After peaking in the first quarter of the current year, growth moderated in the July-September period to 7.1%, as agriculture and industry slowed. Cracks showed up in manufacturing, that slipped to 7.4% in Q2 compared to 13.5% in Q1. Construction clocked 7.8% in Q2 compared to 8.7% in Q1 while agriculture dipped to 3.8% compared to 5.3% in Q1. For most of these sectors, growth in Q1 had been pushed up by a pick-up in activity and a positive base effect since growth same quarter last year was low.

Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in telecom operator Bharti Airtel, according to a report in Reuters, underlining the growing attraction of India's digital economy for US tech giants. The planned investment, if completed, would mean Amazon acquiring a roughly 5% stake based on the current market value of Bharti, which is India's third-largest telecom company with more than 300 million subscribers. The discussions between Amazon and Bharti come at a time when global players are placing major bets on the digital arm of Reliance Industries, which owns Bharti's rival Jio. Reliance's digital unit has raised $10 billion in recent weeks from Facebook, KKR and others. An Amazon spokeswoman said the company does "not offer comments on speculation of what it may or may not do in future."

Indian equity markets fell on Thursday after a very volatile session due to weekly expiry.
The Sensex&nbsp;ended 128 points lower, while the Nifty fell 0.32% to close a bit above 10,000.
Asian Paints, Bajaj&nbsp;Finance, HDFC, IndusInd&nbsp;Bank and Kotak&nbsp;Bank were the top losers. Whereas, Vedanta, Bharti&nbsp;Airtel, Zee, Tech Mahindra&nbsp;and Sun Pharma&nbsp;were among the top Nifty gainers.
The rupee depreciated 10 paise to close at 75.57 against the US dollar.&nbsp;

UK&rsquo;s Standard Life has sold 4 crore shares in HDFC Life through block deals on Thursday to raise up to ₹1,960 crore.&nbsp;Standard Life will sell stake in HDFC Life&nbsp;at 490&ndash;501 per share on June 4. The UK-based firm has divested nearly 17% stake in HDFC Life since January last year. Standard Life held 29.25% stake as on December 2018, which has reduced to 10.27% in HDFC Life.
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The&nbsp;₹53,125-crore rights issue of Reliance Industries&nbsp;was subscribed 1.6 times as it closed on Wednesday, in a major boost to the oil-to-telecom conglomerate&rsquo;s efforts to erase its debt.&nbsp;The shares will be allotted on or around June 10 and the rights shares are expected to be listed on BSE and NSE on or around June 12.

The country's largest stocks buyer, LIC may cut its equity investment target to about ₹30,000 crore for the current year, Hindustan Times reported. The investment would be the lowest in a decade as new premium growth declined amid coronavirus-related disruptions.&nbsp;LIC invested around ₹47,000 crore in stocks in the financial year 2020, which was&nbsp;21% less than the previous fiscal year.

The Union Minister of Commerce &amp; Industry&nbsp;Piyush Goyal&nbsp;in a webinar with real estate developers on Wednesday asked them to reduce prices and sell their inventory rather than wait for the market to bounce back. He added that if developers feel the government will finance them and they will hold out longer for the market to improve, "the market will not recover in a hurry&rdquo;. "Things are seriously stressed and your best bet is to sell," he said.

Equity markets opened higher on Thursday following gains in the global peers.
At 9:25 am, the Sensex was 129 points up at 34,239 and the Nifty rose 0.53% to 10,115.
Vedanta, UPL, Tata&nbsp;Motors, Tech Mahindra and GAIL were the top Nifty gainers.

India has been unable to reduce the Covid-19 growth rate while the&nbsp;quasi hard lockdown has flattened the wrong curve, said industrialist&nbsp;Rajiv Bajaj while speaking to Congress leader&nbsp;Rahul Gandhi on the economic fallout of the Covid-19 crisis. "Our lockdown was porous and decimated the economy. We flattened the GDP curve instead of the infection curve,&rdquo; the Managing Director of Bajaj&nbsp;Auto said.&nbsp;
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Fugitive businessman Vijay Mallya is not flying back to India anytime soon. After feverish speculation in the media on Wednesday night that Mallya, who owes Indian banks thousands of crores and lives the high life in London, was to be put on a plane to India, The Times of India reported on Thursday that nothing of that sort was happening. Quoting an officer at the Indian high commission in London, the report said that there is no extradition as of now and media got it all wrong.

Australia&rsquo;s economy shrank last quarter, setting the scene for what could be the nation&rsquo;s first technical recession in three decades. The entire business sectors were shut down due to the coronavirus&nbsp;outbreak. Data from the Australian Bureau of Statistics showed the economy contracted by 0.3% in the first quarter ended March, the first drop in nine years.
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Stock markets ended the day in the green, however,&nbsp;indices&nbsp;closed off the day's high due to the profit-booking.&nbsp;The Sensex&nbsp;closed 284 points higher at 34,109 after touching an intraday&nbsp;high of 34,488. Similarly, the Nifty, which surged over 1.6%, ended the session only 0.8% up.
Markets witnessed profit-booking ahead of weekly expiry on Thursday as the Nifty surged more than 11% in the last six days. PSU banks were the biggest contributors in the Nifty's&nbsp;gain.
M&amp;M, Bajaj&nbsp;Finance, Kotak&nbsp;Bank, Nestle and ICICI&nbsp;Bank were the top five gainers.
The rupee also surrendered all intraday gains to settle 11 paise lower at 75.47 against the US dollar.
&nbsp;

The Trump administration has decided to launch an investigation into the digital services taxes (DST) being enforced or proposed by nine countries, including India, and the European Union that would hit US companies, like Google and Amazon. The US Trade Representatives (USTR) said that India has adopted a 2 per cent tax for non-resident companies that deal in online sales of goods and services and have annual revenue more than over ₹2 crore.

India's service sector fell drastically during May as the unfavourable economic effects of the coronavirus pandemic impaired business operations. The IHS Markit India Services Business Activity Index stood at 12.6 in May. Although the figure rose from April's unprecedented low of 5.4.&nbsp;

Oil surged on Wednesday to a near three-month high over speculation that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude&nbsp;was up 0.9% at $39.79. The Organization of the Petroleum Exporting Countries and others including Russia may extend production cuts of 9.7 million barrels per day&nbsp;or about 10% of global output in July or August, Reuters reported.

The Indian stock markets opened with strong gains on Wednesday following positive global cues.&nbsp;
At 9:20 am, the Sensex&nbsp;was 498 points higher and the Nifty surged 1.62% to trade around 10,141.
Britannia, Bajaj&nbsp;Finance, Bajaj&nbsp;Finaserv, Tata&nbsp;Motors and Axis Bank were the top Nifty movers. 49 out of 50 stocks in the Nifty 50 index were in the green.
&nbsp;

Indian equity markets ended Tuesday with gains, dominated by financials&nbsp;and positive global sentiment.&nbsp;
The Sensex&nbsp;closed the day 522 points higher and the Nifty surged 1.56% to end slightly lower than 10,000.
Bajaj&nbsp;Finserv, Zee, Bajaj&nbsp;Finance, Kotak&nbsp;Mahindra&nbsp;Bank and Tata&nbsp;Motors were the top Nifty movers. Whereas, Coal India, Maruti, BPCL, ITC and DRL&nbsp;were the top&nbsp;losers.
The rupee on Tuesday rebounded by 18 paise to close at 75.36 against the US dollar.

CNG prices in Delhi, Noida, Ghaziabad and other adjoining cities were increased by one rupee per kg to compensate for the additional cost incurred to keep stations coronavirus ready.&nbsp;Indraprastha Gas Ltd&nbsp;on Monday announced to revise&nbsp;CNG price from&nbsp;₹42/kg to&nbsp;₹43/kg, with effect from June 2, 2020.

The RBI's decision to extend the moratorium on loan repayment by three more months will be credit negative for NBFCs,&nbsp;Moody's Investors Service has said. It said that NBFCs manage their liquidity primarily by matching outflows, mainly debt repayments, with inflows from customer loan repayments. The initial moratorium has led to a significant decline in cash inflows and has adversely impacted the liquidity of NBFCs. The extension of the moratorium will add additional stress to cash inflows, which will continue for at least three more months, the report said.

Oyo&nbsp;has announced to grant employee stock ownership plans worth around ₹130 crore to all its furloughed employees impacted by the Coronavirus pandemic. The hospitality firm is putting&nbsp;efforts to minimize the disruption being experienced by its employees, said the announcement. The company moreover, did not share any of the details regarding the number of impacted employees.
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In a bid to boost electronic manufacturing in India, Union Minister Ravi Shankar Prasad&nbsp;on Tuesday announced three schemes. Those schemes are&nbsp;'Production Linked Incentive Scheme', 'Component Manufacturing Scheme' and 'Cluster Scheme'. Addressing the media, the minister said that&nbsp;electronic manufacturing in India has risen from ₹1.9 lakh crore in 2014 to ₹4.58 lakh crore in 2018-19.&nbsp;

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Beauty bloggers&nbsp;and&nbsp;make-up artists on Instagram, Tik&nbsp;Tok and just about everywhere else are being slammed by netizens&nbsp;for created make-up looks inspired by the Black Lives Matters protest. Turning a serious social cause&nbsp;into a trendy&nbsp;makeup challenge, the beauty mavens are doing everything from writing slogans on their face and created illusions on being choked to the worst of all, painting their faces black.&nbsp;
Unsurprisingly, people have criticised these makeup enthusiasts for&nbsp;not just&nbsp;cashing in on a trending topic but also&nbsp;trivialising racism for views.&nbsp;

Beauty bloggers and make-up artists on Instagram, Tik Tok and just about everywhere else are being slammed by netizens for created make-up looks inspired by the Black Lives Matters protest. Turning a serious social cause into a trendy makeup challenge, the beauty mavens are doing everything from writing slogans on their face and created illusions on being choked to the worst of all, painting their faces black. Unsurprisingly, people have criticised these makeup enthusiasts for not just cashing in on a trending topic but also trivialising racism for views.

Q2 GDP slips to 7.1%, fiscal deficit balloons to 104%

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