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Biz EOD: Reliance Retail grows in value; IMF doubts India's GDP estimates; the decade of large caps

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twitter-logoBusinessToday.In | December 26, 2019 | Updated 22:04 IST
Biz EOD: Reliance Retail grows in value; IMF doubts India's GDP estimates; the decade of large caps
Top stories from the world of business and economy

Mukesh Ambani-owned Reliance Retail's latest valuation stands at $34 billion owing to a share swap scheme that has helped its shareholders monetise their investment (illiquid stock options). The IMF raised doubts over India's methodology to calculate GDP numbers, saying certain changes to historical series and discrepancies between GDP by activity and GDP by expenditure have made the growth calculation process complex. Largecap stocks have been ruling the roost in the ongoing market rally in 2019. Take into account the past decade, and they have still outperformed the midcap and smallcap stocks by a wide margin. Read for more top stories from the world of business and economy:

1. Mukesh Ambani's Reliance Retail valued at $34 billion after stock swap offer

Stock owners in Mukesh Ambani-owned Reliance Retail are given an offer whereby they can exchange four shares for one of its parent company Reliance Industries Ltd (RIL). This is as per a scheme of arrangement posted on the group's website.

2. Budget 2020: Modi govt may cut income tax rate, introduce new slabs to boost consumption

The Finance Ministry is mulling these measures ahead of the Budget for 2020-21, which may be presented by the Finance Minister Nirmala Sitharaman on February 1.

3. IMF flags issues with India's GDP calculation method; says it's complex

The International Monetary Fund in its latest report has pointed out discrepancies in calculating deflation, which is used to convert GDP at current prices to constant prices.

4. NPAs in most banks across the world reduce in second half of 2018

The NPAs in Indian banks started rising from 2012 but the asset quality of scheduled commercial banks turned around after a gap of seven years, during 2018/19, as recognition of bad loans neared completion.

5. Not only 2019, the entire decade belonged to largecaps

If you had made a lumpsum investment of Rs 1 lakh in Sensex on Jan 1, 2010, you would have collected Rs 2.33 lakh by now.

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