BUSINESS
NewSpace India to open price bids for industries making PSLV rocket next month
"The techno-commercial evaluation is on the verge of conclusion. Once that is done, the price bids submitted by the three industry consortiums will be opened," an NSIL official, not wanting to be identified, told IANS. The NSIL has the mandate of building, and launching rockets and satellites through industry partners and also providing space-based services through remote sensing and communication satellites.
Japan's parliament enacts record $900bn budget for FY22
The allocation for spending on social security, which comprises a third of total spending, as Japan's society continues to rapidly age and simultaneously shrink, is the largest-ever at 36.27 trillion yen and compares to 35.83 trillion yen in the previous year. Defence-related spending, meanwhile, also marked a new record at 5.40 trillion yen, as Japan aims to ramp up spending on new technologies.
Erasing opening session losses, Sensex, Nifty settle over 1% high
Sensex settled 1.2 per cent or 697 points up at 57,989 points, whereas Nifty 1.2 per cent or 198 points up at 17,315 points. "The domestic market started with a negative bias taking cues from rising crude prices and hawkish signals from Fed on aggressive policy tightening," said Vinod Nair, Head of Research at Geojit Financial Services.
Price Rise: Non-subsidised LPG cylinder gets costlier
In Delhi, the 14.2-kg non-subsidized cylinder will now cost Rs 949.50. Besides, the price in Kolkata rose to Rs 976 per cylinder, while that in Chennai and Mumbai stood at Rs 965.50 and Rs 949.50 per cylinder. Accordingly, this is the first hike since October 6, 2021. The increase in selling price came days after an astronomical rise in crude oil prices due to the Russia-Ukraine war.
'Will list it early': SC on Amazon's plea against transfer of Future Retail assets
A bench headed by Chief Justice N.V. Ramana told senior advocate Gopal Subramanium, representing Amazon, that one of the judges, Justice Hima Kohli, was not available, therefore the matter could not be taken up on the date scheduled for hearing. The Chief Justice said: "We have some difficulties in constituting the bench. My sister (Justice Hima Kohli) has some problems". "That is the reason... at least one partner (judge) should be there."
Ruchi Soya's Rs 4,300 crore follow-on public offer to open on March 24
The shares of Ruchi Soya dropped 10 percent on Monday after company fixed the price band at 35 percent discount on the closing price on last Thursday. The Monday’s closing price is INR 910 and hence the follow-on offer is seen as a discount. The company further said that the minimum bid in the follow-on offer will be for 21 shares.
India's banks unprepared for climate challenges: Report
India's big banks score poorly on climate challenge", ranks 34 biggest banks in the country against a range of criteria and most banks have not even begun to factor climate change into their business strategies. The analysis comes on the heels of the IPCC report on impacts, adaptation and vulnerability which warned that India faces serious economic threats from sea-level rise and riverine flooding, reduced labor capacity due to intolerable heat, drop in crop and fishproduction and water.
Inflationary Blow: Petrol, diesel prices raised after more than 4 months
State-owned oil marketing companies (OMC) on Tuesday raised petrol and diesel prices after more than four months of stable rates. Accordingly, the increase in selling price, which includes state levies, central excise and cess amongst other factors, came days after an astronomical rise in crude oil prices due to the Russia-Ukraine war.
Equity indices extend losses, Sensex declines around 250 pts
On Monday, Sensex and Nifty fell 1 percent each. At 9.57 a.m. on Tuesday morning, Sensex was 0.5 percent or 260 points down at 57,032 points, whereas Nifty was 0.4 percent or 69 points down at 17,048 points. Sectors that won't be impacted at all by crude spike and potentially higher inflation like IT and pharma are safe havens now, said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
PF rate cut based on 'today's realities', ministry yet to approve: FM
The proposal to cut the interest rate on employees' provident fund deposits was dictated by today's realities where returns on other small saving instruments were even lower, Union Finance Minister Nirmala Sitharaman told the Parliament
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