New Delhi, Nov 15 (PTI) Following are the top business stories at 2000 hours:
DEL34 BIZ-MOODYS-LD INDIA
* India to clock 7.2 pc growth in 2024, RBI to hold interest rates steady this year: Moody's
New Delhi: Moody's Ratings on Friday forecast a 7.2 per cent GDP growth for India in 2024, saying the Indian economy is in a sweet spot, but inflation risks may prompt the RBI to retain a relatively tight monetary policy this year. *
DEL46 BIZ-FOREX
* Forex kitty drops by USD 6.477 bln to USD 675.653 bln
Mumbai: India's forex reserves dropped by USD 6.477 billion to USD 675.653 billion for the week ended November 8, the RBI said on Friday. *
DCM61 BIZ-GAS-SUPPLY CUT
* More cuts in domestic gas supply to CNG firms, IGL says to impact profitability
New Delhi: The government has for the second time in a month cut supplies of cheaper domestically produced natural gas to CNG retailers, who have warned of their profitability being hit. *
DCM53 BIZ-CLSA-INDIA
* In U-turn, global brokerage CLSA shifts focus back to India, cuts China exposure
New Delhi: Global brokerage firm CLSA has reversed its early tactical shift from Indian equities to Chinese stocks, and has decided to raise India allocation while cutting exposure to China. *
DCM50 BIZ-MARKET-CORRECTION
* Markets tank over 10 pc from record highs amid FII exodus, weak Q2 earnings, elevated valuations
New Delhi: Benchmark indices Sensex and Nifty after smashing many record peaks this year, slipped into a correction mode, with the NSE key gauge falling over 10 per cent from its record high hit in September amid concerns of foreign investors fleeing the domestic market, weak Q2 earnings and stretched valuations. *
DCM45 BIZ-INDIA-UAE-TRADE
* Imports from UAE up 70 pc in October to USD 7.2 bn: Comm min data
New Delhi: India's imports from its free trade agreement partner UAE have jumped by 70.37 per cent year-on-year to USD 7.2 billion in October, leaving a trade deficit of about USD 3.5 billion during that month, according to the commerce ministry data. *
DCM32 BIZ-AUTO SALES-FADA
* Automobile retail sales grow 12 pc to 42.88 lakh units in festive period: FADA
New Delhi: Automobile retail sales in India rose 12 per cent year-on-year to 42,88,248 units in the 42-day-long festive period this year, dealer's body FADA said on Friday. *
DCM29 BIZ-MERCEDES BENZ
* Mercedes-Benz India to hike prices by up to 3 pc from Jan 1
New Delhi: German luxury carmaker Mercedes-Benz on Friday said it will hike prices of its vehicles in India by up to 3 per cent on its entire model range in the portfolio from January 1, 2025, citing a rise in input costs, inflationary pressures and higher operational expenses. *
DCM2 BIZ-UBER INDIA-MOBILITY
* India mobility opportunity massive, underpenetrated; have barely scratched surface: Uber
New Delhi: India is among the largest markets by volume and growing at a rapid pace, President of Uber India and South Asia Prabhjeet Singh has said, terming it an "incredibly important market" that presents a multi-decadal opportunity for the ride-hailing platform. *