BUSINESS
Bajaj Auto to invest Rs 300 cr for new EV making unit
"In 2001, Bajaj 2.0 took off on the roaring Pulsar, in 2021 Bajaj 3.0 arrives on the charming Chetak. Going forward, for the Bajaj portfolio, except for implementing one state-of-the-art ICE platform that is currently under development, all our R&D drive train resources are now laser focused on creating EV solutions for the future," said Rajiv Bajaj - Managing Director, Bajaj Auto.
Samsung India announces key organisational changes to bolster growth
The South Korean major appointed CH Choi as the new division leader for the Consumer Electronics business, while Jinsock Lee will be the division leader for the Network business. Lee will be based in Mumbai and Jongbum Park will continue to be the division leader for the Mobile business, the company said in a statement. Aditya Babbar will lead Product Marketing for the Mobile business.
Stock Outlook 2022: FMCG, pharma, IT sectors seen as 'safe and satisfying' bets
Factors such as growth potential, price as well as evolving economic recovery have made these sectors more attractive than others. "Given the uncertainties, one can focus more on defensives (FMCG, pharma, IT services) till there is more clarity on economic growth and inflation across the globe. This is despite the fact that defensives may not be cheap," said Deepak Jasani, Head of Retail Research, HDFC Securities.
Private cryptocurrencies pose risk, prone to frauds, illegal acts: RBI report
As per the cryptocurrencies pose immediate risks of frauds, to anti-money-laundering efforts, and fight aginst terror financing. Besides, these assets are prone to extreme price volatility, given their highly speculative nature, the RBI said in its latest Financial Stability Report. "Longer term concerns relate to capital flow management, financial and macro-economic stability, monetary policy transmission and currency substitution," the report said.
Reliance Industries succession plan: For the first time, Mukesh Ambani opens up on who will get the command
Ambani also said that he has full faith in his three children. Praising the level of their passion and commitment, Mukesh Ambani said that will take the company to even greater heights. Ambani's children- Akash, Isha, and Anant- have been involved in RIL’s telecom, retail and energy businesses. They are not yet part of the board of RIL but are directors of the company's major arms.
BRICS New Development Bank admits Egypt as new member
NDB's Board of Governors had authorised the bank to conduct formal negotiations with prospective members in late 2020. After a round of successful negotiations, NDB started expanding its membership in September 2021 with the admission of Bangladesh, the United Arab Emirates (UAE) and Uruguay.
Adani's world's biggest coal basin heads for export amid protests
Coal giant Adani is commencing its first exports of coal from the Carmichael mine. Adani says the first coal for export is "being assembled" at its coal port in Bowen, the North Queensland Export Terminal. Adani plans for the mine to be Australia's biggest, but has faced 10 years of opposition from Wangan and Jagalingou traditional owners and climate campaigners.
GlobalBees is latest unicorn with $ 111.5 million raise in round led by Premji Invest
GlobalBees, a leading roll-up e-commerce company, has secured $ 111.5 million in series B funding led by Premji Invest. The round also saw participation from existing investors, including SoftBank and FirstCry, while Steadview Capital became the latest investor to back the company.
Indian equities up marginally in early trade
At 10.15 a.m., Sensex traded at 57,993 points, up 0.2 per cent from its previous close of 57,897 points. Similarly, Nifty traded at 17,247 points, up 0.1 per cent from the previous close of 17,253 points.
Piyush Jain sold perfume compounds to 50 countries
"Around 100 samples of compounds have been taken by the financial intelligence teams from the premises of Piyush Jain. He used to sell the compounds to different foreign clients. Our probe has suggested that he has links in around 50 countries," said a source.
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