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Business highlights

·3-min read

New Delhi, July 16 (PTI) Following are the top business stories at 1920 hours: DEL60 BIZ-LD STOCKS Sensex, Nifty retreat from new peaks; IT, banking stocks weigh Mumbai: Equity benchmarks Sensex and Nifty pulled back from their all-time highs to settle on a flat note on Friday due to selloffs mainly in IT and banking counters amid lack of directional cues from global markets.

DEL52 BIZ- 2NLD PAYTM Paytm files draft papers for Rs 16,600 cr IPO with SEBI; Antfin to sell 5 pc stake New Delhi: Digital payments and financial services firm Paytm has filed a draft red herring prospectus for its proposed Rs 16,600 crore-initial public offering (IPO) with the Securities and Exchange Board of India.

DEL50 BIZ-LD GROWTH-CEA India's growth to witness 6.5-7 pc FY23 onwards: CEA Mumbai: The country's economy will start witnessing a growth of 6.5 to 7 per cent from fiscal 2023 onwards, helped by various reforms undertaken by the government so far and also as COVID-19 vaccination drive progresses, Chief Economic Advisor Krishnamurthy Subramanian said.

DEL67 BIZ-LD RUPEE Rupee weakens by 3 paise to 74.57 against US dollar Mumbai: The rupee saw a marginal 3 paise loss to settle at 74.57 against the US dollar on Friday as consistent demand for the greenback from importers exerted pressure on the domestic currency.

DCM51 BIZ-LD ZOMATO-IPO Zomato IPO gets bumper 38 times oversubscription New Delhi: Zomato's mega initial public offering (IPO) ended with a bumper 38 times oversubscription on Friday as institutional investors poured money to get a pie of the hottest online food delivery platform.

DCM42 HR-CII-KHATTAR Haryana's 75 pc job reservation law will not negatively impact industry, says Khattar Chandigarh: The law in Haryana that provides 75 per cent reservation in the private sector to job seekers from the state will not negatively impact industry in the state, Chief Minister Manohar Lal Khattar assured on Friday during a meeting with the CII delegation.

DCM37 BIZ-TOMAR-FARMERS Tomar urges farmers to take benefit of govt's agri-reforms; launches Kisan Sarathi app New Delhi: Agriculture Minister Narendra Singh Tomar on Friday urged farmers to take benefit of the government's farm reforms that are not only aimed at improving their lives, but also boosting the agriculture sector.

DCM20 BIZ-INDIA-SAUDI-OIL Puri conveys India's concerns over high oil prices to Saudi, UAE New Delhi: India, the world's third-biggest oil consumer, has conveyed to OPEC countries its concern over high oil prices that are threatening to impact the nascent economic recovery after the devastating pandemic.

DEL57 BIZ-GOLD-PRICE Gold prices drop Rs 73; silver cracks Rs 196 New Delhi: Gold in the national capital on Friday dipped Rs 73 to Rs 47,319 per 10 gram amid fall in global precious metal prices, according to HDFC Securities.

DCM3 BIZ-OYO-FUNDING OYO raises USD 660 mn term loan funding from global institutional investors New Delhi: Hospitality firm OYO on Friday said it has raised TLB funding of USD 660 million (nearly Rs 4,920 crore) from global institutional investors and the capital will be used for paring debt and other business investments. PTI SHW SHW

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