The board of directors approved the composite scheme of the arrangement, which highlights the demerger of TAN business (Mining Chemicals) from STL to DMSPL.
The Company has refurbished the existing Regenta Exotica.
The project's total cost is Rs 5,723.59 crore.
State Bank of India is quoting at Rs 615.5, up 3.63% on the day as on 12:49 IST on the NSE. The stock is up 17.63% in last one year as compared to a 0.33% gain in NIFTY and a 5.2% gain in the Nifty Bank index.
On Nifty, NTPC was the top gainer soaring by 2.3% followed by Bajaj Finserv, Kotak Bank, Eicher Motors and Power Grid up 1% each.
Data Source: Office of the Economic Advisor The negative causal relationship between rate hikes and fall in WPI inflation appears to be working perfectly. Consider this causality. Between May 2022 and November 2022, the RBI hiked repo rates by 225 basis points from 4.00% to 6.25. During the same period, WPI inflation fell 1,078 bps from 16.63% to 5.85%. That is because rate hikes hit the manufacturing sector first but take time to trickle down to the retail level. The Monetary Policy Committee (MPC) of the RBI should take solace from the fact that the WPI inflation has reacted sharply to the rate hikes. Clearly, with the CPI inflation being a lag indicator, it should follow suit. In May 2022, WPI inflation had touched a 31-year high of 16.63%. WPI inflation had actually become a lot steeper in 2022 due to the Ukraine war, impact of Russia sanctions, China’s zero-COVID lockdowns and global central bank hawkishness; apart from high inflation and pressure on cost of funds
The private lender on Friday (2 September 2022) announced a strategic partnership with Asian Development Bank (ADB) to support and promote Supply Chain Finance (SCF) solutions in India.
In conversation with Sheetal Agarwal of IIFL, Liberatha Peter Kallat, Chairperson and Managing Director of IPO-bound Dreamfolks Services Limited talks about the company's strengths, growth strategies and road ahead.
In conversation with Sheetal Agarwal of IIFL, Basant Maheshwari discusses his investment philosophy, his smallcase and preferred investment themes.
Data Source: Office of the Economic
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