Page 3541 - Business Finance
Electricity demand from EVs to help power utilities earn USD 11 bn: Report
The overall electricity demand from large-scale adoption of electric vehicles (EVs) in India is projected to touch 69.6 terawatt hours by 2030, helping power utilities earn an additional revenue of USD 11 billion, a report said today. The joint study by Assocham and Ernst & Young LLP added that increasing adoption of EVs across India will be instrumental in transforming the country's power sector and reduce emissions by 40-50 per cent, helping the country in achieving carbon emission reduction targets. Moreover, it said, the mass adoption of electric mobility is expected to help the power and utilities sector realise net cost and revenue benefits from both demand and supply side. "By 2030, EVs are expected to reduce emissions by 40-50 per cent, compared to internal combustion engine vehicles in an aggressive renewable energy scenario," the study said. However, the report added that even if the grid continues to be coal-heavy, emissions are likely to reduce by 20-30 per cent. The ..
Market off day's low
Stocks staged a pullback in mid-afternoon trade after hitting fresh intraday low in afternoon trade. At 14:15 IST, the barometer index, the S&P BSE Sensex, was down 139.97 points or 0.39% at 35,599.19. The Nifty 50 index was down 50.60 points or 0.47% at 10,806.10. Capital goods stocks declined. Most metal and mining stocks fell. Sentiment was weak due to negative global cues triggered by the US Federal Reserve raising interest rates and striking a hawkish tone in its latest policy statement.
UK retail sales smash forecasts as Britons celebrate royal wedding and bask in sun
LONDON (Reuters) - British retail sales jumped for a second month in a row in May, far outstripping expectations as a royal wedding and warm weather helped shoppers put a winter slump further behind them, data showed on Thursday.
Rolls-Royce CEO cuts 4,600 jobs to boost profitability
LONDON (Reuters) - Rolls-Royce is to cut 4,600 jobs over two years in the latest attempt by boss Warren East to cut costs and make Britain's best known engineering company more profitable and dynamic.
India's wholesale inflation in May doubles Y-o-Y to 4.43%
A major spurt in food and fuel prices in the country pushed the wholesale price index (WPI) for May to 4.43 percent, to nearly double over the 2.26 percent registered in May last year and higher than the 3.18 percent recorded in April, 2018, Commerce Ministry data showed on Thursday.
HCL Technologies bags IT infrastructure services contract from Falck
Through this deal, HCL will support Falck's business transformation by consolidating, simplyfing and standardizing Falck's IT infrastructure operations through a centralised global service delivery model. The new centralised model will enable greater automation, improved cost transparency, enhanced operational efficiency and increased control. The delivery hubs for this engagement will include HCL's newly inaugurated Global Delivery Centre in Gothenburg, Sweden and sites in the US and South America.
MERC reserves order on Reliance Infrastructure's sale of Mumbai power business to Adani Transmission
Expected to be issued in next few weeks
Indo Count Industries wins Vasundhara Award from Govt. of Maharashtra
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HCL Tech gains after winning contract
HCL Technologies rose 1.26% to Rs 934.30 at 13:37 IST on BSE after the company said it received an infrastructure service contract from Flack.
Unilever signals unlikely to stay in FTSE after Dutch move
LONDON (Reuters) - Consumer goods group Unilever said it is "extremely unlikely" to stay in Britain's blue-chip FTSE 100 index after ending its dual-headed structure and moving its headquarters to the Netherlands.
Cabinet approves Three Year Action Plan of Agricultural Education Division & ICAR Institutes
i. "Strengthening and Development of Higher Agricultural Education in India - Rs. Rs.2050.00 crore;
Vedanta Ltd down for fifth straight session
The stock is quoting at Rs 242.05, down 0.43% on the day as on 13:19 IST on the NSE. Vedanta Ltd jumped 2.61% in last one year as compared to a 12.7% rally in NIFTY and a 22.56% spurt in the Nifty Metal index.
Embattled ZTE seeks $10.7 billion credit line, nominates eight board members
HONG KONG (Reuters) - Chinese telecommunications giant ZTE Corp has proposed a $10.7 billion financing plan and nominated eight board members in a drastic management overhaul, as it seeks to rebuild a business crippled by a U.S. supplier ban.
PhonePe, Ola tie-up to enable hassle-free cab, auto bookings
Payments platform PhonePe on Thursday announced its partnership with Ola, India's leading and one of the world's largest taxi aggregator, for a hassle-free cab and auto booking experience.The tie-up will enable users to now book an Ola using the PhonePe app.With this integration, PhonePe users will have access to Ola's multi-modal commuting offerings, along with the benefit of using the industry-first AutoPay feature.With both the companies already catering to a large user base, this also becomes the first large scale implementation of AutoPay (through standing instructions) for ride bookings in India. Through AutoPay, users just need to link their preferred Credit/Debit card for a Ola ride in the PhonePe app once, and their ride-fare would automatically be paid at the end of every ride. Users also have the flexibility of setting and switching off AutoPay instructions anytime they want."Ola is the largest smart mobility player in the market and we are delighted to partner with them. ..
Gold hits two-week high on dollar weakness, trade worries
BENGALURU (Reuters) - Gold hit a two-week high on Thursday, supported by a weaker dollar and trade worries between Washington and Beijing, even as the U.S. Federal Reserve forecast a slightly faster pace of interest rate hikes this year.
Weak global cues pull equity indices lower
Weak Asian indices and a rate hike by the US Federal Reserve depressed the key Indian equity indices on Thursday afternoon.
Lupin Ltd is up for a third straight session in a row
The stock is quoting at Rs 881.65, up 1.12% on the day as on 12:49 IST on the NSE. Lupin Ltd is down 25.43% in last one year as compared to a 12.63% spurt in NIFTY and a 6.48% spurt in the Nifty Pharma index.
HCL Technologies Ltd is up for a third straight session today
The stock is quoting at Rs 935.65, up 1.29% on the day as on 12:49 IST on the NSE. HCL Technologies Ltd is up 10.81% in last one year as compared to a 12.63% jump in NIFTY and a 34.25% jump in the Nifty IT index.
Tata Global Beverages Ltd rose for a third straight session today
The stock is quoting at Rs 276.45, up 2.54% on the day as on 12:49 IST on the NSE. Tata Global Beverages Ltd is up 73.76% in last one year as compared to a 12.63% gain in NIFTY and a 11.91% gain in the Nifty FMCG index.