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The International Monetary Fund cut its 2023 global growth forecast from 2.9% to 2.7%, warning that pressures from inflation, war-driven energy and food crises, and higher interest rates may tip the world into recession and financial market instability.

India’s growth forecast for FY23 was downgraded to 7.4% in July from 8.2% estimated in April in view of less favourable external conditions and more rapid monetary policy tightening. Growth projection was slashed in April to 8.2% from 9% on account of higher commodity prices.

Earlier, the RBI opposed the proposal allowing ARCs to bid for debt resolution under bankruptcy courts. The RBI now said that ARCs with a minimum net owned fund of Rs 1,000 crore can act as resolution applicants.

Stating that he sees an equilibrium in demand-supply dynamics going ahead, the expert said although capacity utilisation may remain flattered to marginally higher over the next few years, this would only lead to better pricing discipline in the wake of healthy demand and supply position.

Goldman Sachs, through its Singapore entity, held 1.2 per cent stake in the private sector lender as on June 30. Foreign investors holdings in the lender are quite high at 45.83%.

Infosys had spent between Rs 8,000-9,000 crores in the last two share buybacks, and some analysts feel that the buyback size this time could be bigger. According to IIFL Securities, the IT major could announce a buyback size of Rs 11,000-12,000 crores.

The Dow Jones Industrial Average fell 117.68 points, or 0.40%, at the open to 29,085.20. The S&P 500 opened lower by 16.53 points, or 0.46%, at 3,595.86, while the Nasdaq Composite dropped 57.73 points, or 0.55%, to 10,484.37 at the opening bell.

As per the shareholding pattern of the company for the September quarter, Brightstar Investor does not find a mention in the list of public shareholders for 3M India. However, in the June quarter, the firm held 1,66,700 shares, equivalent to a 1.48% stake in the company.

"I am hopeful that the real estate sector will start doing better. The affordability index, despite high interest rates, is quite low and that is the starting point for most real estate companies when it comes to booking their sales"

In an exchange filing, the company informed about the meeting of the board of directors scheduled for Wednesday, 19th October, for considering the unaudited financial results (both Standalone and Consolidated) for September and also the payment of interim dividend, if any, for the financial year 2022-23.