BUSINESS
Ignoble Oscars go to Narayanamurthy, Amit Agarwal, Jeff Bezos
The Asmbhav Awards were bestowed on individuals who really swung the axe of destruction amidst the innocent lot of the small Indian retailer. The winners really made the possible, well, impossible. The awardees were decided after enough careful thought and deliberation and were chosen on the basis of their singular, single-handed prowess in laying waste the dreams, aspirations and lives of the humble Indian retailer.
FY22 prospects uncertain, insurers wish for an insurance cover
"The uncertainty is high owing to the Covid-19 pandemic. The consumer sentiment is negative. The health insurance portfolio will continue to do well. The motor insurance business should do well if the economy doesn't deteriorate further. Some sport utility vehicles (SUV) have waiting periods," Roopam Asthana, CEO and the Whole Time Director, Liberty General Insurance Ltd told IANS.
Flipkart to acquire online travel tech firm Cleartrip
Under the terms of the agreement, Cleartrip operations will be acquired by Flipkart. Cleartrip will continue to operate as a separate brand, retaining all employees while working closely with Flipkart to further develop technology solutions to make travel simple for customers, it added.
India's WPI inflation rises to 7.39% in March
"The annual rate of inflation stood at 7.39 per cent (provisional) for the month of March 2021 over March 2020. However, the month-on-month (March 2021 over February 2021) rate of inflation stood at 1.57 per cent," the Ministry of Commerce and Industry said in a statement on WPI.
IL&FS addresses Rs 43,000 cr debt, raises aggregate debt recovery target
The previous estimate of overall debt recovery was Rs 56,000 crore. The increased estimate represents a resolution of nearly 62 per cent of overall fund based and non-fund based group debt of around Rs 99,000 crore, as of October 2018, Chairman of IL&FS, Uday Kotak told the media on Thursday.
Equity indices pare initial gains to turn red
Around 10.19 a.m., Sensex was trading at 48,290.94, lower by 253.12 points or 0.52 per cent from its previous close of 48,544.06. It opened at 48,512.77 and has so far touched an intraday high of 48,686.17 and a low of 48,268.64 points. The Nifty50 on the National Stock Exchange was trading at 14,436.20, lower by 68.60 points or 0.47 per cent from its previous close.
Private equity inflow in India realty up 19% in FY21
During the previous financial year, PE investments into the realty sector stood at $5.8 billion. Indian real estate recorded its highest-ever private equity investments since in the last fiscal, since FY16, noted the Anarock Capital's 'Flux - FY20-21 Market Monitor for Capital Flows'.
IMF chief 'confident' to distribute new SDR by August
"It is a remarkable demonstration of multilateralism" that the IMF membership has agreed to support a new SDR allocation of $650 billion, the largest in the history of the IMF, Georgieva said in an exclusive interview with Xinhua news agency. "In comparison, in the midst of the global financial crisis, the membership allocated 250 billion dollars to help countries deal with the consequences of this crisis," she said.
Asset quality headwinds to impact NBFCs performance in FY22: ICRA
These headwinds are also likely to affect NBFCs performance in FY22, following the resurgence of the Covid-19 pandemic. "Asset quality pressures because of the Covid-19-related business disruptions unfolded partly in Q3 FY2021 with the 90+ days past due moving up following the closure of the moratorium window in August 2020.
Infosys to buy back shares worth Rs 9,200 crore
"As part of capital allocation, the board of directors approved buyback of shares equity shares from the open market route through the stock exchanges amounting to Rs 9,200 crore, excluding tax," said the city-based IT major in a statement here. The buyback will be subject to the approval of the company's shareholders in the annual general meeting (AGM) of the company in June.
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