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SBI Life has reported net profit of Rs 381 crore for the quarter ended June. The net premium income rose 19% year-on-year to Rs 13,104 crore

U.S. crude stocks rose by about 1.32 million barrels in the week ended July 21, according to market sources citing American Petroleum Institute figures on Tuesday. Analysts polled by Reuters expected a 2.3 million barrel drawdown.

“Growth in India is projected at 6.1% in 2023, a 0.2 percentage point upward revision compared with the April projection, reflecting momentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment,” the IMF stated in its July update of the World Economic Outlook (WEO).

Lenders of Vidarbha Industries Power will hold a Swiss challenge auction on August 8 among the three shortlisted asset reconstruction companies (ARCs), said people aware of the development. Lenders have shortlisted Aditya Birla ARC, Avenue Capital-backed Asset Reconstruction Company of India (Arcil) and Reliance ARC as eligible candidates to submit counter offers for the sale of the distressed power company, the people said.

Our primary focus in any case is on the power sector and energy transition. But, last year, in the second half of the financial year, we were allowed to fund the infrastructure sector with a 30% cap. Last year the total sanctions made under the infrastructure sector was Rs 15,000 crore approximately, says Parminder Chopra, director-finance.

​​Foreign Portfolio Investors (FPIs) have consistently increased their stakes in about 40 companies such as ITC, Raymond and Karnataka Bank among others in the past six quarters, according to data compiled by ET.

TVS shares made a record high of ₹1,388.45 before closing at ₹1,383.70 apiece on the NSE, up 5.86% from the previous close. More than 56 lakh shares exchanged hands on the BSE and NSE, up over five times the combined average daily volume for the past one month.

​​Adani Green jumped 10%, emerging as the biggest gainer among the group companies. Adani Power gained 9.2%, while ACC, Adani Total Gas, Ambuja Cements, Adani Wilmar and NDTV rose 4-5% each.

Despite the overall positive financial performance, the value of new business (VNB) margin dropped to 28.8% from 30.4% due to a decline in non-par products during the quarter.

Investors have been on the guard after U.S. inflation data in July showed a third consecutive monthly decline in fares, with prices dropping at their fastest pace since February 2021