BUSINESS
Sonova acquires German audio brand Sennheiser's consumer business
Subject to regulatory approval, the plan is to complete the transfer of the business to Sonova by the end of 2021. Sennheiser had announced in February that it would focus on the professional business in the future while seeking a partner for its consumer electronics business.
Sensex ends above 49,000; metal stocks touch record highs
Healthy buying was witnessed in metal stocks, with several stocks touching their all-time high levels. Shares of Tata Steel touched a 52-week high of Rs 1,192 and SAIL stock touched a 52-week high of Rs 145.85 per share. Sensex closed at 49,206.47, higher by 256.71 points or 0.52 per cent from its previous close of 48,949.76.
Rs 50K cr on-tap term liquidity facility opened to ease access to emergency health services
Banks are being incentivised for quick delivery of credit under the scheme through extension of priority sector lending (PSL) classification to such lending up to March 31, 2022. These loans will continue to be classified under PSL till repayment/maturity, whichever is earlier.
Demand momentum for jewellery continued in Q1
According to a report by Motilal Oswal Institutional Equities, total consumer demand for gold in India, which includes jewellery, bars, and coins, witnessed a 37.4 per cent year on year growth in 1QCY21 to 140 ton. On a QoQ basis, demand was down 24.8 per cent.
Covid crisis poses economic risk in Q1 FY22; 'muted impact' likely: Finance Ministry
The 'Monthly Economic Review' for April 2021 published by the Department of Economic Affairs (DEA) said that learning to "operate with COVID-19" provides a silver lining of economic resilience amidst the second wave. "The second wave of COVID-19 has posed a downside risk to economic activity in the first quarter of FY 2021-22. Learning to "operate with COVID-19", as borne by international experience, it said
'RBI liquidity window can augment healthcare infra': Crisil
Hospitals could be among the biggest beneficiaries as the incremental funding can potentially increase bed capacity in the country by 15-20 per cent, the ratings agency said. Loans under the scheme, for tenures up to 3 years, are available to banks at the repo rate till March 31, 2022. Such loans would also be classified under priority sector.
Petrol, diesel prices maintain rally, rise again by 28-31 paise/ltr
This is fourth increase in fuel prices in as many days as petrol and diesel prices rose by 15 paise and 18 paise per litre respectively on Tuesday and by 19 paise and 21 paise per litre respectively on Wednesday and by 25 and 30 paise respectively on Thursday after a 18 days break. With Friday's increase, petrol is now being retailed at Rs 91.27 a litre and diesel Rs 81.73 a litre in the national capital.
Vedanta to set up 2 Covid hospitals in Karnataka soon
"The field hospitals in both towns will be equipped with critical care facilities, including 20-bed intensive care units (ICUs) and 180 oxygenated beds," said the Mumbai-based company in a statement here. The Vedanta hospitals will support the state government's efforts to contain the virus spread by working with the local communities, it said.
Revenue Deficit Grant of Rs 9,871 cr released to 17 States
The Centre provides the grant to the states under Article 275 of the Constitution. The grants are released as per the recommendations of the Finance Commission in monthly instalments to meet the gap in revenue accounts of the states post-devolution. The 15th Finance Commission has recommended PDRD grants to 17 states.
Power market beats pandemic, April trade up 90.2% YoY
While the growing electricity consumption has been one of the key factors behind the consistent performance of the Exchange, its robust value proposition in terms of the most competitive prices, flexible, and efficient procurement positions it as the most preferred destination for power procurement for both the distribution utilities as well as the industrial consumers.
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