BUSINESS
Another fiscal stimulus package key to rekindle animal spirits
According to the research report, there is a distinct slowdown in bank credit growth in India with the trend starting with the onset of pandemic last year continuing well into FY22. What this means is that India Inc appetite for fresh investment is still not there. And in the absence of fresh fiscal stimulus package, the investment climate would not improve.
Neglecting inflation leaves global economies sitting on a time bomb
"We expect inflationary pressures to re-emerge as the Fed continues with its policy of patience," the economists, led by David Folkerts-Landau, chief economist and global head of research, said. "It may take a year longer until 2023 but inflation will re-emerge."Unlike other economists who believe inflationary pressures will recede over time, the Deutsche Bank analysts think otherwise.
Stock Talk: Top Two and Three Wheeler Companies On BSE Today
India is the second largest producer of two-wheelers in the world next only to China. Indian 2 Wheeler Market unit sales stood at 21.2 million units in 2019 and would reach sale of 26.6 million units by 2025 displaying a reasonable CAGR of 2.6% over the forecast period (2020-2025).
Roca's acquisition of Sanit augurs well for Roca India to go behind the wall
With a turnover of 74 million euro, Sanit is ranked number three in Germany and number five in Europe in sanitaryware installation systems. "With Roca acquiring Sanit, we can get the advanced technology to make the behind the wall or concealed systems and offer the same in India," K.E. Ranganathan, Managing Director, Roca Bathroom, told IANS.
Franklin Templeton Director, wife banned from stock markets for a year
A fine of Rs 4 crore has been slapped on Vivek Kudva and Rs 3 crore on his wife. They have also been asked to return an amount of Rs 22.64 crore in an escrow account to the SEBI, which will be released to them along with the cash being disbursed to other investors. This is the amount they received on redemption before the six schemes of Franklin Templeton Mutual Fund were shut last year.
SEBI fines Franklin Templeton AMC, bars launch of new debt scheme for 2 years
In its order on Monday, the capital market regulator said that Franklin Templeton Mutual Fund has been found to have violated the provisions of the Mutual Funds Regulations and also certain SEBI circulars. "As a result of the irregularities in the running of the debt schemes inspected, loss has been caused to the investors.
Tata Digital invests $75M in fitness startup CureFit
Mukesh Bansal, CureFit Founder and CEO, will join Tata Digital as President, Tata Digital. In addition, he will continue in his leadership role at CureFit, the company said in a statement. "The CureFit partnership with its industry leading platform in fitness and wellness aligns very well with our overall healthcare proposition where fitness is increasingly becoming an integral part of a consumers' life," said N. Chandrasekaran, Chairman Tata.
Hyatt Regency Mumbai suspends operations due to lack of funds
Sunjae Sharma, Vice President & Country Head - India, Hyatt said: "As a result of no funds forthcoming from Asian Hotels (West) Ltd, the owner of Hyatt Regency Mumbai, to sustain the operations of the hotel, a decision has been taken to temporarily suspend all operations for Hyatt Regency Mumbai. The hotel will remain closed until further notice."
'Covid 2.0 brought India back to square one', Crisil cuts growth forecast
Accordingly, it has revised its projection by 150 basis points to 9.5 per cent for the 2021-22 financial year. "Back to square one. India's GDP bounced back to the pre-pandemic level by the fourth quarter of the last fiscal, after a sharp contraction in the first quarter. However, the second wave has likely erased those gains in the first quarter of this fiscal," it said.
BSE touches milestone of over 7 crore registered users
The exchange also completed the journey from 6 crore to 7 crore users in just 139 days, as compared to 241, 652 and 939 days needed for the previous milestones of 6 crore, 5 crore and 4 crore, respectively. Of the 7 crore users, 38 per cent fall in the 30-40 age bracket, followed by 24 per cent in 20-30 age bracket, and 13 per cent in the 40-50 age bracket.
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