BUSINESS
Smooth Landing: IGIA's T1 to be ready by next year, expansion on-course
At the newly-constructed arrival hall for the upcoming terminal, Rao said: "After T3, we felt a need to have more capacity. The integrated Terminal 1, under phase 3A of the expansion plan, will add the needed capacity. It will be ready by next year." The newly developed Terminal will have passenger handling capacity of 40 million per annum.
'Indian banking sector in best financial health in decades'
The agency has revised the outlook on the overall banking sector to further improve in FY23. "The improving health trend that began in FY20 is likely to continue into FY23," it said. Furthermore, Ind-Ra expects financial metrics to show improvement in FY23, backed by strengthened balance sheets and an improving credit demand outlook with an expected commencement of corporate capex cycle.
India's FY22 GDP growth expected at 9.5%, FY23 at 7.5%: Acuite Ratings
The ratings agency cited that adverse impact of elevated commodity prices and the potential financial market volatility on account of monetary policy normalisation as some of the downside risks. "From growth perspective, the index contracted sequentially by 2.5 per cent MoM in Jan-22 from an expansion of 3.3 per cent in Dec' 21."
Nykaa hits fresh all-time low; shares down around 80% from peak
The beauty and wellness e-commerce company's shares fell around 80 per cent from its all-time high of Rs 2,573 in late November 2021. On Thursday, it settled at Rs 1,446 per share, down nearly four per cent from the previous close. So far in February, the shares declined around 18-20 per cent.
Nestle India's Q42021 net profits down 20%, revenue up 9%
During the entire calendar year, net profits, however, increased three per cent to Rs 2,144.8 crore, as compared to Rs 2,082.4 crore reported in 2020. Revenue from operations during the quarter stood at Rs 3,739.3 crore, a growth of 8.9 per cent as against Rs 3,432.5 crore reported in the year-ago quarter.
NATO concerned that Russia trying to stage pretext for Ukraine attack
He was asked by the Wall Street Journal about Kremlin's comments blaming Kyiv for the shelling in Donbas. Stoltenberg said, "We are concerned that Russia is trying to stage a pretext for an armed attack against Ukraine. There is still no clarity, no certainty about Russia's intentions." "Russia has amassed the biggest force we have seen for decades," he added.
FIIs outflows, Russia-Ukraine tensions subdue indices; banking stocks down
The FIIs were net sellers on BSE, NSE & MSEI in the capital market segment. They net sold Rs 1,242.10 crore worth of equities. Globally, markets remained on edge on reports of skirmishes between Russia and Ukraine. On the positive side, the US Fed minutes indicated that while the central bank intends to shortly begin raising interest rates, its decisions would be data-dependent.
Musk recalls billionaire who once said Tesla would fail
On Wednesday, the 98-year-old investor said cryptocurrencies should have been banned and likened it to "venereal disease". Responding to his comments, Musk, a crypto supporter, recalled the time when Munger said Tesla could fail. "I was at lunch with Munger in 2009 where he told the whole table all the ways Tesla would fail," said Elon Musk in a reply tweet.
Equities settle marginally down; banking stocks top losers
In the morning session, the indices traded marginally in the red to later rise in afternoon trade, while it tanked towards the end of the session. Accordingly, Sensex closed at 57,892 points, down 0.2 per cent or 105 points, whereas Nifty closed 17,305 points, down 0.1 per cent or 18 points. Banking stocks were the top drags during the session, data showed.
Vistara flight's precautionary landing saved lives of air passengers
Earlier, it was said that the flight had to make an emergency landing. The airline told IANS that it was a precautionary turn around. "A technical snag was detected on Vistara flight UK 697 operating from Delhi to Amritsar on February 17. As a precautionary step, the pilots decided to turn back and land safely at the IGI Airport.
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