BUSINESS
Shares of HDFC twins on a downtrend since announcement of merger
The shares of the two HDFC companies declined 17 per cent and 18 per cent, respectively, since the news of the merger, data showed. Housing loan major Housing Development Finance Corporation (HDFC) on April 4 said its Board had approved the merger of its wholly-owned subsidiaries HDFC Investments and HDFC Holdings with HDFC Bank.
India's policy challenges to hinder net-zero progress, putting onus on private cos: Moody's
The country's significant economic development needs will present constraints to the government's ability to extend sufficient financial support to fund its carbon transition. "The country's high growth potential, significant economic development needs and large agricultural sector will likely weaken the government's policy resolve and financial capacity to drive the economy's carbon transition," said Nishad Majmudar," Moody's Assistant Vice President and Analyst.
Public Cloud spending in India to touch $7.5 bn this year
Cloud system infrastructure services (IaaS) is forecast to record the highest growth this year (39.4 per cent), followed by cloud application infrastructure services (PaaS). IaaS will also be the highest spending vertical for end-users in India in 2022. "Driven by maturation of core cloud services, the focus of differentiation is gradually shifting to capabilities that can disrupt digital businesses and operations in enterprises directly," said Sid Nag, research vice president at Gartner.
Geo-political conditions dim prospects for Samsung stock in near future
Shares of Samsung, the world's largest memory chip and smartphone maker, have tanked this year, even though the tech giant is likely to report its best first-quarter earnings in four years later this month, on the back of solid chip and mobile demand.
OMCs might require to further raise fuel prices: Fitch Ratings
Notably, the November 2021-March 2022 was one of the longest retail price freezes in recent years, despite reference crude oil prices increasing by nearly $27 per barrel (or Rs 13 per litre) during the period. NThe freeze may lead to marketing losses for the oil marketing companies (OMCs) in the fourth quarter of the financial year ending March 2022 (FY22).
Twitter's board salary will be $0 if my bid succeeds: Musk
"Board salary will be $0 if my bid succeeds, so that's $3 million/year saved right there," Musk tweeted on Monday. He also tweeted "Love Me Tender", an Elvis Presley song, after Twitter adopted 'poison pill' strategy to prevent Musk from forcefully buying it.
Indian private sector to drive carbon transition: Moody's
According to Moody's, many large corporations have launched a wide range of emission targets through 2050. "India's (Baa3 stable) 2070 net-zero target and intermediate goals through 2030 present significant policy implementation challenges for the government, carving a more central role for private companies and investors to drive the transition, according to a new report by Moody's.
Equity indices largely steady in early trade after a storm
At 9.30 a.m., Sensex was at 57,195 points, up 0.05 per cent, whereas Nifty was at 17,212 points, up 0.2 per cent. On Monday, both the indices declined 2 per cent each. A rise in inflation as well as a fresh spike in global crude oil prices seemed to have dented investors' sentiment.
SC directs banks not to impose penalty on EMI default by Amrapali home buyers
A bench of Justices U.U. Lalit and Bela M. Trivedi said the accounts of defaulter flat buyers, who had availed the subvention facilities, should not be treated as Non-Performing Asset (NPA) accounts, and also their CIBIL score should not be maintained at zero level.
Delhi HC rejects Snapdeal's injunction against domain names with its trademark
As per Snapdeal's allegations, these domain names are infringing in nature, as the plaintiff is the registered proprietor of the "SNAPDEAL" trade mark. It is also alleged that such third parties are, through the websites operating under the said domain names, carrying out illegal activities, such as providing lucky draws etc. and are also, in certain cases, posing as customer care centres for the plaintiff's products.
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