BUSINESS
NSE fraud: CBI grills Ravi Narain, the CEO before Chitra
Earlier, it was speculated that he had fled to London but the CBI source confirmed that Ravi Narain is very much in Mumbai and his statement wad recorded. Ravi was too evasive and tried to evade a lot of questions. He also requested that his LoC should be closed. Now CBI will record the statement of Anand Subramanian who was hired in NSE by flouting all rules by Chitra Ramakrishna as a Chief Strategic Advisor.
Semicon India Programme receives proposals worth $20.5bn
Accordingly, the proposals were received during the first round of application submission for the Centre's 'Semicon India Programme'. Last year, the Union Cabinet approved the Semicon India Programme with an outlay of Rs 76,000 crore to ensure development of 'Semiconductor and Display' ecosystem in the country.
Specialty chemical maker Vikas EcoTech's shares up over 200% in 1 yr
Vikas EcoTech shares gained over 200 per cent over the past one-year period evidently due to the announcement of production-linked incentives to reduce import dependency for various products. Founded in 1984, Vikas Ecotech is a leading provider of high-end speciality chemicals to buyers across the world. The Centre introduced PLIs for 14 sectors, of which specialty chemicals is one of them. India is a major importer of specialty chemicals.
Home sales up 13% in 2021; Ahmedabad, Hyd chart leaders, says brokerage
Real estate activity in India's leading markets intensified towards the second half of 2021, after a grim 18 months as the economy was consistently battered by multiple waves of the pandemic, the brokerage said. A much sharper growth was seen in terms of new supply in 2021 as against 2020. Accordingly, a total of 2.14 lakh units were launched in 2021 compared to 1.22 lakh units in the preceding year, with an increase of around 75 per cent.
Centrum Broking sees large banks' outlook attractive on strong Q3FY22 growth
Asset quality further improved for banks during the quarter, the brokerage said, adding that the economy bouncing back sharply in Q3FY22 which also coincided with the festive season, helped lenders report better sequential loan growth. In housing finance space, the brokerage bets on Can Fin Homes, whereas UTI Asset Management and Aditya Birla Sun Life Asset Management as preferred picks among the asset management companies.
Global artificial intelligence spending to reach $434 bn in 2022
The market is expected to break the $500 billion mark in 2023, reports IDC. AI solutions are currently focused on business process problems and range from human augmentation to process improvement to planning and forecasting, empowering superior decisions and outcomes. "Advancements in language, voice and vision technologies, and multi-modal AI solutions are revolutionizing human efficiencies," said Ritu Jyoti, group VP, Worldwide AI and Automation Research at IDC.
Semicon India Programme receives proposals worth $20.5bn
Last year, the Union Cabinet approved the Semicon India Programme with an outlay of Rs 76,000 crore to ensure development of 'Semiconductor and Display' ecosystem in the country. "India Semiconductor Mission, which has been set up as a dedicated institution for 'Semicon India Programme', has received 5 applications for Semiconductor and Display Fabs with total investment to the tune of $20.5 billion," the Ministry of Electronics & IT said.
Indian industry welcomes India-UAE trade pact
The agreement to boost bilateral trade is expected to be implemented within 60 days and entails enhanced market access and reduced tariff. It is expected that the CEPA will lead to an increase in bilateral trade from the current $60 to $100 billion in the next five years. The India-UAE CEPA is the first bilateral trade accord concluded by the UAE, and is also India's first bilateral trade agreement in the Middle East and North Africa (MENA) region.
An unknown person was running NSE and Chitra was merely a puppet in his hands
From the email dated December 4, 2015 of the unknown person to Ramakrishna, the unknown person has stated that "Kanchan is the straw and I will be the suction force for this and you will vomit all that is required as always". A SEBI investigation found that from the same, it is evident that Ramakrishna had abdicated all her powers to the unknown person and was playing in the hands of an unknown person through the instrumentality of Anand Subramanian.
Modi inaugurates Garuda Aerospace's manufacturing facilities
According to Agnishwar Jayaprakash, Founder & CEO, Garuda Aerospace, Modi virtually inaugurated the drone manufacturing facilities in two locations and also pressed a button resulting in the taking off of 100 Kisan drones simultaneously in 100 villages. The 100 drones commenced agriculture spraying operations in 16 different states to celebrate 75 years of Independence as part of the 'Azadi Ka Amrit Mahotsav', Jayaprakash added.
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