BUSINESS
World's biggest banks 'continue' to pour billions into fossil fuel
The report, released on Thursday, documents that in the six years since the Paris Agreement was adopted, the world's 60 largest private banks financed fossil fuels with $4.6 trillion, with $742 billion in 2021 alone. 2021 fossil fuel financing numbers remained above 2016 levels, when the Paris Agreement was signed.
Subdued global cues pull market lower; healthcare stocks fall
Subdued global cues dampened India's equity indices -- S&P BSE Sensex and NSE Nifty50 -- on Thursday. Both the indices closed marginally lower after opening in the positive territory. Globally, markets tanked after inconclusive talks between Russia and Ukraine and weak Chinese manufacturing data. On the domestic front, heavy selling pressure was witnessed in the healthcare stocks.
Airtel joins Tech Mahindra to develop 5G use cases in India
Airtel and Tech Mahindra will set up a joint 5G innovation lab for developing 'Make in India' use cases for the domestic and global markets. "With proven technology capabilities and deep customer trust enjoyed by the two brands, we believe this is a win-win partnership," said Ganesh Lakshminarayanan, CEO-Enterprise Business, Bharti Airtel.
India registers 162% growth in EV sales: Gadkari
Union Minister for Road Transport & Highways, Nitin Gadkari on Thursday in the Lok Sabha said that India has registered overall 162 per cent growth in the sales of electric vehicles this year. Responding to a question during Question Hour, Gadkari informed the house that on a year-over-year basis, the sales has risen. Union Minister informed the house that a total 10,95,746 electric vehicles were registered in India with 1,742 charging stations operable as on March 13 this year.
Axis Bank's stocks rise day after Citibank's consumer biz deal
The boards of Axis Bank and Citibank have approved the deal, comprising the sale of the consumer businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans, as well as sale of consumer business of Citi's non-banking financial company, Citicorp Finance (India) Ltd, comprising the asset-backed financing business, which includes commercial vehicle and construction equipment loans, as well as the personal loans portfolio.
Stock limit on edible oils, oilseeds extended up to Dec 31
In view of the ongoing Ukraine-Russia war resulting in supply restrictions in import of edible oils and oilseeds, the Centre has extended the stock limits imposed on edible oils and oilseeds until December 31. This will come into effect from April 1. A notification from the Ministry of Food, Consumer Affairs and Public Distribution's Department of Food and Public Distribution published on Wednesday,
Equity indices extend gains for 4th straight sessios
India's key equity indices -- Sensex and Nifty -- extended their gains on Thursday for the fourth consecutive session. At 9.52 a.m, Sensex was 0.3 per cent or 188 points up at 58,872 points, whereas Nifty 0.3 per cent or 56 points up at 17,555 points. Among the individual stocks, Mahindra & Mahindra, Bajaj Finance, ONGC, HDFC, and Tata Consumers were the top five gainers
Petrol, diesel prices raised again
These prices were revised for the very first time on March 22, after a gap of more than four months. Notably, the selling price includes state levies, central excise and cess, amongst others. In New Delhi, the prices were increased again by 80 paise per litre. As per pump prices, petrol now costs Rs 101.81 per litre and diesel Rs 93.07 per litre in the national capital.
Gold jewellery retailers' revenue seen rising 12-15% next fiscal: Crisil
Sustained high prices of gold, as well as steady demand, is expected to raise gold jewellery retailers' revenue by 12-15 per cent next fiscal, said ratings agency Crisil. It also said that the segment's revenue is expected to grow by 20-22 per cent this fiscal, albeit on a lower base of the Covid-19 pandemic-impacted last fiscal. Besides, it said that operating margins should improve 50-70 basis points (bps) on-year to 7.3-7.5 per cent in fiscal 2023, because of elevated gold prices and improved operating leverage.
India earned $35 mn, 10 mn euros for launching foreign satellites
New Space India Ltd (NSIL), a CPSE under the Department of Space, has already launched 45 international customer satellites on-board ISRO's PSLV during the last three years and has secured four dedicated launch service contracts for foreign satellite customers, Science & Technology Minister Jitendra Singh told the Lok Sabha in a written reply.
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