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Mindtree-Larsen &amp; Toubro Infotech Merger: It's a mammoth merger! The L&amp;T Group has formally announced the operationalisation of the merger of Mindtree with LTI (Larsen &amp; Toubro Infotech). With this, the new entity i.e. LTIMindtree has become the country's 5th largest software firm with a revenue of USD 5.25 billion this year.

LTIMindtree will begin trading from November 24.

LTIMindtree: 5th largest software company in terms of market capitalisation

Announcing the merger with immediate effect, group chairman AM Naik said that LTIMindtree will be the 5th largest software company in terms of market capitalisation (Rs 1.53 lakh crore of Monday closing).

LTIMindtree: 90,000 employees; ahead of Tech Mahindra and closer to Wipro

<blockquote class="twitter-tweet">
Mindtree is now LTIMindtree! Follow us on <a href="https://twitter.com/LTI_Global?ref_src=twsrc%5Etfw">@LTI_Global</a> to know how we are getting businesses to future, faster. Together. <a href="https://twitter.com/hashtag/LTIMindtree?src=hash&amp;ref_src=twsrc%5Etfw">#LTIMindtree</a> <a href="https://twitter.com/hashtag/FutureFasterTogether?src=hash&amp;ref_src=twsrc%5Etfw">#FutureFasterTogether</a> <a href="https://twitter.com/hashtag/WeAreLTIMindtree?src=hash&amp;ref_src=twsrc%5Etfw">#WeAreLTIMindtree</a> <a href="https://t.co/7C4EAa8Vlu">pic.twitter.com/7C4EAa8Vlu</a>
— Mindtree (@Mindtree_Ltd) <a href="https://twitter.com/Mindtree_Ltd/status/1592149549002686464?ref_src=twsrc%5Etfw">November 14, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

-It will have 90,000 employees on its rolls, taking the overall headcount of the software businesses to 1.2 lakh, which includes that of LTTS, spread across in over 30 countries across five continents.

-The new company will be headquartered in Mumbai, and will be independent of L&amp;T, which will also mean that the head of the new entity will not be on the board of L&amp;T, said Naik, who is the chairman of the new entity while L&amp;T chief executive SN Subrahmanyan will be vice-chairman.

-Naik also said, L&amp;T will continue to hold 68.73 per cent in the merged entity.

-At the current market value on Monday closing, the new entity will have an mcap of Rs 1,52,672.23 crore, placing it much ahead of Tech Mahindra and closer to Wipro.

- Of the current mcap, LTI's share is Rs 90,527.45 crore, after closing over 2 per cent up at Rs 5,161.20 on the BSE, and that of Mindtree is Rs 62,144.78 crore, after gaining nearly 3 per cent at Rs 3,766.35.

-As against this, the industry leader TCS commands a market value of Rs 12.2 lakh crore, followed by Infosys at Rs 6.66 lakh crore, HCL (Rs 2.98 lakh crore) and Wipro (Rs 2.17 lakh crore) and Tech Mahindra at a low Rs 1.03 lakh crore.

-Under the merger scheme, wherein Mindtree will cease to exist, a Mindtree shareholder will get 73 LTI shares for every 100 share he/she owns and the record date for share allocation is November 24, said Naik.

"This year, the combined entity is likely to close with a top-line of USD 5.25 billion, including that of the engineering services under LTTS. We expect this to touch USD 6.2-6.3 billion next fiscal. LTIMindtree alone will have a top-line of USD 5 billion," Naik said, adding LTTS revenue exceeds USD 1.5 billion now.

-Without proffering profit numbers, Naik said traditionally both the companies have been booking 14.5-15 per cent in net margin and we hope not only to sustain this but further improve this as we work as single entity.

-The internal target is have the software services verticals fetching at least 26 per cent of the group revenue by FY26, Naik said but did not disclose how much is the share now.

-While LTI has over 400 clients now, Mindtree, which L&amp;T took over through a hostile bid in 2019 for over Rs 11,000 crore, serves over 300 clients, and both companies earn 70 per cent of their revenues from North America, and Debashis Chatterjee, the chief executive and managing director of LTIMindtree, said the revenue share will continue to remain so.

-The two companies announced the merger in May 2022 and the operationalisation of the merger follows the approvals from the Mumbai and Bengaluru NCLT benches. The company clarified that it does not need the approval of the fair trade watchdog CCI.

-The merger is to up-sell and cross-sell and reap the benefits of the synergies each company has. Cost savings is not the immediate priority as the focus now is to integrate the HR, sales, marketing and branding and ramp up revenue. We see 1-1.5 per cent cost savings, though near-term, Naik and Chatterjee said.

- LTIMindtree is integral to L&amp;T's technology-led growth vision and is poised to play a crucial role in the expansion and diversification of our services portfolio. The complementary strengths of LTI and Mindtree make this integration a win-win for all the stakeholders, furthering our tradition of innovation, excellence, and trust, Naik said.

-SN Subrahmanyan, chief executive of L&amp;T, and vice-chairman of LTIMindtree, said this integration is much more than just the coming together of two successful companies. It is about turning the collective wisdom of the two companies into a much larger force for creating long-term value for all our stakeholders.

-Chatterjee said they have briefed all their 70-odd clients in advance and they are happy about the merger. By combining their strengths and unlocking the benefits of scale, LTIMindtree will operate with a stronger, diversified portfolio of end-to-end services and skills across a wider market footprint, Chatterjee said.

-A stronger balance sheet will augment the company's ability to make strategic investments in platforms, talent, technologies, and client relationships. All this will help us create a more distinctive value proposition for its clients who number around 750 now, teams, and communities at large, Chatterjee said.

Timeline

- In March 2019, L&amp;T announced a takeover bid on the Bengaluru-based Mindtree, promoted by N Krishnakumar, NS Parthasarathy, Subroto Bagchi and Rostow Ravanan, who along with their families owned 13.32 per cent in the firm.

- And in June, L&amp;T completed an open offer at Rs 980 a share and took 60 per cent control after it could buy out the 20.4 per cent stake held by the coffee baron VG Siddhartha and his affiliate firms.

- Combined L&amp;T has paid close to Rs 11,000 crore for the takeover, including the Rs 4,988.82 crore paid in the open offer for buying the 31 per cent additional stake at Rs 980 a share.

Against Moonlighting

-Chatterjee said they are against moonlighting by its employees and will completely ban it once the present hybrid model of work ends and all the staff rerun to offices. He also said the pre-merger hiring plans announced by each company will continue and the new entity will honour all the offer letters.

Attrition?

-On the high attrition in the sector, wherein Mindtree has a higher churn level than the industry, Naik said ideally when the current boom ends as the companies are cutting costs across the board, the industry-level employee churn should come down by 4-5 percentage points from the present 23-24 per cent.

-Chatterjee said the merger is built on the premise of combining the synergies, and so the first impact will be on revenue and profit and cost savings will more be back-ended and not front-ended, which should in the near term be 1-1.5 per cent.

Special Dividends?

-On a question on any special dividends for shareholder, he said, both companies have been offering 35-40 per cent of the free cash flow in shareholder payouts in the past the same will continue even after merger.

(With PTI inputs)

LTIMindtree: 90,000 employees; market cap ahead of Tech Mahindra and closer to Wipro.


Mindtree-Larsen & Toubro Infotech Merger: LTIMindtree - 90k employees, Rs 1.53 lakh cr m-cap, 5th largest IT firm and more - TOP THINGS

Buying a dream home is not an easy task as it is considered one of the biggest financial investments of a lifetime.&nbsp;You have to find the right location, builder, lender for home loans, etc. so that the realty deal turns out to be a profitable one. Moreover, finding an affordable home can be difficult with low inventory in many local markets and rising home prices nationwide. Amid all this, between the euphoria of purchasing a home and the stress of its financial implications, a first-time buyer is prone to making mistakes. Anurag Goel, Director, Goel Ganga Developments, sheds light on homebuying deals and lists 5 common mistakes that first-time buyers make and how to avoid them.

Failing to fix a budget

"The biggest mistake potential homebuyers make is not having a specific home purchase plan in place. The first consideration is your financial capacity. If you don't know how much you can afford to spend on a house, you'll be in big trouble later, especially if your home consumes all of your earnings. It all starts with a budget, which is created after taking into account other major expenses, especially if you have other loans to repay," Anurag Goel said.

Inadequate research

"Research will help you understand the kind of projects in the market. The best way to begin the quest is to do adequate research. Identifying the right locality for your needs, estimating the prices in said area, having a general idea of reliable builders, having a basic understanding of interiors and construction etc will go a long way in protecting newbies from making rookie mistakes," he added.

Not comparing home loans

"The interest rate is the most important factor to consider when choosing a lender. However, there are several other factors to consider. Given that you will be spending a significant portion of your working life repaying this debt, a home loan product should be chosen after extensive research and due diligence," he further explained.

Not checking loan eligibility

"One should not proceed with the purchase unless the financial status is well understood. A typical purchase requires a down payment ranging from 10 to 25 percent of the actual value, the remaining amount availed as a loan from banks. It's a good idea to get pre-approved for a loan to determine your loan eligibility. This will give you an idea of your financial capacity and will aid you in your home search," he opined.

Ignorance about tax benefits

"Few people are aware of the taxes they must pay when purchasing a home, as well as the rebates available under various sections of the Income Tax Act. Not paying the taxes on your home purchase would be considered tax evasion, and failing to properly claim the rebate would result in financial losses," he concluded.

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by experts. Zee Business suggests its readers to consult with their advisors before making any financial decision.)&nbsp;

&nbsp;

Finding an affordable home can be difficult with low inventory in many local markets and rising home prices nationwide.


Real Estate: 5 Common Mistakes 1st Time Home Buyers MUST AVOID 

Born to Shine – ZEE’s flagship CSR initiative in partnership with GiveIndia, has felicitated top 30 girl child prodigies at an event hosted in Mumbai. "It was an evening of celebrating Indian art forms and stories of talented girl child prodigies who will receive support to hone their talent through the scholarship and mentorship program," an official statement said.

The Sarod icons, Amaan Ali Bangash and Ayaan Ali Bangash; ace violinist Dr. Sangeeta Shankar and her daughters, Ragini and Nandini; and the renowned dancer Guru Shubhada Varadkar performed at the event to encourage the winners.

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Punit Goenka, Managing Director and Chief Executive Officer, Zee Entertainment Enterprises Limited, Zarina Screwvala, Managing Trustee &amp; Director, Swades Foundation; Dr. Bindu Subramaniam, Co-Founder &amp; CEO, Subramaniam Academy of Performing Arts; Samara Mahindra, Founder &amp; CEO, CARER; and Rupak Mehta, Founder, Brahmnaad Cultural Society graced the jury panel and were spellbound by the impeccable talent showcased throughout the evening. The prodigies were individually felicitated by the jury members.

Born To Shine

- Launched in May 2022, the scholarship program’s mission is to nurture girl child prodigies and empower them to pursue their talents in the field of art and culture&nbsp;

- The program, open for girl child prodigies between the age of 5 to 15, received more than 5,000 eligible applications across the country and the shortlisted candidates were auditioned across 8 cities&nbsp;

Speaking at the inaugural event, Punit Goenka, MD and CEO, Zee Entertainment Enterprises Limited said, “For us to truly succeed as a Nation, we must nurture girls and their unique abilities, for they are the pride and future of our country! At ZEE, we are humbled to have played a small part in inspiring this change, not only by breaking stereotypes through our content on screen, but even through various social initiatives that champion the cause of women and girls at a grassroot level. ‘Born to Shine’ is yet another effort from our end to enrich the lives of girl children, by being the wind beneath their wings and serving as a springboard to their success. I truly hope that this initiative helps the 30 selected girl child prodigies pursue their passion and achieve immense success; and as a result, give the rich arts and culture across our country, a new lease of life.”

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The evening was dedicated to celebrating the beauty and the different hues of Indian art and culture. Speaking on the occasion, an overwhelmed Dr. Bindu Subramaniam said, “I think talent is prevalent everywhere, and what children need are opportunities. I think Born to Shine is a great way to find and mentor talent from underserved communities, which is something that I and SaPa have always felt is important. I’m grateful to be able to contribute to this project and can’t wait to meet the talent that is out there.”

Samara Mahindra was all praises for the parents who dedicate their lives to mentor and mould their child’s talents into a sustainable and refined form. “Indian culture is one of the oldest in the world and can be traced back to pre-historic settlements as early as the 3rd millennium. Programs like these which encourage the youth are imperative to give the fine arts system the importance it deserves. Additionally, it’s essential to help stay connected with our roots and take pride in doing so.”

Zarina Screwala expressed," I would like to congratulate ZEEL and GiveIndia for this one-of-a-kind scholarship program that aims at empowering young girls to pursue art and culture. Art is not objective, with a set algorithm to deliver the end product. It encompasses a lot of intangibles like imagination, empathy, perseverance, and patience. I hope that with endeavours like Born To Shine, our society starts accepting artforms as a career option soon!

Rupak Mehta added, "In today's dynamic world, ideas like BORN TO SHINE are the need of the hour because these young talented minds need a professional setup and mentoring to sustain their art in the longer run. This scholarship and the mentorship program are like a blessing!&nbsp;

"Talents have been revered and celebrated for eons in our culturally rich nation. But, not many have come forward to champion a cause for girls, especially for the ones who show immense promise at an early age. ZEE’s flagship CSR program - Born To Shine is indeed a harbinger of hope for the aspirants of our society," the statement from ZEE-GiveIndia said. 
&nbsp;

Punit Goenka, Managing Director and Chief Executive Officer, Zee Entertainment Enterprises Limited, Zarina Screwvala, Managing Trustee &amp; Director, Swades Foundation; Dr. Bindu Subramaniam, Co-Founder &amp; CEO, Subramaniam Academy of Performing Arts; Samara Mahindra, Founder &amp; CEO, CARER; and Rupak Mehta, Founder, Brahmnaad Cultural Society graced the jury panel and were spellbound by the impeccable talent showcased throughout the evening. The prodigies were individually felicitated by the jury members.


ZEE’s flagship CSR initiative with GiveIndia: Born To Shine announces its 30 prodigy winners - Scholarship and mentorship

Old Pension Scheme vs New Scheme: Old Pension Scheme (OPS) has emerged as a key issue in the poll-bound Himachal Pradesh Assembly Elections 2022. Eyeing a comeback in the hill state, the Congress party has promised to restore the old pension scheme (OPS), if voted to power in Himachal Pradesh after the November 12 assembly polls in the state. Countering the&nbsp; Congress, Himachal Pradesh Chief Minister Jairam Thakur has said the grand old party is making the old pension scheme a political issue. Thakur had asserted that the opposition party has no moral right to seek its restoration as it had not done so when it was in power in the hill state.

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Many people are debating the old pension scheme, which has emerged as a key election issue. Most of people feel that the OPS will benefit retired employees in a big way, but, some say how the government will generate resources for it.

<h2>Old Pension Scheme (OPS)</h2>

- The old pension scheme was discontinued in the country from April 1, 2004

- Under Old Pension Scheme (OPS), the entire pension amount was given by the government

<h2>New Scheme: National Pension System</h2>

- According to the new scheme, employees contribute 10 per cent of their basic salary towards pension while the state government contributes 14 per cent.

- There are about 2.5 lakh government employees in the state, and out of them 1.5 lakh are covered under the New Pension Scheme.

- There have been protests earlier by employees' associations against the new pension scheme.

<h2>War Of Words: BJP vs Congress - Old Pension Scheme</h2>

Chief Minister Jairam Thakur had alleged that Congress was making the old pension scheme a political issue. He demanded the party's apology, claiming it has no moral right to seek its restoration after ending the old pension scheme and implementing the National Pension Scheme.

Hitting back, Congress leader Rajeev Shukla said, "They are trying to mislead. The BJP was in power when on April 10, 1999, the old pension scheme was ended. They speak lies". He exuded confidence that the Congress will wrest power from the BJP in the hill state.

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<h2>Himachal Pradesh Assembly Election 2022: Polling, Results</h2>

- Polling to the 68-member Himachal Pradesh Assembly will be held on Saturday

- In the voting scheduled from 8 AM to 5 PM on Nov 12, the Election Commission has set up a total of 7,884 polling stations including three auxiliary polling stations in far flung areas. Of these, there are 789 vulnerable booths and 397 critical ones.

-The EC has also set up its highest booth in Tashigang in Kaza in Spiti area of Lahaul Spiti district of the state at a height of 15,256 feet and would cater to 52 voters.

- Polling to the 68-member Himachal Pradesh Assembly will be held on Saturday.

&nbsp;-The counting of votes will be taken up on December 8.

Old Pension Scheme vs New Scheme Issue In Himachal Pradesh Elections Results 2022: Many people are debating the old pension scheme, which has emerged as a key election issue. Most of people feel that the OPS will benefit retired employees in a big way, but, some say how the government will generate resources for it.


DECODED: Will burning issue of old pension scheme impact the high-octane Himachal poll battle result? How OPS is different from NPS? 

Jaipur Greater Nagar Nigam Municipal Corporation Mayor Election Result, Counting News: The polling for the post of Jaipur Greater Municipal Corporation mayor is underway on Thursday. The BJP has nominated Rashmi Saini as its candidate while Hema Singhania will contest for the Congress in the bypoll, necessitated by the disqualification of Somya Gurjar as mayor. Polling started from 10 am and will conclude at 2 pm after which counting of votes will start and the results declared, according to the State Election Commission. Elected representatives will vote in the bypoll. Councillors of the BJP and Congress were camping at different hotels to prevent horse trading. Gurjar was disqualified as Jaipur mayor in September after a judicial inquiry found her guilty of misbehaving with commissioner Yagyamitra Singh Deo and preventing him from official work. Here are all the DETAILS on Jaipur Greater Nagar Nigam Municipal Corporation Mayor Election Result, Counting News and BJP's Rashmi Saini vs Congress' Hema Singhania poll battle:-

- The polling for the post of Jaipur Greater Municipal Corporation mayor is underway on Thursday.

- The BJP has nominated Rashmi Saini as its candidate while Hema Singhania will contest for the Congress in the bypoll, necessitated by the disqualification of Somya Gurjar as mayor.

- Polling started from 10 am and will conclude at 2 pm after which counting of votes will start and the results declared, according to the State Election Commission.

- Elected representatives will vote in the bypoll.

-Councillors of the BJP and Congress were camping at different hotels to prevent horse trading.

- Gurjar was disqualified as Jaipur mayor in September after a judicial inquiry found her guilty of misbehaving with commissioner Yagyamitra Singh Deo and preventing him from official work.

Jaipur Greater Nagar Nigam Municipal Corporation Mayor Election Result, Counting News: The BJP has nominated Rashmi Saini as its candidate while Hema Singhania will contest for the Congress in the bypoll, necessitated by the disqualification of Somya Gurjar as mayor.


Jaipur Greater Nagar Nigam Municipal Corporation Mayor Election - BJP vs Congress

LIVE: Quarterly Results Today - Q2 Earnings Latest News, UPDATES: Quarterly Results and Q2FY23 earnings of many big business entities were announced on Wednesday i.e. 9th November 2022. Q2FY23 results of these companies were highly anticipated in the wake of developments that unfolded in the last September Quarter of FY23. Q2FY23 Earnings of&nbsp; Tata Motors, BEML, Godrej Properties, Nalco, Bajaj Consumer Care, Gateway Distriparks, Piramal Pharma, Ramco Cements, ORIENT CEMENT, Snowman Logistics and others were announced on Wednesday i.e. 9th November 2022. Here are all the DETAILS, Latest News on Quarterly Results, Q2FY23 earnings announcements and September Quarter FY 23 Financial Details:-

<h2>TD Power Systems Q2 net profit rises to Rs 20 crore</h2>

TD Power Systems on Wednesday posted a nearly 24 per cent rise in its consolidated net profit to Rs 19.90 crore in the September quarter mainly due to lower expenses.

The consolidated net profit of the company was Rs 16.05 crore in the year-ago period, according to a regulatory filing.

Total income of the company declined to Rs 219.01 crore in the second quarter of the current fiscal from Rs 230.06 crore in the corresponding period last year.

Total expenses of the company dipped to Rs 192.28 crore in July-September period from Rs 208.82 crore last year.

<h2>Nalco Q2 profit dips 83.2 pc to Rs 125.43 cr</h2>

National Aluminium Company Ltd (Nalco) on Wednesday reported an 83.2 per cent decline in consolidated profit at Rs 125.43 crore for the quarter ended September 30, on the back of higher expenses and lower income.

The company had posted a consolidated profit of Rs 747.80 crore in the year-ago period, Nalco said in a regulatory filing.

The consolidated income of the company during the July-September period dropped to Rs 3,558.83 crore, over Rs 3,634.59 crore in the year-ago period.

The consolidated expenses of the company during the second quarter increased to Rs 3,312.95 crore, over Rs 2,618.52 crore in the year-ago period.

Nalco, a navratna CPSE, is one of the largest integrated bauxite-alumina-aluminium-power complexes in the country. At present, the centre holds 51.28 per cent of paid up equity capital.

<h2>Gateway Distriparks Q2 PAT rises 27 pc to Rs 60 cr</h2>

Integrated inter-modal logistics operator Gateway Distriparks Ltd on Wednesday reported a 27 per cent growth in consolidated profit after tax (PAT) at Rs 59.53 crore for the second quarter of this fiscal.

The company had posted a consolidated PAT of Rs 46.90 crore in the quarter ended September 30, 2021, Gateway Distriparks Ltd (GDL) said in a statement.

Its total revenue (Rail and Container Freight Stations) rose 6 per cent to Rs 361.91 crore in the reporting quarter as against Rs 341.50 crore in the second quarter of the previous fiscal.

Rail revenue increased 8.61 per cent to Rs 278.53 crore in Q2 FY23 over Rs 256.46 crore in the year-ago period, while Container Freight Stations (CFS) revenue declined 1.95 per cent to Rs 83.38 crore.

The total throughput during the quarter dipped 3.22 per cent at 182,975 TEUs (Twenty-foot Equivalent Units) as against 189,054 TUEs handled during the same quarter of FY22.

"In September, the company acquired 30 acres of land for a greenfield ICD (Inland Container Depot) at Jaipur, for which the construction has already started. The company has also signed a Share Purchase Agreement for acquisition of an ICD in Kashipur, which is expected to close by December 2022.

"With these two new terminals, our presence will grow to 11 locations across India and will lead to an increase in our volumes and profitability," said Prem Kishan Dass Gupta, chairman and managing director, GDL.

<h2>Piramal Pharma posts net loss of Rs 37 cr in Q2</h2>

Piramal Pharma on Wednesday reported a consolidated net loss of Rs 37 crore for the second quarter ended September, as against a net profit of Rs 37 crore in the year-ago period.

However, the company's revenue from operations grew to Rs 1,720 crore during the July-September quarter, from Rs 1,578 crore in the corresponding period of the previous fiscal.

Nandini Piramal, Chairperson, Piramal Pharma Limited said, "We announce our first results post demerger as an independent and focused pharma company. Over the last 10 years, we have made several strategic choices that have helped nurture and scale our business and establish Piramal Pharma (PPL) as a leading global pharmaceuticals player."

"For the quarter and half year ended September 2022, our business has delivered a resilient performance despite multiple internal and external challenges. We expect to deliver a much improved performance in the second half of the current financial year," she added.

The National Company Law Tribunal (NCLT) had on August 12 this year approved the composite scheme of demerger of the pharma business from Piramal Enterprises Ltd into Piramal Pharma Ltd, and amalgamation of Piramal Pharma's wholly-owned subsidiaries Hemmo Pharmaceuticals Pvt Ltd and Convergence Chemical Pvt Ltd into itself.

<h2>Tata Motors Q2 net loss narrows to Rs 945 cr on improved sales across verticals&nbsp;</h2>

Tata Motors on Wednesday reported narrowing of consolidated net loss at Rs 945 crore for the second quarter ended September 30, as sales picked up in marquee brand Jaguar Land Rover and across domestic as well as commercial vehicle segments.

The auto major had reported a net loss of Rs 4,442 crore, attributable to shareholders of the company, in the July-September period of the last fiscal.

Consolidated net loss for the second quarter stood at Rs 898 crore. It was at Rs 4,416 crore in the year-ago period. 
Total income increased to Rs 80,650 crore in the period under review, as compared to Rs 62,246 crore in the year-ago period, Tata Motors said in a regulatory filing.

On a standalone basis, the company reported a net loss of Rs 293 crore. It had posted a net loss of Rs 659 crore in the year-ago period.

Total income rose to Rs 15,142 crore in the second quarter, as compared to Rs 11,197 crore in the same period last year.

Jaguar Land Rover (JLR), a part of Tata Motors, reported revenues of 5.3 billion pounds in the second quarter, up 36 per cent from the year ago period. Its wholesale volumes (excluding China JV) stood at 75,307 units in July-September period, up 17.6 per cent as compared to the same period last year.

The wholesale increase was lower than planned, primarily due to a lower-than-expected supply of specialised chips from one supplier which could not be readily re-sourced in the quarter, Tata Motors said.

JLR is continuing to focus on signing long-term partnership agreements with chip suppliers which is improving visibility of future chip supply, it said.

"Demand for our most profitable and desired vehicles remains strong and we expect to continue to improve our performance in the second half of the year, as new agreements with semiconductor partners take effect, enabling us to build and deliver more vehicles to our clients," JLR CEO Thierry Bollore stated.

The auto major noted that its commercial vehicle business registered a 15 per cent growth in sales over the second quarter of last fiscal.

For India business, domestic wholesales stood at 93,651 vehicles, up 19 per cent year-on-year. However, exports were at 6,771 vehicles, lower by 22 per cent affected by the financial crisis in few export markets, it said.

"Going forward, we continue to remain in the agile mode and are keeping a close watch on the evolving geopolitical, inflation and interest rate risks on both supply and demand," Tata Motors Executive Director Girish Wagh said. The passenger vehicles business continued its strong momentum with wholesales at 1,42,755 vehicles, up 69 per cent year-on year, amid strong festive demand and debottlenecking actions, the automaker said.

"Demand for passenger vehicles remained strong in Q2 FY23 fuelled by improving supply of semiconductors, festive season and new launches," Tata Motors Passenger Vehicles Managing Director Shailesh Chandra noted.

In electric vehicles, the company posted sales of 11,522 units in Q2FY23, registering a growth of 326 per cent over the same period last year, he added.

"Going forward, we remain vigilant about the evolving demand and supply situation and will stay nimble to take necessary actions swiftly, whilst focusing on improving profitability further," Chandra said.

On overall business outlook, the auto maker stated that demand continues to remain strong, however will remain a key monitorable in wake of global uncertainties.

"Improving chip supply and cooling commodity prices will aid revenue and margins recovery and hence aim to deliver strong improvements in EBIT and free cash flows in H2 FY23," it added.

In a separate filing, Tata Motors said it has notified the New York Stock Exchange on Wednesday of its intent to voluntarily delist its American Depositary Shares (ADS), each representing five ordinary shares of the company, par value of Rs 2 per share.

Since the ADSs were issued in 2004, the company has witnessed a considerable increase in liquidity and foreign shareholder participation in the equity stock markets in India, it added.

Shares of the company on Wednesday closed 0.44 per cent down at Rs 433 apiece on the BSE.

<h2>&nbsp;</h2>

<h2>TeamLease Services turns profitable; posts Rs 31.62 crore net profit in Sept quarter</h2>

Staffing company TeamLease Services on Wednesday reported a consolidated net profit of Rs 31.62 crore in the quarter ended September.

The company had posted a loss of Rs 49.47 crore in the year-ago period.

Revenue from operations rose 28.32 per cent to Rs 1,955.05 crore in the second quarter of the current fiscal. It stood at Rs 1,523.55 crore in the same period of the previous financial year, according to a regulatory filing.

"We had a net headcount growth of 6.5k for the quarter and 16k for the half-year. Headwinds in the IT industry have started impacting the specialised staffing growth and may continue for a while.

"Our HRtech business is gearing up for new sales, product enhancement and digital solutions. Revenue growth and tighter cost control will be the focus areas for the next few quarters," TeamLease Services Managing Director Ashok Reddy said.

Shares of the company closed flat at Rs 2,848.40 apiece on BSE.

<h2>Dhanlaxmi Bank Q2 profit jumps to Rs 16 cr</h2>

Dhanlaxmi Bank on Wednesday reported a multi-fold rise in net profit at Rs 15.89 crore for September quarter 2022-23 on lower provisions for bad loans.

The bank had clocked a net profit of Rs 3.66 crore in the year-ago period. In the previous June quarter, the bank incurred a net loss of Rs 26.43 crore.

Total income increased to Rs 285.26 crore in September quarter from Rs 266.79 crore earlier, Dhanlaxmi Bank said in a regulatory filing.

Interest income rose to Rs 262.50 crore from Rs 229.01 crore. Operating profit was up 35 per cent at Rs 35.35 crore.

Gross non-performing assets (NPAs) of the bank were 6.04 per cent of gross advances at the end of September 2022 as against 8.67 per cent by the year-ago period.

Net NPAs or bad loans were trimmed to 2.32 per cent from 4.92 per cent.

Thus, provisions for bad loans and contingencies fell to Rs 19.46 crore for the quarter, as against Rs 22.60 crore set aside for the year-ago period.

Dhanlaxmi Bank said it has recovered Rs 3.32 crore from one account during this financial year after fraud classification.

In a separate filing, the bank said its Extraordinary General Meeting (EGM) scheduled for November 12, 2022, is being cancelled.

Requisitionists holding more than 10 per cent of equity shares of the bank have agreed to withdraw the special notice dated September 26, 2022, it added.

Bank's NRI businessman shareholder B Ravindran Pillai along with other members through a requisition had called for an EGM to suspend capital and revenue expenditure related powers of the MD &amp; CEO of Dhanlaxmi Bank.

In the requisition dated September 26, 2022, the shareholders led by Pillai said in the EGM in June, they had expressed serious concern over the poor performance of the bank and heavy expenditure.

They said the MD had assured them that immediate steps would be taken to rectify the anomalies. However, in spite of the verbal assurance of the MD, it was alarming to note that the bank registered heavy loss in Q1FY23.

"The MD continues with his luxury of incurring expenditure like engaging high-cost advocates for avoidable litigations thrust upon the bank, claiming huge incentives for himself recruiting new personnel, opening of new branches etc without objective analysis of the workload of the executives," they said in the requisition.

Presently, Shivan J K is Managing Director and Chief Executive Officer of the Thrissur-based private sector lender.

In September 2020, RBI had appointed its General Manager D K Kashyap on the board of the bank for two years.

The bank was put under the Prompt Corrective Action (PCA) Framework by the RBI in November 2015 due to deteriorating financial health and it came out of these restrictions only in 2019.

Bank unions AIBOC and AIBEA had flagged concerns over few developments at Dhanlaxmi Bank and sought immediate corrective measures by the RBI.

Besides, the All India Bank Employees' Association (AIBEA) had urged the RBI governor to intervene into the affairs of Dhanlaxmi Bank which it alleged is headed in the wrong direction.

Dhanlaxmi Bank stock settled at Rs 15.22 on BSE, down 0.46 per cent from the previous close.

<h2> 
Bajaj Consumer Care Q2 net profit dips 32 pc to Rs 32 crore</h2>

FMCG firm Bajaj Consumer Care Ltd on Wednesday reported a decline of 31.93 per cent in its consolidated net profit at Rs 31.65 crore for the second quarter ended September.

The company had reported a net profit of Rs 46.50 crore in the July-September quarter a year ago, said Bajaj Consumer Care, part of the Bajaj Group of Companies, operating in the beauty care category.

Its total revenue from operations rose 8 per cent to Rs 232.45 crore during the period under review. It was Rs 216.17 crore in the corresponding period of the preceding fiscal, according to a regulatory filing.

Total expenses of Bajaj Consumer Care, which owns brands such as Almond Drops Hair Oil, Brahmi Amla and Nomark, in the September quarter climbed 20.08 per cent to Rs 203.96 crore.

Shares of Bajaj Consumer Care Ltd on Wednesday settled at Rs 157.65 apiece on the BSE, down 3.93 per cent from the previous close.

&nbsp;

LIVE: Quarterly Results Today - Q2 Earnings Latest News, UPDATES: Quarterly Results and Q2FY23 earnings of many big business entities were announced on Wednesday i.e. 9th November 2022.&nbsp; Here are all the DETAILS, Latest News on Quarterly Results, Q2FY23 earnings announcements and September Quarter FY 23 Financial Details:-


LIVE: Quarterly Results, Q2 Earnings Today - TD Power Systems Q2 net profit rises to Rs 20 crore

BJP Gujarat elections candidate full list, contestants names 2022:&nbsp;BJP on Thursday released its first list of candidates for Gujarat Assembly polls. CM Bhupendra Patel is set to contest from Ghatlodia. Earlier, it was reported that BJP is likely to finalise all candidates on Wednesday. The top BJP leadership was deliberating on Wednesday on the candidates for the upcoming Gujarat Assembly polls, where the party is eyeing a victory for a seventh consecutive time. The central election committee of the Bharatiya Janata Party (BJP), also comprising Prime Minister Narendra Modi, Union Home Minister Amit Shah and party president J P Nadda, had met&nbsp;in Delhi in the evening to finalise the candidates. Polling will be held in two phases in Gujarat on December 1 and 5. Here are all the details on BJP Gujarat Election Candidate List 2022:-

BJP Gujarat elections candidate full list, contestants names 2022:&nbsp;BJP on Thursday released its first list of candidates for Gujarat Assembly polls. CM Bhupendra Patel is set to contest from Ghatlodia. Earlier, it was reported that BJP is likely to finalise all candidates on Wednesday. The top BJP leadership was deliberating on Wednesday on the candidates for the upcoming Gujarat Assembly polls, where the party is eyeing a victory for a seventh consecutive time. The central election committee of the Bharatiya Janata Party (BJP), also comprising Prime Minister Narendra Modi, Union Home Minister Amit Shah and party president J P Nadda, had met&nbsp;in Delhi in the evening to finalise the candidates. Polling will be held in two phases in Gujarat on December 1 and 5. Here are all the details on BJP Gujarat Election Candidate List 2022:-


BJP Candidates List Gujarat Elections 2022 - 160 names announced; many sitting MLAs dropped - Tough decision!

LIVE: US Midterm Elections 2022 Results Date, News, Polls Predictions, Latest Updates, Exit Polls: An election year that unfolded against the backdrop of economic turmoil, the elimination of federal abortion rights and broad concerns about the future of democracy is concluding with a final full day of campaigning in which leaders of both parties will issue urgent appeals to their supporters. All 435 seats in the U.S. House of Representatives are up for grabs, as are 35 U.S. Senate seats and 36 governorships. Republicans would need to pick up five seats to take a majority in the House and just one to control the Senate, Reuters reported. Nonpartisan election forecasters and polls suggest Republicans have a very strong chance of winning a House majority, with control of the Senate likely to be closer fought. A massive wave of Republican support could lead to declarations of victory hours after polls close, Reuters report added. Here are all the LIVE UPDATES on US Midterm Elections 2022 Results Date, News, Polls Predictions:-

LIVE: US Midterm Elections: Voting underway as Americans poll to decide who controls Congress - US markets trade higher

CAUTION for Investors from NSE: It's an important note from National Stock Exchange of India (NSE). A caution for investors has been issued by the world’s largest derivatives exchange by trading volume (contracts) as per the statistics maintained by Futures Industry Association (FIA) for calendar year 2021.&nbsp;

NSE in a statement issuing 'Caution for Investors' said, "It has been brought to the notice of the Exchange that an entity named “RDQ Tradingswala Technologies Limited” and one person associated with it namely “Swapan Nayak” is collecting funds from the public through an assured/ guaranteed return scheme/s."

Further, the statement added, "It may be noted that the said entity named “RDQ Tradingswala Technologies Limited” is not registered either as a member or as an authorized person of any registered member of the National Stock Exchange of India Limited, however, found to be associated with a registered trading member “RDQ Stock Broking Private Limited” and its director “Mr. Swarnendu Jana”."&nbsp;

Moreover, NSE said, "Investors are cautioned and advised not to subscribe to any scheme/ product offered by these or any entities/ individuals offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law."

CAUTION for Investors from NSE: "Investors are cautioned and advised not to subscribe to any scheme/ product offered by these or any entities/ individuals offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law."


CAUTION for Investors from NSE - DO NOT subscribe to any scheme, product offered by THESE entities 

Quarterly Results Today, Q2FY23 earnings: Quarterly Results and Q2FY23 earnings of many big business entities were&nbsp;announced on Monday i.e. 7th November 2022. Q2FY23 results of these companies were highly anticipated in the wake of developments that unfolded in the last September Quarter of FY23. Q2FY23 Earnings of&nbsp;COAL INDIA, CEAT, Ujjivan Small Finance Bank Ltd, PB Fintech Ltd (PolicyBazaar),&nbsp;INDIA CEMENTS and others were announced on Monday i.e. 7th November 2022. Here are all the DETAILS,&nbsp;Latest News on Quarterly Results, Q2FY23 earnings announcements and September Quarter FY 23 Financial Details:-

Quarterly Results Today, Q2FY23 earnings: Quarterly Results and Q2FY23 earnings of many big business entities were announced on Monday i.e. 7th November 2022. Q2FY23 results of these companies were highly anticipated in the wake of developments that unfolded in the last September Quarter of FY23. Q2FY23 Earnings of&nbsp;COAL INDIA, CEAT, Ujjivan Small Finance Bank Ltd, PB Fintech Ltd (PolicyBazaar), INDIA CEMENTS and others were announced on Monday i.e. 7th November 2022. Here are all the DETAILS,&nbsp;Latest News on Quarterly Results, Q2FY23 earnings announcements and September Quarter FY 23 Financial Details:-


Coal India Quarterly Results, Q2 Earnings OUT - Interim dividend announced; check details 

LIVE: RBI MPC Meeting Outcome November 2022: The&nbsp; rate setting panel of Reserve Bank of India (RBI) met on Thursday to discuss and draft a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January this year. The meeting was chaired by RBI Governor Shaktikanta Das and attended by all MPC members -- Michael Debabrata Patra, Rajiv Ranjan, Shashanka Bhide, Ashima Goyal and Jayanth R Varma. Here are all the LIVE UPDATES, Latest News of RBI MPC Meeting Outcome 3rd November 2022:-

LIVE: RBI MPC Meeting Outcome November 2022:&nbsp;The&nbsp; rate setting panel of Reserve Bank of India (RBI) met on Thursday to discuss and draft a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January this year. The meeting was chaired by RBI Governor Shaktikanta Das and attended by all MPC members -- Michael Debabrata Patra, Rajiv Ranjan, Shashanka Bhide, Ashima Goyal and Jayanth R Varma.&nbsp;Here are all the LIVE UPDATES, Latest News of RBI MPC Meeting Outcome 3rd November 2022:-


LIVE: RBI MPC Meeting Outcome - Discussion, drafting of report for government on inflation | Latest News, Result, Updates

Pakistan Tehreek-e-Insaf (PTI) chairperson Imran Khan was injured in a gun attack on his long march container on Day 7 of the party`s `Haqeeqi Long March`, confirmed party leader Farrukh Habib, media reports said. PTI leader Faisal Javed also sustained injuries in the attack, which occurred in Wazirabad. The suspect has been arrested, Express Tribune reported.

Javed said that a PTI worker was killed during the attack, while another was severely injured, as he prayed for the well-being and protection of Khan and everyone else, the report said. Party leader Fawad Chaudhry also confirmed the `targeted attack` and said that Khan has been shot in the leg. Speaking to a private news channel, he said three people were injured in the attack, including Ahmad Chattha and Faisal Javed.

Party leader Hammad Azhar said PTI`s Ahmed Chattha was shot at twice and is not "out of danger".&nbsp;&nbsp; 
The PTI chief, seemingly in good spirits after the attack on his life, was seen waving to party supporters soon after the attack, Express Tribune reported.

Chaotic scenes broke out near PTI`s reception camp at Allahwala Chowk after gunshots were fired at party chief Imran Khan. According to PTI leader Imran Ismail, Khan has been shot in the leg "three to four" times, Dawn reported.

Speaking to Bol TV, Ismail said that he was standing next to Khan when the shots were fired in which PTI leader Faisal Javed was also injured. He added that the attacker was directly in front of the container and was wielding an AK-47, Dawn reported.

According to Geo News, the former Prime Minister has been shifted to a hospital. PTI leader Shahbaz Gill said, "Imran Khan is our red line and an attempt has been made to cross that red line." He also said that Khan will fight till his last breath.

Prime Minister Shehbaz Sharif has condemned the firing incident in Gujranwala and directed Interior Minister Rana Sanaullah to seek an immediate report from the inspector-general of police and chief secretary of Punjab.

Khan is leading PTI`s march towards Islamabad which kicked off from Lahore`s Liberty Chowk on October 29. This is the PTI chief`s second long march this year.

Khan, along with his supporters, is expected to stage a sit-in in Islamabad against the Shehbaz Sharif-led coalition government at the end of the march. PTI has not yet confirmed the date of arrival in Islamabad.

According to Khan, the protest march will continue till the date for elections is announced, The News reported.

Earlier, the plan was to reach Islamabad by November 4. It was later revised to November 8-9 and then again revised to November 11. PTI leader Fawad Chaudhry then announced the party will keep changing the date to "tire the government out".

The political instability in Pakistan has also fuelled economic uncertainty, with international rating agencies questioning if the current government can maintain difficult economic policies in the face of political pressure and looming elections, The News reported.

The Islamabad High Court (IHC) has directed PTI to ensure peace regardless of the location in Islamabad allotted to the party by the government to hold sit-in and `jalsa`. The observation came during the hearing of PTI`s plea against the government for not issuing the party a no-objection certificate for its sit-in in Islamabad.

Pakistan Tehreek-e-Insaf (PTI) chairperson Imran Khan was injured in a gun attack on his long march container on Day 7 of the party`s `Haqeeqi Long March`, confirmed party leader Farrukh Habib, media reports said. PTI leader Faisal Javed also sustained injuries in the attack, which occurred in Wazirabad. The suspect has been arrested, Express Tribune reported.

Javed said that a PTI worker was killed during the attack, while another was severely injured, as he prayed for the well-being and protection of Khan and everyone else, the report said. Party leader Fawad Chaudhry also confirmed the `targeted attack` and said that Khan has been shot in the leg. Speaking to a private news channel, he said three people were injured in the attack, including Ahmad Chattha and Faisal Javed.

Party leader Hammad Azhar said PTI`s Ahmed Chattha was shot at twice and is not "out of danger".&nbsp;&nbsp;
The PTI chief, seemingly in good spirits after the attack on his life, was seen waving to party supporters soon after the attack, Express Tribune reported.

Chaotic scenes broke out near PTI`s reception camp at Allahwala Chowk after gunshots were fired at party chief Imran Khan. According to PTI leader Imran Ismail, Khan has been shot in the leg "three to four" times, Dawn reported.

Speaking to Bol TV, Ismail said that he was standing next to Khan when the shots were fired in which PTI leader Faisal Javed was also injured. He added that the attacker was directly in front of the container and was wielding an AK-47, Dawn reported.

According to Geo News, the former Prime Minister has been shifted to a hospital. PTI leader Shahbaz Gill said, "Imran Khan is our red line and an attempt has been made to cross that red line." He also said that Khan will fight till his last breath.

Prime Minister Shehbaz Sharif has condemned the firing incident in Gujranwala and directed Interior Minister Rana Sanaullah to seek an immediate report from the inspector-general of police and chief secretary of Punjab.

Khan is leading PTI`s march towards Islamabad which kicked off from Lahore`s Liberty Chowk on October 29. This is the PTI chief`s second long march this year.

Khan, along with his supporters, is expected to stage a sit-in in Islamabad against the Shehbaz Sharif-led coalition government at the end of the march. PTI has not yet confirmed the date of arrival in Islamabad.

According to Khan, the protest march will continue till the date for elections is announced, The News reported.

Earlier, the plan was to reach Islamabad by November 4. It was later revised to November 8-9 and then again revised to November 11. PTI leader Fawad Chaudhry then announced the party will keep changing the date to "tire the government out".

The political instability in Pakistan has also fuelled economic uncertainty, with international rating agencies questioning if the current government can maintain difficult economic policies in the face of political pressure and looming elections, The News reported.

The Islamabad High Court (IHC) has directed PTI to ensure peace regardless of the location in Islamabad allotted to the party by the government to hold sit-in and `jalsa`. The observation came during the hearing of PTI`s plea against the government for not issuing the party a no-objection certificate for its sit-in in Islamabad.




Bullet Injury! Ex-Pakistan PM Imran Khan Injured After Firing Attack In Haqeeqi Azadi Rally - Latest News, Updates From Pakistan

Quarterly Results Today, Q2FY23 earnings: Quarterly Results and Q2FY23 earnings of many big business entities were announced on Wednesday i.e. 2nd November 2022. Q2FY23 results of these companies were highly anticipated in the wake of developments that unfolded in the last September Quarter of FY23. Q2FY23 Earnings of SANMITRA COMMERCIAL LTD, UFO Moviez India, TRIVENI TURBINE, Shri Keshav Cements And Infra, SIS Ltd, Share India Securities Ltd, SHAH FOODS LTD, RELAXO FOOTWEARS, NEW MARKETS ADVISORY, PARAMOUNT COMMUNICATIONS, PDS Ltd, PROCTER &amp; GAMBLE HYGIENE &amp; HEALTH CARE, Phoenix Township, PUNJAB COMMUNICATIONS, Redington, NELCAST, MTAR Technologies, MAHINDRA HOLIDAYS &amp; RESORTS INDIA, KAJARIA CERAMICS, KSB, KUSAM ELECTRICAL INDUSTRIES, MAHINDRA &amp; MAHINDRA FINANCIAL SERVICES, Mahindra EPC Irrigation Ltd, MANALI PETROCHEMICAL, MAS Financial Services, EIH Hotel, EIMCO ELECON (INDIA), FIRSTSOURCE SOLUTIONS, GATI, Ghushine Fintrrade Ocean, GRAVITA INDIA, ORIENT GREEN POWER COMPANY, GRINDWELL NORTON, GUJARAT SIDHEE CEMENT, HINDUSTAN MEDIA VENTURES, JAMNA AUTO INDUSTRIES, JK PAPER, JINDAL STAINLESS, Dalmia Bharat, CL Educate, BACIL PHARMA, Andhra Paper, AMJ Land Holdings, Adani Transmission, AUTOMOBILE CORPORATION OF GOA and others were announced on Wednesday i.e. 2nd November 2022. Here are all the DETAILS, Latest News on Quarterly Results, Q2FY23 earnings announcements and September Quarter FY 23 Financial Details.

Quarterly Results Today, Q2FY23 earnings:&nbsp;Quarterly Results and Q2FY23 earnings of many big business entities were announced on Wednesday i.e. 2nd November 2022. Q2FY23 results of these companies were highly anticipated in the wake of developments that unfolded in the last September Quarter of FY23. Q2FY23 Earnings of SANMITRA COMMERCIAL LTD, UFO Moviez India, TRIVENI TURBINE, Shri Keshav Cements And Infra, SIS Ltd, Share India Securities Ltd, SHAH FOODS LTD, RELAXO FOOTWEARS, NEW MARKETS ADVISORY, PARAMOUNT COMMUNICATIONS, PDS Ltd, PROCTER &amp; GAMBLE HYGIENE &amp; HEALTH CARE, Phoenix Township, PUNJAB COMMUNICATIONS, Redington, NELCAST, MTAR Technologies, MAHINDRA HOLIDAYS &amp; RESORTS INDIA, KAJARIA CERAMICS, KSB, KUSAM ELECTRICAL INDUSTRIES, MAHINDRA &amp; MAHINDRA FINANCIAL SERVICES, Mahindra EPC Irrigation Ltd, MANALI PETROCHEMICAL, MAS Financial Services, EIH Hotel, EIMCO ELECON (INDIA), FIRSTSOURCE SOLUTIONS, GATI, Ghushine Fintrrade Ocean, GRAVITA INDIA, ORIENT GREEN POWER COMPANY, GRINDWELL NORTON, GUJARAT SIDHEE CEMENT, HINDUSTAN MEDIA VENTURES, JAMNA AUTO INDUSTRIES, JK PAPER, JINDAL STAINLESS, Dalmia Bharat, CL Educate, BACIL PHARMA, Andhra Paper, AMJ Land Holdings, Adani Transmission, AUTOMOBILE CORPORATION OF GOA and others were&nbsp;announced on Wednesday i.e. 2nd November 2022.&nbsp;Here are all the DETAILS, Latest News on Quarterly Results, Q2FY23 earnings announcements and September Quarter FY 23 Financial Details.


Quarterly Results Today - Q2 Earnings of RELAXO, MAHINDRA FINANCIAL SERVICES, JK PAPER, Dalmia Bharat, TRIVENI TURBINE, MTAR and others 

LIVE UPDATES US Fed Reserve FOMC Meeting November 2022 Date, Time, Press Conference News: The FOMC holds eight regularly scheduled meetings during the year and other meetings as needed. The US Fed Reserve FOMC Meeting for November 2022 is taking place on 1st and 2nd of November 2022.

The Federal Reserve on Wednesday raised interest rates by three-quarters of a percentage point as it continued to battle the worst outbreak of inflation in 40 years, but signaled future increases in borrowing costs could be made in smaller steps to account for the "cumulative tightening of monetary policy" it has enacted so far.

The US central bank has raised rates at its last six meetings beginning in March, marking the fastest round of increases since former Fed Chair Paul Volcker's fight to control inflation in the 1970s and 1980s.

&nbsp;

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LIVE UPDATES US Fed Reserve FOMC Meeting November 2022 Date, Time, Press Conference News:&nbsp;The FOMC holds eight regularly scheduled meetings during the year and other meetings as needed. The US Fed Reserve FOMC Meeting for November 2022 is taking place on 1st and 2nd November 2022. After the 2-day&nbsp;


Highlights: US Fed FOMC Announces 75 Bps Rate Hike To 3.75-4%; Highest Since 2008 - Check Powell's Commentary Here - News, Updates

Gross GST Revenue Collection October 2022:&nbsp;The revenue for October 2022 is second highest monthly collection, next only to the collection in April 2022 and it is for the second time the gross GST collection has crossed Rs. 1.50 lakh crore mark.&nbsp;


Prashant V. Singh