BUSINESS
M&M's YoY Q3FY22 consolidated net profit up 57%
The net profit rose to Rs 1,987 crore during the quarter under review from Rs 1,268 crore in the corresponding period of the previous fiscal. Besides, the consolidated revenues rose by 9 per cent to Rs 23,594 crore in Q3FY22 from Rs 21,626 crore earned during the third quarter of FY21.
Twitter posts robust results, user growth under Parag Agrawal
The micro-blogging platform reported 217 million average mDAU (monetisable daily active users), up 13 per cent, driven by product improvements, as well as global conversation around current events.For 2021, Twitter registered over $5 billion in annual revenue, up 37 per cent for the year.
RBI risks falling behind the curve with a dovish stance continuing
Axis Mutual Fund said the call to maintain the status quo by the RBI continues to surprise market participants. In an environment where global central bankers are rushing to raise interest rates across much of the developed world and a few emerging markets, the RBI's action today stands out.
RBI's status-quo on rates, stance buoys market: Power stocks rise
Besides, the growth-oriented accommodative stance was retained to give a push to economic activity. Initially, indices opened with a marginal up-gap, but fell soon thereafter to make an intra day low. They later rose after the RBI's announcement. Globally, a tech-fuelled global stocks rally cooled in Asia on Thursday as investors took a more cautious posture amid uncertainties around the outlook for inflation and interest rates.
RBI's accommodative stance supports equities; Sensex, Nifty settle high
The RBI keeping the repo rate unchanged in its latest monetary policy meeting and maintained an accommodative stance going ahead supported the broader market indices. The RBI's Monetary Policy Committee (MPC) maintained the repo rate, or short-term lending rate, for commercial banks, at 4 per cent and stance accommodative to give a push to economic activity.
RBI proposes to raise limit on e-RUPI vouchers to Rs 1 lakh
The present cap of Rs 10,000 will be increased to Rs 1 lakh per voucher and such vouchers will be allowed to be used more than once, RBI Governor Shaktikanta Das said while announcing the latest monetary policy meeting outcome. This enhancement is expected to further facilitate the delivery of various government schemes to the beneficiaries more efficiently, he said.
'M3M Capital' clocks Rs 800 crore booking in 3-days
M3M India is offering the buyers to pay only 10 per cent on booking, nothing till possession, and even get rent post possession by the Company, subject to certain terms and conditions. Exclusive golf-courses, private foyer, green landscape, and separate yoga & meditation area, a 60,000 square feet Clubhouse are some of the major attractions of M3M Capital, which is located in sector-113 on the Dwarka Expressway Gurugram.
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.
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