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LIC books record profit in April-November
By Administrator_ India Capital Sands LIC’s profits primarily come from sale of shares in the insurer’s large, non-linked portfolio, which includes traditional life insurance policies LIC has booked its highest ever profit of ₹25,908 crore from selling stocks in the eight months ended 30 November, three people, including a top LIC official, said, as the […]
Delhi AQI in very poor category; may improve with rainfall in next two days
By Administrator_ India Capital Sands The IMD has forecast that Delhi and the neighboring towns are likely to receive rainfall on December 11 and December 12. This is also likely to improve the air quality of the city which was 317 at 7am on Thursday, in the very poor category. Kuldeep Srivastava, head of IMD’s regional weather […]
Fitch now expects lower GDP contraction in India at 9.4% for FY21
By Administrator_ India Capital Sands A sharper-than-expected rebound by India’s economy in the second quarter has prompted Fitch Ratings to lower its projections for GDP contraction to 9.4 per cent in the current financial year from 10.5 per cent forecast earlier. However, the agency warned against weak investment demand with Covid-19 affecting the economy and asset quality […]
Walmart Prepares For $10 Billion Flipkart IPO In The US
By Administrator_ India Capital Sands Walmart is preparing for ecommerce major Flipkart’s $10 billion initial public offering in the US and has hired Goldman Sachs to assist with the listing. The US retail giant is looking to sell around 25 percent in Bengaluru-based Flipkart, Mint reported. “Work on the IPO (initial public offering) is in […]
OPEC+ resumes talks on 2021 policy amid discord on how to tackle oil demand
By Administrator_India Capital Sands LONDON – OPEC and Russia resume talks on Thursday in a bid to define policies for 2021 after an initial round of discussions this week failed to bring a compromise on how to tackle weak oil demand amid a second coronavirus wave. The group of OPEC and allies, known as OPEC+, had been widely expected to roll over existing oil […]
Pfizer vaccine not coming to India soon as trials yet to be conducted
By Administrator_ India Capital Sands While the UK government has cleared Pfizer-BioNTech’s mRNA vaccine for use in public, the same is unlikely to be available anytime soon in India. For one, US giant Pfizer’s India arm has not yet applied for conducting clinical trials here, according to sources, and secondly, the vaccine has stringent temperature requirements (-75 […]
India’s November diesel sales decline 7% after rising in October
By Administrator _India Capital Sands India’s diesel sales fell 7% in November from a year earlier, after rising in the previous month, according to preliminary data on state refiners’ fuel sales, signaling industrial activity is still slow to pick up after a national lockdown was eased. Diesel sales in India, the world’s third biggest oil […]
All India Taxi Union threatens to go on strike if demands of agitating farmers not met within 2 days
By Administrator_ India Capital Sands The All India Taxi Union on Monday threatened to go on strike if the demands of the farmers, protesting against the Centre’s new farm laws at different border points of the national capital, are not met within two days. President of the Union, Balwant Singh Bhullar, said they are giving […]