BUSINESS
BYJU's gets clean FY21 audit from Deloitte after 17 months delay
An 'unqualified' report means that the financial statements of a company are fair and transparent based on thorough research, putting to rest all speculations about BYJU's poor financial health. People privy to the development told IANS that the edtech firm will hold a board meeting in a day or two, before making the audited financial results for FY21 public next week, in all likelihood on September 6.
Reliance Jio to roll out 5G services by Diwali: Mukesh Ambani
To begin with, Jio announced the launch of 5G services in four metro cities -- Delhi, Mumbai, Kolkata and Chennai. These will be expanded to other cities and towns in phases rapidly to cover the entire country by December 2023. At the 'Reliance AGM 2022', Mukesh Ambani said it will be 'world's largest', 'standalone' Jio 5G services.
The good, bad and ugly of the Rupee hitting an all time low against the Dollar
Indian National Rupee (INR) has not been in news for the right reasons so far this year. It has been dragged down by the perfect storm of international pressures and geopolitical headwinds. While rising inflation, tightening monetary policy, and climbing crude oil prices have made the current fiscal a difficult one for the INR, the Russia-Ukraine war sparked a near-freefall, with the Rupee having lost nearly 7 per cent in value since Russia's invasion on February 24.
Indices erase early trading losses, but still trading lower
Sensex was trading 835.72 points or 1.42 per cent down at 57,958.15 and Nifty was trading 250.30 points or 1.43 per cent down at 17,308.60. HCL Technologies, Infosys and Tech Mahindra were trading down more than 3.5 per cent on the BSE. On Friday, Federal Reserve Chair Jerome Powell signalled the US central bank is likely to keep hiking interest rates and keep them elevated to tame inflation.
Delhi court denies bail to Chitra Ramkrishna in NSE co-location scam case
On August 25, CBI Special Judge Sunena Sharma of Rouse Avenue Court had reserved the order on the bail plea of Chitra Ramkrishna after hearing the arguments of the petitioner and the Enforcement Directorate (ED), which is probing the case.
Akasa Air issues apology after data breach, says no intentional hacking attempt
The Akasa Air airline apologised for the data breach, saying there was "no intentional hacking attempt" to break into its systems. The airline said in a message posted on its website that a temporary technical configuration error related to our login and sign-up service was reported to us on Thursday August 25, 2022".
Rupee falls to record low against US dollar
At 11 a.m., the rupee was trading at 80.04, as compared to 79.86 close on the previous trading session against the US dollar. The rupee weakened to a low of 80.14 per US dollar in the first few minutes of trade on Monday as the US dollar index strengthened well past the 109 mark.
September, historically, the worst month of the year for the US stock market
The Dow and S&P 500 and fell sharply in September last year and in 2020, even though the broader market rallied in both years. That doesn't mean stocks are doomed to finish this September in the red, of course. Stocks rallied in each of the three Septembers prior to the pandemic. But here's another potentially ominous sign: This is a midterm election year. The Dow has fallen in 11 out of the last 18 pre-midterm Septembers going back to 1950, according to data from The Stock Trader's Almanac, CNN reported
Power Grid pitches for obsolete tech in smart electricity meters, can hamper 5G dream
The technology currently in focus is the latest platform and connectivity solution called Narrow Band Internet of Things (NB-IoT) that can work with 4G and 5G networks. Tata Power Delhi Distribution, which supplies electricity in north and north-west Delhi, already uses NB-IoT in smart meters that collect and track the electricity consumption of a unit or a system that they are connected to.
Financial Bids for Reliance Capital to be submitted on Monday
The bidders will submit their final non binding indicative bids under two options. Under option 1, bidders can bid for Reliance Capital as a Core Investment Company (CIC), while the second option gives the bidders freedom to buy RCAP's different business clusters, either individually or in combination. Though the lenders are more keen to sell Reliance Capital as a company (CIC) than individual businesses separately.
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