*India a bright spot for investments despite current volatility: Blackstone*
Despite the recent turmoil in the Indian markets after a scathing report on the Adani group from Hindenburg Research, American private equity major Blackstone is “bullish” on the India growth story and plans to invest more in the country’s infrastructure and real estate projects. “We have a long-term view on India, as growth will be higher here. We have invested half of our Asia exposure in India. Our extraordinary performance in India has made us bullish,” said Jonathan Gray, president and chief operating officer of Blackstone. “Picture abhi baki hai,” he added in Hindi, talking about India’s growth prospects. Blackstone, one of the largest global investors in India with $50 billion of investments across real estate ($20 billion) and a portfolio of other companies ($30 billion), is scouting more deals in the infrastructure and real estate sectors.
*US heavy bombers at Aero India 2023 mark strategic partnership with India*
Two bombers of the United States Air Force (USAF) on Tuesday arrived at Aero India 2023 in Bengaluru, journeying to India from their temporary duty location at Andersen Air Force Base, Guam. The B-1B Lancer, a supersonic heavy bomber, is capable of carrying out missions worldwide from bases in the US and other locations. Regarded as the backbone of America’s long-range bomber force, it carries the largest conventional payload of both guided and unguided weapons in the USAF. “The B-1 offers flexible options to senior leaders and combatant commanders,” said Major General Julian C Cheater, assistant deputy undersecretary of the US Air Force, International Affairs. “Greater integration with our Allies and partners throughout the region is a positive step towards greater interoperability.”
*India’s WPI inflation eases to two-year low of 4.73% in January*
The wholesale price index (WPI)-based inflation rate for January 2023 fell to a two-year low at 4.73 per cent. This was on the back of a higher base and easing of pricing pressure for fuel and manufactured products. In December 2022, wholesale price inflation stood at 4.95 per cent. In January 2021, it was at 2.51 per cent. This is the fourth consecutive month that factory-gate inflation saw a single-digit print after remaining in double digits for 18 successive months. Data released by the ministry of commerce and industry on Tuesday showed that inflation for manufactured items eased to 2.99 per cent in January from 3.37 per cent in December. It was led by softening price pressure in sectors like food, textiles, apparel, leather, paper, chemicals and pharmaceuticals, among others.
Gold – Rs 56974/10gm, Silver – Rs 65937/kg, Brcrude – Rs 6414/barrel, Degumsyoil – Rs 1296/10kg, Copper – Rs 776/kg.
Adani Group vows to reduce leverage, flagship swings back to profit.
ONGC’s Q3 net profit rises 26% to Rs 11,045 crore on high gas prices.
Air India seals world’s largest aircraft deal at $70 bn, orders 470 planes.
SGX Nifty indicates negative start to Indian markets trading at 17863 levels down by 64 points or 0.36%. Dow Jones also ended yesterday`s session in red down by 0.46% at close.
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