BUSINESS
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.
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.
Don't Miss
Advertisement