BUSINESS
Market climbs new high, Sensex hits 56,000
The key Indian equity indices has touched a new high of 56,086.50 points and the Nifty50 on the National Stock Exchange has recorded an all-time high of 16,693 points. Around 10.05 a.m., Sensex was trading at 56,036.78, higher by 244.51 points or 0.44 per cent from its previous close of 55,792.27. It opened at 56,073.31 and has so far touched an intraday low of 55,961.73 points.
No respite for petrol consumers, but diesel prices finally cut
The companies, however, kept petrol prices unchanged for the 32nd consecutive day as they wanted to wait and watch the global oil market for some more time before any revision. With the cut, diesel is now priced at Rs 89.67 while with no change petrol continues to be sold for Rs 101.84 per litre in Delhi. Across the country as well, diesel prices fell between 20-25 paise per litre while petrol remained at the same level.
SC gives last chance to Unitech home buyers seeking refunds to reconsider decision
A bench of Justices D.Y. Chandrachud and M.R. Shah told amicus curiae, advocate Pawanshree Agrawal, to open the web portal for 30 days, to enable 1,197 home buyers, who have opted for refund, one last chance to reconsider their decision. In December 2019, the portal was closed for registration.
India's 'value e-commerce' market can touch $40 bn by 2030: Report
The report noted that Indian consumers have always been value conscious, and much of the overall demand is for affordable, smaller-ticket items. From a consumer's perspective, "value" means finding affordable products while also getting acceptable quality, durability and trendiness, it said. As retail in India bounces back after the Covid onslaught, the report observed that the growing number of value-conscious online shoppers is reshaping India's e-commerce landscape.
Financial conditions supportive of economic recovery: RBI
The RBI bulletin noted that the course of the economy over the month and a half gone by has been altered by the slow retreat of the second wave of the pandemic. Aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace.
India gets 'Financial Inclusion Index'
Accordingly, the Reserve Bank of India has constructed a composite FI-Index which was announced in the 'Statement on Developmental and Regulatory Policies' in the first 'Bi-monthly Monetary Policy Statement' for FY22. On Tuesday, RBI said the FI-Index has been constructed without any 'base year' and as such it reflects cumulative efforts of all stakeholders over the years towards financial inclusion.
India notifies RoDTEP, scheme rates to cover 8,555 tariff lines
"The scheme for zero rating of exports will boost our exports and competitiveness in the global markets. The rates of RoDTEP will cover 8,555 tariff lines," an official communique said. "It may be noted that Government is leaving no stone unturned to support domestic industry and make it more competitive in the international markets," it added.
British Airways increases India-UK flight services
According to the airline, starting August 16, 2021, flight services have been increased from 10 to 20 per week. The airline said that the decision came after the UK government moved India to "amber list" and the Indian government allowed UK carriers to operate additional flights. British Airways will now operate 20 direct return flights across Delhi, Mumbai, Bengaluru and Hyderabad to London, Heathrow.
Indiabulls Real Estate, Embassy Group arms seek NCLT nod for merger
"Subsequent to receipt of applicable regulatory approvals from the Competition Commission of India (CCI), National Stock Exchange of India (NSE), BSE Limited (BSE), and the Securities and Exchange Board of India (SEBI), today the company has filed the requisite joint application with the jurisdictional bench of NCLT, for its approval to the scheme of merger," Indiabulls Real Estate said in a regulatory filing.
Petrol demand above pre-Covid levels, diesel just a fraction behind
While sales of petrol has already crossed pre-Covid levels more than a month ago, diesel sales has begun inching up and is just 8 per cent short of touching pre-Covid levels as of August 15. State-owned fuel retailers have sold 0.94 million tonnes (mt) of petrol between August 1-15, 2021. This is 9.4 per cent increase over dales seen in same period of previous year and 3.7 per cent above 0.95 mt sales in first half of August, 2019.
Don't Miss
Advertisement