BUSINESS
Shares of Bharat Dynamics doubled in 2022 over 'Atma Nirbhar' push
The shares price rose over 96 per cent in the year-to-date period of 2022, exchange data showed. The company, which is under the Defence Ministry, manufactures surface to air missiles, anti-tank guided missiles, torpedoes, and allied defence equipments. The Centre's 'Atmanirbhar' push on indigenous defence manufacturing likely to have supported the company's shares.
General insurers close FY22 with 11% growth
According to it, the general insurance industry had earned a total premium of Rs 220,634.73 crore as against Rs 198,714.72 crore earned during 2020-21. Within the overall figure, the standalone health insurers earned Rs 20,880.08 crore in FY22 up from Rs 15,755.18 crore in FY21.
Shares of Adani Group cos surge after $2 bn foreign investments
Adani Green Energy shares were locked in the 20 per cent upper circuit, Adani Transmission locked in at 10 per cent upper circuit, and Adani Enterprises rose 0.4 per cent. Analysts attribute the rise in share prices with International Holding Company PJSC (IHC), the Abu Dhabi-based conglomerate's investment of $2 billion as primary capital in these Adani Group companies.
Equity indices start new week in red; Q4 earnings in focus
Sensex settled at 58,964.57 points, down 482.61 points or 0.81 per cent, whereas Nifty rested at 17,674.95 points, down 109.40 points or 0.62 per cent. Among the sectoral indices, Nifty was the top loser, declining 1.41 per cent on Monday.
Sri Lanka facing worst economic crisis since gaining independence in 1948
Sri Lanka's problems come down to the fact that its foreign currency reserves have virtually run dry. It means the island nation cannot afford to pay for imports of staple foods and fuel, leading to acute shortages and very high prices. The government blames the pandemic, which all but killed off Sri Lanka's tourist trade, one of the island's biggest foreign currency earners
Goldman Sachs says 22% upside in RIL stock
RIL is adopting a manufacturing approach to net zero-emissions with a hyper integrated model spanning solar, battery and hydrogen and a focus on net zero supply chain (already spent $1.5 billion to acquire technologies across the solar, battery and hydrogen ecosystems).
World Bank projects Ukraine's economy to shrink by 45% in 2022
The war and the subsequent sanctions on Russia are hitting economies around the globe, with emerging markets and developing countries in the Europe and Central Asia region expected to bear the brunt, Xinhua news agency reported citing the newly-released World Bank's Economic Update for the region.
Indices fall in opening trade; Sensex decline over 400 pts
At 9.46 a.m., Sensex was 0.8 per cent 449 points down at 58,998 points, whereas Nifty 0.6 per cent or 112 points down at 17,672 points. For fresh cues, investors would eye inflation data and Q4 earnings of India Inc to be released soon. "Q4 results, particularly of leading financials, and guidance from IT majors will influence the market in the coming days," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Hawkish Stance: Global monetary policy tightening to subdue oil prices
Fears of inflationary pressures has led many central banks to tighten money supply. The trend will lead to higher interest rates and, in theory, should curb inflation. Besides, Brent crude oil prices have been steadily coming down due to rising supplies being pumped out by the US. Currently, the Brent crude oil prices are hovering in the range of $104-$110 in the last few weeks from the peak of $140 per barrel touched in early March.
Wheat could open new area of US-India cooperation, softening rift on Ukraine
Hints of the possibility of such a joint effort have come from Washington: President Joe Biden's spokesperson Jen Psaki has said that during the virtual summit with Prime Minister Narendra Mod on Monday they will consult on "mitigating its destabilising impact on global food supply and commodity markets".
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