BUSINESS
Sensex, Nifty climb new record highs
The BSE Sensex touched a fresh high of 52,836.31 and the Nifty50 on the National Stock Exchange hit an all-time high of 15,889.60 points. Healthy buying was witnessed in banking and realty stocks. Around 9.40 a.m., Sensex was trading at 52,813.83, higher by 262.3 points or 0.50 per cent from its previous close of 52,551.53 points.
Israeli aerospace firm donates 100 oxygen concentrators to BEL
BEL Director K.M. Shivakumaran said the concentrators would be used at its nine units across the country for treating their employees infected by the virus. "The critical care equipment is needed as we are facing oxygen shortage for treating our Covid-hit employees and it can also be used for home care in emergency," he said.
Vedanta enhances Covid relief measures for employees
"Considering the fatalities caused by Covid-19 and the recent black fungus epidemic, the company is providing benefits to the family members of the deceased employees in the form of continued payments of last drawn fixed salary till their notional date of retirement," the company said.
NSDL says accounts of foreign funds holding Adani stocks not frozen: Report
Reports of a freeze on the accounts sent several Adani stocks plummeting earlier on Monday. The freeze is on accounts of the funds that hold certain other securities and it is not new, the source said. "NSDL hasn't taken any action now," the source told the global news wire. Earlier, Adani Ports had clarified that the media reports on freezing of accounts of foreign funds were published to deliberately mislead the investing community.
SEBI fines Franklin Templeton's India CEO, trustee among others
The capital market regulator on Monday imposed a penalty of Rs 3 crore on Franklin Templeton Trustee Services and a Rs 2 crore penalty on Franklin Templeton Asset Management (India) Pvt Ltd CEO Sapre. CIO Santosh Kamat, Chief Compliance Officer Saurabh Gangrade, along with fund managers Kunal Agarwal, Pallab Roy, Sachin Padwal Desai and Umesh Sharma, have also been fined.
Now retail inflation zooms to over 6% in May
According to the data furnished by the National Statistical Office (NSO), the CPI rose by 6.30 per cent last month from 4.23 per cent in April. Region wise, the CPI Urban rose by 6.04 per cent last month from 4.71 per cent in April. Similarly, the CPI Rural climbed by 6.48 per cent in May from 3.75 per cent in April.
Oil prices reach multi-year high on demand hopes
The August contract of Brent crude oil the Intercontinental Exchange (ICE) surged 0.92 per cent to $73.36 per barrel. Similarly, the July contract of WTI crude on the NYMEX was at $71.56, higher by 0.92 per cent from its previous close. Increase in vaccine coverage across the globe has raise hopes of normalising economic activities and eventual rise in oil demand.
Record High: India's WPI inflation zooms to 12.94% in May
Accordingly, WPI rose by 12.94 per cent in May from a rise of 10.49 per cent in April. This is the highest rate of WPI inflation in the current series. The previous high mark was observed in April. The monthly rate of inflation, in May 2020 stood at (-) 3.37 per cent.
Mukesh Ambani, Gautam Adani dethrone Chinese billionaires to become Asia’s richest businesspersons
Reliance Industries chairperson Mukesh Ambani’s cumulative wealth sored over $84 billion, out of which $7.62 billion have been added in 2021 so far, according to data from Bloomberg Billionaires Index. Meanwhile, Adani Group founder Gautam Adani’s wealth increased to $77 billion, out of which $43.2 billion have been added in 2021 so far.
PE exits record second best month ever at $12 billion
According to the IVCA-EY monthly PE/VC roundup, May 2021 recorded investments worth $3.6 billion across 60 deals, on the back of nine large deals worth $2.7 billion. Exits recorded $12 billion across 18 deals, with three strategic exits worth US$10.4 billion. Vivek Soni, Partner and National Leader Private Equity Services, EY said, 2021 has emerged as the second-best year for PE/VC exits after 2018 with exits worth $19.3 billion in the first five months.
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