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Recently, writing in the Economic Survey, the chief economic advisor observed that it is worth exploring whether India’s inflation targeting regime should focus on non-food inflation. The reasoning was that monetary policy is more effective in counteracting price pressures that arise out of excess aggregate demand, whereas food inflation is usually on account of supply constraints. In contrast, the Reserve Bank of India (RBI) governor recently spoke after the monetary policy meeting and observed that food inflation is a major factor in determining inflationary expectations and therefore continues to be a matter of concern.

Starbucks has announced that Brian Niccol will be the new chairman and CEO, effective September 9, 2024. Niccol, who will succeed Laxman Narasimhan, will start his new role amid a significant leadership transition at the global coffee company. Narasimhan's departure, after just over a year as CEO, has set the stage for Niccol's high-profile appointment.

SINGAPORE—China’s internet giants are betting billions on incubating the country’s OpenAI challengers, with Alibaba Group and Tencent leading the charge. Since 2023, investors—including the country’s biggest tech companies—have valued at least six China-based startups developing large language models at more than $1 billion each.

ICICI Bank with a target price of Rs 1400. The current market price of ICICI Bank Ltd. is Rs 1177.25. ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 829883.24 Crore).

₹3,119 per gram then, according to the India Bullion and Jewellers Association Ltd. That gold was redeemed this year at ₹7,190 per gram. In effect, the government will pay 13.5-14% compounded on the SGBs redeemed this year, given around 11% CAGR of gold prices plus the interest.

The 3% fiscal deficit target: Is it sacrosanct? Irrespective of how the data is sliced, India’s public debt position is weak for a country of its size and potential. Of countries in the BBB category, India has the highest fiscal-deficit-to-GDP and the third-highest general-government-debt-to-GDP ratios. Among large emerging markets, its debt-to-GDP metric is much higher than that of Thailand, Mexico, Philippines, and closer to below-investment-grade Brazil.

Diversified auto ancillaries’ revenue growth stood at 23% YoY in Q1FY25, while their EBITDA increased by 29% YoY during the same period. In comparison, auto OEMs experienced a 9% revenue increase, with their EBITDA growth at 21%, according to a Nuvama note. The coverage included Bharat Forge, Endurance Technologies, CIE Automotive, SAMIL, Sona BLW Precision, Uno Minda, and Varroc Engineering.

IndiaP2P was founded in 2021 by Neha Juneja as a platform that focuses on empowering women entrepreneurs. With 96% of its borrowers being women leading SMEs, particularly in rural areas, IndiaP2P has grown through partnerships with organisations and microfinance institutions across regions like Nagaland, the southern states, and Maharashtra by providing essential capital to these entrepreneurs. In a chat with ETDigital, Juneja, the CEO and Co-founder of the platform, talks about what she wants to achieve, why IndiaP2P has placed a bet on women entrepreneurs and the role of the regulator in the fintech space. Edited excerpts. Economic Times (ET). When did you start IndiaP2P and what was the idea behind it? Neha Juneja (NJ): We started operations in 2022 with a core thesis that women and small business owners make for prudent borrowers. Investing in them is both profitable and purposeful, given the direct and second-order effects of enabling income expansion, especially for women. Building on this thesis, we now source loans predominantly from women businesses nationwide and curate them for retail lenders to lend to.

Australia on Wednesday approved plans for a massive solar and battery farm that would export energy to Singapore, a project dubbed the «largest solar precinct in the world». Authorities announced environmental approvals for the US$24 billion SunCable project in Australia's remote north that is slated to power three million homes. The project, which will include an array of panels, batteries and, eventually, a cable linking Australia with Singapore, is backed by tech billionaire and green activist Mike Cannon-Brookes.

HDFC Bank with a target price of Rs 1950. The current market price of HDFC Bank Ltd. is Rs 1631.75. HDFC Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 1245982.19 Crore).

The Nifty future closed positive with gains of 0.45% at 24,707 levels on Tuesday. The India VIX was down by 3.46% from 14.32 to 13.82 levels.

Bank of Baroda with a target price of Rs 280. The current market price of Bank of Baroda is Rs 254.3. Bank of Baroda, incorporated in the year 1911, is a banking company (having a market cap of Rs 131533.60 Crore).

Bandhan Bank with a target price of Rs 260. The current market price of Bandhan Bank Ltd. is Rs 197. Bandhan Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 31721.61 Crore).

Axis Bank with a target price of Rs 1375. The current market price of Axis Bank Ltd. is Rs 1166.1. Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 360940.79 Crore).

JP Morgan maintained an overweight rating on Cyient while BofA and UBS have a buy call on Varun Beverages and Avenue Supermarts respectively.

core inflation, which excludes volatile food and fuel prices, as doing so would be counterproductive, according to a study. The paper by think-tank National Council of Applied Economic Research addresses the ongoing debate among policymakers over whether food prices should be stripped from inflation targeting. Economists argue that this approach is not feasible in a country like India, where food makes up nearly half of the consumer price index basket. “Neglecting food price inflation that diverges from target for an extended period can have negative consequences,” economists including NCAER’s Poonam Gupta wrote in the study.

Accel has invested $9 million in Uppercase, nearly doubling the new-age luggage maker’s valuation after the investment to $60 million. The investment is earmarked for fuelling the brand’s expansion through new retail stores domestically as well as in Europe and the Middle East by next year, cofounder and managing director Sudip Ghose told ET. ET had reported on May 31 about Accel, an early investor in Flipkart, having discussions to invest in Uppercase, underscoring investor interest in new-age consumer retail brands.

Infosys kicked off the fiscal 2024-25 performance bonus pay-outs to eligible employees at an average of 80% for the first quarter ended June, in what could potentially uplift the mood across vast sections of the technology workforce. This pay-out is a substantial jump from the previous quarter ended March 31 when India’s second largest IT services firm had paid an average 60% of the targeted bonus. “This is the best we have seen in some time,” an Infosys employee told ET on the condition of anonymity.

stock market indices closed higher on Tuesday, August 20. The frontline indices witnessed solid buying on positive global cues as both the Nifty and the Sensex index closed higher after Tuesday's trading session.

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