BUSINESS
Adani Group likely to take over Guwahati airport in October
An Airport Authority of India (AAI) official said that a nine-member team of the Adani Airport Holding Ltd (AAHL) led by Chief Airport Officer Utpal Baruah, an aviation industry expert who also hails from Assam, on Monday formally started its "Observation Period" and is likely to take over charge in October.
Amazon, Catamaran to discontinue joint venture in May 2022
The joint venture has been running successfully for the past seven years and is coming up for renewal on May 19, 2022. "The two partners today announced they have mutually decided to not continue their joint venture beyond the end of its current term," said a joint statement. The joint venture has enabled over 3,00,000 sellers and entrepreneurs to go online and enabled 4 million merchants with digital payment capabilities
IPO rush to continue this week, 4 cos aim to raise Rs 14K cr
The offers of CarTrade and Nuvoco Vistas opened on Monday and will close on Wednesday. On the first day of the CarTrade IPO, 41 per cent shares on offer were subscribed. Around 53,00,406 shares were subscribed out of the 1,29,72,552 on offer. Retail investors have subscribed 51,87,906 shares (80 per cent), out of the 64,86,276 shares earmarked for them, at the end of day 1, showed BSE data.
Vehicle retail sales rises YoY, sequentially in July: FADA
The data released by the Federation of Automobile Dealers Associations (FADA) showed a rise of 34.12 per cent during the month under review from the level of July 2020. Vehicle retail sales rose to 15,56,777 units last month from 11,60,721 units sold during July 2020. On sequential basis, the FADA had reported an overall vehicle retail sales figure of 12,17,151 units for June 2021.
Stock specific action lift equity indices, banking stocks gain
However, gains were capped as Asian shares fell, while rising Delta virus cases made investors' nervous. Initially, indices opened mildly higher but soon gave up their morning gains. Nevertheless, they formed an intra-day low soon after but made a decent recovery. Amongst sectors, banking and IT stocks gained the most, while oil and gas, metals, capital goods, and telecom sectors fell the most.
Equity MFs' net inflows at over Rs 22K cr in July: AMFI
As per the data furnished by the Association of Mutual Funds in India (AMFI) on Monday, the net inflows stood at Rs 22,583.52 crore. In June, the net inflows had stood over Rs 5,980 crore, while in May, the total sum was over Rs 10,000 crore. In April, equity-linked mutual fund schemes saw a net inflow at Rs 3,437 crore. Besides, the contributions through systematic investment rose on a sequential basis last month.
'Inquiry has to be conducted': SC junks Flipkart, Amazon plea against CCI probe
A bench headed by Chief Justice N.V. Ramana and comprising justices Vineet Saran and Surya Kant said: "Big organisations like you (Flipkart and Amazon) should volunteer for inquiry... Inquiry has to be conducted." The bench declined to interfere with the orders of the Karnataka High Court, which refused to interfere with the preliminary enquiry ordered by the CCI into their alleged anti-competitive practices.
Retail holding at all time high while MFs reduce stake
In Rs value terms too, retail holding in companies listed on NSE reached an all-time high of Rs 16.18 lakh crore from Rs 13.94 lakh crore on March 31, 2021, an increase of 16 per cent (Sensex and Nifty rose by 6.01 and 7.02 per cent respectively during this period). According to Pranav Haldea, Managing Director, PRIME Database Group, a buoyant secondary market and a flurry of new listings have helped in channelising retail savings into the capital market.
Oil price fall provides no relief to fuel consumers, OMCs deny upto Rs 2 per litre price cut for petrol and diesel
Even though, global crude oil prices have fallen in the last couple of weeks to reach below $ 70 a barrel from a high of $ 77 reached early last month, OMCs have not revised petrol and diesel rates downwards but have kept its prices static for the past 23 days. Even on Monday petrol and diesel prices remained at the same level (Rs 101.84 for petrol and Rs 89.87 for diesel in Delhi) that was reached on July 17.
Residential sales rise 75% in first half of 2021: CBRE
Pune led sales activity with an approximately 26 per cent share, followed by Mumbai (19 per cent). It was closely followed by Hyderabad and Delhi-NCR with 18 per cent and 17 per cent shares respectively. On a quarter-on-quarter basis housing sales grew by 73 per cent on a q-o-q basis across India's top seven cities in Q42020, on the back of measured policies announced by the central and state governments.
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