BUSINESS
Retail investors can look forward to big IPOs raising Rs 1.12 lakh cr
According to market estimates, among the upcoming issues, insurance major, LIC is likely to launch a Rs 70,000-90,000 crore issue. The IPO list is dominated by financial services sector. Food delivery chain, Zomato will launch a Rs 8,250 crore IPO while private sector airline, Go First will launch a Rs 3,600 crore primary market issue.
FPIs invest Rs 15,520 cr in Indian equities in June
FPIs have made a comeback after pulling out investments for two consecutive months. In April and May, net selling by FPIs stood at Rs 9,659 crore and Rs 2,954 crore. The return of the foreign funds comes amid declining number of daily Covid-19 cases and robust Q4 earnings.
US-based Molekule plans investment for R&D in India
As the company enters India, Dilip Goswami, Co-founder, President and CTO of Molekule, said that its research team has entered into partnerships with India's top research institutes. On the question of R&D investment into, Goswami said: "Absolutely. Molekule is first and foremost a science company bringing scientific innovation out of academic research to solve the challenges of air pollution. Our team conducts extensive research and rigorous testing."
Dell leads as global server market revenue grows 12% in Q1
"The considerable increase of server investments during the quarter was also buoyed by global economic tailwinds along with increased investments targeting the modernisation of business applications, data center infrastructure, and IT operations," said Paul Maguranis, senior research analyst, Infrastructure Platforms and Technologies at IDC.
New Covid wave in Asia to worsen global chip shortage: Report
The global semiconductor shortage will persist through 2021 and is expected to recover to normal levels by the second quarter of 2022, a Gartner report said last month. Across most categories, device shortages are expected to be pushed out untill the second quarter of 2022, while substrate capacity constraints could potentially extend to fourth quarter of 2022.
Centre may front load capital provisioning for PSBs this year
Sources said that PSBs may be provided this year just after their first quarter results before October. This would be a departure from the practice of previous year when bank capitalisation was undertaken late in the year and towards the end of fiscal.
No more trading in DHFL shares starting Monday
The BSE and NSE have decided to suspend trading in the shares of Dewan Housing Finance Corporation Ltd (DHFL) from Monday. The development follows the approval of the resolution plan of Piramal Capital & Housing Finance Ltd to acquire the bankrupt company.
International prices to help steelmakers tide over 2nd Covid wave: ICRA
Besides, ICRA expects domestic demand to recover in the coming months with the gradual lifting of lockdowns and mobility restrictions in India during June 2021 and improving vaccination coverage. This trend in turn will result in a pick-up in capacity utilisation levels, the agency said.
MoS Finance counters Bengal FM's charge of ignoring dissent, says GST Council reflects collective spirit
In his tweet, Mitra accused the Centre of completely ignoring his voice at the meet, forcing him to take the unprecedented step of recording his dissent by letter. To this, the tweet from the MoS Finance showed the details of what actually transpired at the GST Council meeting organised virtually, trashing all of Mitra's allegations while making it clear that Union Finance Minister Nirmala Sitharaman has never stifled dissent in the GST Council meetings.
Byju's most valuable startup in India, 11th in the world
As per CB Insights data, as of June 2021, Byju's is the 11th most valuable startup in the world. The total number of unicorns worldwide is 708 with a valuation of $ 2319 billion. Chinese company Bytedance, the parent company of TikTok, is the most valuable startup in the world with a valuation of $140 billion.
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