BUSINESS
Google may invest 'several thousands of crores' into Airtel
Both the companies are already in advanced stage of discussions and negotiations since last year, media reports said. These reports suggest the investment from Google into Airtel can be quite large in amount. It remains to be seen what are the underlying dynamics because the Jio and Google partnership might have come with a restriction for the latter to invest in any of its rival companies, including Airtel or Vodafone Idea.
OMCs keep petrol, diesel retail prices unchanged on Saturday
Accordingly, in the national capital, petrol continues to be sold for Rs 101.49 per litre and diesel Rs 88.92 a litre. This is fourth consecutive day when fuel prices have escaped any revision. Across the country as well, fuel prices remained unchanged on Saturday, but their retail rates varied depending on the level of local taxes in each state. After falling, global crude oil prices had firmed up over the past week to cross $72 a barrel mark.
Govt inks Rs 1,350 cr deal with Mahindra Defence for ASW defence suites
"Contract for procurement of 14 integrated anti-submarine warfare defence suites at the cost of Rs 1,349.95 crore under 'Buy and Make (Indian)' category to boost 'Atmanirbhar Bharat' mission," the Ministry said in a statement. It said that the contract with an Indian firm is an important boost to 'Atmanirbhar Bharat' mission and provides a major fillip to indigenous defence industry in technology development and production. The system will enhance anti-submarine warfare capability of Indian Navy.
India's forex reserves slide by over $2.47 bn
According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves decreased to $616.895 billion from $619.365 billion reported for the week ended August 13. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the International Monetary Fund (IMF).
RBI raises incentive for banks for distribution of coins
In a circular, the RBI said that an additional incentive of Rs 10 per bag would be paid for coin distribution in rural and semi-urban areas on the submission of a auditor certificate to this effect. The distribution of coins shall also be verified by RBI Regional Offices during inspection of currency chest or incognito visit to branches among others.
SEBI bars Kotak Mahindra AMC from launching new FMP schemes for 6 months
The capital market regulator has also imposed a penalty of Rs 50 lakh on the the AMC, along with asking the company to refund a part of the investment management and advisory fees collected from the unitholders of the six FMP schemes. The refund would be equivalent to the percentage of exposure to the Zero Coupon Non-Convertible Debentures.
Pandemicproof: India's Q1FY22 GDP growth seen ranging above 14% in Q1FY22
Accordingly, the period from April-June 2021 had less stringenet lockdown norms than the same period of 2020. These partial lockdowns were mainly regional in nature. Besides, a steady growth in exports as well as robust performance of agricultural sector is expected to give a push to GDP growth.
SC to SEBI: Don't take coercive steps against NDTV promoters
At the beginning of the hearing, Solicitor General Tushar Mehta, representing SEBI, requested a bench headed by Chief Justice N.V. Ramana to adjourn the matter for next Friday and the other side has also given consent for it. Justice Ramana said: "But, do not take coercive steps" Mehta said yes, there is an order. Justice Ramana queried, "What is the stage of the appeal?"
Sensex trades flat, financial stocks fall
Selling pressure was witnessed in financial stocks, while IT stocks rose. Around 10.50 a.m., Sensex was trading at 55,997.10, higher by 48 points or 0.09 per cent from its previous close of 55,949.10. It opened at 55,862.93 and has so far touched an intraday high of 56,003.77 and a low of 55,675.87 points.
With crude fluctuating around $70 a barrel-mark, OMCs keep fuel rates static
Still in the wait and watch mode, OMCs decided to keep fuel prices static on Friday, the third consecutive day of no price revision. Accordingly, in the national capital, petrol continued to be sold for Rs 101.49 per litre and diesel Rs 88.92 a litre. Across the country as well fuel prices remained unchanged on Friday .
Advertisement