BUSINESS
Nifty Bank index up over 11% so far this year, BoB outperforms index
Currently, the Nifty Bank index is trading at 39,656.15, as compared to 35,481.70 on December 31, 2021. According to the data compiled by Geojit Financial Services showed, the top three banks that have outperformed the index were Bank of Baroda with YTD returns of 47.90 per cent, Federal Bank with 21.20 per cent, and IndusInd Bank with 21.10 per cent.
81% Indians believe their jobs can be done remotely: Report
The PwC's India Workforce Hopes and Fears Survey 2022 showed that the shift to hybrid work is expected to continue with 31 per cent of those who can work remotely already working in a hybrid way. The report also showed that a significantly higher proportion of Indian employees (71 per cent) are concerned about being overlooked for career advancement as compared to their global peers (21 per cent).
Rupee falls 23 paise to close at 79.67 against US dollar
At Interbank foreign exchange market, rupee ended at 79.67, as against 79.44 close on the previous trading session against US dollar. "It was largely range bound within the range of 79.58 to 79.70. Overall demand was there by importers and corporate outflows," said CR Forex, MD, Amit Pabari. By the closing of market trading hours, Brent crude oil prices were trading at $94.83 a barrel in the international market.
Indices erase losses, end marginally higher
At close on Thursday, Sensex ended 37.87 points or 0.06 per cent up at 60,298.00, while Nifty ended 12.25 points or 0.07 per cent higher at 17,956.50. Kotak Mahindra Bank, Larsen & Toubro, Bharti Airtel and Ultratech Cement, among others, were the major gainers on the BSE. About 1,900 shares advanced, 1,494 shares declined, while 146 shares remained unchanged on Thursday.
Number of domestic air passengers in July dips to 97.05 lakh
According to the DGCA data, the number of passengers carried by domestic airlines during the January-July 2022 period were 669.54 lakh as against 393.44 lakhs during the corresponding period of in 2021, thereby registering an annual growth of 70.18 per cent and monthly growth of 93.82 per cent. The passenger load factor or occupancy of airlines remained in the range of 75 per cent to 85 per cent in July.
India's demand for yellow metal rises 43% in Q2: World Gold Council
Value-wise India's second quarter (Q2) 2022 gold demand value was Rs 79,270 crore, an increase of 54 per cent in comparison with Q2 2021 (Rs 51,540 crore). Total jewellery demand in India for Q2 2022 was up by 49 per cent at 140.3 tonnes as compared to Q2 2021 (94 tonnes). Globally in the jewellery sector, Q2 gold demand increased 4 per cent year-on-year to 453 tonnes, helped by a recovery in Indian demand, up 49 per cent compared with Q2 2021.
LIC Mutual Fund's large and mid cap funds offer 12.49% CAGR since inception
As on July 31, 2022, the compounded annual growth returns performance of LIC MF large and mid cap fund under regular (G) option, for different periods -- 5 years, 3 years and 1 year -- stood at 11.44 per cent, 18.83 per cent and 9.16 per cent, respectively. The funds have Rs 1.17 lakh crore of net assets under management as on July 31, 2022. While LIC MF large and mid cap funds AUM stood at Rs 1,831.26 crore.
ICICI Bank trading record high in morning trade
Motilal Oswal's report said that the bank's annual report reaffirms our view that the bank is progressing well in its endeavour to strengthen its Balance Sheet, with a strong focus on the retail franchise. The private lender's retail portfolio has been leading the overall loan growth, the SME and Business Banking portfolio grew 39 per cent on-year in FY22 and constitutes 11 per cent of total loans.
Razorpay acquires offline payments firm Ezetap for up to $200 million
According to sources, the deal size is around $150-200 million. This marks Razorpay's sixth and biggest acquisition to date. The Ezetap Team of around 300 employees will join Razorpay and work as an independent business unit. "We believe that the businesses of tomorrow will not distinguish between physical and digital channels and will expect a unified payment experience through a single integrated platform.
Sunil Mittal hails govt for ease of doing biz in 5G allocation
Bharti Airtel on Wednesday said it paid Rs 8,312.4 crore to the Department of Telecom (DoT) towards dues for spectrum acquired in the recently concluded 5G auctions. Airtel paid four years of 2022 5G spectrum dues upfront. "Airtel paid Rs 8,312.4 crore towards spectrum dues and was provided the allocation letter for the designated frequency bands within hours.
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