BUSINESS
Fineotex Chemical shares surge as Nippon India MF picks up stake
On Tuesday, its shares on the BSE hit a 52-week high of Rs 62.15 per share. Around 11.10 a.m., shares of Fineotex Chemical were trading at Rs 59.65, higher by Rs 5.55 or 10.26 per cent from its previous close.
Sensex, Nifty hit fresh highs as rally continues
Sensex hit a fresh high of 47,710.38, and the Nifty50 touched an all-time high of 13,967.60 points. Healthy buying in banking and IT stocks supported the market.
ITAT relief for 3 Tata trusts, tax tribunal says Cyrus Mistry's claims doubtful
Through the order, the appellate tribunal has upheld the tax exemptions given as per Section 11 of the Income Tax Act to the three trusts. The case pertains to allegation levelled by Mistry over prohibited mode of investment by these Trusts in shares that resulted in revised assessment order by the Income Tax department.
ITC Hotels launch Welcomhotel Shimla
Welcomhotel has launched its first property in Himachal Pradesh, Welcomhotel Shimla. Tucked away in an unexplored village with experiential stays, lush green expanse and breathtaking views of the hills, Welcomhotel Shimla is the ideal getaway destination for those wanting to reconnect with Nature.
India's inflation target should be maintained at 4%: RBI Working Paper
The paper, published by the RBI's Department of Economic and Policy Research, noted that central to monetary policy is the concept of 'Trend Inflation' to which actual inflation outcomes are expected to converge after short-run fluctuations die out.
Indian startups bagged $9.3 billion investments in 2020: Report
The figure is much lower than the record $14.5 billion raised by Indian startups last year as the number of deals this year reached 1,088 from 1,185 last year, TechCrunch reported on Monday. There were 20 funding rounds with dealsize $100 million or larger in 2020 compared to 26 in 2019. Similarly, rounds with dealsize $50 million to $100 million fell to 13 in 2020 from 27 last year.
Pandemic-hit govt finances gets 'crude' rescue, oil import bill to fall
Declining consistently since April, India's oil imports fell 18.14 per cent (YoY) to around 122.7 million tonnes (MT) in April-November period of FY21 as compared to 129.9 MT in the same period last year. In value terms, the April-June oil imports stood at $32.4 billion, down 53.44 per cent in the dollar terms from $69.6 billion in April-November of FY20.
Hiring set to bounce back in 2021: Naukri.com
While 26 per cent recruiters foresee hiring bouncing back to pre-Covid levels within the next three-six months, 34 per cent said that it would take their organisations six months to one year, said the "Hiring Outlook Survey" by the job portal. The survey, which involved 1,327 recruiters and consultants across the country, showed that jobseekers should remain optimistic for the coming year.
Proposed sale of 33.12% equity shares of Prime Focus by Credit Suisse to PFL's promoters is blatant abuse: RCAP Group
A RCap statement said the proposed sale is being attempted privately and clandestinely between 2 foreign entities, without any open, fair and transparent process being conducted to realise the true value of the shares and disregarding basic norms of conflict of interest.
Piping hot: India's steel production grows as year draws to a close
According to data provided by World Steel Association, country's crude steel production stood at 9.245 million tonne (MT) in November, as against 8.933 MT during the same month last year indicating a big pick up in economic activity post the pandemic pushed lockdowns.
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