BUSINESS
Indian equities settle low, MPC outcome in focus
Sensex settled at 59,034.95 points, down 575.46 points or 0.97 per cent, whereas Nifty at 17,639.55 points, down 168.10 points or 0.94 per cent. For fresh cues, the outcome of the Reserve Bank of India's upcoming Monetary Committee Policy (MPC) meeting, which is expected to be revealed on Friday morning, would be eyed by the investors.
Indian digital consumers become more protective about personal data
The trend has been captured in the backdrop of the post-pandemic era, which has increasingly seen a rise in digital consumption across segments including grocery, fashion, health and beauty, consumer electronics travel, sports and fitness, crafts and creative and alcoholic beverages. "Seventy-five per cent of the Indian consumers (59 per cent globally) are evolved and are more aware and protective of their personal data," said Somick Goswami, Partner at PwC during the India D2C (direct-to-consumer) summit here.
Righteous GST implementation to bolster online skill gaming sector in India
India's share is currently at 1-2 per cent of the global gaming market with a market size of $1.8 billion of which Real-Money gaming has the largest constituent of revenue pool driven by higher user paying propensity (around 20 per cent of total market size). The total number of users of gaming services are close to 433 million and is expected to touch 650 million by 2025. However, apart from fine-tuning the regulatory mechanism, there's an urgent need to look at the GST levied on the sector.
ICICI Securities gives 'buy' call for Indian Hotels, Lemon Tree
Due to Covid waves in 2020 and 2021 globally and across India, the hospitality industry has seen a lot of volatility in terms of occupancies and room rates over the last two years. Heading into FY23, the beleaguered hospitality sector, which has borne the brunt of multiple Covid waves impacting business, is seeing a confluence of positives with leisure demand remaining strong and business travel set to see a strong leg up with reopening of offices.
Coca-Cola to set up Rs 1,000 Cr plant in Telangana
The company will invest Rs 600 crore in the plant in the first phase and another Rs 400 crore in the subsequent phases to take the total investment to Rs 1,000 crore in the next five years, said Telangana's minister for industries K.T. Rama Rao at an event with the company leadership. HCCB CEO Neeraj Garg, Chief Commercial Officer, Bottling Investment Group, Juan Pablo Rodriguez Trovato, Principal Secretary, industries and commerce, government of Telangana, Jayesh Ranjan were present.
Equity recovers despite Ukraine crisis but rising crude biggest external risk: Motilal Oswal
Benchmark indices gained sharply in March after a drop in February. Benchmark Sensex and Nifty rose over 10 per cent in the past one-month period, data showed. To put things in context, the Russia-Ukraine crisis has exacerbated the macro backdrop and caused commotion in global equity, bond and commodity markets with sharply elevated volatility.
Uber to add train, bus, flight bookings in UK
Uber will not provide these travel services itself, it will allow users to book them through its app following software integrations with platforms that sell tickets. The tech giant, which may take a cut on each booking, said it plans to announce various partners in the coming months. Uber said the integrations will help to boost app usage among its users in the UK, who also have the choice of using apps like Bolt and Free Now.
Ashneer hits out at BharatPe board members for 'snatching keys'
Ashneer, also a popular judge on the reality show Shark Tank India, has accused BharatPe CEO Sameer of siding with the investors to remove him from the company. After reports surfaced that government regulators may expand their probe into BharatPe's financial books after the Ashneer-Madhuri Grover saga, the fintech platform said last month it will fully comply with the law of the land.
Markets open on a negative note
The Sensex of the BSE opened at 59,402.61 which was also the high point. The Sensex touched a low of 59,255.87 points. On Wednesday, the Sensex closed at 59,610.41 points. The Sensex is trading at 59,280.78 down by 329.63 points or 0.55 per cent. The Nifty is trading at 17,730.40 points in the morning.
Italy slashes GDP growth estimates for 2022, 2023
The country's economy is expected to grow 3.1 per cent in 2022, compared to 4.7 per cent based on previous estimate, according to a press briefing from Italian Prime Minister Mario Draghi, and Economy and Finance Minister Daniele Franco. For 2023, the government expects a growth rate of 2.4 per cent, down from a previous target of 2.8 per cent, Xinhua news agency reported.
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