BUSINESS
Tata expands digital footprint with majority stake in health platform 1MG
The investment in 1MG is in line with the Tata Group's vision of creating a digital ecosystem that addresses consumer needs across categories in a unified manner, a company statement said. E-pharmacy, e-diagnostics, and teleconsultation are critical segments in the present ecosystem and have been among the fastest-growing segments in this space, as it enables access to healthcare during the pandemic, it said.
Elon Musk's Starlink plans to put faster Wi-Fi on commercial airplanes
Since 2018, SpaceX has launched nearly 1,800 Starlink satellites out of the roughly 4,400 it needs to provide global coverage of broadband internet, primarily for rural homes where fibre connections aren't available. Starlink is now being expanded to airlines, as SpaceX races to open the broadband network commercially later this year, the Verge reported.
Yes Bank board okays raising up to Rs 10K cr via debt securities
"The Board of Directors of the Bank in its meeting held on June 10, 2021, have, inter alia, considered and approved seeking shareholders' approval for borrowing/raising funds in Indian/foreign currency up to an amount of Rs 10,000 crore by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTN) etc," it said.
Indian labour market now in worst condition since Apr-May 2020: CMIE
Data published by CMIE showed that the unemployment rate, which reached 11.9 per cent in May 2021, continued to rise during early June. The 30-day moving average unemployment rate as of June 6, 2021, was 13 per cent.
India's agriculture exports jump to $ 41 billion despite pandemic disruptions
Commerce secretary Anup Wadhawan said that excellent growth of Agri exports in FY21 has come after it remained stagnant for the past three years (USD 38.43 billion in 2017-18, USD 38.74 billion in 2018-19 and USD 35.16 billion 2019-20).
95% realtors fear project delays due to 2nd Covid wave, seek urgent relief
Over 95 per cent developers in the country expect delays in project completion due to the second wave of Covid-19, according to a survey by the Confederation of Real Estate Developers' Associations of India (CREDAI).
Sensex, Nifty end near record closing highs
Healthy buying was witnessed in metal, finance and healthcare stocks. The BSE Sensex closed at 52,300.47, higher by 358.83 points, or 0.69 per cent, from its previous close of 51,941.64. It had opened at 52,143.90 and touched an intra-day high of 52,346.35 and a low of 51,957.92 points.
Phased unlock: FY22 GDP growth projected at 8.5%: ICRA
India's GDP growth has been projected at 8.5 per cent in FY22, said ratings agency ICRA.
The year-on-year (YoY) growth of GDP and gross value added (GVA) at basic prices (at constant 2011-12 prices) is expected to reach 8.5 per cent and 7.3 per cent respectively, in FY2022.
Hisense to set up TV manufacturing unit in India
The company said that it will set up a local manufacturing plant with a capacity to produce two million TVs within the next two years. "Hisense entered the Indian market last year and got a phenomenal response from the consumers. To meet the growing demand for our television range we are ramping up our local manufacturing capabilities and will be setting up a TV manufacturing plant of 2 million capacity within the next two years," said Rishi Tandon.
Indian online fashion industry grows 51% in FY21: Report
Tier 3 cities and beyond reported the highest order volume growth of 192 per cent, while kids' wear has been the biggest gainer with over 200 per cent order volume growth online, according to the 'Fashion e-commerce Report' by Unicommerce. The rising adoption of D2C (direct-to-consumer) among fashion brands has helped them build a strong connection with the consumer leading to higher growth.
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