Top headlines: Eco Survey sees 8%-8.5% FY23 GDP growth; NINL sale cleared

Business Standard brings you the top headlines on Monday

Eco Survey: Retail participation in equities rises on buoyant stock market

Retail investors' interest in the Indian securities market has seen a significant uptick, as 2.21 crore individual demat accounts were added in April-November 2021, underpinned by the buoyancy in the stock market, according to the Economic Survey.

"With continuing buoyant trend in Indian stock markets, participation by individual investors in the equity cash segment has increased and the share of individual investors in total turnover at NSE increased from 38.8 per cent in 2019-20 to 44.7 per cent in April-October 2021," the Survey noted. Read more

Tata Motors Q3 results: Firm posts net loss of Rs 1,516 cr

Jaguar Land Rover (JLR) owner Tata Motors reported a loss for the third quarter on Monday, hurt by semiconductor shortages and high commodity prices.

Consolidated net loss came in at Rs 1,516 crore for the quarter ended Dec. 31, compared to a profit of Rs 2,906 crore a year earlier when an easing of coronavirus-related restrictions led to a pick-up in sales. Read more

Govt approves sale of NINL to Tata Steel Long Products for Rs 12,100 cr

The government on Monday said it has approved the sale of loss-making Neelachal Ispat Nigam Ltd (NINL) to Tata Steel Long Products Ltd for Rs 12,100 crore.

NINL is a joint venture of four CPSEs, namely MMTC, NMDC, BHEL, MECON and two Odisha Government PSUs, namely OMC and IPICOL. NINL has an integrated steel plant with a capacity of 1.1 million tonnes (MT), at Kalinganagar, Odisha. The company has been running in huge losses and plant is closed since March 30, 2020. Read more

Economic Survey forecasts 8%-8.5% GDP growth for FY23 ahead of Budget

India's economic growth is expected to remain in the range of 8 to 8.5 per cent in 2022-23 as against a projected growth of 9.2 per cent in the current financial year and a sharp contraction witnessed in 2020-21, according to the Economic Survey 2021-22 tabled in the parliament on Monday.

"With the vaccination programme having covered the bulk of the population, economic momentum building back and the likely long-term benefits of supply-side reforms in the pipeline, the Indian economy is in a good position to witness GDP growth of 8.0-8.5 per cent in 2022-23," said the annual survey report released ahead of the Union Budget. Read more