BUSINESS
Google providing $53 bn in benefits to businesses in Australia
The Google's '2020 Economic Impact Report' said that 1.3 million businesses receive $39 billion in benefits through increased revenues, millions of connections with customers and greater efficiencies, saving time and money. The company said Search saves users almost 5 days a year and drivers save 5.6 hours per year using Google Maps.
Sugar production up 31% to 142.70 lakh tonne
As per the industry body, 487 sugar mills in operation across the country as on January 15, 2021 have produced 142.70 lakh tonne of sugar, as compared to 108.94 lakh tonne produced by 440 sugar mills as on January 15, 2020. This is higher by 33.76 lakh tonnes or 30.98 per cent from last season's production for the corresponding period.
BharatPe raises Rs 139 cr debt from Alteria Capital, ICICI Bank
The company raised Rs 90 crore in debt from Alteria Capital and Rs 49 crore from ICICI Bank. The company has raised a total of Rs 199 crore in debt to date. The company is disbursing loans of Rs 200 crore per month to merchant partners currently and has set a target of disbursing Rs 1,000 crore of loans in the FY21.
HDFC Bank shares hit record high on robust Q3 earnings
Its shares on the BSE touched an all-time high of Rs 1,503 per share. The bank's stock price, however, is off highs now, and around 12.20 p.m., the scrip was trading Rs 1,483.40, higher by Rs 17.05 or 1.16 per cent from its previous close. On Saturday, the lending major reported an 18.1 per cent increase in standalone net profit for the quarter ended December 31 of FY21 on a year-on-year basis.
Godrej announces first close of $500 million office development platform
Under this programme, GFM will have the ability to develop Class-A office assets that will be valued in excess of $1.5 billion (Rs 11,000 crore) on completion and the total value of office assets including those from previous funds will take the portfolio value on completion to over $3 billion (Rs 22,000 crore). GFM has fully invested the previously raised capital under GBTC I and Godrej Office Fund I.
Metropolis Healthcare to acquire Hitech Diagnostic to strengthen position in South India
Metropolis will acquire 100 per cent equity of Dr. Ganesan's Hitech Diagnostic Centre Pvt. Ltd. in a combination of cash and stock deal. The entity is a debt free company. Cash consideration will be Rs 511 crore and Metropolis will issue up to 4,95,000 equity shares of Face Value Rs 2/- each on preferential basis, subject to shareholders approval, to the Promoter Group of Hitech.
Yes Bank board to discuss raising funds on Jan 22
In a regulatory filing, the bank said that its board of directors will consider raising of funds by issue of equity shares/depository receipts/convertible bonds/debentures/warrants/any other equity linked securities, through permissible modes subject to necessary shareholders/ regulatory approvals, as applicable.
Bird flu to hit Jan sales, unlikely to cull poultry profitability this fiscal: Crisil
Avian flu has been confirmed in as many as 10 states since the first incident was reported in Kerala in the first half of December 2020. Such outbreaks have been witnessed year after year due to carrier migratory wild birds crossing into the country. However, the outbreaks in organised poultry farms have been rare.
Flipkart introduces SuperCoin Pay across 5,000 partner stores
SuperCoin Pay will enable customers to pay their bills at the partner stores using the SuperCoins they have earned on Flipkart. The company said that all benefits can be accessed by simply scanning a QR code at the partner store using the Flipkart app. Customers can also access the entire list of stores and partner brands on the Flipkart app under ‘Rewards store' in the ‘SuperCoin' section.
Reliance to embed its e-commerce app JioMart into WhatsApp within 6 months
The integration will allow a seamless operation of shopping experience from within the messaging platform of WhatsApp. The user will not need to switch to other applications in order to shop. This phenomenon will also help Reliance catapult its Retail branch and compete with other retail majors such as Amazon and Flipkart. This will prove to be a real threat to Amazon’s domination in the Indian retail market.
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