BUSINESS
India's July YoY exports rise by over 47%
Exports during July 2020 stood at $23.78 billion. The data by Ministry of Commerce and Industry showed that in comparison to July 2019, last month's exports rose by 34.06 per cent. "Exports during April-July 2021 were $130.56 billion, up by 73.86 per cent over the same period of 2020 ($75.10 billion) and up by 21.85 per cent over same period of 2019 ($107.15 billion)."
Mahindra Auto's July YoY PV sales up 91%
Passenger vehicle sales increased to 21,046 vehicles in July from 11,025 units sold during the corresponding period of 2020. On an overall basis, auto sales including passenger vehicles, CVs and exports for the month of July 2021 stood at 42,983 vehicles. Similarly, exports for the month of July 2021 were up 45 per cent to 2,123 vehicles from 1,467 units shipped abroad during the corresponding poeriod of 2020.
Govt gets 61% revenue boost from excise in FY21
The Centre's total revenue (tax and non tax, and after adjusting state's share in central taxes) for financial year 2020-21 stood at Rs 16,32,094, crore a marginal 3.09 fall over the non-Covid year 2019-20 when total revenue stood at Rs 16,84,059 crore. Had it not been for a substantial jump in Centre's excise duty collections, Covid-triggered economic disruptions would have put given a big hit to government revenues.
HDFC's consolidated net profit up 31%
The company's consolidated net profit rose to Rs 5,311 crore from Rs 4,059 crore in the previous year. Besides, for the quarter ended June 30, 2021, the consolidated profit after tax attributable to the corporation stood at Rs 5,041 crore as compared to Rs 3,614 crore in the previous year, representing a growth of 39 per cent. As per the statement, cumulative Covid-19 provision as at June 30, 2021 was Rs 1,017 crore.
Tata Motors to increases passenger vehicle prices by average of 0.8%
Besides, the company said it will offer protection from the price increase for 'New Forever range' of vehicles that will be retailed on or before August 31. The price protection is applicable only on vehicles which are retailed or billed on or before August 31, 2021.
Healthy data, global cues buoy indices; realty stocks' gain
Besides, IMD's latest forecasts, which showed that 2021 monsoon appears set to exceed the long period average supported the market's upmove. The equity markets had a gap up opening due to positive global cues and investors' optimism over healthy Q1FY21 results. Sector-wise, realty, oil and gas, auto and IT indices gained the most.
Vedanta Aluminium becomes India's largest green power purchaser
For its largest integrated aluminium production facility at Jharsuguda in Odisha, Vedanta procured 354 million units of solar and non-solar renewable energy, primarily from the Green Term-Ahead Market (GTAM) at IEX. IEX is a premiere energy marketplace and is the largest power exchange in the country. GTAM, introduced last year by IEX, supports buyers in procuring green energy .
SBI launches SIM Binding feature on its online banking platform
The new version of these platforms will protect customers from various digital frauds. With the SIM Binding feature, YONO and YONO Lite will work only on those devices which have SIM of mobile numbers registered with the bank. To access the new version of YONO and YONO Lite, users will have to update their mobile app and complete the one-time registration process on these apps.
Glenmark to make, market SaNOtize's nasal spray against Covid-19
According to Glenmark, NONS will be sold in India and in Asian markets including Singapore, Malaysia, Hong Kong, Taiwan, Nepal, Brunei, Cambodia, Laos, Myanmar, Sri Lanka, Timor-Leste and Vietnam. "In March 2021, SaNOtize's clinical trials showed NONS was a safe and effective antiviral treatment to prevent the transmission of Covid-19, shorten its course, and reduce the severity of symptoms," Glenmark said
SoftBank backs Policybazaar to keep market pulse racing with its IPO
Policybazaar joins a growing number of Indian startups looking to raise funds from the capital markets to support the country's booming digital economy. The IPO will be undertaken by PB Fintech Ltd, the parent of Policybazaar. The issue comprises fresh issue of Rs 3,750 crore worth of equity shares and an offer for sale of Rs 2,267.50 crore by existing shareholders and promoters.
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