BUSINESS
Equities settle low on continued fund outflows; Sensex slips over 400 pts
Accordingly, Sensex settled 0.7 per cent or 427 points down at 59,037 points, whereas Nifty 0.8 per cent or 140 points down at 17,617 points. "(Also), weak sentiments from global markets due to persistent inflationary worries and weaker-than-expected earnings added to the selling pressure," said Vinod Nair, Head of Research at Geojit Financial Services.
SC to Supertech: Refund money to all homebuyers
A bench comprising Justices D.Y. Chandrachud and Bela. M. Trivedi said Supertech should do the complete refund to homebuyers, who filed the contempt petition, by February 28, and the other homebuyers who are not in court should approach it within a week.
Indian startups raised record $24.1 bn in 2021: Nasscom
The Indian tech startup base continues to witness steady growth, adding over 2250 startups in 2021, which is 600 more than 2020. India, accounting for 70 unicorns, added a record number of new unicorns (42) in 2021 across 18 sectors, third highest after the US and China, with a cumulative valuation of newly-added unicorns standing around $90 billion.
Budget expected to restore consumer confidence
The growth outlook for the next fiscal is clouded by various downside risks, including new Covid-19 outbreaks, rising commodity prices, mounting inflationary expectations, lingering supply bottlenecks and not-so-favourable global recovery amid diminished fiscal and monetary policy support. To restore consumer confidence, which was severely dented by waves of the Covid-19 pandemic and to sustain the growth recovery, the Budget is expected to provide support through various measures.
Essar Capital appoints Anil Kumar Chaudhary as CEO for metals and mining vertica
Anil Chaudhary was formerly the Chairman and Managing Director of Steel Authority of India Limited (SAIL) and has been the Chairman of International Coal Ventures Ltd. (ICVL) and junction services Ltd. He had also been the President of Steel Research and Technology Mission of India (SRTMI). Currently, he is the Chairman of Minerals and Metals Committee of PHDCCI. He will be the member of the Executive Committee, and will play a key role in driving the investment strategy and growth in the Metals & Mining Vertical, domestically and globally.
Biocon Q3FY22 revenue at Rs 2,223 crore, up by 18%
Biosimilars grew by 28 per cent to Rs 981 crore, Research Services was up 10 per cent at Rs 641 crore and Generics delivered a 7 per cent growth at Rs 607 crore. Biocon, a global biopharmaceuticals company, announced its consolidated financial results for the third quarter ended December 31, 2021, on Thursday night.
Crypto.com loses $34 mn in hack involving 483 users
Overall, the unauthorised withdrawals had over $15 million worth of etherum, $19 million worth of Bitcoin and $66,200 in "other currencies". The platform said late on Thursday that on January 17, its risk monitoring systems "detected unauthorised activity on a small number of user accounts where transactions were being approved without the 2FA authentication control being inputted by the user".
Decline in equities continue for 4th straight sessions
At 10.25 a.m., Sensex traded at 58,593 points, down 0.9 per cent from the previous close of 59,464 points. It opened at 59,039 points. Nifty traded at 17,599 points, down 0.9 per cent from the previous close of 17,757 points. It opened at 17,613 points. Bajaj Finserv, Tech Mahindra, Coal India, Adani Ports, Bharti Airtel were some of the top losers, NSE data showed.
Secured Vs Unsecured Loans: Which one is a Better Option for You?
A secured loan is when you have collateral against the loan that you are taking. It could be in the form of a property, an FD, or any other asset that you have. An unsecured business loan is where the bank or NBFC does not ask for collateral against the loan. The lender assesses your capacity to pay the loan back, along with your debt to income ratio.
EPFO added 13.95 lakh net subscribers in Nov 2021
Year-on-year comparison of payroll data also show an increase of around 3.84 lakh in net payroll additions in November 2021, as compared to 10.11 lakh net subscribers added during the corresponding month of 2020, the Ministry of Labour and Employment informed on Thursday. Of the total 13.95 lakh net subscribers added in November last year, 8.28 lakh new members came under the social security cover of EPFO for the first time.
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