Business 

Gold prices up Rs 96 to Rs 48,222/10 gm on safe-haven ; Silver corrects Rs 810 a kg

By Administrator_ India Capital Sands Gold prices jumped by Rs 96 to Rs 48,222 per 10 gram in the Mumbai retail market on positive global cues and renewed risk aversion in global financial markets, however, the upside was capped by a sharp gain in the rupee. The surging cases of Delta variant of coronavirus and rising inflationary pressure gave safe-haven yellow metal a boost. The price of 10 gram, 22-carat gold in Mumbai was Rs 44,171 plus 3 percent GST, while 24-carat 10 gram stood at Rs 48,222 plus GST.…

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Business 

Fed to shutter pandemic support asset purchases by end-2022

By Administrator_ India Capital Sands The Federal Reserve will shutter its asset purchases program by the end-2022, according to a Reuters poll, with a few more economists now predicting a rate hike as early as next year, but they pegged new COVID-19 variants as the biggest economic risk. However, Fed chair Jerome Powell said on Wednesday withdrawing monetary policy support was a long way off, with 7.5 million jobs still missing from before the pandemic. Following his testimony, where he also concluded that high inflation would be transitory, the US…

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Business 

Gold prices modestly lower on sharp appreciation in rupee

By Administrator_ India Capital Sands Gold prices fell marginally by Rs 128 to Rs 47,459 per 10 gram at the Mumbai retail market on a sharp recovery in rupee and increased appetite for risky assets. The precious metal marginally rose in the global market on the decline in US dollar and Treasury yields. The rate of 10 gram 22-carat gold in Mumbai was Rs 43,472 plus 3 percent GST, while 24-carat 10 gram was Rs 47,459 plus GST. The 18-carat gold quoted at Rs 35,594 plus GST in the retail…

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Business 

Sensex jumps over 100 points in early trade; Nifty tops 15,800

By Administrator_ India Capital Sands Equity benchmark Sensex jumped over 100 points in early trade on Wednesday, tracking gains in index-heavyweights Infosys, HUL, and Maruti, amid a positive trend in global equities. The 30-share BSE index was trading 145.45 points or 0.28 percent higher at 52,734.16 in initial deals. Similarly, the broader NSE Nifty advanced 49.70 points or 0.32 percent to 15,822.45. IndusInd Bank was the top gainer in the Sensex pack, rising over 1 percent, followed by Maruti, Titan, Tata Steel, HUL, and Infosys. On the other hand, Kotak…

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Business 

Bharti Airtel, TCS To Jointly Build 5G Networks In India

By Administrator_ India Capital Sands Bharti Airtel and Tata Group have entered into a strategic partnership for implementing 5G network solutions for India. “Airtel will pilot and deploy this indigenous solution as part of its 5G rollout plans in India and start the pilot in January 2022, as per the guidelines formulated by the Government of India,” Bharti Airtel said in a regulatory filing to the stock exchanges. Gopal Vittal, MD & CEO (India and South Asia) Bharti Airtel said, “We are delighted to join forces with the Tata Group…

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Adani Green buys SB Energy from Softbank and Bharti; firm valued at $3.5 bn Business 

Adani Green buys SB Energy from Softbank and Bharti; firm valued at $3.5 bn

By Administrator_ India Capital Sands Adani Green Energy Ltd. said on Wednesday it is acquiring SB Energy India from Softbank of Japan and India’s Bharti Group to add 4,954 MW in its renewable power portfolio. The deal is the biggest acquisition in India’s renewable power sector. The transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion. The target portfolio consists of large-scale utility assets with 84 percent solar capacity (4,180 MW), 9 percent wind-solar hybrid capacity (450 MW), and 7 percent wind capacity (324 MW). The portfolio comprises…

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DBS private bank offers wealth succession planning Business 

DBS private bank offers wealth succession planning

By Administrator_ India Capital Sands DBS Group its private banking arm has started offering trust services for cryptocurrencies, helping rich clients include the emerging asset class in their succession plans. This is the latest move into cryptocurrencies by Southeast Asia’s largest bank, which late last year launched a crypto exchange for institutional and other accredited investors. Several other banks around the world are cautiously starting to offer crypto-related services, often to their very wealthy clients, drawn by the recent surge in the price of bitcoin and other cryptocurrencies. Bitcoin has…

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Facebook signs first deal to buy renewable energy from local firm in India Business 

Facebook signs first deal to buy renewable energy from local firm in India

By Administrator_ India Capital Sands Facebook has signed a deal to buy renewable energy in India from a local firm’s wind power project, the social media giant’s first such deal in the South Asian nation, the companies said on Thursday. The 32-megawatt wind power project, located in southern Karnataka state, is part of a larger portfolio of wind and solar projects that Facebook and Mumbai-based CleanMax are working together on for supplying renewable power into India’s electrical grid, they said in a joint statement. CleanMax will own and operate the projects, while Facebook will buy the power off…

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Petrol, Diesel prices remain steady, govt tax collection on fuel swells by 459% in 7 years Business 

Indian Oil proposes sale of hydrogen facilities instead of oil, gas pipelines

By Administrator_ India Capital Sands Indian Oil Corporation is not very keen on selling a stake in its pipelines and has instead proposed to sell some of its hydrogen-producing facilities. Indian Oil plans to hive off some of its hydrogen-producing units and sulfur recovery facilities at its refineries to a separate entity and sell stakes in it to one or more private companies, Economic Times reported, citing sources. Indian Oil, the largest oil refiner and fuel marketer in the country, is also the biggest hydrogen producer in India. Indian Oil…

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PhonePe & Paytm lock horns: Both claim market leadership Business 

PhonePe & Paytm lock horns: Both claim market leadership

By Administrator_India Capital Sands Walmart-owned PhonePe and SoftBank-backed Paytm have both claimed market leadership in February 2021 in India’s intensely competitive digital payments space. While Paytm claimed on March 1 that it has crossed 1.2 billion monthly transactions across payments methods such as Wallet, UPI, cards, and internet banking, PhonePe staked its claim for digital payments market leadership on March 2, with over 1.07 billion transactions across UPI, Cards, and Wallets. While Paytm said this growth came on the back of strong growth in offline payments and financial services, PhonePe…

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