BUSINESS
Coal India to cross 650 mt production target in FY 20-21
Coal India produced 405 million tonne coal by the third financial quarter ending December 31, 2020, which has a contribution of 101.8 million tonne from Odisha-based Mahanadi Coalfields Ltd (MCL). The CIL chief said there is need to produce more coal as demand for dry fuel is expected to rise post-Covid-19 pandemic.
Hopes on healthy Q3 season, global cues pushes market to record highs
The Nifty opened at record highs and continued its positive momentum throughout the day's trade session. Globally, Asian shares rose to record highs on Friday with Japan's Nikkei hitting a three-decade peak. Similarly, European markets traded higher on Friday as global investors anticipated that a Democratic-controlled US government will lead to greater fiscal support.
Pandemic Relief: Covid-19 treatment may qualify for tax deduction benefits
Currently, few deductions have been prescribed under Chapter VI-A of the Income Tax Act, 1961 for medical treatment for self or dependent suffering from disability/severe disability (Sections 80DD, 80U), and medical treatment of prescribed diseases and ailments (Section 80DDB). However, there is no specific deduction under the Act which covers treatment cost for Covid-19 patients who are not covered under any health insurance.
Possible govt intervention to curb high domestic steel prices: Report
In its steel monitor report, the agency cited that India's domestic consumption in November 2020 was at 8.93 MT, 7.8 per cent higher on MoM level but 2 per cent lower in terms of YoY comparison. "The improved domestic demand is reflected in steel prices which further increased in November 2020."
SBI offers further interest concession on home loans
"SBI, being a leader in home finance, will continue to make endeavours in reviving consumer sentiments and has been offering various offers on home loans from time to time," the lender said in a statement. "SBI believes that it is important to offer better rates to customers displaying good repayment history."
'Plastic film makers' margins to remain healthy over next 2 years
Accordingly, the agency estimates global BOPET (biaxially oriented polyethylene terephthalate) capacity utilisation to sustain at a 10-year high of 80 per cent over the next two years, while that for BOPP (biaxially oriented polypropylene) to rise to near 80 per cent over the next three years, from a 10-year low of 70 per cent currently.
Fuel price rise paused after taking petrol rates to record high level
Accordingly, petrol prices in Delhi remained unchanged at Rs 84.20 a litre while diesel prices maintained its price line of Rs 74.38 a litre in the national capital on Friday. Elsewhere in the country as well fuel prices remained at Thursday's level.
Nifty50 witnessing fastest rally since FY10
The Nifty50 on the National Stock Exchange (NSE) has gained 86 per cent in the current financial year, showed a report by ICICI Securities. On Friday, it hit a fresh all time high of 14,289.30 points. "On a rolling 9-month basis, the NIFTY50 index (+86 per cent) is close to exhibiting the fastest rally since FY10 when it gained 103 per cent in a similar timeframe," it said.
Moet Hennessy India appoints Ipsita Das as Managing Director
Ipsita brings over 14 years of experience in multinational organizations as well as technology start-ups where she has held various roles in commercial, operations and general management.
Signal sees surge in new users after Elon Musk vouches for it
Musk tweeted a meme late on Thursday, criticising Facebook for its inability to stop Capitol chaos going viral. The tweet posted an image of a series of ever-larger dominos, juxtaposed the start of Facebook on the Harvard University campus, all the way into becoming a platform that helped facilitate the attack on Capitol Hill.
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