BUSINESS
Tata Steel Mining declared successful resolution applicant for Rohit Ferro-Tech
"Tata Steel Mining Limited (TSML), a wholly-owned subsidiary of Tata Steel Limited has been declared as the successful resolution applicant by the Committee of Creditors for the acquisition of Rohit Ferro-Tech Limited ('RFT') on June 5, 2021, subject to it obtaining necessary regulatory approvals including approval from the National Company Law Tribunal (NCLT)," Tata Steel said in a regulatory filing.
Equity indices trade marginally higher, auto stocks rise
Around 10.10 am., Sensex was trading at 52,137.85, higher by 37.8 points or 0.07 per cent from its previous close of 52,100.05. It opened at 52,231.38 and has so far touched an intra-day high of 52,279.55 and a low of 52,054.76 points. The Nifty50 on the National Stock Exchange was trading at 15,702.95, higher by 32.70 points or 0.21 per cent from its previous close.
DHFL logs Q4 net profit of Rs 96.75 cr
During the same quarter of FY2019-20, the bankrupt NBFC had posted a consolidated net loss of Rs 7,507.01 crore. Its total revenue from operations during the fourth quarter of FY21 was Rs 2,034.53 crore. For the financial year 2020-21, DHFL reported a consolidated net loss of Rs 15,051.17 crore.
Musk blasted by 'Anonymous' hackers after cryptic crypto tweets
According to the New York Post, the politically charged hacker group posted a video blasting Musk for "constantly trolling" cryptocurrency markets. "For the past several years you have enjoyed one of the most favourable reputations of anyone in the billionaire class because you have tapped into the desire that many of us have to live in a world with electric cars and space exploration," a person with a digitally altered voice said in the video, posted to Twitter on Saturday.
G7 sets minimum tax of 15% for MNCs
In a tweet later, she added that global minimum tax would end the race-to-the-bottom in corporate taxation, and help the global economy thrive, by levelling the playing field for businesses and encouraging countries to compete on positive bases, such as educating and training their work forces and investing in research and development and infrastructure.
Investors of Franklin Templeton's shut schemes to get Rs 3,205 cr
So far, the fund house has distributed Rs 14,572.34 crore among the concermed investors in three tranches. "Rs 3,205.25 crore of cash is available for distribution as of June 4, 2021 and is being paid to investors in the week commencing June 7, 2021, bringing the total amount distributed to Rs 17,777.59 crores," Sanjay Sapre, President, Franklin Templeton Asset Management (India) Pvt. Ltd, said in a letter to the investors.
FPIs return, invest nearly Rs 8k cr in Indian equities last week
FPIs made a net investment of Rs 7,967 crore during the week, as per NSDL data. The surge in foreign funds have also led the Indian stock market to touch new highs. The Nifty50 on the National Stock Exchange recorded a record high of Rs 15,733.60 during the week.
Enterprise services emerge as 'new value engine' for telcos: Report
Noting that corporates are adopting cloud solutions and traditional networks are not purpose-built for it, it said that these new solutions, which run on internet WAN, are challenging the conventional hub and spoke model. "Enterprise services are emerging as new value engine for telcos amid rise in demand for services in the wake of digital transformation," it said.
Petrol prices cross Rs 95/litre in Delhi, Rs 101/litre in Mumbai
In Delhi, the fuel was sold for Rs 95.03 a litre, up from Rs 94.76 on Saturday. The price of petrol in Mumbai crossed the Rs 101-a-litre mark at Rs 101.25 per litre. In Chennai and Kolkata, the fuel was sold for Rs 96.47, Rs 95.02, respectively, higher than the levels on Saturday. Similarly, diesel prices also rose across the four cities.
Jack Dorsey's firm Square to invest $5M for solar-powered Bitcoin mining
"We hope to show that a renewable mining facility in the real world is not only possible but also prove empirically that Bitcoin accelerates the world toward a sustainable future," Blockstream Mining said in a statement on Saturday. Square tweeted that it was "committed to driving further adoption and efficiency of renewables within the Bitcoin ecosystem."
Don't Miss
Advertisement