BUSINESS
CBI books Hyderabad firm for Rs 4,736 crore loss to SBI consortium
A CBI official here said that it booked Coastal Projects Ltd based at Hyderabad, its Chairman and Managing Director and guarantor Sabbineni Surendra, MD and guarantor Garapati Harihara Rao, Whole-Time Director and Director Finance Sridhar Chandrasekharan Nivarthi, Whole-Time Director Sharad Kumar, Guarantor and Mortgagor A.K. Ramulu, K. Anjamma, Ravi Kailas Builders Pvt Ltd represented by its Managing Director/Director Ramesh Pasupuleti and Govind Kumar Inani and unknown public servants and others.
Amazon discontinues Pantry as it focuses on grocery delivery
Amazon Pantry orders charged customers a flat $5.99 shipping fee per box of groceries. The box could be filled with up to 45 pounds of products or up to four cubic feet of everyday stuff, like laundry detergent, toilet paper or snacks.
Tax sops for Covid hit Aviation Sector may come in Budget 2021
Addressing a webinar on "Connecting the Dots-Recovery of aviation, tourism and hospitality" on Friday, she underscored the need for the sector to be geared for any challenges and said that policy rejig will also help it in the long run, if it is hit by a similar crisis in the future.
Reliance completes sale of 74% shareholding in Parbati Koldam Company Limited to India Grid Trust
The deal was announced in November 2020 with the signing of a definitive binding agreement between RInfra and IndiGrid and has now been completed with the transfer of shares of PKTCL, and receipt of sale consideration.
Apple made $64 bn from App Store in Covid-hit 2020: Report
According to an analysis by CNBC, this marks a solid growth for the App Store since the estimated increase between 2018 and 2019 was only 3.1 per cent.
India's YoY formulations' market growth revives back to 8.5% in Dec: Ind-Ra
The agency opined the month-on-month growth in India formulations market during December 2020 was led by a rebound in volumes due to a pick-up in prescribers' interactions with patients and medical representatives.
Missing in Action: RIL stocks' performance can extend market rally, experts say
Experts opined that even as India's market rally has become the envy of the world, nevertheless, RIL stocks underperformed in the last three months. In the past three months, RIL shares have plunged 13.7 per cent. On October 8, the scrip was at Rs 2,238.9, while on Friday, it closed at Rs 1,933.05.
India's foreign exchange reserves rises by over $4 bn
According to the Reserve Bank of India's weekly statistical supplement, the reserves increased to $585.324 billion from $580.841 billion reported for the week ended December 25.
Coal India to cross 650 mt production target in FY 20-21
Coal India produced 405 million tonne coal by the third financial quarter ending December 31, 2020, which has a contribution of 101.8 million tonne from Odisha-based Mahanadi Coalfields Ltd (MCL). The CIL chief said there is need to produce more coal as demand for dry fuel is expected to rise post-Covid-19 pandemic.
Hopes on healthy Q3 season, global cues pushes market to record highs
The Nifty opened at record highs and continued its positive momentum throughout the day's trade session. Globally, Asian shares rose to record highs on Friday with Japan's Nikkei hitting a three-decade peak. Similarly, European markets traded higher on Friday as global investors anticipated that a Democratic-controlled US government will lead to greater fiscal support.
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