BUSINESS
Jio World Centre: Know all about India's largest convention centre
The aim of the company behind building up this world-class center is to celebrate the vibrant culture of India, share business ideas and celebrate the rich heritage of our country. The Jio World Centre will include a cultural experience, retail, entertainment, and dining facilities in Bandra Kurla Complex. Envisioned by Nita Ambani, It will be a place where people will come together to script the next chapter of India's growth story.
Mega IPO of LIC deferred to FY 2022-23: Report
“Bankers and officials are preparing to shift the listing of the state-owned insurer to after the current fiscal year which ends in March,” TOI reports. The reason behind the delay is the ongoing crisis in Russia which has sent the global markets in red amid soaring prices of crude and food as well as worries about inflation.
India's FY23 footwear industry growth expected between 8-to-10%
India's footwear industry is expected to reach the pre-pandemic levels with a revenue growth of 8-to-10 per cent year-on-year in FY23. However, domestic footwear players are likely to witness a muted performance in FY22 compared to pre-pandemic levels with reversion to pre-Covid levels expected by Q2FY23.
Fueling Inflation: Petrol, diesel prices set to rise as Crude to range around $95-125
Hostilities between Russia and Ukraine, along with sustained demand, is expected to keep global crude oil prices in the range of $95-to-$125 per barrel in the short term. Consequently, the geo-political crisis-led global hike in crude oil prices is expected to push India's domestic prices of petrol and diesel by Rs 15-22 per litre.
Booster dose: India's pharma sector to grow at 6-8% YoY in FY23
India's pharmaceuticals market (IPM) is expected to grow between 6 and 8 per cent on a year-on-year (YoY) basis in FY23. Accordingly, the growth has been capped due to high base effect and inventory stocking in FY21 on account of Covid-19-led disruption in supplies of key starting materials.
India's forex reserves down by $1.4 bn to over $631 bn
India's foreign exchange reserves declined by $1.425 billion during the week ended February 25.The Reserve Bank of India's forex reserves decreased to $631.527 billion from $632.952 billion reported for February 18. The country's forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF.
RIL opens state-of-the-art Jio World Centre in Mumbai
Reliance Industries Ltd (RIL) on Thursday inaugurated India's largest and multi-faceted destination, the 'Jio World Centre', spread over 18.5 acres at the prime Bandra Kurla Complex. Envisioned by RIL Director Nita Ambani, the complex was launched by dedicating the 'Dhirubhai Ambani Square' and a musical 'Fountain of Joy', besides the country's biggest Jio World Convention Centre.
Domestic wheat prices hit fresh high on export demand
Prices of wheat in India hit a fresh lifetime high on Friday due to a strong export demand for the foodgrain. The ongoing war between Russia and Ukraine is expected to reduce supply as both the countries are major producers of wheat. In the key market of Indore in Madhya Pradesh, the foodgrain was sold at Rs 2,400-Rs 2,500 per quintal (100 kg) on Friday as against Rs 2,400 the previous day.
Sanctions on Russia will lead to cost escalation, disruption in supply chain
Sanctions on Russia will lead to cost escalations because of alternative sourcing, delays in establishing new sources, delays in payments and consequent deferrals in shipment releases, among others. In addition, the sanctions will impact the prices of aluminium, nickel, steel, thermal coal, and PCI coal positively, Motilal Oswal Institutional Equities said in a report.
Equity settles low, Nifty auto top loser on subdued retail sales
India's key indices -- S&P BSE Sensex and NSE Nifty50 - fell sharply during the session and settled lower on Friday. Sensex settled 769 points, or 1.4 per cent, down at 54,334, whereas Nifty dipped 253 points, or 1.5 per cent, down at 16,245. On the sectoral front, Nifty auto was the top drag, declining 3.6 per cent, NSE data showed.
Don't Miss
Advertisement