BUSINESS
Blue Dart Med-Exp to test UAS for vax deliveries
Blue Dart Med-Express Consortium is part of the 'Medicine from the Sky' project in collaboration with the Government of Telangana, World Economic Forum, Niti Aayog and Healthnet Global. The Ministry of Civil Aviation (MoCA) has granted the project with necessary exemptions and rights to fly drone flights on an experimental basis in Telangana.
Indian PC market surges to 3.1M units in Q1 2021: IDC
Many companies remained fully remote or had adopted a hybrid working model to manage the growing concerns of the pandemic within the country. "As cases continued to rise, a few large enterprises procured PCs in bulk to manage their workforces, adopting these new working models for the long haul," said Bharath Shenoy, market analyst, PC Devices, IDC India
India smartphone shipments forecast down to 170M units in 2021
India's smartphone market will definitely witness a significant dip of more than 30 per cent in the ongoing second quarter (April-June period) and the festive season and pent-up demand are expected to drive the market in Q3 and Q4, according to Counterpoint Research. Consumers will prefer online channels for buying smartphones due to Covid-19 fears.
EU economy rebounds, 4.2% growth projected
The higher economic forecasts come as the vaccination rollout speeds up across the EU, resulting in a more ambitious easing of restrictions on business operations, Xinhua news agency quoted the Commission as saying on Wednesday. The rebound in Europe's economy that began last summer stalled in the fourth quarter of 2020 and in the first quarter of 2021
India will have to invest heavily in infrastructure for economy to recover: UN expert
"A crisis often presents an opportunity" and making the right investments can have a multiplier effect in steering the economies to a recovery, while also making a monumental difference in people's life," Hamid Rashid, the head of the UN Development Research Branch, said on Wednesday in an exclusive interview to IANS TV. Developing countries like India do not have the option of financing a stimulus programme like the US he added
Jindal Steel & Power's Q4 net profit surges to Rs 1,900 cr
In a statement, the company said that solid operational performance, divestment of non-core assets and lower CAPEX have all contributed to JSPL's path of deleveraging with net debt declining sharply from Rs 35,919 crore in FY20 to Rs 22,146 crore in FY21.
India's March industrial output zooms on low base effect
The Index of Industrial Production (IIP) for March accelerated by 22.4 per cent over the same month a year ago and a contraction of 3.4 per cent reported for February. On a fiscal basis, the IIP contracted by (-) 8.6 per cent in FY21 from (-)0.8 per cent during the April-March period of the previous financial year.
RBI announce Rs 35K cr G-sec Acquisition Programme
As announced in the RBI Governor's statement of May 5, the second tranche of G-sec purchase will involve buying back securities of Rs 35,000 crore. The Reserve Bank will purchase the Government securities maturing between November to March 2035. These securities bear coupon rate ranging from 5.85 per cent to 7.17 per cent.
Tech Mahindra, HCL to help with O2 supply
Tech Mahindra Foundation, the CSR arm of Tech Mahindra, announced its support to Mission Oxygen, an initiative by Democracy People Foundation, to ensure last-mile delivery of oxygen supply across India. The partnership will strive to ensure that hospitals, nursing homes and medical care facilities, especially in tier-2 cities, get immediate access to oxygen.
Zydus Cadila to sell its India focused animal health biz for Rs 2,921 cr to Multiples, RARE
Zydus AH is the animal health business of ZAHL focused on India and certain other countries. The consortium, including Canada Pension Plan Investment Board and RARE Enterprises has agreed to purchase the undertaking through an SPV controlled by them, in the name of Zenex Animal Health India Private Limited.
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