BUSINESS
RIL's Q3FY21 consolidated net profit rises to Rs 14,894 crore
Accordingly, the company's consolidated net profit during the third quarter of FY21 increased to Rs 14,894 crore from Rs 11,841 crore reported for the corresponding period of the previous fiscal. The consolidated net profit attributable to owners of the company also fell to Rs 13,101 crore from Rs 11,640 crore reported for the corresponding quarter of the previous fiscal.
India Inc counts on the Budget announcements; optimistic about growth in FY22: Deloitte survey
According to a recent survey conducted by Deloitte Touche Tohmatsu India LLP (DTTILLP), a majority (68 per cent) of the 180 industry leaders are positive about India's economic revival. The survey noted that Respondents believe that the mass vaccination drive, the government's stimulus packages and other policy changes, focused attention to infrastructure, and continuing efforts on digitisation are some key areas helping India revive and thrive.
Vaccine to Vacation: Inoculation drive to pump up airline sector
Market insiders have cited that the commencement of the inoculation drive has raised travellers' optimism, which will not only boost air travel, but also the entire hospitality value chain. Consequently, industry players like ixigo have seen a surge in demand and search queries.
Bitcoin falls below $30,000 worst weekly loss in months
Two weeks ago, Bitcoin hit $42,000, but it is now down 30 per cent from that record high. According to reports, increasing calls for regulation is the reason Bitcoin has crashed so big. At a US Senate hearing earlier this week, Janet Yellen, US President Joe Biden's nominee for Treasury Secretary, suggested that lawmakers must "curtail" the use of cryptocurrencies such as Bitcoin over concerns that they are being used for illegal activities.
Plant closure: Supreme Court declines Vedanta's plea for early hearing of appeal
As the Tamil Nadu government had filed a special leave petition in the top court for expunging certain remarks in the Madras High Court order, a bench headed by Justice R. F. Nariman and comprising Justices Navin Sinha and K. M. Joseph admitted it and tagged it with the main matter.
Share Market: Sensex slumps 700 points, gives up 49,000
It fell 746.22 points, or 1.50 per cent, to close at 48,878.54 as heavy selling was witnessed in banking, finance and metal stocks. The Nifty50 on the National Stock Exchange closed at 14,371.90, lower by 218.45 points, or 1.5 per cent, from its previous close.
At $200 billion, household savings climb to 20-year high during Covid-19 lockdown: Report
A vast portion of this surplus is in cash only. The total savings soared by a whopping 135 per cent during the lockdown months, a report by UBS said, adding now household savings constitute as much as 58 per cent of the gross capital formation while that of corporates is only 32 per cent.
HDFC Bank reviews SEBI order in BRH Wealth Kreators' matter
A SEBI probe found that the lender had unilaterally invoked securities pledged by BRH to the extent of Rs 158.68 crore and the capital market regulator has thereby directed the bank to deposit an equivalent amount, along with interest from October 14, 2019 till date at the rate of 7 per cent per annum, in a separate interest bearing escrow account, till the issue of settlement of clients' securities is reconciled.
Alibaba's Tmall Global helps global SMEs open online stores
The company will provide tailored registration, consultation, logistics, operation and language services to global brands, allowing them to open online stores in as quick as 30 days. According to Tmall Global, experts on cross-border business will offer one-on-one online guidance in nine languages to merchants from over 20 countries within three working days.
Share Market: Sensex drops 550 points, holds on to 49,000
Heavy selling in banking, finance and metal stocks weighed on the indices. Around 2.40 p.m., Sensex was trading at 49,073.58, lower by 551.18 points or 1.11 per cent from its previous close of 49,624.76. It opened at 49,594.95 and has so far recorded an intra-day high of 49,676.88 and a low of 48,894.64 points.
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