BUSINESS
Bhilwara Spinners, Nitin Spinners, Nahar Spinning stocks turn multibagger in 2021
All three companies deal in textiles. The shares of Bhilwara Spinners, Nitin Spinners and Nahar Spinning Mills companies rose 219 per cent to Rs 47; 231 per cent to Rs 239; and 524 per cent to Rs 488, respectively, during the year-to-date period of 2021, exchange data showed.
IL&FS completes sale, transfer of Moradabad Bareilly Expressway to its InvIT
This is the first of the many road assets proposed to be acquired by the InvIT in different phases, the company said in a statement. The final consideration for sale of shares was Rs 576.77 crore and the adjusted final consideration for assignment of receivables was Rs 14.26 crore, the company said.
Aditya Birla Capital, GAIL among top 10 stocks to 'buy' in 2022: HDFC Securities
Aditya Birla Capital is the holding company of all the financial services businesses of the Aditya Birla group. "It continues its credible makeover journey to drive consolidated return ratios closer to franchise potential over the next three years," the brokerage said. However, stiff competition from peers and new entrants and worsening of asset quality in the lending book due to the potential third wave of the Covid pandemic.
Equities decline 9% from record high in mid-Oct on FII selling
Lately, risks of another wave of Covid-19 emanating from the Omicron variant also somewhat dented the broader market sentiment among the investors. On October 19, the Sensex had hit the record high of 62,245 points, while on Friday it closed at 57,124 points, almost a decline of 9 per cent. Same is the case for the Nifty. It fell around 8 per cent from 17,155 points to 17,003 points.
'Almost done' with selling Tesla stocks: Elon Musk
He has sold more than three-quarters of Tesla's shares after his Twitter followers replied 'yes' to the poll where he asked them if he should offload 10% of his Tesla stake. However, Musk is yet to provide clarity on whether he has accomplished his stated goal of selling 10 per cent of his Tesla shares.
Banks' improved NPA recovery, declined loan provisioning to continue in 2022: ICRA
Accordingly, the improvement in such parameters has helped realise better profitability for the banks, the rating agency said. However, subdued credit growth and surplus liquidity continue to be a drag on the profit margins for the sector.
Pakistan foreign currency reserves decrease due to ongoing IMF stalemate
The country's total foreign exchange reserves stood at USD 25.027 billion; the foreign reserves held by the State Bank of Pakistan (SBP) stood at over USD 18 billion and commercial banks USD 6.45 billion, Geo News reported. The forex reserves had further dropped from USD 25.027 billion to USD 18.56 billion. The USD 90 million drop in forex reserves was recorded in the week ending on December 10.
Pandemic accelerated Cloud adoption among broadcasters: Amagi CEO
The Indian media and entertainment (M&E) industry has shown remarkable resilience during the pandemic. According to a PWC report, it is expected to reach 4.1 lakh crore by 2025 with a CAGR growth of 10.75 per cent, making it the fastest-growing entertainment and media market globally in terms of consumer and advertising revenue.
China cites harsh biz environment after tax searches on Chinese firms in India
The operations of Chinese firms remain normal at the moment, but relevant companies are looking to reassure their Indian employees as the investigation has caused some concerns, the report said. The investigation has not been concluded yet, but some Chinese experts reiterated on Thursday that the business environment in India is harsh, not only for Chinese firms, but all foreign companies, the report said.
Turkish President urges sectors to cut prices as lira rebounds
Addressing economists and academics in Turkey's financial hub Istanbul, Erdogan said the government would track down the companies and sellers, "including those in the second-hand automotive and housing sectors", who do not lower their prices, reports Xinhua news agency.
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