BUSINESS
ITC is both a top dividend-yielding and a growth stock
For the current year, the ITC Board has recommended an Interim Dividend of Rs 5.25 per share for the financial year ending 31st March 2022. For 2020-21, the company's board had approved a final dividend of Rs 5.75 per share along with the financial results. With this the company's dividend for the full financial year 2021 stood at Rs 10.75 per share, translating to a dividend yield of 5.07 percent.
BharatPe sacks Ashneer Grover's wife over 'misappropriation of funds'
Sources on Wednesday confirmed to IANS that Madhuri Jain's contract was terminated as the probe has found misappropriation of funds during her time at the fintech platform. "Madhuri Jain's contract has been terminated and the reasons for this are misappropriation of funds and authorization of inflated bills during her tenure," said the source. BharatPe did not immediately respond to the development.
Equities rise in early trade; Sensex gains nearly 200 pts
"The major impact of the Ukraine crisis in India is the implications on crude at $97. If crude sustains around these high levels, inflation in India is sure to go up, forcing the RBI to revise its FY 23 inflation target upwards and signal withdrawal from the accommodative monetary stance. This would be negative for the growth and earnings perspective," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
'Indian textile exports likely to breach $100 bn mark in next 5 yrs'
"The country's textile exports can increase from the current $40 billion to $100 billion in the next five years," he said in his address at the 44th Foundation Day of Apparel Export Promotion Council (AEPC). Singh said that the Indian apparel industry must focus on vertical integration to increase its scale and size and to benefit from the Production Linked Incentive (PLI) scheme.
Russia-Ukraine tensions send crude oil, gold prices spiralling high
The rising geo-political tensions sent Brent-indexed crude oil prices over $95 per barrel, the highest in several years. Similarly, gold prices traded higher with spot gold prices at COMEX rising to over $1,900 per ounce. The rise in prices was triggered after Russian President Vladimir Putin ordered the deployment of troops into two separatist areas within Ukraine.
Oil prices rise amid Ukraine tensions
The West Texas Intermediate for March delivery added 1.28 dollars, or 1.4 per cent, to settle at 92.35 dollars a barrel on the New York Mercantile Exchange, on its expiration day. Brent crude for April delivery increased 1.45 dollars, or 1.5 per cent, to close at 96.84 dollars a barrel on the London ICE Futures Exchange. The front-month contract of the international benchmark notched its highest finish since September 29, 2014, according to Dow Jones Market Data.
Global markets tumble after Russia sends in troops
As Russian President Vladimir Putin ordered forces into separatist regions of eastern Ukraine, the benchmark index of Britain's leading companies dropped by 1.53 per cent or 115 points to 7,370 in early trading in London this morning.
Over $30 bn wiped off the value of Russian stocks this week
Moscow's MOEX stock index dropped 1.5 per cent after shedding more than 10 per cent on Monday, bringing losses so far this year to about 20 per cent. Shares in Russian oil company Rosneft were hardest hit on Tuesday, dropping 7.5 per cent. In total, more than $30 billion has been wiped off the value of Russian stocks this week alone, the report said.
Musk accuses SEC of leaking information from federal probe
In a letter on Monday to US District Judge Alison Nathan, Musk's attorney Alex Spiro wrote that "it has become clearer and clearer that the Commission is out to retaliate against my clients for exercising their First Amendment rights -- most recently by criticising the Commission on the public docket and by petitioning this Court for relief", reports CNBC.
Russia will have to tackle surging prices amid falling ruble as uncertainty rises in region
The current inflation rate is almost double of the 4 per cent inflation target set by the Central Bank of Russia (CBR) despite aggressive monetary tightening. But as Russian President Vladimir Putin on Monday announced recognition of two separatist ruled regions in Ukraine as independent states, uncertainty for the common citizens has risen even more with the West already threatening to impose sanctions.
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