NMDC hikes Iron ore prices

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⭐ NMDC hikes Iron ore prices

Government-owned iron ore miner NMDC has increased the prices of lump ore and fines by 7% to 11%. Iron ore is one of the key raw materials in the manufacturing of steel and NMDC accounts as India's largest iron ore producer. 

⭐ India’s Q2 GDP growth slows

India’s gross domestic product (GDP) grew by 6.3% in the July-September quarter, slower than 8.4% in the same period last year. The GDP growth was dragged down mainly by the poor performance of manufacturing and mining sectors, which witnessed a decline. Despite this the overall GDP growth rate is inline with RBI’s and street expectation. 

⭐ Discoms outstanding dues dips

According to the Ministry of Power, the outstanding dues of electricity distribution firms towards generating and transmission companies has declined by ₹24,680 crore to ₹1.1 lakh crore, in the last six months. Further, on the back of Late Payment Surcharge (LPS) rule, the distribution companies are also paying their current dues in time. In general, this has helped bring back financial viability in the power sector. 

Global markets (at 7:30 AM today)

Fact of the day

Germany vs. Costa Rica football world cup match will be the first match to be officiated by an all-female refereeing team. Frenchwomen Stéphanie Frappart will handle the match proceedings. 

Source: Economic Times