THE CURRENT SCENARIO

Advertisement

BREAKING

BSE-SENSEX:: 59,015.89 −125.27 (0.21%) :: :: NSE :: Nifty:: 17,585.15 −44.35 (0.25%)_ ::US$_:: 73.55 Indian Rupee_.

Thursday, September 2, 2021

Market Scenario :: All Big Stories Of Business

Market Scenario :: All Big Stories Of Business


India has a huge market potential to deliver hefty returns: Prosus CEO

Bob van Dijk, Group CEO of Naspers and its international internet arm Prosus, in an interview with The Economic Times said that the company bets big on the Indian digital payments industry as it announced a $4.7-billion acquisition of BillDesk.

What he says: India has a huge market potential to deliver hefty returns.


The technology is going to play a large role over time and this is where a BillDesk to buy fits in.

The company is attracted by the size of the Indian market and its entrepreneurial talent.

HDFC Life likely to buy Exide Life at ₹5,000 crore valuation

HDFC Life is in discussion to buy Exide Life at ₹5,000 crore valuation, reports The Economic Times.

Why it's important: There is tough competition in the life cover sector with more consolidation is happening.

There is a rise in people going for life cover after the outbreak of the pandemic.

HDFC Life is the country's largest private-sector insurer and the acquisition will help them to expand businesses.

Pent-up demand fizzles out, sales down for FMCG, electronics

The pent-up demand after the second wave of pandemic hit has almost tapered off with sales in many of the FMCG goods, smartphones, and other electronics goods fell in August.

Why it's important: The main reason for this downfall is the lack of major online sales events except for the Independence Day celebrations.

The weather pattern especially with heavy rains in some parts of the country.

FMCG sales down declined 14% in August compared to July.

For TVs, washing machines and refrigerators, the dip was around 20%.

And there is an excess stock available at kirana stores across the country.

Everyone is committed to India-UK FTA: UK Chancellor Rishi Sunak

UK Chancellor Rishi Sunak in an interview published in The Times of India, after he attended a meeting with Finance Minister Nirmala Sitharaman virtually for the 11th Economic and Financial Dialogue between the UK and India, said they are very strongly supportive of FTA between the two countries.

What the Chancellor says: We got down to details of the mechanics of which parts of the government will do what. Everyone is committed to the FTA.

We are the only European country that enjoys a comprehensive and strategic relationship with India that the PMs agreed on in May.

India is a rapidly growing economy.

We are strong at financial services here; we can help facilitate India's growth and expansion and help get capital to them (companies).

Monetisation plans may start with GAIL pipelines

The mega plan of the central government to kick start its ₹6 trillion monetisation program may start with GAIL pipelines, reports Mint.

Why it's important: GAIL (India) Ltd has around 2,229 km of gas pipelines that can be leased out to the private sector, now.

The plan is to monetise 8,154km of such pipelines.

The pipelines have got the biggest demand from private investors.

The process has already been started by the government for this purpose.

An infrastructure investment trust (InvIT) may be launched.

Centre eyes land sales worth ₹ 600 crore via e-bidding

The central government is planning to raise money worth more than ₹ 600 crore by selling lands of some PSUs, reports Business Standard.

Why it's important: The government wants to monetise its idle assets.

The process may kick start via a new online bidding platform.

The first tranche of land assets to be put on the block are BSNL, MTNL, BEML, and SCI, among others.

Udaan accuses Parle of abusing position, approaches CCI

The B2B e-comm start-up Udaan has approached the Competition Commission of India against the country's largest biscuit maker Parle Products for abusing its dominant position, reports Business Standard.

What the complaints are: Parle refused supply directly to Udaan in a discriminate manner without giving any justification.

So, Udaan was forced to buy Parle products from the open market.

This is a competitive disadvantage of Udaan and is anti-competitive.