BUSINESS
After some cooling in markets, expect rebound in expiry week
BSEMIDCAP and BSESMALLCAP were under tremendous pressure and lost significantly more, losing 4.24 per cent and 5.21 per cent respectively. The top sectoral gainer was BSEBANKEX which gained 3.01 per cent while the top loser was BSEFMCG which was down 6.08 per cent.
Indian banking Sector insulated against Covid-19, expects improved profitability even as asset quality remains monitorable
The gross non-performing advances (GNPAs) and the net NPAs remained stable at 7.7 per cent and 2.5 per cent respectively for banks as on June 30, 2021, compared to 7.6 per cent and 2.5 per cent as on March 31, 2021, and 8.6 per cent and 3.0 per cent as on March 31, 2020, i.e. at the beginning of the pandemic.
Musk trolls Cook over Apple's $19 cleaning cloth
In celebration of Apple's new store in Istanbul, Cook tweeted on Friday: "Introducing Apple Bagdat Caddesi, our beautiful new store in Istanbul. We're glad to be a part of this vibrant community and we can't wait to welcome customers to this spectacular new space." Musk replied to the tweet stating "Come see the Apple Cloth TM", adding much to the joy of the internet, reports iMore.
Fuel prices hiked again by 35 paise/ltr for 5th consecutive day
Accordingly, the pump price of petrol in Delhi rose by 35 paise to its highest-ever level of Rs 107.59 a litre while diesel prices also rose by the same margin to Rs 96.32 a litre, according to a price notification of state-owned fuel retailers. In the financial capital Mumbai, petrol prices have now risen to Rs 113.47 per litre while diesel to Rs 104.47 a litre, the highest among all metros.
TCS to manage Ram temple trust funds
The move comes after the trust faced allegations of corruption over land deals.Ram temple Trust General Secretary Champat Rai confirmed the takeover. Sources said that the decision was taken at the behest of Rashtriya Swayamsevak Sangh (RSS), which had summoned three key Trust members to Mumbai four months ago for a closed-door meeting over the controversial land deals.
Top cryptocurrencies that can become Bitcoin of the future
However, Bitcoin is not the end of the crypto world and here are some cryptocurrencies that have the potential to join the big league in the near future. Billed as the mother of all cryptocurrencies, Bitcoin which is a decentralised digital currency was created by someone called Satoshi Nakamoto (possibly a pseudonym) in 2009.
'Gold Bond' VII to be issued at Rs 4,765 per gram
According to the Ministry of Finance, the Sovereign Gold Bond Scheme 2021-22 (Series VII) will be opened for subscription during the period October 25-29, and the settlement date has been set at November 2. "For such investors the issue price of 'Gold Bond' will be Rs 4,715 per gram of gold."
Pakistan mulls taxing farm income to meet IMF demand
The proposal has been discussed between Pakistan and the IMF and a draft of the legal amendment has also been prepared. Pakistan tax authorities have told the IMF that the legal amendment could be introduced in the 4th Tax Laws Amendment Ordinance. The sources said that during the review talks, a major demand by the IMF was to bring the agricultural sector under the federal tax domain.
ICICI Bank's YoY Q2FY22 standalone net profit up 30%
On a standalone basis, the profit after tax grew to Rs 5,511 crore compared to Rs 4,251 crore in Q2FY21. Similarly, the bank's net interest income (NII) rose during the quarter during under review. It grew by 25 per cent to Rs 11,690 crore in Q2FY22 from Rs 9,366 crore in Q2FY21.
Greaves Electric Mobility buys out 26% in Bestway
In 2020 Ampere Vehicles -- now Greaves Electric Mobility -- bought 74 per cent stake in the Noida based electric rickshaw maker Bestway Agencies rolling out Ele brand vehicles for Rs 7 crore. Following the completion of the acquisition, Bestway Agencies is now a fully owned subsidiary of Greaves Electric Mobility.
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