BUSINESS
Volunteer for inquiry: SC refuses to stop CCI probe against Amazon, Flipkart
A bench headed by Chief Justice N.V. Ramana and comprising justices Vineet Saran and Surya Kant said: "Big organizations 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.
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. Amongst sectors, banking stocks gained the most while oil and gas and realty were the main loser. The Sensex at around 12.15 p.m. traded at 54,324.06, higher by 46.34 points or 0.085 per cent from its previous close. The Nifty50 traded at 16,244.60, higher by 6.40 points or 0.039 per cent from its previous close.
Digital transactions grow 80% in last 250 days: Report
Businesses, especially from tier 2 and 3 cities, have been a major boost for digital payments exhibiting a growth of 40 per cent from the first 250 days (March 25, 2020 to November 29, 2020) and the next 250 days (November 30, 2020 to August 6, 2021), according to the report by full-stack financial solutions company Razorpay.
Sensex gains over 200 points, banking stocks rise
Healthy buying was witnessed in banking and finance stocks. Around 10.15 a.m., Sensex was trading at 54,491.21, higher by 213.49 points or 0.39 per cent from its previous close of 54,277.72 It opened at 54,385.71 and has so far touched an intra-day high of 54,584.73 and a low of 54,336.86 points. The Nifty50 on the National Stock Exchange was trading at 16,289.05, higher by 50.85 points or 0.31 per cent from its previous close.
DGCA seeks India-UK airfare details from airlines
The development comes amid a uproar among the air travellers over high airfares as India-UK flights restart on Sunday after a pause of around three and half months. The minimum one-way fare on the Delhi-London non-stop route of the economy class in August for Vistara is in the range of Rs 1,03,191-1,21,356. The British Airways fares are in the range of Rs 1,28,916 to Rs 1,47,544.
JSPL accepts revised bidding offer from Worldone for stake sale in JPL
JPL is a material subsidiary of Jindal Steel and Power Limited (JSPL). Key features of the revised offer are that Worldone will buy out all the equity shares and redeemable preference shares of JPL held by JSPL for a total consideration of around Rs 7,401 crore of which Rs 3,015 crore will be payable by cash, and the balance of around Rs 4,386 crore will be by way of assumption and takeover of liabilities and obligations of JSPL.
CIABC cautions against high bid prices in Delhi liquor vend allotment
The industry body said that the high auction prices should not pass on to consumers in the form of higher prices, or to manufacturers in the form of demands for undue discounts. "We hope that the bidders have made realistic estimates of revenues and expenses and are able to achieve that without undue stress to themselves or to other stakeholders," he added.
IDBI Bank privatisation: Deloitte, KPMG in race for transaction advisor
The other bidders in the fray are EY, ICICI Securities, JM Financial, RBSA Capital Advisors, and SBI Capital Markets. The bidders would make virtual presentations before the Department of Investment and Public Asset Management on August 10. In the Union Budget for FY22, Finance Minister Nirmala Sitharaman said privatisation of the IDBI Bank, along with two state-run banks, would be done in this financial year.
Will RBI joining NGFS help in climate finance?
Loss of infrastructure apart from loss of lives and livestock is a major setback after every such disaster. For instance, several areas of Konkan that witnessed huge floods in July were without power for many days as the entire power department infrastructure suffered massive damage.
SEBI took up 94 cases for probe in alleged violation of norms in FY21
In its annual report for 2020-21, the capital market regulator said that it completed investigation of 140 cases during the year. "During 2020-21, 94 new cases were taken up for investigation and 140 cases were completed in comparison to 161 new cases taken up and 170 cases completed in 2019-20," it said. The SEBI noted that after completion of investigation, enforcement action is initiated.
Don't Miss
Advertisement