BUSINESS
India's May YoY industrial output inches up as low base weans away
The Index of Industrial Production (IIP) for May inched up by 0.8 per cent over the same month a year ago. However, it was lower than the exponential growth of over 90 per cent seen for April. "For the month of May 2021, the 'Quick Estimates of Index of Industrial Production' (IIP) with base 2011-12 stands at 116.6," the Ministry of Statistics and Programme Implementation said.
Maruti raises prices of Swift, CNG models
The increase in ex-showroom prices (Delhi) is up to Rs 15,000. "The new prices are effective from today i.e. 12th July, 2021." "The price increase in other models is planned shortly and shall be intimated accordingly," a company statement said.
Stock Talk: Top 5 healthcare companies stocks on Sensex today
Healthcare has become one of India’s largest sector, both in terms of revenue and employment. The hospital industry in India, accounting for 80% of the total healthcare market, is witnessing a huge investor demand from both global as well as domestic investors.
India can become $15 tn economy in 2 decades: Gautam Adani
On the recent reports on accounts of three FPIs holding significant investment in Adani companies being suspended, the Chairman said that the group is "few media houses indulged in reckless and irresponsible reporting related to administrative actions of regulators". This caused unexpected fluctuations in the market prices of Adani stocks, he added.
Skill mapping, reviving MSME clusters to solve reverse migration problem
Notably, during the Covid-19 pandemic, reverse migration emerged as a major challenge for the states and the industries. After the lockdowns were announced, the nation witnessed a mass exodus of migrant workers from major cities towards their home states. The sudden rise in the number of unemployed workers returning posed several challenges for the state governments.
Essar Shipping's 'Tvisha', 'Tuhina' boosts Indo-Bangladesh rice trade
As per the agreement, Bangladesh is set to buy 1,50,000 tonnes of rice from India. It would be the first such bilateral deal in the last three years. India saw a surge in farm exports in FY21, a pandemic year. The surge was driven by record-high sales of rice-13.9 million tonnes of non-basmati and 4.6 million tonnes of basmati -- and sales of 2.08 mt of wheat, a six-year high.
Rupee strengthens to 74.44/$ amid subdued dollar index
Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors said: "Flows from Zomato IPO should start hitting the market as dollar eases after RBI strongly ensured that 74.80 is not breached on the upside. Range for the day 74.30 to 74.70. Exporters to sell near to the higher end of 74.70 while importers to buy near the lower end for near term imports."
Major headway for LIC IPO with CCEA's green signal
A top official source said that the CCEA in its meeting on July 7 approved the reworked plan for IPO finalised by the Department of Investment and Public Asset Management (DIPAM), clearing the several impediments for the country's largest IPO. "We have also fixed the way for the offer and how investors should be roped in to the insurer. The government expects to bring the IPO around Diwali this year.
Flipkart raises $3.6 bn, valuation surges to $37.6 bn
This round of funding was led by financial investors GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart, along with investments from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, and marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global.
DRI seizes 100 kg Gold Potassium Cyanide worth Rs 32 crore
The Directorate of Revenue Intelligence (DRI) has seized a consignment of 100 kg of Gold Potassium Cyanide (GPC) worth Rs 32 crore at the Air Cargo Complex here. The consignment was being exported to Dubai by a Mumbai based firm. Based on prior intelligence, the DRI seized the consignment on Sunday.
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