paper on the economic projections released indicated another hike might be coming before the end of the year.
Govt to sell 4.9% stake in SJVN, share price fixed at Rs 69
The floor price has been fixed at Rs 69 per share which represents a 16 per cent discount from SJVN’s closing price of Rs 82.1 on Wednesday.
PSU stocks rally raises chances of government divestment
State freebies have already started in a big way. The fiscal performance is weak year-to-date (YTD) with tax collections 3 per cent YoY (Apr-Jul), vs budgeted 10 per cent for FY24. A slowing nominal GDP (+8 per cent in Q1) and rising oil prices / potential populist pressures will restrict tax revenue surprise.
US debt rises to $33 trillion as govt shutdown looms
Fitch sent Congress a wake up call after the debt limit fight earlier this summer. The ratings agency downgraded US sovereign debt from AAA to AA+ in August, citing the nation’s mounting debt and partisan brinkmanship as the major reasons behind its decision, CNN reported.
Govt likely to step in as tomatoes go from boom to bust
According to sources, the Consumer Affairs Ministry's price stabilisation fund (PSF) will be used to make the purchases to provide relief to the distressed farmers who have started dumping their crop as cattle feed since prices are not even covering transport costs in some areas.
Live entertainment & gaming app Eloelo raises $22 mn
The funding will be used to partner with more creators and develop new tools for them, attract more talent across tech and product, and bolster monetisation efforts, the startup said in a statement.
Nifty down 232 points as volumes on NSE close to highest in recent times
At close, Nifty was down 1.15 per cent or 231.9 points at 19901.4, while the Sensex reported a loss of 796 points, or 1.18 per cent, to settle at 66,800.84.
Domestic markets slump due to rising US bonds yields, weaker rupee
While Sensex reported a loss of 796 points, or 1.18 per cent, to settle at 66,800, Nifty closed at 19,901, down 232 points or 1.15 per cent.
Govt likely to stick to market borrowing plan for raising Rs 6.55 lakh crore
A senior official said that although revenue collections have been robust with both GST and direct tax collections showing a sharp increase in the current financial year, there is no plan, as of now, to reduce borrowing.
Licious sees flat revenues as cash burn continues in FY24: Report
According to a Moneycontrol report on Wednesday, Licious ended FY23 with a revenue of Rs 700 crore, less than half of Rs 1,500 crore that it initially projected.
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