Moneycontrol Selects: Top stories this evening

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Here is a collection of the most important stories this evening:

Failure to check inflation | MPC meets to draw up report for govt

The Reserve Bank of India (RBI) on November 3 said a separate meeting of the Monetary Policy Committee (MPC) was held to discuss and draft the inflation report to be sent to the government by the central bank.

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Bank of England raises its benchmark rate by 75 basis points

The Bank of England has announced its biggest interest rate increase in three decades as it tries to beat back stubbornly high inflation fueled by Russia's invasion of Ukraine and the disastrous economic policies of former Prime Minister Liz Truss. The bank boosted its key rate by 75 basis points on Thursday, to 3 percent, after consumer price inflation returned to a 40-year high in September.

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Imran Khan was shot in leg during rally in Pakistan; condition stable

Pakistan's former prime minister Imran Khan has sustained a bullet injury on his leg after a gunman opened fire at a container truck carrying him on November 3, a senior leader from his party and police said, reported news agency Associated Press. However, reports pouring in have stated the former Pakistan PM is in stable condition.

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Yes Bank expects to close stressed asset sale to JC FLowers ARC by month-end: CEO Prashant Kumar
Private sector lender Yes Bank is expecting to close its stressed asset sale to JC Flowers ARC by the end of November, a top official said on Thursday. The transfer of dud loans of over Rs 48,000 crore to the asset reconstruction company (ARC) will happen by November, the lender's chief executive and managing director Prashant Kumar told reporters.

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HPCL Q2 result | Net loss at Rs 2,172 crore, revenue down 5% QoQ

State-owned oil retailer Hindustan Petroleum Corporation (HPCL) on November 3 reported a standalone net loss of Rs 2,172 crore for the quarter ended September 2022, against a loss of Rs 10,197 crore recorded in the June quarter. The company’s revenue declined 5.3 percent sequentially to Rs 1.08 lakh crore from Rs 1.14 lakh crore in the June quarter. However, revenue jumped 30 percent year-on-year.

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HDFC's net profit rises 18% in Q2 on robust loan growth

Mortgage lender Housing Development Finance Corporation Ltd (HDFC) reported a net profit of Rs 4,454.24 crore for the July-September quarter, a year-on-year (YoY) increase of 17.8 percent on the back of robust loan growth. HDFC’s loan book grew 16 percent YoY on asset under management basis. The individual loan book grew by a faster 20 percent to Rs 5.89 lakh crore, the lender said in a release. This is the fastest individual loan book growth in eight years for the lender.

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Bikaji Foods IPO: How traditional savouries captured the organised packaged snacks market in India

The upcoming initial public offering (IPO) of Bikaji Foods has put the spotlight on the huge inroads made by traditional snacks in the organised packaged snacks segment. With the introduction of packaging and processing along with the consumer preference for local taste, Indian brands have significantly picked up the pace. Know about the brand's market share and a few factors that have led to the growth of traditional savoury snacks in India.

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