Moneycontrol Selects: Top stories this evening
Here are the top stories this evening:
1. IMF cuts India's GDP growth forecast by 80 bps to 8.2% for FY23, says global prospects set back by war
The International Monetary Fund (IMF) has cut its growth forecast for India for FY23 by 80 basis points to 8.2 percent, warning that Russia's invasion of Ukraine would hurt consumption and hence, growth, by way of higher prices.
For full story see here
2. The long and short of HDFC Bank stock’s prospects
On April 4, when HDFC Bank and Housing Development Finance Corporation announced their mega merger, the stock prices of both lenders shot up 10 percent in a single session. Since then, both shares have dropped 18 percent. Some brokerages have pruned their target price for HDFC Bank’s stock from those set after the merger announcement. What has changed?
For full story see here
3. Maharashtra to start coal imports for blending from end-April as domestic supply remains low
Maharashtra will import coal from Indonesia by the end of April to use it for blending with domestic coal to meet the rising power demand even as domestic coal supply continues to be muted, a top official from the state’s power utility told Moneycontrol.
For full story see here
4. RBI asks NBFCs to make additional disclosures under scale-based regulation regime
The Reserve Bank of India on April 19 asked non-banking finance companies (NBFCs) to make additional disclosure in accordance with its framework for scale-based regulation of shadow lenders. The disclosures pertain to regulatory requirements, exposure to sectors like real estate, capital market, among others.