BUSINESS
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.
Strong GDP growth in FY22 to drive logistics demand: Ind-Ra
According to the agency, strong-to-moderate recovery is already being witnessed across various logistics sub-sectors. Besides, commissioning of the Dedicated Freight Corridor could boost volumes and efficiencies across ports as well as inland container depot/container freight station players.
Microsoft announces to reopen headquarters from March 29
The company said that while stages 4 and 5 offer limited or augmented options for workers who choose to be on-site, employees are encouraged to work remotely while their site remains in stages 1-5 and should not feel they need to return.
Manufacturing gaining lost momentum in Q-4: FICCI survey
As per the survey, the overall capacity utilization in manufacturing has witnessed a rise to 74 per cent as compared to 65 per cent in previous quarter. The future investment outlook, however, looks slightly better as 30 per cent respondents reported plans for capacity additions for the next six months as compared to 18 per cent in the previous quarter.
Curtailed banking services during March 27-April 4
All banks will stay closed for three consecutive days from March 27 (4th Saturday), March 28 (Sunday) and March 29 (Holi). Further, customer-facing services at bank branches will remain closed on March 31 and April 1 as banks close their books for FY21. April 2 would be a holiday on account of Good Friday and being a Sunday, services will be shut on April 4.
Piramal Capital & Housing Finance raises Rs 4,050 cr via NCDs
Rajesh Laddha, Executive Director, Piramal Enterprises Ltd said: "Since the beginning of FY 2020, we have significantly transformed the liabilities profile towards more stable, long-term sources of funds. The company has raised over Rs 50,000 crore since April, 2019, through multiple long-term borrowings and equity transactions, thereby materially strengthening the balance sheet."
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