BUSINESS
Bitcoin swindlers targeting iPhone, Android users via romance apps
The international cryptocurrency trading scam called CryptoRom, unearthed by cyber-security firm Sophos, has become well-organised and targets victims all over the world. In one case, a victim was charged $625,000 to regain access to the $1 million he had invested in a fake crypto-trading scheme, recommended by someone he had met on an online dating platform.
PVR, INOX Leisure shares surge on merger announcement
At 1.28 p.m. on Monday, the shares of PVR traded at Rs 1,875, up 3 per cent, whereas INOX Leisure at Rs 519, up over 10 per cent. As per reports, the shares of the two companies surged as much as 10 per cent and 20 per cent, respectively, in the opening session on Monday. Film exhibition majors, PVR and INOX Leisure on Sunday announced merger and their Boards approved an all stock amalgamation of INOX with PVR.
Oil prices fall as China imposes largest lockdown in Shanghai
While Brent crude lost more than $3 a barrel on concerns that the move would mean that demand for oil will fall, the Shanghai Composite stock index fell in early trade before regaining most of the losses later in the morning. Until now, Chinese authorities had resisted locking down the city of almost 25 million people to avoid destabilising the world's second largest economy.
Adani Group picks Google Cloud to boost digital transformation
"The inevitability and pace of cloud adoption mandates that every business redefine its business model. This provides new challenges and new opportunities that will not only be transformational but will also require new forms of industry collaboration, said Gautam Adani, Chairman, Adani Group.
Indian equities extend losses; Sensex down over 300 pts
India's key equity indices -- Sensex and Nifty -- extended their losses from the previous week to trade lower in early trade on Monday. At 9.54 a.m., Sensex was 0.6 per cent or 318 points down at 57,044 points, whereas Nifty was 0.5 per cent or 92 points down at 17,061 points. Among the stocks, UPL, HDFC, HDFC Bank, Dr Reddy's, and Kotak Mahindra Bank were the top five losers among the Nifty 50 companies, while Bajaj Auto, Cipla, Bharti Airtel, ONGC, and Hindalco were the top five gainers, NSE data showed.
Post Pandemic: International ops to give wings to India's aviation industry
The reinstatement of regular international flight operations is expected to boost the pandemic battered civil aviation industry in India. On Sunday, scheduled commercial international passenger services to and from India were restarted. The Centre has allowed over 3,200 flights per week from India during this year's summer schedule which commenced on Sunday.
PVR and INOX Leisure announce merger
Film exhibition majors PVR and INOX Leisure on Sunday announced merger. Accordingly, the Board of PVR and the Board of INOX Leisure at their respective meetings approved an all stock amalgamation of INOX with PVR. "Upon obtaining all approvals, when the merger becomes effective, INOX will merge with PVR."
Banks on 2-day strike from Monday
The banks will observe a nationwide strike on Monday (March 28) and Tuesday (March 29) to protest against the Banking Laws (Amendment) Bill, 2021, and oppose the privatisation of public sector banks. The decision to go on a strike was taken by a joint forum of central trade unions. The All India Bank Employees Association had on Saturday announced that it would observe two day's strike to oppose the move of the Central government.
SpiceJet launches 7 new flights under UDAN including Gorakhpur-Varanasi
Under the regional connectivity scheme UDAN, SpiceJet on Sunday launched seven flights. The airline launched the Gorakhpur-Varanasi flight, which was inaugurated by Union Minister of Civil Aviation Jyotiraditya Scindia and Uttar Pradesh Chief Minister Yogi Adityanath. Both Gorakhpur and Varanasi are popular religious and tourist destinations in Uttar Pradesh. The airline will be deploying its Boeing 737 and Q400 aircraft on these routes.
IPO fundraising at highest ever in 2021-22
The 2021-22 IPO amount was over 3.5 times Rs 31,268 crore raised through 30 IPOs in 2020-21. The previous best year was 2017-18 in which Rs 81,553 crore was raised. IPOs from new age loss-making technology startups, strong retail participation and huge listing gains were the other key highlights of 2021-22.Overall public equity fundraising, however, dropped to Rs 1.70 lakh crore from Rs 1.90 lakh crore in the preceding year.
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