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IndiaTV Business: Google News Feed: Digest for July 26, 2023

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HDFC Bank expects 17-18% credit growth this year

Sunday 23 July 2023 09:28 AM UTC+00
Country's biggest private sector lender HDFC Bank expects 17-18 per cent loan growth during the current financial year as there is enough credit demand. Effective July 1, the parent mortgage firm HDFC Ltd merged with its subsidiary HDFC Bank making it the second biggest lender after State Bank of India. During the first quarter, the total advances of the bank rose by 15.8 per cent to Rs 16.15 lakh crore.
When Meta launched Threads, it was billed as a 'Twitter-killer' as 100 million signed up within days of launch. But just like other rivals to Twitter, Threads seems to be losing traction. New data apps tracking firm Sensor Tower indicates the hype has died down and Threads has seen a 20 per cent decrease in active users and a 50 per cent reduction in time spent on the app, from 20 minutes to 10 minutes.
Electric vehicles news: Electric vehicles (EVs) constitute a miniscule 0.8 per cent of the total number of vehicles registered in the country, despite the government pushing for greener vehicles since 2015. According to an official data, out of the total slightly over 34 crore vehicles registered with road transport ministry's e-vahan portal, as on July 14, 2023, only over 27 lakh vehicles were registered as electrical vehicles.
Go First: The airline company on Sunday announced the cancellation of all of its flights till July 25. According to the notification, the flights have been cancelled due to operational reasons. "We regret to inform that due to operational reasons, Go First flights scheduled till 25th July 2023 have been cancelled. We apologise for the inconvenience caused by the flight cancellations. We acknowledge the flight cancellations might have disrupted your travel plans and we are committed to providing all the assistance we can. As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume bookings shortly. We thank you for your patience, the airline company said in an notification. 
Stock markets: Dragged down by index heavyweight Reliance Industries after the company missed street estimates due to weak performance in oil-to-chemicals (O2C) business, equity benchmark indices declined in early trade on Monday, extending corrections from their lifetime peaks for the second consecutive session. 
Yes Bank shares on Monday witnessed heavy sell-off pressure at higher levels in morning trade on the bourses after the private lender reported a 10 per cent rise in net profit to Rs 343 crore in the June quarter. Shares of Yes Bank opened on a positive note and touched an early high of Rs 18.44 apiece on the BSE, registering a gain of 2.10 per cent over its previous close.
Bank Holidays in August 2023: Including weekends, the banks in India will remain shut for 14 days in August 2023. As per the holiday calendar of the Reserve Bank of India (RBI) banks will be closed on various festivals and special occasions that are lined up next month like Raksha Bandhan, Independence Day, Tendong Lho Rum Faat, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam and more.
The Centre has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23.
Finance Minister Nirmala Sitharaman on Monday addressed the 164th Income Tax Day event in Delhi. While addressing the public event, she asserted in the last three, or four years, to the credit of the Central Board of Direct Taxation (CBDT), tax rates did not go up, but revenue is steadily going up. 
Heavy electrical equipment make GG Engineering has strong set of numbers in the first quarter of financial year 20023-24. According to a BSE filing, its bottomline was boosted by higher revenues. The company's revenue in Q1FY24 grew by a whopping 143 per cent to Rs 18.9 crore year-on-year basis. The same stood at Rs 7.7 crore in the corresponding quarter of last financial year.
Electric vehicles news: Electric vehicles (EVs) constitute a miniscule 0.8 per cent of the total number of vehicles registered in the country, despite the government pushing for greener vehicles since 2015. According to an official data, out of the total slightly over 34 crore vehicles registered with road transport ministry's e-vahan portal, as on July 14, 2023, only over 27 lakh vehicles were registered as electrical vehicles.
Go First: The airline company on Sunday announced the cancellation of all of its flights till July 25. According to the notification, the flights have been cancelled due to operational reasons. "We regret to inform that due to operational reasons, Go First flights scheduled till 25th July 2023 have been cancelled. We apologise for the inconvenience caused by the flight cancellations. We acknowledge the flight cancellations might have disrupted your travel plans and we are committed to providing all the assistance we can. As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume bookings shortly. We thank you for your patience, the airline company said in an notification. 
Stock markets: Dragged down by index heavyweight Reliance Industries after the company missed street estimates due to weak performance in oil-to-chemicals (O2C) business, equity benchmark indices declined in early trade on Monday, extending corrections from their lifetime peaks for the second consecutive session. 
Yes Bank shares on Monday witnessed heavy sell-off pressure at higher levels in morning trade on the bourses after the private lender reported a 10 per cent rise in net profit to Rs 343 crore in the June quarter. Shares of Yes Bank opened on a positive note and touched an early high of Rs 18.44 apiece on the BSE, registering a gain of 2.10 per cent over its previous close.
Bank Holidays in August 2023: Including weekends, the banks in India will remain shut for 14 days in August 2023. As per the holiday calendar of the Reserve Bank of India (RBI) banks will be closed on various festivals and special occasions that are lined up next month like Raksha Bandhan, Independence Day, Tendong Lho Rum Faat, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam and more.
The Centre has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23.
Finance Minister Nirmala Sitharaman on Monday addressed the 164th Income Tax Day event in Delhi. While addressing the public event, she asserted in the last three, or four years, to the credit of the Central Board of Direct Taxation (CBDT), tax rates did not go up, but revenue is steadily going up. 
Heavy electrical equipment make GG Engineering has strong set of numbers in the first quarter of financial year 20023-24. According to a BSE filing, its bottomline was boosted by higher revenues. The company's revenue in Q1FY24 grew by a whopping 143 per cent to Rs 18.9 crore year-on-year basis. The same stood at Rs 7.7 crore in the corresponding quarter of last financial year.
Solar products manufacturer Servotech Power Systems has posted strong numbers in the first quarter of financial year 2023-24. The clean energy solutions provider has reported a manifold jump in its consolidated net profit in the quarter ended June
Reliance Industries Limited (RIL) has joined hands with Brookfield Infrastructure Partners Lp and Digital Realty Trust Inc. in a three-manner venture for setting up special purpose vehicles (SPVs) pointed toward creating server farms in India. RIL will hold a 33.33% stake in the SPVs, a joint statement by the three partners said. Digital Realty Trust is the biggest supplier of Cloud and carrier-neutral data centre, co-area and interconnection solutions internationally with 300+ data centres across 27 nations.
Go First: The airline company on Sunday announced the cancellation of all of its flights till July 25. According to the notification, the flights have been cancelled due to operational reasons. "We regret to inform that due to operational reasons, Go First flights scheduled till 25th July 2023 have been cancelled. We apologise for the inconvenience caused by the flight cancellations. We acknowledge the flight cancellations might have disrupted your travel plans and we are committed to providing all the assistance we can. As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume bookings shortly. We thank you for your patience, the airline company said in an notification. 
Stock markets: Dragged down by index heavyweight Reliance Industries after the company missed street estimates due to weak performance in oil-to-chemicals (O2C) business, equity benchmark indices declined in early trade on Monday, extending corrections from their lifetime peaks for the second consecutive session. 
Yes Bank shares on Monday witnessed heavy sell-off pressure at higher levels in morning trade on the bourses after the private lender reported a 10 per cent rise in net profit to Rs 343 crore in the June quarter. Shares of Yes Bank opened on a positive note and touched an early high of Rs 18.44 apiece on the BSE, registering a gain of 2.10 per cent over its previous close.
Bank Holidays in August 2023: Including weekends, the banks in India will remain shut for 14 days in August 2023. As per the holiday calendar of the Reserve Bank of India (RBI) banks will be closed on various festivals and special occasions that are lined up next month like Raksha Bandhan, Independence Day, Tendong Lho Rum Faat, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam and more.
The Centre has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23.
Finance Minister Nirmala Sitharaman on Monday addressed the 164th Income Tax Day event in Delhi. While addressing the public event, she asserted in the last three, or four years, to the credit of the Central Board of Direct Taxation (CBDT), tax rates did not go up, but revenue is steadily going up. 
Heavy electrical equipment make GG Engineering has strong set of numbers in the first quarter of financial year 20023-24. According to a BSE filing, its bottomline was boosted by higher revenues. The company's revenue in Q1FY24 grew by a whopping 143 per cent to Rs 18.9 crore year-on-year basis. The same stood at Rs 7.7 crore in the corresponding quarter of last financial year.
Solar products manufacturer Servotech Power Systems has posted strong numbers in the first quarter of financial year 2023-24. The clean energy solutions provider has reported a manifold jump in its consolidated net profit in the quarter ended June
Reliance Industries Limited (RIL) has joined hands with Brookfield Infrastructure Partners Lp and Digital Realty Trust Inc. in a three-manner venture for setting up special purpose vehicles (SPVs) pointed toward creating server farms in India. RIL will hold a 33.33% stake in the SPVs, a joint statement by the three partners said. Digital Realty Trust is the biggest supplier of Cloud and carrier-neutral data centre, co-area and interconnection solutions internationally with 300+ data centres across 27 nations.
Stock markets: As investors remained on the sidelines ahead of the Federal Reserve rate decision and busy week of corporate earnings, equity benchmark indices Sensex and Nifty opened on a flat note in early trade on Tuesday. Foreign fund outflows and surging crude oil prices also weighed on sentiments.
Go First: The airline company on Sunday announced the cancellation of all of its flights till July 25. According to the notification, the flights have been cancelled due to operational reasons. "We regret to inform that due to operational reasons, Go First flights scheduled till 25th July 2023 have been cancelled. We apologise for the inconvenience caused by the flight cancellations. We acknowledge the flight cancellations might have disrupted your travel plans and we are committed to providing all the assistance we can. As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume bookings shortly. We thank you for your patience, the airline company said in an notification. 
Stock markets: Dragged down by index heavyweight Reliance Industries after the company missed street estimates due to weak performance in oil-to-chemicals (O2C) business, equity benchmark indices declined in early trade on Monday, extending corrections from their lifetime peaks for the second consecutive session. 
Yes Bank shares on Monday witnessed heavy sell-off pressure at higher levels in morning trade on the bourses after the private lender reported a 10 per cent rise in net profit to Rs 343 crore in the June quarter. Shares of Yes Bank opened on a positive note and touched an early high of Rs 18.44 apiece on the BSE, registering a gain of 2.10 per cent over its previous close.
Bank Holidays in August 2023: Including weekends, the banks in India will remain shut for 14 days in August 2023. As per the holiday calendar of the Reserve Bank of India (RBI) banks will be closed on various festivals and special occasions that are lined up next month like Raksha Bandhan, Independence Day, Tendong Lho Rum Faat, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam and more.
The Centre has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23.
Finance Minister Nirmala Sitharaman on Monday addressed the 164th Income Tax Day event in Delhi. While addressing the public event, she asserted in the last three, or four years, to the credit of the Central Board of Direct Taxation (CBDT), tax rates did not go up, but revenue is steadily going up. 
Heavy electrical equipment make GG Engineering has strong set of numbers in the first quarter of financial year 20023-24. According to a BSE filing, its bottomline was boosted by higher revenues. The company's revenue in Q1FY24 grew by a whopping 143 per cent to Rs 18.9 crore year-on-year basis. The same stood at Rs 7.7 crore in the corresponding quarter of last financial year.
Solar products manufacturer Servotech Power Systems has posted strong numbers in the first quarter of financial year 2023-24. The clean energy solutions provider has reported a manifold jump in its consolidated net profit in the quarter ended June
Reliance Industries Limited (RIL) has joined hands with Brookfield Infrastructure Partners Lp and Digital Realty Trust Inc. in a three-manner venture for setting up special purpose vehicles (SPVs) pointed toward creating server farms in India. RIL will hold a 33.33% stake in the SPVs, a joint statement by the three partners said. Digital Realty Trust is the biggest supplier of Cloud and carrier-neutral data centre, co-area and interconnection solutions internationally with 300+ data centres across 27 nations.
Stock markets: As investors remained on the sidelines ahead of the Federal Reserve rate decision and busy week of corporate earnings, equity benchmark indices Sensex and Nifty opened on a flat note in early trade on Tuesday. Foreign fund outflows and surging crude oil prices also weighed on sentiments.
Stock markets: Dragged down by index heavyweight Reliance Industries after the company missed street estimates due to weak performance in oil-to-chemicals (O2C) business, equity benchmark indices declined in early trade on Monday, extending corrections from their lifetime peaks for the second consecutive session. 
Yes Bank shares on Monday witnessed heavy sell-off pressure at higher levels in morning trade on the bourses after the private lender reported a 10 per cent rise in net profit to Rs 343 crore in the June quarter. Shares of Yes Bank opened on a positive note and touched an early high of Rs 18.44 apiece on the BSE, registering a gain of 2.10 per cent over its previous close.
Bank Holidays in August 2023: Including weekends, the banks in India will remain shut for 14 days in August 2023. As per the holiday calendar of the Reserve Bank of India (RBI) banks will be closed on various festivals and special occasions that are lined up next month like Raksha Bandhan, Independence Day, Tendong Lho Rum Faat, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam and more.
The Centre has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23.
Finance Minister Nirmala Sitharaman on Monday addressed the 164th Income Tax Day event in Delhi. While addressing the public event, she asserted in the last three, or four years, to the credit of the Central Board of Direct Taxation (CBDT), tax rates did not go up, but revenue is steadily going up. 
Heavy electrical equipment make GG Engineering has strong set of numbers in the first quarter of financial year 20023-24. According to a BSE filing, its bottomline was boosted by higher revenues. The company's revenue in Q1FY24 grew by a whopping 143 per cent to Rs 18.9 crore year-on-year basis. The same stood at Rs 7.7 crore in the corresponding quarter of last financial year.
Solar products manufacturer Servotech Power Systems has posted strong numbers in the first quarter of financial year 2023-24. The clean energy solutions provider has reported a manifold jump in its consolidated net profit in the quarter ended June
Reliance Industries Limited (RIL) has joined hands with Brookfield Infrastructure Partners Lp and Digital Realty Trust Inc. in a three-manner venture for setting up special purpose vehicles (SPVs) pointed toward creating server farms in India. RIL will hold a 33.33% stake in the SPVs, a joint statement by the three partners said. Digital Realty Trust is the biggest supplier of Cloud and carrier-neutral data centre, co-area and interconnection solutions internationally with 300+ data centres across 27 nations.
Stock markets: As investors remained on the sidelines ahead of the Federal Reserve rate decision and busy week of corporate earnings, equity benchmark indices Sensex and Nifty opened on a flat note in early trade on Tuesday. Foreign fund outflows and surging crude oil prices also weighed on sentiments.
The Government of India has recently announced a ban on the export of non-basmati white rice with immediate effect to stabilise the volatile retail prices in the country. The move has raised concerns in countries in Africa, Asia and even the United States and food prices have started to see a rise globally.
Bank Holidays in August 2023: Including weekends, the banks in India will remain shut for 14 days in August 2023. As per the holiday calendar of the Reserve Bank of India (RBI) banks will be closed on various festivals and special occasions that are lined up next month like Raksha Bandhan, Independence Day, Tendong Lho Rum Faat, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam and more.
The Centre has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23.
Finance Minister Nirmala Sitharaman on Monday addressed the 164th Income Tax Day event in Delhi. While addressing the public event, she asserted in the last three, or four years, to the credit of the Central Board of Direct Taxation (CBDT), tax rates did not go up, but revenue is steadily going up. 
Heavy electrical equipment make GG Engineering has strong set of numbers in the first quarter of financial year 20023-24. According to a BSE filing, its bottomline was boosted by higher revenues. The company's revenue in Q1FY24 grew by a whopping 143 per cent to Rs 18.9 crore year-on-year basis. The same stood at Rs 7.7 crore in the corresponding quarter of last financial year.
Solar products manufacturer Servotech Power Systems has posted strong numbers in the first quarter of financial year 2023-24. The clean energy solutions provider has reported a manifold jump in its consolidated net profit in the quarter ended June
Reliance Industries Limited (RIL) has joined hands with Brookfield Infrastructure Partners Lp and Digital Realty Trust Inc. in a three-manner venture for setting up special purpose vehicles (SPVs) pointed toward creating server farms in India. RIL will hold a 33.33% stake in the SPVs, a joint statement by the three partners said. Digital Realty Trust is the biggest supplier of Cloud and carrier-neutral data centre, co-area and interconnection solutions internationally with 300+ data centres across 27 nations.
Stock markets: As investors remained on the sidelines ahead of the Federal Reserve rate decision and busy week of corporate earnings, equity benchmark indices Sensex and Nifty opened on a flat note in early trade on Tuesday. Foreign fund outflows and surging crude oil prices also weighed on sentiments.
The Government of India has recently announced a ban on the export of non-basmati white rice with immediate effect to stabilise the volatile retail prices in the country. The move has raised concerns in countries in Africa, Asia and even the United States and food prices have started to see a rise globally.
Growth in India is projected at 6.1 per cent in 2023, a 0.2 percentage point upward revision compared with the April projection, reflecting momentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment, said IMF's World Economic Outlook Growth Projections on Tuesday.

Adani Group shares jump, adds Rs 50,501 crore in a day

Tuesday 25 July 2023 03:32 PM UTC+00
Billionaire Gautam Adani's ports to power conglomerate added over Rs 50,501 crore in market capitalisation in a single day on Tuesday as shares of all the 10 listed group companies surged on renewed interest from domestic investors. The overall market capitalisation of the 10 Adani Group companies stood at over Rs 10.6 lakh crore at the end of trading on Tuesday on the BSE, up Rs 10,501.26 crore over an m-cap of around Rs 10.1 lakh crore on the previous year, stock exchange data showed. Market experts attribute the reasons for the rise in stock prices to an increase in interest from domestic investors.
Bank Holidays in August 2023: Including weekends, the banks in India will remain shut for 14 days in August 2023. As per the holiday calendar of the Reserve Bank of India (RBI) banks will be closed on various festivals and special occasions that are lined up next month like Raksha Bandhan, Independence Day, Tendong Lho Rum Faat, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam and more.
The Centre has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23.
Finance Minister Nirmala Sitharaman on Monday addressed the 164th Income Tax Day event in Delhi. While addressing the public event, she asserted in the last three, or four years, to the credit of the Central Board of Direct Taxation (CBDT), tax rates did not go up, but revenue is steadily going up. 
Heavy electrical equipment make GG Engineering has strong set of numbers in the first quarter of financial year 20023-24. According to a BSE filing, its bottomline was boosted by higher revenues. The company's revenue in Q1FY24 grew by a whopping 143 per cent to Rs 18.9 crore year-on-year basis. The same stood at Rs 7.7 crore in the corresponding quarter of last financial year.
Solar products manufacturer Servotech Power Systems has posted strong numbers in the first quarter of financial year 2023-24. The clean energy solutions provider has reported a manifold jump in its consolidated net profit in the quarter ended June
Reliance Industries Limited (RIL) has joined hands with Brookfield Infrastructure Partners Lp and Digital Realty Trust Inc. in a three-manner venture for setting up special purpose vehicles (SPVs) pointed toward creating server farms in India. RIL will hold a 33.33% stake in the SPVs, a joint statement by the three partners said. Digital Realty Trust is the biggest supplier of Cloud and carrier-neutral data centre, co-area and interconnection solutions internationally with 300+ data centres across 27 nations.
Stock markets: As investors remained on the sidelines ahead of the Federal Reserve rate decision and busy week of corporate earnings, equity benchmark indices Sensex and Nifty opened on a flat note in early trade on Tuesday. Foreign fund outflows and surging crude oil prices also weighed on sentiments.
The Government of India has recently announced a ban on the export of non-basmati white rice with immediate effect to stabilise the volatile retail prices in the country. The move has raised concerns in countries in Africa, Asia and even the United States and food prices have started to see a rise globally.
Growth in India is projected at 6.1 per cent in 2023, a 0.2 percentage point upward revision compared with the April projection, reflecting momentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment, said IMF's World Economic Outlook Growth Projections on Tuesday.

Adani Group shares jump, adds Rs 50,501 crore in a day

Tuesday 25 July 2023 03:32 PM UTC+00
Billionaire Gautam Adani's ports to power conglomerate added over Rs 50,501 crore in market capitalisation in a single day on Tuesday as shares of all the 10 listed group companies surged on renewed interest from domestic investors. The overall market capitalisation of the 10 Adani Group companies stood at over Rs 10.6 lakh crore at the end of trading on Tuesday on the BSE, up Rs 10,501.26 crore over an m-cap of around Rs 10.1 lakh crore on the previous year, stock exchange data showed. Market experts attribute the reasons for the rise in stock prices to an increase in interest from domestic investors.
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