BUSINESS
50% of BSES' power portfolio to turn green by 2024
Green portfolio of BSES, comprising pure play renewable energy and hydro power, will make it one of the greenest discoms in the country. Strengthening its green drive, recently, Reliance Infrastructure-led BSES signed agreements with SECI to procure 510 MW of solar and hybrid power at less than Rs 2.50/unit. In fact, BSES became the first discom in Delhi and among only a handful in the country to procure hybrid power.
Capacity, fare regulations slowing India's aviation sector recovery: IATA
Notably, the centre's regulations have been justified as to protect the domestic aviation sector from economic turmoil unleashed by Covid-19. However, IATA's Director General Willie Walsh during a media interaction said that the regulations are distorting the market rather than supporting growth of the market.
Adani Ports & SEZ 1st Indian infra firm to raise 20-year's money from markets
The issuances were closed on July 26, 2021 and was oversubscribed by over three times. APSEZ has continued to receive exceedingly strong participation (for its successive bond offerings) from its high-quality real money investors across all geographies. This issuance establishes the Adani Group as an issuer with the ability to access international capital markets across all market cycles.
FMCG revenue growth seen doubling to 10-12% this fiscal: Crisil
Accordingly, the trend is expected to be driven by price hikes effected across product categories to offset the impact of raw material price increase and a raft of other favourable factors. Besides, the agency said that operating margin, on the other hand, will be restored to the normal level of 19-20 per cent with a moderation of 80-100 basis points (bps) this fiscal due to increase in advertising expense and rise in raw material prices.
Fuel prices could have reduced by Rs 1 but for OMCs' reluctance
In the block of the last 30 days, benchmark Brent crude has remained on an average over $74 a barrel in a fortnight while the average has fallen to about $72 a barrel in the immediately preceding fortnight. The price movement has been similar for Indian basket of crude that is benchmark used by Indian oil companies and global prices of products.
No revision in petrol, diesel prices for 10 consecutive days
However, they stopped short of reducing the retail price of petrol and diesel as more time will be required to study oil price movement before any downward revision. Already, crude has firmed a bit for last few days and this could prevent price cut by OMCs. With no change in prices on Tuesday, in the national capital, petrol continues to be sold for Rs 101.84 per litre.
Equity indices in green, metal stocks surge
Healthy buying was witnessed in metal stocks. Around 10.25 a.m., Sensex was trading at 52,977.55, higher by 125.28 points or 0.24 per cent from its previous close of 52,852.27. It opened at 52,995.72 and has so far touched an intra-day high of 53,024.70 and a low of 52,880.58 points. The Nifty50 on the National Stock Exchange was trading at 15,870.55, higher by 46.10 points or 0.29 per cent from its previous close.
Moj, ShareChat raise additional $145 mn to scale AI platform
The latest Series F funding, led by Singapore state investor Temasek, Moore Strategic Ventures (MSV) and Mirae-Naver Asia Growth Fund, is an additional investment beyond the $502 million raised in April this year. The company said in a statement that the new round will be utilised for accelerating user growth, augmenting a robust creator economy, and invigorating their efforts towards building a world-class AI organisation.
Weak global cues subdue equities, Sensex down over 100 pts
Both indices failed to hold on to their intra-day gains and broke a two-day winning streak. Besides, Q1FY22 results from frontline stocks failed to excite investors at a time when the other Asian markets reeled under regulatory pressures and rising Covid cases. The S&P BSE Sensex closed at 52,852.27, lower by 123.53 points, or 0.23 per cent, from its previous close.
Infosys paid Rs 164.5 cr for new IT e-filing portal: Govt
In a written reply in the Lok Sabha, Minister of State for Finance, Pankaj Chaudhary, said that the government has launched a new income tax e-filing portal as part of the Integrated E-filing and Centralised Processing Centre 2.0 Project. He said that the Union Cabinet gave its approval on January 16, 2019 for this project at an outlay of Rs 4,241.97 crore for a total period of 8.5 years.
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