BUSINESS
Sitharaman to reply on discussion on J&K budget in RS today
Union Finance Minister Nirmala Sitharaman is likely to reply to the discussion on the budget of 'Union Territory of Jammu and Kashmir for 2022-23' in Rajya Sabha on Wednesday. The Finance Minister on Tuesday tabled the budget of Jammu and Kashmir for next financial year, 'The Jammu and Kashmir Appropriation Bill, 2022' and 'The Jammu and Kashmir Appropriation (No.2) Bill, 2022' for consideration in the Upper House of Parliament.
Petrol, diesel prices raised again for 2nd consecutive day
These prices were revised for the very first time on Tuesday after a gap of more than 4-months. Accordingly, the increase in selling price which includes state levies, central excise and cess amongst others came days after crude oil prices saw astronomical rise due to the Russian-Ukrainian crisis. In New Delhi, the price of petrol and diesel were increased again by 80 paise per litre.
Equity indices extend gains; Sensex up over 200 pts
At 9.55 a.m., Sensex was 0.4 per cent or 216 points up at 58,206 points, whereas Nifty 0.5 per cent or 61 points up at 17,377 points. "There are two significant trends in the market now. One, 17000 Nifty has now become a strong technical support for the market. The sharp bounce from the 17,000 levels yesterday indicates that this is a strong support level now," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
NewSpace India to open price bids for industries making PSLV rocket next month
"The techno-commercial evaluation is on the verge of conclusion. Once that is done, the price bids submitted by the three industry consortiums will be opened," an NSIL official, not wanting to be identified, told IANS. The NSIL has the mandate of building, and launching rockets and satellites through industry partners and also providing space-based services through remote sensing and communication satellites.
Japan's parliament enacts record $900bn budget for FY22
The allocation for spending on social security, which comprises a third of total spending, as Japan's society continues to rapidly age and simultaneously shrink, is the largest-ever at 36.27 trillion yen and compares to 35.83 trillion yen in the previous year. Defence-related spending, meanwhile, also marked a new record at 5.40 trillion yen, as Japan aims to ramp up spending on new technologies.
Erasing opening session losses, Sensex, Nifty settle over 1% high
Sensex settled 1.2 per cent or 697 points up at 57,989 points, whereas Nifty 1.2 per cent or 198 points up at 17,315 points. "The domestic market started with a negative bias taking cues from rising crude prices and hawkish signals from Fed on aggressive policy tightening," said Vinod Nair, Head of Research at Geojit Financial Services.
Price Rise: Non-subsidised LPG cylinder gets costlier
In Delhi, the 14.2-kg non-subsidized cylinder will now cost Rs 949.50. Besides, the price in Kolkata rose to Rs 976 per cylinder, while that in Chennai and Mumbai stood at Rs 965.50 and Rs 949.50 per cylinder. Accordingly, this is the first hike since October 6, 2021. The increase in selling price came days after an astronomical rise in crude oil prices due to the Russia-Ukraine war.
'Will list it early': SC on Amazon's plea against transfer of Future Retail assets
A bench headed by Chief Justice N.V. Ramana told senior advocate Gopal Subramanium, representing Amazon, that one of the judges, Justice Hima Kohli, was not available, therefore the matter could not be taken up on the date scheduled for hearing. The Chief Justice said: "We have some difficulties in constituting the bench. My sister (Justice Hima Kohli) has some problems". "That is the reason... at least one partner (judge) should be there."
Ruchi Soya's Rs 4,300 crore follow-on public offer to open on March 24
The shares of Ruchi Soya dropped 10 percent on Monday after company fixed the price band at 35 percent discount on the closing price on last Thursday. The Monday’s closing price is INR 910 and hence the follow-on offer is seen as a discount. The company further said that the minimum bid in the follow-on offer will be for 21 shares.
India's banks unprepared for climate challenges: Report
India's big banks score poorly on climate challenge", ranks 34 biggest banks in the country against a range of criteria and most banks have not even begun to factor climate change into their business strategies. The analysis comes on the heels of the IPCC report on impacts, adaptation and vulnerability which warned that India faces serious economic threats from sea-level rise and riverine flooding, reduced labor capacity due to intolerable heat, drop in crop and fishproduction and water.
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