BUSINESS
Nifty is due for a pause, may even ease in early part of 2022: Report
After a stellar two years for the Nifty where it even left the S&P behind at times (even in US Dollar terms), we believe the valuation does not fully reflect upcoming headwinds, the report said.
CryptoWire introduces India's first global index of Cryptocurrencies IC15
The IC15 tracks and measures the performance of the top 15 widely traded liquid cryptocurrencies listed on leading crypto exchanges of the world, the company stated.
Equities trade positive in first trading session of 2022
At 9.30 a.m., Sensex traded at 58,589 points, up 0.6 per cent from its previous close of 58,253 points. It opened at 58,310 points.
Sri Lanka could go bankrupt this year
The meltdown faced by the government, led by the strongman president Gotabaya Rajapaksa, is in part caused by the immediate impact of the Covid crisis and the loss of tourism but is compounded by high government spending and tax cuts eroding state revenues, vast debt repayments to China and foreign exchange reserves at their lowest levels in a decade, the report said. Inflation has meanwhile been spurred by the government printing money to pay off domestic loans and foreign bonds.
Rising Covid cases likely to dampen equity market in New Year
In the past few days, due to increasing caseload several states have brought in some sort of restrictions, curfews, closure of select activities. "Now onwards the rise could be slower in the new year when all players will return to their trading desks, 17,161 points is a support in the near term while 17,405-17,534 band could provide resistance," said Deepak Jasani, Head of Retail Research at HDFC Securities.
Tata Motors' PV sales overtake Hyundai in December
Besides, PVs, Tata Motors has a major presence in the commercial vehicle segment. Tata Motors' total domestic passenger vehicle sales rose by 50 per cent to 35,299 units from 23,545 unit off-take in December 2020. "Tata Motors PV business growth journey continued and set several new milestones during the quarter despite witnessing a shortfall in production due to the ongoing semiconductor crisis," said Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors.
Divestment-bound Air India's H1FY22 net loss rises over 43%
The airline's net loss rose to Rs 5,422.6 crore during the period under review from Rs 3,779.26 crore reported for the previous corresponding period. These figures were a part of the unaudited standalone financial results for the half year ended September 30, 2021, as reviewed by IANS. Besides, the company reported a YoY rise in its revenue of 21 per cent to Rs 5,524 crore.
Ensure e-commerce rules are not relaxed, CAIT tells Centre
"... any dilution in the proposed e-commerce rules under CPA (Consumer Protection Act) will percolate a strong feeling across the country that the government has succumbed to some hidden pressures and the e-commerce landscape has been offered to the global e-tailers to twist the e-commerce to their advantage even at the cost of flouting the laws and the policy...," the CAIT said in a letter written to Union Commerce and Industry Minister Piyush Goyal.
Tata Motors' December sales up 24% YoY
The domestic sales rose to 66,307 units during the month under review from 53,430 units sold during December 2020.
Dec YoY GST collection rises 13% to over Rs 1.29 lakh crore
December's collections declined on a sequential basis from Rs 1,31,526 crore reported for November. "The revenues for the month of December 2021 are 13 per cent higher than the GST revenues in the same month last year and 26 per cent higher than the GST revenues in December 2019," the Ministry of Finance said in a statement.
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