Business news 12 Feb, 2021

Chanda Kochhar Granted Bail, Can't Leave Country Without Court Permission - NDTV

Former ICICI Bank CEO Chanda Kochhar has been granted bail - on a bond of Rs 5 lakh - by a special PMLA Mumbai court in connection with an alleged money laundering case involving the bank and the Videocon Group

Petrol, Diesel Prices At All-Time Highs, Hiked For Fourth Straight Day - NDTV Profit

In Delhi, the price of petrol was hiked by 29 paise from Rs 87.85 to Rs 88.14, and diesel was increased by 35 paise from Rs 77.03 per litre to Rs 78.38 per litre, according to Indian Oil Corporation

MARKET LIVE: Indices at days high, Sensex up 200 pts; IT stocks outperform - Business Standard

LIVE market: India VIX cooled off 4 per cent to 22.1 levels

Women-Led Dating App Bumble's 31-Year-Old Founder Becomes Billionaire - NDTV

A company catering to women and led by women has made its 31-year-old female founder a billionaire.

Here’s why Grofers may allow an American 'blank cheque' firm to buy it out instead of fighting Ambani and BigB - Business Insider India

The Softbank-backed startup is planning to head for a listing in the US through a special purpose acquisition company.Grofers is now seeking a valuation of

Clubhouse, Elon Musk's Buzzy Hangout, Drives Billions To Chinese Startup - NDTV Profit

Agora has soared more than 150% since mid-January when online chatter began to circulate about how it powers the world's hottest new social media forum

2021 Jawa Forty-Two Launched; Priced At Rs. 1.84 Lakh - carandbike

The updated Jawa Forty-Two gets three new colours, a blacked out theme, alloy wheels with tubeles tyres and a few other small changes.

10 mutual fund schemes gain over 45% in three months; invested in any of them? - Moneycontrol.com

The top five mutual fund schemes are dominated by the banking sector. The funds are actively investing in equity and equity-related securities of companies in the Banking Sector.

With rising competition, Berger Paints' valuations look weirder - Mint

Even though the management is not perturbed by the rising competition, however, analysts believe although valuations have cooled off, they still seem unreasonable.

Biocon Biologics, Viatris receive EC approval for biosimilar insulin aspart Kixelle - Moneycontrol

This follows the positive recommendation by the Committee for Medicinal Products for Human Use of the European Medicines Agency, a Biocon statement said on Friday.

Life without Google: Australia is now facing the unthinkable - Hindustan Times

Google opposes a planned law that would force the company and Facebook Inc. to pay Australian publishers for news content.

SoftBank to lead a $250 Mn round in Meesho at $1.5-1.8 Bn valuation - Entrackr

Social commerce platform Meesho, which has been in conversations for a new financing round, is all set to onboard a new investor: SoftBank. The Japan’s software giant is in late-stage talks to lead a round that can go as high as $250 million, said three peopl…

Ashok Leyland Stock Falls On Q3 Loss - BloombergQuint

Ashok Leyland posted an exceptional loss of Rs 46 crore in the third quarter.

RBI Currency Strategy Draws More Hot Money To India, Spurs Vicious Cycle - NDTV Profit

RBI's balancing act to keep the rupee stable amid heavy foreign inflows while also keeping excess liquidity in check is flooding the market with more foreign funds

Franklin Templeton's repayments to unitholders start next week: 5 key investor queries answered - Moneycontrol.com

If you are a unitholder of Franklin Ultra Short Bond Fund, you will receive around half of your money

Sun Pharma share price falls on settlement order by SEBI, here is what brokerages have to say - Moneycontrol.com

Research house Macquarie has kept outperform rating with a target at Rs 700.

Gold prices today fall for 2nd day, down ₹9,000 from record highs - Mint

A stronger US dollar and higher US bond yields put pressure on gold.Analysts however say that the correction in gold prices could help boost physical gold demand in India

Domestic Air Travel Becomes Expensive By 30 Percent, Know What Will Be Fare Now - Punekar News

New Delhi, February 12, 2021: The government has increased the lower and upper limit of...

What should investors do with ITC post Q3: buy, sell or hold? - Moneycontrol.com

Consolidated revenue from operations grew by 6.1 percent year-on-year to Rs 14,124.48 crore in Q3FY21, with cigarette business showing 2.5 percent YoY growth in operating revenue

Mahindra Marazzo Diesel AMT Homologated Before Launch - Details Leak - RushLane

Mahindra Marazzo Diesel AMT will be launched soon in variants of M2, M4+ and M6+ in 7 as well as 8 seater option.

Markets Live: Sensex, Nifty Decline; FMCG Stocks Drag - BloombergQuint

Catch all live updates on share prices, index moves, corporate announcements and more from Indian stock markets today.

Beware! Don’t buy motor insurance from this company; IRDAI sounds alarm - The Financial Express

News: Ratan-Tata backed AI startup to triple headcount — People Matters - People Matters

Stocks in focus: ITC, SpiceJet, IndiGo, Sun Pharma, BPCL, Coal India, among others - The Financial Express

RailTel Corporation shares trade at 16% premium in grey market ahead of IPO - Moneycontrol.com

The issue, which comprises a full offer for sale of 8,71,53,369 equity shares by the Government of India, will fetch the government Rs 819.24 crore at higher price band.

DAILY VOICE | This fund manager with experience of over 2 decades has advise for retail investors post... - Moneycontrol.com

Retail Investors would indeed laud the budget as it has touched upon the key imperative sectors of the economy, says Kumar.

India red-hot investment opportunity for its clean energy transition: John Kerry - Hindustan Times

Looking forward to visiting India soon, Kerry said that the prime minister has made a very important contribution to this dialogue.

Top stocks in focus: Infosys, Sun Pharma, Power Grid, ITC, Grasim - Indiainfoline

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

Analysts raise transparency concerns at Reliance Industries and its units - Mint

The lack of disclosures leads us to believe that RIL’s biz have been severely impacted by the crisis, say analysts

Get ready for hefty penalty to legalize your crypto assets - Mint

The bill may allow holders of such currencies a transition period to exit the asset class before its anticipated ban

Fare limits raised by up to 30%, air travel to be dearer - The Indian Express

When the Centre reopened domestic air travel in May, it imposed fare restrictions, via bands, for flights to ensure that dynamic pricing does not hurt the consumer.

Ashok Leyland posts net loss of ₹19.4 crore on VRS costs - The Hindu

Revenue rises 20% to ₹4,814 crore

ITC Q3 Results: Profit Falls 12% But Meets Estimates - BloombergQuint

The company’s net profit fell 12% year-on-year to Rs 3,662.85 crore in the quarter ended December.

OPEC again cuts 2021 oil demand view, sees H2 pickup - Moneycontrol.com

The prospect of weaker demand has already prompted OPEC and its allies, known as OPEC+, to slow their plan to boost output.

Bitcoin surges to all-time high after BNY Mellon embraces cryptocurrencies - Moneycontrol.com

The new unit at BNY Mellon, called the Digital Assets unit, is expected to roll out the offerings later this year, the bank said.

Average time spent by Indians on smartphones highest globally: Nokia report - Times of India

India Business News: Average time spent by Indians on smartphones is the highest in the world and the duration for watching short videos is likely to rise 4-fold by 2025,

SpiceJet to start Ahmedabad-Amritsar, 23 other domestic flights - The Tribune India

The new flights include four new seasonal flights connecting Jaisalmer with Delhi and Ahmedabad

RIL surges 4%, lifts Sensex, Nifty to new closing highs. What analysts say - Mint

Besides RIL, other top gainers among Sensex stocks included HUL, Bajaj Finance, Sun Pharma

ACC Q3 results: Net profits jumps 73% to Rs 472.4 crore - Economic Times

Its total revenue from operations in October-December 2020 rose 2.08 per cent to Rs 4,144.72 crore, against Rs 4,060.31 crore in the year-ago period.

MG Hector & Hector Plus Receive Yet Another Price Hike – Details - GaadiWaadi.com

Both the MG Hector and Hector Plus are offered with a 1.5-litre turbocharged petrol engine rated at 143 PS/250 Nm and a 2.0-litre oil burner producing 170 PS and 350 Nm

Adar Poonawalla on why he is buying Magma Fincorp - Economic Times

There is a huge growth potential in financial space over the next decade if not longer in India.

Jalan Kalrock Consortium rubbishes rumours of its withdrawal from revival of Jet Airways - Moneycontrol

In December 2020, the consortium, which had won the bid to revive Jet Airways, expected to start operating the airline by the summer of 2021.

What does a doctor do with spare Covid vaccines? - Times of India

US News: Ten doses of the Covid-19 vaccine would expire within hours, so a Houston doctor gave it to people with medical conditions, including his wife. What f

ArcelorMittal Names Aditya as New CEO, Plans $1 Billion Cost Savings, Axeing 20% of Office Staff - News18

ArcelorMittal, the world’s largest steelmaker, plans to cut 20% of its office staff in a $1 billion cost-reduction plan, it said on Thursday after posting higher than expected fourth-quarter earnings and restored dividend payments.

Illegal, arbitrary and without jurisdiction: Amazon moves Supreme Court against Delhi High Court stay on Future- Reliance deal status quo - Bar & Bench - Indian Legal News

Amazon has said that the stay order was hastily passed without appreciating the “Group of Companies” doctrine.

Analysts bullish on this Jhunjhunwala favourite post Q3 numbers; heres why - Business Standard

Ace investor Rakesh Jhunjhunwala holds 5.32 per cent stake in the company as of December quarter

Renault Kiger Booking Amount, Price Announcement On 15th Feb - India Car News

Renault India is all set to mark its entry into the highly competitive sub-4 metre SUV segment next week. The French carmaker will roll out the all-new Renault Kiger SUV on coming 15th February 2021. Official bookings for the model will begin from the same da…

Petrol Price Close to Rs 88-mark in Delhi, Diesel Near Rs 85-level in Mumbai - News18

Petrol price in the national capital closed in on record Rs 88 per litre mark while diesel neared Rs 85 in Mumbai after rates across the country were hiked for the third day in a row on Thursday.

2021 Royal Enfield Himalayan launched in India - BikeWale

Royal Enfield has announced the launch of the 2021 Himalayan in the Indian market. The latest iteration of the adventure tourer has been launched with prices starting from Rs 2,36,286 onwards.

India’s BharatPe valued at $900 million in new $108 million fundraise - TechCrunch

India may soon have another fintech unicorn. BharatPe said on Thursday it has raised $108 million in a financing round that valued the New Delhi-based financial services startup at $900 million, up from $425 million last year. Coatue Management led the three-…

Hindalco share price hits new 52-week high after Q3 PAT jumps 76% YoY - Moneycontrol.com

The Aditya Birla group company reported a 76.2 percent YoY jump in December quarter standalone net profit to Rs 340 crore. Standalone revenue stood at Rs 11,351 crore, up 11 percent YoY.

News: India to see a 6.4% average salary increase in 2021: Willis Towers Watson — People Matters - People Matters

RailTel Corp IPO to open Tuesday, to raise nearly ₹820 crore - Mint

The price band for the issue has been fixed at ₹93-94 a share. On upper band price, the firm will raise as much as ₹819.24 crore

Gold price today: Yellow metal trades below Rs 48,000; Silver Futures down nearly 1% - Moneycontrol.com

Gold may witness choppy trade amid lack of fresh cues however there is a possibility of correction if US dollar manages to recover, suggest experts.

Mastercard to allow cardholders to transact in cryptocurrencies - Mint

Mastercard has partnered with some of the biggest cryptocurrency firms, including Wirex and BitPay

Oil Drops After Strong Rally, Demand Hopes Limit Losses - News18

SINGAPORE: Oil prices fell on Thursday, giving up some of the recent strong gains, although losses were curbed by production cuts and hopes that rollouts of vaccines will drive a recovery in demand.

The Covid-19 vaccine had to be used, Texas doctor used it and was fired - The Indian Express

The matter of Gokal is playing out as pandemic-weary Americans scour websites and cross state lines chasing rumors, all in anxious pursuit of a medicine in short supply. The case opens wide to interpretation, becoming a study in the learn-as-you-go bioethics …

Elon Musk Bought Dogecoin For His Son X Æ A-Xii. Value of the Meme Cryptocurrency Shot Up By 16% - News18

Dogecoin started as a meme, but the recent rise in the value of the cryptocurrency, has been anything but a joke.

Explained: The NSE co-location case investigation, and what SEBI’s new order means - The Indian Express

What is the National Stock Exchange (NSE) co-location case? What happened after the allegation of unfair access in algo trading at the NSE came to light? What action had SEBI taken earlier in the case? What does the latest SEBI adjudication order mean for NSE?

WHO panel recommends wide use of Oxford-AstraZeneca Covid vaccine - India Today

A World Health Organization panel has recommended wide use of Oxford-AstraZeneca Covid vaccine including in countries where the South African variant of the coronavirus may reduce its efficacy.

All You Need To Know Going Into Trade On February 11 - BloombergQuint

Stocks in the news, big brokerage calls of the day, complete trade setup and much more!

High fiscal deficit to pose challenge in lowering India's debt-GDP ratio: Fitch - Times of India

India Business News: Fitch Ratings on Wednesday said India's high fiscal deficit would pose a challenge in lowering the debt to GDP ratio, which is expected to rise above

Eicher Motors Q3 net profit flat at ₹488 crore - The Hindu

Royal Enfield sold 1.99 lakh motorcycles, marking an increase of 5% over the year-earlier period.

Aurobindo Pharma Q3 net profit zooms over 4-fold to Rs 2,946.32 crore - Moneycontrol.com

The company had posted a net profit of Rs 705.31 crore in the corresponding period of the previous fiscal, Aurobindo Pharma said in a filing to BSE.

RBI restricts withdrawals from Independence Co-operative Bank, Nashik - Mint

The bank will continue to undertake banking business with restrictions till its financial position improves.The RBI said that it may consider modifications of the directions depending upon circumstances

Tata Steel India business has delivered 20% margin even in worst time: TV Narendran - Economic Times

For Tata Steel, the India business has consistently been one of the most profitable steel businesses in the world. Today steel prices are higher than the long-term average

Japan to waste millions of doses of Pfizer vaccine because of syringe mixup - The Independent

A shortage in specialist syringes will see millions of doses discarded

SBI is offering home loans at 6.8% without processing fee till March: Check details - Times Now

On Wednesday, the lender said it commands a market share of 34 per cent in the home loan segment. On average, the bank onboards around 1000 home loan customers per day

Another IPO on the way— this pesticides maker from Lucknow is looking to raise ₹800 crore - Business Insider India

The public offer will comprise a fundraise via a fresh issuance of shares amounting to ₹100 crore and ₹700 crore through an offer-for-sale by the promoter.

90% of Muthoot Finance assets are in gold loans now: George Alexander - Economic Times

‘We have reached the milestone of having Rs 50,000 crore of AUM in gold loans.