IMF lowers India’s economic growth projection
NEW DELHI: The International Monetary Fund (IMF) on Tuesday slightly lowered India’s economic growth projection in 2019 to 7 per cent. According to IMF’s World Economic Outlook Update, India’s economy is set to grow at 7 per cent in 2019, picking up to 7.2 per cent in 2020. “The downward revision of 0.3 percentage point for both years reflects a weaker-than expected outlook for domestic demand,” the update said on Tuesday. IANS
Metro Shoes unveils ‘Cloud 9’ for men, women
MUMBAI: Coming from the house of the veteran contemporary Indian fashion footwear brand and accessories, Metro Shoes launches its especially curated collection named ‘Cloud 9’ for men and women, who want stylish footwear without compromising on their comfort. Cloud 9 collection by Metro Shoes, offers a range of stunning styles and designs for your outings with friends and board meetings alike, giving your feet comfort all day. The ‘Cloud 9’ collection by Metro Shoes is targeted to those who seek comfort along with style. This collection has footwear with extra cushion, that gives you extra comfort. Cloud 9 collection comprises of comfortable sandals, slip-ons, formal shoes for men and sandals, heels, flats ballerinas in casuals and work wear. The styles are classic yet trendy.
L&T’s Q1 consolidated net profit rise 20.5%
MUMBAI: Industrial conglomerate Larsen and Toubro (L&T) on Tuesday reported a rise of 20.5 per cent increase in its consolidated net profit for the quarter ended June 30 of the financial year 2019-20. Accordingly, the consolidated net profit from continuing operations for the quarter under review rose to Rs 1,361 crore from Rs 1,129 crore for the corresponding period of the previous year. “The overall PAT (Profit After Tax), including the PAT from discontinued operations for the quarter April to June, 2019 grew by 21.2 per cent to Rs 1,473 crore vis-Ã -vis Rs 1,215 crore for the corresponding quarter of the previous year,” the company said in a statement. The company’s consolidated gross revenue of Rs 29,636 crore from continuing operations for the quarter ended June 30, achieving y-o-y growth of 10 per cent. IANS
Hyundai Motor India to hike car prices from August 1
NEW DELHI: Automobile major Hyundai Motor India will hike prices of its car models by up to Rs 9,200 from August 1. According to Hyundai Motor India (HMIL), the hike came on account of increase in input costs due to the introduction of new enhanced safety regulations in cars by the government. “The new prices will be effective from August 1, 2019 across all models,” the company said in a statement. HMIL is the second largest car manufacturer in India and the number one car exporter since its inception in the country. Currently, the company offers 10 models across segments, including Santro, Grand i10, Elite i20, Active i20, Xcent, Verna, Elantra, Venue, Creta and Tucson. IANS