BUSINESS
Record food grains production of 316.06 mn tonnes estimated
Record food grains production of 316.06 million tonnes (MT) is estimated, as per the Second Advance Estimates of production of major crops for 2021-22, released by the Agriculture and Farmers Welfare Ministry on Wednesday. This is higher by 5.32 million tonnes than production of food grain during 2020-21 and the production during 2021-22 is higher by 25.35 million tonnes than the previous five years' (2016-17 to 2020-21) average production of food grains, a Ministry statement said.
FY22 current account deficit faces mild upside risk: Acuite Ratings
The wider merchandise trade deficits pulled India's Q2FY22 current account into the negative territory. The current account swung into negative territory with a deficit of $9.6 billion in Q2FY22 from a surplus of $6.6 billion in the preceding quarter.On Tuesday, official data showed that the country's merchandise trade deficit widened by 20.23 per cent on a year-on-year basis to $17.42 billion in January 2022 from $14.49 billion in the like period of 2021.
Economic activity gaining strength, job landscape to improve: RBI Bulletin
It also said that domestic macroeconomic conditions are striking a different path than global developments."In India, the recovery in economic activity is gaining strength and traction as it emerges from the third wave. Both manufacturing and services remain in expansion with optimism on demand parameters and uptick in consumer and business confidence," the bulletin said.
Profit bookings, fund outflows subdue indices; metal stocks down
The FIIs were net sellers on BSE, NSE & MSEI in the capital market segment. They sold Rs 1,890.96 crore worth of equities. Globally, Asian shares rallied on Wednesday as fears of a Russian invasion of Ukraine dissipated after Moscow indicated it was returning some troops to base in an apparent de-escalation, delivering investors a measure of relief.
BSE-listed Innovators Facade Systems hits 10% upper circuit on fresh order
The rally was triggered after the company announced that it has bagged an order worth Rs 70 crore from the Lodha Group for design, supply, fabrication and installation of facade work in the Mumbai region.The shares of the company settled at the upper circuit at Rs 66.80.Founded in 1999, Innovators Facade Systems operates as a building finishing contractor for both residential and commercial properties in India.
Committed to making Air India world-class airline, says Tata Sons Chairman
In his maiden address to the staff via virtual platform, he said the Tata Group has very big dreams for Air India. According to Chandrasekaran, the airline would focus on customer service, technological advancements such as website, application, front and back-office systems, among others.
Airlines to raise fuel surcharges on int'l routes in March
Starting March 1, the surcharge for one-way tickets on international routes will range from 18,000 won (US$15) to 138,200 won, depending on the routes, Yonhap news agency reported citing a Korean Air official said. The planned hike will raise the surcharges to the highest Level 10 from the current Level 6, which ranges from 10,800 won to 80,400 won.
Role of Dawood's brother emerges during questioning of Qureshi in PMLA case
Iqbal Kaskar has been made an accused in the case. Sources have claimed that ED is planning to arrest him. The court will decide their plea in coming days. Salim Qureshi, the aide of Chhota Shakeel is currently being interrogated by a team of elite officials of the probe agency.
Indian equities rise further in afternoon trade
Reports saying Russia announced the first pullback of troops from Ukraine's borders are also likely to have supported the investors' appetite in the market. At 2.37 p.m., Sensex traded at 58,459 points, up 0.6 percent or 317 points, whereas Nifty traded 17,436 points, up 0.5 percent or 84 points.
IBM acquires Microsoft Azure consultancy firm Neudesic
Headquartered in California, Neudesic has more than 1,500 Cloud and data experts across the US and in India. Neudesic offers deep expertise in technology transformation, delivering Microsoft Azure cloud services to clients across the health and life sciences, financial services, energy and utilities, professional services and retail industries.
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