Friday, 12 February 2021 - 8:28
A world-renowned economist says that the Special Economic Zone in the Port City of Colombo should be established soon.
Dr. Ganeshan Wignaraja of the South Asian Institute of Studies in Singapore said that the Port city of Colombo could be developed as a global financial services hub between Dubai in the west and Singapore in the east.
Dr. Wignaraja said that the global investment flow has slowed down in the face of the COVID-19 global pandemic and that the rapid establishment of a special economic zone in the Port City of Colombo could attract more investment.
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For consideration of Rs 511 croreMetropolis Healthcare announced that the Board of Directors has approved the acquisition of Dr. Ganesan s Hitech Diagnostic Centre (Hitech).
The acquisition will be a combination of cash and stock deal. The target entity is a debt free company. Cash consideration will be Rs. 511 crore and Metropolis will issue up to 4,95,000 equity shares of Face Value Rs.2/- each on preferential basis, subject to Shareholders approval, to
the Promoter Group of Hitech. The Cash consideration will be funded through internal accruals and Debt of up to Rs. 300 crore.
The acquisition will allow Metropolis to increase its B2C business in focus cities of Chennai and
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Key benchmark indices are trading lower in early trade on selling pressure in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 228.47 points or 0.47% at 48,806.20. The Nifty 50 index was down 70.15 points or 0.49% at 14,363.55.
The S&P BSE Mid-Cap index was down 1.49%. The S&P BSE Small-Cap index was down 0.89%.
The market breadth, indicating the overall health of the market, is weak. On the BSE, 825 shares rose and 1315 shares fell. A total of 109 shares were unchanged.
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HDFC Bank rose 1.17%. HDFC Bank reported 18.1% rise in net profit to Rs 8,758.29 crore on 4.1% increase in total income to Rs 37,522.92 crore in Q3 FY21 over Q3 FY20. Net interest income for the quarter ended 31 December 2020 grew by 15.1% to 16,317.6 crore from 14,172.9 crore for the quarter ended 31 December 2019, driven by advances growth of 15.6%, and a core net interest margin for the quarter of 4.2%.
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