BUSINESS
Sensex zooms 800 points; banking, metal stocks surge
Healthy buying was witnessed in the banking, metal and finance stocks. The top gainers on the Sensex were NTPC, ONGC and Hindustan Unilever, while the only losers were Mahindra & Mahindra and Maruti Suzuki India.
China's coal generation rises, India sees a decline: Study
Globally there was a record fall in coal generation in 2020, which was mirrored in India and other top coal power countries. China is now responsible for more than half (53 per cent) of the world's coal-fired electricity.
Banks to conduct special clearing of govt cheques on Mar 31
In a notification to all scheduled banks along with small finance banks and the National Payments Corporation of India, the central bank said that it is mandatory for all banks to participate in the special clearing operations on March 31, 2021.
Indian media & entertainment industry may grow by 25% in 2021: Report
Titled 'Playing by new rules', the report said that with its current trajectory, the M&E sector in India is expected to reach Rs 2.23 lakh crore ($30.6 billion) by 2023 at a CAGR of 17 per cent. Digital media and online gaming were the only segments that grew in 2020 adding an aggregate of Rs 2,600 crore. Other segments have de-grown by an aggregate of Rs 46,700 billion.
Suez Canal blockade: Exporters' bodies to identify cargo for priority movement
This route is used for Indian exports or imports worth $ 200 billion to and from North America, South America and Europe. It includes petroleum goods, organic chemicals, iron & steel, automobile, machinery, textiles and carpets, handicrafts including furniture, leather goods among others.
US proposes action against India's equalisation levy
A statement from the office of the USTR said that in January it was found that digital service taxes (DST) adopted by Austria, India, Italy, Spain, Turkey, and the United Kingdom were subject to action under Section 301 because they discriminated against US digital companies, were inconsistent with the principles of international taxation, and burdened US companies.
SP Group's exit from Tata Sons still hangs on fire
Although the top court on Friday allowed all the appeals of the Tata Group and dismissed the appeal of the SP Group, it did not decide on the prayer of the latter for its exit from Tata Sons in lieu of "fair compensation", leaving the matter unresolved.
Air India may get new buyers in May-June
Union Minister for Civil Aviation, Hardeep Singh Puri said that financial bids for the national carrier will be submitted sometime in May. He said that the timeline for the submission of financial bids was decided in a meeting on Thursday.
Shares of Tata Group firms surge after SC verdict against Mistry
The Supreme Court on Friday accepted all contentions of the Tata Group and set aside the order of the NCLAT, which restored Cyrus Mistry as the executive chairman of the Tata conglomerate. A bench headed by Chief Justice S.A. Bobde said all questions of law are in favour of Tata Group and dismissed the appeals filed by Mistry. The top court upheld the Tata Sons decision to sack Cyrus Mistry on October 24, 2016.
Sensex up 700 points; metal, auto stocks surge
Bargain buying along with a positive trend in the global markets supported the Indian indices. Healthy buying was witnessed across the board led by metal, auto, and financial stocks. Around 1 p.m., Sensex was trading at 49,174.87, higher by 734.75 points or 1.52 per cent from its previous close of 48,440.12. It opened at 48,969.25 and has so far touched an intra-day high of 49,202.77 and a low of 48,699.91 points.
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