BUSINESS
Spice Money ties up with Religare Broking for rural populace to apply for LIC shares
The life insurance giant is coming out with a premium initial public offering (IPO). Spice Money offers essential digital financial and e-retail services such as cash deposit and Aadhaar led withdrawals, mini ATM services, bill payments and recharge, money transfers, loans, tours and travel and more to the rural citizens through Spice Money Adhikari App.
Biocon Q4 results: Consolidated revenue growth recorded at Rs 2,476 Cr, up by 21%
During the year-ago period, the Bengaluru-based biopharma giant reported a net profit of Rs 253 crore on revenue of Rs 2,048 crore. The company recorded a decline of 6 per cent compared to Q4 of last year and 12 per cent decline in comparison with the financial year 2021. The 2021 net profit stood at Rs 740 crore. The figures for 2022 stood at Rs 648 crore, as per the official statement.
Equities tad up in early trade, analysts see volatility going ahead
At 9.46 a.m., Sensex was 0.3 per cent up at 57,668 points, whereas Nifty was 0.1 per cent up at 17,263 points. Even though the indices are in the green, analysts expect volatility to continue in Dalal Street.
Supply chain, exchange rate, higher staff, fuel costs, Ukraine add up to hurt Amazon stock
Shares fell 12 per cent on Thursday in after-hours on the back of higher costs to run the company's warehouses and deliver packages to customers. After a surge during the Covid-19 pandemic, the e-commerce giant saw expenses swelling as it offered higher pay to attract workers. A fulfillment centre in New York City voted to create Amazon's first US union, a result Amazon is contesting.
Domestic investors about to pip FPIs in holdings first time since 2010: Morgan Stanley
With share owners remaining marginal setters of price with their persistent bid, domestic investors are about to become larger holders of Indian equities than FPIs for the first time since 2010. This shift in holdings persisted for the March quarter 2022, it said. Average sector positions went a tad higher in the latest quarter after multiple quarters of decline.
'Asia's oil demand revival bears brunt of China's endless lockdowns'
"Asian oil demand growth is expected to slow in 2022 as China's demand has been hit by a resurgence of Covid-19, with lockdown measures imposed across many major cities," said Lim Jit Yang, advisor for Asia-Pacific oil markets at S&P Global Commodity Insights. Based on the latest April outlook, China's growth will be flat this year, after growing by 550,000 barrels per day in 2021.
Musk wins $13 bn suit over Solar City deal
According to TechCrunch, seeking as much as $13 billion in damages, the shareholders alleged that Tesla's $2.6 billion, all-stock SolarCity deal amounted to "rescue from financial distress, a bailout, orchestrated by Elon Musk," as per a January statement from the plaintiff's attorney, Randy Baron.
MSMEs to get subsidies to adopt 'zero defect zero effect' practices
Through the journey of ZED certification, MSMEs can reduce wastage substantially, increase productivity, enhance environmental consciousness, save energy, optimally use natural resources, and expand their markets. Under the scheme, MSMEs will get subsidies as per the cost of ZED certification: micro enterprises at 80 per cent, small enterprises at 60 per cent, and medium enterprises at 50 per cent, respectively, a statement said.
Equities keep early gains intact, settle in green
On Thursday, Sensex settled at 57,521 points, up 702 points or 1.2 per cent, whereas Nifty was at 17,245 points, up 207 points or 1.2 per cent. Even though the indices were in the green, analysts expect volatility to continue in Dalal Street.
CAIT welcomes CCI's raid on Amazon's seller Cloudtail, Apario
Since past three years, the CAIT has been raising strong objections against alleged mal-practices of Amazon and Flipkart and filed complaints with CCI beside strongly fighting delaying tactics of Amazon and Flipkart in various courts as well. Khandelwal, in a statement said that role of Narayan Murthy should also be investigated while conducting raid.
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