BUSINESS HGHLIGHTS

New Delhi, Jul 29 (PTI) Following are the top business stories at 2025 hours: DEL43 BIZ-LD-STOCKS **** Sensex, Nifty retreat from record highs to close flat ahead of key US Fed rate decision Mumbai: Benchmark indices Sensex and Nifty hit intra-day record high levels before closing almost flat on Monday due to profit-taking in FMCG and IT shares by cautious investors ahead of the key US Fed interest rate decision later this week. **** DEL36 BIZ-RBI-DIGITAL ECONOMY **** India's digital economy poised to constitute 1/5th of GDP by 2026: RBI report Mumbai: India's digital economy is poised to constitute a fifth of GDP by 2026 from one-tenth at present, according to a Reserve Bank report released on Monday. **** DEL56 BIZ-LD RUPEE **** Rupee settles flat against US dollar in restricted trade Mumbai: The rupee moved in a narrow range before settling flat at 83.73 against the US dollar on Monday as a firm American currency in overseas markets offset the gains from weak crude oil prices. **** DCM106 BIZ-OLA-ELECTRIC-MOBILITY **** Ola Electric fixes IPO price band at Rs 72-76; looks to start operations at gigafactory early '25 Mumbai: Softbank-backed two-wheeler maker Ola Electric Mobility on Monday fixed the price band at Rs 72-76 per equity share for its Rs 6,100-crore initial public offering (IPO) which will hit the capital market on August 2. **** DEL41 BIZ-TOMATOES-GOVT **** Govt sells subsidised tomatoes at Rs 60/kg in Delhi-NCR New Delhi: Food and Consumer Affairs Minister Pralhad Joshi on Monday launched sales of tomatoes at a subsidised rate of Rs 60 per kg in Delhi-NCR as part of the government's efforts to stabilise prices and provide relief to the common man. **** DEL46 BIZ-ECONOMY-NCAER **** Indian economy likely to record over 7 pc growth: NCAER New Delhi: The Indian economy could grow higher than 7 per cent and possibly closer to 7.5 per cent in the current fiscal on the back of normal monsoon and receded electoral uncertainty, economic think tank NCAER has said. **** DCM104 BIZ-RESULTS-LD HPCL **** HPCL Q1 net profit slumps 90 pc on fall in refining, fuel margin New Delhi: State-owned Hindustan Petroleum Corporation Ltd (BPCL) on Monday reported a massive 90 per cent drop in net profit in the June quarter, as refinery margins fell and a fuel price reduction slashed marketing margins. **** DCM32 BIZ-ICL-ULTRATECH **** India Cements to remain listed entity, says UltraTech New Delhi: India Cement Ltd (ICL) would remain a listed entity as the acquirer, UltraTech, has no "intention to delist" the South-based rival cement company, the Aditya Birla group firm said in a regulatory filing. **** DCM42 BIZ-RESULTS-ADANI GAS **** Adani Total Gas Q1 net rises 20 pc on higher CNG volumes New Delhi: Adani Total Gas Ltd, the city gas joint venture between Adani group and TotalEnergies of France, on Monday reported a 20 per cent rise in June quarter net profit, on the back of rise in CNG and piped cooking gas sales. **** DEL50 BIZ-GOLD-PRICE **** Gold tumbles Rs 950; silver nosedives Rs 4,500 on weak demand New Delhi: Gold prices tumbled by Rs 950 to Rs 71,050 per 10 grams in the local market here on Monday due to weak demand from jewellers. **** PTI SGC SHW