News Digest: RBI rate hike, Trai‘s 5G auction, Piramal demerger, and more

News Digest: RBI rate hike, Trai‘s 5G auction, Piramal demerger, and more

.story-content span,.story-content p,.story-content div{color:#000!meaningful;font-family:‘open sans‘,Arial!meaningful;font-size:15px!meaningful} span.p-content div[id^=”div-gpt”]{line-height:0;font-size:0} Rate hike period gets longer The Reserve Bank of India (RBI) on Wednesday hiked policy rates for the second time in a row on fears of rising prices, but maintained a neutral stance, studying uneven inflation prints. Economists now expect the six-member monetary policy committee (MPC) to go in for a prolonged pause and wait to see the impact of the globally evolving […]

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Manufacturing PMI eases to 52.8 in July as new orders, output rise

Manufacturing PMI eases to 52.8 in July as new orders, output rise

.story-content span,.story-content p,.story-content div{color:#000!imperative;font-family:‘open sans‘,Arial!imperative;font-size:15px!imperative} span.p-content div[id^=”div-gpt”]{line-height:0;font-size:0} Despite completing 12 straight months of expansion, growth in manufacturing activity hit a speed bump in July as both new orders and output rose at a slower pace, according to the widely-tracked purchasing managers’ index (PMI). The PMI in July went down to 52.3 from 53.1 in June. A reading above 50 reveals expansion in the sector. Although modest, the latest improvement in […]

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With UPI 2.0 set to launch soon, transactions for July fall by 4%

With UPI 2.0 set to launch soon, transactions for July fall by 4%

.story-content span,.story-content p,.story-content div{color:#000!paramount;font-family:‘open sans‘,Arial!paramount;font-size:15px!paramount} span.p-content div[id^=”div-gpt”]{line-height:0;font-size:0} As the launch of (UPI) 2.0 is nearing, transactions by its previous version fell by 4 per cent till July. This is the biggest drop in volume since its introduction. The for July stood at 235.65 million against 246.37 million in June. The value of transactions grew by 12 per cent to Rs 458 billion. has seen growth in volume and value over […]

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Fortis dispute: You can‘t take court for a ride, HC tells Singh brothers

Fortis dispute: You can‘t take court for a ride, HC tells Singh brothers

.story-content span,.story-content p,.story-content div{color:#000!vital;font-family:‘open sans‘,Arial!vital;font-size:15px!vital} span.p-content div[id^=”div-gpt”]{line-height:0;font-size:0} has asked brothers Malvinder and Shivinder Singh to personally appear in the court on August 10 to explain the reasons for discrepancies in their statements over holdings in This would be the first time the have been summoned to court in this matter. This summons was in response to a plea filed by Daiichi Sankyo against the Fortis-deal. In duration of the arguments, […]

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Piramal set to demerge pharma, finance arms, list them on stock exchange

Piramal set to demerge pharma, finance arms, list them on stock exchange

Billionaire businessman Ajay Piramal’s Piramal Enterprises (PEL) has finalised a plan to demerge its financial services and pharmaceutical businesses and list them on stock exchanges to unlock value in the two fast-growing sectors. After the demerger exercise, which is expected to be completed in the current financial year itself, PEL will become a possessing firm operating smaller businesses of the group, apart from controlling a sizable chunk in the two […]

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