BUSINESS
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May- 2022 -23 May
Sensex jumps 311 points in early deals; Nifty gains over 83 points
Mumbai: Equity benchmarks started the trade on a firm note on Monday, with the Sensex jumping nearly 311 points in early deals, amid mixed trends from Asian markets. The 30-share BSE benchmark Sensex jumped 310.91 points to 54,637.30. The broader NSE Nifty gained 83.35 points to 16,349.50. From the Sensex firms, Maruti, M&M, Asian Paints, Titan and Kotak Mahindra Bank were the early gainers. In contrast, Tata Steel, ITC, Power Grid and Reliance Industries were among the laggards. Meanwhile, Asian markets in Hong Kong, Shanghai and Tokyo were trading on a mixed note. Stock markets in the US had ended on a mixed note on Friday. “US stocks closed mixed on Friday. Asian stocks traded mixed on Monday as investors assess…
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21 May
Musk opens hardcore litigation department at Tesla to fight lawsuits
San Francisco: Elon Musk on Saturday announced to open a litigation department at Tesla to initiate and execute lawsuits, as the electric car-maker is facing lawsuits over rampant sexually harassment at the workplace. In a tweet, Musk said: “Tesla is building a hardcore litigation department where we directly initiate & execute lawsuits. The team will report directly to me. Please send 3 to 5 bullet points describing evidence of exceptional ability at justice@tesla.com”. The move came as more women filed separate lawsuits in December last year against electric car-maker in the US for rampant sexually harassment, as Musk was accused of tweeting “lewd comment about women’s bodies or a taunt toward employees who report misconduct”. The women alleged that they’re subject…
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21 May
TVS Motor unveils new iQube electric scooter
Bengaluru: Two-and-three wheeler manufacturer TVS Motor has unveiled a new iQube electric scooter in three avatars that comes loaded with several interesting features. With a starting price of Rs 98,564, the new TVS iQube series offers a choice of three variants — iQube ST, TVS iQube S and TVS iQube — in 11 colours and three charging options. “The launch of the new TVS iQube is a testament to our commitment of offering world-class EV technology with never-before intelligent and personalised connected experience,” Sudarshan Venu, Managing Director, TVS Motor Company, said in a statement. The new electric scooters offer a host of intelligent connected features such as 7-inch TFT touchscreen and clean UI, infinity theme personalisation, voice assist and TVS iQube…
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21 May
Vintage Mercedes sells for nearly Rs 1,100 cr, becomes world’s most expensive car
Toronto: A vintage 1955 Mercedes-Benz has been sold for $143 million (about Rs 1,100 crore), making it the most expensive car ever sold at an auction. In the most remarkable car auction ever conducted, RM Sotheby’s in association with @MercedesBenz, has sold one of the two famed 300 SLR Uhlenhaut Coupés to a private collector for €135,000,000. Making it the most valuable car in the world ever sold at auction in any category. pic.twitter.com/jutWeCgjq7— rmsothebys (@rmsothebys) May 19, 2022 Canada-based RM Sotheby’s announced that it has auctioned off a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe, earlier this month, for 135 million euros, or about $143 million, reports CNBC. The sale smashed the previous record for the most expensive car sold at…
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19 May
Rupee slips 12 paise to 77.74 against US dollar in early trade
Mumbai: The rupee extended its losses and slipped 12 paise to 77.74 against the US dollar in early trade on Thursday, weighed down by a muted trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange, the rupee opened at 77.72 against the American dollar, then lost ground to quote at 77.74, registering a fall of 12 paise from the last close. On Wednesday, the rupee declined by 1?7 paise to close at its fresh lifetime low of 77.6?1 against the US dollar. The rupee opened weaker against the US dollar on Thursday as global equities plunged on concerns that high inflation and monetary policy tightening will fuel an economic slowdown, said Sriram Iyer, Senior Research Analyst…
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19 May
Sensex dives 1,155 points in early trade amid weak global markets
Mumbai: Equity benchmarks fell sharply on Thursday in line with an extremely weak trend in the global markets, with the Sensex plunging 1,154.78 points in early trade. Persistent foreign fund outflows and a spurt in crude oil prices also dampened sentiment. The 30-share BSE benchmark was trading 1,154.78 points lower at 53,053.75. The broader NSE Nifty tumbled 335.65 points to 15,904.65. From the Sensex firms, Tech Mahindra, Bajaj Finserv, Infosys, Wipro, Tata Steel, HCL Technologies, Bajaj Finance and State Bank of India were the major laggards in early trade. ITC emerged as the only gainer from the 30-share pack. Asian markets in Seoul, Shanghai, Hong Kong and Tokyo were also trading lower. Stock exchanges in the US had ended significantly lower…
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17 May
Centre relaxes wheat ban order, allows earlier registered consignments with Customs
New Delhi: The government has announced some relaxation to its recent order on restrictions of wheat exports. It has now decided that wherever wheat consignments have been handed over to Customs for examination and have been registered into their systems on or prior to May 13, such consignments would be allowed to be exported. The government also allowed a wheat shipment headed for Egypt, which was already under loading at the Kandla port. This followed a request by the Egyptian government to permit the wheat cargo being loaded at the Kandla port. The Centre had earlier restricted wheat exports to manage the overall food security situation in India and to support the needs of neighbouring and vulnerable countries that are adversely…
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17 May
Sensex jumps 930 points; Tata Steel, ITC, Reliance Industries surge
Mumbai: The Indian stock markets’ key indices, Sensex and Nifty, jumped by nearly two per cent on Tuesday led by strong buying support in metal, energy and banking stocks. The 30 stock S&P BSE Sensex was trading 930.62 points or 1.76 per cent higher at 53,904.46 points at 12.44 pm, against its previous day’s close at 52,973.84 points. Earlier, the Sensex opened in the positive at 53,285.19 points and jumped to a high of 53,991.49. This is the second consecutive day of rally in the Indian equities markets. The Sensex had 180.22 points or 0.34 per cent on Monday. The broader Nifty 50 of the National Stock Exchange was trading 294.45 points or 1.86 per cent higher at 16,136.75 points against…
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17 May
India export ban shakes global wheat prices
Hong Kong/Sydney: Wheat prices increased after India imposed a ban on exports, stoking pressure on food costs as tight global supplies roiled international markets. Futures traded in Chicago rose as much as 5.9 per cent to $12.47 a bushel, their highest level in two months, Financial Times reported. Wheat prices have risen more than 60 per cent this year, driven up by disruption from Russia’s invasion of Ukraine. The two European countries account for almost a third of the world’s wheat exports. India, the world’s second-biggest wheat producer after China, had filled a gap in markets left by decreased output from Ukraine thanks in part to a bumper harvest of 7 million tonnes last year, even as inclement weather reduced the…
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16 May
Sensex jumps nearly 274 points in early trade; Nifty climbs to 15,873
Mumbai: The Sensex jumped nearly 274 points in early trade on Monday, tracking significant gains in US markets and buying in index majors Reliance Industries and HDFC. The 30-share BSE benchmark was trading 273.74 points higher at 53,067.36 in early deals. The broader NSE Nifty gained 91.1 points to 15,873.25. Among the Sensex firms, Tata Steel, Titan, Maruti, Bajaj Finance, M&M, Larsen & Toubro, State Bank of India, IndusInd Bank, Reliance Industries and HDFC were the biggest gainers in early trade. In contrast, UltraTech Cement, Dr Reddy’s, Nestle and Hindustan Unilever were among the laggards. Markets in Asia were trading on a mixed note, with Hong Kong, Seoul and Shanghai quoting marginaly lower, while Tokyo traded higher. Stock exchanges in the…
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