BUSINESS
Crops spread over 8 lakh hectares damaged in flood-hit Andhra
The district-wise breakup of crop loss was yet to be updated but as per the district-wise information available as on November 21, Kadapa district suffered the maximum. Crops over 1,26,167 hectares were damaged in Kadapa, followed by 90,498 hectares in Anantapur. Nellore and Chittoor districts had suffered crops damage over 12,118 hectares and 9,616 hectares respectively.
Vijay Shekhar Sharma compares himself to Elon Musk after Paytm's historic IPO flop
He made these remarks on Thursday at the company town hall which continued for four long hours, according to Bloomberg's sources. The startup founder had reportedly gathered all the employees who had witnessed the company’s stock plummet and encouraged them to look beyond the rough start.
RIL Chairman Mukesh Ambani working on succession plan similar to Walmart's Walton family
With an empire worth $208 billion, the next step for Ambani is to rule out clashes caused due to the succession of wealth, which has torn apart many wealthy clans in the past. 64-year-old Indian tycoon is planning to move his family's holdings into a trust-like structure that will control the flagship Reliance Industries Ltd, Bloomberg reported quoting its sources.
No change in fuel prices on Tuesday
The pump price of petrol in the national capital Delhi on Thursday remained steady at Rs 103.97 a litre and diesel prices at Rs 86.67 a litre. The fuel prices had last gone down when the Central government had reduced the excise duties on Diwali eve, November 4. The petrol price in the financial capital Mumbai continued to be at Rs 109.98 a litre and diesel Rs 94.14 a litre.
SpiceJet reintroduces 737 Max aircraft after recertification
The aircraft is reinstated after a gap of around two-and-a-half years and the airline has conducted proper recertification by the aviation regulator DGCA using European standards. At present, the budget-friendly airline is the only operator of the 737 MAX in the country. SpiceJet had signed a deal with Boeing for 205 aircraft in 2017 worth $22 billion and currently has 13 of these planes in its fleet.
Equity indices decline in early trade; investors fear FII outflow
At 9.45 a.m., the S&P BSE Sensex traded at 58,198 points, down 0.26 per cent. It opened at 57,983 points from the previous close of 58,465 points. Till now it touched a high of 58,247 points and a low of 57,718 points. Besides, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 17,796 points after closing at 17,416 on Monday.
Over 13mn dependent on coal economy in India: Study
The transition out of coal will have the highest impact on the people in the states of Jharkhand, Chhattisgarh, Odisha, West Bengal, Madhya Pradesh, and Telangana, the study by the National Foundation for India (NFI), a think tank, and launched by Secretary, Ministry of Coal, Anil Jain, said. The coal transition that formed the basis of the study is with reference to India's agreement at the recently concluded COP26 at Glasgow to a clause in the 'Glasgow Climate Pact' that calls for a phase down of unabated coal power while recognising the need for support towards just transitions.
Sale of illegal items on Amazon continuing; police seized 48 kg marijuana in Visakhapatnam: CAIT
According to CAIT, after being tipped off by the Bhind police, the police in Visakhapatnam have recovered 48 kg marijuana from one of Amazon's partners. An FIR was registered in this connection on November 20 under the NDPS Act, 1985, CAIT claimed in a statement. It is learnt that two Amazon delivery boys have also been arrested by the Visakhapatnam police, CAIT said.
RBI announces draft scheme of amalgamation of PMC Bank with USFB
USFB is a brand new bank which commenced operations on November 1, 2021. The bank is being set up with capital of about Rs 1,100 crore as against regulatory requirement of Rs 200 crore for setting up a small finance bank under the guidelines for on-tap licensing of small finance bank in private sector dated December 5, 2019, with provision for further infusion of capital at a future date after amalgamation.
India's two-wheeler sales likely to fall 1-4% YoY in FY22: ICRA
Accordingly, the rating agency cited that the relentless increase in prices of two-wheelers coupled with record-high petrol rates kept consumers away from dealerships. "The entry-segment (75-110cc), which dominates 2W (two-wheeler) sales in India, has remained subdued this year, reflecting extensive (and extended) impact of the second wave of the pandemic.
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