BUSINESS
Covid resurgence subdues equities, auto, metal stocks fall
"Markets have traded on negatively after facing the resistance at higher levels in the market. Traders have taken the cautious route in the market after a lot of agencies have revised their GDP growth target after the second wave in India," said Gaurav Garg, Head of Research at CapitalVia Global Research.
Fuel prices rise sharply again after day's break
In Delhi, petrol now costs Rs 92.34 per litre and diesel is priced at Rs 82.95 per litre up from yesterday's level of Rs 92.05 and Rs 82.61 a litre respectively in the national capital. Across the country as well the petrol and diesel prices increased on Friday but its quantum varied depending on the level of local levies in respective states.
S Korea's logic chip capacity to further shrink as US expands
South Korea was expected to represent 20 percent of global wafer capacity of 10-nanometer (nm) and below nodes this year to rank second in the sector, but its share was projected to decline to 19 percent in 2025 and 17 percent in 2027 to lose its runner-up spot, according to the latest report from market researcher Counterpoint Research.
BSE's Q4FY21 consolidated net profit rises over Rs 31 cr
According to the company, the Q4 consolidated net profit increased to Rs 31.75 crore from Rs 1.91 crore reported for the Q4FY20. In terms of the financial year, the BSE reported a rise of 17 per cent in its consolidated net profit to Rs 141.70 crore from Rs 120.61 crore reported for FY20.
Economic normalcy in India by Aug-Sept, predicts CLSA
India may see a peak in the 7DMA of new cases by June. This peak in Maharashtra may have already happened, while Haryana, Delhi and Andhra Pradesh are next in line, CLSA said. Using the mid-date of the predicted range, 11 of these 16 states may see a peak of this wave by the end of June. These make up 47 per cent of India's population and 65 per cent of GDP.
Rebranded: GoAir becomes ultra-low cost airline Go First
Accordingly, the airline said that at the heart of this revamp is the full embrace of the ultra-low-cost airline model. The airline cited factors such as single aircraft type across its fleet has positioned it to operate the ultra-low-cost model. "To communicate this change, Go First also dons a rebranded identity. With this change, Go First is poised for its next phase of growth as an ultra-low-cost carrier," the airline said in a statement.
'Compulsory licensing' to alleviate shortage may be counterproductive: FICCI
"Further, FICCI strongly believes that in the larger and long-term interest of the country and its citizens, India should not rush to do anything unilaterally that may undermine its present efforts to arrive at a 'multilateral solution' on this issue," the industry body said in a statement.
Job scenario worsens, unemployment rate shoots up to 8% in April
"April 2021 turned out to be worse than expectations. We had expected the labour participation rate to stabilise at its March 2021 level. The LPR had dropped sharply in March already after a modest fall in February. But, the LPR fell for a third consecutive month in April," CMIE's CEO Mahesh Vyas said.
Lilly inks three new pacts to expand availability of baricitinib drug
Lilly received permission for restricted emergency use by the Central Drugs Standard Control Organization (CDSCO), Ministry of Health, for baricitinib to be used in combination with Remdesivir for the treatment of suspected or laboratory-confirmed Covid-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO).
CAIT asks Piyush Goyal to stop delivery of non-essential items by e-commerce companies
The CAIT has also sent similar communications to Chief Ministers of all States urging them to take immediate cognisance of this violation by e-commerce portals. The CAIT said that the sole purpose of the lockdown is to limit human-to-human interaction and reduce exposure of the general population to the COVID-19 virus
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