Sunday, January 31, 2021

AM/NS buys Essar Steel's CPP under Sarfaesi, says lenders will recover 85%

The acquisition of EPORL was completed on Saturday. The move is yet another effort to make AM/NS India's operations self-reliant

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Govt may give Cairn oil field instead of paying $1.4 billion: Sources

The government may give Cairn Energy one of the surrendered oil fields such as Ratna R-Series in lieu of the USD 1.4 billion it has pay to the British firm, helping prevent seizure of foreign assets in case of default as well as get a experienced operator in struggling E&P sector, sources said. Cairn Energy gave India its biggest onland oil discovery but exited the country after it was slapped with a Rs 10,247-crore tax demand using a legislation that gave the government the powers to tax companies retrospectively. The firm has now won an international arbitration against the tax demand and the government has been ordered to return the value of shares of Cairn it had sold, dividends it had seized and tax refund it had withheld to recover the tax demand. For a government struggling to find revenue to boost a COVID-19 battered economy, options of appeal against the arbitration award are limited and it may not have the financial bandwidth for such a payout, two sources with knowledge

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Make jewellers partners in gold deposit scheme

The number of places where gold can be tendered is limited and the staff there is ill-trained, making the scheme a non-starter

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Farm stir at the crossroads as west Uttar Pradesh is the new battleground

In Ghazipur, where BKU leader Rakesh Tikait has been staging the protests, the farmers have dug in following reports that he might be arrested for his alleged role in inciting the protesters on Jan 26

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Jayalalithaa aide V K Sasikala has to pull a rabbit out of her hat

She cannot contest this round of the assembly election or the next Lok Sabha election, on account of her conviction and subsequent imprisonment

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Saturday, January 30, 2021

Decoded: Seizing India's foreign assets won't be easy for Cairn Energy

India can challenge the award in the courts of the seat of the arbitration - in this case, the Dutch courts

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Record steel prices help firms acquired under insolvency code out of red

Tata Steel BSL has posted a profit of Rs 913.19 crore in the December quarter, its highest since its acquisition by Tata Steel in 2018

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Over-the-top anger

Tandav is the most recent addition to a wave of bolder, more controversial Indian series that have met with a backlash from the right-wing groups and politicians

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The Wall Street game

Price moves in GameStop (listed as GME on the NYSE) have caused over $5 billion in hedge fund losses and pushed one fund to near-bankruptcy

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Lady in pink: Designer Rhodes gives a peek into her extraordinary life

She expects things to change quite radically; a "scaling down" of the industry is inevitable and, to her mind, very desirable

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Shekhar Gupta: Yogi soars, UP sinks

Uttar Pradesh under Yogi has seen little change for the better. But his personal political fortunes have soared enough to compete for attention with Modi

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Data and the Indian state

A set of essays examines the interaction between the expansion of the digital economy and India's socio-political framework

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President Ram Nath Kovind defends new farm laws, condemns R-Day violence

Some opposition MPs were heard raising slogans in the Central Hall's gallery.

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Frontline workers to get covid vaccine starting early Feb: Health Ministry

India had planned to vaccinate 10 million health and 20 million frontline workers as part of the first phase of vaccine roll-out

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Tata Electronics, Pegatron among Rs 52,258 cr proposals cleared by TN govt

The cabinet also cleared the government's new industrial policy

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Improved outlook, lower promoter pledge positives for Emami stock

All round performance in Q3, attractive valuations add to the optimism, say analysts

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Mumbai's dine-out, shopping plans get a boost with extended biz hours

Move could prompt some shuttered eateries to reopen; late-night shoppers, diners now welcome

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Tata Motors hits profit after three quarters, net zooms 67% to Rs 2,906 cr

JLR posts its highest free cash flows in Q3

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Budget for the victims: Some silent crises for Ms Sitharaman to address

A consumption boost through continued pay-outs for another year to those at the bottom of the pyramid, and still more money for the employee guarantee scheme should be in order, writes T N Ninan

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Friday, January 29, 2021

A year of living and working in the shadow of Covid-19 pandemic

For many businesses, the need to have people coming into office has shrunk. For many others, however, it remains integral to their operations

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DoT, Dipam lock horns over real estate asset valuation of BSNL-MTNL

It is learnt that the valuation done by the two companies is much higher than the one arrived at by the transaction advisors

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PSU privatisation: Govt to amend security clearance policy for investors

The changes are being proposed to obviate situations when a highest bidder fails the security clearance in the case of investment from China or other bordering nations on grounds of national security

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After 'green tax' approval, govt may put vehicle scrap policy on hold

"The announcement of green tax is a step towards the scrappage policy," an official told Business Standard

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Companies can't hold capital assets created with CSR funds: Experts

If such capital expenditure was incurred as part of CSR in the past, the assets need to be transferred within six months.

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15th FC may recommend farm export incentives for states in Budget session

The final report is expected to be tabled in Parliament during the Budget session that begins on Friday.

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Covid-19 pandemic exposed India's justice delivery comorbidities

The pandemic highlighted the need for speedier introduction of technology into the justice system

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Planning to invest? Short-duration funds safer option for retail investors

Rising yields at shorter end of curve will benefit these funds as liquidity level tightens

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Homegrown players score high on TikTok's exit from Indian market

As of Thursday, top free apps on Google's Play Store in India were Moj, TakaTak, Snacky Takatak, Snapchat and Instagram.

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Explained: Why auto design from Indian carmakers lags global standards

The majority of the cars in India have not been very exciting, perhaps because they have been so value conscious, an expert said

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Hindustan Zinc plans to increase earnings through diversification

The company will have its cadmium metal unit up and running by the first quarter of FY22

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Bollywood on the comeback trail as cinemas eye more footfalls

Increase in occupancy will pave way for Hindi blockbusters to release, say multiplex operators

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Budget session of Parliament set to get off to a rocky start on Friday

18 Opposition parties to boycott President's address in solidarity with farmers

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How the republic falls

If you want to understand today's politics, read novels about the fall of Rome. Populism is democracy's oldest and most enduring disease

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Start-ups and IPOs

Its the season of startups planning to go public, but how IPOs have fared at the stock markets in the last three decades?

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Time for statesmanship

If eight states could join the VAT system after the rollout date, why can't the same apply to states opposed to farm laws?

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'Dream Budget' to 'Millennium Budget': Here're India-specific snippets

Budget 1997-98 reduced corporate tax rates; and encouraged higher investment from FIIs

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R-Day violence: Police intensify crackdown, farm leaders dig their heels in

After the withdrawal by two farmer groups on Wednesday, another group protesting at Shahjahanpur decided to end its support

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Make in America

Joe Biden's executive order raises concerns

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Keeping competition alive

CCI's suggestions on telecom are timely

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Covid-19 performance: India ranked 86 out of 98 countries, says study

India ranked below Pakistan, Kenya, Nepal, Nigeria, Ethiopia, Ghana, Israel, among others

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India fastest to vaccinate 1 million in first 6 days: Health ministry data

US took 10 days and Germany 20

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Bharti Airtel tops Nov user additions, increases base to 335 mn: Trai data

Increases base to 335 million; Jio still No. 1 with 408 million subscribers

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Thursday, January 28, 2021

Earnings contraction, poor returns weigh on stock valuations of PSUs

Earnings contraction, coupled with poor return on net worth (RoNW), weighs on the stock valuation of these PSUs

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Firmly behind the curve: PSUs became the biggest laggards on Indian bourses

Market cap of government companies has remained unchanged in the past 8 years

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Samsung readies guardians of the Galaxy to fight iPhone maker Apple

Samsung had been pushed to the second spot in the above-Rs 35,000 price segment.

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Amazon under Enforcement Directorate lens over FDI rule breach

The action follows certain observations made by a Delhi High Court bench last month about Amazon in the Reliance-Future Retail acquisition case

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Explained: How the iconic motorcycle Royal Enfield is getting personal

A modern classic, yet retro looking, the Enfield's basic form remains fairly simple and lends itself well to customisation.

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Airtel Safe Pay provides three-layer safety for a fraud-proof future

With Airtel Safe Pay transactions, money gets debited only after subscriber's nod

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Revival in realty, industrial segment to support Supreme Industries' stock

Strong demand for plastic pipes, higher value-add mix drive earnings upgrade

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Discoms should be consumer-centric, bring more pvt investment: House panel

One of the suggestions by the committee was increasing private participation in power distribution by way of content-carriage separation

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Reliance Jio looks beyond mobile operations to monetise digital platforms

With subscriber additions slowing, the price-competitive player is looking beyond its mobile operations to monetising its digital platforms. But that's where the competition is acute

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Acting head: Why is Deep Sidhu in news over violence at Red Fort?

Sidhu is the individual who planted the "Nishan Sahib" or the Sikh religious flag atop the Red Fort on January 26

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Reckitt Benckiser leads Rs 45 crore investment in Bombay Shaving Company

The coronavirus pandemic has accelerated the business for Bombay Shaving Company, which plans to scale its operations and cross Rs 150 crore top line by the end of this year

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Deluge of emerging market ETF flow slows last week, shows data

The slowdown came as some investors questioned the recent euphoria in risk assets

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Preliminary data from animal study shows immune response for ZyCoV-D

ZyCoV-D can remain stable at 25 degrees Celsius for months

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Bharat Biotech's Covaxin effective against Covid-19 UK strain: ICMR

The genome of the UK-variant has 17 mutations, eight of those were in the spike protein domain

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Oil prices steady with market structure pointing to tight supply

Saudi Arabia and Iraq are throttling back supplies next month as the OPEC+ coalition seeks to shore up prices against resurgent virus infections and new lockdowns

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Thriving in uber-uncertainty

Book review of Beyond Great: Nine Strategies for Thriving in an Era of Social Tension, Economic Nationalism and Technological Revolution

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Budget with a long-term view

Govt can approach the Budget 2021 with an aim to rebuild the economy to attain the long-term objective of sustained higher growth

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Raise revenues from improved tech-driven enforcement: KPMG to govt

To help resolve tax disputes, a majority of respondents feel that a mediation scheme should be introduced in the Budget to help in negotiating settlements.

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A potentially risky trade-off for markets

Sebi's proposal on concentrated holdings could disrupt the balance between the supervisory and business roles of stock exchanges

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Combating climate change

US must ensure that developed world does its bit

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Oil and gas companies seek pandemic relief in the upcoming Budget

The Centre had considered tax sops for exploration and production operators in May 2020

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Turnaround time

Early trends in corporate earnings hold out hope

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Focus on extending Covid help, invest in infra: IMF's Gita Gopinath

Says agri laws have potential to increase farmers' income

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India Cements reports Rs 62 crore in profit for December quarter

India Cements Ltd clocked standalone net profits at Rs 62.02 crore for the quarter ending December 31, 2020, the company said on Wednesday. The city-based noted industrialist N Srinivasan-led company had registered Rs 5.37 crore as net loss during corresponding quarter previous year. For the nine month period ending December 31, 2020 standalone net profits surged to Rs 150.41 crore as against Rs 75.56 crore registered a year ago. For the year ending March 31, 2020, the company had clocked standalone net loss at Rs 35.51 crore. Total income on a standalone basis stood at Rs 1,162.91 crore for the quarter under review as against Rs 1,194.42 crore recorded corresponding quarter last fiscal. For the nine month period ending December 31,2020 standalone total income slipped to Rs 2,998.68 crore from Rs 3,915.36 crore registered in the same period last year. For the year ending March 31,2020, standalone total income was at Rs 5,085.28 crore. The COVID-19 pandemic situation

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Marico Q3 net profit rises 13% to Rs 312 cr; revenue up 16% to Rs 2,122 cr

The company had posted a net profit of Rs276 crore in the October-December quarter a year ago.

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Axis Bank's net profit drops 36% in Q3 due to higher provisions

Provisioning cost rose 33 per cent year-on-year; proforma gross NPA at 4.55 per cent

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Wednesday, January 27, 2021

From rice husk to 24x7 power, Husk Power aims to continue upward journey

Husk Power Founder Manoj Sinha says the fall in prices of solar energy allowed them to offer reliable power at reasonable rates

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Govt mulls revenue dept restructuring; CBIC, CBDT to focus on collection

People in the know said the government was examining measures like the strengthening of the Central Economic Intelligence Bureau (CEIB)

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Serum Institute looking at bilateral deals to supply Covishield vaccine

To raise manufacturing capacity by 30% over next 2 months from present 2.4 mn doses

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Tax sops over subsidies: Why PLI scheme doesn't enthuse India Inc

Local sourcing of components and state monitoring keep firms away from production-linked incentives

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Class, finesse and performance: New A4 gets Audi back in the race

The sedan could challenge luxury car market leaders BMW and Mercedes-Benz

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Saral Pension promises higher liquidity than existing plans: Details here

Surrender, loan options will encourage those wary of illiquid annuities

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Decoded: Stopping Future's asset sale to Reliance may not be easy

In its petition, Amazon is said to have sought imprisonment of Future group promoters including Kishore Biyani for alleged violation of securities market rules

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Oil refiners on the margin amid rising crude prices, muted demand

Indian majors have to balance between rising crude prices, muted demand and heavy central and state levies on retail prices

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Indian Railways drops extra charges for large goods moving through DFCs

This is a significant shift because the restrictive goods consignment dimensions are cited as one of the reasons for the falling utility of rail freight

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RBI's NBFC paper silent on liquidity management, says India Ratings

The paper has not said whether the cash reserve ratio (CRR) and statutory liquidity ratio (SLR) will be applicable to upper layers of NBFCs

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Govt plans incentive for starting production early from auctioned mines

The mines ministry plans to do the same through amendment of the mining rules and has sought comments and suggestions from stakeholders on the same.

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Govt may announce steps in Budget to promote e-commerce exports, imports

Finance minister Nirmala Sitharaman will unveil the Budget for 2021-22 on February 1.

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Indian male in his habitat

Book review of Patriarchy and the Pangolin: A Field Guide to Indian Men and Other Species

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Forex crisis to Kargil War: Yashwant Sinha's Budget events and revisions

Sinha's Budget 2002 also saw the maximum rollbacks; he went back on some five Budget proposals

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Having your cake and eating it

The relative underperformance of PSU shares in the market reflects all that is wrong with the current ownership and governance structure

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An expansionary consolidation

The Budget can generate an expansionary fiscal impulse even as it consolidates the headline deficit

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Address the K question

Uneven economic recovery will not be sustainable

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No more concessions

Farmers' intransigence, invasion of Delhi are unacceptable

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Akash NG surface-to-air missile scores in maiden Republic Day eve test

The new generation surface-to-air missile, engineered to shoot down high-performing fighter aircraft, was test launched at Balasore

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Stocks and futures dip on US fiscal-relief package timing; dollar up

A gauge of Asia-Pacific equities at one point slid the most in about two months, with shares in South Korea and China underperforming

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Republic Day 2021: India puts its military might, cultural heritage on show

The contingents only marched a distance of 3.5 km instead of the usual 8.5 km, and for the first time in 55 years, no foreign dignitary attended the January 26 parade

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Debt alternative investment funds investors lower return expectations

AIFs are privately pooled investment funds approved by the capital markets regulator Securities and Exchange Board of India for different categories of asset classes

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Budget Byte: Banks' non-performing assets likely to bulge in 2021

This daily series of graphs provides context to some of the critical issues relating to the Union Budget on February 1

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Changing dynamics: Bears merely less bullish in today's stock market

"You hold your nose and you buy," David Kudla, chief investment strategist at Mainstay Capital Management, said in an interview on Bloomberg Television. "Stocks have been divorced from fundamentals."

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Labour codes: Reform 2.0

Economic reforms require expending political capital by the governments, as the benefits of reforms are spread thin and become apparent only with a time lag

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Tuesday, January 26, 2021

Direct tax compliance set to be made easier in upcoming Budget

Budget may resolve issues related to administration

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RBI open to digital currency, examining the need to introduce CBDC

A CBDC is legal tender and a central bank liability in digital form denominated in a sovereign currency and appearing on the central bank's balance sheet.

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Govt missing the perfect opportunity for PSU privatisation: Experts

Say Centre should push PSU share sale as markets hit record high

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Capitalise PSBs, create bad bank to absorb NPAs, says financial sector

Rating agency CARE Ratings said, given that bank credit growth would be higher in FY22 than in FY21, incremental credit would be Rs 10-11 trillion

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Don't withdraw from the NPS corpus unless you are facing an emergency

While new online facility will make part withdrawal convenient, subscribers must exercise restraint

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Investors bet big on Adani Green, but risk-reward outlook is open question

Share of AGEL, which is into solar and wind power, jumped over six times in 2020 versus a gain of 10% for the NSE's Nifty 100 Index - the first and only green energy company to do so in India

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Pfizer wants India to order Covid-19 vaccine before pursuing nod

Pfizer says its application is supported by data from a global study that shows an overall efficacy rate of 95% with no vaccine-related, serious safety concerns

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Covid-19: Unemployed supertankers are about to get junked on Asia's beaches

On Wednesday, daily earnings for supertankers sailing on the benchmark Middle East to China route were -$1,190, according to figures from the Baltic Exchange in London

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In India's K-shaped economic recovery, keep a watch on middle-income groups

India's better-than-expected recovery story was scripted by households, and not government spending or private sector investments

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Third of staff may work from home permanently post-Covid: Deloitte report

The survey of more than 2,000 managers and public-sector business leaders worldwide highlights how investments that allow home-working will be increasingly important

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Dr Reddy's, Zuventus get nod to conduct Covid-19 trials on repurposed drugs

NeuroRx and Relief Therapeutics have partnered to develop a drug called RLF-100 that has anti-inflammatory and anti-cytokine activity properties.

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Covid far from over, but winter cannot stop arrival of spring: Xi Jinping

Signaling no change in China's course, president warns against Cold War

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Wealth of Indian billionaires increased by 35% during lockdown: Oxfam

Calling the coronavirus pandemic the world's worst public health crisis in a 100 years, the report said it triggered an economic crisis comparable in scale only with the Great Depression of the 1930s

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Google unions form global alliance representing 20 million employees

Alpha Global will fight for the rights of full-time Alphabet employees as well as temporary, vendor and contract workers, UNI Global said

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Infosys, TCS join global initiative by WEF to end racism at workplace

The founding members include 48 organisations representing 13 industries, with more than 5.5 million employees worldwide and headquarters in three continents

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Neelachal Ispat Nigam, partly owned by Odisha govt, to be privatised

The interested bidders should have a minimum net worth of Rs 2,000 crore

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Delhi may be heading towards herd immunity, indicates sero-survey

The survey has found that in one district, 50-60 per cent of the sampled population has developed antibodies to Covid-19, sources said

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Govt asks states to take penal action for vaccine-related rumour mongering

Home Secretary Ajay Bhalla, in a letter to chief secretaries of all states and union territories, has asked for an appropriate mechanism to be put in place to check the spread of ill-informed rumours

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Monday, January 25, 2021

Firms' next challenge: Handling staff refusing to take Covid-19 vaccine

Top European biz group with representation from top firms to approach govt for guidelines

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Tata Sons-owned AirAsia India set to spread wings, lease 10 new aircraft

Tata Sons' focus on ramping up low-cost carrier biz has raised airline's confidence

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NBFC norms will check regulatory arbitrage, support growth: Experts

An analyst with a rating agency said the regulation should be ownership neutral and avoid special treatment

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Govt likely to set up Pradhan Mantri health fund in upcoming Budget

Centre, states to contribute to meet higher public spending target

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May need to reverse Rs 800 cr in interest income: YES Bank's Prashant Kumar

A back-of-the-envelope calculation says interest reversal will be to the tune of Rs 700-800 crore in that particular quarter, says Kumar

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BSNL-MTNL merger shelved as GoM says not feasible; Cabinet to meet soon

Move to merge may erode BSNL value, say officials

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Atmanirbhar farm schemes may get boost in Budget amid farmers' protest

There could be a road map for further reform in the farm sector, particularly on the input side, say sources

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Budget 2021: Super agency to probe financial sector frauds on cards

Move, proposed by CII in Budget wish list, could enhance ease of doing biz

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India leads the mobile-first consumer economy amid Covid-19, shows data

While Covid-19 catalysed several trends, it most importantly fast-tracked the transition to a mobile-first world.

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Discoms discover tech, aim to automate grid operations for service delivery

Adani Electricity Mumbai (AEML), for instance, is upgrading its grid infrastructure with investments in automation and using technology-enabled service delivery, processes and training modules

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Statsguru: Informal sector plays important role in India's labour market

About 13.5 per cent of casual workers (who probably earned daily or weekly but had steady incomes) became self-employed in that period

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Soap war: HUL counters Sebamed pH campaign on suitability for skin

Says overall composition of soap matters, not its pH value; Sebamed says new vocabulary

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Delhi Police flags threat to farmers' tractor rally on January 26

Says more than 300 Twitter handles created in Pakistan to disrupt farmer rally

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When animals can be poison

A notable feature of the emerging trend is the preponderance of infections transmitted to humans from animals

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The bottleneck of govt contracting

The path to progress lies in first building a mature research process and developing a community of practice

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Biden could revive but not reset WTO

Calls for reforming the WTO grew louder even before Donald Trump took centre-stage in the US

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Govt may announce formulation of policy for toys sector in Budget

Quality control order is one of the ways to stop flow of cheap sub-standard toys into the domestic market.

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Strengthening regulation

Growth of NBFCs needs better supervision by RBI

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Correct course on tariffs

Union Budget must avoid failed strategy of protectionism

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Budget Byte: Education scheme 'Samagra Shiksha' expenditure fell in 2020

This daily series of graphs provides context to some of the critical issues relating to the Union Budget on February 1

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Hyundai makes a 'Smartivity' move to take on rivals in SUV market

The car-maker grew market share marginally, thanks to an early focus on 'smart mobility' but it's in the competitive and fast-growing SUV market that this strategy will be truly tested

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Govt's Co-WIN app to track both Covid-19 vaccine and its recipients

Experts say technologies such as IoT, AI, machine learning and blockchain play a key role in tracking these vaccines and detecting any changes

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Fraud in fintech being fought with regulatory tech

It has been estimated that more than 1,200 lending apps are active in India. While some have been shut down or removed from Google or Apple platforms, others can pop up with frightening speed

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Can we bank on the Budget?

The onus of reigniting India's growth engine is on the banking system. Will the Budget fuel it

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IT sector biggest contributor to India Inc dividend pool in the past decade

The average payout by the 186 companies in the past decade had been 41% and annualised returns for their stocks had been 8%.

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Home First Finance IPO: Strong growth prospects justify higher valuations

Most analysts believe the company has a long growth runway given its small size and the niche market it caters to

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Faster withdrawal of global stimulus can impact markets: Vetri Subramaniam

Without a doubt, fiscal and monetary support across geographies have contributed to this outcome, says Subramaniam

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Karnataka chief minister B S Yediyurappa faces fresh rebellion wave

Those who crossed over to the BJP, enabling it to form the government, have got the lion's share of ministerships

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Street signs: Passive boost for equities, NSE consolidates position & more

The grey market premium (GMP) for the maiden offerings of Home First Finance and Stove Kraft is in excess of 25 per cent, said market players

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US will have to keep in mind broad strategic ties with India: Navtej Sarna

Though Trump's policy on China is likely to continue, the sharp rhetoric will be missing, says Navtej Sarna, former ambassador to the US and high commissioner to the UK

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Is BJP losing the plot in Maharashtra? Recent panchayat polls suggest so

Although the rural body elections were not fought on party symbols, going by the backing that the panel of candidates received, the MVA won a majority of the panchayats

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Commercial vehicle recovery may gather speed in FY22, say analysts

Besides Ashok Leyland, a slew of auto component makers will likely gain from volume growth

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Only 7% of MPs in current Lok Sabha claim to be farmers, majority from BJP

This is in sharp contrast to the 15th Lok Sabha between 2009 and 2014 when 27% of the MPs claimed that they were farmers

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Sunday, January 24, 2021

Store charging for carry bag is unfair

Shops can't forbid customers to bring in their own bags and then charge them for carry bags

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Saturday, January 23, 2021

Indian lawmakers keenly watching Facebook board's decision on Trump ban

The Parliamentary Committee also asked if the platforms have the right to take down or suspend accounts.

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Fate of budget private schools hangs in the balance as they wait to reopen

Hit by non-payment of fees, schools fear that many students will not return

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CapitaLand, Shapoorji Pallonji's PE arm to foray into data centre business

Such centres to witness $5 bn in investments till March 2025 and increase threefold in capacity: Crisil report

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Capex plans alive even during Covid-19; BSE100 firms add Rs 55K-cr assets

BSE100 firms add Rs 55K-cr assets amid pandemic, per Deloitte-Business Standard analysis

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Flipkart's subscription model is a good offering: Here's how it works

However, offer does not suit users who switch plans often or do not handle their phones well

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Infamous for manipulating polls, Cambridge Analytica is a non-entity today

On Friday, CBI registered a criminal conspiracy case against Cambridge Analytica and Global Science Research for illegally harvesting personal data of Facebook users in India

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Luxury carmakers mark India return after touching decade low in 2020

With over 50 new launches this year, super-premium marques are taking a calculated bet on the Indian market that touched a decadal low in 2020

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Not a starry moment for Narayanasamy

Mr Narayanasamy could be in trouble as Puducherry, along with Tamil Nadu, goes to the polls in April-May

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Shekhar Gupta: Why Modi is in retreat on farm laws

Farm reform could've been high point of Modi's second term. But lack of patience, understanding and contempt for history have turned it into a disaster

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Royal Enfield's wheels of fortunes

Book review of Indian Icon: A Cult Called Royal Enfield

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With talk of an IPO in the air, Falguni Nayar shares her Nykaa journey

Beauty, Nykaa's founder Falguni Nayar realised, is a very long-tailed business and with e-commerce picking up in India, it seemed like a good idea to venture into

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Bharat Biotech's Covaxin has tolerable safety, says Lancet study

Sharing the interim findings, the paper said that the vaccine was well tolerated in all dose groups with no vaccine-related adverse events

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India plans to supply coronavirus vaccine to six countries, says MEA

MEA Spokesperson Anurag Srivastava said that India has so far sent consignments of coronavirus vaccines under grant assistance to Bhutan, Maldives, Nepal, Bangladesh, Myanmar and Seychelles

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No politics, followed scientific advice on Covid-19 vaccine, says PM Modi

In an interaction with beneficiaries from his constituency, PM assures both vaccines safe

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Covid vaccine: How to ensure equitable distribution

We need equity, not equality, in vaccine distribution, and that is maintained in India's plan with some sort of emphasis on the risk factor and also due recognition of the importance of health workers

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Reliance Retail Q3 revenue declines 9.7% to Rs 33,018 crore; profit surges

Yearly numbers are not comparable, RIL said, since the petro retail business, which makes up 40 per cent of the company's retail revenues, has been demerged

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Wall Street slips as IBM, Intel falter after results; Dow falls 160 points

The Nasdaq Composite gained 0.76 points to 13,531.18, helped by a rise in shares of Microsoft Corp and Facebook Inc.

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Oberoi Realty Q3 PAT nearly doubles on uptick in Mumbai Metropolitan Region

Cut stamp duty and other levies last Calendar year spurred buyer interest; company's revenues up 56%

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Trusts and societies have till April 1 to register with MCA under CSR rules

CSR rules notified by MCA; multi-year projects allowed with a time-limit of three years

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Reliance Jio net profit rises 15.5% to Rs 3,489 crore in December quarter

Jio Platforms, which provides digital and telecom services, had posted a net profit of Rs 3,020 crore in the previous quarter

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Friday, January 22, 2021

Telcos miffed about new communication security certification rules

Say new security testing norms for mobiles, telecom equipment will increase costs

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Budget 2021: Govt stares at revenue shortfall of Rs 7 trn this fiscal year

Revenue from disinvestment has fetched Rs 40,000-50,000 crore against target of Rs 2.10 trillion

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Budget 2021: Go for bond, not cess to fund Covid expenditure, say experts

The amount raised through these bonds would not be high since domestic borrowing will exert pressure on yields.

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Expecting a rebound in health services: Ayushman Bharat CEO Indu Bhushan

The scheme was launched in September 2018 and every quarter we were going up in a big way, says CEO Bhushan

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OTT platforms tying up with telecom companies to expand their market

According to industry estimates, the number of screens in the country would hit 1 billion to 1.1 billion by 2025

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Consumer goods companies feel margin squeeze on raw material cost

After the initial spurt in demand after lockdown, manufacturers were hoping for a smooth run in the next few quarters

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The iconic, incredible scooter Lambretta rides into the Indian sunset

Centuries of colonisation had sapped the Indian economy of its riches and cars were not an option. Scooters were.

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IDBI Bank takes prompt corrective action; all eyes now on Q3 results

The lender has stabilised under LIC ownership, but its exit from the central bank's restrictions may be some time away

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A captain working in stealth: Ajinkya Rahane shows grace under pressure

As Rishabh Pant and Washington Sundar were in the midst of pummelling the Australian bowlers and steering their team to an unlikely win, India's stand-in captain cut a figure of implausible poise

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Decoded: What are the reasons behind the bull run as Sensex hits 50,000?

Sensex moved up 20 per cent in the last 12 months since January 2020.

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Montage of a Bollywood legend

Book review of A Patchwork Quilt: A Collage of My Creative Life

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The gyroscope of corporate governance

Lessons from political governance are instructive even for corporations

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Why it's time to rethink protests

Far from being an annoyance, mass movements are the only legitimate way of engaging the government today

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Cabinet approves closure of loss-making Scooters India, says report

The company that manufactured famous scooters like Lambretta and Vijai Super will be shut down after the Cabinet gave its nod to a proposal to close the loss-making state-owned firm, sources said. The Cabinet Committee on Economic Affairs (CCEA) is believed to have given consent to shutting down of Lucknow-based Scooters India Ltd at its meeting on Wednesday, they said. The Scooters India brand name shall be sold separately as the company holds famous brands such as Lambretta, Vijai Super, Vikram and Lambro, shared an official. The company produces several types of three-wheelers under the Vikram brand. The government's go-ahead to the closure proposal paves the way for the Heavy Industry Ministry to begin the process of winding up of the firm. As per the proposed plan presented to the Cabinet, Rs 65.12 crore required for closure of Scooters India Limited is being sought as loan with interest from the Government of India, sources said. The proposal also entails offering voluntary

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Back to the future

Joe Biden's presidency starts on a challenging note

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A roaring rally

Investors should not lose sight of fundamentals

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Kunal Shah backs OnePlus co-founder Carl Pei's consumer electronics company

Carl Pei, the Swedish tech entrepreneur, is working on a stealth project that he plans to unveil this month

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Confidence in western QSRs remains intact, says Westlife's Amit Jatia

Month-on-month the business has been getting better, as the government relaxed restrictions

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Planning 10 products every year, focus is on premium: Hero MotoCorp CEO

Pawan Munjal, Chairman & CEO of the company, says strengthening premium segment will be the top focus.

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Thursday, January 21, 2021

Wockhardt, IIL discuss manufacturing tie-up with US vaccine major Moderna

Around November, IIL had indicated that it was open to discussions with the US major.

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Cricket hits an advertising six after India's historic win in Australia

Ad rates for upcoming India-England series up 10-15%

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Govt plans to lift cap on flights, wants airlines to fly full capacity

Except IndiGo, airlines resist lifting of cap as traffic uncertain

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Federal Bank's Shyam Srinivasan is Business Standard Banker of the Year

Five-member jury chooses him for consistency of performance

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Profits had been falling for Jagan Mohan Reddy family cement firm

Bharathi Cement, part-owned by AP chief minister's family, faces allegations of getting bulk of state govt orders

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Facebook plans aggressive outreach to allay fears of WhatsApp users

This includes ads, interactions with large user groups, government

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Godrej plans to foray into co-working spaces through fund management arm

GFM has five million square feet across office properties in Mumbai Thane, Gurugram, Pune and Bengaluru

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Term plan ownership is rising, but savings rule amid Covid-19 pandemic

Buying term plan under the Married Women's Property Act can ring-fence the compensation from creditors

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Next round of coal auction to have only small and medium-sized mines

The mines won't have legacy or legal issues as the Centre is trying to make the process as seamless as possible

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A glorious and lucrative future awaits for India's new star Rishabh Pant

Now the world's highest-ranked wicketkeeper-batsman, Pant has shown he's one to deliver

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In premium watch segment, tried & tested is still ticking for buyers

While business slowed down, Rolex, Panerai and Rado continued to clock sales

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Allocation for Jal Jeevan Mission may be doubled in upcoming Budget

Ministry hopeful of uptick in activity; may take Rs 12k-crore loan from Nabard

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Tata versus Mistry: Lenders hold out hope on Supreme Court verdict

While SP group sources said the verdict and debt rejig plans are unrelated, lenders said the group will be able to raise substantial sums if the SC allows it to pledge its shares in Tata Sons

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Online retail majors focus on sprawling small retailer base to boost reach

Small retailers are chary about integrating digitally with larger players on grounds that it will give them access to their customer bases

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Treasury bill yields start inching higher on liquidity normalisation

RBI last week stepped into normalise its ultra-loose liquidity policy by introducing a Rs 2 trillion 14-day reverse repo auction.

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Inadequate cover

Five years on, PMFBY still suffers from multiple flaws

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About 800,000 vaccinated by fifth day, on-spot allotment for jab allowed

Provisional vaccination certificate for first dose, followed by a final certificate after the second

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Improving revenue growth trajectory key for Tata Communications stock

Street will also keep an eye on margins as marketing costs start to impact profitability

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Feasible fiscal path

Quality of expenditure shouldn't be compromised

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Pranab's long speech to Budget documents: Here're India-specific snippets

The record for the longest Budget speech - 160 minutes -is held by Finance Minister Nirmala Sitharaman

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Budget session: PM Narendra Modi to chair an all-party meeting on Jan 30

Parliamentary Affairs Minister Pralhad Joshi said the meeting will be held virtually and an invitation has been extended to floor leaders of all parties

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From Hawick to Hawick: The story of The Economist founder James Wilson

The life and times of The Economist founder who presented India's first Budget in 1860

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Ola to build Rs 2,400-crore EV manufacturing facility with Siemens

To set up global AI-powered facility in Tamil Nadu, according to a prior deal

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The Year of the Renminbi?

China has been the world's largest trader since 2013, its economy is now larger than that of the US in purchasing power parity terms, and soon it will pull ahead in terms of market exchange rates, too

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End of Netflix's cash bonfires in sight as it nears turning profitable

Netflix stunned investors Tuesday by announcing that it's "very close" to becoming a true cash-flow-generating company and that it no longer needs to borrow to finance its day-to-day operations

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CCI okays Flipkart's Rs 1,500 cr stake in Aditya Birla Fashion and Retail

Amazon and Flipkart can't directly acquire assets under FDI rules, so they are doing smaller strategic stake deals with offline retailers, hoping to acquire offline assets when rules change

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Charges of having preferred sellers baseless: Amazon Lawyer to Karnataka HC

The High Court is hearing the petition filed by CCI for the probe against e-commerce firms Amazon and Flipkart. The matter will be heard next on January 21, 2021

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Companies call for demand creation and income tax relief in Budget

Only 28 per cent in Ficci survey are for fiscal consolidation

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Wednesday, January 20, 2021

RBI working committee in favour of setting up NPCI-type agency for fintechs

RBI panel favours new structure for better supervision

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Glitches in Co-WIN are minor, new system to work like RAC: R S Sharma

R S Sharma, who chairs the empowered committee on technology for Covid vaccine, spoke to Nivedita Mookerji on what went wrong with Co-Win during the first few days, the scale-up exercise, and more

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NBHC plans to start an electronic market platform outside the mandis

This will complement its growing network of NABL-accredited quality testing and assaying labs along with existing storage infrastructure

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Budget 2021: Consumer durables makers seek respite from inflation, taxes

Retailers Association of India (RAI) has demanded certain measures that it believes will help improve the overall consumer goods industry.

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Govt may bring regional rural banks under a holding company in Budget

Move would improve governance, help lenders raise equity from the market

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How green are EVs? Long, winding road ahead for electric cars in India

The electric vehicle evolution in India's passenger vehicle market has remained frozen in time

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Investors should rebalance exposure to US-focused funds; don't exit

Profits booked in these funds should be deployed in a diversified EM fund

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Regulate all online skill games, not just fantasy sports: Sameer Barde

Sameer Barde, CEO, The Online Rummy Federation, tells Dhruv Munjal that a common regulatory body is a must, while arguing that the negative perception around real-money games in now changing

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In fight for Bengal's vote, debate on state's economy goes beyond Singur

With Assembly elections looming, the Trinamool Congress is highlighting its industry-friendly tag as the Bharatiya Janata Party vows to transform the state into an investment paradise

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Spike in fertiliser sales boosts prospects for Coromandel International

While rabi season drives hopes of a strong Q3, analysts are hopeful of strong growth over the next two years

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Public hearing on Adani's revised master plan for Kattupalli port deferred

The company applied for environmental nod for a Rs 4,000 cr port and harbour project that is part of a Rs 53,400 cr master plan

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SBI, ICICI Bank, HDFC Bank remain systemically important banks, says RBI

SIBs are subjected to higher levels of supervision so as to prevent disruption in financial services in the event of any failure.

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BARC has a history of ratings pauses, latest being the fourth in six years

First suspension was in April 2015 when those subscribing to television viewership data were asked to switch from TAM, the erstwhile television measurement agency, to BARC

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Sensex, Nifty soar 1.7% on US stimulus hope; HDFC, RIL and ICICI Bank gain

Indices recoup most of the losses of last 2 sessions

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High Courts serve notice on Centre over IGST rebate by exporters

Exporters were earlier entitled to import raw material without payment of IGST under the AA licence

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'Decoding' the Bhagavadgita

Book review of The Bhagavad Gita for Millennials

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India must remain integral part of global economy, says Amitabh Kant

According to the Niti Aayog CEO, post-Covid-19 pandemic, only those countries will grow who will use digital ecosystem.

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Start-up's flights of fancy

India's first home-grown messenger app Hike shut down and vanished from app stores on Monday

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India and smug mediocrity

Indian democracy is equating excellence with elitism

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Powering mobility

Big push for charging infrastructure is a must for EV penetration

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A poor idea

Bad bank will only kick the can down the road

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IRFC's Rs 4,600-crore IPO subscribed 1.22 times on the second day

The offer received bids for 1,52,64,04,775 shares against 1,24,75,05,993 shares on offer, as per the data available with NSE

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HFFC's IPO to open on January 21; price band at Rs 517-518 a share

The IPO aggregating up to Rs 1,153.71 crore comprises a fresh issue of up to Rs 265 crore and an offer-for-sale aggregating up to Rs 888.71 crore by promoters and existing shareholders, the firm said

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Apple supplier Pegatron Corporation leases 500,000 sq ft in Tamil Nadu

Pegatron will be the second contract manufacturer to assemble Apple iPhones in Tamil Nadu, after Foxconn

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Portents after the vaccine rollout

Since the lockdown in March last year, a large section of the legal profession and litigants has found that virtual courts (VCs) are a beneficial innovation and should be institutionalised

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Vedanta Resources settles copper mine pollution claim in Zambia

The claim, centering on pollution from the Nchanga Copper Mine, was brought by more than 2,500 Zambian villagers against KCM

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Sebamed gets relief from Bombay HC in ad war with Hindustan Unilever

Bombay HC permits campaign to run with some modifications

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Tata Communications Q3 PAT sees 5-fold jump at Rs 309.41 cr on lower costs

The company said it had seen stable growth in data business despite it being a seasonally slow quarter with revenue growing 3.8 per cent y-o-y on the back of robust performance in traditional services

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Tuesday, January 19, 2021

Udaan plans to grab 10-15% of overall B2B retail market in the next 7 years

The B2B market (excluding industrial goods) stands at $780 billion and on an annualised basis, Udaan has already clocked up $2.4 billion in gross merchandising value

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Budget 2021: Special window for big-ticket foreign investments likely

Facility to be available for FDI proposals worth over Rs 3,000 cr

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Senior citizens: Strike a balance between tax saving and liquidity

They must also maximise the utilisation of the higher deductions available to them

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How emerging uptick in commodity prices spells good news for Indian firms

A key reason the upswing in the commodity cycle is likely to help India is the relative performance of the dollar vis-a-vis the rupee

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States urge FM Nirmala Sitharaman to raise fiscal limit in Budget

Another state finance minister said it was made clear that the Union Budget must announce something major with regards to state finances.

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New product launches to drive growth for Lupin, US business a key trigger

This should reverse the US underperformance in FY15-20 with margins too moving up sharply

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Monday, January 18, 2021

Management by algorithm? How businesses should work in the AI era

It is time we reimagined management education in a way that students build an understanding of AI, its usage and application in business, all the while honing their soft skills

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Traditional education needs a rethink as Covid accelerates ed-tech adoption

Perhaps the most exciting opportunity for MBA programmes will be to craft a life-long experience for its students rather than one limited to one or two years

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Ready for a reboot: How B-Schools can adapt to the new normal amid Covid-19

The pandemic has been a period of serious rethinking at all B-schools

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What we need to do is prepare our B-school students for an uncertain future

Softer skills are the subjects critical for success today. They will lead to implementation of bright ideas by the brightest minds, teamwork, collaboration and entrepreneurship

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Management education in India is poised for a major transformation

This overhaul is likely to comprehensively reform the design, content, and delivery of management education in the country

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Excellent or poor? Here's how to read the ratings of business schools

The final ranking of the business schools that have participated this year has been obtained by arriving at a weighted composite score comprising the audit index and the perception index

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What should keep you awake if you're a fresh MBA or planning to go for one?

For one, stop treating your B-school as a glorified placement office

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Open to opportunities of paring stake in IDBI Bank: LIC's Vipin Anand

An increase in economic activity since the unlock process started in June has resulted in an uptick in the business performance of LIC, says LIC MD Vipin Anand

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At $43 mn each, Hindustan Aeronautics' Tejas Mark 1A seeks export market

At Rs 315 crore ($43 million) per fighter, the Tejas Mark 1A would be a viable competitor in the international market for light fighters. It would be less so if taxes took up its cost to Rs 385 crore

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Short-term interest rates increase 25-30 basis points, shows data

The reason why short-term rates have spiked is liquidity normalisation

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Budget 2021: Govt likely to target fiscal deficit at 4% of GDP by FY26

Centre to deviate from long-standing medium-term target of 2.5-3% of GDP

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The A is now The Quorum: Rana Kapoor family-led business club changes hands

The Quorum in Mumbai aims to introduce and extend its blend of hospitality and philosophy of being community-led, content-driven, design-focused and experiential.

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Legal hurdles await DHFL resolution process; lenders meeting today

Lenders meeting today to press for better share in recoveries from frauds

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WhatsApp defers privacy terms for three months but Signal still on top

According to Sensor Tower's data, BiP ousted WhatsApp from the number three spot amongst communication app downloads on January 15

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Food chains, multiplexes plan expansion as consumer confidence picks up

Organised players have been the biggest beneficiaries after the lockdowns were lifted

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Firms rush for vaccine liability cover as India kicks off vaccination drive

Insurers, too, have sought support for such coverage from India's largest reinsurer GIC Re. ICICI Lombard & New India Assurance have got support of $5 mn against risks

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Exports of Covid-19 vaccines may start in 2 weeks: SII CEO Adar Poonawalla

The vaccine manufacturer is making preparations and working on necessary regulatory protocols

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Stiff targets for PSUs: How they are caught between govt and markets

State-owned companies have been set stiff targets to increase accountability as they get ready for disinvestment. Here's why meeting them will be challenging

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Statsguru: Bank lending in the slow lane amid Covid-19 pandemic

In a period of slowing credit growth, only PSUs have sequentially borrowed more, and that too, only from private banks

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The zero MDR has affected the PoS business: Worldline's Deepak Chandnani

India has some 5.2 million PoS units, but a country of our size needs more, DEEPAK CHANDNANI, managing director, Worldline (South Asia and the Middle East), tells Raghu Mohan

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India Inc's big boys: Share of large borrowers on banks' books decline

However, large advances in the SMA-0 (special mention accounts) category registered a quantum jump (155.6 per cent) over the previous quarter and 245.6 per cent over March 2020 levels

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Parliamentary panel summons Facebook, Twitter officials on January 21

Earlier, the committee had summoned Facebook's India head Ajit Mohan over the issue of political bias on the social media platform

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Relaxed norms to help MSMEs get AEO recognition

At present, there 791 entities with AEO-LO recognition, 3,206 parties with AEO-T1 recognition, 581 parties with AEO-T2 recognition, and 20 parties with AEO-T3 recognition

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Budget 2021-22 wishlist: Here are the key challenges in retail sector

Inadequate physical, digital infrastructure affecting efficiencies in supply chain management

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System strengthening: Northeast states lead in power supply infra push

Under system strengthening, which entails construction of last mile power supply infrastructure, the physical progress is 86 per cent in the region

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Budget Byte: Farmer income support nears target, but gap remains

This daily series of graphs provides context to some of the critical issues relating to the Union Budget on February 1

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Low turnout for the shot as six states vaccinate 17,000 on Sunday

Many adoopt wait-and-watch approach as confidence about safety and efficacy of the jab is low

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This Budget, two roads diverge

Govt has so far been restrained and sensible in pandemic response. Budget must not throw away that effort

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The nation needs to know

Arnab Goswami's purported claims must be investigated

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A mammoth effort

Issue of public trust in the vaccines must be addressed

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Farmer unions firm on Republic Day tractor march; SC hearing on Monday

The top court would also hear on Monday a plea of the central government, filed though the Delhi Police, seeking an injunction against the proposed tractor march

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Broking industry in bitter-sweet spot with yields sliding, revenues rising

Revenues during the same period have grown from Rs 760 crore to an estimated Rs 1,330 crore for this financial year

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IRFC IPO: Minimal risks and reasonable pricing make the offer attractive

Priced at Rs 25-26 a share, IRFC's nearly risk-free model positions the initial public offering as a safe bet for investors

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Large-caps will continue to lead rally: Avendus Capital's Andrew Holland

Valuations appear high in some sectors as a small number of stocks dominated the index last year, said CEO Holland

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Bright outlook but valuation high for Indigo Paints, say analysts

Indigo has been consistent in coming out with products that create a new category as well as offer niche products in existing categories

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Banking: Yesterday, today and tomorrow

With the customer spoilt for choice, the option for the banking industry in the new decade is between going digital or dying

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Street signs: Rising VIX sets alarm, new aspirants for MF licence & more

The fear guage has risen 22 per cent this month and is currently at 24, a level approached only a few times in the past six months

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Tracing the broad spectrum of NGO foreign funding ecosphere in India

According to FCRA, NGOs are only eligible for FCRA registration if they have been in existence for at least three years

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BJP looks to increase seats in Uttar Pradesh Council elections this year

In the December 2020 polls for 11 seats, the BJP won six, while the SP and Independents scooped up three and two seats, respectively

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From backroom boy to JD(U) president: RCP Singh's political journey

RCP Singh is unlikely to be more than just a go-between. Maybe the JD(U) will take on a new orientation with RCP in charge

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In the hot seat, Bihar chief minister Nitish Kumar faces turbulent weather

Tensions between the allies flared up after six of the seven JD(U) legislators in Arunachal Pradesh joined the BJP.

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Sunday, January 17, 2021

The new playbook: RBI steps in to stem the nexus between banks and fintechs

With the RBI red-flagging mushrooming of digital apps, the tango between banks and fintechs may be in for a big change, report Hamsini Karthik and Raghu Mohan

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Brace for selective interest in stressed assets

With looming uncertainty, investors will be very selective, cautious and careful in allocating funds towards this asset class

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Immobilise unregistered digital lending apps

Forget lack of faith, there is fear of the law enforcement machinery even among educated, sophisticated, middle-class people

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Saturday, January 16, 2021

Decked up for first day, first shot: All eyes on Covid-19 vaccination drive

The hectic preparations in the capital city resembled action at any wedding venue, according to a health worker in the midst of it all

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DHFL's long-drawn journey to resolution: Here's the story so far

DHFL's fall not only exposed the chinks in Indian auditing firms, but also showed the flaws in rating companies, which gave it the highest rating

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Confident of staying in the 5G race, says Huawei India CEO David Li

The Shenzhen-headquartered firm, which has been facing the fallout of the ongoing geopolitical situation, believes it would continue to participate in India's telecom journey

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Budget 2021: Highways ministry seeks nearly 40% hike in FY22 allocation

The allocation has gone up from Rs 83,015 crore last fiscal year to Rs 91,823.2 crore for the current year

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Strike a deal quickly as home prices likely to head north in 2021

A recent report from Jefferies says a new cycle could begin this year as both end users and investors reenter the market

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Budget 2021: Gross tax revenues likely to get back on track in FY22

Gross tax revenues may be projected at around Rs 23.65 trn in the Budget, back-of-the-envelope calculations suggest

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Covid-19 vaccination drive begins today; all you need to know about it

Under the emergency use authorisation, the vaccine is only for those above 18 years of age

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Covid vaccination drive: India well prepared to store, distribute vaccines

India has about 29,000 cold chain points, 1.6 million shipper boxes, 76,000 cold chain equipment, 700 reefer vans and 55,000 cold chain handlers

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States rush to complete frontline worker surveys ahead of vaccination drive

Also wait for instructions from the Centre on the second phase of the drive

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Unfair to judge Guru Dutt by today's standards, says Yasser Usman

Yasser Usman, author of Guru Dutt: An Unfinished Story, speaks to Chintan Girish Modi on Guru Dutt's life

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Talks with Byju's on, but could take several weeks: Aakash Educational MD

Talks for a partnership with Indian unicorn Byju's reflect several prescient moves by this second-generation promoter

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Second-hand car business on high speed in India amid Covid-19 pandemic

The pandemic has accelerated the second-hand car business to the point of a demand-supply imbalance

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Law of the land

In 21st century India, the courts may soon have to deal with a string of absurdities, which involve clear violations of the Indian constitution

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Rajasthan's power distribution companies to raise Rs 1,500 cr through bonds

The rating factors in the companies' status as a wholly owned power sector entity of the state government

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Shekhar Gupta: Punjab's real problem

Punjab, once India's richest state, has slipped and fallen behind. It needs to get off the paddy-wheat-MSP high and rediscover its entrepreneurial impulse

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Guru Dutt, in sharp focus

An experienced biographer of Bollywood stars offers a fine understanding of the overlap between the actor-filmmaker's personal and professional life

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The good doctor's mission: Atul Gawande sets out to reform US healthcare

Obamacare, he argues, has already provided a good starting point that can now be taken forward full-throttle with the new administration

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Info Edge stock rides high on hopes of economic revival, Zomato IPO

Shares have rallied 42% since November to a record high of Rs 5,876.05 on Jan 6, before taking a breather

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Health ministry takes stock of vaccine preparation, assures jabs are safe

Over 3,000 sites across the country ready to vaccinate 300,000 health workers on first day. Some 100 beneficiaries will be given jab at each session site

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Adani, GMR, Godrej eye revamp of Chhatrapati Shivaji railway station

Project cost pegged at Rs 1,642 crore for creating a City Centre Rail Mall

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BARC may extend news ratings blackout by three months as TRP probe deepens

Suspension likely for another three months, say industry sources

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We hope investors will continue to support us: Hemant Kanoria of Srei Infra

In a Q&A, the company's chairman says the firm had to freeze interest payment and redemption of NCDs due to the pandemic and related regulatory approach

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Friday, January 15, 2021

India's m-cap to GDP ratio crosses 100% for first time in over a decade

BSE-listed companies' market capitalisation reached Rs 197.7 trillion on Thursday, against India's nominal GDP of Rs 190 trillion during 12 months ended December 2020

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RBI tweaks FEMA regulations, gives wings to recycling of aircraft

Till now, export of planes in knocked-down condition was not allowed

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Flipkart to Oyo, top 4 unicorns account for half of combined valuation

Indian unicorns notch up valuation of $128.9 bn in 2020; several looking at IPOs

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Late income-tax returns surge slows direct tax mop-up contraction

Net collection stands at Rs 6.57 trn, compared with Rs 7.24 trn a year ago

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From Tatas to RIL, India Inc goes into hiring mode as demand picks up

IT and auto lead the spurt in hiring so far; most of the jobs for junior or entry levels

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Indiabulls Housing Finance in talks with PEs to sell 15-20% stake

Investor to become single-largest shareholder; Sameer Gehlaut likely to step down as promoter

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Tightening revenue deficit doesn't seem the right course: NIPFP director

For the next year, a high buoyancy and a positive growth should increase fiscal space, says Chakraborty

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Tax benefit on health insurance policy varies based on family size

Amount of insurance purchased should, however, depend on your requirement, and not just the tax benefit

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Budget 2021: Govt's high debt may not warrant sovereign rating cut

Experts waiting for a debt management road map in Budget

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49 scientists, doctors throw their weight behind Covid-19 vaccines

The decision of Drugs Controller General of India to allow accelerated approval or the emergency use approval for Covaxin had become a contentious issue

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Centre to track casual links to determine Covid-19 vaccine liability

As for Serum Institute of India's Covishield approval, the drug regulator has mentioned in conditions to be met that the firm has to submit an India-specific risk management plan

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A beaten track: Plan for Railways has vision but lacks clarity on execution

The national transport utility's long-awaited draft national plan merely reiterates a direction that has already been set

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CERC plans to embrace AI, machine learning to improve functioning

First quasi-judicial body to strengthen its digital back-end

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Bank credit growth rises to 6.6% in fortnight to January 1, shows data

Bank credit rose by Rs 1.57 trillion in the last fortnight of Q3FY21.

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Budget 2021-22 wishlist: Here are the key challenges in health care sector

Close to 75% of medical devices are imported leading to forex loss

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In Nepal foreign minister Gyawali's visit, a signal to work with Oli govt

Gyawali is part of a caretaker government after PM K P Oli dissolved Parliament and ordered elections last month following intra-party dissensions

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Farmer leader opts out of SC panel on agri laws; next talks on Friday

Centre to hold 9th round of talks with protesting farmers today

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Covaxin safety established in phases 1 and 2 studies, says Bharat Biotech

The other less common adverse events were dizziness, giddiness, tremor, sweating, cold, cough, and injection site swelling

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How India can be great again

Book review of Making India Great Again: Learning from our History

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Warner Bros Entertainment delays Harry Potter video game until 2022

Hogwarts Legacy, developed by Utah-based Avalanche Software, is a prequel to the iconic fantasy book series by J K Rowling

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Old words with new meanings

One such is "woke", which Britain's political right denounces as a battering ram that will destroy the ramparts of social orthodoxy

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Expect banking revival in 2021

The potential turnaround in banking means the government does not need to act in haste, only to repent at leisure

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Cut the reserve price

Govt must look beyond revenues in spectrum auctions

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Old problem, older solution

State-controlled DFIs will have the same problems as PSBs

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Decoded: Donald Trump impeached, again; here's what happens next

This is the second time Trump has been impeached, a first in the history of American politics

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Google closes deal to buy Fitbit as Justice dept probe continues

Search and advertising giant Google has closed its deal to buy Fitbit, the companies said on Thursday, even as the Justice Department said it was continuing its probe of the $2.1 billion transaction.

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Amazon urges Sebi not to issue NOC for $3.4 bn Future-Reliance deal

The Jeff Bezos-led e-commerce giant has further urged the markets regulator to direct the Indian Stock Exchanges to do the same

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McConnell holds Donald Trump's fate as impeachment heads to Senate

McConnell told Republican colleagues in a letter Wednesday he would block starting an impeachment trial before Joe Biden takes office Jan. 20 and control of the Senate shifts to Democrats

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Thursday, January 14, 2021

Hospitals get ready for Covid shots ahead of vaccination drive on Jan 16

With SII dispatching the Covishield vaccine to 13 cities on Tuesday, the countdown to the vaccination day has begun, and hospitals are getting ready to administer the first shots.

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Govt likely to unveil new DFI framework in upcoming Union Budget

Some measures for easier infra financing also on the card

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Over Rs 950-crore tax evasion by Flipkart unit, Swiggy: I-T department

Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy, said a tax official privy to the preliminary findings

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Inflation finally in target range, but RBI may still not cut rates: Experts

Bond market is not factoring in a rate cut in February policy either

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Covid-19 vaccine makers divided on indemnity ahead of vaccination drive

Govt unlikely to take a shot at Covid-19 vaccine liability, say legal experts

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Purchase annuities in a staggered manner to get a better rate of return

Buy plans that do not have return of purchase price option, at a later age, to get a better rate of return

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WhatsApp's new policy: Signal high on privacy, misses out on backup

Since Signal is an open source app, its claims can be verified

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Honda puts the brakes on growth plans as scooter sales slow in India

Honda's scooter sales plunged 37 per cent year-on-year to 1,447,002 units in the first eight months of FY21

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Budget 2021-22 wishlist: Here are the key challenges in agriculture sector

There are no provisions for effective monitoring and support for farmers to sell outside the APMC

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Budget Byte: Disinvestment way behind target of Rs 2.1 trillion, again

This daily series of graphs provides context on some of the critical issues relating to the Union Budget on February 1

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Protesting farmers burn copies of farm laws to mark the festival of Lohri

Several bonfires were lined up at the Delhi-Haryana border stretch, the nerve centre of the farmers' agitation

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Infosys posts 16.6% net profit growth in Dec quarter, revises FY21 guidance

Large deals, digital growth drives outperformance

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Forge agreement on coronavirus treatment rates: Irdai to insurers

However, the insurers should make efforts to have agreement with health providers on rates for treatment of Covid-19 similar to other diseases

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Oil set for longest run of gains in two years as stockpiles fall: Report

Futures in New York rose for a seventh session toward $54 a barrel, heading for the longest run of gains since February 2019

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Non-life insurers see around 12% growth in December premiums, shows data

In the April-December period of FY21, the general insurers' premium totalled Rs 1.25 trillion, up 1.14 per cent over last year

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Mutual Funds prune BFSI and FMCG exposure in December, shows data

In December, MFs sold equities worth about Rs 37,000 crore, while FPIs bought Rs 50,000 crore worth of equities in the secondary market

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Dimensions of a Sino-Indian future

Book review of Powershift: India-China Relations in a Multipolar World

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RBI constitutes working group to develop and regulate digital lending

The six-member panel comprising four RBI internal members and two external members is expected to submit its report within three months

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Hindutva versus economic growth

Economic progress demands all-round liberalisation. From "love jihad" to atmanirbhar, the forces of Hindutva are yet to understand that basic truth

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2021: Dark clouds and silver linings

Fresh hopes on the economic, health and political front temper the grim legacy of 2020

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Avoid panic response

Bird flu should not be treated like Coronavirus

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Financing the vaccine

Any cess or surcharge should be one-time

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Markets end on flat note; Sensex falls 25 points, Nifty ends at 14,565

After gyrating over 721 points during the day, the 30-share BSE index ended 24.79 points or 0.05 per cent lower at 49,492.32. It scaled a record intra-day peak of 49,795.19.

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Nestle's outlook crunchy as ever, room for firm to go deeper into rural mkt

Focus on innovation, market share and product premiumisation seen boosting growth

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Mahindra lays off two-thirds of staff at its North American subsidiary

Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency

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Record deal wins offer revenue visibility for Infosys in next 3 quarters

While double-digit growth in FY22 is a given, near term margins could come under pressure

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Wednesday, January 13, 2021

With change in rules, fears of corporate domination loom over Indians

Corporates have warned against the use of WhatsApp for company work.

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Covid-19 likely to bring a sharper focus on health care in upcoming Budget

CII has also called for tax incentives for new health care projects and import duty relief for lifesaving equipment.

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DHFL bid: CARE Ratings subsidiary on Sebi radar over Oaktree's bonds

The markets regulator found it was a subsidiary of CARE which had rated the Oaktree acquisition proposal, not the bonds

from Today's Paper https://ift.tt/2LimTR7
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Enter term insurance early, lock in the premium as delay means higher cost

The average term premium increases exponentially with age

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Ford has an uphill drive in India after snapping ties with Mahindra

Lack of scale despite a quarter century in India could stall its growth in the market after the break-up with Mahindra & Mahindra

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Will confront China till acceptable solution is found, says Army chief

Naravane claims his troops took the Chinese by surprise on Ladakh Range

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Growth in health insurance segment slows as fear of Covid-19 subsides

Within health insurance, it was the retail segment that recorded impressive growth

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Jubilant Life Sciences, Tata Communications in Rakesh Jhunjhunwala's basket

In this quarter, Jhunjhunwala booked profit in information technology (IT) firm Firstsource Solutions (FSL) and raised his stake in pharmaceutical firm Jubilant Life Sciences

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Banking stocks, Reliance Industries keep indices' winning streak on course

The benchmark Sensex ended the session at 49,517, a gain of 247 points or 0.5 per cent. The Nifty rose 78 points or 0.5 per cent to end the session at 14,563

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Buoyant market spurs FPI registrations; number crosses 10K for first time

December saw more than 100 registrations after seven months

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India's low score on GVC a starting point for recovery from pandemic: AIIB

India rated 7.4 percentage points below the average global value chain participation rate for emerging economies from Today's Paper ht...