BUSINESS
Lower oil prices, global cues lift equity indices; realty stocks rally
Globally, Asian shares rose led mainly by Chinese tech shares which tracked a rally on Wall Street after signs of progress on resolving the standoff in the Congress over debt ceiling. Similarly, European stocks also rebounded. Sector wise, realty, consumer durables and auto indices gained the most whereas oil and gas and telecom were the two indices that ended in the negative.
Microsoft acquires Ally.io to boost employee experience
Ally.io, a leading OKR (objectives and key results) company, will join the Microsoft Viva family as part of its employee experience platform (EXP) designed to help companies embrace the new digital work life, Microsoft said in a statement late on Thursday. The financial details of the deal were not disclosed. The OKR category is a fast-growing and emerging space and Ally.io is leading the way as one of the most loved tools on the market.
Policy Push: Expected lending rates status-quo lift equity indices; Sensex reclaims 60K-mark
Accordingly, the 30-scrip sensitive index traded at 60,017.18 points around 9.00 a.m., up 339.35 points or 0.57 per cent. The Sensex opened at 59,960.39 points from its previous close of 59,677.83 points. Besides, the NSE Nifty50 traded at 17,891.85 points, up by 101.50 points or 0.57 per cent. It opened at 17,886.85 points from its previous close of 17,790.35 points.
Growth Stimulating: RBI's MPC retains rates, accommodative stance
Accordingly, RBI Governor Shaktikanta Das pointed out that GDP is expected to grow at 7.9 per cent in Q2, 6.8 per cent in Q3, 6.1 per cent in Q4 and 17.2 per cent in Q1FY23. On Friday, the RBI retained its key short-term lending rates during the third monetary policy review of FY22. Besides, the growth-oriented accommodative stance was retained to give a push to economic activity.
India's economy to grow by 8.3%, making it 2nd fastest growing-major economy
The Bank's Regional Economic Update released on Thursday said that after the "deadly second wave" of Covid-19 in India "the pace of vaccination, which is increasing, will determine economic prospects this year and beyond".
Tesla moving headquarters from California to Texas
"I'm excited to announce that we're moving our headquarters to Austin, Texas," Musk said at an annual shareholders meeting on Thursday, reports Washington Post. "Just to be clear, though, we will be continuing to expand our activities in California."
New RBI rule on recurring payment not to impact transactions with compliant merchants
Banking sector experts said that most of these merchants offering various bouquet of service have migrated to the new Standard Instruction Platform put in place by the banks in the country. This would mean that payment instruction to these compliant vendors would have to be revalidated once and it would move seamlessly in subsequent months without any hindrance to the service.
Yes Bank scam: SC grants interim bail to Rana Kapoor's wife, daughters
A bench comprising Justices S.K. Kaul and M.M. Sundresh said: "In the meantime, the petitioners are granted interim bail with no specific conditions at this stage as the petitioners were originally granted bail/interim bail subject to certain terms and conditions by the trial Court which would naturally equally apply here".
BPCL could cost acquirer Rs 20K cr more as SEBI open offer exemption for IGL, PLL unlikely
Sources privy to the development said that market regulator Securities and Exchange Board of India (SEBI) is not in favour of giving exemption to the BPCL from making open offer in the PLL and the IGL where it already holds substantial stake as it would go against the interest of minority shareholders.
Bitcoin reclaims $1 trillion cap, Indian crypto players cheer
The Indian cryptocurrency market is expected to reach up to $241 million by 2030 in India and $2.3 billion by 2026 worldwide. According to a report by IT industry's apex body Nasscom, there are 15 million retail investors in India investing in the cryptotech space.
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