BUSINESS
Changing Dynamics: Smaller fund houses outpace major players in 2021
In tandem with the rise in the equity market, small players made giant strides during the year. Equity schemes of fund houses like Quant Mutual Fund, ITI Mutual Fund, PPFAS Mutual have been among the best performing schemes so far in the year.
Hurun India Future Unicorn List 2021: Sachin Bansal’s Navi, Tata-backed Curefit among 32 who make the list
Bouncing back from the Covid slump, the Indian economy has started growing at a brisk pace once again. India’s GDP grew at 20.1% in the quarter ending June 2021. Flipkart co-founder Sachin Bansal's Navi Group -- a financial service company -- found a place at 11 in the list.
HDFC Life to acquire Exide Life for Rs 6,687 Cr
The process for merger of Exide Life into HDFC Life will be initiated on completion of the acquisition. The entire process, including the acquisition and subsequent merger, is subject to obtaining the relevant regulatory and other approvals. The Boards of three companies approved the transaction on Friday morning.
Reliance will create and offer fully integrated, end-to-end renewables energy ecosystem to India: Mukesh Ambani
Speaking at the International Climate Summit 2021, Ambani said it will be amongst the largest integrated renewable energy manufacturing facilities in the world. This complex will have four Giga Factories, which cover the entire spectrum of renewable energy. The first will be an integrated solar photovoltaic module factory. The second will be an advanced energy storage battery factory.
No revision in petrol, diesel prices for 2nd consecutive day
Accordingly, the price of petrol and diesel remains unchanged at Rs 101.34 and Rs 88.77 per litre in Delhi, as per Indian Oil Corporation, the country's largest fuel retailer. In Mumbai, the petrol price is stable at Rs 107.39 per litre on Friday while diesel rates also remain unchanged at Rs 96.33 a litre.
Sensex touches 58,000 for first time in history
Sensex has hit a record high of 58,115.69 points. Rise in the global markets lifted the Indian indices, analysts said. Healthy buying was witnessed in auto stocks. Around 10.10 a.m., Sensex was trading at 58,050.25, higher by 197.71 points or 0.34 per cent from its previous close of 57,852.54.
Expo 2020 Dubai: India to showcase country's march to becoming $5T economy
The six-month Expo 2020 Dubai will start on October 1, 2021 and go on till March 2022. According to Commerce Secretary B.V.R. Subrahmanyam: "The India Pavilion at Expo 2020 Dubai will showcase resurgent India's march to becoming a $5 trillion economy. "India's exceptional fightback against Covid-19 and the country's emergence as a global business hub presenting huge opportunities for the world will be the overarching theme of India's participation at Expo 2020 Dubai."
JDMart could become the growth engine for Just Dial
The report said that Just Dial has developed a superior platform against the backdrop of an interactive user interface along with robust depth and breadth of B2B product offerings. It said "Our analysis suggests around 80-85 percent of Leader's top-100 sellers/listings across 100 randomly chosen product/categories are present on JDMart and many have detailed product information, suggesting listings of superior quality."
Karvy Stock Broking CEO, CFO arrested in bank loan default case
The Central Crime Station (CCS) of the Hyderabad police made the arrests as part of the investigations into a case of defrauding IndusInd Bank to the tune of Rs 137 crore. Both the accused were produced before a court, which sent them to judicial custody for 14 days.
UK announces $1.2 billion for green projects in India
Apart from the package, Sunak and Sitharaman announced the joint launch of the Climate Finance Leadership Initiative (CFLI) India partnership to mobilise private capital into sustainable infrastructure in India. The announcements were made at the 11th Economic and Financial Dialogue (EFD) between the UK and India.
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