BUSINESS
Sensex not a bubble, 60,000 just the beginning: BSE CEO Ashish Kumar Chauhan
The 30 share BSE SENSEX equity benchmark index climbed 10,000 points – from 50,000 points to 60,000 -- between January and September, making it the shortest time for such gains. BSE SENSEX CEO Ashish Kumar Chauhan has said that India's Sensex story is here to stay. 60,000 is not the end, it's just the beginning of the Sensex story.
Musk confident chip shortage will be solved by next year: Report
The pandemic has resulted in an increased demand for many electronics and computers that the supply chain couldn't handle, especially the semiconductor industry, reports Electrek.
Evergrande financial crisis: An analysis
Such a liquidity crisis may have far-reaching consequences as Mark Williams, Chief Asia Economist, Capital Economics, notes that this might be the biggest financial crisis China might witness post their world war economic expansion.
Kharif crop sown on 1,115.29 lakh hectares: Agri Ministry
Compared to normal of corresponding week, area coverage increased under Rice, Pulses, Oilseeds and Sugarcane. Area coverage is marginally less under Jute & Mesta (0.01 lakh ha), Cotton (0.34 lakh ha) and Coarse -cum- Nutri Cereals (6.24 lakh ha), a release from Ministry of Agriculture said.
Self-proclaimed 'Elon fanboy' builds Tesla position worth over $4.6 bn
A Google search won't bring up a lot other than that he is a graduate from Columbia University and New York Law School and he founded the SHI International Corp, a large IT company.
Amazon announces 'Great Indian Festival' from Oct 4
The company said that Amazon GIF 2021 is dedicated to lakhs of small sellers, including over 75,000 local shops from 450 cities, offering their unique selection of products to customers across the country.
Ford India head Anurag Mehrotra quits
It is learnt from sources that Balasundaram Radhakrishnan, Director (Manufacturing), Ford India Private Ltd, has been appointed as the Transformation Officer.
India's forex reserves decline by over $1.4 bn
The Reserve Bank of India's (RBI) forex reserves declined to $639.642 billion from $641.113 billion reported for the week ended September 10. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF. On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $892 million to $577.986 billion.
Sensex gained 2.4x from 2020 lows to 60K-mark, further rise expected
The 30-scrip sensitive index touched an intra-day low of 25,638.9 points on March 24, 2020, the first day of the Covid-induced lockdown. On Friday, it reached an intra-day high of 60,333 points. On a closing basis, it gained 125 per cent from 26,674 points on March 24, 2020 to 60,048.47 points on Friday. It took the market just 42 days to accumulate the last 5,000 points.
China bans cryptocurrencies, mining projects
Up to three-quarters of the world's supply of bitcoin has reportedly been produced in China, but the process consumes vast amounts of electricity, and energy produced by coal-burning plants is a massive contributor to air pollution, Global Times reported. Over the past several months, several large virtual currency mining centres in China.
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