BUSINESS
Green Energy: India's clean energy push propels renewable companies' stocks
Accordingly, shares of Suzlon Energy, Orient Green Power, Inox Wind, JSW Energy, Adani Green Energy, Websol Energy System, Borosil Renewables have seen a substantial rise. Earlier, Prime Minister Narendra Modi at the COP26 meet in Glasgow said India aims to increase its non-fossil energy capacity to 500 Giga Watt by 2030, besides the country wishes to fulfil 50 per cent of its energy requirements from renewable energy sources by 2030.
Bitcoin drops to 3 month-low after US Fed signal
Bitcoin traded Friday at $42,086, down 2.1 per cent over the past 24 hours, according to CoinDesk. The world's largest cryptocurrency fell to as low as $41,012, hitting the lowest level since September 29 and taking the weekly decline to 12 per cent, CoinDesk reported. Bitcoin's record high is $68,990.90.Ethereum, the second-largest digital currency, has declined 4.9 per cent over the past 24 hours to $3,231, the report said.
ECLGS saved 13.5 lakh MSMEs, 1.5 crore jobs: SBI Research
"In absolute terms, MSME loan accounts worth Rs 1.8 lakh crore were saved from slipping into NPA during the period," the report said."This is equivalent to 14 per cent of the outstanding MSME credit being saved from becoming NPA." In May 2020, the Centre launched the ECLGS scheme for the MSME sector to provide relief to the sector amidst the pandemic. Of the 13.5 lakh beneficiaries, over 93 per cent were those in micro and small segments, the report said.
Retail, hospitality sectors saw significant hiring in Dec: Report
The rebound was, however, likely to be hampered once again with the Omicron variant spread in the country this month. According to the Naukri JobSpeak Index, the festive year-end marked an upswing in hiring activity over last year across all major metros.
'Startup India Innovation Week' to begin Jan 10, showcase entrepreneurship across India
The event which also aims to commemorate the 75th year of India's independence 'Azadi Ka Amrit Mahotsav', will begin on January 10 and continue til January 16. 'Startup India Innovation Week' will have sessions ranging from topics such as enhancing market access opportunities, discussions with industry leaders, best practices by states, capacity building of enablers, reverse pitching by incubators, technology exhibitions, corporate connects and more.
'AI' will emerge as a game-changer in the Real Estate Sector, says Pankaj Bansal
'Artificial Intelligence' (AI) is entering the real estate business from consumer buying and selling strategies to investing in the designing, and construction of large commercial, residential and mixed use projects. Knight Frank 2022 report projects around 5 per cent capital value growth for the residential property segment in the country in 2022.
Equity market up in early trade on Friday
At 9.35 a.m., Sensex traded at 60,011 points, up 0.7 per cent from its previous close of 59,602 points. It opened at 59,776 points.
Electric two-wheelers' sales jump 132% in 2021: SMEV
Total sales of E2W, including high-speed and low-speed ones, during the period under review rose to 233,971 E2W as against 100,736 units sold in 2020. The industry body pointed out that customers have now started to shift in large numbers from petrol two-wheelers to electric ones due to attractive prices, lower running costs, and lower maintenance. Besides, SMEV said that high-speed E2Ws, which have speeds greater than 25 km per hour and require a full license, registered a whopping 425 per cent growth.
Dunzo raises $240 mn led by Reliance Retail Ventures to expand business
The freshly raised funds will be used in enabling instant delivery of essentials from a network of micro warehouses while also expanding its 'B2B' business vertical to enable logistics for the local merchants. Currently, Dunzo is available across seven metro cities in India and the additional capital will be used to expand its business to 15 cities. The investment was led by Reliance Retail Ventures, with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital.
Spread of Omicron to reduce GDP growth by 10 basis points in FY22: Ind-Ra
The rising cases have led to various curbs instituted by state governments such as reduced capacity of markets, night and weekend curfews to check human mobility. As per Ind-Ra's estimates, GDP growth in Q4FY22 will now come in at 5.7 per cent year-on-year (YoY) which is 40 basis points lower than the agency's earlier estimate of 6.1 per cent. "For the entire FY22, the GDP is expected to clock a growth rate of 9.3 per cent YoY, 10 bp lower than our earlier estimate of 9.4 per cent," the agency said.
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