BUSINESS
Snapping 5-day losing streak, indices up in opening session
In the past five sessions, the Sensex and Nifty declined almost 4 per cent. High inflation amid rising crude prices weighed on the investors sentiment in the past few sessions, said analysts.
Reliance Brands Ltd and Abu Jani Sandeep Khosla form a strategic partnership
The strategic partnership is aimed at accelerating the 35-year-old couture houses growth plans in India and across the globe. Abu Jani and Sandeep Khosla will continue to lead the design and creative direction of the brand. Abu Jani and Sandeep Khosla are India's premier couturiers their design legacy began in 1986. Based in Mumbai, their couture label Abu Jani Sandeep Khosla is internationally feted, for its quality and elegance.
IMF cuts India's 2022 growth prospects
The fund had earlier projected 9.5 per cent growth for the Indian economy in 2022. It slashed it by 0.5 percentage points in its January report and it has further reduced it now by 0.8 point. The fund has also cut its projection for 2023 by 0.2 point to 6.9 per cent.
Financial stability risks risen amid Russia-Ukraine conflict: IMF
"Global financial conditions have tightened notably" and downside risks to the economic outlook have increased as a result of the Russian-Ukraine war, according to the newly released Global Financial Stability Report (GFSR). The tightening has been "particularly pronounced" in eastern Europe and Middle East countries with close ties to Russia, reflecting lower equity valuations and higher funding costs, the IMF report was quoted as saying by Xinhua news agency.
Sunflag up 73% in April; Co says scrip movement market-driven
Upon seeing such a sharp rally in prices, the stock exchanges have sought clarification from the company. In reply, Sunflag said the company has been in compliance with all the SEBI rules and has made all the necessary disclosures before the stock exchanges as per the provisions of the listing regulations.
Industry safeguarded by rules and regulations, says Association of Direct Selling Entities of India
As per industry estimates, the direct selling industry in India is providing enormous opportunities for women's empowerment and growth of the MSME sector. The sector has also been instrumental in providing employment to nearly 12.2 crore people, who lost their jobs during the pandemic-impacted period. It not only provides livelihood to many Indians, but also helps bridge the gender divide and provides skilling opportunities to millions of women and youth.
Equity indices in red for fifth day in a row; high inflation weighs
Sensex settled at 56,463 points, down 704 points or 1.23 per cent, while Nifty settled at 16,959 points, down 215 points or 1.25 per cent, form their previous close. Stocks in the IT, financial and consumer goods space declined and dragged the indices. The indices opened on a positive note to later decline sharply, thereby closing the day in the red.
Pakistan braces for worst diesel shortage next month
The prime minister was also informed that there would be no protests if the oil prices were increased. However, protests would start if diesel was not available in the market due to poor financial health of the oil industry on account of rising price differential claims. The interesting thing was that there was no approval from the government to clear the price differential claims of the oil industry.
Prakriti E-mobility secures investment from Europe's IEG as part of $5 million Pre-Series A round
Founded in 2019 by Nimish Trivedi, Rajeev Tiwari and Vikas Bansal, Prakriti E-mobility is an asset-light EV cab service provider across B2C and B2B segments With this investment, the company plans on implementing technological advancements, expansion of EV fleet and empaneling EV charging stations into its mobile application across India.
Banas dairy project progress is good move towards 'local to global': Modi
While addressing around one lakh people, the Prime Minister said: "This is probably the first time that I am being blessed by around 2 lakh mothers and sisters. During the 1 to 2 hours that I spent in the plant, I got to meet agro producers and plant officials and was very impressed by their work. The Banas dairy plant is the best example of women empowerment".
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