BUSINESS
India records 131 deals worth $4.1 bn in August, big investments disappear
Mergers & Acquisitions (M&A) deals recorded 21 deals valued at $1.5 billion while deal volumes saw significant downtrend, according to Grant Thornton Bharat's 'Dealtracker Report August 2022.'
Oracle Cloud biz sees 100% growth in India, doubles customer base
In India, the OCI is growing at 25 per cent quarter on quarter (QoQ) and the company has clocked double-digit growth across all lines of businesses, in some even triple digit, Kapil Makhija, Vice President - Technology Cloud Business, Oracle India, told IANS.
Equities end down on sell-off in IT, pharma stocks
At the close, Sensex ended 412.96 points, or 0.68 per cent, down at 59,934.01, and Nifty closed 126.35 points, or 0.70 per cent, down at 17,877.40. Nifty IT index closed 1.43 per cent down and BSE IT index ended 1.63 per cent lower, whereas, Nifty Pharma and BSE Cons Durables closed 1.29 per cent and 0.76 per cent, respectively, down.
Rupee ends 26 paise down at 79.70 against US dollar
"Indian rupee drifted further lower following weaker Chinese Yuan and foreign fund selling amid risk-averse sentiments. The dollar has been stabilising versus the major currencies but strengthening against the Asian currencies. The Fed has remained quite hawkish in recent commentaries which are offering a good floor to the dollar," said Dilip Parmar, Research Analyst, HDFC Securities.
SpiceJet offers option to lock fare with 'SpiceLock'
The fare locking service enables customers to reserve bookings so that the selected flight doesn't sell out and the fare doesn't go up while they finalise their travel plans. The service can be availed with or without a name, making it extra safe and convenient. Passengers flying on both domestic and international flights operated by SpiceJet can now enjoy this service with assured seat and price protection.
India Inc to log PAT growth of 17% CAGR for FY22-24: Motilal Oswal
In a research report on Indian corporate sector decadal earnings 2012-22, Motilal Oswal said: "We estimate an FY22-24 PAT CAGR of 17 per cent, led by banking, financial services and insurance (BFSI) and automobiles." The decade 2012-2022 saw India Inc's earnings multiply 2.6 times and reported a compounded annual growth rate (CAGR) of about 10 per cent, said Motilal Oswal.
Google slashes R&D projects as Pichai to make company 20% more efficient
Addressing the gathering at the Code Conference in the US, Pichai said that the more the company tries to understand the macroeconomic conditions, it feels very uncertain about it. "The macroeconomic performance is correlated to ad spend, consumer spend and so on," he told the audience. .
Tesla, Musk sued for misleading consumers over Autopilot, FSD claims
"Plaintiff brings this consumer class action lawsuit to hold Tesla and its representatives, including CEO Elon Musk, accountable for years of making misleading and deceptive statements regarding the company's advanced driver assistance systems (ADAS) technology," read the lawsuit that was filed in the federal court in San Francisco.
India's trade deficit widens 139% to $27.98 bn in August
Imports rose by 37.28 per cent on year-on-year basis, thus widening the trade deficit. Meanwhile the country's overall exports (including merchandise and services) in August 2022 stood at $57.47 billion, showing a growth of 6.75 per cent over the corresponding period.
Have lined up new investments of Rs 25K cr in Odisha, says Anil Agarwal
"We (Vedanta) stand testimony to what is possible if you Make in Odisha. It is amongst the most favourable investment destinations in India, ably led by the stable governance, leadership, and vision of Naveen Patnaik ji, which is reflected in the state's Ease of Doing Business rankings," he said in a statement.
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