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India’s central bank is likely to raise the cost of funds by a quarter percentage point this week, perhaps for the last time in the current cycle of rate hardening, as sticky local inflation and the West’s hawkish stance outweigh growth concerns spawned by a cumulative 250-basis point (bps) rate increase in less than 11 months.
Nestle, Kraft Heinz, Hindustan Unilever, Tata, ITC, Orkla and Nissin Foods are among the contenders for an estimated $1-1.25 billion buyout of Capital Foods Pvt Ltd, the maker of condiments, food products and ingredients under the Ching’s Secret and Smith & Jones brands, said people with knowledge of the matter.
Several orders for violating the black money law were released in the run-up to March 31 as the Income Tax (I-T) office rushed to beat the deadline set by the law.
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