BUSINESS
NTPC achieves over 100 BUs of cumulative generation in FY22 so far, faster than last year
Last year the group generation had crossed 100 BU on 7 August 2020, indicating improved performance and an increase in demand for power in the current year. NTPC group companies recorded a generation of 85.8 BU in the first quarter from April to June 2021, registering an increase of 26.3% from 67.9 BU generated in the corresponding quarter last year.
Oil Cos to strengthen profits as consumers suffer from rising fuel prices
At the current historic high of fuel price levels in the country, the margin taken by the oil marketing companies (OMCs) on retail sale of petrol and diesel has touched a high of aground Rs 3 per litre. What this means is that while rising fuel prices burn a bigger hole in the consumer's pocket, the OMCs are increasing their earnings and getting a lift in the current difficult environment created by the Covid-19 pandemic.
Petrol price moves up further, diesel rate a tad slower
However, unlike uniform price movement earlier, oil marketing companies on Thursday continued with their practice adopted more than two months back to increase the price of petrol a tad higher than diesel offering some relief to the transport sector. Accordingly, while the price of petrol increased by 35 paise to Rs 101.54 a litre in Delhi, diesel prices increased by only 15 paise per litre to Rs 89.87 a litre in Delhi.
Markets mildly in green, IT stocks shine
Accordingly, both the key indices opened in the green and maintained their northward trajectory. In the domestic market, among sectors, IT stocks gained the most. Consequently, the BSE Sensex traded at 53,132.45 points, higher by 228.40 points or 0.43 per cent from its previous close. The Nifty50 on the National Stock Exchange traded at 15,914.95, higher by 61 points or 0.38 per cent from its previous close.
Serious racial inequality persists at top US firms: Report
At the largest and most powerful companies in the US, only one in every 443 Black or Hispanic workers holds a top job, while one in every 97 white workers is an executive, reflecting huge inequality in this country's corporate employment sector, a media report has revealed.
Indian publishing to be Rs 800 billion industry by 2024: EY Parthenon
Indian Publishing is the key enabler for education attainment, continuous learning, and recreation, promoter of Indian culture, values and excellence and is one of the country's largest media-related industries, larger than print media, digital media, filmed entertainment (movies), and radio and music, the report, drawn up in collaboration with the Association of Publishers in India (API), said.
Marico acquires majority stake in Ayurvedic beauty brand Apcos
Co-founded by CEO Arush Chopra, and Brand Director Megha Sabhlok, Apcos Naturals Private Ltd owns "Just Herbs, a line of bespoke and Ayurvedic results-driven skin and hair care offerings. The investment is in line with Marico's strategy to accelerate its digital transformation journey through building scalable digital-first brands, either organically or inorganically, as well as to premiumise its play in personal care.
RBI proposes changes in fund raising norms of urban co-operative banks
The central bank released a draft circular for issue and regulation of share capital and securities of primary (urban) co-operative banks. "UCBs are permitted to raise equity share capital, as hitherto, by way of issue of equity shares to persons within their area of operation enrolled as members, in accordance with the provisions of their bye-laws, and issue of additional equity shares to the existing members," it said.
Zomato IPO fully subscribed in the first day of bidding
Data available on BSE showed that the issue got subscribed 1.05 times at the end of the first day of the IPO. The issue period continues till July 16. By the end of the IPO market on Wednsday, the shares earmarked for the qualified institutional buyers (QIBs) were subscribed 0.98 times, while those of non-institutional investors was subscribed nearly 0.13 times .
RBI imposes curbs on Mastercard over data storage
The RBI said that the restrictions have been imposed as in spite of lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on storage of Payment System Data. The supervisory action has been taken in exercise of powers vested in the RBI under Section 17 of the Payment and Settlement Systems Act, 2007 (PSS Act).
Don't Miss
Advertisement