BUSINESS
Tata Steel moves Supreme Court against Jharkhand government's Covid-19 cess on minerals
The Jharkhand government had in July promulgated an ordinance to levy ‘Covid Cess' on mineral bearing lands for mitigating the hardships caused by the Covid-19 pandemic.
Bharti Global, UK Government-led OneWeb launches 36 satellites
A statement by OneWeb said that the development brings the total in-orbit constellation to 110 satellites, part of OneWeb's 648 LEO satellite fleet that will deliver high-speed, low-latency global connectivity.
GDP growth to be positive in next quarter: Department of Economic Affairs Secretary
Speaking at the CII Partnership Summit 2020, the official said that agriculture has been the positive aspect in the current scenario. "The way we are monitoring the parameters, the GDP growth will be positive in the next quarter. Agriculture has been the positive aspect in the current scenario," he said.
Market inches-up on late hour buying spree, IT stocks rise
However, the market remained subdued throughout the day's trade session due to profit booking along with extremely high stock valuations. Globally, Asian shares slipped on speculation of heightened United States-China trade standoff.
Mumbai-Ahmedabad Bullet Train Project: Larsen and Toubro lowest bidder for 28 steel bridges
National High Speed Rail Corporation Limited (NHSRCL) spokesperson Sushma Gaur in a statement said that the financial bids for procurement and fabrication of 28 steel bridges for crossing over railway lines, rivers, highways, road and other structures (P-4 Package) for the MAHSR Corridor were opened today.
Steel price hike: Unhappy Nitin Gadkari writes to PM Modi
“Steel companies have raised the rates by 55% in the last six months. I have written to the Prime Minister and have suggested that the issue should be discussed at the highest level. Some decision has to be taken. This (the price hike) is not good. (It has to be known) if the hike is commensurate with the increased cost of labour, power and raw materials. Lowering the productivity and increasing the rate is not a good strategy,” Gadkari said at an Assocham event.
India’s smartphone market grew by 42% in October: IDC
The rise in sales was reported due to the multiple online sales event and festive season towards the end of the month. However, IDC says that it expects the smartphone market to see a single-digit decline in the final consumer sell-out in 2020 on a full-year basis.
Gold, silver prices fall on profit booking
Further, increasing hopes of an economic stimulus from the US government also weighed on the price of gold internationally, which reflected in the domestic market. As the US Congressional Republicans and Democrats try to pass a new round of coronavirus aid, lawmakers from both parties are of the view that failure to agree was not an option anymore.
Flipkart onboards 35% more sellers in 2020 amid e-commerce surge
These sellers came from tier-2 and tier-3 regions such as Tirupur, Howrah, Zirakpur, Hisar, Saharanpur, Panipat and Rajkot, the company said. They primarily catered to categories such as household needs, women's ethnic wear, grooming, home decor and toys and school supplies. During the "pre-Covid" January-March period, the most searched products included personal care, men's clothing, footwear and women's clothing.
How Piramal bid for DHFL scores higher
As part of the RFRP, the Committee of Creditors (COC) has shared a purely objective scoring grid. This is a weighted average of upfront cash amount and the NPV offered by each bigger. Piramal bid scores highest on this quantitative score, experts said. The Piramal bid is unconditional, and does not have build in options for revoking the bid, or revoking pricing at a later date etc.
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