BUSINESS
Accenture elevates Manish Sharma as COO
Current COO Jo Deblaere will retire after 38-year-long career at Accenture, the company said in a statement. "Sharma brings enormous expertise and extensive knowledge of what our clients need and how to digitally transform," said Julie Sweet, chair and CEO of Accenture. In his new role, Sharma's client centricity will continue to build our shared success with our clients as we help them transform every area of their businesses, she added.
Gold demand likely to reach pre-Covid levels in 2022: Quantum MF
Pent-up demand for gold started in 2021. "Even as the Fed is sounding more hawkish every day and Covid-19 is most likely behind us, demand for the yellow metal is getting support from higher inflation, market volatility, US-Russia tensions over Ukraine and the drop in Bitcoin," Mehta said in a report.
IMF chief calls for policy agility, global cooperation
Georgieva noted that there are "three main obstacles" on the path to the global recovery, namely the pandemic, rising inflation and high levels of debt, reports Xinhua news agency. "We need to be like a tiger in this year to deal with the complex challenges ahead, and top of mind is indeed policy agility," he said, referring to the Chinese New Year of the Tiger, which started on Tuesday.
Sensex @1 lakh in five years: Greed & Fear
Jefferies analyst, Wood in his column said the Sensex will hit 100,000 during FY27 or sometime in late 2026 based on such assumptions. The Sensex is currently 58,788. This may seem an aggressive assumption. But in GREED & fear experience India has always been a stock market for growth investors with the multiple to go with it.
Equity settles low; Nifty realty, PSU bank, media, auto in red
Also, subdued global cues weighed on the broader market sentiment on Friday. Thus, Sensex settled at 58,644 points, down 0.2 per cent or 143 points, and Nifty at 17,516 points, down 0.3 per cent or 43 points. Among the sectoral indices, Nifty realty, PSU bank, media, and auto declined sharply during the session, while Nifty FMCG, IT, and metal rose.
'Refund homebuyers before Feb 28', SC on Supertech twin tower demolition
Senior advocate S. Ganesh, representing Supertech, submitted that there are 38 impleadment applications have been filed seeking refund of the amount. "We had a meeting with the amicus and the amount agreed will be paid to them. It will be paid on or before February 28," said Ganesh.
IL&FS sells stake in WCBTRL, resolves Rs 324 cr group debt
Accordingly, the stake was sold to IL&FS' majority joint venture partner Vishvaraj Infrastructure Limited (VIL). "The sale entails VIL taking over entire external debt of WCBTRL amounting to Rs 306 crore, providing equity value of over Rs 12 crore and settling IL&FS Group dues amounting to Rs 6 crore - thereby resolving Rs 324 crore from the overall IL&FS Group debt of approx. Rs 99,000 crore, as of October 2018,"
Subdued global cues dent equities; realty stocks fall
At the start of the day's trade, the two indices opened almost flat but rose in the initial minutes to make intra-day high. However, they fell soon after and made an intraday low post noon. Globally, Asian stock markets were mostly subdued following the broadly negative cues. On the domestic front, volumes on the NSE are below recent averages. Amongst sectors Metals led the gainers while Realty, Banks and Auto indices fell the most.
India's PSBs expected to source capital to be competitive
Accordingly, the ratings agency said that the state is inclined to place the burden of raising growth capital on its banks, as indicated by a lack of capital allocation for state banks in the government's latest budget. "This lack of capital allocation arguably indicates the government's belief that bank financials will remain healthy in the near term, enabling banks to support capital adequacy by sourcing fresh capital on their own," Fitch said.
Urban unemployment rate at 6.9% in 2019-20: Union Minister
The joblessness rates in 2017-18 and 2018-19 were 7.7 percent and 7.6 percent respectively. The data on employment and unemployment is collected through the PLF Survey conducted by National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) since 2017-18. The minister said in Rajya Sabha that the government has launched All-India Quarterly Establishment Based Employment Survey (AQEES) in April 2021.
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