BUSINESS
Sensex down 500 points amid global sell-off
Heavy selling was witnessed in metal, finance, banking and IT stocks. Around 10.15 a.m., Sensex was trading at 49,536.26, lower by 515.18 points or 1.03 per cent from its previous close of 50,051.44 points. It opened at 49,786.47 and has touched an intraday high of 49,854.58 and a low of 49,529.23 points.
Intel to invest $20B for 2 new chip-making factories in US
New Intel CEO Pat Gelsinger also unveiled a new branch of the company called Intel Foundry Services, to become a major provider of foundry capacity in the US and Europe to serve customers globally. During the "Intel Unleashed: Engineering the Future" webcast, Gelsinger shared his vision for "IDM 2.0," a major evolution of Intel's integrated device manufacturing (IDM) model.
NHSRCL opens technical bids for viaduct between Anand and Sabarmati
NHSRCL spokesperson Sushma Gaur said that the agency has opened technical bids for the design and construction of about 18 km of the viaduct between Anand and Sabarmati, a stretch that has 31 crossing bridges, including six steel truss bridges. The company had invited the technical bids for the project in October 2020. The process of evaluation of the bidders is underway.
New tax-free ceiling on PF for employees in firms without employer contribution
Presenting the Budget 2021-22, Finance Minister Nirmala Sitharaman had earlier proposed to restrict tax exemption for the interest income earned on the employees' contribution to various provident funds to the annual contribution of Rs 2.5 lakh.
Amazon 'threatened' US warehouse workers amid pandemic
The official NLRB documents, seen by Motherboard, revealed that the e-commerce behemoth "illegally interrogated and threatened Jonathan Bailey, a lead organiser of the Queens Amazon walkouts, who has issued a federal complaint against Amazon". The case pertains to an Amazon warehouse in Queens, New York.
Sensex shed major gains after reclaiming 50,000
It rose above the landmark level to touch an intraday high of 50,115.24 points. Around 10.40 a.m., Sensex was trading at 49,934.57, higher by 163.28 points or 0.33 per cent from its previous close of 49,771.29. It opened at 49,876.21 and has touched an intraday low of 49,779.89 points. The Nifty50 on the National Stock Exchange was trading at 14,774.10, higher by 37.70 points or 0.26 per cent from its previous close.
It is better to conduct investigation: ASG Divan on CCI probe in Amazon case
"But look at the reports. It is better to conduct an investigation and put the matter to rest rather than nipping it in the bud," Divan said. Karnataka High Court is hearing two petitions moved by Amazon and Flipkart seeking to quash the probe ordered by the Competition Commission of India (CCI) against them for alleged violations of Competition Law.
Microsoft in talks to acquire Discord for over $10B: Report
According to a GamesBeat report citing sources, Discord is "going through a sales process now that could result in a purchase of the communications and chat platform for much more than $10 billion". "One source said the company has signed an exclusive acquisition discussion with one party, meaning it is in final negotiations about a sale", the report said late on Monday.
Adani Ports to acquire 58.1% in Gangavaram port
The acquisition is valued at Rs 3,604 crore and subject to regulatory approvals. APSEZ, the transportation arm of Adani Group, had announced the acquisition of Warburg Pincus's 31.5 per cent stake in GPL on March 3 and together with this acquisition, APSEZ would have an 89.6 per cent stake in GPL.
Bullet train project: Tata Engineers Ltd-led JV lowest bidder for project management consultancy
National High-Speed Rail Corporation Limited spokesperson Sushma Gaur said, "Financial bids for the work Project Management Consultancy Services for the construction of civil works packages for MAHSR project' were opened today. This includes supervision of all 13 civil works packages including Viaducts, concrete or steel bridges, tunnels, civil work of all 12 stations, maintenance depots, and training institute building.
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