BUSINESS
India's Jan wholesale price inflation sequentially eases to 12.96%
Accordingly, the annual rate of inflation, based on wholesale prices, eased to 12.96 percent last month from 13.56 percent reported for December 2021. However, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry showed an exponential rise last month over January 2021, when it stood at 2.51 percent.
RBI, govt working in complete harmony on crypto, says Sitharaman
"With RBI & Ministry, not just on crypto but on every other thing as well, I think there's complete harmony with which we're working, respecting each other's domain and also knowing what we've to do with each other's priorities & in the interest of the nation. There's no turfing here," said Sitharaman after the meeting.
Cult.fit acquires India biz of global fitness chain Gold's Gym
Cult.fit, now a unicorn, picked up a majority stake in F2 Fun & Fitness India Pvt Ltd, becoming the master franchise partner for Gold's Gym in India. Cult.fit now aims to expand the Gold's Gym brand in key geographies such as Sri Lanka, Bangladesh, Maldives, Nepal and Bhutan.
MediaTek witnesses 23.1% YoY growth in revenue for Jan 2022
The company's consolidated revenue in January 2022 was NT$43.502 billion (around $1.55 billion). According to an IT Home report, the chipmaker has predicted that the revenue for the first quarter of 2022 would be between NT$131.2 billion (around $4.7 billion) to NT$141.5 billion (around $5.1 billion), which is an increase of about 2 percent to 10 percent over the previous quarter, and an increase of 21% to 31% year-on-year.
LIC yet to comply with certain IRDAI investment norms of pension, group, life annuity funds
The LIC in its Draft Red Herring Prospectus (DRHP) has said the Insurance Regulatory and Development Authority of India (IRDAI) has stipulated that pension, group and life annuity funds to be invested in "Approved Investments", which include Central government securities, state government securities and other approved securities.
Banks had tried to revive ABG Shipyard but failed: SBI
It said that the fraud was mainly attributed to diversion of funds, misappropriation, and criminal breach of trust. The Central Bureau of Investigation (CBI) on Saturday conducted raids in Rs 22,842 crore loan fraud case lodged against Gujarat-based ABG Shipyards and its directors, at over a dozen places, including Surat, Bharuch, Mumbai, and Pune which led to the recovery of incriminating documents.
LIC files DRHP, intends to list 5% equity via IPO
The insurer is looking to sell the Centre's five per cent equity stake in the company via its upcoming IPO, the DRHP document showed. The Centre aims to offload a total of 316 million equity shares to investors through the public offering of the 6.32 billion outstanding shares, the document showed. The Centre wishes to conclude the IPO by the end of FY22 ending March 2022.
Struggling with long Covid? This over-the-counter drug may hel
Researchers from the University of California, Irvine, report the case of two middle-aged, healthy and active women who suffered from long Covid symptoms, and showed relief upto an year after taking the popular over-the-counter drug antihistamines, used to treat allergic rhinitis, common cold, influenza, and other allergies.
Sindhu Trade Links becomes multibagger, shares up 2000% in 2021
Stock prices ranging in single digit are known as penny stocks, and they typically have high volatility associated with them. Multibagger stocks are those whose share prices rise exponentially over a short period of time.
Centrum Broking gives 'buy' call for M&M, Hindalco, SAIL
Tractor segment could see improvement in FY23 depending on crop yield and monsoons, it said. The target price is kept at Rs 1,081 against its current price of Rs 850 per share. For Hindalco, the target price is seen at Rs 641 as against its current price of Rs 540.
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