BUSINESS
India's WPI inflation rises to 7.39% in March
"The annual rate of inflation stood at 7.39 per cent (provisional) for the month of March 2021 over March 2020. However, the month-on-month (March 2021 over February 2021) rate of inflation stood at 1.57 per cent," the Ministry of Commerce and Industry said in a statement on WPI.
IL&FS addresses Rs 43,000 cr debt, raises aggregate debt recovery target
The previous estimate of overall debt recovery was Rs 56,000 crore. The increased estimate represents a resolution of nearly 62 per cent of overall fund based and non-fund based group debt of around Rs 99,000 crore, as of October 2018, Chairman of IL&FS, Uday Kotak told the media on Thursday.
Equity indices pare initial gains to turn red
Around 10.19 a.m., Sensex was trading at 48,290.94, lower by 253.12 points or 0.52 per cent from its previous close of 48,544.06. It opened at 48,512.77 and has so far touched an intraday high of 48,686.17 and a low of 48,268.64 points. The Nifty50 on the National Stock Exchange was trading at 14,436.20, lower by 68.60 points or 0.47 per cent from its previous close.
Private equity inflow in India realty up 19% in FY21
During the previous financial year, PE investments into the realty sector stood at $5.8 billion. Indian real estate recorded its highest-ever private equity investments since in the last fiscal, since FY16, noted the Anarock Capital's 'Flux - FY20-21 Market Monitor for Capital Flows'.
IMF chief 'confident' to distribute new SDR by August
"It is a remarkable demonstration of multilateralism" that the IMF membership has agreed to support a new SDR allocation of $650 billion, the largest in the history of the IMF, Georgieva said in an exclusive interview with Xinhua news agency. "In comparison, in the midst of the global financial crisis, the membership allocated 250 billion dollars to help countries deal with the consequences of this crisis," she said.
Asset quality headwinds to impact NBFCs performance in FY22: ICRA
These headwinds are also likely to affect NBFCs performance in FY22, following the resurgence of the Covid-19 pandemic. "Asset quality pressures because of the Covid-19-related business disruptions unfolded partly in Q3 FY2021 with the 90+ days past due moving up following the closure of the moratorium window in August 2020.
Infosys to buy back shares worth Rs 9,200 crore
"As part of capital allocation, the board of directors approved buyback of shares equity shares from the open market route through the stock exchanges amounting to Rs 9,200 crore, excluding tax," said the city-based IT major in a statement here. The buyback will be subject to the approval of the company's shareholders in the annual general meeting (AGM) of the company in June.
Bharti Airtel restructures its corporate structure
The new structure envisages Airtel Digital Ltd folding into a listed entity, Bharti Airtel. This will now house all of the digital assets spanning Wynk Music, Airtel X stream, Airtel Thanks, Mitra Payments platform used by a million retailers, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services, the company said in a statement.
Faceless assessment scheme may revert to physical mode for large taxpayers
Sources in the Central Board of Direct Taxes (CBDT) said that the trend is disturbing and this may push the I-T Department to switch to a physical model of operations that would involve the issue of exparte orders against unresponsive taxpayers who may also face raids or physical scrutiny of documents by taxmen.
Land value within 500 metre of upcoming metro corridors to rise 10-15%
Noting that India was introduced to the metro rail as an alternative mode of transport three decades, the report said: "Since then, the advantages of the metro rail system have increased many-folds. Primarily it has been the enhanced connectivity to the suburbs of the city, thus enabling distribution of the city population to a larger extent of land resulting to congestion reduction in the city."
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