Monday, March 1, 2021

Shehzeen Khan

Patanjali’s Rs 250 crore debentures fully subscribed within 3 mins

On Thursday, Patanjali Ayurveda’s Rs 250 crore debt instrument was fully promised within 3 minutes of opening. The sell-out was ground-breaking, and showed the excitement and faith of investors. The Baba Ramdev-led firm plans on using these funds for working...

COVID-19 impact : India may witness worst economic recession since Independence

Economic activity in India is taking major hits, thanks to the ongoing COVID-19 pandemic. Businesses and industries have remained shut for over 2 months amidst the nationwide lockdown. Though restrictions like those on domestic travel have been eased, the...

SBI extends loan, credit card moratorium by additional 3 months

The State Bank of India (SBI) has announced that it will extend the postponement of payments by another 3 months. This is applicable to all eligible borrowers without waiting for their request. Since the RBI allowed banks to extend payment...

Ola Electric acquires Etergo to launch own line of electric vehicles by 2021

Last year, Ola launched Ola Electric, and electrical vehicle (EV) business. This year, Ola Electric has acquired an Amsterdam-based electric scooter startup- Etergo. This acquisition comes as the Indian ride-hailing giant wishes to locally produce and launch its line...

Bharti sells 2.75% stake to raise Rs 8433 crores for Bharti Airtel

Bharti, Bharti Airtel’s promoter company, sold a 2.75% stake in Bharti Airtel. Investors bought the stock on Tuesday. The sale was through an accelerated book-building process in the secondary market. More than 50 investors were distributed the stock, with the...

Close to 40% travel firms may shut shop in 3 months

More than 80% travel and tourism companies have lost 100% revenue, whereas 15% have seen a dip of 75%. Close to 40% of these companies are on the brink of complete shutdown in the next 3-6 months. A survey with...

Covid-19 impact : ITA estimates Rs. 2100 crore loss in tea business in Assam and West Bengal

The Indian Tea Association (ITA) has estimated revenue losses of Rs 2,100 crore for the tea industry. Recorded in Assam and West Bengal, these losses are for March, April and May. For these two states, the total loss of production...

Optimistic for revival, IBM lays off employees in USA

In conversation with the Wall Street Journal, IBM revealed laying off of an undisclosed number of employees across the US. The struggling tech giant’s CEO Arvind Krishna had warned investors of uncertainty due to COVID-19. He further revealed that the...

Home Loan interest rates to dip by 15%; EMIs fall

The RBI’s announcement bears good news for home loan borrowers with secure incomes. The announcement stated interest rates in the category will drop by 40 basis points to 7%. The drop to 7% makes this the lowest it has...

JioMart service officially rolled out in Metro cities

After its recent strategic partnership with Facebook, Reliance JIO announced JioMart. Using JioMart consumers would get access to the nearest kirana or departmental stores and be able to order online, and then eventually via WhatsApp. This service is live...

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