BUSINESS
India's Dec wholesale price inflation sequentially eases to 13.56%
"The high rate of inflation in December 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum and natural gas, chemicals and chemical products, food products, textile and paper and paper products etc as compared to the corresponding month of the previous year," the ministry said in its review of 'Index Numbers of Wholesale Price in India' for December.
TVS Motor moped domestic sales down, exports up
According to SIAM, the two and three wheeler maker TVS Motor last month had sold 33,395 mopeds, down from 59,923 units sold in December 2020. For the period April-December 2021, TVS Motor had sold 363,868 mopeds in India, down from 462,107 units sold during the same period the previous year.
India's December merchandise exports up over 38% YoY
Exports during December 2020 stood at $27.22 billion. The data by the Ministry of Commerce and Industry showed that in comparison to December 2019, last month's exports rose by 39.47 per cent. "Non-petroleum and non-gems and jewellery exports in December 2021 were $28.92 billion, registering a positive growth of 29.67 per cent over non-petroleum and non-gems and jewellery exports of $22.30 billion in December 2020," the ministry said.
Paytm shares rebound after all-time low, settles up 8%
Notably, the shares hit an all-time low of Rs 1,000 recently. On Friday, the shares settled 8.2 per cent up at Rs 1,116 per share. Brokerage house Macquarie in its latest report lowered its target price for the share to Rs 900 from Rs 1,200 and retained its 'underperform' rating.
Indian mobility tech startup EVage raises $28 mn
Founded in 2014, Evage in India is supplying EV trucks to major delivery fleets such as Amazon India's Delivery Service Partner. The seed-round funding will help the mobility tech startup complete its production-ready factory outside of Delhi in FY2022-23 and scale up production, said the startup.
Amazon aggregator Thrasio to infuse Rs 3,750 cr in buying Indian brands
India is one of the fastest-growing regions for Amazon's third-party marketplace, making it enticing for aggregators. "We couldn't be more excited to work with Lifelong Online and, together, take our proven model to India," said Carlos Cashman, CEO of Thrasio.
Shiprocket acquires B2B logistics aggregator platform Rocketbox
The Rocketbox (now Rocketbox by Shiprocket) founders will join the Shiprocket leadership team and continue to build the cargo product as part of this deal, the company said in a statement. "Rocketbox has a cutting-edge platform which extends Shiprocket's capabilities to B2B use-cases as well as bulk movement using cargo carriers. The platform brings along a host of features which will help retailers save time, cost, and effort, allowing a smooth end-to-end logistics experience," said Saahil Goel, Co-Founder and CEO of Shiprocket.
Has IPO-bound OYO regained trust of its hotel partners?
The company has recently been affected by some of its hotel partners publicly complaining, filing cases and even writing to the regulator.
Budget FY23: Realty seeks incentives on home loans, rental income, GST cut on inputs
After facing strong headwinds during the initial days of the pandemic, the real estate sector has largely managed to come out of the turbulent clouds in 2021. To keep the momentum intact in the high-growth potential realty sector, several developers have requested the government to provide incentives on taxes (both principal and interest) for home loans, on the rental housing segment, and extend some concessions on income from renting of housing properties.
Equities decline on Friday after five consecutive sessions of gains
Notably, indices had been gaining for the past five trading sessions. At 10.28 a.m., Sensex traded at 60,986 points, down 0.4 per cent from the previous close of 61,235 points. It opened at 61,040 points.
Don't Miss
Advertisement