BUSINESS
Equity market ends in green; auto, metal stocks surge
The BSE Sensex closed at 48,949.76, higher by 272.21 points or 0.56 per cent from its previous close of 48,677.55. It had opened at 48,877.78 and touched an intra-day high of 49,011.31 and a low of 48,614.11 points. The Nifty50 on the National Stock Exchange closed at 14,724.80, higher by 106.95 points or 0.73 per cent from its previous close.
Raymond has transitioned to more advanced digital value chain: Gautam Hari Singhania
In an interview with IANS, Singhania said: "Until the second wave swamped us sometime around February end, we were witnessing healthy signs of recovery and moving towards pre-pandemic levels. However, varied localised restrictions across states to curtail the spread of pandemic has resulted in the industry facing similar issues that we faced last year."
Non-residents will be taxed if transaction value exceeds Rs 2 cr
The Central Board of Direct Taxes has notified new rules for the operation of business by non-residents under which any transaction over Rs 2 crore (apex $27,100) in respect of any goods, services or property carried out by them with any person in India including the provision of download of data or software in India, will attract tax in India.
ArcelorMittal reports 'strongest quarter in a decade'
In a statement, the Steel giant ArcelorMittal said that the first quarter of 2021 was its strongest quarter in a decade. The operating performance significantly improved in Q1 2021, reflecting the continued demand recovery which supported a 6.5 per cent sequential increase in steel shipments, it said.
Global TWS market to see 33% growth in 2021, Apple set to lead
The global TWS (True Wireless Stereo Headset) market is expected to grow 33 per cent (year-over-year) in 2021, reaching 310 million units, according to a new report. Apple will remain a leader selling around 84 million units but still lose share by 4 per cent. Apple was expected to defend its top position despite its market share decline from 31 percent to 27 percent.
Sensex pares gains to turn flat; auto stocks up
Healthy buying was witnessed in auto and metal stocks. At 10.45 a.m., Sensex was trading at 48,706.58, higher by 29.03 points or 0.06 per cent from its previous close of 48,677.55. It touched an intra-day high of 48,898.68 and a low of 48,614.11 points. The Nifty50 on the National Stock Exchange was trading at 14,646.60, higher by just 28.75 points or 0.2 per cent from its previous close.
Fuel prices rise again sharply for third straight day
This is third 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 after 18 days break. With Thursday's increase, petrol is now being retailed at Rs 90.99 a litre and diesel Rs 81.42 a litre in the national capital.
Cabinet approves strategic disinvestment of IDBI Bank
The Government of India (GoI) and the LIC together own more than 94 per cent of the equity of IDBI Bank, with the Centre holding 45.4 per cent and the LIC owning 49.24 per cent stake. LIC is currently the promoter of IDBI Bank with management control and the Centre is the co-promoter.
High frequency indicators showing mixed signals: RBI Governer
He said that aggregate demand conditions, particularly in contact-intensive services, are likely to see a temporary dip, depending on how the Covid situation unfolds. With restrictions and containment measures being localised and targeted, businesses and households are learning to adapt, Das said, adding that, "consequently, the dent to aggregate demand is expected to be moderate in comparison to a year ago".
MoCA clarifies all investments in health infrastructure qualify as CSR spending
Resources for 'creating health infrastructure for COVID care', would include 'establishment of medical oxygen generation and storage plants' and 'manufacturing and supply of Oxygen concentrators, ventilators, cylinders and other medical equipment for countering COVID-19'.
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