BUSINESS
Covid disruptions, gas price crash pushes PLL out of $2.5-bn deal with Tellurian
Government sources said that with low spot LNG prices and gas widely available in the market, it would make little sense to sign an agreement committing to pay on sea price of over $ 4.5 per mmBtu for 40 years for the gas. The delivered price of gas would be even higher. Thus, there was no need to pursue the deal at this juncture they said.
Vehicle retail sales plunges sequentially in May: FADA
India's overall vehicle registrations declined by 54.79 per cent on a sequential basis in May 2021.
Similarly, the data released by the Federation of Automobile Dealers Associations (FADA) showed a decline of 70.60 per cent during the month under review from the level of May 2019.
Tata Digital to acquire majority stake in 1MG
1MG operates three state-of-the-art diagnostics labs, has a supply chain covering over 20,000 pin codes across the country and through its subsidiaries is also engaged in the business of B2B distribution of medicines and other healthcare products. The investment in 1MG is in line with Tata Group's vision of creating a digital ecosystem that addresses consumer needs across categories in a unified manner.
Stock Talk: Top 5 Hospital and Healthcare Stocks On Market Today
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.
Equity indices in green; metal stocks rise
Healthy buying was seen in metal and healthcare stocks. Around 10.10 a.m., Sensex was trading at 52,094.60, higher by 152.96 points or 0.29 per cent from its previous close of 51,941.64. It opened at 52,143.90 and has so far touched an intra-day high of 52,152.55 and a low of 51,957.92 points.
Jio named India's strongest brand in Brand Finance report
Jio is also the world's strongest telecom brand, as per Brand Finance. The report noted that despite being founded only in 2016, Jio has quickly become the largest mobile network operator in India and the third-largest mobile network operator in the world, with almost 400 million subscribers.
India can save logistics fuel worth Rs 311L cr in next 3 decades: Report
Due to the rising demand for goods and services, freight transport demand is expected to grow rapidly in the future. While freight transport is essential to economic development, it is plagued by high logistics costs and contributes to rising CO2 emissions and air pollution in the cities.
SBI to withdraw fraud tag on Reliance Infratel Ltd
Reliance Projects and Property Management Services, a part of Reliance Industries Group, was the successful resolution partner in the CIRP (Corporate Insolvency Resolution Process) of Rel Infratel Ltd. It won the right to acquire 100 per cent shareholding of Rel Infratel Ltd.
Kharif paddy MSP hiked by Rs 72 per quintal, cotton by Rs 211
The MSP of paddy of both grades have been increased by Rs 72 per quintal, jowar by Rs 118, bajra by Rs 100, ragi by Rs 82, and arhar and urad by Rs 300 per quintal. The increase in MSP for kharif crops for marketing season 2021-22 is in line with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the all-India weighted average Cost of Production (CoP)
Faster vaccination, frontloading of fiscal steps key to recovery: Finance Ministry
The Department of Economic Affairs (DEA) noted that provisional GDP estimates available for January-March quarter (Q4) of FY 2020-21 confirm a V-shaped recovery in India's economic prospects in the second half of the year, after an unprecedented Covid-19 induced contraction.
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