Economy

This resurgence in deal activity can be attributed to several factors including robust private equity (PE) operations, a notable resurgence in initial public offerings (IPOs), and a string of high-value transactions, as outlined by the 'Grant Thornton Bharat Dealtracker.'

This decision comes after a pause in the rate increase cycle that commenced in April of the previous year, following a series of six consecutive rate hikes amounting to 250 basis points since May 2022.

Providing an insight into the financial performance, the company stated, "Standalone Revenue from operations for the quarter ended (QE) March 31, 2024, stood at Rs 12,393.46 crore." Additionally, as of March 31, 2024, the total count of stores under the company's umbrella reached 365. Nevertheless, it's worth noting that the Damani-family led enterprise also cautioned that the "standalone revenue from operations for QE March 31, 2024, given above is subject to audit by the statutory auditors of the company."

The cumulative growth trajectory of this index for the eleven-month period spanning April to February of the financial year 2023-24 showcased a commendable surge of 8.2 percent over the corresponding period of the preceding year.

This upward adjustment in India's economic growth forecast to 7.5 percent for 2023-24 is attributed to the robust performance observed in both the services and industry sectors in South Asia, as highlighted in the World Bank's recent update.

This surge was predominantly fueled by a notable uptick in GST collection from domestic transactions, soaring by 17.6%. Such a surge indicates a heightened level of economic activity during the month. The GST revenue, excluding refunds, amounted to Rs 1.65 lakh crore in March, showcasing a robust growth of 18.4% compared to the corresponding period last year.

The current fiscal year saw the Indian economy achieve a growth rate of 7.6 percent, marking a significant performance.

The industrial growth rate for January remains consistent with the provisional figures reported for December 2023. However, upon further analysis, the December figures have been revised upwards to 4.2 percent, indicating a stronger performance than initially estimated.