BUSINESS
Kanpur businessman Piyush Jain sent to 14 days judicial custody
A GST official said that 23 kg gold and 600 kg of sandalwood oil hidden in an underground storage, having a market value of about Rs 6 crore was seized from his office and factory premises. Since the gold so recovered is having foreign markings, Directorate of Revenue Intelligence (DRI) is being roped in for necessary investigation.
Maybe I'm partly Chinese: Musk reacts to viral video of his doppelganger
The video originally posted on Douyin, the Chinese version of Tiktok, showed the lookalike dressed in a black coat while standing next to a black car. The man, apparently Chinese, quickly went viral on social media with many dubbing him as 'Yi Long Musk'. However, the video first appeared on the video-sharing platform TikTok and then spread to other social media sites like Twitter and Facebook.
Amid boycott, India-China trade volume at record high of $100bn: Report
Chinese state media pointed out that while there are those in India who are concerned about the trade deficit, advocating not to rely too much on trade with China, the data speaks for itself. "Whatever the political considerations of these people, seeing China as India's enemy should not be an option for India and one that India cannot afford to make. Further increasing cooperation is the right choice," the Global Times report said.
Value buy lifts equities; healthcare stocks rise
Sector-wise, healthy buying was seen in healthcare and interest rate sensitive stocks like banks and capital goods. Besides, the Indian rupee strengthened to around 73.34 to a US dollar from its previous close last Friday at 73.47 against a greenback.
Inflation replaces Covid shock as top risk factor for India
In India, economists identify inflation as the greatest risk, as per the survey. Tirthankar Patnaik, Chief Economist at National Stock Exchange of India, says that "inflationary pressures persist amid rising commodity prices and sustained supply-side bottlenecks. The emergence of the most recent variant, Omicron, is likely to further aggravate the supply-side woes with countries imposing restrictions again".
Rising Covid cases, global cues subdue equities
Rising Covid cases along with mixed global cues pulled India's key equity indices -- S&P BSE Sensex and NSE Nifty50 -- lower during the trade session on Monday morning. Consequently, both the indices had a gap down opening from their respective previous closes.
India online used car sales to reach 8.3mn units by 2026: Report
Data monetisation, in-vehicle connectivity, subscriptions, rental, charging, and long-term maintenance packages are expected to command a large share in the profit pool, according to data provided by Bengaluru-based market research firm RedSeer. "Reduced period of car ownership among the millennial demographic has also been observed, and is a key contributor to the growth in the used car segment," the report mentioned.
RBL Bank didn't provide satisfactory answer for RBI appointing director
RBI's long-term discomfort with the unsecured heavy asset-side construct (MFI plus cards at 31 per cent) creating asset quality risks as seen during the Covid-19 pandemic and poor compliance with its directives about risk management/governance/succession could have possibly led to its swift intervention, apart from ensuring a smooth management transition and comforting the stakeholders.
Investors approach RBI to buy stake in RBL Bank: Report
Several well known investors have lined up to buy a stake in RBL Bank and sought Reserve Bank's permission, according to a media report.The report said that the investors approached RBI with proposals to buy 10 per cent stake in the bank.
S.Korea's economy expected to rank 10th largest for 3 straight yrs: IMF
South Korea's economy is projected to continue to rank the 10th largest for three straight years in 2022 in terms of nominal gross domestic product (GDP), data from the International Monetary Fund have showed. South Korea's nominal GDP is expected to amount to $1.82 trillion and $1.91 trillion for this year and next year, respectively, Yonhap news agency reported, citing the data.
Don't Miss
Advertisement