BUSINESS
BEML shares surge nearly 8% as govt invites EoIs for stake sale
"Govt has issued the PIM/EOI for disinvestment of 26 per cent equity share capital of BEML Ltd along with transfer of management control. Disinvestment will be through a two-stage competitive bidding process," said a tweet by the Twitter handle of the Secretary, Department of Investment and Public Asset Management on Sunday.
Maruti Suzuki's domestic sales record nearly 18% growth in December 2020
As compared to 1,33,296 units in December 2019, the company's total sales grew by 20.2 per cent to 1,60,226 units in December month of 2020. Mini cars such as Alto and S-Presso's sales recorded a rise of 4.4 per cent to 24,927 units as compared to 23,883 in December 2019. The compact segment vehicles, including models Swift Celerio, Ignis, Baleno, and Dzire, rose 18.2 per cent to 77,641 units as against 65,673 cars in December 2019.
Sensex hits 48,000 for the first time ever
It has touched an all-time high of 48,168.22 points. Similarly, the Nifty50 on the National Stock Exchange touched a high of 14,114.15 points. Hopes on the vaccine front, along with improved auto sales and GST collection data supported the market sentiments on Monday.
Imports record growth for first time since February 2020, exports down by 0.8%
As a result, the trade deficit widened to $15.7 billion, which is the highest since January 2020, states the preliminary numbers released on Saturday by the commerce department. The sectors that recorded double-digit export growth are, drugs and pharmaceuticals, chemicals, electronic goods, and iron ore, while the fall in oil prices resulted in a sharp decline of 40% in the value of petrol and diesel that were shipped out of the country in December month.
Samsung, LG aim to foster future growth engines in 2021
Samsung, the world's largest smartphone and TV vendor, said it aims to actively cope with social and economic changes induced by the COVID-19 pandemic so that 2021 can be the year that provides a platform for its future growth.
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.
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