BUSINESS
Auto ancillary stocks in radar on hopes of fresh demand from OEMs
With supply of chips required in manufacturing of automobiles improving, auto components are likely to see a rebound in demand from original equipment manufacturers across the globe.
PM Modi's initiative will boost investors' confidence in us: Indian startups
In a virtual meeting with over 160 leading startups on Saturday, Modi said that like small businesses, which are the spine of India's economy, startups are turning out to be the game changers.
National Startup Awards for 46 startups
A total of 2,177 applications were received from Startups across the 49 sub-sectors along with applications from 53 incubators and 6 accelerators for the ecosystem enablers categories.
EV owners can now charge vehicles using existing electricity connections
According to the Ministry of Power, these new guidelines and standards will enable a faster adoption of electric vehicles in India by ensuring "safe, reliable, accessible and affordable charging infra and eco-system".
Impex Impact: Wider trade deficit to weaken rupee
Accordingly, the rupee is expected to range from 73.80-74.70 to a USD. Last week, rupee had closed at Rs 74.14 to a USD before hitting a low of 73.70. "Rising trade deficits of $21.7 billion for December should keep rupee under pressure," said Sajal Gupta, Head, Forex and Rates at Edelweiss Securities. "Besides, US Fed's commentary of rate hikes in 2022 shall also be a dampner for rupee and other EM currencies.
International flights linking Bangkok, B'desh cities to start from Agartala's MBB airport
The LGBI and Bir Tikendrajit International Airport in Imphal (Manipur) were earlier declared international airports and the Civil Aviation Ministry before starting the Bangkok and Bangladesh bound flights would soon declare the MBB airport as third international airport in the northeastern region, they said. Water cannon salute was accorded on Saturday after the first flight with 143 passengers on board from Kolkata landed at the new integrated terminal building
Lenders expected to exhibit strong Q3FY22 results
Accordingly, the brokerage house expects its coverage universe of 23 lenders to report 51 per cent YoY growth during the period under review. This trend, the report said will come largely on the back of expected normalisation of provisions. "The pace of collections and recoveries continues to improve, which, concurrent with normalised economic activity, is likely to moderate the stressed pool," the report said.
Zuckerberg, Pichai signed 'big deal' to carve up ad market: Report
Attorneys for Texas and other states alleged in newly unsealed court filings that Zuckerberg and Pichai "personally approved a secret deal that gave the social network a leg up in the search giant's online advertising auctions", reports Politico. Led by Texas Attorney General Ken Paxton, the group of state attorneys general released a new antitrust complaint against Google, giving more details into the company's alleged collusion with Facebook in programmatic ad markets.
Supply side constraints dent India's auto sector Dec sales
In terms of PVs, challenges pertaining to electronic components' availability dragged sales lower on a year-on-year basis in December. Sales of passenger vehicles fell to 219,421 units in December as compared to 252,998 units sold during the corresponding month of 2020. The data furnished by the Society of Indian Automobile Manufacturers (SIAM) does not include sales figures from some key players such as Tata Motors.
1/3rd of small US firms see sales drop amid surging Omicron cases
Economists expect a sharp but short-lived decrease in economic activities due to the rapid spread of the Omicron variant, it said, noting that the number of sick days alone has limited the output of many industries, Xinhua news agency reported.
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