BUSINESS
'FDI to developing Asia defied pandemic, grew by 4% in 2020'
"Despite the pandemic, FDI to and from the region remained resilient in 2020. Developing Asia is the only region recording FDI growth, accounting for more than half of global inward and outward FDI flows," said UNCTAD's director of investment and enterprise, James Zhan. "FDI prospects in 2021 for Asia are more favourable than the global average, because of recovery in trade, manufacturing activities and a strong GDP growth forecast," he added.
Maruti Suzuki to hike prices in next quarter
In a regulatory filing, the company said that over the past year the cost of the company's vehicles continued to be adversely impacted due to increase in various input costs. "Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise," it said.
Increased competition, lack of bidding may create stress in road sector
According to a ICRA report, with the entry of new players in the road sector, competition had heated up with bidders quoting a discount of as high as 30-35 per cent to the NHAI's base price. The BOT (HAM) has also witnessed heightened competition resulting in average premium to NHAI cost reducing to around 15 per cent from 25-30 per cent earlier and even negative O&M bid in some cases.
Progcap raises $25mn funding from Sequoia Capital and Tiger Global
The company will deploy these funds to enhance its services and expand the brand's presence across existing geographies. The firm will also use the capital to scale up the team, strengthen the technology differentiation and diversify into new product offerings to fortify its vision of building a full stack digital platform for last mile retailers.
Retail business likely to be RIL's next growth engine
A Goldman Sachs report noted that after growing 5x over FY16-FY20, RIL's core retail revenue growth has taken a pause in FY21 due to Covid related macro headwinds. "However, we believe retail business (including e-commerce) is set to be the next growth engine for RIL, with potential for retail EBITDA to grow 10x over the next 10 years," it said.
Reliance Retail best placed to win share in fresh food, rapidly accelerate store rollout
Reliance Retail is best placed to win share in fresh food, rapidly accelerate store rollout and target the widest assortment through multiple formats and channels, Goldman Sachs said. Organised grocery retail has seen two major shifts due to the pandemic-a shift to online and omni-channel and entry into large, new categories, which pre-Covid had been considered less profitable, like fresh food and dairy, the report added.
KKR invests $625 million for controlling stake in Vini Cosmetics
KKR, a leading global investment firm, and Vini Cosmetics, a leading branded personal care and beauty products company on Monday announced the signing of a definitive agreement pursuant to which the Company's Founder Group will sell a majority stake in the Company to KKR for approximately $625 million (Rs 46 billion).
Sensex trims losses after losing 600 points
The key Indian equity indices have somewhat recovered from the initial losses, however, they are still in the red. The BSE Sensex fell as much 604.26 points during the initial trade to touch an intra-day low of 51,740.19. At around 10.05 a.m., it was trading at 52,042.18, lower by 302.27 points or 0.58 per cent from its previous close of 52,344.45.
Import of US blueberries to India increases: USHBC
In a statement, the USHBC said that imports of US blueberries in all forms have increased since 2009, and the council intends to continue to develop new opportunities for Indian consumers to enjoy the flavour and unique health benefits of blueberries and blueberry ingredients. It noted that US blueberries not only have a reputation for consistent quality, but also offer many nutritional and health benefits.
Reliance Group market capitalization surges 1,000% to nearly Rs 8K cr
The market cap of the group, which stood at Rs 733 cr in March, jumped to Rs 3,890 cr in May 2021, and Rs 7,866 cr on the last trading day of this week i.e. June 18, 2021. The market capitalization of the group companies, Reliance Infrastructure, Reliance Power, and Reliance Capital has more than doubled over the last 20 trading days.
Don't Miss
Advertisement