BUSINESS
Yes Bank logs net profit of Rs 151 crore in October-December quarter
The net interest income of the restructured bank increased by 29.7 per cent on quarter-on-quarter basis to Rs 2,560 crore. Besides, the bank reported a total step up in provisioning of Rs 2,935 crore, consisting of additional Rs 765 crore towards Covid-19 related provisioning and the balance majorly towards increasing 'PCR' of both 'NPA and NPI'.
GoAir commences 'Freedom Sale', offers 1 million seats for booking
As part of its "Freedom Sale", the airline has made available "one million seats" to book on its domestic network. "Starting at an all-inclusive lowest fare of INR 859, the eight-day freedom sale is effective from January 22 to January 29, 2021, and will be valid on one-way fares for travel from April 1 until December 31, 2021 on airline's domestic network," the airline said in a statement.
Several companies took part in virtual roadshow of Rail Land Development Authority
According to RLDA, the week-long event witnessed the participation of representatives from renowned companies such as Macquarie Group, Ontario Teachers' Pension Plan, Brookfield, I Squared Capital, Mahindra Group, Mecef International, Infrastructure Asia, among 30-35 others.
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.
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