BQuick On Jan. 13: Top 10 Stories In Under 5 Minutes
BQuick | Top news, must-read stories and columns – all served up in less than 5 minutes.
Here’s a roundup of the day’s top stories in brief.
1. Infosys Gets A Digital Boost, Raises Guidance
Infosys Ltd. raised its FY21 earnings guidance, after reporting 7.3% profit growth in the December-ended quarter.
2. Wipro’s Revenue, Margin Beat Expectations
Wipro Ltd.’s quarterly revenue rose, aided by a ramp-up in spending on technology. Profit rose 20.3% sequentially while revenue increased 3.68%.
3. Sensex Takes A Breather
Indian equity benchmarks were little changed with stocks fluctuating between gains and losses.
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Crude prices rose for the seventh straight day, its longest streak since 2019.
4. SAIL Offer For Sale Starts Tomorrow
The government plans to sell up to 20.65 crore shares, or 5% of the total equity in Steel Authority of India Ltd. through an offer for sale. The floor price has been set at Rs 64 apiece, a 13.6% discount to Wednesday’s closing price.
5. What Drove Pharma Sales In December
Sales in India’s pharmaceutical market picked up pace in December due to new launches and an increase in prices. The year-on-year growth in pharma sales stood at 8.4% in December.
6. Digital Lending: RBI Sets Up Panel To Frame Regulations
India’s central bank has set up an internal working group that will design a regulatory framework for digital lending firms to operate within after noting a spurt in the popularity of such loans.
7. Should India Be Worried About U.S. Opposition To Digital Tax?
India’s equalisation levy, that will impact foreign digital companies operating in the country, has been called discriminatory by the U.S. There’s no specific action prescribed against India yet. And they are unlikely to do that either. Yet, Indian authorities need to clear the air.
8. Petrol, Diesel Prices Hiked After 5-Day Hiatus
Fuel prices were increased further in the country, taking petrol and diesel rates to their highest level ever in Delhi and Mumbai respectively. Petrol and diesel prices were hiked by 25 paise per litre each.
9. India's Rs 48,000-Crore Tejas Order
India will buy 83 indigenously made fighters -- the Tejas Light Combat Aircraft -- manufactured by Hindustan Aeronautics Ltd., in a set back for overseas combat aircraft makers seeking business in the South Asian nation.
10. India Central To U.S. Plan To Counter China’s Rise
The Trump administration declassified its strategy to ensure continued dominance over China, which focuses on accelerating India’s rise as a counterweight to Beijing and the ability to defend Taiwan against an attack.