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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.

August 04, 2022 / 07:37 PM IST
Here are the most interesting articles this evening (Representative image)

Here are the most interesting articles this evening (Representative image)

Here are the top stories this evening:

SEBI orders forensic audit of Future Retail’s statements

The Securities and Exchange Board of India (SEBI) has ordered a forensic audit into the financial statements of Future Retail for the FY20, FY21 and FY22. The audit of Future Retail's related party transactions will be conducted in relation to Future Supply Chain, Future Enterprises, and Future Consumer.

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Taking Stock: Market ends lower after 6 days of gains; all eyes on RBI policy tomorrow

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The Indian equity market ended lower on August 4 snapping its six-day winning streak, a day before the Reserve Bank of India (RBI) announces the monetary policy. At Close, the Sensex was down 51.73 points or 0.09% at 58,298.80, and the Nifty was down 6.20 points or 0.04% at 17,382. Headed by RBI Governor Shaktikanta Das, the MPC is scheduled to announce its decision on August 5 at 10:00 am.

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In Charts | Movement of key data since RBI's June 8 monetary policy decision

Moneycontrol takes a closer look at the movement of five key indicators since the MPC last met in June, when it voted to increase the repo rate by 50 basis points to 4.9 percent.

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SBI Q1 Preview: Net profit seen 16% up but treasury could be a drag

State Bank of India (SBI) is expected to report robust balance sheet growth, improvement in asset quality and healthy core interest income for the June quarter. Treasury operations could prove to be the Achilles’ heel of the country’s largest lender in the quarter ended June, for which it will report its earnings on August 6. An average of the estimates by 10 securities firms shows that SBI’s June quarter net profit would be Rs 7,495 crore, up 16 percent year-on-year.

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Govt says sufficient coal stock available at power plants to run them for an average of 11 days

The Central government on August 4 said that there is sufficient coal available at thermal power plants to run them for an average of 11 days. In a written reply in the Lok Sabha RK Singh, the minister of power and new and renewable energy, said that as of July 27, 29.5 million tonne of coal stock available was available at thermal power plants across India.

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Adani Group to acquire Macquarie's portfolio of roads for Rs 3,110 crore

The Adani Group said on August 4 that it has entered into an agreement to acquire a portfolio of toll roads put up for sale by Macquarie for Rs 3,110 crore. Adani Road Transport, a subsidiary of Adani Enterprises, will acquire Gujarat Road and Infrastructure Company and Swarna Tollway for around Rs 3,110 crore from Macquarie Asia Infrastructure Fund, the company said in a press release.

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Export duty on steel dragging industry, may hurt capex more: Industry officials

The export duty on steel is weighing on domestic manufacturers and they may be forced to reconsider their capital expenditure if the government does not reconsider it, industry officials said. Many officials Moneycontrol spoke to said steel prices were softening in the domestic market due to moderation in input prices, particularly coking coal, and a duty on exports at the time was not necessary.

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