BUSINESS
Sensex slips over 200 points, banking stocks fall
Heavy selling pressure was witnessed in banking, finance and oil and gas stocks. Investors also took to profit booking post the recent bull run in the market, analysts said. Around 10.10 a.m., Sensex was trading at 58,053.53, lower by 243.38 points or 0.42 per cent from its previous close of 58,296.91. It opened at 58,418.69 and has so far touched an intra-day high of 58,459.70 and a low of 58,022.67 points.
Getting pregnant seems to be 'a sin' for AI women pilots
It seems so, as per a letter by T.Praveen Keerthi, General Secretary, Indian Commercial Pilots' Association (ICPA) to the airlines Chairman and Managing Director Rajiv Bansal. According to Keerthi, some long serving women pilots had availed duly approved and sanctioned maternity leave. The said pilots were eligible to be given service benefits.
Hyundai to up EV ratio to 80% by 2040
All-electric and hydrogen fuel-cell electric vehicles currently account for a mere 1.5 per cent of Hyundai's global sales and it initially aims to raise the ratio to 30 per cent by 2030, reports Yonhap News Agency. To achieve the aim, Hyundai said it will gradually replace its product lineup sold in Europe with hydrogen or battery-powered models by 2035 and in other major markets by 2040.
Retail trade, services in EU severely hit by Covid
The pandemic caught most people unprepared and in an attempt to fight the pandemic, the member states of the EU have implemented a variety of measures, including restrictions on non-essential travel, Xinhua news agency reported. Non-essential production was stopped, and several countries imposed regional or even national lockdown measures, which further stifled economic activities.
Unnecessary coal plants could waste India's 247,421 cr: Report
These surplus 'zombie' plants, assets that would be neither dead nor alive, would require Rs 247,421 crore ($33 billion) of investment, yet are projected to lie idle or operate at uneconomic capacity factors due to surplus generation capacity in the system. According to the analysis by Ember and Climate Risk Horizons, the private sector's unnecessary investment on 'zombie' coal plants will be Rs 62,912 crore.
Over 16% increase in paddy procurement over previous season: Govt
This purchase, as on September 5, has benefitted about 130.47 lakh farmers from the ongoing KMS procurement operations with MSP value of Rs 1,67,960.77 crore. Paddy procurement has reached at an all-time high level, surpassing previous high of 773.45 LMT in KMS 2019-20, the Consumer Affairs, Food & Public Distribution Ministry statement said.
Vodafone Idea's financial stress to impact tower industry
An ICRA report said that Vodafone Idea Ltd (VIL) has been under financial stress as reflected by mounting losses and burgeoning debt levels, which is likely to impact its financial lenders as well as the government, apart from having a bearing on its employees, its subscribers and associated industries, most prominently towers.
SC asks NCLAT to hear 63 moons plea against DHFL sale within two months
63 moons, which holds non-convertible debentures (NCDs) worth over Rs 200 crore issued by DHFL, had challenged the NCLAT's judgment on the grounds that the current resolution plan was "disappointing" for NCD holders. 63 moons said the apex court has directed the NCLAT to hear its appeal against Piramal Group's resolution plan within a period of two months.
Integration of Bharti Axa General with ICICI Lombard gains speed
In August 2020, ICICI Lombard announced the acquisition of the general insurance business of Bharti Axa General by way of a demerger.He said the action plans that were drawn during the past one year on integration will be put into action. From September 8 onwards, ICICI Lombard General will be in-charge of Bharti Axa General's businesss, Balachandran said.
Centre to regulate coal supplies to non-conforming state utilities
As per the decisions taken post a review meeting taken by Power Secretary Alok Kumar to assess the availability of coal for thermal power plants, captive coal mine companies have been given a notice of one week to increase their production to more than 85 per cent of their targets. In case this is not achieved, the Centre would regulate supply of linkage coal to such states/gencos.
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