BUSINESS
PayU India integrates with Zoho Books for seamless payments
"PayU's vision is to unlock growth opportunities for all businesses and help them prosper in an increasingly digitised world. We are working towards this by building payment solutions, as well as partnering with organisations who share this vision," said Noopur Chaturvedi, Country Head, Emerging Businesses, PayU India.
Amazon may acquire film giant MGM for $9B: Report
While The Information reported Amazon is in discussions to acquire MGM Holdings between $7 billion to $10 billion, Variety said in its report on Monday that $9 billion is the amount MGM was hoping to zero in. MGM owns a major film library, with interests in the long-running James Bond franchise as well as other well-known titles such as Rocky and Pink Panther.
India consumer internal SSD market surges to record high in Q1
While PCIe/NVMe SSD shipments registered 433 per cent (YoY) growth on a small base, portable SSD market shipments were up 64 per cent in the first quarter of the year, according to market research firm CMR's 'India Hard Drive Market Review for Q1 CY2021'. In the overall consumer internal SSD market, WD captured 14 per cent market share
Equity indices open in green, Sensex reclaims 50,000 mark
It surged as much as 612 points to touch an intra-day high of 50,192.86. Around 9.20 a.m., Sensex was trading at 50,124.56, higher by 543.83 points or 1.10 per cent from its previous close of 49,580.73. It opened at the day's low of 49,986.68 points. The Nifty50 on the National Stock Exchange was trading at 15,100.80, higher by 177.65 points or 1.19 per cent from its previous close.
Hong Kong Disneyland posts $348mn net loss
Its revenue was down 76 per cent to HK$1.4 billion from October 2019 to September 2020, Hong Kong Disneyland said in a statement on Monday. Earnings before interest, taxes, depreciation and amortization were negative HK$1.5 billion, Xinhua news agency reported. During that fiscal year, its park attendance was 1.7 million, a drop of 73 per cent from a year ago.
Health expenditure of Indians to surge, impact consumption spending
It noted that although CPI inflation slowed to 4.29 per cent in April 2021 from 5.52 per cent in March 2021, primarily due to easing food prices, as the pandemic rages through India, it is worthwhile to look beyond the headline inflation. In particular, rural core has now jumped to 6.4 per cent in April 2021 and would rise further in May 2021. Increasing health expenditure because of the pandemic is having a meaningful impact in rural areas.
Demand, employment severely hit by 2nd wave of Covid: RBI
The RBI Bulletin for May 2021 noted that the real economy indicators moderated through April-May 2021. "The biggest toll of the second wave is in terms of a demand shock - loss of mobility, discretionary spending and employment, besides inventory accumulation, while the aggregate supply is less impacted," it said. It, however, said that the resurgence of Covid-19 has dented, but not debilitated economic activity in the first half of Q1 2021-22.
Lower Covid numbers lift equities, banking, auto stocks shine
Both key indices kick-started the week on a positive note with a gap up opening and ended with one of the biggest single day gains in more than a month. Globally, stocks traded mixed on Monday after China reported consumer spending grew more slowly than expected in April.
Home sales across top 7 cities up 21% in Q1 2021: PropEquity
However, the new supply or launches of housing units decreased by 40 per cent in the same period to 59,737 units in Q1 2020 as against 1,00,343 units.Bengaluru, Chennai, Hyderabad, MMR, NCR, and Pune are the cities where home sales witnessed a growth in Q1 2021 versus Q1 2020 at 13 per cent, 29 per cent, 16 per cent, 26 per cent and 6 per cent, respectively.
Bharti Airtel reports Q4 net profit of Rs 759 cr
During the same period of FY20, the company had reported a loss of 5,237 crore. Its revenues for the period under review rose 17.6 per cent to Rs 25,747 crore. India revenue was at Rs 18,338 crore increased by 17.5 per cent YoY on a comparable basis and 9.6 per cent YoY on a reported basis. Mobile revenues grew by 19.1 per cent YoY on comparable basis on account of the improved realizations as well as strong customer addition.
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