BUSINESS
Tata Digital seeks CCI nod to acquire majority stake in BigBasket
In its submission to the anti-trust body, Tata Digital, which is a wholly-owned subsidiary of Tata Sons, said that the proposed transaction involves acquisition by of up to 64.3 per cent of the total share capital of SGS, on a fully diluted basis, through a combination of primary and secondary acquisitions, in one or more series of steps.
Gautam Adani world's biggest wealth gainer so far in 2021
The Bloomberg Billionaires Index showed that so far in 2021, Adani has added $16.2 billion, taking his total net worth to $50 billion. With this surge in his wealth, Adani is now the 26th richest person in the world.
NHSRCL-JRTC MoU on high-speed rail track design work
Prime Minister Narendra Modi and the then Japan Premier Shinzo Abe on September 14, 2017 laid the foundation stone for the ambitious Rs 1.08 lakh crore ($17 billion) project. The initial deadline to complete the project is December 2023.
JSPL's steel production grows 18% y-o-y in February 2021
The steel production in February 2021 increased by 18 per cent y-o-y to 6.53 lakh tonne as compared to 5.54 lakh tonne in 2020. The company also reported a 14 per cent y-o-y growth in shipments to 5.45 lakh tonne as compared to 4.8 lakh tonne in 2020.
Parikh family sells ZCL Chemicals to Advent for Rs 2K cr
Pursuant to the signing of definitive agreements last month, the Parikh family sold its entire 80 per cent holding to completely exit ZCL. Of the above, 26 per cent will be transferred subject to the customary closing conditions and receipt of all applicable regulatory approvals.
Financial institutions to issue record volume of sustainable bonds in 2021
The projected increase this year comes after sustainable bond issuances from these entities reached a historic high in 2020, with a pandemic-related rise in social and sustainability bond placements outweighing a moderate decline in green bond volumes.
Bank staff strike on March 15-16 against privatisation
According to AIBEA General Secretary C. H.Venkatachalam, the conciliation meeting held between the bank unions and the Union Finance Ministry on March 4, 9 and 10 failed. The unions said they would reconsider their strike call if the government agrees to reconsider their decision to privatise public sector banks.
Most economies won't return to pre-pandemic levels until 2022: Moody's
As per Moody's Investors Service report, a slow and bumpy global recovery is expected. It, however, added that despite the relative stability of its forecasts since last April, uncertainty around the macroeconomic outlook remains much higher than usual.
Gold failing as equity hedge, warns BlackRock
In a blogpost, Russ Koesterich, portfolio manager for BlackRock's Global Allocation Fund, said: "Gold's underperformance might be more tolerable for investors, except for the fact that it has also been failing as an equity hedge."
Double digit GDP growth expected in FY22: Report
A sharp recovery in GDP growth in Q3 FY 2020-21 at 0.4 per cent as compared with a contraction of 7.3 per cent in Q2 and 24.4 per cent in Q1 2020-21 (as per revised NSO estimates) is a result of impactful reforms undertaken by the government since March 2020, said Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry.
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