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Moneycontrol Selects: Top stories this evening

Our specially curated package of the most interesting articles to help you stay at the top of your game.

November 25, 2022 / 07:09 PM IST
Most important news stories at Moneycontrol Selects (Representative Image)

Most important news stories at Moneycontrol Selects (Representative Image)

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

Adani Enterprises to raise up to Rs 20,000 crore via selling new shares

Adani Enterprises Ltd. seeks to raise 200 billion rupees ($2.5 billion) by selling new shares as billionaire Gautam Adani’s flagship firm looks to increase its free float and improve leverage ratios.

Read here to know more

Lithium’s 1,200% frenzy tempered by blip in China’s EV market

Lithium has run into a soft patch as its extraordinary two-year gain collides with signs of wariness over near-term demand from China’s electric vehicles. Lithium prices in China have about tripled over the past year, according to data from Asian Metal Inc., and rallied more than 1,200% since 2020 as supply struggles to match rampant demand.

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Centre releases Rs 17,000 crore GST compensation to states for April-June

The central government has released Rs 17,000 crore to states as Goods and Services Tax (GST) compensation for April-June, the finance ministry said on November 25. The funds were released on November 24, a day before Union Finance Minister Nirmala Sitharaman met her state counterparts in the Capital to take their inputs and suggestions for the upcoming Budget for 2023-24, expected to be presented on February 1.

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Government seeks to shrink fiscal deficit by at least 50 bps

India wants to narrow its budget deficit by at least 50 basis points, according to people familiar with the matter, as authorities balance global investor scrutiny with the need for higher spending as the nation enters an election year.

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Coal India clocks 400 MT production in record time

Coal India Limited (CIL) has clocked its quickest 400-million-tonne coal production for any fiscal year in the state-run company's history, it said on November 25. CIL also added that it expects coal production to further increase in the coming months to hit its target of 700 MT in FY23.

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More than Rs 1,000 crore of IPOs to hit Dalal Street next week

More than Rs. 1,000 crore of Initial Public Offerings (IPOs) will open for subscription next week, keeping the primary market engaged towards the end of a month that has been the busiest since May. The IPOs by Dharmaj Crop Guard and Uniparts India will be the last of November, a month that has already seen eight companies raise nearly Rs 9,500 crore via initial share sales.

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A great deal for Bisleri, but will it be one for Tata Consumer, too?

Tata Consumer Products Ltd’s likely acquisition of packaged water brand Bisleri is the topic that is all the rage in Indian market circles now. Ramesh Chauhan is trying to sell the brand he acquired half a century ago for Rs 4 lakh to Tata Consumer for Rs 7,000 crore. For the Tata group, it will mean venturing into a whole new growth market.

But is it really a great deal for the Tata group company?

Read here to know more
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