Here are the top stories this evening:
Worries on high inflation dominated MPC meet, show minutes
Majority of the Monetary policy committee (MPC) members emphasised on the rising risks of a persistently high inflation in the last round of monetary policy meeting, according to the minutes of the meeting released on April 22. While the risks to domestic growth call for continued accommodative monetary policy, inflationary pressures necessitate monetary policy action, RBI Governor Shaktikanta Das said in the minutes.
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Government may reduce LIC IPO size by 40%: Report
The size of Life Insurance Corporation of India’s (LIC) initial public offering (IPO) may be slashed by 40 percent, Bloomberg reported. The government is considering cutting the size from Rs 55,000-60,000 crore to Rs 30,000 crore .
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Government has withdrawn BPCL divestment offer, will come back with a revised plan: Anil Agarwal
The government has decided not to go ahead with the privatisation plan of state-run Bharat Petroleum Corporation Ltd (BPCL) and has told its suitors that it will revise the plan and come to market, according to Anil Agarwal, chairman of Vedanta Resources.
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Taking Stock | Market snaps two-day gaining streak, Nifty ends below 17,200
The equity market snapped its two-day winning streak on April 22 as the benchmark indices declined more than 1 percent amid across-the-board selling. NSE's Nifty50 ended below 17,200 levels.
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Serum stops making COVID-19 vaccines with 200 million doses spare
Serum Institute of India Ltd., the world’s largest vaccine manufacturer and a key supplier of Covid-19 inoculations to developing countries, has stopped making fresh batches of shots after its stockpile grew to 200 million doses amid a global supply glut.
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16 firms in fray for Indian Railways' largest wagon-making order
About 16 companies are vying to get a slice of the largest-ever wagon-making tender floated by Indian Railways, which intends to procure 90,000 wagons over the next three years, a government official told Moneycontrol.
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Gem, jewellery exports rise after COVID-induced sluggishness
Gem and jewellery exports from India have rebounded after a Coronavirus-induced lull in the last couple of years. Provisional data from the Gem and Jewellery Export Promotion Council (GJEPC) show an increase of 54.13 percent in exports in FY22, over the previous year, at $39.14 billion. The exports, hit by the pandemic, had dropped to one of the lowest in recent times -- to $25.39 billion in 2020-21.
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