BUSINESS
Jio, Facebook is value creation platform for small businesses in India: Mukesh Ambani
"I have no hesitation in going on record, that it is your investment that set the ball rolling. Not only for Jio, but for the Indian FDI which has been the largest-ever in its history. And our partnership between Jio and Facebook, will actually demonstrate that it is great for India, Indians, and small Indian businesses," Ambani said.
Profit booking, macro-data subdues market, banking stocks tank
However, a steady inflow of foreign funds, along with a late hour buying spree in auto and metal stocks, led to a gradual recovery which allowed the indices to close on a positive-to-flat levels during a volatile session. Foreign investors pumped in liquidity worth Rs 2,484.09 crore on Tuesday, while volumes on the NSE were in line with recent averages.
India's November merchandise exports fall by 8.74% Year-on-Year
"Cumulative value of exports for the period April-November 2020-21 was USD 173.66 billion as against USD 211.17 billion during the period April-November 2019-20, registering a negative growth of (-) 17.76 per cent in dollar terms," a Ministry of Commerce and Industry statement said on the basis of preliminary data.
India, US two most investor-friendly markets in terms of portfolio disclosure: Study
The two countries earned top grades for their robust disclosure regimes across six categories including fees, transparency of fund holdings and issues such as conflicts of interest.
Profit booking subdues equity induces, banking stocks dip
The market opened on a flat note following lacklustre global cues and fell sharply thereafter. However, it rebounded piercingly from lower levels and trimmed off most of its intraday losses. Globally, shares in Asia retreated after a mixed trade session on the Wall Street. Back home, disappointing macro economic inflation data and a bout of profit bookings led to a sharp decline.
AgustaWestland Case: Court refuses to cancel warrants against Shravan Gupta
According to the Enforcement Directorate, the money laundered in the VVIP chopper case was routed through shell companies controlled by Gupta. A non-bailable warrant was issued against him in August for not joining the investigation despite summons.
Partnership with Jio to help support millions of SMBs: Zuckerberg
Zuckerberg made the remark during a conversation with Mukesh Ambani, Chairman and Managing Director, Reliance Industries at the first Facebook Fuel for India 2020 event. In April this year, Facebook announced an investment of Rs 43,574 crore in Jio Platforms for a 9.99 per cent stake. Zuckerberg said that supporting small businesses has become more important in view of the Covid-19 induced impact on the economy.
High inflation may make rate cut difficult even in FY22: Report
According to a research report by Emkay Global Financial Services, while inflation may have peaked, consistent supply shocks have meant the inflation series is estimated to average around 6.3 per cent in FY21. This is well above the RBI confront zone and would shape easing in FY22 for some policy action to come into play by the RBI.
Burger King India's stocks hit upper circuit again
The company's stock got listed on Indian bourses on Monday and on the debut day itself it opened on a premium of over 87 per cent over the IPO price at Rs 112.50. The stock ended the day on Monday hitting the upper circuit, garnering a premium of over 130, at Rs 138.40. The performance of the stock had even defied projections made by analysts who had expected Burger King to list at around 70-75 percent premium over issue price.
Kapil Wadhawan's fresh offer for DHFL, '100% refund' to creditors
In a letter which has also been marked to the Reserve Bank of India (RBI), the Prime Minister's Office (PMO), the Ministry of Finance, the Ministry of Corporate Affairs and the Committee of Creditors (CoC), he has offered to make the full principal refund within a period of seven to eight years.
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