Tue, Nov 19, 2024 3:17 PM
Gold hits 1-week high as safe-haven demand returns, but still down 4.4%
A Flip by Avya Verma
Bharat Forge is in contract negotiations with the Indian Ministry of Defence for the Advanced Towed Artillery Gun System, with discussions expected to conclude before the end of the 2024-25 financial year. The company's revenue remained flat, with a 4.4% increase in net profit and a 3% increase in EBITDA.
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Bengaluru-based real estate firm RMZ Corporation's subsidiary RMZ Digital Infrastructure Partners on November 19 announced a joint venture with British firm Colt Data Centre Services, marking their entry into the data centre space. They will invest $1.7 billion, a mix of debt and equity, to develop three data centres, two of which are under construction in Navi Mumbai and Chennai.
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Finance Minister Nirmala Sitharaman has called for a reduction in the benchmark repo rate by the Reserve Bank of India (RBI), citing the need for "affordable" bank interest rates to support industries. This comes as the RBI's Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5% in October, but may consider a rate cut in December if inflation concerns abate.
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