BUSINESS
Investments in country rose by 65% between 2014-15 and 2022-23
The government and private sector together invest in the economy, which is indicated by Gross Fixed Capital Formation (GFCF) in the Indian economy.
Investors await RBI monetary policy in the coming week
The week began on a positive note, with hopes of an end to the policy tightening era due to cooling inflation worldwide.
Musk says he doesn't care if drinking gallons of diet coke affects life
While one user said, "I love regular coke, sorry, not Elon Musk, diet coke taste too fake to me," another posted, "I've been a Diet Coke addict for twenty-five years. I'm still alive, lol!"
Centre defers import curbs on laptops, PCs till Nov 1
In a notification, issued late Friday night, the Directorate General of Foreign Trade (DGFT) announced that the restriction on import of certain category of laptops and computers will come into effect from November 1 onwards. Post November 1, no entity will be allowed to import laptops, computers, and related items without a license.
FPIs have turned sellers in Indian market after 3 months
During the last seven trading sessions FPIs sold stocks worth Rs 8,545 crore in the cash market. Sharp spike in the US 10-year bond yield above 4 per cent is a near term negative for capital flows to emerging markets, he said. During the last three months, FPIs have been sustained buyers in the Indian market having invested a cumulative amount of Rs 1,37,603 crore.
Cabinet clears telecom bill, likely to be introduced in Parliament next week
The bill proposes to enlarge the scope of telecommunication services by including OTT, Internet-based and satellite-based communication services, broadcasting, internet and broadband services within its ambit. This provision was, however, objected to by social media and technology companies, arguing that it could result in regulation of OTT communication applications.
SBI's Q1 profit zooms 178% YoY to Rs 16,884 crore
As per a regulatory filing, SBI announced that in the first quarter of FY24, it achieved a total income of Rs 108,038.83 crore (compared to Rs 74,988.57 crore in Q1FY23) and a net profit of Rs 16,844.29 crore (as opposed to Rs 6,068.08 crore).
Domestic equities gain after three days
Nifty opened gap up and moved higher to close with handsome gains of 135 points (+0.7 per cent) at 19517 levels. Action was also seen in the broader market with the Nifty midcap 100 and Nifty smallcap 100 up +0.8 per cent each.
SC dismisses OPPO’s challenge to HC order directing it to pay 23% of India sales to Nokia
A division bench of the Delhi High Court passed the order in July, after it found that the Chinese smartphone brand was using Nokia's technology without the requisite consent.
FPIs have been sellers in 6 trading sessions at Rs 7,990 cr
With the 10-year US bond yield spiking to 4.16 per cent, the FPIs may continue to sell or at least refrain from buying aggressively. The positive factor is that the DIIs are buying aggressively more than compensating for FPI selling, he said. During the last six sessions, DIIs have bought stocks for around Rs 9,000 crore.
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