BUSINESS
Direct air connectivity with Dhaka set to boost medical tourism in Hyderabad
Apart from boosting tourism and leisure travel between Bangladesh and Telangana, the direct flights are expected to give a fillip to medical travel to Hyderabad. The IndiGo Flight 6E 1931 will depart from GMR Hyderabad International Airport at 12.45 p.m. The return IndiGo Flight 6E 1932 from Dhaka will arrive in Hyderabad at 6.50 p.m. The two hours forty-five minutes flight will operate between GMR Hyderabad International Airport and Dhaka twice a week - Saturday and Monday.
Tata Power shares down over 5% on profit booking; Co's arm raises Rs 4k cr
Analysts attribute Monday's decline to profit booking. At 2.16 p.m., the shares traded 5.6 per cent down at Rs 257.65.The first round of capital infusion is expected to be completed by June 2022 and the balance funds will be infused by the end of calendar year 2022. The proposed investment is expected to fund Tata Power Renewables' aggressive growth plans.
Sri Lanka to take steps to stabilise economy
Siriwardana made the remarks as the Sri Lankan government sent a delegation to the International Monetary Fund (IMF) to seek assistance. Figures show that around 125 billion Sri Lankan rupees ($384 million) of banknotes were printed in April and the government expenditure has also increased despite escalating foreign exchange shortages, Xinhua news agency reported.
Growth opportunities will result Indian renewable companies highly leveraged: S&P Global Ratings
In its new report "India Renewables: Growth Trumps Deleveraging" S&P Global Ratings said the multi-decade growth opportunities for renewable energy in India will result in persistently high leverage across the sector. "Weaker operating performance, delayed receivables collections and high capital expenditure will weigh on credit profiles for Indian renewables," said S&P Global Ratings analyst Abhishek Dangra.
Swiggy, Zomato invest in restaurant management platform UrbanPiper
The platform aims to use the funds to scale its product and engineering teams and looks to expand to more than 200,000 restaurant locations globally in the next two years. "With this investment, we will continue to widen UrbanPipera's offerings to meet many more digital opportunities in the restaurant ecosystem, along with bolstering our platform capabilities," said Saurabh Gupta, CEO, UrbanPiper.
Indices fall sharply in early trade, Sensex declines nearly 1K pts
Consumer Price Index or retail inflation rose steeply in March to 6.95 per cent, which was above Reserve Bank of India's upper tolerance band of 6 per cent for three consecutive months. At 9.36 a.m., Sensex was at 57,368 points, down 970 points or 1.66 per cent, whereas Nifty at 17,220 points, down 256 points or 1.46 per cent.
Sequoia Capital India to take tough action against frauds at Indian startups
One of the biggest investors in the Indian and Southeast Asia startup ecosystem, it said that recently, some portfolio founders have been under investigation for potential fraudulent practices or poor governance. "These allegations are deeply disturbing. We have always strongly encouraged founders to play the long game. We focus on the enduring, and discourage focussing on vanity metrics. Despite that we find some counter-examples of what we espouse," the VC said in a blog post.
Price Woes: Sustained inflationary pressure to dent equities
Besides, the underwhelming corporate results till now along with the recent rise in global crude oil prices and a weak rupee are expected to support this trend. "Sustained high inflation and tightening monetary policy globally are bringing caution among the participants," said Deepak Jasani, Head of Retail Research, HDFC Securities.
Presence of PM Modi at Bengal business summit uncertain
A state government official told IANS that nothing final has been confirmed by the Prime Minister's Office to the state secretariat on this count as on date. As per Press Information Bureau (PIB)'s official tour information of the Prime Minister, he is slated to be in his home state Gujarat from April 18 to April 20. "However, we are still hoping that the Prime Minister might attend the meeting on April 20 morning coming from Gujarat," the official Said.
Tender issued for India's first standalone RE storage system
It is a first of its kind tender in the country in such a category which is aimed to provide power distribution companies with storage facilities to be used on an "on-demand" basis. This tender marks the first tranche of the government's immediate target of setting up 4,000 MWh of battery storage capacity as part of achieving increased penetration of renewable energu in the national grid.
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