Sensex losses 566 pts, Nifty around 17,800 dragged by IT, banks; metal, power gain: Top Business news
Markets inched lower for the second consecutive session and lost nearly a percent. Weak global cues viz. hawkish commentary from the US Fed and the possibility of fresh sanctions on Russia largely impacted investors’ sentiment.
After the negative start, the benchmark hovered in a narrow range and finally settled around the day’s low. Finally, the Nifty index ended lower by 0.8% at 17,812 levels. Meanwhile, a mixed trend on the sectoral front kept the participants busy. The broader markets outperformed for the second day in a row and ended higher.
Maruti Suzuki India To Increase Car Prices From April 2022:News
Maruti Suzuki India, the country’s largest carmaker by volume, has announced that it will be increasing vehicle prices in April 2022. According to a regulatory filing on the Bombay Stock Exchange (BSE), the carmaker has planned this price rise sometime later this month. Maruti has not revealed the quantum of increase in prices, however, the company has said that the hike shall vary for different models. The Indo-Japanese carmaker has said that the increase in various input costs is the reason why it is increasing vehicle prices.
Rupee’s record-breaking downward streak continues unabated for 16th session:Top Business news
The Pakistani rupee hit a record low of Rs186.13 against the US dollar on Wednesday compared to Rs185.23 on the previous working day, according to the State Bank of Pakistan’s (SBP) data.
The rupee has maintained a non-stop downward streak for the 16th successive working day except on March 24 when it closed flat compared to the previous day’s closing as investors worried about the political situation and economy, adding pressure on the central bank to rescue the falling currency.
The Pakistani currency dropped 0.48% (or Re1) to a new historic low beyond the important threshold of Rs186 against the US dollar in the inter-bank market on Wednesday.
Vijay Shekhar Sharma to Paytm shareholders: ‘My stock grants to be vested only when..’
In a letter to shareholders, Paytm founder and CEO Vijay Shekhar Sharma said that the fintech firm is committed to building a profitable company and believes that it should be operating EBITDA breakeven in next 6 quarters.
Tata Curvv EV: Tata Motors unveils its latest electric vehicle in India
Tata Motors has taken a new step in spreading its electric vehicle segment in India. Today the company (Tata Motors) has unveiled its new electric vehicle ‘Tata Curvv EV’ in India. The new Curvv will be a midsize SUV coupe and will be placed above Tata Nexon EV in the company’s EV hierarchy. Currently, Tata Motors offers Tata Nexon and Tata Tigor cars as its electric offering in India.
Tata Curvv will be based on Tata’s generation 2 EV architecture that is built to accommodate many body styles as well as suit various powertrain options. This roughly means that the platform can allow the Tata Curvv to operate with an all-wheel-drive setup. The Tata Curvv EV is expected to house a larger battery than the Tata Nexon EV. This will allow the new SUV coupe to offer a range of 400-500km in the real world. “A new typology vehicle crafted for the Indian roads with exhilarating performance and futuristic concept’’, says Tata Motors about the new car.
CNG Price Hiked By Rs 6 In Pune, Also Check Rates Of Petrol And Diesel For 6th April 2022:News
In a major hike, the price of CNG has been increased by Rs 6 in Pune city.
According to Ali Daruwala, spokesperson of the All India Petrol Dealers Association (AIPDA), the price of petrol, diesel, power, and CNG will be as follows:
Petrol Rs 119.96
Power Rs 124.46
Diesel Rs 102.67
CNG Rs 68.00
Speaking about the price increase of CNG, Daruwala said, “The main reason for this steep increase is because of the rise in one particular imported gas which is added into the mixture of CNG. The international price of this particular gas has been doubled in the international market.”
The price of petrol, diesel, power, and CNG in Pune city on 5th April 2022 was as follows:
Petrol Rs 119.13
Power Rs 123.63
Diesel Rs 101.84
CNG Rs 62.20
BSNL plans to install 1.12 lakh towers across India ahead of 4G rollout
The Telecom minister informed that BSNL is in the process of ordering 6,000 towers immediately, with another 6,000 towers later and finally taking the total to more than 1 lakh towers. The company plans to install these towers across the country for the 4G network.
Government-owned BSNL intends to install about 1.12 lakh towers across the country ahead of the indigenous 4G telecom network rollout throughout India. Telecom Minister Ashwini Vaishnaw informed the Lok Sabha about the development on Wednesday.
