BUSINESS
FPIs return, invest nearly Rs 8k cr in Indian equities last week
FPIs made a net investment of Rs 7,967 crore during the week, as per NSDL data. The surge in foreign funds have also led the Indian stock market to touch new highs. The Nifty50 on the National Stock Exchange recorded a record high of Rs 15,733.60 during the week.
Enterprise services emerge as 'new value engine' for telcos: Report
Noting that corporates are adopting cloud solutions and traditional networks are not purpose-built for it, it said that these new solutions, which run on internet WAN, are challenging the conventional hub and spoke model. "Enterprise services are emerging as new value engine for telcos amid rise in demand for services in the wake of digital transformation," it said.
Petrol prices cross Rs 95/litre in Delhi, Rs 101/litre in Mumbai
In Delhi, the fuel was sold for Rs 95.03 a litre, up from Rs 94.76 on Saturday. The price of petrol in Mumbai crossed the Rs 101-a-litre mark at Rs 101.25 per litre. In Chennai and Kolkata, the fuel was sold for Rs 96.47, Rs 95.02, respectively, higher than the levels on Saturday. Similarly, diesel prices also rose across the four cities.
Jack Dorsey's firm Square to invest $5M for solar-powered Bitcoin mining
"We hope to show that a renewable mining facility in the real world is not only possible but also prove empirically that Bitcoin accelerates the world toward a sustainable future," Blockstream Mining said in a statement on Saturday. Square tweeted that it was "committed to driving further adoption and efficiency of renewables within the Bitcoin ecosystem."
Options being explored to further sweeten BPCL privatisation deal
Sources said that the Department of Promotion of Investment and Internal Trade (DPIIT) may soon issue a clarification that the BPCL under new private-sector owners would be free to bring in foreign direct investments (FDIs) to the tune of the entire 100 per cent equity of the company without conditions.
Personal loan growth boosted credit outflow in April: HDFC Securities
Accordingly, the personal loan segment witnessed further improvement in growth at 12.6 per cent YoY, after hitting a 10-year low of 9.1 per cent YoY in January. "This was led by growth in home loans and other personal loans. Growth in credit card receivables improved to 17.1 per cent YoY," HDFC Securities said in a report.
As India's forex reserves cross $600B, liquidity gush to fuel equities
"The success of these efforts is reflected in the stability and orderliness in market conditions and in the exchange rate in spite of large global spillovers. In the process, strength is imparted to the country's balance sheet by the accumulation of reserves," RBI Governor Shaktikanta Das added. Experts say foreign exchange reserves have topped $600 billion and more than $105 billion this year alone indicating huge liquidity in the system.
India's auto demand to recover despite Covid second wave: Fitch
This should drive double-digit growth across most segments in the financial year ending March 2022 (FY22) from a low base, it said. "We expect sales volume to remain below the peak in FY19," Fitch said. "We believe less stringent curbs and lower business disruption will limit the economic fallout compared with last year.
Petrol, diesel price rise goes for a pause again
Accordingly, the pump prices of petrol and diesel remain at Rs 94.76 and Rs 85.66 per litre respectively in Delhi on Saturday. In the city of Mumbai, where petrol prices crossed the Rs 100 mark for the first time ever last Saturday, the fuel price remains at new high of Rs 100.98 per litre. Diesel price also continues to be at Rs 92.99 a litre, the highest among metros.
Expanded ECLGS to aid liquidity needs of MECs: Repor
Centre had launched the ECLGS in May 2020 to protect the MSME sector from the massive economic upheaval caused by the pandemic. Recently, the Centre expanded the scope of the scheme. "The additional funds made available for their working capital requirements along with extending the moratorium period in their previously availed ECLGS loans would lower repayment obligations in FY22," the ratings agency said in a note.
Don't Miss
Advertisement