BUSINESS
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.
Yes Bank targets startup sector, ties-up with GVFL
Accordingly, the two companies have entered into a Memorandum of Understanding (MoU) to strengthen Fintech-led innovation and support the growth of the Indian startup ecosystem. "The MoU will enable the bank to offer various products, digital banking solutions, and many other facilities that will benefit the startups associated with GVFL Limited," said Yes Bank in a statement.
Surge in commodity prices to impact India's economy: Ind-Ra
"Though a spike in global agricultural commodity prices could benefit India, it may not move the needle favourably because India, despite the world's biggest exporter of Basmati rice, exported just $6.59 billion worth of cereals and imported vegetable oil and pulses worth $9.66 billion and $1.44 billion, respectively, in FY20."
Govt allows further operational flexibility to GST filers
As per an advisory issued by the Goods and Services Tax Network (GSTN), the taxpayer must ensure that any saved but not Filed/Submitted IFF (Invoice Furnishing Facility) records for the first two months of the quarter i.e. month of Jan-2021 or Feb-2021 must be deleted using RESET button before filing GSTR-1 for Jan-Mar-2021 quarter.
Engineering exports jump 70% in March
India's total merchandise exports during this period were $34 billion as compared to $21.49 billion in March 2020 registering a jump of 58.23 per cent. The monthly growth is the best-ever performance so far. The sudden jump in outbound shipments offers hope of sustained growth in the sector in the coming months on the back of vaccine roll-out and containment of virus spread.
Healthy recovery: Large hospital players gaining market share, says HDFC Securities
Accordingly, the report cited secular growth, asset-light models, India's huge demand-supply gap, rising health insurance penetration, high out-of-pocket spending, increase in medical tourism as compelling growth prospects for the industry.
Despite economic slowdown triggered by Covid-19 lockdown, foreign investors make $15 billion through Indian investment
Compared to the statistics of Q3’2020 when the investment income of foreign investors was $12.2 billion, a 30 per cent rise was witnessed, according to the latest balance of payments data released by the Reserve Bank of India. This 30 per cent higher return from the investments of foreign investors in India is significant as it went through a turbulent time after the Covid-19 slump in the economy due to the nation-wide lockdown.
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