Moneycontrol Selects: Top stories this evening

A daily round-up of the most interesting articles

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

India GDP numbers beat expectations, January-March growth at 6.1%

For 2022-23 as a whole, the statistics ministry's first provisional estimate has pegged the GDP growth at 7.2 percent, 20 basis points higher than the second advance estimate of 7 percent. At 6.1 percent, the latest quarterly growth number is significantly higher than expectations of 5.1 percent. Read more here.

Govt proposes to offload 3% stake in Coal India via OFS at nearly 7% discount

The Union government on May 31 has proposed to offload 3 percent stake in Coal India Limited via an offer-for-sale (OFS) at discount of 6.7 percent to last closing price of the stock. The size of OFS is around Rs 4,000 crore. Read more here.

Sebi cancels Karvy Stock Broking's registration

The Securities and Exchange Board of India (Sebi) had banned the stockbroking company and its promoters from the market for seven years through its order issued on April 28, 2023. This was done for various violations including misappropriation of clients’ securities and diverting the proceeds from pledging them to the stockbroker’s associate companies. Read more here. 

Key infra sector growth slows down to 6-month low of 3.5% in April

The production growth of eight key infrastructure sectors slowed down to a six-month low of 3.5 per cent in April 2023 due to a decline in the output of crude oil, natural gas, refinery products and electricity. Read more here.

Cabinet approves CITIIS 2.0

CITIIS 2.0 aims to leverage and scale up the learnings of CITIIS 1.0, which was launched jointly in 2018 by the Ministry of Housing and Urban Affairs, French aid agency AFD, the European Union and the Delhi-based National Institute of Urban Affairs, with a total outlay of Rs 933 crore. Read more here. 

8 money changes to watch out for in June 

The Reserve Bank of India (RBI) kept the policy repo rate unchanged in April, but you need to watch whether the pause continues or the central bank raises the rate. The announcement will impact you if you have an existing loan or plan to take one. Read more here. 

Go First case: Delhi HC questions DGCA over different responses to repossession requests by different lessors 

Anjana Gosain, the lawyer appearing for DGCA, reiterated to the court that no application for repossession has been processed as yet on account of the airline going into moratorium on May 10. Gosain further told the court that some applications are shown as rejected in its website over a technical glitch. Read more here.