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Business highlights

·3-min read

New Delhi, Nov 19 (PTI) Following are the top business stories at 1900 hours: DCM20 BIZ-LD MOODY'S-GROWTH Moody's ups FY'21 India growth forecast to (-) 10.6 pc; says stimulus to boost mfg, jobs New Delhi: Moody's Investors Service on Thursday upped India's growth forecast to (-) 10.6 per cent for the current fiscal, from its earlier estimate of (-) 11.5 per cent saying the latest stimulus prioritises manufacturing and job creation, and shifts focus to longer-term growth.

DCM49 BIZ-PM REINVEST PM to inaugurate 3rd global renewable energy meeting & expo on Nov 26 New Delhi: Prime Minister Narendra Modi will inaugurate the 3rd Global Renewable Energy Investment Meeting and Expo (RE-INVEST 2020) on November 26 to woo investors for investing in clean energy in India.

DCM42 BIZ-SPORTS-BETTING EACPM member Shah pitches for legalising betting; Mos Finance Thakur says it can check match-fixing Mumbai: Minister of State for Finance Anurag Thakur on Thursday said legalising betting and getting it into the formal economy will help contain “unholy and corrupt' practices like match-fixing besides giving tax revenues.

DCM51 BIZ-OLA-ESCOOTER Ola to introduce e-scooter by Jan next year: Sources New Delhi: Ride-hailing major Ola is foraying into electric scooter manufacturing and plans to hit the market with its first vehicle in January next year, sources said.

DEL58 BIZ-LD RUPEE Rupee logs 1st loss in four sessions, slips 8 paise against USD Mumbai: The Indian rupee saw its first decline in four sessions on Thursday, depreciating by 8 paise to settle at 74.27 against the US dollar tracking weakness in Asian currencies and a lacklustre trend in domestic equities.

DEL53 BIZ-LD STOCKS Markets snap record run as virus caseload weighs; bank stocks lead decline Mumbai: The Sensex and Nifty retreated from record highs on Thursday following heavy profit-booking in financial stocks amid a weak trend in global markets due to rising COVID-19 cases in multiple countries.

DCM43 BIZ-REPORT-ECONOMY GROWTH Oxford Economics revises downwards India growth forecast; pegs at average 4.5 pc for 2020-25 New Delhi: Global forecasting firm Oxford Economics on Thursday revised downwards its India growth forecast over the medium term to an average 4.5 per cent over 2020-25, from its pre-pandemic projection of 6.5 per cent.

DCM38 BIZ-VEDANTA-BPCL BPCL acquisition could pay for itself, but question is how will Vedanta secure funding: Report New Delhi: Metals-to-oil conglomerate Vedanta's interest in buying Bharat Petroleum Corp Ltd (BPCL) is a natural progression towards downstream integration that will hedge its margins but there are doubts over its promoters' ability to raise finances for such acquisition, analysts said. DCM34 BIZ-GDP-ICRA GDP contraction likely to have narrowed to 9.5 pc in September quarter: Icra Mumbai: The contraction in the country's Gross Domestic Product (GDP) may have narrowed to 9.5 per cent in the second quarter of the current fiscal from 23.9 per cent in the April-June quarter, says a report.

DCM33 BIZ-MCX METLDEX clocks turnover of Rs 1,336 cr since launch: MCX New Delhi: Leading commodity bourse MCX on Thursday said its metal index futures, METLDEX, has completed its first expiry cycle with a turnover of Rs 1,336 crore.

DCM21 BIZ-PNOTES P-notes investment swell to 14-month high in October on enhanced global liquidity New Delhi: Investments through participatory notes (P-notes) in the Indian capital market surged to Rs 78,686 crore at October-end, making it the highest level in 14 months, on enhanced global liquidity and measures taken by the government back home. DCM15 BIZ-S&P-LAKSHMI VILAS RBI's swift resolution of Lakshmi Vilas Bank to maintain sector stability: S&P New Delhi: S&P Global Ratings on Thursday said the Reserve Bank of India's swift resolution of troubled Lakshmi Vilas Bank will keep contagion at bay and help maintain stability in the banking system. PTI BAL