BUSINESS
Equity indices fall marginally in early trade
At 9.45 a.m. the S&P BSE Sensex traded at 57,044 points, down 0.13 per cent. It opened at 57,028 points from the previous close of 57,107 points. Till now it touched a low of 56,382 points.
Now, Reliance Jio raises prepaid tariffs by around 20%
The revised tariffs will come into effect from December 1, the telecom major said. The announcement by Reliance Jio comes few days after Vodafone Idea and Bharti Airtel announced a hike in their respective prepaid tariffs. "The new unlimited plans will go-live on 1st December 2021 and can be opted from all existing touchpoints and channels," Jio said.
Centre's proposed cryptocurrency 'regulation' may shift investors to equity
During the winter session of Parliament starting Monday, the Centre aims to table the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which reportedly seeks a ban on all private cryptocurrencies. The Centre's objective is "to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India".
'New Covid variant unlikely to impact FMCG, pharma, telecom stocks'
On Friday, equity markets in India and several countries declined sharply followed by the reports of the new variant in South Africa.The barometer 30-scrip Sensex closed at 57,107 points, down by 1,687 points, or 2.87 per cent, and the broader 50-scrip Nifty closed the day at 17,026 points, down by 509 points, or 2.91 per cent on Friday.
Tomato prices may stay high for another 2 months: Crisil
Tomatoes account for 10 per cent of the total vegetable production in India. "With standing crops damaged by excess rains in Karnataka, Andhra Pradesh and Maharashtra, which are key suppliers of tomato during October-December, supply is down materially," the rating agency said.
Future Retail says Amazon tried to browbeat CCI
"At this stage, the counsels to Amazon, in utter disregard to the norms and in utter disrespect to the Indian statutory regulatory authority refused to argue the matter and walked out of the proceedings in an attempt to browbeat the CCI," the FRL said in a letter to stock exchanges.
RBI's recent norms may spike NPAs for NBFCs, says ICRA
On November 12, the central bank had said that classification of special mention accounts and non-performing accounts should be done on a day-end position basis and upgraded from an NPA to standard category only after clearance of all outstanding overdues.
Diesel, petrol prices unchanged since Diwali
Accordingly, diesel and petrol prices in Delhi remained static at Rs 86.67 per litre and Rs 103.97 per litre, respectively.In the financial capital Mumbai, they were priced at Rs 94.14 and Rs 109.98, respectively. Prices also remained static in Kolkata at Rs 89.79 and Rs 104.67, respectively. In Chennai, petrol and diesel remained at Rs 91.43 and Rs 101.40.
Investors' money top concern as India prepares to see Crypto bill
With an estimated 15 to 20 million crypto investors, and no clarity on the size of the Indian crypto market, a blanket ban is set to shake up the entire crypto ecosystem. A recent advertisement by the Blockchain and Crypto Assets Council (BACC), a part of the Internet and Mobile Association of India (IAMAI) with industry players like CoinSwitch Kuber, CoinDCX, WazirX and Zebpay on board, claimed that crores of Indians have invested over Rs 6 lakh crore in crypto assets to date -- a figure which is highly questionable, as no one has any actual idea about the kind of money being routed via crypto exchanges.
India's foreign exchange reserves rise by $289 mn
The Reserve Bank of India's forex reserves increased to $640.401 billion from $640.112 billion reported for the week ended November 12. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF. Similarly, the value of the country's gold reserves gained by $152 million to $40.391 billion.
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