BUSINESS
NSE fraud: Anticipatory bail plea of Chitra Ramakrishna dismissed
On February 24, the CBI arrested Anand Subramanian, the ex-Group Operating Officer of NSE. He was later sent to CBI's custody till March 6. The Central Bureau of Investigation (CBI) probing the NSE fraud has been making efforts to find fresh clues to reach the mysterious Himalayan Yogi, with whom the classified informations were shared by Ramakrishna.
Telecom industry to witness healthy revenue growth in FY23
Tariff hikes as well as continued increase in data usage is expected to accelerate telecom industry's revenue growth in FY23. The sector has been saddled with debt due to complications such as the 'Adjusted Gross Revenue' (AGR) case verdict, which brought in a huge immediate liability on the books of telecom operators.
War effect: Commodity prices to keep Rupee weak
High commodity prices as well as outflow of foreign funds from equity markets are expected to subdue the Indian rupee further. Rising prices of crude oil along with other commodities triggered by Russia-Ukraine war will keep the rupee weak. However, interventions by the Reserve Bank might cap the downside to rupee against the USD.
Jio World Centre: Know all about India's largest convention centre
The aim of the company behind building up this world-class center is to celebrate the vibrant culture of India, share business ideas and celebrate the rich heritage of our country. The Jio World Centre will include a cultural experience, retail, entertainment, and dining facilities in Bandra Kurla Complex. Envisioned by Nita Ambani, It will be a place where people will come together to script the next chapter of India's growth story.
Mega IPO of LIC deferred to FY 2022-23: Report
“Bankers and officials are preparing to shift the listing of the state-owned insurer to after the current fiscal year which ends in March,” TOI reports. The reason behind the delay is the ongoing crisis in Russia which has sent the global markets in red amid soaring prices of crude and food as well as worries about inflation.
India's FY23 footwear industry growth expected between 8-to-10%
India's footwear industry is expected to reach the pre-pandemic levels with a revenue growth of 8-to-10 per cent year-on-year in FY23. However, domestic footwear players are likely to witness a muted performance in FY22 compared to pre-pandemic levels with reversion to pre-Covid levels expected by Q2FY23.
Fueling Inflation: Petrol, diesel prices set to rise as Crude to range around $95-125
Hostilities between Russia and Ukraine, along with sustained demand, is expected to keep global crude oil prices in the range of $95-to-$125 per barrel in the short term. Consequently, the geo-political crisis-led global hike in crude oil prices is expected to push India's domestic prices of petrol and diesel by Rs 15-22 per litre.
Booster dose: India's pharma sector to grow at 6-8% YoY in FY23
India's pharmaceuticals market (IPM) is expected to grow between 6 and 8 per cent on a year-on-year (YoY) basis in FY23. Accordingly, the growth has been capped due to high base effect and inventory stocking in FY21 on account of Covid-19-led disruption in supplies of key starting materials.
India's forex reserves down by $1.4 bn to over $631 bn
India's foreign exchange reserves declined by $1.425 billion during the week ended February 25.The Reserve Bank of India's forex reserves decreased to $631.527 billion from $632.952 billion reported for February 18. The country's forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF.
RIL opens state-of-the-art Jio World Centre in Mumbai
Reliance Industries Ltd (RIL) on Thursday inaugurated India's largest and multi-faceted destination, the 'Jio World Centre', spread over 18.5 acres at the prime Bandra Kurla Complex. Envisioned by RIL Director Nita Ambani, the complex was launched by dedicating the 'Dhirubhai Ambani Square' and a musical 'Fountain of Joy', besides the country's biggest Jio World Convention Centre.
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