Golf Link's Rs170cr bungalow bought in Delhi’s priciest post lockdown deal
Sat, Jan 9, 2021 2:20 PM

Golf Link's Rs170cr bungalow bought in Delhi’s priciest post lockdown deal

The owner of a leading electronics contract manufacturer recently bought a house in New Delhi’s Tony Lutyens bungalow zone for Rs 170cr in what is believed to be the priciest residential transaction in Delhi after the lockdown. Real estate experts say more such deals are in the offing over the next 6 months as the ultra-rich go shopping for spacious, green locations in the aftermath of pandemic.

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RBI introduces PIDF to facilitate digital payments in rural & remote areas
Sat, Jan 9, 2021 1:20 PM

RBI introduces PIDF to facilitate digital payments in rural & remote areas

Amid the rapid rise in payments' volumes through the Unified Payments Interface (UPI) network, the RBI is taking steps to further widen the use of digital payments in the country. This week, the central bank unveiled operational guidelines for the payments infrastructure development fund (PIDF) scheme to create digital payments acceptance infrastructure across Tier III to Tier VI regions in India.

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Flexi-cap funds: Will the flexibility given to fund managers yield results?
Sat, Jan 9, 2021 1:10 PM

Flexi-cap funds: Will the flexibility given to fund managers yield results?

On November 6 last year, the Securities and Exchange Board of India (Sebi) came out with a circular which announced a new category of equity funds: Flexi-cap. This announcement came at an opportune time. It served both investors and fund houses well. Investors heaved a sigh of relief, as a new category of equity scheme provided exposure to companies of varied sizes.

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Reliance Infrastructure sells stakes worth ₹900 cr in PKTCL to India Grid
Sat, Jan 9, 2021 1:01 PM

Reliance Infrastructure sells stakes worth ₹900 cr in PKTCL to India Grid

Reliance Infrastructure on Saturday said it has completed the sale of its entire 74 per cent stake in Parbati Koldam Transmission Company Limited (PKTCL), located in Himachal Pradesh and Punjab to India Grid Trust (IndiGrid) for ₹900 crore. The proceeds will be utilised for debt reduction, and the company's dues will come down by 6 per cent to ₹13,100 crore from ₹14,000 crore.

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DHFL FD holders plan to vote against resolution on distribution mechanism
Sat, Jan 9, 2021 11:20 AM

DHFL FD holders plan to vote against resolution on distribution mechanism

Several fixed deposit (FD) holders of Dewan Housing Finance Corporation (DHFL) are planning to vote against the resolution on the ‘distribution mechanism’ from the prospective recovery amount for the lender. The resolution on distribution mechanism is open for voting till January 15 and it proposes to categorise FD holders and NCD holders into four brackets based on their admitted claims.

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Gold prices slump ₹2000 per 10 gram in a day, silver rates crash ₹6,000
Sat, Jan 9, 2021 11:10 AM

Gold prices slump ₹2000 per 10 gram in a day, silver rates crash ₹6,000

Gold and silver prices suffered steep losses on Friday, tracking a sharp decline in global rates. On MCX, February gold futures slumped 4% or ₹2050 to ₹48,818 per 10 gram while silver futures tanked ₹6,100 or 8.8% to ₹63,850 per kg. In global markets spot gold dropped nearly 4% to $1,833.83 per ounce as a jump in US Treasury yields hammered bullion's safe-haven appeal.

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FII money fueling D-Street, but next 30 days crucial for market
Sat, Jan 9, 2021 11:00 AM

FII money fueling D-Street, but next 30 days crucial for market

Unabated overseas funds pushed Indian stocks to record closing highs on Friday, with the Nifty ending above the 14,300 mark. Analysts said a readjustment of regional indices by MSCI resulted in emerging market peers such as India & Taiwan attracting more flows. However, the next 30 days will be crucial as corporates declare third-quarter results, the government presents its FY22 budget on Feb 1.

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Small & midcaps outperform in historic week
Sat, Jan 9, 2021 10:50 AM

Small & midcaps outperform in historic week

It was a historic week for Indian markets where Nifty50 hit a fresh record high above 14,300 for the first time while the S&P BSE Sensex inched closer towards 49,000. The S&P BSE Sensex rose 1.9% while the Nifty50 closed with gains of 2.3% for the week ended January 8 compared to 5.3% seen in the S&P BSE Mid-cap index, and the S&P BSE Small-cap index rose 3.5% in the same period.

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TCS confident about getting back to double-digit growth in FY22
Sat, Jan 9, 2021 10:40 AM

TCS confident about getting back to double-digit growth in FY22

India’s largest IT services provider TCS is confident about getting back to the double-digit growth trajectory in FY22 as digital transformation gains momentum, said CEO Rajesh Gopinathan. This confidence comes after the company posted its strongest Q3 in the last nine years in the seasonally weak quarter ending December. The IT major posted $5.7 billion in revenues, up 2.1% on a YoY basis.

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Parler pitched itself as Twitter without rules, Apple and Google objects
Sat, Jan 9, 2021 10:30 AM

Parler pitched itself as Twitter without rules, Apple and Google objects

Parler is a hugely popular social network attracting millions of users with its hands-off approach to policing users' posts. However, Parler is now suddenly faced with an existential crisis. Google said it had pulled the app because Parler was not enforcing its own moderation policies, despite a recent reminder from Google. Even, Apple wants them to implement policing of the conversation.

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Serum Institute likely to supply 400 million more doses to Gavi-COVAX
Sat, Jan 9, 2021 10:20 AM

Serum Institute likely to supply 400 million more doses to Gavi-COVAX

Serum Institute of India (SII) might sign a deal with Gavi-COVAX to supply up to 400 million additional doses of COVID-19 vaccines. As per the existing agreement with COVAX, Pune-based SII has already agreed to produce 100 million doses each of two jabs, developed by Oxford University-AstraZeneca and Novavax. The cost of these injections will be approximately $3 per dose.

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Deutsche Bank to pay $100 million to avoid bribery charge
Sat, Jan 9, 2021 10:01 AM

Deutsche Bank to pay $100 million to avoid bribery charge

Deutsche Bank agreed to pay a fine of more than $100 million to avoid criminal prosecution on charges it participated in a foreign bribery scheme. Lawyers for the bank waived its right to face an indictment on conspiracy charges. According to court papers, Deutsche Bank bribed intermediaries to make deals in Saudi Arabia, labelling the payments as “referral fees.”

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PNB Scam - Nirav Modi Judgement Day on Feb 25
Sat, Jan 9, 2021 8:30 AM

PNB Scam - Nirav Modi Judgement Day on Feb 25

The judgment day for whether wanted diamond merchant Nirav Modi can be extradited to India to face charges of fraud and money laundering in relation to the Punjab National Bank scam case has been set as February 25. District Judge Samuel Goozee confirmed the timeline on Friday, at the end of closing submissions in the case at Westminster Magistrates' Court in London.

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Weekend Read- Financial Derivatives | FlipItClassroom
Sat, Jan 9, 2021 2:26 AM

Weekend Read- Financial Derivatives | FlipItClassroom

The derivative is a powerful financial instrument, the value of which remains dependent upon another underlying asset. It helps in hedging risk, stabilise the market, and acts as a speculating tool. Different types of financial derivatives include futures, forwards, swaps, and options. You can either trade them through exchanges or over-the-counter.

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DDA Housing Scheme 2021 update: Authority receives 5,400 applications
Fri, Jan 8, 2021 10:30 PM

DDA Housing Scheme 2021 update: Authority receives 5,400 applications

Almost a week since the launch of Delhi Development Authority (DDA)’s 2021 housing scheme offering 1,350 flats for sale in the national capital, the authority has received as many as 5,400 applications and over 1,000 have paid up the booking amount. Out of the more than 1,000 people who have paid up the booking amount, around 635 are for HIG and MIG units, available in the range of 1cr and 2cr.

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