BUSINESS
95% realtors fear project delays due to 2nd Covid wave, seek urgent relief
Over 95 per cent developers in the country expect delays in project completion due to the second wave of Covid-19, according to a survey by the Confederation of Real Estate Developers' Associations of India (CREDAI).
Sensex, Nifty end near record closing highs
Healthy buying was witnessed in metal, finance and healthcare stocks. The BSE Sensex closed at 52,300.47, higher by 358.83 points, or 0.69 per cent, from its previous close of 51,941.64. It had opened at 52,143.90 and touched an intra-day high of 52,346.35 and a low of 51,957.92 points.
Phased unlock: FY22 GDP growth projected at 8.5%: ICRA
India's GDP growth has been projected at 8.5 per cent in FY22, said ratings agency ICRA.
The year-on-year (YoY) growth of GDP and gross value added (GVA) at basic prices (at constant 2011-12 prices) is expected to reach 8.5 per cent and 7.3 per cent respectively, in FY2022.
Hisense to set up TV manufacturing unit in India
The company said that it will set up a local manufacturing plant with a capacity to produce two million TVs within the next two years. "Hisense entered the Indian market last year and got a phenomenal response from the consumers. To meet the growing demand for our television range we are ramping up our local manufacturing capabilities and will be setting up a TV manufacturing plant of 2 million capacity within the next two years," said Rishi Tandon.
Indian online fashion industry grows 51% in FY21: Report
Tier 3 cities and beyond reported the highest order volume growth of 192 per cent, while kids' wear has been the biggest gainer with over 200 per cent order volume growth online, according to the 'Fashion e-commerce Report' by Unicommerce. The rising adoption of D2C (direct-to-consumer) among fashion brands has helped them build a strong connection with the consumer leading to higher growth.
Covid disruptions, gas price crash pushes PLL out of $2.5-bn deal with Tellurian
Government sources said that with low spot LNG prices and gas widely available in the market, it would make little sense to sign an agreement committing to pay on sea price of over $ 4.5 per mmBtu for 40 years for the gas. The delivered price of gas would be even higher. Thus, there was no need to pursue the deal at this juncture they said.
Vehicle retail sales plunges sequentially in May: FADA
India's overall vehicle registrations declined by 54.79 per cent on a sequential basis in May 2021.
Similarly, the data released by the Federation of Automobile Dealers Associations (FADA) showed a decline of 70.60 per cent during the month under review from the level of May 2019.
Tata Digital to acquire majority stake in 1MG
1MG operates three state-of-the-art diagnostics labs, has a supply chain covering over 20,000 pin codes across the country and through its subsidiaries is also engaged in the business of B2B distribution of medicines and other healthcare products. The investment in 1MG is in line with Tata Group's vision of creating a digital ecosystem that addresses consumer needs across categories in a unified manner.
Stock Talk: Top 5 Hospital and Healthcare Stocks On Market Today
The hospital industry in India, accounting for 80% of the total healthcare market, is witnessing a huge investor demand from both global as well as domestic investors.
Equity indices in green; metal stocks rise
Healthy buying was seen in metal and healthcare stocks. Around 10.10 a.m., Sensex was trading at 52,094.60, higher by 152.96 points or 0.29 per cent from its previous close of 51,941.64. It opened at 52,143.90 and has so far touched an intra-day high of 52,152.55 and a low of 51,957.92 points.
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