BUSINESS
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.
Global LNG demand will be driven by Asia-Pacific: ICRA
The assessment comes after the spot price for natural gas (spot LNG prices) rose to an all-time high level in January 2021. The Japan Korea Marker (JKM), which is a representative of the spot gas prices for Asia, rose sharply to $32.94 per MMBtu for February delivery on January 12.
Higher allocation needed for power distribution infra in Budget FY22
ICRA has recommended higher budgetary allocation to strengthen the power distribution infrastructure and improve the financial viability of the distribution segment, including the implementation of amendments to the Electricity Act. The government should take measures to augment fund availability and ease land acquisition challenges with a view to achieve the renewable capacity targets, it said.
Faster recovery from Covid restrictions to boost India's growth to 11%: Gopinath
Gopinath said the upgrade in India's GDP growth forecast is "because activity and mobility particularly came back much faster than expected in India. We have not seen another wave. In fact, we've seen a very strong decline in cases, which is again a bit different from other parts of the world".
Twitter acquires newsletter email service Revue
The move will allow Twitter to effectively utilise its user base of writers, journalists and publications that regularly use the service. "Starting today, we're making Revue's Pro features free for all accounts and lowering the paid newsletter fee to 5 per cent, a competitive rate that lets writers keep more of the revenue generated from subscriptions," Twitter product lead Kayvon Beykpour said in a statement.
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