BUSINESS
'Gold Bonds' next series to be issued at Rs 4,786 per gram
According to the Ministry of Finance, the Sovereign Gold Bond Scheme 2021-22 (Series IX) will be opened for subscription during the period January 10-14, 2022 with settlement date January 18. "The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode," the ministry said.
Growth Curve: India's FY22 GDP expected to grow at 9.2%
In 2020-21, India's economy had contracted by 7.3 per cent. On Friday, the First Advance Estimates of National Income for financial year 2021-22, estimated that 'Real GDP' or 'GDP at Constant Prices' (2011-12) in the year 2021-22 rose to Rs 147.54 lakh crore from Rs 135.13 lakh crore, the 'Provisional Estimate of GDP' for the year 2020-21.
Equities settle marginally high on Friday; Nifty oil & gas top gainer
The Sensex and Nifty settled at 59,744 points and 17,812 points, up 0.2 per cent and 0.4 per cent from their previous close, respectively. On Friday, the Nifty oil and gas index jumped sharply during the session, NSE data showed. On the stocks front, Grasim Industries, ONGC, Hindalco, HDFC Life, and Shree Cement rose the most, rallying 4.6 per cent, 4.2 per cent, 2.9 per cent, 2.3 per cent, and 1.9 per cent, respectively.
Green Energy: India's clean energy push propels renewable companies' stocks
Accordingly, shares of Suzlon Energy, Orient Green Power, Inox Wind, JSW Energy, Adani Green Energy, Websol Energy System, Borosil Renewables have seen a substantial rise. Earlier, Prime Minister Narendra Modi at the COP26 meet in Glasgow said India aims to increase its non-fossil energy capacity to 500 Giga Watt by 2030, besides the country wishes to fulfil 50 per cent of its energy requirements from renewable energy sources by 2030.
Bitcoin drops to 3 month-low after US Fed signal
Bitcoin traded Friday at $42,086, down 2.1 per cent over the past 24 hours, according to CoinDesk. The world's largest cryptocurrency fell to as low as $41,012, hitting the lowest level since September 29 and taking the weekly decline to 12 per cent, CoinDesk reported. Bitcoin's record high is $68,990.90.Ethereum, the second-largest digital currency, has declined 4.9 per cent over the past 24 hours to $3,231, the report said.
ECLGS saved 13.5 lakh MSMEs, 1.5 crore jobs: SBI Research
"In absolute terms, MSME loan accounts worth Rs 1.8 lakh crore were saved from slipping into NPA during the period," the report said."This is equivalent to 14 per cent of the outstanding MSME credit being saved from becoming NPA." In May 2020, the Centre launched the ECLGS scheme for the MSME sector to provide relief to the sector amidst the pandemic. Of the 13.5 lakh beneficiaries, over 93 per cent were those in micro and small segments, the report said.
Retail, hospitality sectors saw significant hiring in Dec: Report
The rebound was, however, likely to be hampered once again with the Omicron variant spread in the country this month. According to the Naukri JobSpeak Index, the festive year-end marked an upswing in hiring activity over last year across all major metros.
'Startup India Innovation Week' to begin Jan 10, showcase entrepreneurship across India
The event which also aims to commemorate the 75th year of India's independence 'Azadi Ka Amrit Mahotsav', will begin on January 10 and continue til January 16. 'Startup India Innovation Week' will have sessions ranging from topics such as enhancing market access opportunities, discussions with industry leaders, best practices by states, capacity building of enablers, reverse pitching by incubators, technology exhibitions, corporate connects and more.
'AI' will emerge as a game-changer in the Real Estate Sector, says Pankaj Bansal
'Artificial Intelligence' (AI) is entering the real estate business from consumer buying and selling strategies to investing in the designing, and construction of large commercial, residential and mixed use projects. Knight Frank 2022 report projects around 5 per cent capital value growth for the residential property segment in the country in 2022.
Equity market up in early trade on Friday
At 9.35 a.m., Sensex traded at 60,011 points, up 0.7 per cent from its previous close of 59,602 points. It opened at 59,776 points.
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