BUSINESS
Indian equities a tad up in early trad
At 9.45 a.m., Sensex traded at 58,157 points, up 0.02 per cent or just 15 points, whereas Nifty traded 17,375 points, up 0.13 per cent or 22 points. Among the stocks, HDFC Life, Mahindra & Mahindra, Adani Ports, BPCL, and Indian Oil Corporation were the top five gainers among the Nifty 50 companies, rising 2.5 per cent, 2.3 per cent, 1.9 per cent, 1.7 per cent, and 1.6 per cent, respectively.
Developing countries face growing risks from financial fragility: World Bank
Developing countries face growing risks from financial fragility created by the Covid-19 crisis and non-transparent debt, the World Bank has said in a report, urging policymakers to focus on creating healthier financial sectors. "Risks may be hidden" because the balance sheets of households, businesses, banks, and governments are tightly interrelated, according to the World Development Report 2022: Finance for an Equitable Recovery.
India's Q3FY22 GDP expected to grow at 6.2%: ICRA
The expected YoY growth of the GDP and gross value added (GVA) at basic prices at constant 2011-12 prices in Q3FY22 will display a broad-based, base effect-led moderation to 6.2 per cent and 6 per cent, respectively, it said. In Q2FY22, the GDP grew by 8.4 per cent and 8.5 per cent, respectively.
India, Philippines discuss widening cooperation in more areas
The expected YoY growth of the GDP and gross value added (GVA) at basic prices at constant 2011-12 prices in Q3FY22 will display a broad-based, base effect-led moderation to 6.2 per cent and 6 per cent, respectively, it said.
Wall Street jumps after Russia says it's withdrawing some troops
Investors have been concerned that an armed Russian conflict with Ukraine could badly damage the global economy. A war could send prices surging in regions that have already been struggling with rapidly rising inflation, especially as energy supplies could be disrupted in the middle of a conflict. Russia is a major exporter of oil and particularly natural gas, the report said.
India's Jan merchandise exports rise over 25%, imports 23%
The exports during January 2021 stood at $27.54 billion. The data by the Ministry of Commerce and Industry showed that in comparison to January 2020, last month's exports rose by 33.45 per cent.
CV sales growth to see double-digit drive next fiscal on infra thrust
Commercial vehicles sales volume is expected to grow 18-23 per cent this fiscal, with the third wave of the Covid-19 pandemic not expected to materially impact the ongoing recovery, it said. "The industry should sustain the double-digit volume growth next fiscal also on continuing economic recovery and infrastructure spending.
Vedanta-Foxconn JV may just be the beginning of India-Taiwan tech partnership
While this is expected to give a push to Prime Minister Narendra Modi's production-linked incentive (PLI) plan, it is also seen by many as a move that would further expand collaboration between India and Taiwan, which is a key player in the global supply chain network.
SpiceJet's Q3FY23 net profit at over Rs 23 cr
The airline reported one-time exceptional adjustment of Rs 77.46 crore on account of settlement. The settlement with Boeing was a significant event during the quarter. "As expected, the company received cash and non-cash accommodations significantly in excess of the amounts due to lessors during the period of grounding of MAX aircraft," the airline said in a statement.
Musk donates over $5bn worth of Tesla shares to unnamed charity
Musk transferred the 5,044,000 Tesla shares -- which were worth more than $5.4 billion at the time -- over the course of 10 days in November, according to a Securities and Exchange Commission filing. The filing called the transfer a "bona fide gift" to charity, but it did not say what charity received the shares, the report said on Monday.
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