BUSINESS
Pepsico launches 'Made for India' Mountain Dew Ice
Developed to suit the Indian palate, the 'Made for India' Mountain Dew Ice marks a significant milestone in PepsiCo India's journey of innovation in the beverage category. It will be available in single/multiple serve packs across modern and traditional retail outlets as well as on leading e-commerce platforms.
Amazon moves SC against Future-Reliance Retail deal
On February 8, the Delhi High Court had stayed the implementation of status quo ordered by a single-judge bench on the Rs 24,713-crore deal between Future Retail Ltd and Reliance. The e-commerce company has challenged the stay on the implementation of the "status quo" on the deal.
Magma Fincorp soars 10% as Adar Poonawalla-led firm picks majority stake
Rising Sun Holdings Private Limited and Magma Fincorp Limited on Wednesday announced a transaction for preferential issue of equity shares of Magma Fincorp which will result in a controlling stake being taken by Rising Sun Holdings and an open offer as per Public Announcement made under SAST guidelines.
Uber's delivery biz hits $44B annual run rate in 2020
Its delivery gross bookings grew a massive 130 per cent to reach $10.05 billion in the fourth quarter — reaching $44 billion annual bookings run-rate — while mobile gross bookings were down 50 per cent to $6.79 billion.
British pound hits new high against USD since 2018
Wednesday's spike was mainly driven by the growing number of vaccinations across the UK and the weakening US dollar against the blanket of currencies, Xinhua news agency reported citing local analysts as saying.
Robust demand recovery in US, Europe boosts India's engineering exports
As per data, engineering exports for last month rose to $7,174.43 million from $6,011.43 million during the corresponding month of last fiscal. In terms of EEPC India's assessment, exporters buoyed by Production Linked Incentives (PLI) scheme are planning to add new value-added items in their external portfolio.
Base Effect: India's FY22 GDP expected to grow 10.4%, says Ind-Ra
Accordingly, the ratings agency's estimates showed that after recording negative growth during 9MFY21, GDP growth will finally turn positive at 0.3 per cent YoY in 4QFY21. "Although the recovery in FY22 on a YoY basis will be V-shaped, the size of the GDP will barely surpass the level attained in FY20 and will be 10.6 per cent lower than the trend value."
Government expects to complete Air India, BPCL sale in Q1 FY22
The privatisation of the flag carrier has already faced several hurdles with initial lack of interest for the airline and the Covid pandemic has further delayed the process. Similarly, the strategic sale of BPCL also was impacted amid the pandemic and low oil prices.
India's FY22 budget has potential to lift growth: Fitch Ratings
Accordingly, the rating agency pointed out that labour market and agricultural reforms that were legislated in September 2020 could also lift medium-term growth. However, recent adverse court rulings said Fitch Ratings have highlighted implementation challenges to these reforms besides the risk that fiscal spending could also fall short of planned levels.
Stock market declines, Sensex gives up 51,000
Around 2.55 p.m., the Sensex was at 50,979.44, lower by 349.64 points or 0.68 per cent from its previous close of 51,329.08. It opened at 51,355.89 and has so far recorded an intra-day high of 51,512.86 and a low of 50,846.22 points. The Nifty50 on the National Stock Exchange was trading at 15,022.95, lower by 86.35 points or 0.57 per cent from its previous close.
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