BUSINESS
Home sales improves by 50% in Oct-Dec: Report
A total of 21,800 units were sold during the last quarter of 2020 across eight major cities, it said. The '99acres.com Insite' report attributed the improving home buying sentiment, to the widened negotiation window, competitive home loan interest rates and festive demand.
IPO proceeds in India rises 61% in 2020, sentiments revive in Q4
The 'EY India IPO Trends Report: Q4 2020' showed that the increase in IPO proceeds came despite the fact that the number of IPOs in 2020 was just 43, down 33 per cent from 2019. It said that the fourth quarter of 2020 saw a strong rebound in IPO activity and market sentiment remains positive.
Financial health of Indian telcos to impact 5G launch: CCI Report
The 'Market study on the telecom sector in India' noted that spectrum ownership creates a competitive advantage for operators providing wireless access services and access to a larger quantum of the contiguous spectrum can increase operational efficiency.
Amazon penalised Rs 45,000 for cancelling student's laptop order
Amazon has been penalised by the Odisha State Consumer Dispute Redressal Commission (Commission) as compensation to law student Supriyo Ranjan Mahapatra. According to Amazon, the deal was between a third-party seller and the customer on their platform and that Amazon was not a party to their contract.
Textile body seeks customs duty hike on man-made yarns in Budget
According to the industry body, monthly average imports of Virgin Polyester Spun Yarn have increased manifold from 2015 to 2020. Imports from Vietnam alone have increased over 100 times, as per NITMA. Sanjay Garg, President of NITMA said that representations regarding the import concerns have been sent to the ministries of finance and textiles.
CAIT seeks action against Amazon, Zomato for 'daylight robbery'
CAIT has accused Amazon, Flipkart, Zomato, Swiggy and various other e-commerce entities for violation of mandatory display of Country of Origin and Manufacturer, seller details on products sold through their respective E-Commerce Portals as required under the Consumers Protection (E-Commerce) Rules,2020, Legal Metrology (Packaged Commodities) Act, 2011 and guidelines of Food Safety & Standards Authority of India.
Market Watch: Volatile expiry and budget expectations to drive markets
NIFTY lost 61.80 points or 0.43 per cent to close at 14,371.90 points. The low and high for the week was 48,403.97 points and 50,184.01 points on the BSESENSEX. It was 14,222.80 points and 14,753.55 points on NIFTY. This means that effectively BSESENSEX lost 600 on Monday at the low, gained 1800 points to form the top on Thursday and then lost 1400 points to the close.
Intervention Impact: RBI expected to rein-in rising rupee
Experts contend that effects of large FIIs' inflows will be neutralised by the RBI as it aims to keep the country's exports competitiveness. The RBI is known to enter the markets via intermediaries to either sell or buy US dollars to keep the rupee in a stable orbit. Recently, the RBI was called out by the US Treasury Department to curtail its market activities.
Fuel Price: Petrol, diesel prices remain unchanged at record high levels
In the national capital, petrol was priced at Rs 85.70 per litre. In Mumbai, Chennai and Kolkata, petrol was sold at Rs 92.28, Rs 88.29 and Rs 87.11 per litre, respectively. Although the pump prices of fuels were unchanged on Sunday, they have been elevated for long and have been touching new highs of late.
eGrocery to grow 8X in 5 years in India, JioMart big gainer
The eGrocery market has grown 60 per cent from the calendar year 2020 and is expected to grow 41-49 per cent by the first half of CY21, according to the latest data provided by homegrown consulting firm RedSeer.
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