Business news 17 Feb, 2021
Bitcoin surges past $51,000 for the first time ever amid crypto fever - MintLivemint
The largest cryptocurrency rose almost 6% Wednesday to about $51,431 after a fivefold surge in the past year, according to Bloomberg
MARKET LIVE: Sensex tanks 400 pts; IT, pharma, bank stocks under pressure - Business StandardBusiness Standard
Stock market live updates: Majority of the Nifty sectoral indices, barring two, were trading in the red, with Nifty Financial Services index dipping 0.6 per cent
Gibraltar Tech acquires HCL Infotech for Rs 148 crores - MoneycontrolMoneycontrol
The Dubai based company will absorb HCL Infotech's assets along with its more than 800 employees and customer contracts.
Tata Altroz enters India Book of Records: Here’s why - CarToq.comCarToq.com
Tata Altroz entered the Indian Book of Records today. The Altroz covered a distance of 1,603 km in 24 hours, which has become a new record and has earned the premium hatchback a place in the record book. Mr Devjeet Saha, who is a Tata Altroz owner did the rec…
Subramanian Swamy joins left-liberal media and Pakistan to peddle misinformation on SII vaccine delivered to South Africa - OpIndiaOpIndia
Speaking to the media, South Africa's Health Minister Dr Zweli Mkhize said, "I would like to clarify a few media reports that said we had returned the vaccines to India. We have not returned the AstraZeneca vaccines to India". | OpIndia News
Nureca IPO subscribed 32 times, QIB portion fully booked on final day - Moneycontrol.comMoneycontrol
The company works on an asset light business model which doesn't require to invest heavily on physical assets such as plant and machinery, land and property, Hem Securities said.
Billionaire Hindujas Pay 61% Premium to Boost IndusInd Stake - BloombergQuintBloombergQuint
IndusInd Bank founders completed rights issue to fund conversion of warrants.
Explained: Why are millions in Texas without power during a winter storm? - The HinduThe Hindu
The answer lies in the differences between Texas’s independent power grid and the rest of the United States.
Nomura sees Happiest Minds as ‘consistent compounder’, initiates 'buy' - MintLivemint
Happiest Minds shares were trading around 4% higher at ₹422 in noon trade today.
What is Synthetic Meat That Bill Gates Wants You to Eat to Fight Climate Change? - News18News18
Billionaire and philanthropist Bill Gates has a solution to the impeding climate change disaster: Switch to synthetic meat.
Elon Musk's Reign Was Brief. Jeff Bezos Is World's Richest Again - NDTVNDTV News
Elon Musk's reign as the world's richest person was brief.
Skoda Kushaq To Make It’s World Debut In India In March - carandbikeCarandbike.com
The Kushaq will slot below the Karoq and will be based on the all-new MQB-A0 IN platform, which has been specifically built to cater to the Indian requirements.
Gold, Crude Oil Forecast: Rising Yields and Stronger USD Exert Pressure - DailyFXDailyFX
Gold prices extended lower as the US Dollar gained alongside Treasury yields. Crude oil prices retreated from a 12-month high despite output disruptions in Texas as a cold blast swept the region.
Hyundai Completes 25 Years In India; 90 Lakh Cars Manufactured - GaadiWaadi.comGaadiWaadi.com
Hyundai is the largest exporter of passenger cars from India and achieved its highest ever market share of 17.4 per cent in CY2020
PF account: EPFO's new guidelines on name correction, profile change in 10 points - MintLivemint
EPFO has said 'major corrections' in member profiles will not be permitted online as it could lead to a mismatch of records and may result in fraudulent withdrawals
As petrol nears Rs 100/litre, EVs running at one-tenth cost - Times of IndiaThe Times of India
News News: Even as filling-up a full tank of petrol is fast becoming a pipe dream for many, the alternative as well as futuristic electric powered vehicles seem
Rupee Slumps 23 Paise to 72.92 Against US Dollar in Early Trade - News18News18
The rupee depreciated 23 paise to 72.
Tatas set to acquire 68% stake in BigBasket for ₹9,500 crore - The HinduThe Hindu
The Tata group will acquire 68% stake in online grocery platform BigBasket for about ₹9,500 crore, sources said. The group has signed an agreement, the sources added. The agreement puts BigBasket’s e
Gold prices fall to 8-month low, plunge 20% from record high; where will yellow metal prices go from here? - The Financial ExpressGoogle News
GMM Pfaudler shares jump 5% on acquiring majority stake in global business of Pfaudler Group - Moneycontrol.comMoneycontrol
Moneycontrol technical rating is bullish with moving averages and technical indicators showing bullish bias in the stock.
RBI Keeps 10-Year Bond Yield In Check But Borrowing Costs In Other Segments Rise - BloombergQuintBloombergQuint
While the 10-year G-Sec yield is now trading at near 6.02%, beyond that interest rates are rising across many segments.
Thieves In Hyundai Creta Steal Jeep Compass Parked On Roadside - CCTV Footage - RushLaneRushlane.com
Thieves arrive in a Hyundai Creta, to steal Jeep Compass SUV, which was parked outside a house in Delhi. Owner shares CCTV footage.
India’s Biggest Builder Makes Another Attempt at Selling Shares - BloombergQuintBloombergQuint
Macrotech Developers, formerly Lodha Developers, plans to raise Rs 2,500 crore in an IPO to help reduce its massive debt burden.
I'd wait for 30-40% dip before buying HDFC Bank, ICICI Bank or Kotak: Rajat Sharma - Economic TimesThe Times of India
There are a lot of unknowns in the market and most of that is coming from financials, whether it is NBFCs or banks.
Nestle India, Infosys, Adani Ports: Top Stocks for Investors on February 17 - News18News18
The stock market on Tuesday, February 16, remained volatile throughout the day and ended in the red.
Rajesh Exports shares gains on export order worth Rs 1,352 crore - Moneycontrol.comMoneycontrol
This was its first major order after the pandemic
What should investors do with Nestle India post December earnings: Buy, sell or hold? - Moneycontrol.comMoneycontrol
Credit Suisse has downgraded the stock to neutral with a target of Rs 17,800 per share.
Gold prices today fall close to lowest levels in 8 months, after 5-day drop - MintLivemint
Gold prices in India are now down about ₹9,500 from record highs.Fall in global rates and import duty cut in Budget has pushed gold prices lower in Indian markets
Page Industries CEO Vedji Ticku resigns 'owing to personal commitments' - MintLivemint
Vedji Ticku's resignation is effective from the close of business hours on May 31, Page Industries said in a regulatory filing to the exchanges
The digital bargain - The Indian ExpressThe Indian Express
Google’s battle against proposed Australia law could lead to a new template for the business of news in the digital age.
Top buy and sell ideas by Sudarshan Sukhani, Mitessh Thakkar for short term - Moneycontrol.comMoneycontrol
Mitessh Thakkar of mitesshthakkar.com suggests buying Bandhan Bank with a stop loss of Rs 344, target at Rs 370 and Biocon with a stop loss of Rs 412, target at Rs 435.
Renault Kiger 5-Speed AMT Non-Turbo (NA) Test Drive Review - GaadiWaadi.comGaadiWaadi.com
Renault Kiger AMT trims are powered by the 1.0-litre naturally-aspirated petrol engine producing 72 PS maximum power and 96 Nm of peak torque
BMW X3 Gets A More Affordable Base Variant – Price & Features - India Car NewsIndiacarnews.com
BMW India has further expanded the X3 SUV model lineup with the addition of a new base variant. Called the BMW X3 xDrive30i SportX, the new model has been priced at Rs 56.50 lakh (ex-showroom). This makes it around Rs 5 lakh more affordable than the previous …
Trade Spotlight: What should investors do with Adani Gas, Bank of India and Adani Transmission? - Moneycontrol.comMoneycontrol
Stocks like Adani Total Gas rose more than 18 percent, Bank of India was locked in the upper circuit of 20 percent, and Adani Transmission closed with gains of over 12 percent were some of the stocks in focus.
New Honda CB350RS vs Honda CB350 - Top Differences Explained - RushLaneRushlane.com
Honda has launched the new CB350RS in India. Here is a brief comparison, explaining all the top differences with the existing CB350.
2021 Bajaj Pulsar 180 At Dealer Showroom - First Look Walkaround - RushLaneRushlane.com
Bajaj has brought the Pulsar 180 back. It will be on sale along with the 180F. Here is a detailed walkaround first look review.
Zolve raises $15 million for its cross-border neobank aimed at global citizens - TechCrunchTechCrunch
Tens of thousands of students and professionals move out of India each year to pursue higher education and for work. Even after spending months in a new country, they struggle to get a credit card from local banks, and end up paying a premium to access a rang…
FM Sitharaman, RBI discuss ways to exit from stimulus - MintLivemint
The meet touched matters of inflation targeting, credit expansion.FM Sitharaman addressed the RBI board of directors on the thinking behind her budget for 2021-22
Amazon to make devices in Chennai, cut China sourcing - Times of IndiaThe Times of India
India Business News: Amazon India said it will start local manufacturing of its devices here, reducing its dependence on China. This would give a leg up to the government’
Sennheiser wants to sell its consumer audio business; folks want Google to buy it - gizmochinagizmochina
Sennheiser is a popular audio brand that makes products for both consumers (headphones of all types) and businesses (Hi-Fi systems, studio microphones, conferencing systems, and amplifiers). Now, the German company says it wants to sell its consumer business.…
Ansal Propertie Consolidated December 2020 Net Sales at Rs 192.36 crore, down 31.26% Y-o-Y - Moneycontrol.comMoneycontrol
Is India's COVID vaccine giveaway risky diplomacy? - DW (English)DW (English)
India's government has been supplying countries around the world with free coronavirus vaccine doses. However, there is some worry that this "vaccine diplomacy" will come at a cost to vulnerable Indians.
To Make India Pay $1.2 Billion Award, Cairn Files Case In US - NDTV ProfitNDTV News
Cairn asked the US court to recognise and confirm the award, including payments due since 2014 and interest compounded semi-annually, according to a February 12 filing
ICICI Bank to buy over 9% stake in fintech startup Thillais Analytical Solutions - MoneycontrolMoneycontrol
Thillais Analytical Solutions operates a neo-banking platform Vanghee, which facilitates connected banking solutions for corporates and MSMEs, and helps banks deepen their customer relationships.
Adidas AG plans to divest Reebok brand - MoneycontrolMoneycontrol
Adidas said in a statement it had decided to begin a formal process aimed at divesting Reebok as part of a five-year strategy it plans to present on March 10.
L&T Finance Holdings ₹2998.61-crore rights issue oversubscribed by 15% - MintLivemint
The leading non-banking financial company opened its ₹2998.61-crore rights issue on 1 February and closed on 15 February .It fixed the price of ₹65 per fully paid-up share including a premium of ₹55 per share of face value ₹10
WHO approves Covishield for emergency use | Vaccines to reach not-so-wealthy nations | AstraZeneca - WIONGoogle News
Unacademy acquires majority stake in TapChief - EntrackrEntrackr
Unacademy has announced the acquisition of TapChief, a networking platform for professionals in a deal which will allow the edtech unicorn to make its foray into a new segment of readying students for jobs. TapChief is set to join Unacademy with a valuation o…
Thermo Fisher Scientific launches RT-PCR test kits designed and made in India - MoneycontrolMoneycontrol
Amit Chopra, Managing Director, India and South Asia for Thermo Fisher Scientific said the new facility in Bengaluru is equipped with the capacity to manufacture up to 10 million tests every month.
Oil prices near 13-month highs, supported by Texas cold snap By Reuters - Investing.comInvesting.com
Oil prices near 13-month highs, supported by Texas cold snap
FMCG Sector Grows For Second Straight Quarter, Says Nielsen - BloombergQuintBloombergQuint
The FMCG sector’s value rose 7.3% in October-December, growing for the second straight quarter, says Nielsen.
2021 BMW X3 xDrive30i SportX Launched In India At Rs. 56.50 Lakh - GaadiWaadi.comGaadiWaadi.com
2021 BMW X3 xDrive30i SportX is powered by a 2.0-litre four-cylinder petrol engine producing 252 horsepower and a maximum torque of 350 Nm
Credit Suisse just went ‘overweight’ on India — says the pandemic is “no longer a factor” - Business Insider IndiaBusiness Insider India
The global investment bank is essentially advising investors to put more money in India compared to other markets. The money will move from the funds withdrawn
Kabira Mobility launches KM 3000, KM 4000 electric bikes in India - HT AutoHindustan Times
Bookings for the Kabira KM 3000 and KM 4000 e-bikes will be opened by the company on February 20 and these will initially be made available in nine cities.
Government to bring amendments to two Acts to enable privatisation of PSU banks - BusinessLineBusinessLine
Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation
Ascendas signs pact to acquire IT SEZ in Hyderabad for Rs 506 crore - Telangana TodayTelangana Today
The proposed acquisition will be the fifth building acquired by a-iTrust from the Phoenix Group
Carl Pei’s new hardware venture Nothing now owns Essential - XDA DevelopersXDA Developers
Recent filings at the UK Intellectual Property Office reveal that Carl Pei's Nothing now owns Andy Rubin's Essential.
BYJU’S Acquisition Of Toppr Could Turn Edtech Into Three-Horse Race - Inc42 MediaInc42 Media
Bengaluru-based edtech giant BYJU’S is continuing to go big on acquisitions, with plans to acquire Mumbai-based Toppr for more than
The $112 million IPO of Indian Railways owned RailTel is now open for subscription — Here’s why analysts think - Business Insider IndiaBusiness Insider India
The IPO of state-run RailTel Corp will remain open till February 18.The shares were trading at a premium of ₹35-40 in the grey market, ahead of the IPO.Nearly
Tata Communications partners Google Cloud to drive Cloud transformation in India - ETTelecom.comThe Times of India
As a Google Cloud India partner, Tata Communications said it will offer services across infrastructure modernisation, data centre transformation, multi-cloud deployments amongst others, to organizations.
New Honda CB350RS launched in India at Rs 1.96 lakh - BikeWaleBikewale.com
Honda has updated its CB series in the Indian market with the launch of the new CB350RS. The new model, which has been priced at Rs 1.96 lakh (ex-showroom), joins the H’Ness CB350 in the company’s India portfolio. The new model, similar to the H’Ness CB350, w…
India's economy could recover and grow 10% in fiscal 2022, ratings agency S&P predicts - CNBCCNBC
Last year, India slipped into a technical recession due to the economic fallout from a lengthy lockdown to slow the spread of the coronavirus outbreak.
EPFO To Release Interest Rate In March For The FY 2020-21 - GoodreturnsGoodreturns.in
The interest rate of the employees provident fund for 2020-21 is expected to be revealed in the first week of March when retirement fund directors sit in Srinagar to review their revenues and financial status.
India to see $500-billion investment in renewables by 2030: IEEFA report - Moneycontrol.comMoneycontrol
A report by the Institute for Energy Economics and Financial Analysis (IEEFA) says that a huge global capital pool is mobilising to invest in renewable energy and grid projects in India
BQ Edge | Not A Bull Market Where You Wait For A Correction, Says Gautam Shah - BloombergQuintBloombergQuint
Gautam Shah’s take on the market and potential bets.
Top stocks in focus: Titan, Future Retail, Wipro, TCS, Tech Mahindra, Nestle India - IndiainfolineIndiainfoline
Check out the stocks that will be in focus during trade today based on recent and latest news developments.
Indian Railways Dedicated Freight Corridors: Leading Firms Bid To Build And Operate Cargo Terminals - SwarajyaSwarajya
Game On: Why Jio Vs Airtel Battle Is No Longer Looking Like A One-Sided Affair - SwarajyaSwarajya
Airtel is fighting back, and is most likely to hold his own. It’s game on.
Citroen C5 Aircross pre-launch bookings to commence from 1 March - CarWaleCarwale.com
Citroen C5 Aircross pre-launch bookings to commence from 1 March