BUSINESS
Essar's JV to set up UK's largest hydrogen hub
Led by Essar as the majority shareholder, Vertex Hydrogen has been formed to provide the catalyst for development of a hydrogen economy across northwest England and north Wales.
India's 'Buy Now, Pay Later' segment poised to reach $56 bn by FY26
The segment provides short-term financing to make immediate purchases and the credit can be paid back at a later date. "India's BNPL is at an inflexion point with rising ecommerce and digital P2M payments fuelling deferred payments. BNPL GMV is poised to exhibit 74 per cent CAGR and account for 5 per cent of digital P2M payments by FY26E," HDFC Securities said. "The proliferation of BNPL as a mode of credit-based payment is gaining significant traction, particularly amongst the millennials and Gen-Z population within a short span of time."
Nadella ranked No 1 among CEOs in Brand Finance list, women CEOs lose, tech, TikTok and China surge
Nadella, a first-generation Indian immigrant to the US, "has been credited with overhauling Microsoft's fortunes by changing its culture towards one of teamwork, innovation, and inclusivity, and instilling a growth mindset throughout the business". Three other Indian-origin expat CEOs rank high: Sundar Pichai of Google is at 5, Shantanu Narayan of Adobe at 6, and Puneet Renjen of Deloitte at 14.
Specialty chemicals maker Neogen's shares double in 1 year guided by PLIs
The 30-year-old company, founded by Haridas T. Kanani, specialises in bromine based compounds, grignard reagents and inorganic lithium salts. Neogen operates out of three manufacturing facilities located at Navi Mumbai, Vadodara and Dahej SEZ (Special Economic Zones) in Gujarat. In the past one-year period, the shares of the firm rose 131 per cent to Rs 1,639 per share.
US stock market having worst ever start to a year
It's been a decidedly ugly start to the year for the US stock market, with particular pain in the tech trade.The 8.6 percent decline for the month edges out the 8.57 per cent drop experienced in January 2009. The S&P 500 data goes back to 1929, the report said. The sell-off has been even worse for the tech-heavy Nasdaq composite index.
Centrum Broking gives 'buy' call for Container Corp, Polycab India, Axis Bank
For Container Corporation of India, it has kept the target price at Rs 737 per share by FY23-FY24, against the current price of Rs 620. "Concor's domestic business is on a strong growth trajectory led by incremental cargo in commodities like cement, foodgrains, industrial salts, etc.," it said. The company's robust cash flows continue to support its elevated capital expenditure spending, leading to a debt-free balance sheet.
NYMEX crude oil seen at $66-96 per bbl in Jan-Mar, says Kotak Securities
Investors are advised to wait for a "corrective dip" before creating fresh long positions, it said. For crude oil on the Multi Commodity Exchange of India, prices are seen in a window of Rs 4,700-7,200. "While volatility may continue, general bias still remains positive with expectations of a tighter market," the brokerage said. Demand for crude oil is expected to grow, said the brokerage, adding that, however, challenges still persist in the form of risks from the virus, slower global economic growth and withdrawal of stimulus measures.
Budget FY23: Need to support incomes for consumption push
As per Crisil Research, the past few budgets have emphasized the government's intent to drive potential growth by leaning on a mix of CAPEX and reforms. The National Statistical Office's latest estimates on India's GDP for this fiscal show that household consumption demand is lagging fiscal 2020 levels by 3 percent.
South Korea's foreign currency trading hits record high in 2021
The daily average trading of foreign currencies and foreign exchange derivatives, made by foreign exchange banks, came in at $58.3 billion in 2021, up 10.3 per cent from the previous year, according to the Bank of Korea (BOK). It has marked the highest since data began to be compiled in 2008.
IMF warns El Salvador from using Bitcoin as official currency
El Salvador in September last year became the first country in the world to adopt bitcoin as an official currency. The central American nation announced that it plans to buy "a lot more" bitcoins soon. It purchased 200 tokens earlier and another 200 more ahead of its rollout as a legal tender.
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