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​​A year that saw volume growth drop sharply due to the inflation impact on rural consumption,and profitability bearing the brunt of spiralling commodity prices, most FMCG majorsweathered the storm and managed to report growth in sales and profits.

“Urban India and discretionary branded consumption is doing very well but there is a clear slowdown in the rural parts of the country. But again, that is why India is getting cheap valuations in the rural facing stocks as well. In the stock markets, you pay a very high price for a cheery consensus. ”

Telecom operator, Bharti Airtel, has acquired a strategic stake of around 8 per cent in Lemnisk under its startup accelerator programme for an undisclosed amount.

The ranking model uses machine learning algorithms to predict the probability of an MSME becoming a non-performing asset (NPA) in the next 12 months.

The rating agency expects gross direct premium of general insurance companies to grow by 12% to 15% in the medium term with private insurers continuing to outperform government owned insurers.

In its report on the state of the economy, RBI said that with every passing day, the balance of risks gets increasingly tilted towards a darkening global outlook for 2023.

The GST claim, made by the Directorate General of GST Intelligence (DGGI), relates to the dispute settlement involving $1.27 billion in payments to the Japanese telecommunications company. Tata Sons, the holding entity for the conglomerate, has challenged the claim of GST liabilities on the payments made, having earlier sought government intervention in the matter.

The company will first transfer its cargo undertaking to a newly created subsidiary. The unit, SpiceXpress, will then issue compulsorily convertible debentures (CCDs) to the parent, said the people cited above. Then, SpiceJet will offer lessors the option to swap lease payments with the CCDs.

The move to strengthen and scrutinize the regulations come amid the corporate governance allegations against erstwhile members of India’s biggest stock exchange, the National Stock Exchange, including former MD and CEO Chitra Ramakrishna.

About 15 minutes into trading, the tech-rich Nasdaq Composite Index slumped 0.8 percent to 10,462.61, while the broad-based S&P 500 dipped 0.4 percent to 3,801.88.