BUSINESS
Adani Total up 921%, Adani Enterprises up 890% vs 60% for Nifty in last 1 year
Adani Group stocks have been scorchers in the stock market in the last year before they started unravelling in the last three days and have been going down ever since. Adani Group investors have seen wealth erosion of Rs 1.10 lakh crore in the last three trading sessions. Adani Enterprises was down 5.82 per cent at Rs 1449.30.
RITES posts 2.4% rise in Q4 net profit
The company had reported a net profit of Rs 131 crore in Q4FY20. During the quarter under review, the total revenue of the company increased by 6.1 per cent to Rs 632crore against Rs 596 crore in Q4FY20. RITES Ltd Chairman and Managing Director Rajeev Mehotra said: "Given the testing scenario, our focus remained on project delivery and execution which helped us to register Q-o-Q operational revenue growth in every quarter of FY21.
Net direct tax collections for FY22 grows over 100% till mid-June
According to the Finance Ministry, tax collections for FY22 up to June 15 have registered a growth of over 100 per cent at Rs 1,85,871 crore, compared to Rs 92,762 crore over the corresponding period of the preceding year.
Nikhil Kamath, India's youngest billionaire cheated in charity chess match: Report
In 2000, a 14-year-old Nikhil Kamath, the son of a bank manager and music teacher, dropped out of school and got a job. In 2010, he co-founded Zerodha, a discount brokerage outfit. By 2019, with no external financing, Zeroda became the largest retail stock broker in India. Current daily turnover has reached $10 billion.
Stock Talk: Top Cement Companies on Sensex Today
India is the second largest cement producer in the world and accounted for over 7% of the global installed capacity. India’s overall cement production capacity was nearly 545 million tonnes (MT) in FY20.
Brent may test $78-$80 levels, support at $68-$70 levels: Emkay
But the rise may be, to a certain extent, limited by the strength in the US Dollar against other currency majors, the study added. One major factor that dominated oil markets is the possibility of a nuclear deal between the US and Iran, and also better relations between the two countries, based on the reported talks between the two parties.
Sensex may touch 58,500-level by March 2022, Indian equity market showing 'unbreakable nature': Julius Baer
Julius Baer’s MD and Head (research) Mark Matthews emphasised the strong nature of the Indian market and said that company earnings would ultimately drive the share price at the market. Domestic Indian index, Nifty and Sensex have been touching new highs even after the second wave of covid, showing strong trends in the share market.
Google Pay expands cards tokenisation with more Indian banks
Google Pay has now added debit cards by SBI, IndusInd Bank and Federal Bank and Credit cards by IndusInd Bank and HSBC India to its slate. "We are hopeful that the tokenisation feature will further encourage users to transact securely and safely in the current times and expand merchant transactions both online and offline," said Sajith Sivanandan, Business Head: Google Pay and NBU-APAC.
ICICI Bank launches 'ICICI STACK for Corporates'
The wide range of 360-degree solutions enables corporates to seamlessly meet all banking requirements of their ecosystem in an expeditious and frictionless manner. With this launch, ICICI Bank aims to be the preferred banking partner for companies and their entire ecosystem. The environment in which corporate customers operate is becoming increasingly dynamic and competitive with accelerated digital adoption transforming every business.
Fuel price hiked again; petrol nearing century mark across country
With this rise, petrol prices have reached very close to hitting the century-mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per litre mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana, Andhra Pradesh. On Wednesday, the oil marketing companies (OMCs) raised the price of petrol and diesel between 12-25 per litre across the four metros.
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