BUSINESS
Jet Airways shareholders reject financial results for FY20
"The business mentioned in the notice was transacted except Agenda No 1 (Ordinary Business) i.e, to receive, consider and adopt the Audited Standalone Financial Statement of the company for the FY ended March 31, 2020, together with the Reports of the Auditors thereon, due to the reason that the votes cast against the resolution No 1 were more than the votes cast in favour," it said.
Flipkart, Amazon challenge court order on CCI probe: Report
The companies have denied wrongdoing and near-immediate legal challenges from the pair stalled the investigation for more than a year until a court last week ruled it could resume, having dismissed arguments that the CCI lacked evidence. The fresh appeal from Flipkart filed on June 16, argues that the decision by the Karnataka court to allow the probe to resume was erroneous and must be put on hold, the report said.
Uttar Pradesh emerges as top investment destination
Industrialists from the country and abroad are investing heavily in infrastructure, food processing, textiles, electronic manufacturing, real estate, power and manufacturing sectors in UP. The manufacturing sector got the required boost in UP after Chief Minister Yogi Adityanath made some policy changes to create a favourable environment for investments in the state.
Fed Shock: Equities fall as FII roll-back feared
Accordingly, the fears were triggered by US Fed statement on the eventual restart of liquidity tapering programme. The development assumes significance as it can lead foreign capital away from EMs such as India. On Thursday, the Fed's statement sent shock waves in the Asian as well as domestic markets.
CII pegs India's FY22 GDP growth at 9.5%
"Ultra-high frequency indicators strongly presage growth recovery following the second wave of the pandemic," said T.V. Narendran, CEO and Managing Director of Tata Steel, who took charge as President CII on May 31, 2021. "With recent uptick in mobility indicators, traffic congestion index and daily railway passenger movement, we believe that 9.5 per cent growth rate can be achieved this year."
PLI scheme to help India become Aatmanirbhar in APIs : ICRA
High value-added pharmaceutical products are generally R&D intensive and difficult to manufacture and these include products such as complex generics, patented products, and biologics among others. Further, the GoI has also announced the promotion of the bulk drug parks scheme with a financial outlay of Rs 30 billion for three select states, which will provide infrastructure assistance to the active pharmaceutical ingredient (API) players.
'US retains tariff retaliation option if DST still in place'
"We share your goal of making discriminatory digital service taxes a thing of the past. And we've made substantial progress here," Yellen told lawmakers at a hearing held by the Senate Finance Committee on Wednesday. "We are pursuing absolutely every avenue toward a swift and comprehensive standstill and rollback of our DSTs."
US Fed keeps interest rates near zero amid inflation concerns
"Progress on vaccinations has reduced the spread of Covid-19 in the US. Amid this progress and strong policy support, indicators of economic activity and employment have strengthened," the Fed said in a statement issued on Wednesday after concluding its two-day policy meeting.. The Fed noted that the sectors most adversely affected by the pandemic "remain weak but have shown improvement".
Indian pharma industry sales to log robust growth: Fitch Ratings
The credit rating agency said pharma company sales will grow in FY22 as sales normalise in categories affected by the pandemic in the previous year. "Most Indian pharma companies reported resilient operating performance in FY21, benefiting from gradual stabilisation after 1QFY21, geographical diversification and sales of pandemic-related drugs," Fitch Ratings said.
Equity indices in red tracking Asian market
The subdued investor sentiments follow the US Federal Reserve's projection at least two interest rate hikes in 2023, a year earlier than forecasted in the March meeting. Around 10.15 a.m., Sensex was trading at 52,403.34, lower by 98.64 points or 0.19 per cent from its previous close of 52,501.98. It opened at 52,122.25 and has touched an intra-day high of 52,403.93 and a low of 52,099.72 points.
Don't Miss
Advertisement