BUSINESS
Equity settles in red, Nifty IT top losers; sugar stocks gain
Among the sectoral indices, Nifty IT, realty and financial services tanked the most on Thursday, while Nifty auto and consumer durable traded in the green, the NSE data showed. On the specific stocks front, HDFC, ONGC, SBI Life, Grasim Industries, Infosys were the top losers, while Hero Motocorp, Bajaj Auto, Divi's Labs, Maruti Suzuki, and ITC the top runners.
Third Covid wave sequentially eases India's Jan services output: PMI
The seasonally adjusted India Services Business Activity Index came in at 51.5 (index reading) for January. However, it was lower than 55.5 (index reading) in December. The PMI ranges between 0 and 100, with a reading of above 50 indicating an overall increase compared to the previous month.
Emami founders step down from executive positions
The Board unanimously decided to appoint R.S. Goenka as Non-Executive Chairman while re-designating R.S. Agarwal as Chairman Emeritus effective 1st April, 2022. Both the Founders will not accept any emoluments from the Company for taking up their new positions. The decision comes in the wake of Board restructuring that was part of the succession planning of the FMCG business of the Group.
Google empowered nonprofits with over $2 bn in 5 years
Google.org committed to contributing $1 billion to organisations around the world that are working to create opportunities for everyone. In addition to grants and employee contributions, Google said it has donated over $7 billion in Ad Grants since 2017. The pandemic resulted in Google.org's biggest-ever mobilization of resources to focus its efforts in areas where it can have the most impact, such as health and science, distance learning and economic relief and recovery.
Google empowered nonprofits with over $2 bn in 5 years
Google.org committed to contributing $1 billion to organisations around the world that are working to create opportunities for everyone. In addition to grants and employee contributions, Google said it has donated over $7 billion in Ad Grants since 2017. The pandemic resulted in Google.org's biggest-ever mobilization of resources to focus its efforts in areas where it can have the most impact, such as health and science, distance learning and economic relief and recovery.
Blume Global continues rapid growth in India, incorporates LiveSource acquisition to wider market
Blume Global, a leading provider of true end-to-end supply chain visibility technology solutions, has experienced exponential growth in India in less than two years. Since its Bangalore office opened in 2020, the India team has grown to nearly 400 employees, representing a $10 million investment in the local community.
400 Vande Bharat trains: Rs 40,000 Cr business opportunity and jobs
Presenting the Union Budget for 2022-23, Indian Finance Minister Nirmala Sitharaman said 400 new energy-efficient Vande Bharat trains will be introduced in three years. Indian Railways officials preferring anonymity told IANS that 400 Vande Bharat trains over the next three years is not just headline catching announcement. It is about Rs 40,000 crore business opportunity that would also create 15,000 jobs and several spin-off benefits.
Tesla faces lawsuit from former employee
Barker, in the suit said that Tesla failed to address racist abuse directed towards her by a coworker and that it retaliated against her when she tried to report the abuse, reports Insider. Barker, in her complaint, states that she was subjected to racial and homophobic insults during her stint at the company. Her complaint also mentioned instances of physical attacks on her at the facility.
Cap on surcharge of long-term capital gains provides relief to HNIs
Such surcharge is already fixed at 15 per cent for capital gains arising from on-market sale of equity shares and certain other securities, capital gains arising from any other capital asset are subject to a surcharge as high as 37 pert cent, depending on the total income of the taxpayer.
India pens $500mn LOC to pump petroleum to Sri Lanka
The Export Import Bank (EXIM) of India and the Sri Lanka government signed a LOC Agreement for purchase of petroleum products on Wednesday in the presence of Sri Lanka's Finance Minister, Basil Rajapaksa and the High Commissioner of India to Sri Lanka, Gopal Baglay.
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