BUSINESS
DDA launches new housing scheme, offers 1,354 flats
Of the 1,354 flats, 254 are HIG in Dwarka, Rohini, Paschim Vihar Jasola, and Vasant Kunj. As many as 757 MIG category flats are located in Dwarka, Rohini, Vasant Kunj, Janahgirpuri, and Madipur. Officials said 291 flats have been earmarked for the economically weaker sections. The remaining 52 are Low-Income Group category flats in Dwarka and Rohini.
Traders' body plans to reduce Chinese imports to Rs 1 lakh cr in 2021
In a statement, the traders' body said it would run a programme this year to "liberate" the country's e-commerce business from the clutches of foreign companies. "As part of its 'Boycott Chinese Goods' campaign from June 10, 2020, the CAIT has set the target of bringing down imports from China by Rs 1 lakh crore by the end of this year," the traders' body added.
Centre invites EoIs for 26% stake sale in BEML
BEML is a 'Miniratna' Category-1 Public Sector Undertaking, under the administrative control of Ministry of Defence (MoD). The government currently holds 54.03 per cent stake in it. "GoI proposes to disinvest its equity shareholding of 26 per cent in BEML out of its shareholding of 54.03 per cent by way of strategic disinvestment to investor(s) along with transfer of management control," BEML said in a regulatory filing.
Bitcoin turns 12, crosses $34,000 for first time
Once the price of the leading cryptocurrency crossed the $30,000 mark for the first time -- something it had struggled to do for the last couple of days -- it exploded upwards reaching a new all-time high of $33,136.92 and then continuing the push, breaching $34,000 hours later, reports CoinDesk.
Private banks witnessed rise in NPAs in large borrowal accounts in FY20: RBI
A recent report by the Reserve Bank of India (RBI), cited that gross NPA ratio as well as the ratio of restructured standard assets to total funded amounts emanating from larger borrowal accounts in the public sector banks have gone down. At the end of September 2020, large borrowal accounts constituted 79.8 per cent of NPAs and 53.7 per cent of total loans, it said.
DHFL COC seeks to oust Oaktree from bidding race; rules changed again to favour Piramal
Interestingly, Oaktree has emerged as H1 with the highest bid of Rs 38,400 crore. However, at the instance of some of these lenders, the rules of the game are being changed again to favour Piramal Group. The bid evaluation criteria have been altered wrongly whereby Oaktree bid value will unfairly be suppressed by Rs 2,700 crore.
Samsung likely to report $9bn in operating income in Q4
Samsung, also the world's largest smartphone vendor, is likely to report an operating income of 9.74 trillion won ($8.95 billion) during the fourth quarter of last year, up 36.8 per cent from a year earlier. But the latest estimate is slightly lower than the 10.16 trillion won projected a month earlier, reports Yonhap news agency.
Earning Support: Hopes of healthy Q3 results, vaccine rollout to lift equities
Accordingly, a positive earning outlook on many sectors will sustain investors' interest in the market. Besides, the step by step development over the rollout plan of the anti-Covid vaccine will further augment hopes of a faster economic revival. However, analysts cite the possibility of intermittent profit booking to hamper the upward trajectory.
Railways registers record freight load, earnings in December 2020
In December last year, freight load totalled 118.13 million tonnes compared to 108.84 million tonnes in 2019, the Railways said in a statement. In this period, the Railways earned Rs 11,788.11 crore from freight load, an increase of Rs 757.74 crore or 6.87 per cent compared with earnings of Rs 11,030.37 crore during the corresponding period in 2019.
Tata Sons surpasses Centre as the largest promoter of listed companies
Notably, the Central government has ceased to be the largest promoter of listed entities after 20 years. The development comes both on the back of rising stake of Tata Sons in its listed entities and declining market capitalisation of state-run companies. Tata Sons' stake in the conglomerate's listed companies has increased over 34 per cent in the past one year to Rs 9.28 lakh crore, which is higher than the Government of India's stake in public sector undertakings, Rs 9.24 lakh crore.
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