BUSINESS
Bear Rampage: Fund outflows dent equities; banking stocks drown
Investors were seen cautious ahead of monthly F&O expiry as well as pre-budget speculations. Accordingly, the two key indices -- S&P BSE Sensex and NSENifty50 -- both fell around 2 per cent with the barometer index falling close to 1,000 points.
2 Indian companies join climate initiative at Davos summit
Run by the Energy Transitions Commission, Rocky Mountain Institute, the 'We Mean Business' coalition, and the World Economic Forum, the Mission Possible Partnership aims to accelerate several pathways for decarbonising heavy industry and transport by unifying the critical actors needed to influence and enable industry transformation at speed and scale.
Sensex plunges 1,000 points, Nifty below 14,000
Around 2.45 p.m., Sensex was at 47,310.81, lower by 1,036.78 or 2.14 per cent from its previous close.The Nifty50 also fell below the psychological 14,000-mark. It was trading at 13,944.25, lower by 294.65 points or 2.07 per cent from its previous close.
Budget 21-22 must set aside threat for India becoming dumping ground for global Al scrap
India has overtaken China as the world's largest importer of aluminum scrap, and the country has been adversely impacted due to recent global developments and US-China trade war further fuelled by China's National Sword Policy measures to cut Scrap Imports substantially with stringent scrap standards and inclusion in restricted list of imports, government quota for import, and 25 per cent tariffs aluminium Scrap imports from USA.
India's smartphone shipments hit over 150 million units in 2020
The high consumer demand post-lockdown, as well as strong promotions on online channels and new uses cases like e-learning and work from home, drove the smartphone market in the pandemic-hit year, said the latest research from Counterpoint's Market Monitor service.
TCS' brand value up by $1.4 billion, highest in IT services in 2020
TCS has further consolidated its position among the top 3 most valuable brands in the IT services sector, according to Brand Finance, the world's leading brand valuation firm. According to the Brand Finance ‘IT Services 25 2021' report, TCS grew in a challenging year when the brand value of IT services companies collectively dropped by 3 per cent.
Aadhar Housing Finance files for Rs 7,300 crore IPO
The offering would include equity shares aggregating up to Rs 1,500 crore and offer of sale of up to Rs 5,800 crore by the promoter BCP Topco VII Pte Ltd. In its draft red herring prospectus, the company said that it would utilise the money raised through the IPO towards augmenting its capital base.
OLED panel sales help LG Display swing to net profit in Q4
LG Display reported a net profit of 621 billion won ($561.2 million) for the October-December period, swinging from a loss of 1.81 trillion won a year earlier. Operating income for the fourth quarter was 685.5 billion won, compared with a loss of 421.9 billion won a year ago, the company said in a regulatory filing. Sales rose 16.2 per cent on-year to 7.46 trillion won.
Microsoft logs 17% revenue growth riding on cloud business
Microsoft stock rose as much as 6 per cent in extended trading on Tuesday. "What we have witnessed over the past year is the dawn of the second wave of the digital transformation sweeping every company and every industry," said Microsoft CEO Satya Nadella.
450 infra projects report cost overrun of Rs 4.28 lakh crores
According to the data, 558 out of 1,687 Central sector projects are delayed. The total original cost of implementation of the 1,687 projects was over Rs 21.44 lakh crore and their anticipated completion cost is likely to be over Rs 25.72 lakh crore, which reflects overall cost overruns of Rs 4.28 lakh crore, 19.96 per cent of original cost.
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