BUSINESS
Equities extend gaining streak, settle marginally higher
Notably, with Thursday's marginal gains, indices traded on a positive note for fifth consecutive session. Return of foreign portfolio investors (FPIs) into the Indian equity segment likely supported the market sentiment. On Thursday, the Sensex and Nifty settled at 61,235 points and 18,257 points, up 0.14 per cent and 0.25 per cent from their previous close, respectively.
India-UK launch crucial free trade negotiations
The FTA negotiations in New Delhi are expected to facilitate the target of doubling bilateral trade between India and the UK by 2030, set by the Prime Ministers of both the nations, Narendra Modi and Boris Johnson, in May 2021. Speaking on the occasion, Goyal said that both India and the UK are vibrant democracies, with a partnership build on the shared history and rich culture of the two nations.
Despite decline, Lenovo tops global PC market in Q4 2021
The decline was due to the slowed US market, weak Chromebook demand and supply chain issues, which impeded Lenovo's ability to supply PCs to enterprise customers. These factors also contributed to HP's 4 per cent year-over-year decline. However, HP's decline was tempered by robust growth in the Asia-Pacific market. HP with 21.1 per cent share was second, followed by Dell with 19.5 per cent global market share in Q4.
Union Budget 2022-23 likely to give more incentives to boost startups
In her last budget, the finance minister announced extension of tax holidays for startups along with exemption of capital gains for investment till March 31, 2022. Access to credit and tax incentives are areas that would be looked into. "We will further focus on startups and unicorns. Expect more policy measures in the budget," an insider told India Narrative.
Paytm's IPO braved stock market when global fintech was drowning
Overall, Paytm IPO is the 4th largest fintech stock debut. "Paytm, which opened at an offer price of Rs 2,150 braved the markets on a tough day and its share price was also impacted. But Paytm came out stronger than how most other fintech companies fared during the same time," said Dr Ravi Singh, Research Head, Share India.
Flipkart acquires electronics recommerce platform Yaantra
The acquisition, said Flipkart, will augment its existing refurbishment business in the smartphone category. "Through the acquisition of Yaantra, we are enhancing our capabilities in a domain that is critical for the growth of the digital economy in India, as well as developing a comprehensive service ecosystem to support its expansion," said Ravi Iyer, Senior Vice President and Head, Corporate Development, Flipkart.
Auto component maker Pricol shares up 8%, 155% in past 1 yr
During the entire session, the shares pared a portion of its intra-day gains and settled nearly 8 per cent high at Rs 129. The company is heavily investing in next-gen technologies to sustain growth besides continuing with its focus on reducing debt to become debt free over the next few quarters.
Pricol commenced its operations in 1975 in Coimbatore is a manufacturer of automotive instruments.
POSCO & Adani sign MoU for integrated steel mill
The non-binding MoU signed between POSCO and Adani intends to further collaborate at the group business level in various industries such as renewable energy, hydrogen, and logistics in response to carbon reduction requirements. Both parties are examining various options to cooperate and leverage the technical, financial, and operational strengths of each company.
India to become Asia’s second largest economy by 2030: Report
Indian nominal GDP currently stands at USD 3.1 trillion. India’s nominal GDP will almost quadruple from USD 2.7 trillion in 2021 to USD 8.4 trillion by 2030, surpassing Japanese GDP, according to the IHS Markit report . The Indian economy will also likely surpass the British and the German economy in nominal terms within the same timeframe.
RBI likely to hike interest rates by up to 100 basis points in 2022
"In the immediate neighbourhood, Pakistan and Sri Lanka have raised policy rates. We expect India, too, to start raising interest rates soon and the RBI may raise the policy rate by up to 100 bps in 2022. This can have negative impacts, at least in the short-term, on both the equity and bond markets," Anand Rathi Share and Stock Brokers said in a report.
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