BUSINESS
Accelerated Recovery: India's Q1FY22 GDP growth zooms 20.1% YoY
In 2020, the pandemic had battered the country's GDP which had contracted by 24.4 percent during Q1FY21. India's GDP at constant 2011-12 prices has been estimated at Rs 32.38 lakh crore, as against Rs 26.95 lakh crore in Q1FY21.
Banking, finance stocks lift the market to new highs
The surge came on the back of healthy buying in banking and finance stocks. However, selling pressure in metal and IT stocks capped the gains. Sensex has touched an all-time high of 57,918.71 points, while Nifty has hit a record high of 17,225.75 points.
Sanjiv Puri's 'Next' strategy drives ITC into future-ready lane with smart innovation in FMCG, Hotels, Agri
This new strategy is aimed at ensuring that the ITC remains future-oriented, consumer-centric, and nimble to create enduring value for stakeholders, something that the financial results are mirroring with FMCG and agriculture contributing nearly half of its total revenues in the April-June quarter.
Fuel prices cut by 15 paise per litre after a week's break
Petrol and diesel prices were cut by 15 paise per litre to Rs 101.34 and Rs 88.77 a litre respectively in Delhi. Petrol was priced at Rs 101.49 a litre and diesel Rs 88.92 a litre in Delhi on Tuesday. This price level was maintained for the last seven days as OMCs decided to wait and watch the developments in the global oil market before revising retail prices.
Indian app industry cheers South Korea move to rein in Apple and Google
This Bill is the first major legislation in the world to specifically target in-app markets and payment systems, even as market giants Apple and Google are facing global criticism for mandating the in-app use of their proprietary payment systems, and charging commissions of up to 30 per cent on the sale of apps and subscriptions through the app stores.
'US economic recovery slowing due to Delta variant spread'
"In the United States, infections have increased to a rate of 157,000 per day, with each loss of life and the use of medical resources and foregone activity taking their toll on economic progress," Brusuelas said in a blog post, adding that's a significant increase from 12,000 Covid-19 cases per day in June. Brusuelas noted that "the refusal of a segment of the US population to accept vaccination" is restraining overall economic activity and the full reopening of the economy, as around 62 per cent of the total American population over 12 have been fully vaccinated so far," reports Xinhua news agency.
India will not be impacted US Fed's likely tapering: CEA
"The fact that our macroeconomic fundamentals whether it's inflation, whether it's the current account deficit, whether it's our forex reserves, you know, and and all the others, metrics that I showed you, they clearly indicate that our macroeconomic fundamentals are very, very strong. I absolutely do not think that there should be that much of a concern," K.V. Subramanian told the media.
Law must save home buyers from builder-planner 'unholy nexus': SC
The top court made this observation while directing the demolition of 40-storey twin-towers of Emerald Court, constructed by real estate company Supertech in Noida. A bench of Justices D.Y. Chandrachud and M.R. Shah said construction of twin towers was violative of the minimum distance requirement, and emphasised that the purpose of stipulating a minimum distance is a matter of public interest in planned development.
RBI to fine tune liquidity operations whenever needed
Addressing the FIMMDA-PDAI Annual Conference, he said that the Reserve Bank will endeavour to ensure adequate liquidity in the G-sec market as an integral element of its effort to maintain comfortable liquidity conditions in the system. Noting that government securities are a distinct asset class, Das said that it is important to appreciate the role the G-sec market plays.
Market at new record high levels; Sensex up 662 points
The journey to the new high was achieved in record time. The BSE Sensex crossed the 57,000-mark and touched a record high of 57,625.26 points, while the Nifty50 on the National Stock Exchange hit the 17,000-level for the first time in its history. It hit an all-time high of 17,153.50 points during the day. It was the fastest 1,000-point gain for Nifty50.
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