BUSINESS
Largest refinery in France shut over strike
"The discontent is so strong in Normandy that the strikers demanded this morning the shutdown procedures of the largest refinery in France," Xinhua news agency quoted Thierry Defresne, General Confederation of Labour (CGT) secretary of the European Enterprise Committee of TotalEnergies, as saying on Wednesday.
IPO fundraising in India drops by 32 per cent
The amount raised is 32 per cent lower than the Rs 51,979 crore raised through 25 IPOs in the corresponding period of 2021-22. Rs 20,557 crore or 58 per cent of the amount was raised just in the IPO of LIC, according to Pranav Haldea, Managing Director, PRIME Database Group. Overall public equity fundraising also dropped by 55 per cent to Rs 41,919 crore from Rs 92,191 crore in the corresponding period of the previous year.
Rise in home loan interest beyond 9.5 % likely to have high impact on housing sales: Survey
At least 44% of the respondents preferred 3BHKs, followed by 38% favouring 2BHKs, said the survey conducted by the Industry body CII-Abarock. In the survey's H1 2021 edition, 46% preferred 2BHKs, and 40% voted for 3BHKs. Similarly, the demand for 4BHKs has also risen -- from 2% in the pre-Covid survey to 7% now. The survey, conducted between January and June 2022, polled 5,500 participants responding via various digital platforms.
ED attaches mutual funds, equity shares worth Rs 54.24 cr of IFFCO MD
The ED had earlier attached immovable and movable assets worth Rs 100 crore. Thus, the total attachment in this case comes to Rs 154.24 crore so far. The ED initiated the money laundering investigation on the basis of the CBI's FIR lodged against various suspects including Udai Shanker Awasthi, MD IFFCO, Pankaj Jain, promoter of Jyoti Trading Corporation and Rare Earth Group, Dubai, Amarendra Dhari Singh and others.
SAIL records turnover of over Rs 1 lakh crore
During the Maharatna company's annual general meeting on Wednesday, it was informed that for the first time, it entered the elite club of Indian companies having a turnover of over Rs 1 lakh crore. The company's turnover of Rs 1.03 lakh crore during 2021-22 saw a substantial growth of more than 50 per cent over the previous best turnover of Rs 68,452 crore, achieved during 2020-21.
Akash Ambani named to TIME100 NEXT list
"The scion of Indian industrialist royalty, Akash Ambani was always expected to rise in business. But he has been putting in hard work. Ambani was promoted in June to chairman of Jio, India's largest telecom company, with over 426 million subscribers, after being controversially handed a board seat at just 22.
Kolkata app fraud: ED seizes Bitcoin worth Rs 12.83 crore
The development came just hours after Kolkata Police confiscated Rs 14.53 crore from a cryptocurrency wallet of Amir Khan. However, the Bitcoin worth Rs 12.73 crore seized by the ED was not directly held by Khan, who instead used the cryptocurrency wallet of a local businessman to maintain the reserve against a commission.
Indian equities fall; Sensex ends more than 500 points down
At close, Sensex ended 509.24 points or 0.89 per cent down at 56,598.28, while Nifty closed lower by 148.80 points or 0.87 per cent at 16,858.60. About 2,092 shares declined, 1,335 shares advanced while 105 remained unchanged on Wednesday. ITC, Axis Bank, Reliance Industries, Tata Steel, IndusInd Bank and State Bank of India were the major losers on the Sensex.
Businessman Vijay Nair sent to 5 days' CBI custody
He was arrested on Tuesday night by the CBI. Vijay Nair was the first person to be arrested in the excise scam. The Central Bureau of Investigation (CBI) told the court that his custodial interrogation was necessary. Senior lawyer Rebecca John, who was appearing for Nair, opposed the CBI move saying her client has joined the investigation and was cooperating.
Delhi HC grants bail to Chitra Ramkrishna, Anand Subramanian in NSE case
Justice Sudhir Kumar Jain granted the 'statutory bail' as the probe had not not completed within a specified period of time and the accused were under judicial custody. Chitra Ramkrishna had approached the high court against the order of a special CBI court that denied her bail in May.
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