BUSINESS
Tatas say Cyrus Mistry left Board meeting, wrote nasty email, Supreme Court reserves verdict
Senior advocate Harish Salve, representing Tata Sons, submitted before a bench headed by Chief Justice S.A. Bobde that Mistry walked away from the board on October 24, 2016 and later wrote a "nasty" email. Senior advocate C.A. Sundaram, representing Cyrus Investments, rebutted the claim, saying that he was removed and had not walked away.
IntrCity RailYatri partners with SBI General Insurance unit for travel insurance
The RailYatri in a statement said that the scheme will cover accidental death, disability, and medical (evacuation hospitalization) insurance to the beneficiaries. The passenger safety initiatives taken by the brand include a 24x7 command centre to track buses real-time, CCTV camera, and driver performance tracking to name a few.
Bitcoin reaches record-high $20,000 mark for the first time
After the online payments giant Paypal in March said that it would enable its account holders to use cryptocurrency, the value of bitcoin shot up from $5,000 (roughly 3.7 lakhs) on an accelerated pace, amounting to 170% annual growth.
Exim Bank forecasts India's Q3 Non-Oil exports to hit $ 68.3bn
On the other hand, total merchandise exports are forecast to continue to witness a moderation to $ 77.6 billion in the third quarter of 2020-21, as compared to $ 79 billion in the corresponding quarter of the previous year, on the back of one of the steepest and continued contractions in India's oil exports, witnessed since March 2020.
Global cues unleash bulls in equity market, pharma stocks rally
Accordingly, the market had a "gap up" opening at their respective high levels. In terms of sectors, most of the indices traded in the green. Among them, Pharma, Realty and Financial Services indices were the major gainers. At 2.30 p.m., Sensex was trading at 46,868.59, higher by 202.13 points or 0.43 per cent from the previous close.
India's FY21 GDP to contract by 7.8%: ICRA
According to the agency, in Q3FY21, rising raw material and wage costs would partly counteract the positive impact of a modest rise in volumes in the industrial sector. Consequently, with a steady performance of the agricultural sector and a lagged recovery in the contact-intensive parts of the services sector, ICRA forecasts a small contraction of 1 per cent in the India's GDP in Q3FY21.
Walmart to begin deliveries with driverless trucks in 2021
The move comes after Walmart last year began an autonomous vehicle pilot with Gatik to move customer orders on a two-mile route between a dark store -- a store that stocks items for fulfillment but isn't open to the public -- and a neighborhood market in Bentonville, Arkansas. The pilot has since then registered over 70,000 operational miles in autonomous mode with a safety driver.
Entry of big pvt equity players set to heat up BPCL takeover
According to analysts, the entry of marquee private equity players Apollo and I Squared, having experience in the energy sector, in the BPCL disinvestment process has given new dimension to the whole exercise.
Anil Agarwal keen on co-investing $10 billion in India
Teaming up with London-based Centricus Asset Management Ltd, Agarwal is looking for investments in Indian companies, offering significant growth opportunities, said a report by Bloomberg Quint. Showing an interest in the country's Rs. 2.1 trillion disinvestment program, the partners are keen on turning around companies being sold off.
'Inflation seen elevated in 2021, may decline by that year-end'
It noted that given the expected inflation trajectory, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is likely to hold rates till Q2FY22 (Q3CY21), it said, adding that the RBI may continue to take other measures to keep financial conditions easy to support recovery.
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