BUSINESS
Want Paytm in my portfolio, says valuation guru Aswath Damodaran
Aswath Damodaran, the award-winning Professor of Finance at the Stern School of Business at New York University, recently said in an interview with an Indian news channel that he would place his bets on Paytm. "Paytm has some real potential because I think this is a business which is huge, payment processing and financial services is huge.
India's merchandise exports to touch $98 bn during Q2 of FY22
The rise in India's exports could be attributed largely to the low base effect, pick-up in growth in advanced economies and the resultant increase in global import demand, India Exim Bank said. Increase in commodity prices have also contributed to the increase in India's exports. Forecast of growth in India's total merchandise exports and non-oil exports are released by India Exim Bank on a quarterly basis.
FPIs net investment of Rs 7,575 cr in September so far
This week, both the key Indian equity indices scaled new highs. The BSE Sensex, on Tuesday touched a record intra-day high of 58,553.07 points and the Nifty50 on the National Stock Exchange hit its all-time high of 17,436.50 points. The total net investment last year stood at Rs 16,556 crore. The inflow of FPIs continues amid a recovery in the economy and improving macroeconomic numbers.
OMCs hold fuel price revision; Brent trades above $72/bbl
In the national capital, petrol was sold for Rs 101.19 per litre. Similarly, price of the fuel in the other key metros of Mumbai, Chennai and Kolkata stood unchanged at Rs 107.26, Rs 98.96, Rs 101.62 per litre, respectively. In tandem with petrol price, diesel price also remained unchanged on Friday. In Delhi, Mumbai, Chennai and Kolkata, the fuel was sold for Rs 88.62, Rs 96.19, Rs 93.26 and Rs 91.71 per litre respectively.
Biden orders companies to require vaccination for employees
Setting an example, Biden said on Thursday that all federal employees and contractors will also be made to get vaccinated or get tested regularly. As the latest Covid-19 resurgence fueled by the Delta variant is raging among the unvaccinated, Biden announced his far-reaching programme to combat the pandemic that reaches into schools and private businesses.
Festive Prospects: Healthy demand to sustain despite challenges says Maruti Suzuki
Accordingly, PV market leader Maruti Suzuki India believes the upcoming festive season will boost buying sentiments. Lately, the sequential sales' momentum has been subdued due to rising ownership and operating cost. According to Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India: "Healthy sales momentum is expected to be maintained during the main festive period starting from mid-October. Till now, the festival of Onam saw a decent sales uptrend. However, there are uncertainties on the supply side."
'Climate-tech startups raised $1.2 bn in last 5 years'
There was a sustained growth in both volume and value of equity deals in the sector between 2016 (18 deals worth $102 million) and 2019 (58 deals worth $506 million), before a dip in 2020, owing to the pandemic. "This shows that a new wave of climate-tech is blooming in India. A total of 120 climate-tech start-ups raised this funding over 200 rounds from 272 unique investors over the past five years," said a report titled 'Early-stage Climate-tech Startups in India.
Centre releases Rs 9,871 cr to states under PDRD grant
According to the Finance Ministry, with this installment, a total amount of Rs 59,226.00 crore has been released to the eligible states as PDRD grant in the current financial year. This grant is provided to the states under Article 275 of the Constitution. "The Commission has recommended these grants to 17 states during 2021-22."
Global investors upbeat about India, investments growing: FinMin
The Monthly Economic Review for August 2021 released by the Department of Economic Affairs (DEA) on Thursday said that sanguine economic prospects continue to be catalysed by effervescent external sector indicators. "Buoyed by improvement in economic indicators post ebbing of the second wave, global investors remain upbeat about India's growth story contributing further to FDI and FPI inflows," it said.
Centre to release over Rs 56k cr as dues for all pending export incentives
The amount includes claims relating to schemes such as MEIS, SEIS, RoSL, RoSCTL amongst others relating to earlier policies and the remission support for RoDTEP and RoSCTL for exports made in the fourth quarter of FY21. In a statement, the Commerce & Industry Ministry said the benefits would be disbursed to more than 45,000 exporters, out of which about 98 per cent are small exporters.
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