BUSINESS
Elon Musk's call to use Signal led to another firm's stock gain 1,100%
The stock surged 527 per cent on Thursday and another 91 per cent on Friday, jumping from 60 cents to $7.19, reports CNBC. The store price of Signal Advance multiplied 12-fold in two days. Signal Advance is so small that it doesn't report financials with the US SEC, till this happened. "The company now has a market cap of $660 million, up from $55 million two days ago. Prior to Thursday, the stock had traded under $1 since 2015," it said.
Covid-19 Vaccine rollout, gradual revival pushed crude prices above $50 per barrel: Report
Besides, the report said the 1 million barrel per day (mb/d) production cut announced by Saudi Arabia against the combined 75,000b/d increase granted to Russia and Kazakhstan for February and March 2021 would support the prices in the coming months.
Mumbai remains bullish, gets another Bull on its landscape
This time, the image is of a ready-to-charge 'Zebu Bull', with a pair of long, piercing horns pointing to the sky, which has come up at the Rajni Patel Chowk in the financial hub of Worli. It's a joint collaboration of the IndusInd Bank, the Hinduja Foundation and the Municipal Corporation of Greater Mumbai (MCGM), and becomes the fourth bovine gracing the country's commercial capital.
CBI books Hyderabad firm for Rs 4,736 crore loss to SBI consortium
A CBI official here said that it booked Coastal Projects Ltd based at Hyderabad, its Chairman and Managing Director and guarantor Sabbineni Surendra, MD and guarantor Garapati Harihara Rao, Whole-Time Director and Director Finance Sridhar Chandrasekharan Nivarthi, Whole-Time Director Sharad Kumar, Guarantor and Mortgagor A.K. Ramulu, K. Anjamma, Ravi Kailas Builders Pvt Ltd represented by its Managing Director/Director Ramesh Pasupuleti and Govind Kumar Inani and unknown public servants and others.
Amazon discontinues Pantry as it focuses on grocery delivery
Amazon Pantry orders charged customers a flat $5.99 shipping fee per box of groceries. The box could be filled with up to 45 pounds of products or up to four cubic feet of everyday stuff, like laundry detergent, toilet paper or snacks.
Tax sops for Covid hit Aviation Sector may come in Budget 2021
Addressing a webinar on "Connecting the Dots-Recovery of aviation, tourism and hospitality" on Friday, she underscored the need for the sector to be geared for any challenges and said that policy rejig will also help it in the long run, if it is hit by a similar crisis in the future.
Reliance completes sale of 74% shareholding in Parbati Koldam Company Limited to India Grid Trust
The deal was announced in November 2020 with the signing of a definitive binding agreement between RInfra and IndiGrid and has now been completed with the transfer of shares of PKTCL, and receipt of sale consideration.
Apple made $64 bn from App Store in Covid-hit 2020: Report
According to an analysis by CNBC, this marks a solid growth for the App Store since the estimated increase between 2018 and 2019 was only 3.1 per cent.
India's YoY formulations' market growth revives back to 8.5% in Dec: Ind-Ra
The agency opined the month-on-month growth in India formulations market during December 2020 was led by a rebound in volumes due to a pick-up in prescribers' interactions with patients and medical representatives.
Missing in Action: RIL stocks' performance can extend market rally, experts say
Experts opined that even as India's market rally has become the envy of the world, nevertheless, RIL stocks underperformed in the last three months. In the past three months, RIL shares have plunged 13.7 per cent. On October 8, the scrip was at Rs 2,238.9, while on Friday, it closed at Rs 1,933.05.
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