BUSINESS
$100 Billion Club: India’s Gautam Adani joins ranks with Elon Musk and Warren Buffett
Adani joined this elite club which includes Tesla CEO Elon Musk, Jeff Bezos founder of Amazon and other 7 billionaires. Gautam Adani has also become the richest person in Asia, surpassing Reliance Industries’ chairman Mukesh Ambani. Indian businessman Adani and French businessman Bernard Arnault- chairman of luxury goods group (LVMHF) are the only non-Americans in the centibillionaires club.
Global market for nuclear missiles, bombs to witness 73% spike by 2030: Report
The global market for nuclear missiles and bombs is expected to surpass $126 billion by 2030. The world is witnessing an increase in military spending as a result of the ongoing Russian Ukraine war, according to the report. South Asian countries may surpass the west in boosting their nuclear arsenals, the report claimed.
Profit booking subdues equity, MPC meeting in focus for fresh cues
Sensex closed 0.7 per cent or 435 points down at 60,177, whereas Nifty dipped 0.5 per cent or 96 points down to 17,957. For the near-term, the outcome of the Reserve Bank of India's upcoming monetary policy meeting starting Wednesday would be the major factors that will dictate the market outlook.
Zomato shares decline as CCI probes alleged unfair business practices
The two online food delivery platforms are allegedly involved in delayed payment cycles and exorbitant commissions. Shares of food-aggregator Zomato declined on Tuesday after the Competition Commission of India ordered a thorough investigation into the conduct of online food delivery platforms Zomato and Swiggy.
India's robust plans on Electric Vehicles to ensure cleaner environment
Keeping in mind the goals set under the Paris agreement, the increasing number of automobile customers shall not imply an increase in the consumption of conventional fuels. The Indian government is religiously pushing the introduction of Electric Vehicles (EV) and this would not only reduce India's oil import bills in the longer term but also ensure a cleaner environment.
USD reaches over 300 against SL rupee for first time
US Dollar on Tuesday reached over 300 against Sri Lankan Rupee LKR for the first time as reported by country's banks. The island nation is facing a severe economic crisis with the shortage of foreign exchange. Economists said this was the first time in Sri Lankan history that the US dollar hit the 300 mark against the LKR.
World Bank projects East Asia Pacific to grow 5% in 2022
The World Bank has projected the East Asia Pacific growth to increase by 5 percent in 2022 amid the resurgence of Covid-19 pandemic, tighter financial conditions and the Russia-Ukraine war, the World Bank said. The region's largely strong fundamentals and sound policies should help it weather these storms.
Equity indices decline marginally on profit booking
At 9.51 a.m. on Tuesday, Sensex was 0.3 per cent or 208 points down at 60,404 points, whereas Nifty 0.3 per cent or 52 points down at 18,001 points. This came after a sharp rise in indices on Monday led by the announcement of the merger of HDFC twins.
Pakistan rupee depreciates more than 3% in March alone, forex reserves at the lowest level since 2020
In July last year-the beginning of the Pakistani financial year, the country's currency was pegged at around 158 to the US dollar. A depreciation of the currency would mean that the country's import bill will rise, especially at a time when global crude prices have surged following the Russia-Ukraine conflict.
Among Tata cos, M-cap of Tata Steel, Tata Elxsi, Indian Hotels, Trent zoomed in Q1CY22
Commonly referred to as M-cap, market capitalisation is the aggregate value of a company based on its current share price and the total number of outstanding stocks. It is calculated by multiplying the current market price of the company's share with its total outstanding shares. As per the data, Tata Steel and Tata Elxsi's market capitalisation rose 17.6 percent and 50.7 per cent to Rs 1,59,626 crore and Rs 55,013 crore during the period under review, respectively.
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