BUSINESS
HDFC raises fixed deposit rates by up to 25 bps
The change came into effect on March 30. The housing finance major is offering an annual interest rate of 6.2 per cent on special fixed deposits up to Rs 2 crore and maturing in 33 months.
No plans to exit India business: Franklin Templeton
The statement comes at a time when media reports suggested that Franklin Templeton had requested for talks with the Indian Ambassador to the US over the capital market regulator SEBI's probe into six shut debt schemes of the fund house in the country. The reports also said that Franklin Templeton had threatened to exit India operations if it was not given a fair hearing.
Metal, auto, tech stocks top sectoral gainers in FY21
A report by Motilal Oswal Financial Services said that the theme of FY21 was high beta, cyclicals and value. Quality and defensive themes, the flavour of the past few years, took a breather. Noting that India recorded the highest ever inflow of foreign institutional investments (FII) of $37.6 billion in the last financial year, it said that the total inflow of FIIs in FY21 was greater than the cumulative inflows in the previous six years.
India posts record high YoY merchandise exports in March
The country's merchandise exports during the month under review increased to $34 billion as compared to $21.49 billion in March 2020. "In March 2021, the value of non-petroleum exports was USD30.79 billion as compared to USD18.97 billion in March 2020, registering a positive growth of 62.3 per cent," a Ministry of Commerce and Industry statement said on the basis of preliminary data.
Equity market starts FY22 on a high despite volatility
On Thursday, the BSE Sensex closed at 50,029.83, higher by 520.68 points or 1.05 per cent from its previous close of 49,509.15. The Nifty50 closed at 14,867.35, higher by 176.65 or 1.2 per cent from its previous close. Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said that global cues were positive, led by Biden's announcement of a multi-trillion-dollar infrastructure investment plan.
Wipro buying Australian firm for $117M
The transaction is expected to be completed during the quarter ending June 30, 2021, subject to regulatory approvals, said the citybased listed firm in a regulatory filing. The buyout in cash is for 100 per cent acquisition of Ampion's shares.
In Contention: Reliance Retail extends deadline for Future deal
In financial parlance, the RRVL extended the 'long stop date' for the acquisition till September 30, 2021. Besides, the development showed Reliance Retail's confidence in clinching the deal amid the legal tussle going on with Amazon.
Mahindra & Mahindra sells 40,403 vehicles in March
On YoY basis, the sales numbers are multiple times higher than the 6,679 units sold in the pandemic-struck March last year, when India was moving towards a lockdown and Covid-19 cases surged rapidly.The statement noted: "The growth in March 2021 over March 2020 has been unprecedented and is not comparable given the onset of pandemic during mid-March last year."
Base effect: Maruti Suzuki's March sales up over 99%
Accordingly, the company on Thursday reported a growth of 99.31 per cent in its overall sales during March 2021 on a yearonyear basis. The firm sold 167,014 units of vehicles last month, against 83,792 units sold in March 2020.
Mastercard invests $100 mn in Airtel Africa's mobile money biz
AMC BV is currently the holding company for several of Airtel Africa's mobile money operations and is intended to own and operate the mobile money businesses across all of Airtel Africa's fourteen operating countries.The transaction values Airtel Africa's mobile money business at 2.65 billion on a cash and debt free basis, Airtel Africa said in a statement.
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