Mint Midday Digest: Rise in housing prices, Apple layoffs contract workers and much more
Premium- Here are the top business news, equity market precursors, and economic and banking news updates from India and across the world for 16 August, 2022
How to time the market to buy stocks? Zerodha CEO Nithin Kamath gives out a formula
Zerodha CEO Nithin Kamath has advice for all those who are confused when to buy stocks: follow the Buffett Indicator. Now, what exactly is this? Read more here
Virat Kohli-backed Digit Insurance files for IPO
India's Digit Insurance, backed by Canadian billionaire Prem Watsa's Fairfax Group, has filed for an initial public offering, draft papers filed with the market regulator showed on Tuesday. Read more here
Amazon offers OnePlus 10T 5G on great discount: Check price, offers and more
Amazon and OnePlus are all set to offer the OnePlus 10T 5G on great discounts in India. It is the highest ever RAM smartphone in India. Yet. With 16GB of RAM, this device is also available in 8GB and 12GB variants. Read more here
Real estate prices in Delhi-NCR sees highest price increase among top 8 cities: Report
A resurgence in demand for residential real estate has led to an increase in prices across the top eight cities. Prices in Delhi, NCR rose 10% - the highest amongst Mumbai, Kolkata, Pune, Hyderabad, Chennai, Bengaluru, and Ahmedabad, during Q2 of 2022 (April-June), a joint report by real estate association CREDAI and domain experts Colliers and Liases Foras said. Read more here
Nithin Kamath has an idea for a health-tech startup
Nithin Kamath, the Founder and Chief Executive Officer (CEO) of Zerodha, has an idea for a health-tech startup. And, he chanced upon the idea while trekking for three straight days. Read more here
Samvardhana Motherson's bonus shares issue decision to be taken in board meet today. Details inside
Samvardhana Motherson International Limited's (formerly Motherson Sumi Systems Limited) board will meet today to consider the proposal for bonus equity shares of the company. Bonus shares are fully paid additional shares issued by a company to its existing shareholders. Read more here
In rare move, Apple lays off many contract workers
Apple Inc. laid off many of its contract-based recruiters in the past week, part of a push to rein in the tech giant’s hiring and spending, according to people with knowledge of the matter. Read more here
India Inc to see 10% median salary hike in 2023
India Inc. will see a 10% median salary hike in 2023, pushed by labour constraints and inflation concerns. Global advisory firm WTW noted that the median increase could translate to a 9.8% hike with financial services, banking, technology, media and gaming companies expected to offer the highest increments. Read more here
Housing prices rise 5% in April-June across 8 cities due to resurgence in demand
A resurgence in residential demand has led to a 5 percent increase in prices across the top eight cities while registering a marginal decline in unsold inventory during April-June quarter, according to a report. Read more here
India sees a dip in daily infections, 8,813 new cases logged in 24 hrs
India reported 8,813 fresh coronavirus infections and 29 related deaths in the last 24 hours, as per an update by the Union health ministry on Tuesday. India’s active caseload stands at 1,11,252, with total reported cases, since the pandemic hit, exceeding 4.42 crore. Death told stands at 5,27,098. Read more here
SpiceJet settles with aircraft lessor Goshawk for Boeing aircraft
Budget carrier SpiceJet today said that it has entered into a settlement agreement with aircraft lessor Goshawk Aviation Ltd and its affiliates related to three Boeing aircraft. Read more here
Zerodha: Intraday profits in account balance to get updated on Aug 17-18
Zerodha through a tweet has informed stock market traders that “today is a settlement holiday on account of Parsi New Year. Your account balance today won't include credits from equity intraday profits made on 11th & 12th August; credits & M2M profits from F&O positions on 12th August. Currency trading will also be closed today. Read more here
With Paytm Postpaid, Samsung stores to offer 'Buy now, pay later', No Cost EMIs
Paytm has partnered with Samsung to provide Paytm Postpaid. It will work with Samsung retailers to deploy smart PoS devices and enable smart payments and Paytm Postpaid (Buy Now, Pay Later). Customers will be able to make digital payments at Samsung Authorized stores located all throughout the country with the help of this agreement between Paytm and Samsung. Read more here
SBI gives free doorstep banking service to these customers. Details here
The State Bank of India (SBI) doorstep banking service was started during the times of covid-19 pandemic. Senior citizens, differently abled, certified chronic illness, visually challenged, account holders with KYC registration, single/joint account holders and customers residing under 5 km radius of home branch can apply for it. Read more here
Madhya Pradesh: School in Bhopal district closed today due to incessant rainfall
The Bhopal District Collector has directed that all schools in the district to remain closed today i.e. 16 August due to incessant rainfall, news agency ANI has reported. Read more here
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