BUSINESS
Indices break two day losing streak, Sensex up 700 pts
At 9.47 a.m., Sensex was 1.2 per cent or 700 points up at 57,820 points, whereas Nifty 1.2 per cent or 208 points up at 16,162 points. Amidst the current volatility, banking stocks are at buyable valuations and IT stocks too, after the recent correction are good long-term bets, Vijayakumar added.
Wheat procurement under MSP likely to be lowest in last 12 years
India was till last week headed to a record production but the heat wave that started in March and continued in April over northwest India is set to affect produce, especially in Punjab and Haryana.
Under development global coal power declined by 13%: Report
The report finds that after rising in 2020 for the first time since 2015, the total coal power capacity under development declined 13 per cent in 2021, from 525 gigawatts (GW) to 457 GW, a record low. Thirty-four countries have new coal plants under consideration, down from 41 countries in January 2021.
Reports on states' feedback for GST hikes 'purely speculative': Govt
According to a Ministry of Finance statement, a section of the media has reported that feedback has been sought from states regarding a suggestion for raising Good and Services Tax (GST) rates on as many as 143 items. Some reports have even carried the number and description of the items, the statement said, adding that the GST Council, in its 45th meeting, had formed a Group of Ministers (GoM) to look into the rationalisation of rates and its deliberations are ongoing.
Twitter soars after commentariat scents imminent Musk takeover
Earlier this month, Musk offered to buy Twitter for $54.20 a share, or about $43 billion. Twitter's board of directors met on Sunday to discuss Musk's financing plan. The board negotiated with Musk into the early hours of Monday, The New York Times said. Twitter shares fired up nearly 6 per cent in the afternoon, chiefly because of media speculation that the deal was expected after market close, if not sooner.
What next for Parag Agrawal with Elon Musk as Twitter boss
"Deeply proud of our teams and inspired by the work that has never been more important. I know this is a significant change and you're likely processing what this means for you and Twitter's future," Agrawal tweeted. He was set to address Twitter employees in a town hall on what this takeover means to them and allay their fears.
I hope my worst critics remain on Twitter: Musk
"I hope that even my worst critics remain on Twitter, because that is what free speech means," he tweeted. "And be my love in the rain," Musk added, posting from famous American poet Robert Frost's poem "A Line-storm Song" The tweet indicated that Musk has won against the Twitter board.
Elon Musk buys Twitter for $44bn, company to go private
Twitter announced late on Monday that it has entered into a definitive agreement to be acquired by an entity wholly owned by Musk for $54.20 per share in cash in a transaction valued at nearly $44 billion. Upon completion of the transaction, Twitter will become a privately-held company.
IMF agrees to extend its programme for Pakistan with rider
The decision was taken after consultations between Pakistan Foreign Minister Miftah Ismail and IMF Deputy Managing Director Antoionette Sayeh in Washington. However, the decision is pending to completion of some strict and difficult demands, which include cancelling subsidies on petroleum announced by former premier Imran Khan.
In record, Punjab makes payments of Rs 13K cr for wheat procurement
Lal Chand Kataruchak said this was the highest payment in the past decade. The minister said the total minimum support price (MSP) payments released this year were three times of what was paid last year (Rs 4,754.42 crore) by this date.
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