Factors behind markets crash
A sharp crash in the domestic markets left investors running for cover in Monday’s session as benchmark equity indices tumbled. The S&P BSE Sensex lost 2,037 points in intra-day deals to hit a low of 44,923.08. The index, however, recovered partially and ended the day at 45,554 levels – down 3 per cent, or 1,407 points. Read here
Delhi HC rejects Future’s plea for injunction against Amazon
The Delhi High Court on Monday declined to grant Kishore Biyani-led Future Retail Ltd’s (FRL) plea for an interim injunction restraining Amazon from writing to SEBI, CCI and other authorities about the arbitral order against its asset sale. Read here
Mahindra’s Korean subsidiary Ssangyong Motor files for bankruptcy
SsangYong Motor Company (SYMC), the South Korean subsidiary of Mahindra and Mahindra (M&M), on Monday informed the Korean Stock Exchange regarding the commencement of the rehabilitation procedure with the Seoul Bankruptcy Court, M&M said in a notification to the stock exchanges. Read here
New virus strain: India suspends UK flights
India will suspend flights from and to the UK from Tuesday midnight till December 31, joining others in announcing travel bans over a new strain of the coronavirus in the European country. Europe and regions from Canada to Hong Kong suspended travel links to the UK, as a full lockdown came into force in London and southeast England to contain a mutation to the coronavirus. Read here
Wistron sees no major impact of Karnataka plant vandalisation
Taiwanese major Wistron, whose iPhone manufacturing plant was vandalised earlier this month over wage issues, has said that the incident will not impact the company significantly. “As the Narasapura facility is a new operation and the shipment quantity is still small, the incident will not cause significant impact to Wistron,†it said in a statement to the Taiwan Stock Exchange. The company had pegged the damages during the riot at Rs 50 crore. It also manufactures Microsoft and Lenovo products at the factory. Read here
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