CaratLane recorded a turnover of Rs 2,177 crore for FY 2022-23, and the current transaction thus values the company at almost eight times its FY23 revenue. The deal is expected to be concluded on October 31, subject to approvals.
The latest step comes after official data showed retail inflation, as measured by the consumer price index, soared to a 15-month high of 7.4% in July, up from the previous month's 4.9%. PM Modi, in his I-Day speech, promised to control inflation and minimise the burden on citizens.
Global ratings agency Moody's Investor Service on Friday affirmed India's sovereign rating at Baa3 and retained the outlook as stable citing the country's strong growth and strengthening financial sector. Moody's said the Baa3 rating and stable outlook take into account a curtailment of civil society and political dissent, compounded by rising domestic political risk. It said the eruption of unrest in Manipur illustrated these trends.
PM Narendra Modi on Friday cited two independent reports on income taxpayers to argue that income levels have increased in the country and there is better compliance due to the trust shown by the government.
Borrower loan eligibility could drop while banks and finance companies will be forced to hike the EMI (equated monthly instalments) for some home loans when interest rates rise under the RBI’s new rules. Banks will henceforth have to give borrowers the option of shifting to a fixed rate loan at the time of reset of interest rates.Pandey Reiterates There Is No Going Back On CAS System from Business News Today: Stock Markets, Financial News, India Business & World...
