Organization of Petroleum Exporting Countries or OPEC stated in a latest monthly update that the latest data reveals that the Indian economy grew by 6.7%, y-o-y, in 2Q24, a deceleration from the 7.8%, y-o-y, growth recorded in 1Q24. This slowdown is partly attributed to a contraction in final government consumption expenditure, which decreased by 0.2% in 2Q24 compared to growth of 0.9% in 1Q24. Conversely, final private consumption expenditure saw an increase, rising to 7.5%, y-o-y, growth in 2Q24 from 4.0%, y-o-y, in 1Q24. Gross fixed capital formation also improved, growing by 7.5%, y-o-y, in 2Q24, up from 6.5%, y-o-y, in 1Q24. Recent heatwaves appear to have adversely affected consumer spending, contributing to a decline in consumer confidence, which fell to 93.9 in July from 97.1 in May.

Gujarat Gas (GGL) said that CRISIL Ratings has placed its rating on the long-term bank facilities of the company on ‘rating watch with developing implications’.

Noting that September 9 was the deadline for Foreign Portfolio Investors to disclose the beneficial owners of their holdings, the Congress on Wednesday asked SEBI if those implicated in the Adani matter have done so and why has it taken the capital markets regulator 18 months to enforce the new norm.
Congress general secretary in-charge communications Jairam Ramesh said it is September 11 today, two days after the SEBI’s September 9 deadline for Foreign Portfolio Investors (FPIs) – those who stand accused of holding concentrated portions of their equity portfolio in a single corporate group – to disclose the beneficial owners of their holdings.
“We had raised this issue a few days ago, in light of information that two Mauritius-based FPIs that were part of the revelations in the still-unfolding Modani mega scam, have petitioned the Securities Appellate Tribunal to seek urgent relief from complying with these new foreign investor norms,” he said in a post on X.
“Some questions to the

Ravindra Energy was locked in upper circuit of 5% at Rs 99.58 after the company announced that its board approved raising of funds aggregating to Rs 179.99 crore on preferential basis.

At 12:30 IST, the barometer index, the S&P BSE Sensex, rose 142.15 points or 0.17% to 82,063.52. The Nifty 50 index added 48.55 points or 0.19% to 25,089.70.