Israel closing its borders for travelers from all countries over Omicron
Sun, Nov 28, 2021 2:10 PM

Israel closing its borders for travelers from all countries over Omicron

In a bid to take preventive measures against the potentially more contagious Omicron coronavirus variant, Israel has said that it would ban the entry of all foreigners into the country, making it the first country to shut its borders completely. Prime Minister Naftali Bennett said in a statement that the ban would last 14 days. Israelis entering the country will be required to quarantine, Bennett

Open Flip
Kamdhenu to list paints biz post demerger, expected by year end
Sun, Nov 28, 2021 1:58 PM

Kamdhenu to list paints biz post demerger, expected by year end

The Chairman and Managing Director (CMD) of Kamdhenu Group, Satish Kumar Agarwal has said, the company is planning to list its paints entity on bourses following the completion of the demerger process. The building material maker is in the process of separating its steel and paints business by this year-end with an aim to increase its reach and customer base in the market.

Open Flip
New COVID variant concerns to drive stock markets this week: Analyst
Sun, Nov 28, 2021 1:40 PM

New COVID variant concerns to drive stock markets this week: Analyst

A World Health Organisation panel has named the new COVID strain ’Omicron’ and classified it as a highly transmissible variant. This concern will drive the stock market's most updates related to the new coronavirus that sent equities tumbling globally on Friday, macroeconomic data announcements, and auto sales numbers. Many countries have introduced travel bans and restrictions on South Africa.

Open Flip
FMCG market to see further declines due to high base effect: Report
Sun, Nov 28, 2021 1:32 PM

FMCG market to see further declines due to high base effect: Report

Due to a higher base effect, the Fast Moving Consumer Goods (FMCG) market is likely to witness further tapering down and decline in volumes, especially in the in-home consumption category. However, some categories are managing to keep the higher penetration than the pre-pandemic level, data analytics and market insight firm Kantar said.

Open Flip
Star Health and Tega Industries set to float their IPOs next week
Sun, Nov 28, 2021 1:23 PM

Star Health and Tega Industries set to float their IPOs next week

Two IPOs are set to launch their initial share sale next week to cumulatively raise Rs 7,868 crore. Star Health and Allied Insurance Company have decided to launch its three-day initial share-sale on November 30 and end on December 2, while that of Tega Industries will be open for public subscription during December 1-3.

Open Flip
Silver ETFs to benefit investors in portfolio diversification: Experts
Sun, Nov 28, 2021 1:08 PM

Silver ETFs to benefit investors in portfolio diversification: Experts

The Securities and Exchange Board of India (Sebi) proposed operating norms for silver ETF, whereby at least 95% of investments in silver and silver-related instruments will be done. The norms will be effective from December 9, 2021. With silver exchange-traded funds (ETFs), investors will be able to invest in silver in a more liquid manner and can help in the diversification of the portfolio.

Open Flip
Macrotech Developers plans Rs3,000cr investment in Bengaluru market
Sun, Nov 28, 2021 12:30 PM

Macrotech Developers plans Rs3,000cr investment in Bengaluru market

Having projects in Mumbai and Pune regions, Macrotech Developers is now targetting Bengaluru market to tap huge property demand in the IT city. The property major, erstwhile Lodha Developers has planned to invest Rs 3,000 crore equity capital for growth as it aims to increase its annual sales bookings by almost three times to Rs 20,000 crore by 2025-26.

Open Flip
Govt panel asks more data from SII, says Covovax not yet been approved
Sun, Nov 28, 2021 12:23 PM

Govt panel asks more data from SII, says Covovax not yet been approved

The Serum Institute of India (SII) recieved an order from the expert panel of India’s Central Drug Authority for additional data on its recently reviewed application seeking emergency authorisation of COVID-19 vaccine Covovax. While noting the jab has not yet been approved in the country of origin. The SII has put in an application to DCGI in October for a grant of market authorization of Covovax.

Open Flip
438 infra projects hit by cost overrun of Rs 4.34 lakh crore
Sun, Nov 28, 2021 12:04 PM

438 infra projects hit by cost overrun of Rs 4.34 lakh crore

The cost overruns totalling more than Rs 4.34 lakh crore have impacted nearly 438 infrastructure projects, each worth Rs 150 cr or more. Of the 1,680 such projects, 438 reported cost overruns and 539 were delayed. The expenditure incurred on these projects till October 2021 is Rs 12,64,545.31 cr. The Ministry of Statistics and Programme Implementation monitors infrastructure projects over Rs150cr.

Open Flip
MSCI to drop Adani Ports from climate index along with REC, IPCA
Sun, Nov 28, 2021 11:35 AM

MSCI to drop Adani Ports from climate index along with REC, IPCA

Adani Enterprises' Carmichael project has been termed as 'severe' by the MSCI Climate Change Index. It has decided to drop Adani Ports and Special Economic Zone (APSEZ), along with REC and IPCA Laboratories from the index while adding 6 new companies to the list. In August 2020, Adani Ports became a wholly-owned subsidiary for haulage operations from the Carmichael mine to Adani's North Terminal.

Open Flip
ED summons Amazon to investigate Future Coupons investment
Sun, Nov 28, 2021 11:05 AM

ED summons Amazon to investigate Future Coupons investment

Amazon.com Inc.’s top management in the country along with officials from Future Coupons Pvt Ltd. summoned by the Enforcement Directorate (ED) to enquire whether Amazon was in breach of India’s foreign exchange laws when it invested 14.3 billion rupees ($191 million) to acquire 49% stake in FCPL in 2019.

Open Flip
Top Facebook execs likely to depose before parliamentary panel on Monday
Sun, Nov 28, 2021 10:40 AM

Top Facebook execs likely to depose before parliamentary panel on Monday

According to a notice issued by the Lok Sabha Secretariat, Facebook India's top executives are likely to depose before a parliamentary panel chaired the Shashi Tharoor on Monday. The Parliamentary Standing Committee on Information Technology is scheduled for Monday to hear the views of the representatives of Facebook India on the subject of securing citizens' rights.

Open Flip
NBFCs eyeing entry into banking have to follow tight regulations
Sun, Nov 28, 2021 10:09 AM

NBFCs eyeing entry into banking have to follow tight regulations

The 21 out of 33 recommendations on ownership guidelines and corporate structure of private sector banks has been accepted by Reserve Bank of India on Nov 26. For non-banking financial companies (NBFCs) eyeing to convert into a universal bank, minimum requirement on the track record of the experience of promoting entity, may continue for 10 years for universal banks.

Open Flip
Blockchain firm Kingspin Technology Services begins ops in India
Sun, Nov 28, 2021 10:04 AM

Blockchain firm Kingspin Technology Services begins ops in India

Kingspin Technology Services on Saturday launched its services in India. The Keralite-driven UAE based blockchain start-up aims to expand in Kerala with Kochi as an Offshore delivery center to spread its Blockchain Development Team. Kingspin also targets on other Digital Transformation Technologies such as Data Science and IoT.

Open Flip
Gold price surged on new Covid variant worries
Sun, Nov 28, 2021 9:39 AM

Gold price surged on new Covid variant worries

Gold price future on MCX (Multi Commodity Exchange) on Friday jumped ₹219 per 10 gm. The December expiry contract on Friday settled at ₹47,640 per 10 gm, registering a nearly 0.50% increase from its last close. According to commodity market experts, this rise in yellow metal price is due to the new Covid variant concern that led to heavy selloff in the global equity markets.

Open Flip

Join our Smart Investment Community

More than 250,000 users are using FlipItNews to stay updated about the business and finance world! Join FlipItNews now and take smart investment decisions!
Icon