• Stock Market Live Updates: With the Fed indicating that it will slow down its pace of rate hikes, the stock market can expect a steady start on Thursday. After this news, Wall Street gained momentum and Asian markets are trading with gains in the morning session. Indian indices touched all-time highs on Wednesday.
The Indian economy grew by 6.3% in the July to September quarter, lower than the explosive growth of 13.5% in the previous quarter. Meanwhile, the Fed chair indicated that the Fed may raise its key interest rate modestly in December.
01 Dec 2022, 09:03:47 AM IST
Sensex flat at preopen; TCS, Adani Power, IEX, ONGC in focus today
Sensex on preopen
01 December 2022, 08:53:02 AM IST
Kotak Mahindra Asset Management on India's GDP: Second half GDP for FY23 likely to be in 4.25-4.5% range
Deepak Agarwal, Chief Investment Officer, Debt Funds, Kotak Mahindra Asset Management Company (KMAMC): Real GDP grew by 6.3% in Q2FY23, in line with the Reserve Bank of India's forecast. GDP grew by 9.7% for H1FY23. Growth in gross fixed capital formation has been strong at 15.3% in H1 and is likely to be in double digits in H2 as well.
The second half GDP for FY23 is likely to be in the 4.25-4.5% range, with the full-year forecast for FY23 growth around 7%. A reduction in government spending in the first half will support faster growth in the second half. The recent fall in crude oil prices and falling inflation expectations will continue to boost private consumption, supporting growth.
On the qualitative aspect, the share of private consumption rises to 59.2% of GDP in H1 2022-23 from 55.4% in H1 2021-22 and gross fixed capital formation from 33.1% in the previous year. was 34.7%. lining for the Indian economy
01 Dec 2022, 08:47:14 AM IST
NGT allows Hindustan Zinc's plea to treat ₹25 crore fine as CSR activity
The National Green Tribunal has accepted Hindustan Zinc Limited's plea to treat the fine of ₹25 crore deposited by it for violation of environmental norms as contribution towards Corporate Social Responsibility (CSR).
The objective of CSR is to ensure that corporates give back to the community by participating in philanthropic work.
The green panel had earlier imposed a fine of ₹25 crore on a Vedanta group firm for violating environmental norms in Rajasthan's Bhilwara district.
A bench of Chairperson Justice AK Goel noted that according to the company's counsel, the Project Proponent (PP) or Hindustan Zinc Limited (HZL) had deposited the amount and were ready to execute the remedial plan proposed by the Joint Committee of the State of Rajasthan . Pollution Control Board and Collector of Bhilwara District. (PTI)
01 Dec 2022, 08:39:19 AM IST
Digital Rupee makes retail debut on pilot basis today
The Reserve Bank of India on Tuesday announced the launch of the retail digital rupee (eRs-R) on a pilot basis on December 1. According to an RBI statement, the pilot will cover select locations in a closed user group (CUG) of participating customers and merchants. The digital rupee will be issued in the same denominations as paper currency and coins are currently issued. (read more)
01 December 2022, 08:36:59 AM IST
US job openings fell to a still higher level in October
US job opportunities eased in October but remained high, a sign that interest rate hikes by the Federal Reserve in an effort to cool the economy caused businesses to become slightly less needy for workers.
The Labor Department said Wednesday that employers posted 10.3 million job vacancies in October, down from 10.7 million in September.
Even with the decline, openings were down slightly in August, when they fell below 10.3 million before rebounding the following month.
The number of people leaving the job also came down from 41 lakh to 40 lakh in October. (PTI)
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