BUSINESS
Mahindra & Mahindra sells 40,403 vehicles in March
On YoY basis, the sales numbers are multiple times higher than the 6,679 units sold in the pandemic-struck March last year, when India was moving towards a lockdown and Covid-19 cases surged rapidly.The statement noted: "The growth in March 2021 over March 2020 has been unprecedented and is not comparable given the onset of pandemic during mid-March last year."
Base effect: Maruti Suzuki's March sales up over 99%
Accordingly, the company on Thursday reported a growth of 99.31 per cent in its overall sales during March 2021 on a yearonyear basis. The firm sold 167,014 units of vehicles last month, against 83,792 units sold in March 2020.
Mastercard invests $100 mn in Airtel Africa's mobile money biz
AMC BV is currently the holding company for several of Airtel Africa's mobile money operations and is intended to own and operate the mobile money businesses across all of Airtel Africa's fourteen operating countries.The transaction values Airtel Africa's mobile money business at 2.65 billion on a cash and debt free basis, Airtel Africa said in a statement.
March GST collection surges to over Rs 1.23 lakh Cr
Accordingly, the GST revenues during March 2021 are the highest since the introduction of the tax. "In line with the trend of recovery in the GST revenues over past five months, the revenues for the month of March 2021 are 27 per cent higher than the GST revenues in the same month last year," the Finance Ministry said in a statement.
RIL target price at Rs 2,500: JM Financial
JM Financial said in a report that Jio's subscriber momentum could be bottoming out, given its aggressive strategy to acquire significant quantities of the capacity spectrum to regain subscriber momentum via its new Jio Phone offers and the impending launch of the low-cost smartphones.
Equity indices in green, metal stocks surge
Around 10.40 a.m., Sensex was trading at 49,683.79, higher by 174.64 points or 0.35 per cent from its previous close of 49,509.15. It opened at 49,868.53 and has touched an intraday high of 49,942.84 and a low of 49,653.67 points. The Nifty50 on the National Stock Exchange was trading at 14,750.45, higher by 59.75 points or 0.41 per cent from its previous close.
Reliance infra & YES Bank announce sale transaction of Reliance Centre to YES Bank
Reliance infrastructure limited has reduced its exposure by 50 per cent in the last 90 days. Rinfra has closed three major transactions in the last 90 days namely the sale of road assets -- Delhi Agra Toll Road, Transmission Asset-Parbati Koldam Transmission Company limited and sale of Reliance Centre, Santacruz.
Government withdraws decision to lower small savings rate
In a decision, which would have delivered a blow to savers who depend on small savings schemes for income and social security, the Ministry of Finance on Wednesday announced the reduction in the small savings rate to 3.5 per cent for the first quarter of the financial year starting April 1, 2021.
Indian tech services revenues to hit $300-350 bn by 2025: Nasscom
This will require closer collaboration among stakeholders across the private sector, academia, and the government, said the report titled "Future of Technology Services -- Winning in this decade." The technology services sector now produces about 27 per cent of India's exports and provides livelihoods to about 44 lakh people, Nasscom said.
World trade to grow by 8% in 2021: WTO
The global trade body said prospects for a quick recovery in world trade have improved as merchandise trade expanded more rapidly than expected in the second half of last year. "World merchandise trade volume is expected to increase by 8 per cent in 2021 after falling 5.3 per cent in 2020, a smaller decline than previously estimated," the WTO said in a press release, Xinhua reported.
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