BUSINESS
'Inquiry has to be conducted': SC junks Flipkart, Amazon plea against CCI probe
A bench headed by Chief Justice N.V. Ramana and comprising justices Vineet Saran and Surya Kant said: "Big organisations like you (Flipkart and Amazon) should volunteer for inquiry... Inquiry has to be conducted." The bench declined to interfere with the orders of the Karnataka High Court, which refused to interfere with the preliminary enquiry ordered by the CCI into their alleged anti-competitive practices.
Retail holding at all time high while MFs reduce stake
In Rs value terms too, retail holding in companies listed on NSE reached an all-time high of Rs 16.18 lakh crore from Rs 13.94 lakh crore on March 31, 2021, an increase of 16 per cent (Sensex and Nifty rose by 6.01 and 7.02 per cent respectively during this period). According to Pranav Haldea, Managing Director, PRIME Database Group, a buoyant secondary market and a flurry of new listings have helped in channelising retail savings into the capital market.
Oil price fall provides no relief to fuel consumers, OMCs deny upto Rs 2 per litre price cut for petrol and diesel
Even though, global crude oil prices have fallen in the last couple of weeks to reach below $ 70 a barrel from a high of $ 77 reached early last month, OMCs have not revised petrol and diesel rates downwards but have kept its prices static for the past 23 days. Even on Monday petrol and diesel prices remained at the same level (Rs 101.84 for petrol and Rs 89.87 for diesel in Delhi) that was reached on July 17.
Residential sales rise 75% in first half of 2021: CBRE
Pune led sales activity with an approximately 26 per cent share, followed by Mumbai (19 per cent). It was closely followed by Hyderabad and Delhi-NCR with 18 per cent and 17 per cent shares respectively. On a quarter-on-quarter basis housing sales grew by 73 per cent on a q-o-q basis across India's top seven cities in Q42020, on the back of measured policies announced by the central and state governments.
India smartphone market set to bounce back in Q3: Report
"Regional lockdowns, during April and May, in response to the second pandemic wave contributed to the decline. However, shipments bounced back in June. Xiaomi replaced Samsung at the top in terms of overall shipments for the second time in the last three years," said Shipra Sinha, Analyst-Industry Intelligence Group, CMR. For the entire year, CMR estimates point to a potential 5-8 per cent (YoY) growth in smartphone shipments.
Edtech firm UpGrad becomes new unicorn at $1.2 bn valuation
The company raised fresh funds from Temasek, IFC (International Finance Corporation, a sister organisation of World Bank) and IIFL. "We are very focused on our path to being in the top three-five companies globally in edtech and serving the one billion workforce across the age group of 18-60. We are pleased with the investor interest ever since we opened up for a fundraise, and had our maiden raise from Temasek.
Retail holding at all time high while MFs reduce stake
In Rs value terms too, retail holding in companies listed on NSE reached an all-time high of Rs 16.18 lakh crore from Rs 13.94 lakh crore on March 31, 2021, an increase of 16 per cent. According to Pranav Haldea, Managing Director, PRIME Database Group, a buoyant secondary market and a flurry of new listings have helped in channelising retail savings into the capital market.
Volunteer for inquiry: SC refuses to stop CCI probe against Amazon, Flipkart
A bench headed by Chief Justice N.V. Ramana and comprising justices Vineet Saran and Surya Kant said: "Big organizations like you ( Flipkart and Amazon) should volunteer for inquiry... Inquiry has to be conducted." The bench declined to interfere with the orders of the Karnataka High Court, which refused to interfere with the preliminary enquiry ordered by the CCI into their alleged anti-competitive practices.
Stock specific action lift equity indices; Banking stocks gain
However, gains were capped as Asian shares fell, while rising Delta virus cases made investors' nervous. Amongst sectors, banking stocks gained the most while oil and gas and realty were the main loser. The Sensex at around 12.15 p.m. traded at 54,324.06, higher by 46.34 points or 0.085 per cent from its previous close. The Nifty50 traded at 16,244.60, higher by 6.40 points or 0.039 per cent from its previous close.
Digital transactions grow 80% in last 250 days: Report
Businesses, especially from tier 2 and 3 cities, have been a major boost for digital payments exhibiting a growth of 40 per cent from the first 250 days (March 25, 2020 to November 29, 2020) and the next 250 days (November 30, 2020 to August 6, 2021), according to the report by full-stack financial solutions company Razorpay.
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