BUSINESS
Gail to be excluded from Nifty50
The Index Maintenance Sub-Committee (IMSC) of NSE Indices decided to make the changes, as part of its periodic review. In Gail's place, Tata Consumer Products will be included in the index from March 31, 2021. Besides, the changes will be effected in Nifty Next50, Nifty500 amongst others.
Foodgrain production rose over 18% in past 5 years: Tomar
Expressing satisfaction on the rising production of pulses in the country, Tomar stressed the need of more focus to increase their production or self-reliance. He urged the states to ensure farmers get Minimum Support Price for their crops.
India's economic recovery in consolidation phase: ICRA
The agency said after the broad-based improvement seen in December 2020, the year-on-year (YoY) performance of a majority of the early available economic indicators recorded a loss of momentum in January 2021, relative to the previous month.
Pandemic, investment curbs help India reduce trade deficit with China
As per official data, India's trade deficit with China declined by 19.39 per cent from $56.95 billion in 2019 to $45.91 billion in 2020. The decline had largely been supported by all-time high levels of exports of goods and services by India.
NCLT rejects Jet employees' plea for copy of Jalan's resolution plan
A top corporate tribunal has rejected the plea of Jet Airways employees seeking a copy of the resolution plan of the successful consortium of Murari Lal Jalan and Kalrock Capital. The consortium's resolution plan has been accepted to restart the now defunct airline.
Zomato raises Rs 1,800cr from five investors
The five investors who have pumped money in the new round are Kora (which contributed $115 million), Fidelity ($55 million), Tiger Global ($50 million), Bow Wave ($20 million) and Dragoneer ($10 million). The new funding for Zomato comes just a couple of months after closing a $660 million financing round.
Sensex up 400 points; oil & gas, metal stocks rise
Healthy buying was witnessed in oil and gas, metal and capital goods stocks. The top gainers on the Sensex were ONGC, L&T and SBI while the major losers were Asian Paints, Kotak Mahindra Bank and Maruti Suzuki India.
India's office space grows in 2020 with deals worth $3.1 bn: Report
A report, titled 'India Real Estate Outlook - A Growth Cycle', said that what appeared to be a short term pull back from institutional investments in Indian real estate in the first three quarters of 2020, came back with bang in the last quarter with large deals.
NCLT can now issue directions to convene meetings of shareholders: Future Retail
A SC division bench had stayed, till February 26, the order passed by the single judge of Delhi High Court, which, on February 2, had directed all parties including regulatory authorities to maintain status quo (i.e. to stop the proceedings in the Scheme of Arrangement pending before NCLT, Mumbai) till the pronouncement of reasoned order of the single judge.
Arun Kumar resigns as CFO of Vedanta
Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading diversified natural resource companies with business operations in India, South Africa, Namibia, and Australia. Vedanta is a major producer of oil and gas, zinc, lead, silver, copper, iron ore, steel, aluminium and power.
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