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ZestMoney, which has been looking for a buyer, reported a net loss of Rs 412.4 crore for FY23. This is a marginal 3% increase from the Rs 399-crore loss it posted a year ago, according to filings sourced from the ministry of corporate affairs

high valuations and lack of further positive triggers, investors are expected to lower their return expectations from mid and small-cap equity mutual funds (MFs) in the calendar year 2024, reported Business Standard. Instead, they want investors to invest money in large cap equity mutual funds for better returns. Driven by inflows from foreign institutional investors, stable macroeconomic indicators, and robust earnings momentum, the domestic equity market reported its best annual return in calendar year 2023 since 2017.

India's top gas importer Petronet LNG is likely to sign a deal this month to extend its long-term liquefied natural gas (LNG) imports from Qatar to beyond 2028, India's Oil Secretary said on Wednesday. Petronet has a 7.5-million metric ton per year (tpy) long-term LNG import deal with Qatar and its promoters Indian Oil Corp, Bharat Petroleum Corp and GAIL (India) Ltd has a 1 million tpy deal. Indian companies had until the end of 2023 to negotiate with Qatar for renewal of the deals to beyond 2028. «We are pretty close to signing the deal,» Oil Secretary Pankaj Jain told reporters. Qatar, the world's top LNG exporter, aims to expand its liquefaction capacity to 126 million tpy by 2027 from 77 million and has signed long-term deals with European majors Shell, TotalEnergies and ENI. It has also signed long-term gas deals with China's Sinopec, China National Petroleum Corp and Bangladesh.

Adani group, which is redeveloping Dharavi slums, plans to finance the entire project via internal accruals and possible sale of equity in the special purpose vehicle (SPV) set up for the project, according to sources. Earlier this week, the company had appointed three companies, including noted architect Hafeez Contractor, as city planners to present a draft development plan for the Asia's largest slum cluster. In a statement, the group, which has promised to invest Rs 21,000 crore in the project, said it roped in design firm Sasaki, consultancy firm Buro Happold as design planners for the project as well as some experts from Singapore Housing Development Board. The statement did not mention any timeline for the project. The Adani group had in November 2022 won the bid to redevelop Dharavi, with an initial equity investment of Rs 5,069 crore. Hafeez Contractor is known for revolutionary social housing and slum rehabilitation authority projects in the city, while Sasaki is an interdisciplinary design firm from the US and Buro Happold is a consultancy from England known for its creative and value-driven infrastructure solutions. When asked about the media reports that the company was about to reach financial closure for the project with two lenders agreeing to fund it, a source in the know said the tender conditions are very clear, we cannot raise any debt to fund the project. We will dip into our own finances and look at other innovative financial instruments.

Myntra said its operating revenue grew 25% to Rs 4,375 crore in FY23, even as losses widened 31% to Rs 782 crore. The firm had reported Rs 3,501 crore in operating revenue a year ago, while incurring a total loss of Rs 597 crore, according to filings sourced by business intelligence platform Tofler.

IDFC First Bank, cautioned that going into 2024, manufacturers may get less support from softening prices, which could hurt the industry's profits. “Listed company profits have been strong in 2023, supported by reducing input cost pressures, which has countered the slowdown in nominal sales growth.

By Ankika Biswas

Stocks finished lower, with the S&P 500 down about 60 bps, led mostly by mega-cap tech and Apple (NASDAQ:AAPL).

National Payments Corporation of India (NPCI) has directed members to comply by January 10 with the banking regulator’s decision to raise the UPI transaction limit to ₹5 lakh for hospitals and educational services, reported Business Standard. To ensure compliance, the NPCI has instructed banks, payment service providers (PSPs), and UPI applications to increase transaction limits for the specified merchant categories. “It is a move in the right direction.

₹71,253 crore in April-September. “That is the demonstration of everything that has happened this year, every distraction that has happened. We have just kept our heads down and focused on one thing we are good at.

Also Read: Q3 result preview: IT firms expected to post muted revenue, subdued profit amid weak demand “We remain positive on the sector considering buoyancy in the real estate market; government’s focus on housing, sanitation and infrastructure; improvement in agriculture segment with normalization in raw material prices; pick-up in exports and increase in branded or large players market share. In Q3FY24, the plastic pipe sector is expected to report EBITDA margin expansion of 230 bps YoY to 14.7% with sequential stability in raw material prices.

Avenue Supermarts, which operates the retail chain of DMart, is one such stock that has been on a downward spiral over the last two calendar years. The stock dropped nearly 4% to ₹3,940 per share in today's trading session following the company's release of Q3FY24 business update, which came in below analysts' estimates. Also Read: Weak rural demand to dent FMCG sector volumes in Q3FY24, says Nuvama The company on Tuesday reported a 17.18% improvement in its standalone revenue from operations to ₹13,247 crore, driven by 5% growth in revenue per store to ₹1,565 million and 11% store addition.

ALSO READ: Foreign investors keen on India but transparency key factor: WEF investment head 1) Davos 2024 will be hosted between 15 to 19 January 2024. 2) It will be hosted at the local Swiss Alpine School in the heart of Davos.

OMCs) have not been in talks with the Centre on possible fuel price cuts, Oil Minister Hardeep Singh Puri said on Wednesday. “First of all, all these media reports were not only speculative, but I would also turn around and say, slightly mischievous. I have clarified there has been no discussion with OMCs on any such issues. We are in a very highly turbulent situation.

It is important to meet deadlines especially when it comes to income tax as it can help avoid paying penalties, penal interest, and file income tax return (ITR).

Roshan Thomas has resigned from the company adding to the spate of senior-level exits at the trouble edtech firm over the past few months. Thomas, a former Shardul Amarchand Mangaldas partner had joined Byju’s in 2021.

Tamil Nadu Sports Minister Udhayanidhi Stalin on Wednesday said he would call on Prime Minister Narendra Modi in Delhi on January 4 to invite him to the Khelo India Youth Games to be held this month in Tamil Nadu. For the first time, Khelo India Youth Games would be held in the state and it is slated to be conducted from January 19 to 31, Udhayanidhi told reporters, adding he would be inviting Modi for the event.

Itamar Ben Gvir, dismissed the US State Department's condemnation of his statement for urging Palestinians in Gaza to be resettled outside the strip on Tuesday, The Times of Israel reported. «I really admire the United States of America but with all due respect, we are not another star in the American flag,» Ben Gvir, who heads the ultranationalist Otzma Yehudit party, said in a statement.

stricter guidelines during the upcoming tests. The National Testing Agency (NTA) has announced that frisking and biometric attendance will be mandatory, even after a toilet break.

Left Image: Laboratory-grown diamond factory in China; Right Image: Unpolished laboratory-grown diamonds

Melissa Hoskins, an Australian Olympic track cyclist and former world champion, died after she was hit by a vehicle while out for a ride over the weekend, and now her husband has reportedly been charged in her death.