BUSINESS
OYO to file for $1 bn IPO: Report
According to TechCrunch, the seven-year-old startup, founded by 27-year-old Ritesh Agarwal, is planning to raise as much as $1.2 billion in the IPO. The aforementioned terms could slightly change in the next few days and the startup may take an additional few days to file the paperwork, citing sources, the report said.
Global cues lift equity indices; realty stocks rally
Accordingly, both key indices - S&P BSE Sensex and NSE Nifty50 - rose after the US Federal Reserve kept interest rates unchanged. Initially, the Indian equity benchmarks indices made gap-up openings with volumes in the markets being above average. Sector wise, all indices witnessed buying, led by Realty, PSU, and Metal stocks.
Over 3 Cr taxpayers successfully complete transactions: Infosys
"Infosys is committed to making rapid progress in further streamlining end-user experience," said the company in a press note. Over the last few weeks, the portal has seen steady increase in the usage with taxpayers' concerns being progressively addressed. Thus far over three crore taxpayers have logged into the portal and successfully completed various transactions, the note said.
Healthy Prospects: IndiGo bullish on festive season, sees demand growth
Besides, the airline believes that economic rebound, weaning impact of Covid 2.0 and accelerated vaccination drive will further complement the traffic growth. According to Ronojoy Dutta, Wholetime Director and CEO of India's largest airline in terms of market share said: "My hopes for the festive season are very bullish and I think we will have a very good holiday season."
Petrol, diesel prices remain steady, provide relief to consumers
The oil marketing companies (OMCs) on Thursday kept pump prices of auto fuels petrol and diesel unchanged, the 18th consecutive day of no revision, as they preferred to maintain their watch prices on global oil situation before making any revision in prices.
Markets open on a positive note
The Sensex of the BSE opened at 59,358.18 points and touched a high of 59,388.42 points. The Sensex touched a low of 59,243.15 points. On Wednesday, the Sensex closed at 58,927.33 points. The Sensex is trading at 59,386.49 points up by 459.16 points or 0.78 per cent.
Adani completes acquisition of Gangavaram Port
The boards of APSEZ and GPL have also approved the merger of GPL with APSEZ, taking into consideration GPL's valuation of Rs 120 per share and fair value of APSEZ at Rs 754.8 per share, resulting in a swap ratio of 159 shares in APSEZ for 1,000 shares in GPL for the 58.1 per cent stake held by DVS Raju and Family in GPL.
Ease of Doing Business: India launches single window clearance portal
Union Commerce and Industry Minister Piyush Goyal said that single window portal will become a one stop shop for investors for approvals and clearances. According to the Commerce and Industry Ministry, the portal hosts approvals across 18 Central departments and nine states, while 14 more Central departments and five states will be added by December.
FDI inflows up 62% during first four months of FY22
India attracted a total FDI inflow of $27.37 billion, against $16.92 billion during the corresponding period of FY21. "FDI equity inflow grew by 112 per cent in the first four months of FY 2021-22 ($20.42 billion) compared to the year ago period ($9.61 billion)," said the Commerce & Industry Ministry statement. According to the ministry, automobile industry has emerged as the top sector during the period under review to attract the largest total FDI Eeuity inflows followed by computer software and hardware, and services sector, respectively.
Need to continue labour, product markets reforms for growth: RBI Guv
In his address at the 48th National Management Convention of the All India Management Association (AIMA), he cited the need to deal with pandemic's legacy and create conditions for future growth. "Limiting the damage that the crisis inflicted was just the first step; our endeavour should be to ensure durable and sustainable growth in the post-pandemic future.
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