Business news 11 Mar, 2021
Kalyan Jewellers India IPO to open for bidding on March 16, price band fixed at Rs 86-87 - Moneycontrol.comMoneycontrol
As of March 9 this year, promoter and promoter group held approximately 67.99 percent equity of the pre-offer issued paid-up capital.
Can Bhavish Aggarwal make Ola Electric work? - MintLivemint
The EV space is also unlike the cab hailing or other digital businesses that Ola has entered
Bajaj Pulsar 250 Digitally Rendered Based On Spy Pictures - GaadiWaadi.comGaadiWaadi.com
The upcoming Bajaj Pulsar 250 will likely be powered by a new air/oil-cooled 250cc engine, and will be aimed towards budget-conscious buyers
Asian stocks set to firm after Dow hits record - Moneycontrol.comMoneycontrol
Japan’s Nikkei 225 futures added 0.02%. Hong Kong’s Hang Seng index futures rose 0.03%. Australia’s S&P/ASX 200 index gained 0.12% in early trading. E-mini futures for the S&P 500 rose 0.24%.
2-day bank strike: SBI branches, ATM services may be hit - MintLivemint
The working of the State Bank of India (SBI) is likely to be affected on 15 and 16 March due to a 2-day nationwide bank strike
Warren Buffett's fortune tops $100 billion as his stock soars - MintLivemint
Berkshire Hathaway's Class A shares climbed to $407,750 Wednesday before giving up some ground to close the day at $398,840
Need compensation for content, NBA writes to Google - Times of IndiaThe Times of India
India News: News Broadcasters Association, apex body of private television channels, has written to the country head of Google India asking the tech giant to crea
Iran Pushes Development Of Major Oil Region Under 25-Year China Deal - OilPrice.comOilPrice.com
Tehran is pushing to increase oil output from all available fields in the coming 12 months, focusing mainly on the very prolific West Karound area
Govt seeks to firewall telecom infra from Chinese threat - Times of IndiaThe Times of India
India Business News: In a move that will restrict the business of top Chinese vendors such as Huawei and ZTE in India’s 4G telecom expansion and the upcoming 5G, the gover
Oil Rebounds as Market Looks Beyond US Production Mark-Up By Investing.com - Investing.comInvesting.com
Oil Rebounds as Market Looks Beyond U.S. Production Mark-Up
Sweden's Scania admits 'misconduct' in India after contract-for-bribes report - Economic TimesThe Times of India
SVT's allegations ministerns-dotters-brollop included that Scania delivered a specially equipped bus to a company with connections to India's Minister of Transport Nitin Gadkari that was intended for his daughter's wedding and was not fully paid for.
Commodities spike set to test market bull run - MintLivemint
Surging raw material costs may severely dent corporate earnings.Some companies have raised prices to offset rising costs, risking a slump in demand, while others have decided to absorb them
PSBs eye lateral hires to fill e-banking roles - MintLivemint
They are roping in specialists even for junior roles from IT cos, pvt lenders
Gold pauses after Tuesday's rally, bulls have a bit of momentum - Kitco NEWSKitco NEWS
Senior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Internet and Mobile Association of India appeals to the government not to ban Crypto - ZyCryptoZyCrypto
India has a very interesting and complicated relationship with the cryptocurrency industry. In the past, crypto businesses were prevented
Credit Suisse scrambles to contain $10 billion Greensill aftershocks - MoneycontrolMoneycontrol
Greensill began to unravel last week after losing insurance coverage for its debt repackaging business, prompting Credit Suisse to freeze its Greensill-linked funds.
Tata Motors vs Delhi govt: Court grants interim relief over delisting of Nexon EV - Times of IndiaThe Times of India
Cars News: “The Delhi high court has issued notice on our writ and granted interim relief by directing a stay against the delisting of Nexon EV from Delhi govern
M&M Plans Electric Variants Of All Its SUVs - Exclusive - BloombergQuintBloombergQuint
The automaker has a two-pronged strategy to strengthen its position in the EV market.
GE claims top spot in 2020 wind rankings - reNEWSreNEWS
Vestas dropped to third place after Goldwind in a record year for new capacity additions, says BNEF
Gold rates flat at Rs 44,680 per 10 gram as dollar rebounds; silver rises Rs 83 a kg - Moneycontrol.comMoneycontrol
The gold/silver ratio currently stands at 67.31 to 1, which means the number of silver ounces required to buy one ounce of gold.
Pfizer Wants To Make Vaccine In India If Faster Clearance Assured: Report - NDTVNDTV News
Pfizer Inc has told the government it wants to produce its coronavirus vaccine locally if assured of faster regulatory clearance and freedom on pricing and exports, two sources with direct knowledge of the matter told Reuters.
Swiggy beefs up subscription plan ‘SUPER’ - MintLivemint
Swiggy SUPER will offer three different plans called -- Binge, Bite and Bit.SUPER was launched in 2018 and has already benefited close to 4 million users since inception
India to Tax Solar Equipment Imports to Help Local Companies - BloombergQuintBloombergQuint
India will levy a 40% customs tax on imports of solar modules from April next year to cut dependence on foreign supplies.
Share Market Highlights: Sensex ends 254 pts higher, Nifty still below 15,200; Bajaj Finance, Sun Pharma top gainers - The Financial ExpressGoogle News
2021 Renault Triber compact MPV launched at Rs. 5.30 lakh - CarToq.comCarToq.com
Earlier, some pictures of the upcoming 2021 Renault Triber were leaked online. Now, Renault has officially launched the 2021 Triber in the Indian market. The manufacturer has not made any cosmetic or mechanical changes, but they have added some features that …
Easy Trip Planners IPO: Grey market premium, other details in 10 points - MintLivemint
Easy Trip Planners IPO: The share allotment in Easy Trip Planners is likely to be finalised on March 16 and shares may list on March 19
OVHcloud data centers engulfed in flames - ZDNetZDNet
Updated: Customers are being urged to launch their own disaster recovery plans.
Axis Bank launches India's first wearable contactless payment devices at ₹750 - MintLivemint
Axis Bank's new 'Wear N Pay' devices are available in a variety of accessories like band, key chain and watch loop.These wearable devices can be worn easily to carry out contactless transactions on the go
Elon Musk hits another milestone, gains $25 billion in a single day surge - MoneycontrolMoneycontrol
The single-day surge took Elon Musk's overall wealth to $174 billion. The tech billionaire is now the second-richest man close after Amazon founder Jeff Bezos, according to Bloomberg Billionaire Index.
Push savers to invest in capital market: Uday Kotak - MintLivemint
Uday Kotak pointed out that bulk of Indian savings are risk-averse.Kotak said India needs to develop a stronger equity and risk culture, combined with cutting-edge governance
JSW Steel shares gain after ICRA reaffirms long-term rating, but upgrades outlook from stable to positive - Moneycontrol.comMoneycontrol
The rating agency also reaffirmed the company's short-term (bank facilities and commercial paper) to ICRA A+
2021 Mercedes-Benz E-Class Facelift Teased; India Launch On March 16 - GaadiWaadi.comGaadiWaadi.com
2021 Mercedes-Benz E-Class facelift gets a host of exterior and interior changes along with new equipment onboard
MTAR Tech, Easy Trip, Laxmi Organic, Anupam Rasayan IPOs: Grey market premiums zoom; should you buy? - The Financial ExpressGoogle News
Shapoorji Pallonji One-Time Restructuring Plan In Final Stages - BloombergQuintBloombergQuint
Shapoorji Pallonji finalises resolution plan for Rs 11,000 crore in debt.
ICICI Bank to pay for Covid shots for employees and their family members - MintLivemint
ICICI Bank will bear the cost of Covid-19 vaccination for employees and their immediate family members
Google has ‘bad news’ for YouTube content creators in India and other countries - Gadgets NowGadgets Now
Google just made an announcement that can make YouTubers a bit poorer in India and other regions. The search giant in an email to all YouTubers informed that it will be “required to deduct U.S. taxes from payments to creators outside of the US”. American YouT…
After Budget Day, Investors Withdrew Rs 17,220 Crore From Stocks, Bond Markets - NDTV ProfitNDTV News
Corporate bonds saw the biggest outflows in about two years after the government last month announced a bigger-than-expected borrowing plan in its budget, triggering a spike in yields
IT shares in focus; KPIT, L&T Technology, Mindtree hit record highs - Business StandardBusiness Standard
The $1.9 trillion Covid relief bill stimulus, if passed, will boost the US economy and will, in turn, positively impact the IT industry, ICICI Securities said in a note
Auto stocks edge higher after February PV retail sales grow 11%; Jefferies picks Eicher Motors, TVS Motor - Moneycontrol.comMoneycontrol
"Premium motorcycles have performed better than entry-level bikes in recent months. We maintain our preference for urban exposure in 2-wheelers and prefer TVS Motor and Eicher Motors," Jefferies said.
Operation Panopticon: Hackers Breach Cameras at Tesla, Banks, Jails, and More - Gadgets 360NDTV News
A US hacker collective claimed to have tapped into footage from 150,000 security cameras at banks, jails, schools, carmaker Tesla, and other sites to expose "the surveillance state."
The ‘missing middle’ in India’s economic recovery - Hindustan TimesHindustan Times
Limping small businesses, which make up more than a quarter of India’s GDP and over 40% of manufacturing output, are key to a broad-based recovery. The pandemic caused revenues of smaller firms to plunge sharper than larger firms, the main reason for job loss…
Indian economy to be hardest hit by Covid-19 despite recovery, predicts new OECD report - Scroll.inScroll.in
The high growth in 2021 cannot undo the damage caused by the country’s harsh lockdown.
Saudi Arabia’s oil hawkishness is forcing India to look for other sources - ThePrintThePrint
Higher oil prices are likely to add more impetus to India’s push for cleaner sources of energy as the country targets for 40% of its energy needs to come from green sources by 2030.
Stocks to watch: Voda Idea, Godrej Properties, PFC, AU Small Fin Bank, BPCL - Business StandardBusiness Standard
AU Small Fin Bank launched its QIP on March 9 and fixed the floor price at Rs 1,181.06 per share
TRAI suspends new SMS scrubbing norms for 7 days - The Indian ExpressThe Indian Express
The action by Trai comes after the functioning of several SMS-based services of banks and e-commerce platforms was hit on Monday as TSPs implemented the second phase of SMS regulation.
Microsoft Exchange Mass Cyber Attack Causing Rampant Damage to Millions Worldwide - News18News18
Even though the Microsoft Exchange mass cyber attack is a developing story right now, it has caused enough damage to companies (and in turn users) globally to catch headlines around the world.
Read India’s Tea Leaves in Bonds, Not Stocks - BloombergQuintBloombergQuint
Gas prices & higher yield curve are better indicators of rising discontent than shares floating on government-injected liquidity.
Flipkart to cover vaccination cost of employees and their families - Moneycontrol.comMoneycontrol
The company has given the employees an option to either get reimbursed for the costs of the vaccinations or get them for free at a partner hospital.
NPCI on its toes as RBI hunts for new umbrella entity for retail payments - MoneycontrolMoneycontrol
With this whole NUE conversation, there is a lot of pressure on the NPCI to kind of continue the innovation journey, says Managing Director and Chief Executive Officer of NPCI Dilip Asbe.
Olas founding partner Pranay Jivrajka quits, may launch his own startup - Business StandardBusiness Standard
Pranay Jivrajka was CEO of Ola Foods and an early employee of the ride-hailing firm
Reliance Jio introduces new fiber broadband plans for small, medium businesses - MintLivemint
The company aims to provide enterprise-grade Fiber connectivity that offers voice and data services at comparatively lower prices
New vehicle registrations down by 13.43% in February 2021 - Team-BHPTeam-BHP
According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle registrations fell by 13.43% in February 2021. Overall sales stood at 14,99,036 units, compared to 17,31,628 units in February 2020. The passenger vehicle segm…
After The Bell: Nifty back above 15,000; what should investors do on Wednesday? - Moneycontrol.comMoneycontrol
The expected levels of Nifty are likely to be in the range of 14,900 and 15,100, and it’s going to be crucial for the short-term market scenario to sustain above the 14,900 Nifty50 index level, said an expert.
Paras Defence and Space Technologies files IPO papers - Economic TimesThe Times of India
The offering comprises fresh issuance of shares worth Rs 120 crore and an offer of sale of up to 17,24,490 equity stocks by promoters and existing shareholders, the draft red herring prospectus (DRHP) filed with Sebi showed.
Cryptocurrency in India: The past, present and uncertain future - Economic TimesThe Times of India
To understand the ongoing controversy over cryptocurrency in India, we need to examine how we got here.
Explained: Why Ola is building a mega two-wheeler factory in Tamil Nadu - The Indian ExpressThe Indian Express
Ola's mega factory in Tamil Nadu: How big is it? When will it be set up? What will be manufactured here? How many jobs will it create? All your questions answered.
Burger King deletes sexist tweet on International Women’s Day, but netizens are not convinced - The Indian ExpressThe Indian Express
"Women belong in the kitchen," a tweet and ad by the popular fast food brand said. Although it was intended to highlight lack of female representation in restaurant industry, their campaign backfired.
Explained: What does the new rule on airbags mean for passengers, carmakers? - The Indian ExpressThe Indian Express
The Central government's decision of making passenger airbags mandatory for all vehicles is part of its plan to improve safety norms in the country.
Volvo XC40 Recharge unveiled in India, booking starts in June - Times of IndiaThe Times of India
Cars News: Bookings will commence in June and deliveries will start in October this year. XC40 Recharge is the second premium electric SUV in the market and will
SpaceX plans to connect vehicles to Starlink internet: FCC request - Business InsiderBusiness Insider
Elon Musk's SpaceX filed an FCC request for the expansion of Starlink into the automotive industry. This wouldn't cover Tesla cars, Musk said.
Craftsman Automation IPO opens March 15; check issue size, price band, other details - The Financial ExpressGoogle News
PUBG developer Krafton invests Rs 164 Cr for 15% stake in Nodwin Gaming - EntrackrEntrackr
Esports platform Nodwin Gaming has raised Rs 164 crore from Krafton, the developer of PUBG Mobile. This is the maiden investment by the South Korean firm in India. While Nodwin did not divulge the details of the transaction, the company’s regulatory filings s…
MTAR Tech IPO: How to check share allotment status - Hindustan TimesHindustan Times
Here’s how investors can check the share allotment status for MTAR Technologies through KFin Tech Private Ltd website or through BSE website
India’s Cement Stocks On The Cusp Of A New Cycle, Says Morgan Stanley - BloombergQuintBloombergQuint
Morgan Stanley lists Ambuja Cements, UltraTech Cement and Grasim Industries as its top picks among cement makers.
Gold prices are falling and the world’s biggest market for the yellow metal is hoping for more shoppers - Business Insider IndiaBusiness Insider India
Gold prices are falling for the third consecutive week as the Indian economy recovers and the number of COVID-19 cases decline. The diminishing value of the
Clarity emerges on income tax rules for NRIs stranded in India due to COVID-19 - Moneycontrol.comMoneycontrol
Many non-resident Indians couldn’t return to their countries due to the lockdown. The tax department has clarified the rules for determining their residential status
Easy Trip Planners IPO day 2: Issue subscribed 7.20 times, HNIs portion booked 4 times - Moneycontrol.comMoneycontrol
Mehta Equities believes Easy Trip Planners IPO gives investors an opportunity to invest in a digital high-growth travel business that is into travel-related end-to-end solutions services.
Excess debit in Kotak Mahindra Bank customers’ accounts due to PSU Bank’s error - MoneycontrolMoneycontrol
Kotak Mahindra Bank has reversed all excess debits, the bank said.
LIC loses market share again, while ICICI Pru sees first signs of growth - MintLivemint
LIC relies on the heft of its agency network to push products while pvt insurers tapped online sales.While most private insurers saw their market share erode, ICICI Prudential’s retail APE grew 6%