*Business News Headlines*🇮🇳
*Economic Times*
Ø IGL margins will be less due to higher spot gas prices, but we hope to be profitable this FY: MD
Ø SAMIL bottom line will improve in next 1-2 months or a quarter: Vivek Chaand Sehgal
Ø JSW Energy unit to buy renewable assets from Mytrah Energy for Rs 10,530 crore
Ø Lenders opt for forensic audit of Future Retail
Ø Policybazaar Q1 Results: Loss widens to Rs 204 crore but revenue jumps 112%
Ø LIC offloads 2% stake in Mahindra & Mahindra for Rs 2,222.49 cr
Ø Banks selling bond holdings to meet credit demand; loan rates may rise
Ø LIC consolidates its leadership position with 68.57% market share
Ø Bajaj Auto 2-wheeler sales drop by 5 pc to 3,15,054 units in July
Ø Eicher Motors net more than doubles in Q1FY23
Ø Union Bank expects to recover Rs 15,000 crore from bad loans this fiscal
Ø Tata Power Green commissions 225 MW hybrid power project for Mumbai customers
*Business Standard*
Ø RBI issues digital lending norms, reserves space for regulated entities
Ø Hindalco reports record quarterly profit in Q1 at Rs 4,119 cr, up 48%
Ø Zomato targets breakeven by Q2 FY24, lowers investment guidance to $320 mn
Ø Govt to remove domestic fare caps imposed on airlines Aug 31 onwards
Ø Jefferies sees 15% correction in Indian markets; adds Zomato to portfolio
Ø Adani to Zee: Companies that have seen biggest rise, decline in FPI stake
Ø GAIL feels blowback from Ukraine war as former Gazprom unit cuts supplies
Ø IT companies' margins decline to decade-low of 23.2% in June quarter
Ø Centre cites policy to reject union's proposal to merge RINL with SAIL
Ø JSW Energy unit to buy Mytrah Energy's renewable assets for Rs 10,530 cr
*Financial Express*
Ø New York investment firm, 2 others submit bids for Srei group firms
Ø Avalon Tech files IPO papers with SEBI, plans to raise Rs 1,025 crore through public issue
Ø Institutional investments in real estate dip 28% to 2.3 bn in H1: Report
Ø Balaji Telefilms posts consolidated revenue of Rs 119 crore in Q1, FY23
Ø Tax hike on petroleum: Crude oil production tax raised; diesel, jet fuel export tax cut by this much per litre
Ø Price freeze on petrol, diesel, LPG to hit profitability of IOC, BPCL, HPCL: Fitch
Ø Airtel Africa signs up for USD 125 million credit pact with Citi
Ø Mudra NPAs moderate in FY22, though still above pre-Covid levels
Ø Import reliance for oil jumps 10 percentage pts since 2015
Ø Rs 50,000 cr forex saved by blending ethanol with petrol in 7-8 years: PM Modi