BUSINESS
Tata Sons arm to acquire majority stake in Tejas Networks
Panatone Finvest will buy a 43.3 per cent stake in Tejas Networks for Rs 1,850 crore and along with other Tata Group companies, Panatone would make a public announcement to acquire up to another 26 per cent stake in Tejas. Tejas Networks has executed definitive agreements with Panatone. Tejas said that it sees a very large opportunity in the telecom sector both in India and global markets.
Pandemic pushes digital payments, RBI index up 30%
An indicator to faster adoption of online payment medium is the Reserve Bank of India's Digital Payment Index. After moving at moderate pace over the years, the index has jumped sharply 30 per cent between March 2020 and March 2021. The pandemic is one of the reason while people are increasingly preferring digital payment mechanism over physical mode.
'India's power demand could grow over 5% this fiscal'
Industry demand is expected to prop up India's energy consumption by over 75 billion units (BUs) this fiscal, or 5 per cent on-year - the fastest growth in the past three fiscals, it said. "The heightened demand will be met largely by thermal generation companies (gencos) as generation from renewable, hydro and nuclear remains small at less than 25 per cent of the overall generation mix.
Global cues, value buying lift equities; metal stocks' shine
Accordingly, the gains came on the back of recovery in the Asian markets -- especially the Hongkong and Chinese indices - and a day after US Fed kept its interest rates unchanged. Besides, expectations of healthy quarterly results and encouraging response to metal stocks pushed the markets higher. Around 2.30 p.m., Sensex was trading at 52,682.39, higher by 238.68 points or 0.46 per cent from its previous close.
NSE's new investor registrations crosses 50 lakh mark
New investor registrations witnessed a 2.5 times growth in four months of FY22, compared to the corresponding period of the previous fiscal. "From the geographical presence point of view, 36 per cent new investors registered are from north Indian states, While west Indian states accounts for 30 per cent, southern Indian states accounts for 22 per cent and the remaining 12 per cent are from the east Indian states," the NSE said in a note.
PUBG developer Krafton to raise $3.7 bn via IPO next month
The listing, scheduled for August 10, is expected to be one of the largest ever on the local bourse. Samsung Life Insurance holds the record for its 4.89 trillion won IPO in 2010, reports Yonhap news agency. While Krafton had initially sought to raise up to a record 5.6 trillion won, it lowered its pricing band after financial authorities requested revisions to its plan amid controversy of overvaluation.
IFSCA proposes capital market intermediary regulations for IFSC
As part of the process, the Authority has issued a consultation paper on the proposed Intermediaries Regulations and invited comments and suggestions on it by August 18, 2021.The proposed IFSCA (Capital Market Intermediaries) Regulations, 2021 (Intermediaries Regulations) provide for regulatory requirements in respect of registration, obligations and responsibilities.
LG bets on home appliance, TV sales after strong Q2 results
The South Korean tech giant said its operating profit spiked 65.5 percent to 1.11 trillion won ($968 million) in the April-June period, its best second-quarter performance since 2009. Sales jumped 48.4 percent on-year to 17.1 trillion won over the cited period, its largest ever for any second quarter. The figures were in line with its earnings guidance announced earlier this month.
Noida allots land parcel to Adani Enterprises in Sector 62
This is part of the Uttar Pradesh policy for setting up institutional services in Noida in IT and ITES sectors to promote investment and employment. As per a notification, Adani Enterprises will make investments of Rs 2,400 crore within the upcoming facility at Sector 62, Noida which will generate employment for 1,350 persons. In addition, the Noida authority has allotted another 16,350 sq metre land parcel in sector 145 to MAQ India Pvt Ltd to for an IT facility.
Sensex up 200 points; IT, metal stocks rise
Healthy buying was witnessed in metal and IT stocks. Rise in the index heavyweights Reliance Industries and HDFC Bank supported the Sensex. Around 10.10 a.m., Sensex was trading at 52,661.58, higher by 217.87 points or 0.42 per cent from its previous close of 52,443.71.
Don't Miss
Advertisement