BUSINESS
Omicron could push air traffic recovery into fiscal 2024: Crisil
The agency had earlier expected the full recovery to happen in fiscal 2023. It said that a material impact on the credit quality of airport operators, however, is unlikely as the dip in revenue is expected to be limited by a likely strong rebound, and the operators have adequate debt servicing cushions, liquidity buffers and financial flexibility to absorb the blip in traffic.
Tata Teleservices stocks hit 5% lower circuit for 2nd straight session
Post conversion of dues into equity, the Centre is expected to hold a 9.5 per cent stake in the company, it said in a regulatory filing on Tuesday. The conversion, however, will be subject to a mutual agreement on the terms and conditions, including the governance of the company post-conversion of the interest amount into equity shares, it added in the same filing.
TSMC to invest record $44 bn on chip capacity expansion in 2022
In its latest earnings release, the Taiwanese firm said it expects capital spending to be between $40 and $44 billion in 2022, up from a previous record of $30 billion in 2021. According to a report in Nikkei Asia, the announcement puts "the chipmaker on track to meet its plan of investing $100 billion over the three years till 2023".
Equities extend gaining streak, settle marginally higher
Notably, with Thursday's marginal gains, indices traded on a positive note for fifth consecutive session. Return of foreign portfolio investors (FPIs) into the Indian equity segment likely supported the market sentiment. On Thursday, the Sensex and Nifty settled at 61,235 points and 18,257 points, up 0.14 per cent and 0.25 per cent from their previous close, respectively.
India-UK launch crucial free trade negotiations
The FTA negotiations in New Delhi are expected to facilitate the target of doubling bilateral trade between India and the UK by 2030, set by the Prime Ministers of both the nations, Narendra Modi and Boris Johnson, in May 2021. Speaking on the occasion, Goyal said that both India and the UK are vibrant democracies, with a partnership build on the shared history and rich culture of the two nations.
Despite decline, Lenovo tops global PC market in Q4 2021
The decline was due to the slowed US market, weak Chromebook demand and supply chain issues, which impeded Lenovo's ability to supply PCs to enterprise customers. These factors also contributed to HP's 4 per cent year-over-year decline. However, HP's decline was tempered by robust growth in the Asia-Pacific market. HP with 21.1 per cent share was second, followed by Dell with 19.5 per cent global market share in Q4.
Union Budget 2022-23 likely to give more incentives to boost startups
In her last budget, the finance minister announced extension of tax holidays for startups along with exemption of capital gains for investment till March 31, 2022. Access to credit and tax incentives are areas that would be looked into. "We will further focus on startups and unicorns. Expect more policy measures in the budget," an insider told India Narrative.
Paytm's IPO braved stock market when global fintech was drowning
Overall, Paytm IPO is the 4th largest fintech stock debut. "Paytm, which opened at an offer price of Rs 2,150 braved the markets on a tough day and its share price was also impacted. But Paytm came out stronger than how most other fintech companies fared during the same time," said Dr Ravi Singh, Research Head, Share India.
Flipkart acquires electronics recommerce platform Yaantra
The acquisition, said Flipkart, will augment its existing refurbishment business in the smartphone category. "Through the acquisition of Yaantra, we are enhancing our capabilities in a domain that is critical for the growth of the digital economy in India, as well as developing a comprehensive service ecosystem to support its expansion," said Ravi Iyer, Senior Vice President and Head, Corporate Development, Flipkart.
Auto component maker Pricol shares up 8%, 155% in past 1 yr
During the entire session, the shares pared a portion of its intra-day gains and settled nearly 8 per cent high at Rs 129. The company is heavily investing in next-gen technologies to sustain growth besides continuing with its focus on reducing debt to become debt free over the next few quarters.
Pricol commenced its operations in 1975 in Coimbatore is a manufacturer of automotive instruments.
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