BUSINESS
11 Indian firms among 500 most-valuable companies of world, country at 10th spot: Report
The total value of these 11 companies grew 14 per cent and has been pegged at $805 billion or nearly a third of the Indian GDP. All these companies in the listof non-state enterprises have gained in value during 2020, which was hit by thepandemic, barring tobacco major ITC and second largest private sector lender ICICI Bank.
Byju’s seals the deal to acquire Blackstone-backed Aakash tutorials at $1bn
Headquartered at Bangalore, Byju’s is valued at $12 billion and and has found support from the several tech giant honchos such as Mark Zuckerberg’s Chan Zuckerberg Initiative, as well as fromTiger Global Management and Bond Capital, co-founded by Silicon Valley investor Mary Meeker.
Share Market: Sensex above 49,700, auto and telecom stocks rise
The Nifty50 on the National Stock Exchange also was above the 14,600 level. Healthy buying was witnessed in auto, telecom and oil and gas stocks. Around 10 a.m., Sensex was trading at 49,730.90, higher by 213.79 points or 0.43 per cent from its previous close of 49,517.11.
India's real GDP likely to grow by 11% in FY22: Report
The report said economic activities are slowly reaching pre-Covid levels following the relaxation of the lockdown, except in sectors that remain affected by social distancing norms. However, Revival in sectors that fall under discretionary spending is likely to be delayed as the economy is still under the grasp of the pandemic.
Bharti Airtel gets approvals for 100% FDI in subsidiaries
In a regulatory filing, the company said that it is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100 per cent with immediate effect.
RBI imposes Rs 2 cr fine on Deutsche Bank AG
An RBI statement said that the action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
India second highest contributor for IBM patents in 2020
The scientists and researchers received 9,130 US patents in 2020, the most of any company, marking 28 consecutive years of IBM patent leadership. IBM led the industry in the number of Artificial Intelligence (AI), cloud, quantum computing and security-related patents granted.
Bharat Biotech inks deal to supply Covaxin to Brazil
A team from Precisa Medicamentos visited the Bharat Biotech facility here last week to discuss potential export possibilities of Covaxin, India's first indigenous vaccine for Covid.
DGGI issues show-cause notice to Amazon over 'wrong' ITC claim
The GST intelligence arm has raised a demand of Rs 175 crore, sources said. An investigation by DGGI has found calculation errors made by the e-commerce company.
Retail inflation down to 4.59% in Dec 2020
The data released by the Ministry of Statistics and Programme Implementation showed that the easing of the Consumer Price Index (CPI) came on the back of a decline in food prices.
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