BUSINESS
DB Realty shares hit 5% upper circuit on favourable ruling by SC
Shares of DB Realty hit the 5 per cent upper circuit on Wednesday as the company informed the stock exchanges that the firm has won the title of a land owned by it in Mumbai.Shares of DB Realty hit the 5 per cent upper circuit on Wednesday as the company informed the stock exchanges that the firm has won the title of a land owned by it in Mumbai.
Cost of War: Brent Crude breaches $111 mark; highest in 8 yrs
Lower supplies as well as hostilities between Russia and Ukraine pushed Brent crude oil price to nearly an 8-year high on Wednesday. Besides, robust global demand is expected to keep the Brent-index crude oil price high.
Urban Company to award shares worth Rs 150 crore to gig workers
The company has already got board approval for the first tranche of Rs 75 crore worth of stocks, to be disbursed over the next 3-4 years. "The Partner Stock Ownership Plan (PSOP) will help thousands of service partners become shareholders of the company, thereby enabling broad-based wealth creation through equity sharing," said Raghav Chandra, Co-founder of Urban Company.
IMF, World Bank to boost financial & policy support to Ukraine
IMF Managing Director Kristalina Georgieva and World Bank Group President David Malpass said in a joint statement that commodity prices are being driven higher and "risk further fueling inflation," which hits the poor the hardest, Xinhua news agency reported. The two institutions are assessing the situation and discussing appropriate policy responses with their international partners.
NGT disposes of plea alleging groundwater extraction near Ramleela ground in Delhi
The bench had intervened in the matter which is related to the implementation of the enactments mentioned in Schedule 1 of the NGT Act 2010. Tribunal found it appropriate to obtain a factual report for which joint Committee comprising Delhi Jal Board and Deputy Commissioner, North-West District, Kanjhawala was constituted.
Equities fall sharply in early trade; Sensex slips over 900 pts
Sensex was 1.6 per cent or 921 points down at 55,326 points, whereas Nifty 1.4 per cent or 232 points down at 16,562 points. Lower than expected GDP growth during Q3FY22 also weighed on the investors sentiment.
Microchip shortage, high cost subdues auto sector's Feb sales
On Tuesday, auto major Maruti Suzuki India reported that its total sales last month inched lower on a year-on-year basis to 1,64,056 units from 1,64,469 units sold during the same period of the corresponding year. Domestic sales were at 1,37,607 units, and sales to other original equipment manufacturers stood at 2,428 units.
IEA member nations to release 60 million barrels of oil
The 31 member countries of the governing board of the International Energy Agency (IEA) on Tuesday agreed to release 60 million barrels of oil from their emergency reserves to send a unified and strong message to global oil markets that there will be no shortfall in supplies as a result of Russia's invasion of Ukraine.The extraordinary governing board meeting, held at the ministerial level, was chaired by US Secretary of Energy, Jennifer Granholm, in her capacity as the chair of this year's IEA ministerial meeting.
Brent crude breaches $100 per barrel mark again
The rise in crude oil prices comes after negotiations failed to resolve the Russian-Ukrainian conflict. The Brent-indexed crude oil prices had risen by 5 per cent to over $98 per barrel on Monday. Russia is the third largest producer of crude oil in the world. It is feared that sanctions against Russia will start to curtail global supplies and stifle growth.
Russia-Ukraine crisis to widen India's CAD
Geopolitical risks emanating from the Russia-Ukraine conflict is expected to push India's import bill higher. Consequently, the trend will widen the country's Current Account Deficit. The crisis is expected to increase prices of mineral fuels and oils, gems and jewellery, edible oils and fertilisers. At present, India has a significant import dependence for these items.
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