BUSINESS
December auto registrations log positive growth, first time in FY21
Data released by the Federation of Automobile Dealers Associations (FADA) on Monday showed that over 18.44 lakh vehicles were registered last month, compared with over 16.61 lakh units in December 2019.
Sterlite Power raises Rs 200 cr from Allianz Global Investors
The Rs 200 crore facility from Allianz GI has been raised as a non-convertible debenture with a three-year tenure and is part of the larger refinancing exercise undertaken by Sterlite Power to reduce its holding company borrowings.
India may revise import duties of critical raw materials to boost manufacturing
Agarwal said that the focus is to promote the Atmanirbhar Bharat programme. "Promoting the Atmanirbhar Bharat scheme, however, does not mean that India does not want to integrate with the global supply chain. We are keen looking at every possible way to see how well our manufacturers get integrated into the global chain," he said. Several manufacturers have been complaining about non availability of raw materials.
Axis Bank offers term deposits without penalty on premature closure
The objective of this customer-friendly feature is to inculcate and encourage retail customers to go for long-term savings without worrying about the sudden need for liquidity, the bank said in a statement.
Domestic funds see outflows after 5 years
According to a report by Motilal Oswal Institutional Equities, in calendar year 2020, while FIIs inflows were at a record highs, outflows by DIIs were at fresh highs too. FII inflows for CY20 were strong at $23.4 billion – the highest since CY12. However, DIIs recorded their first outflows (-$4.9 billion) after five years of inflows.
MassMutual opens centre in Hyderabad, plans Rs 1,000 crore investment
MassMutual's investment plans are over Rs 1,000 crore in GCC based on projections, according to a statement by the Telangana government. The GCC, the first centre for MassMutual outside of the United States, has come up on about 1,50,000 square feet leased space at Vamsiram's BSR IT SEZ in Financial.
Govt proposes pre-packaged insolvency resolution framework under IBC
The ministry has sought comments on the recommendations of sub-committee of the Insolvency Law Committee by January 22. Government constituted the sub-committee in June last year to prepare a detailed scheme for implementing pre-pack and prearranged insolvency resolution process.
Reliance Capital Limited debenture holders pave way for asset monetisation
Reliance Capital had commenced its asset monetisation process - to unlock value of its underlying businesses which targets to make RCAP debt free. JM Financial Services Limited and SBI Capital Markets Limited ran an independent and transparent asset monetizsation process.
Airtel appoints Pradipt Kapoor as Chief Information Officer
Kapoor's most recent assignment was at A.P. Moller - Maersk where he was Global Head of Products and Solutions Engineering. Prior to this, he spent over a decade at SITA Inc (U.K.) running Products Engineering. He has also had formative experience as an entrepreneur, said the statement.
Share Market: Sensex trades over 49,000 on global cues, Q3 earnings
The rise in domestic indices came on the back of a positive trend in the global markets along with robust Q3 earnings. Healthy buying was witnessed in IT stocks, which surged on the back of strong third quarter of the Tata Consultancy Services. IT major TCS on Friday reported a rise of 7.2 per cent in its consolidated net profit for the third quarter of FY21.
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