Core sector growth rises to 4-mth high

New Delhi: The country’s core sector growth accelerated to a four-month high in Dec. Data released by the commerce and industry ministry on Tuesday showed the eight core sectors, spanning coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, rose an annual 3.7% in Dec, faster than the 2.1% in Nov but…

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‘Average capacity utilisation in manufacturing close to 75%’

NEW DELHI: Existing average capacity utilisation in manufacturing is close to 75%, indicating sustained economic activity in the sector, a survey by industry lobby group Ficci showed Tuesday. The highest capacity utilisation was recorded by metals and metals product segment at 79%, followed by electronics & electricals textiles (78%), apparels and technical textiles (75%), chemicals,…

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PhonePe’s Rs 12k cr IPO gets Sebi nod

MUMBAI: PhonePe has secured a go ahead from markets regulator Sebi for its IPO, people aware of the matter said. The Walmart-owned company is seeking to raise around Rs 12,000 crore ($1.3 billion) through an offer for sale (OFS). If it proceeds with a Rs 12,000-crore offer, it will be the second biggest Dalal Street…

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EPFO’s equity market exposure reaches 10%

NEW DELHI: The Employees’ Provident Fund Organisation (EPFO) exposure to the equity market has for the first time reached 10%, as the retirement fund body looks for avenues to augment its income to sustain the persistent high annual returns amid falling govt bond yields, where nearly 85% of its investible corpus is parked.“EPFO is allowed…

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Gold tops 1.5L/10gm, silver above Rs 3L/kg

MUMBAI: Uncertain political and economic environment, combined with weakness of the dollar and rising industrial demand for silver pushed gold and silver prices to record levels on Tuesday, both in the international and domestic markets.Gold broke above the Rs 1.5 lakh/10gm mark for the first time while silver traded above the Rs 3 lakh/kg mark,…

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