RBI Governor Shaktikanta Das anticipates that India's GDP growth will meet the projected 7.2% for this financial year, driven by favorable monsoon conditions and higher government spending. The first-quarter growth dipped to 6.7% due to reduced government expenditure related to elections. However, he remains optimistic about achieving the annual projection.
Prime Minister Narendra Modi laid the foundation for the Vadhvan Port project in Maharashtra's Palghar. Estimated to cost around Rs 76,000 crore, this project aims to improve India’s maritime connectivity and economic growth. The port will reduce transit times, accommodate large vessels, and generate employment, following sustainable practices to minimize environmental impact.
Stock market today: Both indices, BSE Sensex and Nifty50, recorded their third consecutive weekly and monthly gains, rising 1.6% for the week and approximately 1% in August
Stock market today: Despite trimming some gains, both indices settled at record closing levels, with the Nifty 50 extending its winning streak to 11 consecutive sessions, marking its longest such streak since October 2007.
RIL AGM 2024 Live: Mukesh Ambani, the Reliance Industries Chairman, said that his conglomerate, which spans from oil to telecom, is not focused on generating short-term profits or accumulating wealth for its own sake. Mukesh Ambani announced at Reliance Industries' AGM that the company will establish gigawatt-scale, AI-ready data centers in Jamnagar, Gujarat.
Paytm has received the green light from the finance ministry to invest in its payment services business. The company aims to reapply for the license for its payment services. Though Paytm remained reserved on specific amounts, Reuters highlighted a 500 million rupee investment. The payment services division significantly contributed to its revenue in the last fiscal year.
Stock market today: Nifty50 hit a fresh intra-day peak of 25,129.60, surging 111.85 points or 0.44 per cent. This marked the tenth consecutive session of gains for the Nifty.