BUSINESS
Wholesale growth expected to continue for tractors, PVs, 2Ws: Emkay
PV industry volumes are likely to remain in the positive territory, with industry growth at over 15 per cent. According to the Emkay update, retails have declined in the North region due to the weakness in entry-level segment and lower marriage season demand. Executive and premium motorcycles are doing better than entry-level motorcycles.
'Improved economic environment to boost FY21 credit growth'
India Ratings and Research's February 2021 edition of credit market tracker showed an upgrade to its FY21 credit growth estimates to 6.9 per cent from 1.8 per cent. Accordingly, the agency said that amid the pandemic, the credit offtake in the banking system has remained muted, which led to lesser issuances of certificates of deposits (CDs).
Gold Bond Scheme20-21 to be issued at Rs 4,662/gm
The Settlement date under the Series XII scheme had been fixed for March 9. The Government in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode.
India's eight core industries' production remains flat in January 2021
The Index of Eight Core Industries' reading for last month showed a rise of just 0.1 per cent in output from an expansion of 2.2 per cent in the same month last year. On a sequential basis, the output of eight major industries had expanded by 0.2 per cent in December 2020.
Fuel prices resurge after 3-day break
Oil marketing companies raised the pump price of petrol and diesel by 24 paise and 15 paise per litre on Saturday. With this, petrol is now priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the capital. Across the country as well the petrol and diesel prices increased between 20-30 paise per litre depending on the level of local duty at the state level.
India exits technical recession, Q3FY21 GDP grows by 0.4%
India had entered technical recession after its GDP consistently remained in negative output territory for two subsequent quarters. Notably, the Q2FY21 GDP on a year-on-year basis had contracted by 7.3 per cent from (-) 24.4 per cent in the preceding quarter.
UK court came down heavily on ex-Mumbai HC judge in Nirav Modi case
In the 83-page judgement, the Westminster Magistrates' Court Judge said that the extradition request for Nirav Modi is a high-profile case in India and "I have no doubt that Justice Thipsay as a former High Court Judge has overseen many high profile cases in his time".
Market extends losses, Sensex down 1,500 points
Globally stocks markets have declined due to rising bond yields. The across-the-board selloff was led by banking and finance stocks. The top stocks on the Sensex were ICICI Bank, Axis Bank and IndusInd Bank, while the major losers were Dr Reddy's Laboratories, Sun Pharmaceutical Industries.
Twitter aims to hit $7.5B in annual revenue in 2023: Jack Dorsey
Addressing the virtual analyst day, Dorsey said that the company plans to double its development velocity by the end of 2023, resulting in doubling the number of features per employee that directly drive either mDAU or revenue.
India's consumption, investment demand recovers: Moody's, ICRA
A joint statement from the two, said prevailing low interest rates and the government's reforms to boost domestic manufacturing will support corporates' credit profiles. Moody's expects the Indian government will drive infrastructure investment for the next 1-2 years, which will help address infrastructure constraints and support future private investment.
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