Discover the top business headlines that are trending across the world today!
The Reserve Bank of India (RBI)'s monetary policy committee on Wednesday kept the repo rate unchanged at 6.5 percent (with a 5:1 majority) for the 10th consecutive time. Also, the committee changed the monetary policy stance from ‘withdrawal of accommodation’ to ‘neutral’ and “to remain unambiguously focused on a durable alignment of inflation with the target while supporting growth". The FY25 GDP projection remains unchanged at 7.2 percent, while the FY25 inflation forecast is at 4.5 percent.
Moreover, the RBI MPC kept the SDF (lower band of the interest rate corridor) unchanged at 6.25 percent, and MSF (upper band of the interest rate corridor) and Bank Rates at 6.75 percent. The cash reserve ratio (CRR) stands at 4.5 percent and the statutory liquidity ratio (SLR) is at 18 percent.
Hindenburg Research recently took a short position at gaming platform Roblox, accusing it of showing inflated metrics. Hindenburg Research alleged that the company has long been lying about daily active users (DAUs) with the number of people visiting its platform. It added that Roblox has inflated the metric of users by 25-42% and engagement hours by more than 100%.
After the allegations, Roblox shares fell as much as 9%.
Notably, Roblox had 79.5 million DAUs, as of June 30. It had benefitted enormously from strong spending on the various games available on its platform.
The PE (private equity) investment inflows into Indian real estate soared high during the third quarter of the calendar year (July-September) 2024, reaching USD 2.2 billion. According to reports, that's 93 percent growth on a sequential basis and is more than double the investment volume recorded in the same period last year. Also, according to Savills India, a global real estate consulting firm, the PE inflows during the January-September period of 2024 stood at US $ 3.9 billion (Rs 32,900 crore), surpassing the investment quantum registered in the year 2023.
As per quarterly data, the industrial and logistics segment ranked first in the list with $ 1.7 billion (Rs 14,400 crore), capturing 77 percent of the total investment volume. It's followed by the commercial office segment, capturing 21% of the overall PE investments.
According to reports, renewable energy company Tata Power is currently seeking bids for wind turbines with a capacity of over 3 Gigawatts (GW), worth over Rs 21,000 crores. This is reportedly part of the company's plan to scale up wind-solar hybrid projects across the country. It's one of the largest wind turbine orders in the industry and is expected to unfold over the next three to five years.
The Economic Times reported that four major original equipment manufacturers (OEMs) – Siemens Gamesa, Senvion India, Envision Energy, and Suzlon Energy - are in the race for the contract. And it will be split into multiple contracts, and the overall requirement could grow to 5 GW over five years.
