Mergers and acquisitions hike 8% to $32.3 bn till April despite Covid -2
Sun, May 9, 2021 5:58 PM

Mergers and acquisitions hike 8% to $32.3 bn till April despite Covid -2

A robust 133% climb in the proceeds from initial public offerings (IPOs) is noticed on the deal street on a near roll in spite of the raging second wave of the pandemic, with the value of mergers and acquisitions increasing by 8% to USD 32.3 billion across 437 deals till end-April this year, says a report. Around 28 IPOs raised USD2.7 bn across 437 deals till the end-April of this year.

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Emirates not charging NGOs for transporting COVID relief to India
Sun, May 9, 2021 5:44 PM

Emirates not charging NGOs for transporting COVID relief to India

Emirates said on Sunday it will not charge NGOs to move their COVID relief material on its flights from Dubai to India. The airline said in its statement that Emirates's cargo capacity will be free of cost on an “as available" basis for all its flights going to nine cities in India, to help international NGOs speedily deliver their relief supplies to India.

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Number of SMEs going for restructuring 2.0 can be lower
Sun, May 9, 2021 5:35 PM

Number of SMEs going for restructuring 2.0 can be lower

The small and medium enterprises (SMEs) opting for the restructuring window offered under the Resolution Framework 2.0 by the Reserve Bank of India (RBI) recently, could see a much lower number than that are eligible. Crisil believes that the impact of the pandemic will stretch until next 2-3 months. Around 3,500 companies rated by Crisil are SMEs with bank loan submission of up to Rs 25 crore

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Godrej Properties expects FY22 sales will surpass its last year's record
Sun, May 9, 2021 5:25 PM

Godrej Properties expects FY22 sales will surpass its last year's record

Godrej Properties eyes on ts sales booking this fiscal will exceed the last year's record of Rs 6,725 cr despite the outbreak of second wave of COVID-19. It is also looking forward to cross Rs 10,000 cr target in the next financial year. Executive Chairman Pirojsha Godrej said, Mumbai-based Godrej Properties expects “muted” sales in the April-June quarter because of COVID outbreak.

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National Asset Reconstruction Company is expected to function in June
Sun, May 9, 2021 5:16 PM

National Asset Reconstruction Company is expected to function in June

National Asset Reconstruction Company Ltd (NARCL), is likely to commence working in June, coined for bad bank. Bad bank refers to a financial institution that undertakes bad assets of lenders and provides resolution. Indian Banks’ Association Chief Executive Officer (CEO) Sunil Mehta said, The new entity is being created in alliance with both public and private sector banks.

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ArcelorMittal Nippon Steel India & Odisha govt. eyes on 12 mn steel plant
Sun, May 9, 2021 5:03 PM

ArcelorMittal Nippon Steel India & Odisha govt. eyes on 12 mn steel plant

The Gujarat-based ArcelorMittal Nippon Steel India (AM/NS India) along with the Odisha government has started working for its proposed 12 million tonne per annum (MTPA) integrated steel plant in Kendrapara district of the state. In March 2021, they both signed a memorandum of understanding (MoU) for establishing the greenfield project in Kendrapara by investing Rs 50,000 cr.

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FPIs take out Rs 5,936 cr again from equities due to COVID worries
Sun, May 9, 2021 4:10 PM

FPIs take out Rs 5,936 cr again from equities due to COVID worries

Foreign investors have withdrawn Rs 5,936 cr from the Indian equities in the first week of May due to intense worries over second wave of COVID infection and its impact on the economy. In April as well, Foreign investors had withdrawn Rs 9,659 cr after infusing money in the preceding six months, according to the depositories' data. FPIs invested over Rs 1.97 lakh cr in equities during Oct20-Mar21.

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Mamata Banerjee urges PM Modi to waive taxes on medical resources
Sun, May 9, 2021 4:02 PM

Mamata Banerjee urges PM Modi to waive taxes on medical resources

West Bengal Chief Minister Mamata Banerjee on Sunday urged Prime Minister Narendra Modi via a request letter to waive taxes and customs duty on equipment and drugs being used to fight the COVID-19 pandemic. Banerjee also requested to brace health infrastructure and expand supplies of equipment, medicines and oxygen for treatment of coronavirus-positive patients.

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Reliance Retail second fastest growing retailer in 2021 worldwide rankings
Sun, May 9, 2021 3:04 PM

Reliance Retail second fastest growing retailer in 2021 worldwide rankings

Billionaire Mukesh Ambani's Reliance Retail Ltd ranked as second fastest growing retailer in the 2021 worldwide ranking of global retail power houses by Deloitte, though it secured top ranks in the previous years. In the list of Global Powers of Retailing it ranked 53rd, improved from 56th earlier. The US giant Walmart Inc has topped the list of world’s top retailers, Amazon stood at second place.

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Fincare Small Finance Bank plans to raise Rs 1,330 Cr
Sun, May 9, 2021 2:16 PM

Fincare Small Finance Bank plans to raise Rs 1,330 Cr

Fincare Small Finance Bank, the Bengaluru-based microfinance company, has filed draft red herring prospectus (DRHP) with the capital markets regulator Securities and Exchange Board of India (SEBI) to uplift Rs1,330 cr via initial public offering (IPO). The public offer comprises a fresh issue of Rs 330 cr by the bank, and an offer for sale of Rs 1,000 cr by promoter Fincare Business

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8 cr traders in retail sector incur loss of Rs 6.25 lakh cr in April
Sun, May 9, 2021 2:03 PM

8 cr traders in retail sector incur loss of Rs 6.25 lakh cr in April

Around 8 crore traders in India have incurred a cumulative business loss of Rs 6.25 lakh cr during April due to lockdowns, curfews, etc., imposed by state governments amidst COVID. The traders’ community Confederation of All India Traders in a statement showed the data for over 40,000 associations. The cumulative revenue loss to the government stands about Rs 75,000 crores,” CAIT said.

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Coal India will keep up its fuel supply to power plants
Sun, May 9, 2021 1:25 PM

Coal India will keep up its fuel supply to power plants

State-owned CIL will carry on with its supply of coal to the power plants under import substitution in the current fiscal. The practice conclude significance of the PSU earlier stating its drive for coal import substitution has gained speed with consumers ordering 90 million tonnes (MT) of indigenous coal in FY'21. This decision came out in meeting chaired by Joint Secretary, Ministry of Coal.

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Twitter rival Koo will double its user base to assist in medical leads
Sun, May 9, 2021 1:09 PM

Twitter rival Koo will double its user base to assist in medical leads

Homegrown microblogging platform Koo is deciding to double its headcount within a year as it significantly ramp up its user base on the platform, especially vernacular subscribers. Koo co-founder Aprameya Radhakrishna talks about its current user base of 6 million has a lot to grow, slew of initiatives will be taken to make it easier for people to find leads for hospital beds and oxygen cylinders.

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✅ These six stocks retained their place in Sensex since inception!
Sun, May 9, 2021 1:00 PM

✅ These six stocks retained their place in Sensex since inception!

BSE Sensex was launched in 1986, and since then only 6 companies retained their place in the 30-share index. Check out these stocks (along with their m-cap, as of May 07, 2021) : [1] Reliance Inds (Rs 1,244,741.90 cr), [2] Hindustan Unilever (Rs 566,950.71 cr), [3] ITC Ltd (Rs 252,762.12 cr), [4] L&T (Rs 188,617.73 cr), [5] Nestle Ltd (Rs 161,530.55 cr), [6] Mahindra & Mahindra (Rs 95,371.52 cr).

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Market capitalization of 8 stocks dashes by Rs 81,251 crore
Sun, May 9, 2021 11:04 AM

Market capitalization of 8 stocks dashes by Rs 81,251 crore

Eight of the top-10 most-valued companies all together added Rs 81,250.83 cr in market valuation last week, with Tata Consultancy Services came out as the biggest gainer, reached Rs 11,58,542 Cr. Only Reliance Industries Ltd and Infosys took losses whereas rest 8 grabbed the gain, namely TCS, HDFC Bank, Hindustan Unilever Ltd, HDFC, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance and SBI.

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