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Here are the top stories to start your day.
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⭐ Reliance ends year on a 'sweeter' note
Reliance Retail venture, a subsidiary of Reliance Industries, announced acquisition of a majority stake in BSE-listed Lotus Chocolate. Reliance will acquire 51% stake from the promoters for ₹113 per equity share aggregating to ₹74 crore. It will also bring open offer to acquire additional 26% stake.
⭐ HG Infra bags NHAI order
Infrastructure firm HG Infra Engineering has received a new order worth ₹743 crore from National Highways Authority of India (NHAI). The project work includes construction of a 34 km 6-lane greenfield ring road in Haryana.
⭐ Current account deficit worry
India’s current account deficit (CAD) increased to $36.4 billion or 4.4% of the GDP in the second quarter of the current fiscal year, as per RBI data. In absolute terms, CAD increased 100% from $18.2 billion in Q1 of FY23 to $36.4 billion in Q2 due to high commodity prices and a weak rupee.
Global markets (at 9:00 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.32% |
| Nikkei 225 (Japan) | ▲ 0.46% |
| Hang Seng (Hong Kong) | ▲ 0.78% |
| SSE Composite (China) | ▲ 0.61% |
| Dow Jones (US) (December 29) | ▲ 1.05% |
| NYSE (US) (December 29) | ▲ 1.13% |
| Nasdaq (US) (December 29) | ▲ 2.59% |
| S&P 500 (US) (December 29) | ▲ 1.75% |
Fact of the day
Global foldable smartphone shipment is expected to grow 52% in 2023 to 2.27 cr units.
Source: Live Mint
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