BUSINESS
Dhankhar-Amit Mitra face off over Bengal Business Global Summit
Amit Mitra's outburst comes after Dhankhar asked the Mamata Banerjee government to come out with a white paper on Bengal Global Business Summit (BGBS) with details of investments attracted by the state through those programmes. Mitra wrote on his Twitter handle -- "Governor said on 9th of Nov at meet and Greet event as reported, "We have to ensure there is no room for conflict...no room for adversarial situation.. only one way, togetherness." Very next day, he tweeted the opposite of these utterances, in a mode of all out conflict? Shocking!!!"
Fuel prices hold for a week despite firm global oil rates
The pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. last week on Thursday from the previous day's level of Rs 110.04 a litre, remained at the same level. The diesel prices also remained unchanged in the capital at Rs 86.67 a litre. In the financial capital Mumbai, petrol continued to be priced at Rs 109.98 a litre and diesel Rs 94.14 a litre. Prices also remained static on Wednesday in Kolkata where the price of petrol reduced by Rs 5.82 to Rs 104.67 per litre and that of diesel by Rs 11.77 to Rs 89.79 per litre last week.
Equity-linked MF attracts over 5K cr in October
The net inflows in September were over Rs 8,600 crore and it was Rs 8,056.80 crore in August. In addition to this, the contributions through systematic investment also increased to on a sequential basis last month to a record high of Rs 10,518.53 crore.
COP26: India commits to enhance transition to zero emission vehicles
30 countries including Canada, the UK, and Mexico and 6 major automakers including Ford, Mercedes-Benz, General Motors and Volvo also pledged to cooperate with each other to make zero emission Vehicles the new normal by making them accessible, affordable, and sustainable in all regions by 2030 or sooner.
Bank of Baroda records over 24% growth in Q2FY22 net profit
The state-run lender's net profits increased to Rs 2,088 crore from Rs 1,679 crore which was recorded in the previous fiscal year. Their net interest income (NII) also registered a growth of 2.11 per cent on a YoY basis and increased to Rs 7,566 crore in Q2FY22 from Rs 7,410 crore in Q2FY21
Listing Day: Nykaa's market capital crosses over Rs 1L cr
Listed at Rs 2,001 at the opening bell, the scrip, as against the offer price of Rs 1,125, went to touch a high of Rs 2,248. It closed at Rs 2,206.70. Consequently, the market cap of FSN E-Commerce Ventures, which owns Nykaa, stood at 104,360.85 crore. At present, the promoter family holds around 53 per cent stake in the firm. In comparison, the market cap of BPCL stood at Rs 93,614 crore, Britannia Inds at Rs 89,051 crore, Dr Reddy's Lab at Rs 80,349 crore and IndusInd Bank at Rs 79,912 crore.
Zomato's loss widens to Rs 430 cr as delivery costs rise
The company, which went public recently, had posted a loss of Rs 229 crore in the same period last year. According to CEO Deepinder Goyal, the losses went up owing to investments in the growth of its food delivery business. "Three reasons to be specific - a) increased spending on branding and marketing for customer acquisition, b) increased investments and growing share of smaller/emerging geographies in our business (which are less profitable today compared to more mature cities) and c) increased delivery costs due to unpredictable weather and increase in fuel prices," Goyal said in a statement.
NBFC collections for securitised retail pools remain steady
Collection efficiency, including overdue collection, for the most affected asset classes, viz microfinance and SME loans, reached close to 100 per cent for September 2021 from a low of 80 per cent seen in May 2021. Collections in the housing loan segment continued to remain healthy during Q2 FY2022, post swiftly recovering to pre-second wave level in June 2021.
Nykaa's founder Falguni Nayar is no stranger to India Inc
Notably, the stellar opening of Nykaa's stock listing on Wednesday has made Nayar one of the richest self-made billionaires in the country. Besides her, the stock's debut catapulted its promoters -- the Nayar family -- as one of India's richest self-made billionaires. At present, the promoter family holds around 53 per cent stake in FSN E-Commerce Ventures, which owns Nykaa.
Paytm makes history as India's largest IPO bidding ends with 1.89x oversubscription
As per data from the exchanges, the subscription at the end of Day 3 saw the largest IPO being over 2.79 times oversubscribed by QIBs and 1.66x by retail investors. A total of 9,14,09,844 Paytm shares have been bid for, as opposed to the 4,83,89,422 shares available.
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