The Times Of India Business

India likely to remain fastest growing major economy: RBI governor Das

Reserve Bank Governor Shaktikanta Das on Saturday exuded confidence that India will continue to be the fastest growing major economy with a likely growth rate of 7 per cent in 2022-23 on the back of strong macroeconomic fundamentals and financial sector stability. Das said the entire world has withstood multiple shocks. "I call it triple shocks of COVID-19 pandemic, then the war in Ukraine, and now the financial market turmoil."

Inflation print for Oct likely to be lower than 7%: RBI Governor

IIP growth rebounds at 3.1% in September

Putin weaponised supply of natural gas, says Yellen

Moody’s cuts GDP forecast to 7% from 7.7%

Finance minister says India getting large investment flows

Hinduja brothers call truce on family feud

Sensex hits one year high, nears record peak of 62,000

The sensex hit a one-year high on Friday, mainly on the back of an overnight rally in the US markets, which was triggered by moderating inflation in the world’s largest economy, and closed nearly 1,200 points or 2% up at 61,795.

Rupee gains by 100 paise, records best week in 4 years

The rupee rallied by 100 paise to close at 80.81 against the dollar after the greenback weakened following lesser-than-anticipated inflation in the US. The currency opened 110 paise higher at 80.71 — the biggest gap opening in nearly a decade. It touched an intraday high of 80.

Embattled crypto exchange FTX files for bankruptcy

Embattled cryptocurrency exchange FTX, short billions of dollars, is seeking bankruptcy protection following its collapse this week.FTX Trading said in a press release Friday that CEO and founder Sam Bankman-Fried has resigned. FTX also said Bankman-Fried's Alameda Research hedge fund is among the entities filing for Chapter 11 in Delaware.

Adani Power posts Q2 net profit jumps 201.6% to Rs 696 crore

The company’s total income grew 51.5% to Rs 8,445.9 crore during the quarter, due to improved tariff realization and higher one-time income of Rs 771 crore, the company said.

CREDAI pledged net zero by 2050 at NATCON 2022 in Abu Dhabi

Against the backdrop of the on-going climate summit, COP27, the Confederation of Real Estate Developers' Associations of India (CREDAI), the apex body of private real estate developers in India, announced that it would achieve its net zero target by 2050 at its annual event NATCON 2022 at YAS Island Abu Dhabi on Friday.

LIC net profit soars to Rs 15,952 crore in September quarter

State-owned insurer LIC on Friday reported a multi-fold jump in net profit to Rs 15,952 crore in the September quarter, boosted by profits from its investments. The insurer had a net profit of Rs 1,434 crore in the year-ago period, according to a regulatory filing. Its total premium income rose to Rs 1,32,631.72 crore in the second quarter of the current fiscal from Rs 1,04,913.92 crore in the same period a year ago.

Forex kitty drops by $1.09 billion to $529.99 billion

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Hindalco Industries Q2 profit falls 35% to Rs 2,205 crore

However, the consolidated revenue from operations in the second quarter of the current fiscal increased to Rs 56,176 crore from Rs 47,665 crore in the year-ago period.

Adani Power Q2 profit at Rs 696 crore

The increase in revenue was aided by improved tariffs under long-term power purchase agreements (PPAs) on account of higher prices of imported coal as well as improved merchant/short-term tariffs due to more demand.

Industrial production grows 3.1% in September: Govt data

As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew by 1.8 per cent in September 2022.

India indispensable partner to United States, says Janet Yellen

Yellen, who is on an official visit to India, said as US President Biden said earlier this year, India is an indispensable partner to the United States.

RIL to develop multi-modal logistics park in Tamil Nadu: Govt

Reliance Industries Ltd (RIL) has been awarded the work to develop the first multi-modal logistics park (MMLP) at Mappedu in Thiruvallur district of Tamil Nadu, the government said on Friday. MMLP Chennai at Mappedu is being developed in an area of 184.27 acres.

Sensex, Nifty zoom nearly 2% amid rally in global stocks

Equity benchmarks sensex and Nifty on Friday spurted by nearly 2 per cent, propelled by heavy buying in IT, metal and financial stocks amid a rally in global markets after lower-than-expected US inflation data. A strong rupee against the US dollar and unabated foreign capital inflows further bolstered sentiment, traders said.