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Business / The Economic Times

Tiger Global-backed Bright Health falls in debut, valued at $10.6b

The company's stock opened at $17, compared with the initial public offering price of $18 per share. Bright Health had priced 51.3 million shares below its targeted price range of $20 to $23, raising $924.3 million.

25 Jun 2021 12:10 am
Civic elections after assembly bypolls: Mamata Banerjee

I am ready to conduct municipal polls once the bypolls are completed. There are by-polls due in seven seats, Mamata Banerjee said at state secretariat Nabanna.

25 Jun 2021 12:09 am
Berkshire Hathaway appears to buy back more stock

Berkshire owns several dozen businesses including the BNSF railroad and Geico car insurance, and stocks such as Apple Inc and Bank of America Corp.

25 Jun 2021 12:03 am
Robinhood CEO calls for changes to exchange pricing rules

In 2005, when the sub-penny rule was enacted, there were concerns sophisticated electronic traders might jump ahead of retail orders using the smaller pricing increments.

24 Jun 2021 11:52 pm
Delta reinfected several hit in first Covid wave: Study

The Delta Covid-19 variant has increased ability to break through natural immunity barriers after infection as well as after vaccination and that too with high viral load, the latest INSACOG-Cambridge University study on its spread in Mumbai and Delhi showed.In the study, mathematical modelling indicated that the variant reinfected many who had been infected in the first wave in India.Given Delta's immune system evasion ability, the study cautioned that strong infection control measures and boos

24 Jun 2021 11:48 pm
Union Bank of India raises Rs 850 cr through bonds

UBI's shares on Thursday closed 2.29 per cent lower at Rs 38.35 apiece on the BSE.

24 Jun 2021 11:47 pm
Dabur to replace paper cartons used for packing ayurvedic toothpaste

Dabur India is rolling out an outer paper carton-free low unit price pack, specially created for rural markets.

24 Jun 2021 11:36 pm
Proposal to hive off central hydro projects into special purpose vehicle companies

A senior government official said as per the proposed national assets monetisation pipeline, Niti Aayog has proposed segregating constructed projects and transferring them to an SPV, under the CPSU that owns the projects.

24 Jun 2021 11:35 pm
Bank of Maharashtra gets shareholders' nod to raise Rs 5,000 cr

The resolution of raising equity capital by follow-on public offer (FPO), QIP or preferential issue, among others, aggregating to Rs 5,000 crore was passed by shareholders of the bank with the requisite majority, Bank of Maharashtra said.

24 Jun 2021 11:34 pm
Scientist finds early Covid sequences

About a year ago, genetic sequences from more than 200 virus samples from early cases of COVID-19 in Wuhan, China, disappeared from an online scientific database.Now, by rooting through files stored on Google Cloud, a researcher in Seattle reports that he has recovered 13 of those original sequences intriguing new information for discerning when and how the virus may have spilled over from a bat or another animal into humans.The new analysis, released Tuesday, bolsters earlier suggestions that

24 Jun 2021 11:33 pm
LIC Housing Finance to raise over Rs 2,334 cr from LIC as equity capital

LIC Housing Finance (LIC HFL) will issue shares at Rs 514.25 apiece to its promoter Life Insurance Corporation of India (LIC) on a preferential basis.

24 Jun 2021 11:29 pm
Gadkari inaugurates, lays stones of road projects worth over Rs 6,000 crore in Himachal

Gadkari said roads are prerequisite for the overall development of any nation. Better roads in Himachal Pradesh will go a long way in tourism promotion, he added.

24 Jun 2021 11:08 pm
DGFT notifies pact regarding import of 50,000 tonnes of toor dal from Malawi

Import of 50,000 tonnes of toor from Malawi during 2021-22 to 2025-26 as per the MoU entered between Government of India and the Government of Malawi is notified, the DGFT said.

24 Jun 2021 11:04 pm
BJP playing role of 'sadhak', opposition acting as 'badhak' to tackle COVID-19: Nadda

Our job is to go about doing our work. Their job is to meet on Twitter, over Facebook, in virtual press conferences... they are disconnected with people, but we will remain connected with people, Nadda said.

24 Jun 2021 10:57 pm
RBI launches FY21 round of survey on ITES exports

The survey results are released in the public domain, besides being used for compilation of balance of payments (BoP) statistics and other uses, it said in a release. In another release, the RBI said it has also launched the 2020-21 round of the annual survey on 'Foreign Liabilities and Assets of Mutual Funds and Asset Management Companies'.

24 Jun 2021 9:57 pm
Sputnik V is safest among all vaccines: Study

A study by the Buenos Aires Ministry of Health to monitor the safety of the Sputnik V vaccine against COVID-19 confirmed on Thursday that it is the safest among the vaccines.SputnikV shows the safest profile among #COVID vaccines used in the Buenos Aires province in Argentina, no deaths related to vaccination recorded - the province Health Ministry, tweeted Sputnik V.There were no deaths related to the Russian vaccine, and most post-vaccination events were mild, such as fever, headaches, and pai

24 Jun 2021 9:47 pm
Jio has big opportunity to tap with 'JioPhone Next'; final pricing to be key: Industry watchers

Reliance Jio has the opportunity to tap into a 300 million user base with its ultra-affordable 'JioPhone Next' smartphone but the final pricing and overall performance would be key in this segment, according to industry watchers. Reliance Jio teamed up with tech titan Google to develop its made-for-India 'JioPhone Next' that is slated to be available from September 10. While the pricing is yet to be announced, Reliance Industries Chairman Mukesh Ambani said JioPhone Next will be the most-afforda

24 Jun 2021 9:46 pm
Trade Setup: Nifty50 faces stiff resistance at 15,850-15,900 levels

The second half of the session saw the Nifty50 index get a bit stronger as it inched higher to mark an intraday high of 15,821.40.

24 Jun 2021 9:39 pm
RIL's debt capital costs fall by 42 bps in a year

MUMBAI: Funding costs for Reliance Industries (RIL), Indias biggest company by all conventional financial yardsticks, dropped 42 basis points in the past one year, with the decline in average cost of debt capital at the oil-to-retailing major far outpacing the reduction in broader market rates.A basis point is 0.01%.The average differential or spread of three-year RIL bonds with the sovereign benchmark slipped to 53 basis points from 95 bps in April last year, reflecting investor appetite for RI

24 Jun 2021 9:30 pm
Govt to monitor Covid data for 6 weeks to decide on economic intervention: Sanjeev Sanyal

We are dealing with uncertainty. Third wave may happen but we don't know how it will unfold. We need to take some steps against the third wave as a policymaker, and we will carry monetary and fiscal interventions if required.

24 Jun 2021 9:16 pm
Delimitation exercise in Jammu and Kashmir has to happen quickly so that polls take place, says PM Narendra Modi

Our priority is to strengthen grassroots democracy in J&K. Delimitation has to happen at a quick pace so that polls can happen and J&K gets an elected Government that gives strength to J&K's development trajectory, he said.

24 Jun 2021 8:57 pm
Day trading guide: 2 stock recommendations for Friday

The Nifty50 index has now entered a sideways consolidation phase after hitting a new all-time high.

24 Jun 2021 8:36 pm
IMF says Pakistan talks ongoing

The International Monetary Fund is holding open, constructive discussions with Pakistan as part of a sixth review of the country's 39-month, $6 billion financing program that began in 2019, IMF spokesman Gerry Rice said on Thursday. Rice declined to say if disbursements under that program had been halted, but said further discussions were needed about Pakistan's sustainable fiscal spending plans, structural reforms, particularly in the tax and energy sectors, and social spending.

24 Jun 2021 8:31 pm
Rallis India looks to boost manufacturing capacity, launch new products

Rallis India, a subsidiary of Tata Chemicals, is planning to enhance manufacturing capacities as well as build a new integrated research development centre, and is in the process of launching new products, its chairman Bhaskar Bhat said on Thursday. The world continues to face the greatest threat to life and livelihood due to the COVID-19 pandemic that has impacted the global economy and all of its citizens...I am proud to say that your company has shown great resilience in this challenging time

24 Jun 2021 8:29 pm
73% SMBs have not made any profit last year owing to Covid: CIA survey

Over the past year, CIA has provided vital suggestions and modifications required on several initiatives taken by the Central and State Governments for the benefit of MSMEs. As a result, we realised that a data-backed survey would help consolidate the feedback from this sector, to bring out the pain points and provide solutions and a way forward to revive the sector, said K.E. Raghunathan, convenor of CIA and former national president of All India Manufacturers' Organization.

24 Jun 2021 8:28 pm
Nafed to open 200 grocery stores named Nafed Bazar under franchise mode by March 2022

The store was inaugurated by NAFED chairman Dr Bijender Singh along with Dr Chander Pal Singh, chairman, Krishak Bharti Limited (KRIBHCO). Mrinalini Shrivastava, Commissioner Investment, Sikkim Government was also present on the occasion.

24 Jun 2021 8:24 pm
US, Japan, 4 other economies may see financial crises in next 3 years: Nomura

Nomura said its proprietary indicator is warning that six economies appear vulnerable to financial crises over the next 12 quarters.

24 Jun 2021 8:18 pm
NSE-BSE bulk deals: Dolly Khanna buys stake in Deepak Spinners

Shares of the textile company, however, ended 10.5 per cent lower at Rs 168.25.

24 Jun 2021 8:11 pm
RIL 44th AGM: Here's the full text of Mukesh Ambani's speech

The age of fossil fuels, which powered economic growth globally for nearly three centuries, cannot continue much longer. The huge quantities of carbon it has emitted into the environment have endangered life on Earth, Ambani said at his group's 44th AGM.

24 Jun 2021 7:43 pm
India's bank credit-to-GDP ratio inches up to 56% in 2020, but still way behind peers: BIS data

Notwithstanding incremental credit growth plunging to a 59-year low at 5.56 per cent in FY21, the bank credit-to-GDP ratio rose to a five-year high of a little over 56 per cent in 2020, but way behind its peers and just half of the G20 average, according to the latest data from the Bank for International Settlements (BIS). At 56.075 per cent credit-to-GDP ratio, total outstanding bank credit stood at USD 1.52 trillion in the country in 2020, according to the BIS data for the year, but this is st

24 Jun 2021 7:40 pm
Elections will be held after delimitation, Modi assures Gupkar alliance

The meeting is the first between the Centre and mainstream Jammu and Kashmir politicians after the abrogation of Article 370 and the division of the erstwhile state into two union territories in August 2019.

24 Jun 2021 7:25 pm
Jaypee Infratech resolution: Homebuyers want Suraksha to provide Rs 300 cr interim fund for construction of stalled projects

Suraksha group, which has won the bid to acquire debt-laden Jaypee Infratech Ltd (JIL), should infuse Rs 300 crore interim funds to start construction of stalled projects as promised in its resolution plan, according to stuck homebuyers. On Wednesday, financial creditors of JIL chose Mumbai-based Suraksha group over state-owned NBCC for taking over the insolvent firm, giving hopes that thousands of homebuyers may finally get possession of their flats after many years of delay. The 10-day-long vo

24 Jun 2021 7:08 pm
Market Movers: Why RIL shares ended in the red despite green energy plans?

Shares of the index major had rallied substantially in the run-up to Thursdays AGM in anticipation of major announcements such as the ones made by Ambani.

24 Jun 2021 6:31 pm
Karnataka High Court grants interim relief to Twitter MD in UP case

The UP Police had filed an FIR last week against Twitter India, several journalists, and Congress leaders after Abdul Samad alleged he was thrashed by some youth and forced to chant Jai Sri Ram and Vande Mataram.

24 Jun 2021 6:27 pm
RBI issues guidelines for NBFCs on dividend distribution

The guidelines shall be effective for declaration of dividend from the profits of the financial year ending March 31, 2022 and onwards. These will be applicable to NFBCs regulated by the RBI.

24 Jun 2021 6:27 pm
Jio-Google 4G smartphone won't impact: Airtel

Bharti Airtel said the upcoming low-cost 4G smartphone from the Reliance Jio-Google combine wont hurt its revenues as 2G device users, typically, upgrade to smartphones priced above Rs 7,000 and prefer the Sunil Mittal-led telcos mobile network.Indias No 2 telco, in fact, expects the advent of the Jio-Google budget smartphone to trigger customer upgrades from feature phones to smartphones, which would end up complementing Airtels strategy of focusing on quality customers with world-class service

24 Jun 2021 6:25 pm
160% jump in a year! Emami flies high after share pledges drop

The counter has been in high spirits on the back of multiple tailwinds such as price hikes, robust earnings, reduction of pledged shares and healthy cash on balance sheet.

24 Jun 2021 6:23 pm
CEA expects food inflation to ease with unlock, good monsoon

Moreover, the Chief Economic Adviser (CEA) asserted that high food inflation has not impacted a large section of population as they are being given free ration under the Pradhan Mantri Garib Kalyan Yojana.

24 Jun 2021 6:06 pm
PM distracting present with theatrics, toying with country's future: Rahul Gandhi

Today, MSME sector employers are themselves facing unemployment. PM is distracting India's present with theatrics and 'toying' with the future, Gandhi wrote on Twitter.

24 Jun 2021 5:53 pm
Tech View: Nifty forms Inside Bar as consolidation phase continues

During the day, the NSE barometer found support at its 20-day moving averages, whose value now stands at the 15,700 level.

24 Jun 2021 5:48 pm
Ambani's new plans may earn RIL a re-rating

After Reliance Industries chairman Mukesh Ambani announced Rs 75,000 crore investment in the new green energy business at the company's AGM today, Naveen Kulkarni, Chief Investment Officer, Axis Securities, said there is a further re-rating potential for RIL stock. Edited excerpts: What are your thoughts on Reliance's new green energy plans as was announced in the AGM today?Look at what Reliance has been doing and how things have panned out in the past for them. Reliance typically gets into very

24 Jun 2021 5:28 pm
Takeaways: RIL woos $2 trillion ESG crowd with ambitious green energy plan

The countrys richest man said the growing wealth and energy gap in the country is unacceptable and that is the only answer is for India to grow in a sustainable and equitable manner.

24 Jun 2021 5:17 pm
UP CM seeks cooperation of village heads to achieve PM's goal of corona-free villages

In a letter signed by the chief minister and sent on June 20, an appeal has been made to the village heads to help expedite the Covid vaccination campaign and check the infection effectively through the monitoring committees.

24 Jun 2021 5:11 pm
Russia says it may fire to hit intruding warships

The incident marked the first time since the Cold War that Moscow acknowledged using live ammunition to deter a NATO warship, underlining the rising threat of military collisions amid Russia-West tensions.

24 Jun 2021 5:08 pm
GMR Infra pledges 2.4 crore shares in favour of KLJ Plasticizers

2,40,00,000 equity shares of GMR Infrastructure Ltd have been pledged by the company in favour of KLJ Plasticizers Ltd on June 21, 2021, GMR Infrastructure said in a regulatory filing.

24 Jun 2021 5:06 pm
Maharashtra BJP seeks CBI probe against Dy CM Ajit Pawar in cases related to Param Bir Singh, Sachin Waze

The state BJP has passed a resolution to demand a CBI inquiry against DyCM Ajit Pawar and Shiv Sena leader and Transport Minister Anil Parab into their alleged involvement in cases related to Param Bir Singh and Waze, Maharashtra BJP president Chandrakant Patil said.

24 Jun 2021 4:53 pm
Philippines grounds Black Hawk fleet after deadly crash

The country ordered 16 of the multi-role aircraft from a Polish firm that made them under licence from the Sikorsky division of US defence manufacturer Lockheed Martin.

24 Jun 2021 4:44 pm
Most people keen to travel this year post unlock: Survey

A majority of people have shown keen interest to travel this year after easing of lockdown restrictions, with 69 per cent respondents keen to resume travel in 2021 and 31 per cent in 2022, according to a joint survey by travel service providers Thomas Cook India and SOTC. The survey was conducted this month by the two companies and covered 4,000 customers across India's tier-I to III towns, including top-8 metro cities. It also included mini-metros like Pune and key tier-II and III markets of Ja

24 Jun 2021 4:36 pm
States' revenues to cross pre-Covid level this fiscal

High tax buoyancy, led primarily by fuel taxes, and increase in grants from the Centre under the Finance Commission package will help revenue growth of states cross the pre-pandemic level in the current fiscal, provided there is no third COVID wave, according to a report. Given the higher prices of fuels, revenue from this segment is set to grow 50 per cent to 30 per cent in the current financial year from 20 per cent it clipped last fiscal, even though the overall volume will fall, Crisil said

24 Jun 2021 4:31 pm