BUSINESS
India's 2021 economic output may remain below 2019: UN Report
Titled 'Economic And Social Survey of Asia And the Pacific 2021', the report noted that India entered the pandemic with subdued GDP growth and investment. Following one of the most stringent lockdowns in the world, the economic disruptions that the country experienced mounted in the second quarter of 2020.
Cabinet likely to consider IDBI Bank privatisation next week
The LIC-owned IDBI Bank would be the first-ever public sector bank to be put on the block. People in the know said that the Centre is likely to offer its stake in the bank, along with that of the state-run insurance major. At present, the Centre holds 45.48 per cent and the Life Insurance Corporation (LIC) a 49.24 per cent stake in the bank.
India's passenger vehicle industry to post 22-25% growth in FY22: ICRA
The growth is expected to be achieved after a 2-4 per cent de-growth in FY21. As per ICRA research, the growth will be achieved on a lower base of Q1FY21, primarily due to industry slowdown and the pandemic impact. Besides, expected pick-up in economic activity improved consumer sentiments, resilient rural income sentiments, healthy crop cycles and several government initiatives will propel growth, ICRA said.
Bucking the pandemic: India on way to become world's pharma hub
The government's focus on supporting the growth of the domestic pharma sector amid the pandemic couldn't have been timed better, say sector stakeholders. Last month, the government had approved a production-linked incentive (PLI) scheme for the pharmaceutical sector, entailing an outlay of Rs 15,000 crore.
Disappointed as a minority shareholder: Cyrus Mistry on SC judgement
"As a minority shareholder of Tata Sons, I am personally disappointed by the outcome of the judgement with respect to our case," Mistry said in a statement. "Although I will no longer be able to influence the direction of governance of the Tata group directly, I hope that the issues I have raised will cause deeper reflection and influence the individuals concerned to catalyse change. I sleep with a clear conscience," he added.
Petrol prices down 19-22 paise across metros
Prices of the transportation fuel declined in the range of 22-19 paise across the four metros. In the national capital, petrol was sold for Rs 90.56 per litre, 22 paise lower than the previous level of Rs 90.78. In the other key cities of Mumbai, Chennai and Kolkata, the fuel was priced at Rs 96.98, Rs 92.58 and Rs 90.77 per litre, respectively, against the previous levels of 97.19, Rs 92.77 and Rs 90.98.
Sensex zooms 800 points; banking, metal stocks surge
Healthy buying was witnessed in the banking, metal and finance stocks. The top gainers on the Sensex were NTPC, ONGC and Hindustan Unilever, while the only losers were Mahindra & Mahindra and Maruti Suzuki India.
China's coal generation rises, India sees a decline: Study
Globally there was a record fall in coal generation in 2020, which was mirrored in India and other top coal power countries. China is now responsible for more than half (53 per cent) of the world's coal-fired electricity.
Banks to conduct special clearing of govt cheques on Mar 31
In a notification to all scheduled banks along with small finance banks and the National Payments Corporation of India, the central bank said that it is mandatory for all banks to participate in the special clearing operations on March 31, 2021.
Indian media & entertainment industry may grow by 25% in 2021: Report
Titled 'Playing by new rules', the report said that with its current trajectory, the M&E sector in India is expected to reach Rs 2.23 lakh crore ($30.6 billion) by 2023 at a CAGR of 17 per cent. Digital media and online gaming were the only segments that grew in 2020 adding an aggregate of Rs 2,600 crore. Other segments have de-grown by an aggregate of Rs 46,700 billion.
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