BUSINESS
Bharti Airtel restructures its corporate structure
The new structure envisages Airtel Digital Ltd folding into a listed entity, Bharti Airtel. This will now house all of the digital assets spanning Wynk Music, Airtel X stream, Airtel Thanks, Mitra Payments platform used by a million retailers, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services, the company said in a statement.
Faceless assessment scheme may revert to physical mode for large taxpayers
Sources in the Central Board of Direct Taxes (CBDT) said that the trend is disturbing and this may push the I-T Department to switch to a physical model of operations that would involve the issue of exparte orders against unresponsive taxpayers who may also face raids or physical scrutiny of documents by taxmen.
Land value within 500 metre of upcoming metro corridors to rise 10-15%
Noting that India was introduced to the metro rail as an alternative mode of transport three decades, the report said: "Since then, the advantages of the metro rail system have increased many-folds. Primarily it has been the enhanced connectivity to the suburbs of the city, thus enabling distribution of the city population to a larger extent of land resulting to congestion reduction in the city."
Hiring to witness 7% point growth if lockdowns are not imposed
According to the report, if further lockdowns and workplace operating rules are not enforced, the intent to hire in the current quarter (April-June 2021) can rise to 7 percentage point over the previous quarter (Jan-March 2021). In fact, out of the 21 sectors reviewed, more than eight sectors will witness a 9-11 percentage point rise in their intent to hire in the current quarter.
Wonderchef aims 30% sales growth in FY22
"During the lockdown, our strong presence on the digital landscape helped the brand grow. Post that, with presence across multiple sales channels -- direct-to-home, general trade, army canteens, modern trade, and our exclusive brand outlets --- Wonderchef was able to reach a much wider audience during the entire year and clock sales of Rs 500 crore at the brand level for the first time,"
Mutual funds' AUM surges 41% to Rs 31 lakh cr in FY21
The growth was primarily led by an increase in AUM of equity funds (Rs 4.09 lakh crore), income funds (Rs 2.39 trillion) and other ETFs (Rs 1.29 lakh crore), said the Fund Folio report from Motilal Oswal Financial Services. Equity AUM, including ELSS and index funds, of domestic mutual funds reached new highs of Rs 10.2 lakh crore (up 67 per cent YoY) in FY21, led by a rise in market indices.
Oberoi Group signs MoU with EESL to further its sustainability initiatives
EESL through its Building Energy Efficiency Program (BEEP) will assist The Oberoi Group in implementing several energy-efficient initiatives, including clean energy systems across its properties. These initiatives will help reduce the Group's overall carbon footprint and strengthen its energy conservation efforts.
Companies raise Rs 1.6L cr from primary market in FY21
It is the second-highest fund amount raised from the primary in the last 10 years after Rs 1.74 lakh crore raised by the companies in FY2017-18, showed a Motilal Oswal Financial Services report. "Funds worth Rs 1.6 trillion were raised from the primary market in FY21 via the QIP, IPO, OFS, FPO, etc. route," it said.
Sony invests additional $200M as Epic Games raises $1B
Epic Games CEO Tim Sweeney said on Tuesday that the company will use the investment to "help accelerate our work around building connected social experiences in Fortnite, Rocket League and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services and the Epic Games Store."
Covid variants pose biggest threat to US economic recovery
"The biggest risks that I see to the recovery are these variants," Kashkari told the Economic Club of New York, mentioning one variant of the virus which is dominant in parts of the US and easily infects younger people, Xinhua reported.
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