BUSINESS
Resurgent Covid: Rising infections to subdue growth
Besides, economy watchers cite partial restrictions as well as localised lockdowns as real "demand killers".However, the shock of the initial lockdown in 2020 is not expected to be repeated this time around due to excessive liquidity, low-interest rates, combined with the experience gained by India Inc in handling the situation last year.
Rupee slips on RBI's dovish stance, 'loose' policy
Accordingly, the rupee closed at 74.55 to a US dollar after the Reserve Bank of India assured the markets of a stable and orderly evolution of the yield curve via a specific amount of open market purchases of government securities.On Wednesday, Governor Shaktikanta Das said that the RBI will conduct G-SAP 1.0 to purchase Rs one lakh crore worth of government securities.
IT spending in India to reach $93B in 2021: Gartner
"IT no longer just supports corporate operations as it traditionally has, but is fully participating in business value delivery," John-David Lovelock, Distinguished Research Vice President at Gartner, said in a statement.
Boeing forecasts demand for over 2,200 new aircraft in India by 2041
The CMO cited that Covid-19 pandemic has sharply reduced Indian air travel last year, however, the country's domestic passenger traffic is recovering more rapidly than in most other countries and regions, recently reaching 76 per cent of pre-pandemic levels.
PLI push of over Rs 6,000 cr for AC, LED light manufacturing
"It is designed to create a complete component ecosystem in India and make India an integral part of the global supply chains. The scheme is expected to attract global investments, generate large scale employment opportunities and enhance exports substantially," it said.
Cabinet approves PLI scheme for Solar PV module manufacturing
The approval was given by the Union Cabinet which met here under chairmanship of Prime Minister Narendra Modi.The new PLI scheme has been approved based on a proposal from the Ministry of New and Renewable Energy, and launched with an outlay of Rs 4,500 crore.
Stepping on the Gas: Tata Motors to foray into CNG space
Accordingly, few of the company's models will be offered with a factory fitted CNG kit. At present, Tata Motors provides an option to get the CNG kits fitted in some of its PVs at dealerships.The move assumes significance in the light of high transportation fuel prices, which have spiked recently. Also, the new option is expected to complement the company's portfolio of electric variants.
Mahindra starts end-to-end vehicle scrappage
The company has signed an MoU with Mahindra MSTC Recycling Private Ltd (MMRPL) towards offering its customers first of its kind end-to-end solution for scrapping of vehicles. At present, MMRPL is engaged in the business of acquiring used or end of life vehicles to dismantle and scrap it under the brand name of CERO.
Mercedes-Benz India YoY sales growth up 34% in Q1CY21
The company sold 3,193 units in the January-March 2021 period, hinting at a strong recovery ahead. It said the healthy performance came on the back of strong sales during January and February which remained at pre-Covid level, and also due to the recovery in March sales.
IL&FS sells its environment business, reduces debt by Rs 1,200 cr
IL&FS, as the promoter shareholder of IEISL, held 97.54 per cent of equity shares of the company. The balance 2.46 per cent was held by IL&FS Employee Welfare Trust. The entire shareholding in IEISL, held by IL&FS Group, has been transferred to EverEnviro.
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