BUSINESS
European tensions: Stocks plunge on geo-politics; realty shares down
Besides, high crude oil prices along with subdued global indices added weight to the downtrend. On Monday, Russian President Vladimir Putin ordered the deployment of troops into two separatist areas within Ukraine, after recognising their independence, a move that some fear puts Kiev and Moscow one step closer to a military conflict.
Apple now faces $28 mn fine from Dutch competition authority
The Dutch anti-trust regulator has fined Apple another 5 million euros ($5.6 million) for failing to comply with its order on dating-app providers. The Authority for Consumers and Markets (ACM) in the Netherlands has so far fined Apple a total of 25 million euros or $28.2 million (5 million euros every week). The total penalty by the ACM on Apple can go up to 50 million euros.
Indian equities extend losses; Sensex slips nearly 900 pts
India's key indices -- S&P BSE Sensex and NSE Nifty50 -- extended their losses from Monday and declined sharply in early trade on Tuesday due to continued selling by foreign institutional investors amid geo-strategic tensions between Ukraine and Russia, said analysts. At 10.04 a.m., Sensex traded at 56,786 points, down 1.6 per cent or 897 points, whereas Nifty traded 16,945 points, down 1.5 per cent or 262 points.
ABG Shipyards ex-Chairman Agarwal's questioning over, may be called again
He is likely to be summoned again, a Central Bureau of Investigation (CBI) official told IANS. Emerging out of the CBI headquarters, Agarwal, who was accompanied by his legal team, didn't speak to media and immediately left. "Agarwal responded to our summons. He has joined the probe. Our team is questioning him," the CBI official told IANS. Earlier he was grilled on February 17 by the federal probe agency.
NTPC pays interim dividend of over Rs 3,800 cr for FY22
According to the company, the dividend paid is 40% of the paid-up equity share capital of the company. "This is the 29th consecutive year that NTPC has paid dividends," it said. At present, the total installed capacity of the company is 67,832.30 MW through 23 coal-based, 7 gas-based, 1 hydro, and 19 renewable energy projects. In addition, under JVs, NTPC has 9 coal-based, 4 gas-based, 8 hydro and 5 renewable energy projects.
InterGlobe Aviation shares decline after co-founder Rakesh Gangwal resigns
The shares of the airline settled at Rs 2,079 on Monday, down 1.8 per cent from its previous close. In early trade, it fell as low as 4 per cent, data showed. Through a regulatory filing on Friday after the market hours, the airline said its non-executive, non-independent director and co-founder Rakesh Gangwal has tendered resignation from the company's board with immediate effect.
Tata vs Cyrus: SC agrees to hear review petition by Cyrus Investments in open court
In March last year, a bench headed by then Chief Justice S.A. Bobde said all questions of law are in favour of Tata Group and dismissed the appeals filed by Mistry. The top court also upheld the Tata Sons decision to sack Cyrus Mistry on October 24, 2016. A bench headed by Chief Justice N.V. Ramana and comprising Justices A.S. Bopanna and V. Ramasubramanian considered the review petition filed by Mistry. Justice Ramasubramanian dissented.
ED collects data of Indiabulls clients, company writes to NSE
The Enforcement Directorate (ED), which on Monday conducted raids at the offices of Indiabulls Housing Finance in Mumbai and Delhi in connection with a PMLA case lodged against the company and its promoter Sameer Gehlaut in April 2021, has reportedly recovered a few incriminating documents. The ED also questioned the Indiabulls officials about a few clients. Their data was provided to the ED by the Indiabulls officials.
Strong demand outlook for domestic solar OEMs aided by policy measures: ICRA
As per the ratings agency, the trend has led many domestic OEMs to announce sizeable capital expenditure to augment the cell and module capacity, including the capex for integrated facilities under PLI scheme by the winning bidders. However, timely commissioning and ramp-up of ongoing capex in the module manufacturing value chain remains critical in the near to medium term.
'India expected to cross $2bn with the two-way trade with Bangladesh
Shringla said the two-way trade in the recent past has witnessed a quantum jump with exports from Bangladesh, for the first time, expected to cross $2 billion this year. In this regard, he said early conclusion of a Comprehensive Economic Cooperation Agreement is vital to enhancing this momentum in trade. He also called for concerted focus on connectivity between the two countries.
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