Here are the top stories this afternoon:
Union Cabinet approves one-time compensation to OMCs on LPG
The Union Cabinet approved one-time compensation to state-run oil marketing companies for liquefied petroleum gas (LPG). The govt is also mulling compensation to state-run OMCs, such as Indian Oil Corp to compensate them for their losses. The decision on the same is likely to be announced officially at today's Cabinet briefing at 3 PM.
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Delta Corp shares rise slightly as Q2FY23 numbers surpass pre-COVID levels
Shares of Delta Corp rose marginally in early trade today but then slipped 2 percent, even after the company recorded highest consolidated revenue of Rs 651 crore and net profit of Rs 125 crore for the half year of FY 2022-23. For Q2FY23, the company recorded 19.5 percent sequential growth in consolidated profit at Rs 68.25 crore.
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Metals Sector Q2 Preview | Melting realisations, soaring export levy to weigh
The metals sector faced the double whammy of a decline in realisations in the domestic market due to the global meltdown in commodity prices while the exports were hit by the export duty imposed in May. The industry is also reeling under the impact of rising costs of production
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CPI inflation seen rising to 7.3% in September: Moneycontrol Poll
According to a Moneycontrol poll of 18 economists, inflation - as measured by the Consumer Price Index (CPI) - rose for the second month in a row to a five-month high in September. The Ministry of Statistics and Programme Implementation will release retail inflation data for September later today at 5.30 pm.
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Fireside Ventures is latest India-dedicated VC to raise its largest-ever $225-million fund
Fireside Ventures has marked the final close of largest-ever its $225 million fund, joining a growing list of India-dedicated private equity and venture capital (PE/VC) firms to raise sizable capital amid a funding winter. The Fireside Fund III will invest only in new companies and plans to back 25-30 startups over the next three years.
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Travel and tourism on a swing as airline tickets price spike 40% ahead of Diwali
Ahead of Diwali, flight searches for travel between October 19 and October 24, have witnessed a 124 percent rise for domestic flights in India. For international destinations, flight searches were up by 133 percent higher than the pre-pandemic levels. In the same period, however, airfares have risen by nearly 40 percent.
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