Auto Sector

Employees Await Pay Raises Amidst Economic Uncertainty

The strong response from investors during the initial hours of the IPO indicates the market's positive reception towards Utkarsh Small Finance Bank's offering.

Brent futures were down 4 cents at $79.36 per barrel, while West Texas Intermediate (WTI) oil prices were down 1 cent at $74.82.

It is anticipated that core consumer prices increased 5% annually in June.

Spot gold increased 0.2% to $1,935.39 per ounce. American gold futures increased by 0.2% to $1,940.40.

The GST Council resolved on Tuesday to impose a 28% tax on the total amount of money consumers pay in a blow to the nation's online gaming industry.

Reports said that discussions are still ongoing, and Adani and Reliance Power may decide not to make formal offers.

As part of the bid, Vidarbha Industries Power Ltd, a company operating 600-megawatt generation facilities in central India, is included.

The company is mostly relying on brand monetization, refinancing, and the transfer of general reserves to retained earnings to achieve its payback timeframes.

In a 50:50 joint venture with NTPC, the government will carry out the projects.