BUSINESS
Lotus Herbals acquires 32% stake in FixdermaIndia Pvt. Ltd
With this strategic 32% acquisition stake buy Lotus Herbals forays into the Dermaceutical segment offering a premium range of skincare and haircare products that bridge prescription-based products and over-the-counter cosmetics. Commenting on the acquisition, Nitin Passi, Joint Managing Director, Lotus Herbals, says, "Over the past 27 years Lotus has always been an innovation leader in the beauty industry.
Acko General joins the `billionaire' club
After selling vehicle insurance products directly, Acko General plans to focus on the health insurance segment.
The company will invest over $150 million to deepen the health insurance strategy, he said. "We believe health insurance products, claims innovation and a deeply connected ecosystem of health services that improve health outcomes for customers are today's most urgent needs," said Varun Dua, Acko General's Founder & CEO.
Sensex plunges around 1k points; realty stocks fall
Accordingly, both the key indices traded over 1.50 per cent lower from their previous closing mark, respectively. Notably, the Sensex plunged to nearly about a 1,000 points. It touched an intra-day low of 60,010.21 points. In the initial trade, the key indices opened on a flat note and started to fall from the opening. Globally, Asian stocks fell on Thursday amid concerns that the recovery from the pandemic will slow as elevated inflation forces tighter monetary policy.
EU opens probe into Nvidia's $40 bn acquisition of chip maker Arm
The Nvidia deal to purchase the UK-based company Arm from SoftBank for $40 billion was announced in September last year. The Commission said in a statement late on Wednesday that the merged entity would have the ability and incentive to restrict access by Nvidia's rivals to Arm's technology, and that the proposed transaction could lead to higher prices, less choice and reduced innovation in the semiconductor industry.
Equity indices trade lower; Sensex down by over 450 pts
At 10 a.m., the 30-scrip sensitive index traded at 60,690.03 points, down 453.30 points or 0.74 per cent. The Sensex opened at 61,081 points from its previous close of 61,143.33 points. Besides, the NSE Nifty50 traded at 18,070.40 points, lower by 140.55 points or 0.77 per cent. It opened at 18,187.65 points from its previous close of 18,210.95 points.
Climate change may reduce farm incomes in India by 15%: Study
The first study of its kind, the G20 Climate Impacts Atlas by the Euro-Mediterranean Center on Climate Change (CMCC), the leading Italian research centre on climate change and National Focal Point for the IPCC, collates scientific projections of how climate impacts will play out in the world's richest countries over the coming years. It finds that on a high-emissions pathway, climate impacts spiral to cause devastating damage across the G20.
Maruti to wait for 'greater demand' for EVs before entering segment: R.C. Bhargava
At a virtual event on auto maker's Q2FY22 financial results, Bhargava said: "Volumes of EVs are in 100s and they leave us a little bit less excited. If, I start to sell EVs then I do like to sell maybe 10,000 EVs in a month or something like that."
"If I am selling 2 million cars a year, then does it make sense for me to sell less than 100,00 cars a year. I have to have a car which is more sellable. There has to be a greater demand for the product."
'10% thermal power capacity still vulnerable despite easing demand'
Despite the recent dip in demand (10 per cent over October 16 and 17) due to heavy rains, shortage of coal persists with inventory at 5 days for these power plants. Over half of these capacities do not have fuel supply agreements (FSAs), which increases their reliance on coal, either through imports or through e-auction where prices remain elevated. The scarcity and higher prices of coal may force these capacities to shut down for a few days as their operating cost could outweigh revenue, a Crisil analysis indicated.
Adani Enterprises' consolidated EBIDTA for H1 FY22 rose by 77% to Rs 2,210 cr
For Q2 2022, consolidated total income increased by 46 per ent to Rs 13,597 crore due to significant increase in index prices in IRM segment. Consolidated EBIDTA increased by 33 per ent to Rs 1,262 crore due to increase in revenue and better margins in IRM business. Consolidated PAT attributable to owners from Established Businesses increased by 67 per cent to Rs 579 crore in line with higher EBIDTA.
All ministries told to clear Air India's dues immediately
An office memorandum from the Finance Ministry's Department of Expenditure said: "Recently, the Government of India has decided to disinvest Air India, and the process of disinvestment of Air India and Air India Express is ongoing." "Air India has stopped extending credit facilities on account of purchase of air tickets. Therefore, all Ministries or Departments are directed to clear Air India's dues immediately."
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