BUSINESS
India better prepared to handle resurgent Covid's economic fallout
Accordingly, industry watchers have cited accelerated vaccination drive along with massive adoption of e-commerce by India Inc and low interest rates as factors which will mitigate the intensity of any economic shock.In contrast, the localised lockdowns are expected at best to slow down the progress of economic recovery, but not stall it.
Second Covid wave heightens risks for India's banks: Fitch
Accordingly, Fitch expects a moderately worse environment for the India's banking sector in 2021, but headwinds would intensify should rising infections and follow-up measures to contain the virus further affect business and economic activity.
India Inc must consider adopting 'digital ethics framework': Report
The study by Deloitte Touche Tohmatsu India LLP (DTTILLP) and Bangalore Chamber of Commerce (BCIC) noted that an accelerated pace of digital transition, consumption of goods and services through the app-based interface, and proliferation of data bring numerous risks such as biased decision-making processes being transferred to machines or algorithms at development stage by humans.
FY21 net tax collection at Rs 9.45L cr, exceeds revised estimates
The net collection is around 5 per cent higher than the revised estimates for 2020-21. The net direct tax collections include corporation tax (CIT) at Rs 4.57 lakh crore and personal income tax (PIT), including security transaction tax (STT) at Rs 4.88 lakh crore.
Equity indices in green amid choppy trade
At around 10.35 a.m., Sensex was trading at 49,860.96, higher by 114.75 points or 0.23 per cent from its previous close of 49,746.21. It opened at 49,743.39 and has so far touched an intra-day high of 49,906.91 and a low of 49,499.99 points. The Nifty50 on the National Stock Exchange was trading at 14,896.75, higher by 22.95 points or 0.15 per cent from its previous close.
India Inc expected to log double-digit revenue growth in Q4FY21: Crisil
As per the estimates, the double-digit growth comes after eight quarters of either decline or single digit growth. The estimates are based on an analysis of 300 companies, which account for 55-60 per cent of the market capitalisation excluding financial services and oil companies of the National Stock Exchange.
Number of multi-millionaires in Hong Kong reaches new high
A multi-millionaire is defined as a person with a total net worth of 10 million HK dollars (about $1.28 million) or more and at least 1 million HK dollars in current assets, according to the bank, Xinhua news agency reported on Thursday.
No violation of SEBI Takeover Regulations: RIL promoter group
The RIL promoter group has also said that an appeal will be referred to the Securities Appellate Tribunal and it remains confident of vindicating its position, as per an RIL filing.As per a regulatory filing, RIL had issued debentures with convertible warrants in the year 1994 and allotted equity shares against the warrants in the year 2000.
Rising Covid cases to subdue securitisation market: ICRA
"On a positive front, the lockdowns announced by a few state governments at present are less restrictive in comparison to the nationwide lockdown seen last year. Nevertheless, an unabated increase in the Covid cases is likely to bring about fears of harsher lockdowns which could impact the asset quality of retail loans especially for unsecured loans such as in the microfinance sector."
Driven exports worth $3B, created 1M jobs in India: Amazon
Since January 2020 alone, nearly 2.5 lakh new sellers have joined Amazon.in, and the number of direct and indirect jobs the company helped create reached nearly 3 lakh during this period which saw widspread disruptions due to Covid-19.The company said that there is a strong demand from global customers for a range of "Made in India" products including toys, jewellery, bed linen, healthcare products, tea, leather products and others.
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