BUSINESS
Foreign fund outflows, profit booking pull equity markets lower
Investors were seen cautious ahead of monthly F&O expiry as well as pre-budget speculations, while hefty allocation towards IPOs' subscription took away some funds from the market. Notably, the FIIs were net sellers to the tune of Rs 765.30 crore in BSE, NSE and MSEI in the capital market segment.
FDI flow into India grows 13% in 2020
The growth in FDI into India was witnessed despite a slump in investments into other developing economies. FDI flows to developing economies decreased by 12 per cent to an estimated $616 billion and they accounted for 72 per cent of global FDI, the highest share on record, the UNCTAD report said.
Worldwide IT spending to grow 6.2% in 2021: Gartner
The unprecedented speed of digital transformation in 2020 to satisfy remote working, education and new social norms presented lockdowns and social distancing measures as double-edged swords - one which has abated the pandemic's negative effect on IT spending going into the New Year.
Recovering Fortunes: Yes Bank sees signs of reaching pre-Covid levels soon
The bank's own financial performance has improved drastically. It has again reported a net profit for the third consecutive quarter.
Apart from q high retail loan disbursement demand, the bank has also witnessed a brisk recovery of bad loans. In fact, 60 per cent of Rs 5,000 crore target of recovery till March 2021 has already been completed.
Apple doubled its India smartphone market share in Q4 2020
Despite arriving in October, the iPhone 12 contributed significantly towards the rise of Apple in Q4 (October-December) in the country, according to data provided by market intelligence firm CyberMedia Research (CMR). The tech giant registered over 60 per cent growth (yea-on-year) in its India business in the full year 2020 while for the festive quarter, the growth was an impressive 100 per cent (YoY).
Kotak Mahindra Bank logs 11% growth in Q3 net profit
In a regulatory filing, the Kotak Mahindra Bank said that for Q3FY21, the bank's contribution to the consolidated profit after tax was Rs 1,854 crore. The net contribution of subsidiaries and associates was 29 per cent of the consolidated PAT.
China was largest recipient of FDI in 2020: Report
The United States came second with $134 billion, the United Nations Conference on Trade and Development (UNCTAD) said in a report released on Sunday. In 2019, the United States had received $251 billion in inflows and China got $140 billion.
Indian billionaires increased their wealth by 35% during Covid-19 lockdown: Oxfam Report
The 1,000 richest people on the planet recouped their Covid-19 losses within just nine months, but it could take more than a decade for the world's poorest to recover from the economic impacts of the pandemic, reveals the report titled 'The Inequality Virus,' published on the opening day of the World Economic Forum's 'Davos Agenda'.
19 IPOs worth $1.84 billion in Dec 2020 show great momentum despite COVID-19 slump in India
There were a total of 10 Initial Public Offers (IPOs) in the main market and 9 in the SME (Small and Medium Enterprises) segment in 2020 Q4, the report said. There were 19 IPOs recorded in the latest December quarter which were valued at USD 1.836 billion with the largest amongst them being Gland Pharma with an issue size of 869 million US dollars. There were just 11 IPOs in the year-ago period.
CII pushes for Digital Infra Fund with more Govt investment, for inclusive growth and employment
The industry body has suggested that the Government make a token budgetary allocation of Rs 5,000 crore in the upcoming Budget 2021-22 towards building the Broadband Infrastructure Fund. It has highlighted that a rapid acceleration in the creation of digital infrastructure will be an effective tool for inclusive digitalisation which will help add to economic growth and employment.
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