Top news today: Market ends flat, RIL eyes Africa for new telecom venture, monsoon arrival and more
Click here to read more Mukesh Ambani is set to enter Africa with a telecoms venture, seeking to win mobile broadband customers in a high-growth market, Bloomberg reported.Radisys Corp., a unit of Ambani-controlled Reliance Industries Ltd., will provide key network infrastructure, applications and smartphones for Ghana-based Next-Gen InfraCo., according to Harkirit Singh, the executive director of NGIC. He described the plans ahead of NGIC’s launch announcement on Monday in Mumbai, India’s financial hub.
Click here to read more With several regions in the country facing intense heatwave conditions, people are eagerly awaiting the arrival of the monsoon rains to bring much-needed relief. As per IMD, the southwest monsoon is likely to hit Kerala on May 31.
“Southwest Monsoon is likely to set in over Kerala on 31st May with a model error of ±4 days," the IMD said in its bulletin. Click here to read more India's economy likely grew at its slowest pace in a year in the January-March quarter due to weak demand, according to a Reuters poll of economists who said the possibility of growth significantly surpassing their forecasts was low.The country's gross domestic product (GDP) unexpectedly grew by 8.4% in October-December compared to a year earlier, thanks to a sharp drop in subsidies which provided an artificial boost to net indirect taxes.
But economic activity, as measured by gross value added (GVA), showed a more modest 6.5% expansion. Click here to read more The foreign portfolio investors (FPI) continued their selling spree in the Indian stock market during May, dumping financial services, IT and FMCG sector stocks the most.
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