BUSINESS
FDI policy on e-commerce should protect the interests of 8 cr small merchants
Therefore, the definition of group companies should be extended to include companies operating the marketplace platform itself, its group companies, its affiliates companies, its associated enterprises, its related parties, and any other person(s) controlled, directly or indirectly, by above or in which the person(s) in the companies mentioned above have any direct or indirect equity or economic participation in any manner.
Sensex tanks 1,300 points; banking, auto stocks plunge
The night curfew and weekend lockdown announced in Maharashtra amid the rising number of Covid cases has weighed on the investor sentiments, analysts said. Around 10.15 a.m., Sensex was trading at 48,709.84, lower by 1,319.99 points or 2.64 per cent from its previous close.
LG Electronics exits from loss-making mobile biz
The South Korean tech powerhouse said in a regulatory filing that its mobile communications (MC) unit will no longer produce and sell handsets after July 31, citing its long slump and fierce competition in the industry. The decision came two months after the company said its MC division is open to "all possibilities" for its future operations.
Unemployment remains top worry for urban Indians: Report
Covid-19, which is India's second-biggest worry, after a major reduction last month in its intensity, has climbed up by 4 per cent in March 2021. The top five worries of urban Indians were unemployment or joblessness, Covid-19, financial and political corruption, while crime and violence and poverty and social inequality are tied at the fourth spot, and education.
Adani Ports acquire 25% of Vishwasamudra Holdings' stake in Krishnapatnam Port
With this, APSEZ will increase its stake from 75 per cent to 100 per cent in Krishnapatnam Port, the country's second-largest private-sector port. The acquisition will be completed by buying 25 per cent from Vishwa Samudra Holdings. Together with the 75 per cent ownership acquired in October 2020, the acquisition implies an enterprise value of Rs 13,675 crore implying an EV/FY21 EBITDA multiple of 10.3x.
Global trade frictions severe in 2020: Report
The global economic and trade measures index, introduced by the China Council for the Promotion of International Trade, was on the rise in 2020, said the report released by the council's legal advisory committee on economic and trade frictions, the Xinhua news agency reported.
IL&FS receives Rs 693 cr settlement claim for 2 road projects
In a statement, IL&FS said that its subsidiary IL&FS Transportation Networks India Limited (ITNL), on March 31, 2021, duly received settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway Limited (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway Limited (CNTL) from NHAI.
Metal stocks boom may continue after dream run in FY21
The metals and mining sector also saw a sharp increase in commodity prices and steel was one of the best-performing commodities in the just-ended FY21. The S&P BSE Metal index has surged 176 per cent in the past one year.
Government sanctions over Rs 25K crores under 'Stand-Up India'
A total of Rs 3,335.87 crore has been sanctioned for 16,258 borrowers from the Scheduled Castes category under the scheme, followed by Rs 1,049.72 crore for the 4,970 borrowers in the Scheduled Tribes category, said an official statement. Similarly, the government has sanctioned an amount of Rs 21,200.77 crore for 93,094 women borrowers under the scheme.
Vax drive, earnings growth to determine market's FY22 trajectory: Report
"As we step into FY22, two things will drive the markets from hereon, in our view. Given the recent resurgence in Covid-19 cases, the pace of vaccination will assume crucial importance," MOFSL said in a report.
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