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budget deficit target for this fiscal year is very slim at the moment despite weather hindrances, divestment revenue risks and meek corporate tax collections, thanks to support from the central bank, economists said. “The government has clearly got a much better dividend from the Reserve Bank of India,” Upasna Bhardwaj, Senior Economist, Kotak Mahindra Bank, told ET Online.

Alliance, in short (I.N.D.I.A.) Though some leaders showed initial resistance citing similarities with the name NDA (an alliance spearheaded by the BJP), they later agreed on it calling it as ‘an unanimous decision’.  Congress chief Mallikarjun Kharge said, "Earlier, we were UPA and now all the 26 parties have given a name to the opposition and that is – Indian National Developmental Inclusive Alliance (INDIA). Everybody has agreed upon this, and the resolution for the name was passed unanimously." However, previously Congress had  formed the government at the Centre twice under the umbrella of UPA, so why there was a need of name change? United Progressive Alliance (UPA) was spearheaded by the Congress in 2009 and 2014 but today, many oppositions are of the view that the grand old party cannot take on BJP alone in the upcoming Lok Sabha elections 2024.

Times of India has stated.   The Gujarat government sources told TOI that the city have been preparing to bid for 2030 Commonwealth Games and have been setting itself up for the infrastructure. The state had earlier set its target to complete the work by 2028, however, sources added that work will be completed before the 2026 games.

By Nick Starkov

By Jason Xue and Tom Westbrook

Investing.com — The U.S. dollar edged higher in early European hours Wednesday, bouncing from a 15-month low, while sterling slumped after weaker-than-expected U.K. inflation data.

LONDON — U.K. inflation cooled significantly in June, coming in below consensus expectations at 7.9% annually.

inflation fell by more than expected in June and was its slowest in more than a year at 7.9%, according to official data that will ease some of the pressure on the Bank of England to keep on raising interest rates sharply.Sterling fell as the Office for National Statistics said the consumer price inflation growth rate was its lowest since March of last year but remained above the pace of price growth in many other big, rich economies. Economists polled by Reuters had forecast that the CPI rate in the 12 months to June would drop to 8.2% from May's 8.7%, moving further away from October's 41-year high of 11.1% but still far above the BoE's 2% target.

L&T Tech posted a consolidated net profit of ₹311.1 crore in the first quarter of FY24, which was 8.5% lower than ₹340 crore in the previous quarter. The company’s revenue during Q1FY24 declined 2.9% to ₹2,301 crore from ₹2,370.6 crore, QoQ. In dollar terms, its revenue fell to $280 million from $288.4 million in the last quarter.

alliance, as the deal has been finalized after 10 months of occasionally tense negotiations. Nissan has been working on establishing a lower threshold for its strategic investment in Renault's electric vehicle unit, Ampere. Previously, they had announced a maximum target of 15% in February.

L&T Technology Services, incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 43205.97 Crore) operating in IT Software sector. L&T Technology Services key Products/Revenue Segments include Service (Engineering) for the year ending 31-Mar-2023.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 2349.10 Crore, up 9.46 % from last quarter Total Income of Rs 2146.00 Crore and up 22.44 % from last year same quarter Total Income of Rs 1918.50 Crore.

Aurobindo Pharma with a target price of Rs 763. The current market price of Aurobindo Pharma is Rs 756.5.

Federal Bank board of directors will consider fundraising and share allotment to International Finance Corporation (IFC) on July 21. In a regulatory filing on Wednesday, the lender informed that a meeting of its Board of Directors will be held on Friday, July 21, 2023, to consider, issuance of equity shares by way of a preferential allotment, to International Finance Corporation (IFC), IFC Financial Institutions Growth Fund, LP, and IFC Emerging Asia Fund, LP for subscribing up to 72,682,048 equity shares of the bank at a price not exceeding ₹131.91 per equity share.  “Upon consummation of the transaction, the investors shall in aggregate hold up to 177,528,442 equity shares of the Bank," it said.

₹1,443.35 apiece in the early trade Wednesday after the private sector lender posted decent earnings for the first quarter of FY24, with strong loan book growth and improvement in asset quality, leading to bullish views from analysts. IndusInd Bank reported a standalone net profit of ₹2,123.6 crore in Q1FY24, witnessing a growth of 32.5% from ₹1,603.29 crore in the same quarter last year. Net interest income (NII) increased 18% to ₹5,862.5 crore from ₹4,125.3 crore, YoY.

₹59,743 per 10 grams around 9:35 am. Rahul Kalantri, VP of commodities at Mehta Equities pointed out that gold and silver prices rose sharply higher and hit 2.5-month highs on Tuesday on the back of a softer dollar and lower Treasury yields. However, they are not seeing fresh momentum as the US retail sales numbers for June were slightly below expectations.

Sensex and Nifty on Wednesday hit fresh record peaks above 67,000 and 19,800 levels, respectively. Buying was broad-based across market segments and sectors with IT and bank stocks leading the show.

Amazon.com Inc.’s carbon emissions ticked lower for the first time since the company began reporting the figure, thanks to increased purchases of renewable electricity and a big slowdown in the retailer’s sales growth. The Seattle-based giant emitted 71.27 million metric tons of carbon dioxide equivalent in 2022, down 0.4% from the previous year, Amazon said in its annual sustainability report, published on Tuesday. The company achieved the improvement by using more solar and wind to power its operations and benefited from a decrease in emissions from construction and third-party transportation.

The S&P BSE Sensex rose more than 200 points, while the broader Nifty50 rose 37 points to end at a new record high of 19,749 on Tuesday. India VIX was up by 3.49% from 11.31 to 11.71 levels on Tuesday.

“There is a kind of FOMO from foreign players as they can’t miss India as an investment but at the same time, they are also very specific about the sectors in which they want to invest”, says Vikram Kasat- Head Advisory, Prabhudas Lilladher Pvt Ltd. In an interview with ETMarkets, Kasat who has over 13 years of experience said: “In Bull Case, we value NIFTY at 10-year average (20.8x) and arrive at bull case target of 24353 (23878 at LPA PE)” Edited excerpts:Where do you see markets headed amid interest rate headwinds? The US Federal Reserve's decision to raise interest rates can have an impact on the Indian market, particularly in terms of capital flows and investor sentiment. In this case, it may lead to a strengthening of the US dollar, which could potentially put pressure on the Indian rupee and create volatility in the equity markets.

Nifty ended at 19,749.25, up 37.80 points, or 0.19%. The Midcap and Smallcap indices, however, underperformed the frontliners and ended in the red.

Twitter Inc on Tuesday was hit with the second lawsuit this month to claim that it owes at least $500 million in severance pay to ex-workers, the latest in a series of cases arising from Elon Musk's acquisition of the social media company. The proposed class action filed in Delaware federal court by former Twitter senior engineer Chris Woodfield also alleges that the company targeted older workers for layoffs, a claim that has not been made in the other pending cases. Woodfield, who worked for Twitter out of Seattle, says the company repeatedly told employees that they would receive two months' salary and other payouts if they were laid off, but that he and other workers have not received the money.