BUSINESS
India attracts over $72 bn FDI in April-Jan FY21
Accordingly, the inflow rose to $72.12 billion during April to January, 2021, 15 per cent higher as compared to the first ten months of 2019-20, when it stood at $62.72 billion. "The trends show that the FDI equity inflow grew by 28 per cent in the first ten months of F.Y. 2020-21 ($54.18 billion) compared to the year ago period ($42.34 billion)," the Ministry of Commerce and Industry said.
Covid resurgence subdues India's manufacturing sector output: PMI
On the price front, the rate of input cost inflation was among the strongest seen over the past three years, the report said. However, selling prices increased only moderately as companies limited their adjustments to retain a competitive edge and boost sales.
FDI policy on e-Commerce should protect the interests of smaller merchants: PHDCCI
For this to happen, the chamber said that 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 controlled, directly or indirectly, by above or in which the person in the companies mentioned above have any direct or indirect equity or economic participation in any manner.
Covid resurgence dents equities; bank stocks plunge
Consequently, the S&P BSE Sensex at around 1.15 p.m. was down by 1,013.76 points, or 2.03 per cent, to 49,016.07 points from the previous close. The NSE Nifty50 on the National Stock Exchange traded at 14,581.10, down by 286.25 points, or 1.93 per cent, from its previous close.
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.
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