BUSINESS
Nykaa hits fresh all-time low; shares down around 80% from peak
The beauty and wellness e-commerce company's shares fell around 80 per cent from its all-time high of Rs 2,573 in late November 2021. On Thursday, it settled at Rs 1,446 per share, down nearly four per cent from the previous close. So far in February, the shares declined around 18-20 per cent.
Nestle India's Q42021 net profits down 20%, revenue up 9%
During the entire calendar year, net profits, however, increased three per cent to Rs 2,144.8 crore, as compared to Rs 2,082.4 crore reported in 2020. Revenue from operations during the quarter stood at Rs 3,739.3 crore, a growth of 8.9 per cent as against Rs 3,432.5 crore reported in the year-ago quarter.
NATO concerned that Russia trying to stage pretext for Ukraine attack
He was asked by the Wall Street Journal about Kremlin's comments blaming Kyiv for the shelling in Donbas. Stoltenberg said, "We are concerned that Russia is trying to stage a pretext for an armed attack against Ukraine. There is still no clarity, no certainty about Russia's intentions." "Russia has amassed the biggest force we have seen for decades," he added.
FIIs outflows, Russia-Ukraine tensions subdue indices; banking stocks down
The FIIs were net sellers on BSE, NSE & MSEI in the capital market segment. They net sold Rs 1,242.10 crore worth of equities. Globally, markets remained on edge on reports of skirmishes between Russia and Ukraine. On the positive side, the US Fed minutes indicated that while the central bank intends to shortly begin raising interest rates, its decisions would be data-dependent.
Musk recalls billionaire who once said Tesla would fail
On Wednesday, the 98-year-old investor said cryptocurrencies should have been banned and likened it to "venereal disease". Responding to his comments, Musk, a crypto supporter, recalled the time when Munger said Tesla could fail. "I was at lunch with Munger in 2009 where he told the whole table all the ways Tesla would fail," said Elon Musk in a reply tweet.
Equities settle marginally down; banking stocks top losers
In the morning session, the indices traded marginally in the red to later rise in afternoon trade, while it tanked towards the end of the session. Accordingly, Sensex closed at 57,892 points, down 0.2 per cent or 105 points, whereas Nifty closed 17,305 points, down 0.1 per cent or 18 points. Banking stocks were the top drags during the session, data showed.
Vistara flight's precautionary landing saved lives of air passengers
Earlier, it was said that the flight had to make an emergency landing. The airline told IANS that it was a precautionary turn around. "A technical snag was detected on Vistara flight UK 697 operating from Delhi to Amritsar on February 17. As a precautionary step, the pilots decided to turn back and land safely at the IGI Airport.
'The New India Inc' to be held 1st time in B'luru on March 7-8
It will open doors to global audience for incisive global discussion and lively debate over two days at Bengaluru. Nirmala Sitharaman, Union Finance and Corporate Affairs Minister; Meenakshi Lekhi, Union Minister of State for External Affairs and Culture; and Rajeev Chandrasekhar, Union Minister of State for Skill Development, Entrepreneurship, Electronics and IT; will participate in the event.
Indian tablet market witnesses 4% YoY growth despite chip shortage: Report
According to Gurugram-based market research firm CMR, among the market players only Lenovo posted a double-digit growth in Q4 2021 that further cemented its place at the top of the leaderboard. "Driven by the pandemic and the need for companion devices at home for work, learn and unwind, tablets continued to witness a strong growth momentum for the second year in succession," Menka Kumari, Analyst-Industry IIG, CMR said.
PhonePe, NITI Aayog team up to launch fintech open hackathon
The Hackathon will provide an opportunity for innovators, digital creators and developers from all over India to think, ideate and code. Winning teams stand to win exciting cash prizes worth Rs 5 lakhs, the platform said in a statement. Participants at the hackathon need to use any open-data APIs like PhonePe Pulse along with frameworks.
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