The RBI revised upwards real GDP growth forecast for FY24 to 7% from 6.5% earlier.
Sebi in July, sent a notice to Yes Bank former MD and CEO Rana Kapoor asking him to pay Rs 2.22 crore in a case of misselling the private sector lender’s Additional Tier-1 (AT1) bonds and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days.
A strong rally in IT shares Infosys, TCS, Wipro and HCL Tech after better than expected Q3 results helped the indices scale new record high levels. Oil & gas and energy sector shares also boosted the rally.
Shares of IndusInd Bank climbed nearly 4 per cent on Wednesday morning after the company reported a 30 per cent jump in its consolidated net profit in the April-June quarter.
Asian Paints on Thursday reported a smaller-than-expected jump in second-quarter profit, hurt by muted sales.
The 30-share BSE Sensex jumped 475.88 points to 71,913.07 — its all-time peak — in early trade. The Nifty climbed 138.8 points to reach its record high of 21,591.90.
India’s crude steel production rose 14.7 per cent to 69.65 million tonne (MT) during April-September period of 2023-24 fiscal year, according to SteelMint India.
The benchmark Sensex and Nifty gained around 18.74 per cent and 20.03 per cent during the 2023 calendar year.
Some IPL franchise owners have gone on to buy teams in T20 leagues in the United Arab Emirates, South Africa, West Indies and the United States.
For July, inflation is likely to rise in the range of 6-6.8 per cent from 4.81 per cent in June. Some economists believe that the RBI will revise its FY2024 CPI inflation projection upwards.