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Sensex, Nifty record strongest quarter in 11 years

by pallanus | Jun 30, 2020 | Business News

Indian shares ended lower on the last day of its best quarter since 2009, led by losses in energy stocks, and ahead of Prime Minister Narendra Modi’s address to the nation. The Nifty settled down 0.1% at 10,302.1 on Tuesday, while the benchmark Sensex slipped...

India’s war on China apps will have network effect

by pallanus | Jun 30, 2020 | Business News

India is extending a fight with China from the Himalayan mountains into cyberspace. ByteDance’s hugely popular video-streaming app TikTok is among 59, mostly Chinese, ones banned by New Delhi on national security concerns.  (Representational Image: Reuters)...

Eight core industries’ output contracts 23.4% in May

by pallanus | Jun 30, 2020 | Business News

According to the official data, the output of eight core infrastructure industries shrank by 23.4 per cent in May due to the coronavirus-induced lockdown. During April-May 2020-21, the sectors output dipped by 30 per cent as compared to 4.5 per cent in the same period...

India buys record amount of wheat, grain bins spill over

by pallanus | Jun 30, 2020 | Business News

The Food Corporation of India (FCI), which buys grain from farmers at a state-set guaranteed price, has bought a record 38.83 million tonnes of wheat, a government statement showed. Last year, the FCI procured 34.13 million tonnes of wheat. This year’s domestic...

India’s Chinese app ban seen jolting $1 billion expansion of ByteDance

by pallanus | Jun 30, 2020 | Business News

An Indian ban on dozens of Chinese apps following a border clash between the two nations has possibly derailed a $1 billion India expansion plan of China’s ByteDance, while also sparking an uproar from users of its popular TikTok video app. TikTok was removed...
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