BUSINESS
Adani Group signs 35-year BOT deal to develop Colombo Port
The over $700 million deal, which was struck in Colombo with the Indian partners joining virtually, is to run for 35 years with the Adani Group having majority 51 per cent share, followed by John Keels (34 per cent) and SLPA (15 per cent). Following a 2019 tripartite agreement with India and Japan, the Adani Group was to develop the East Container Terminal (ECT) jointly with Japan.
Lower trade deficit swings India's Q1FY22 current account into $6.5 bn surplus
The current account swung into positive territory with a surplus of $6.5 billion in Q1FY22 from a deficit of $8.1 billion in the preceding quarter.
Ola Electric raises over $200 mn, takes valuation to $3 bn
Ola said it will accelerate development of other vehicle platforms including electric motorbike, mass market scooter and its electric car. "We're proud to lead the EV revolution from India to the world. India has the talent and the capability to build technologies of the future for the industries of the future for the entire world," said Bhavish Aggarwal, Founder and CEO, Ola.
India's April-Aug fiscal deficit reaches over 31% of FY22 target
The fiscal deficit -- the difference between revenue and expenditure -- for the April-August 2021-22 period stood at Rs 468,009 crore, or 31.1 per cent of the budget estimates (BE). The FY22 deficit has been pegged at Rs 15.06 lakh crore. Besides, the CGA data showed that the fiscal deficit during the corresponding months of the previous fiscal was 109.3 per cent of that year's target.
Profit bookings, F&O expiry subdue equity indices; metals' stocks fall
Besides, weak global cues dented investors' sentiments while the monthly F&O expiry created some pressure on the market. Sector wise, realty and consumer durables indices rose the most whereas metals, telecom, auto, banks and IT fell the most. Consequently, S&P BSE Sensex closed at 59,126.36 points, lower by 286.91 points or 0.48 per cent from its previous close.
India's external debt rises to $571 bn
The external debt during the period under review rose to $571.3 billion from $555.2 billion reported for the quarter ended June 2020. On a sequential basis, at end-June 2021, the external debt recorded an increase of $1.6 billion over $569.7 billion reported for end-March 2021 period. "The external debt to GDP ratio declined to 20.2 per cent at end-June 2021 from 21.1 per cent at end-March 2021," the RBI said in a statement.
BYJU's Raveendran now richer than Jhunjhunwala, BharatPe's Nakrani youngest in rich list
Besides Raveendran, another tech entrepreneur Shashvat Nakrani of BharatPe saw a healthy augmentation of his wealth. According to the IIFL Wealth Hurun India Rich List 2021, the study-from-home trend which has been promoted on the back of the pandemic led Raveendran and Family's fortune to grow 19 per cent year-on-year to Rs 24,300 crore.
Vedanta Aluminium's 'Bravehearts' film salutes Covid hero
This latest film celebrates the invaluable contribution of a young professional, Jayshree Dhanasekaran, who worked to safeguard remote communities from Covid in Lanjigarh in Odisha's Kalahandi district. She rallied 80 local women in Lanjigarh village to stitch and distribute 1.4 lakh masks to safeguard the rural communities against the disease.
Edtech platform Unacademy infuses $20 mn in its job portal Relevel
Relevel was launched just four month ago by Shashank Murali, Saksham Keshri and Prakash Kumar, on the back of strong traction witnessed in user growth, hiring company partnerships, and placement rate, the company said in a statement.
Over 1K Indians with Rs 1K cr net worth: Hurun India
Accordingly, the IIFL Wealth Hurun India Rich List 2021 revealed that 1,007 individuals across 119 cities have a net worth of Rs 1,000 crore.
Don't Miss
Advertisement