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RBI Retains Repo Rate at 6.5%, GDP Growth at 7%, Inflation at 5.4%

As predicted by economists, the Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.5 per cent.Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta Das said on Friday that the committee...
RBI Retains Repo Rate at 6.5%

As predicted by economists, the Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.50 per cent.Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta Das said on Friday that the committee...
India Inc Needs to Invest More Instead of Sitting on Funds: CEA Nageswaran

India's corporate sector needs to invest more to make a comeback for rebalancing the country's economy towards investment and manufacturing, the government's Chief Economic Advisor (CEA) V. Anantha Nageswaran said on Thursday.Speaking at apex business chamber CII's Global...
IBA Inks Agreement with Unions; Bank Staff Pay to Increase by 17%

For the employees of public sector banks (PSBs), 2023 ends on a happy note as the Indian Banks' Association (IBA) on Thursday inked a 17 per cent annual wage hike agreement with bank unions.The wage revision will be effective from 1.11.2022 for a period of five years.The...
Govt Going for Vote on Account on Feb 1, No Big Bang Announcements: Sitharaman

Finance Minister Nirmala Sitharaman has said that the upcoming Union Budget on February 1, 2024 to be presented in Parliament ahead of the Lok Sabha elections will not be a regular budget but only a vote on account so the government is not likely to make any "spectacular...
India Has Zero Tolerance Policy towards Deepfakes: MoS IT

As AI-driven deepfakes continue to alarm lawmakers around the world, the Indian government has stressed it has a zero tolerance policy towards any online information which is patently false, misinformation and against national security.Responding to a question in Lok Sabha,...
Low Quality Small and Midcap Stocks in Bubble Zone

Weak (low growth plus low quality) mid Caps and small Caps are in bubble zone and caution is advised. Strong (high growth plus high quality) Mid Caps and Small Caps present an opportunity for long term investors, says Vinay Paharia, CIO, PGIM India Mutual Fund in a...
SpiceJet Mulling Equity Raise Amidst Financial Turbulence, Board Meeting on Dec 11

SpiceJet will deliberate on raising fresh capital through the issue of equity shares in its Board meeting on December 11, according to a stock exchange filing."This is to inform you that the Board of Directors of the Company in its meeting scheduled on December 11, 2023...
Jack Dorsey's Tidal Lays off over 10% of Workforce

Music streaming platform Tidal has laid off more than 10 per cent of its workforce, or about 40 employees.The majority of the company is owned by tech billionaire Jack Dorsey-led digital payments company Block.Tidal's layoffs are part of Block's declared goal of limiting...
Apple Joins AI Race with Releasing Model Framework for Its Silicon Chips

As artificial intelligence (AI) takes centre-stage across companies, Apple's machine learning research team has released frameworks and model libraries designed to run on its silicon chips.The company released MLX, a machine learning framework designed for efficient and...
NFRA Debars Two CAs for Lapses in DHFL Audit

The National Financial Reporting Authority (NFRA) has debarred two statutory auditors of erstwhile Dewan Housing Finance Corporation Ltd (DHFL) for 10 years and five years respectively, and imposed fines on them for professional misconduct in the discharge of their audit...
Hero MotoCorp, Ather Energy Join Hands for 1st-ever Interoperable Fast-charging Network

Hero MotoCorp and electric vehicle manufacturer Ather Energy on Wednesday entered into a partnership for an interoperable fast-charging network in the country, touted as the first-ever interoperable fast-charging network for EV two-wheelers anywhere in the world.Through the...
Musk's AI Company Seeks to Raise $1 BN in Investments

Elon Musk's AI company called xAI is seeking to raise up to $1 billion in equity investments.According to a filing with the US Securities and Exchange Commission (SEC), the Tesla and SpaceX CEO has raised $134.7 million so far for xAI.The $135 million came from four unnamed...
Dubai-bound SpiceJet Flight Diverted to Karachi after Passenger Suffers Suspected Heart Attack

A SpiceJet flight to Dubai from Ahmedabad was diverted to Karachi in Pakistan after a passenger suffered a "suspected heart attack" on Tuesday night."On December 5, SpiceJet Boeing 737 aircraft operating flight SG-15 (Ahmedabad-Dubai) was diverted to Karachi due to a...
Adani Group Stocks in Massive Rally after Reports That US Govt Examined Hindenburg Allegations before Giving $553 MN Loan

Adani Group stocks were top gainers on Tuesday after Bloomberg reported that the US government concluded that short-seller Hindenburg Research's allegations of corporate fraud against Indian billionaire Gautam Adani weren't relevant before extending his conglomerate as much...
Small & Midcaps Outperform Nifty in 2023

Mid and small caps outperformed largecaps and have risen 36 per cent and 46 per cent, respectively, versus the 11 per cent rise for the Nifty in calendar year 2023, as per a report by Motilal Oswal Financial Services.Midcaps/Smallcaps outperformed largecaps by 4.9 per...
BlackRock's Stake in Suzlon Rises above 5%

Investment firm BlackRock Inc.'s equity holding in renewable energy company Suzlon Energy has moved above the 5 per cent level with the acquisition of about 24.73 lakh fresh equity shares in the company, Good Returns reported."The aggregate holdings of BlackRock, Inc. (on...
Outcome of State Election Results Hints at Continued Uprun in Market

The outcome of state election results hints towards continued uprun in the market, Dhiraj Relli, MD & CEO at HDFC Securities, said on Monday.While part of the outcome was discounted in advance, there is a scope for a further upmove, discounting the positive surprises coming...
Now, IndiGo Faces Criticism over Delays from Former Union Minister

Congress MP and former Union Minister Manish Tewar, on Sunday expressed frustration over repeated delays in IndiGo flightsTewari, who has taken three IndiGo flights in the past week, highlighted the latest incident involving flight 6E2159 from Chandigarh to Delhi, delayed...
'Toughen Up': Indian-origin Billionaire Backs Narayana Murthy's 70-HR Work Week Advice

Indian-American businessman and co-founder of Sun Microsystems, Vinod Khosla has backed Infosys founder NR Narayana Murthy's suggestion that India's youth must work 70 hours every week to improve the country's overall work productivity.Responding to a question by a user on...
NIFTY at New Lifetime Highs, BSE SENSEX to Follow

It was a shortened week at the bourses with Monday being a trading holiday. Markets gained on three of the four trading sessions and lost on one. Sharp gains were registered on Wednesday and were followed up with a strong opening day of December series as well on Friday.The...
AWS GenAI Models Safe from Harmful, Bias Content: Swami Sivasubramanian

Amazon is taking all the necessary steps to make sure that its generative AI models are constantly monitored for any toxicity and bias so that future AI models can be built in a safe and responsible manner, says Swami Sivasubramanian, Vice President of Database, Analytics,...
With India's Market Cap to GDP Ratio Climbing to 1.2, Valuations Getting Stretched

With India's market cap touching $4 trillion and the market cap GDP ratio climbing to 1.2, valuations are getting stretched, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. But in the short run, the market is likely to move ahead of...
RR Kabel Shares Slip after I-T Search at Offices, Factories

Shares of R R Kabel are trading in the red on Thursday after Income Tax searches at its offices and factories.Shares of R R Kabel are down more than 1 per cent at Rs 1,622 on BSE.The company said that the Income Tax Department was conducting a search at some of the offices...
5G Mobile Subscriptions in India to Reach 130 MN in 2023

5G subscriptions in India are expected to reach 130 million in 2023, and are estimated to grow to 860 million by 2029, a new report showed on Thursday.5G subscriptions are estimated to account for 68 per cent of mobile subscriptions in India by the end of 2029, according to...