BUSINESS
PwC India to create 10K additional jobs in next 5 years
The fresh investment and expansion of Indian operations is part of PwC's 'The New Equation', a new approach in how the firm sees new opportunities serving the clients as they work to build trust and deliver sustained business outcomes to their stakeholders. The new business strategy will see the company create new jobs in the areas of digital, Cloud, cyber, analytics and emerging technologies.
BSE clarifies on new price-movement surveillance measures
The exchange in a circular has said that it has partially modified and superseded the notification it released on Monday. It said that the framework is applicable to BSE Exclusive securities in groups 'X, XT, Z, ZP, ZY, Y' and on companies which have market capitalisation of less than Rs 1,000 crore. The clarification also said that the securities should have a price of Rs 10 and more, as on the date of review, among others.
Asset-right strategy to drive ITC Next game-plan for hotels: Sanjiv Puri
In the medium term, the asset-right strategy is expected to double the number of properties in ITC's Hotels Business. As stated earlier, ITC will continue to examine alternate structures in this segment in line with industry recovery dynamics and opportunities for value creation. Puri said ITC has, over the years, built a footprint of iconic hospitality properties, which are globally acknowledged for service excellence and superior cuisine offerings.
That Rs 20L-Cr pandemic package expires, bequeathing @ 15% as 'loans'!
Hoping to unravel the exact benefits of the historic financial package after its validity ended in March 2021, a Pune businessman Prafful Sarda filed a query under RTI, but after over four months, got a shocking reply from the Centre. The Centre has said that in view of the unprecedented Covid-19 pandemic, "additional borrowing limit of up to 2 per cent GSDP was allowed to the state" under the 'Atmanirbhar Package' for the year 2020-2021.
ReNew Power to invest Rs 2,800 cr to acquire two assets
As part of the twin acquisition, ReNew will acquire L&T Uttaranchal Hydropower Ltd, which owns the Singoli Bhatwari Hydroelectric Project (SBHEP), from L&T Power Development Ltd, a wholly-owned subsidiary of the engineering and construction firm L&T. It will also acquire 260 MW/330 MWp of operating solar projects in Telangana, a definitive agreement has been signed.
Equity indices shed initial gains; healthcare, auto stocks plunge
Heavy selling was witnessed in healthcare and auto stocks. Around 10.10 a.m., Sensex was trading at 54,326.44, lower by 228.22 points or 0.42 per cent from its previous close of 54,554.66. It opened at 54,730.65 and has touched an intra-day high of 54,758.74 and a low of 54,303.97 points. The Nifty50 on the National Stock Exchange was trading at 16,211.85, lower by 68.25 points or 0.42 per cent from its previous close.
Fuel prices remain static amid softening of global crude
Accordingly, in the national capital, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre on Wednesday. Across the country as well, fuel prices remained unchanged providing some relief to consumers already feeling the heat of higher inflation that has raised prices of several other commodities including food items.
Zomato's losses tripled since IPO, revenue up 28%
According to the company, this is largely on account of non-cash ESOP expenses which have increased meaningfully in Q1 FY22 "due to significant ESOP grants made in the quarter pursuant to creation of a new ESOP 2021 scheme". "This divergence in reported profit/loss and Adjusted EBITDA will continue going forward," the company said in a blog post.
Govt taking steps to curb impact of e-tail majors on small traders: Goyal
"As per the directives by Prime Minister (Narendra) Modi, we have come up with the draft rules to ensure that both the consumers get goods at reasonable prices and small traders also are not impacted," he told the Lok Sabha in reply to a question, citing the draft e-commerce rules. The minister's statement comes a day after the Supreme Court declined to entertain a plea by e-commerce giants Amazon and Flipkart.
Banks will now be fined for non-availability of cash in ATMs
Starting October 1, 2021, cash-out at any ATM of more than 10 hours in a month will attract a flat penalty of Rs 10,000 per ATM. In case of White Label ATMs (WLAs), the penalty would be charged to the bank which is meeting the cash requirement of that particular WLA. The bank, may, at its discretion, recover the penalty from the WLA operator, said an RBI notification.
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