Chequered Flag Nov. 29: Headlines At A Glance

Today's major headlines reflect key aspects of India's economic landscape, spotlighting slow GDP growth, fiscal challenges, and notable market movements.

GDP Growth Slows To 5.4%

India's gross domestic product (GDP) growth has decelerated to 5.4%, marking the slowest expansion in seven quarters. This figure represents a decline from the 6.7% growth seen in the previous quarter, highlighting potential concerns for the country's economic momentum.

Fiscal Deficit Reaches 46.5% Of FY25 Target

The Union government's fiscal deficit stands at 46.5% of its budget target for the financial year, a position reached by the end of the first seven months. This raises questions regarding fiscal management and discipline.

Eight Core Sectors Grow 3.1% In October

In more positive news, the index reflecting eight core industries experienced a growth rate of 3.1% in October, an improvement from the 2% recorded in September. This suggests a rebound in certain sectors.

Forex Reserves Fall To $656.58 Billion

India's foreign exchange reserves have declined to $656.58 billion as of November 22, according to Reserve Bank of India data. This decrease reflects ongoing volatility in global markets.

Nifty, Sensex Rise for Second Week

The market witnessed a bullish trend as the NSE Nifty 50 closed up by 0.91%, adding 216.95 points to reach 24,131.10. Similarly, the BSE Sensex rose by 0.96%, equating to an increase of 759.05 points, closing at 79,802.79. This marks a positive trajectory for the indices over the past two weeks.

RBL Bank, Bajaj Finance Stop Issuing New Co-Branded Credit Cards

In a significant move, RBL Bank and Bajaj Finance have announced the suspension of new issuances for their co-branded credit cards, a decision that may affect many customers and transactions.

Aster DM, Quality Care To Merge

Aster DM Healthcare is set to merge with Quality Care India, which is backed by Blackstone and TPG. This merger will take place through a share-swap agreement, signifying consolidation in the healthcare sector.

Cipla Promoters To Exit Via Rs 2,000-Crore Block Deal

Promoters of Cipla, Samina Hamied and Rumana Hamied, are planning to exit the company by offloading shares worth Rs 2,004 crore through a block deal scheduled for Monday. This exits marks a significant shift in the company's ownership structure.

These headlines illustrate a complex picture of economic performance and market dynamics, reflecting both challenges and growth opportunities in India today.

GDP, Fiscal, Forex, Markets, Companies