BUSINESS
A firm faced 270 cyber attacks on average at $3.6 mn per incident: WEF study
Perhaps even more troubling is the growing trend that companies need 280 days on average to identify and respond to a cyberattack. As many as 80 per cent of cyber leaders stressed that ransomware is a dangerous and evolving threat to public safety, with 50 per cent of respondents indicating that ransomware is one of their greatest concerns when it comes to cyber threats, according to WEF's 'Global Cybersecurity Outlook 2022', released during its online Davos Agenda summit.
Markets stable in last 10 years' pre-Budget trade, bloomed afterwards (IANS Market Watch)
Traditionally, until 2016, the Budget was announced on the final working day of February. Now it is presented in the Parliament on the first working day of February. Accordingly, the periods just before and after assume much significance for market movement. This time around, the ongoing Covid-19 pandemic and the upcoming state elections have heightened the stakes of the Budget day.
Equities settle low on profit booking, rising crude prices; Sensex slips 550 pts
Notably, indices traded on a positive note for six out during the past seven sessions. On Tuesday, the Sensex and Nifty settled at 60,754 points and 18,113 points, down 0.9 per cent or 554 points and 1.1 per cent or 195 points from their previous close, respectively. All the sectoral indices traded in the red with Nifty realty, metal, IT, auto, and PSU bank declining the most, the NSE data showed.
Agritech platform Arya.Ag raises $60 mn to bolster grain biz
The equity round was led by Asia Impact SA, Lightrock India and Quona Capital. The agritech platform also raised debt financing from the US International Development Finance Corporation (DFC), among others. Arya.ag connects sellers and buyers of agriproduce, providing complete assurance on quantity, quality and payments. The platform also claims to eliminate distress sales of farmers' produce by enabling farmgate storage and seamless finance options, offering farmers the freedom of when and whom to sell to
Tata Motors to raise passenger vehicle prices
According to the company, there will be an average increase of 0.9 per cent, depending on the variant and model. "At the same time, the company has also taken a reduction of up to Rs 10,000 on specific variants, in response to feedback from customers. "While the company is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike."
Discuss pharma industry profits in parliamentary committee: Manish Tewari
Tewari quoted reports that the growth in the pharma exports in FY 2021 was $ 24 billion which increased to 18.4 percent and is the highest in nine years in the country.
ICICI Bank best performer in banking with 42% returns in FY22
Its market capitalization ranking within the BFSI space has improved to two from five in FY18. Stability of the top management has helped improve its operational performance. Sandeep Bakhshi's appointment as CEO has brought stability which enabled value creation and drove re-rating as the bank delivered 31 per cent CAGR in m-cap since FY18-21 v/s 7 per cent over FY10-18.
Coffee Day Enterprises stock up by 70% in 7 days
The company's shares are now at Rs 72.35, very close to its 52-week high. The stock gained on Monday by a whopping 6 per cent and was up another 3 per cent on Tuesday morning.
Equities decline in early trade on profit booking
Sensex traded at 61,099 points, down 0.4 per cent from the previous close of 61,308 points. It opened at 61,219 points.
Devas Multimedia first case of winding up on company on grounds of fraud
A bench of Justices Hemant Gupta and V. Ramasubramanian drew out a comparison between The Companies Act, 1956 and The Companies Act, 2013, to examine fraud as a ground for winding up a company.
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