Will Jubilant give lip-smacking returns in the short term?
Sat, Jan 2, 2021 11:09 AM

Will Jubilant give lip-smacking returns in the short term?

First it was pizzas, then donuts, then biriyanis and now kebabs. Jubilant Foodworks’ expansion into newer cuisines by expanding its quick-service restaurant’s (QSR) offering got a boost with a stake purchase in Barbeque Nation Hospitality. The franchise owners of Domino’s Pizza and Dunkin Donuts in India on Thursday bought 10.76 per cent in Barbeque Nation for Rs 92 crore.

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Housing finance cos face asset quality challenges in 2021
Sat, Jan 2, 2021 11:04 AM

Housing finance cos face asset quality challenges in 2021

India’s central bank expects greater challenges for HFCs in 2021 in the shape of delays in completion of housing projects, cost overruns due to the unavailability of labour and delayed investments by buyers in the affordable housing sector. The sector may need to factor in large slippages of loan assets and higher provisioning as incomes shrank and jobs were lost due to the pandemic.

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Coal India’s Q3 production grows 6.3%
Sat, Jan 2, 2021 10:59 AM

Coal India’s Q3 production grows 6.3%

Coal India (CIL) recorded a 6.3% year-on-year growth in production at 156.8 million tonne (MT) in the third quarter of the current fiscal, while its quarter-on-quarter growth was 36.4% over the production of 115 MT during the second quarter. Supplies in the quarter under review grew 9.2% y-o-y at 154.6 MT, compared to 141.6 MT in the third quarter last fiscal.

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M&M, Ford pull the plug on joint venture
Sat, Jan 2, 2021 10:52 AM

M&M, Ford pull the plug on joint venture

Mahindra and Mahindra Ltd and Ford Motor Co. said that the global disruptions brought about by covid-19 and the ensuing change in capital allocation priorities forced them to abandon a proposed partnership for engine and vehicle development in India. The move is a blow to Mahindra’s plans to get access to manufacturing capacities and new technologies for engines and connected vehicles.

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Iron ore miners writes to PMO for import duty withdrawal
Sat, Jan 2, 2021 10:43 AM

Iron ore miners writes to PMO for import duty withdrawal

The steel industry’s representative body ISA urged the PMO to impose a temporary ban on exports of iron ore for six months to tide over the present supply crisis which is resulting into price rise of the raw material and causing steel price hike. The miners have asked for a withdrawal of import duties, as they think it indulged in ‘profiteering’ taking undue advantage of the current situation.

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Indian oil sardine seemingly on revival path along Kerala coast: CMFRI
Sat, Jan 2, 2021 10:27 AM

Indian oil sardine seemingly on revival path along Kerala coast: CMFRI

Indian oil sardine, which was showing a declining trend for the past few years, appears to be on a revival path along the Kerala coast, state-run Central Marine Fisheries Research Institute (CMFRI) said on Friday. Scattered batches of immature sardines have been reported from the southern coast of the state because of a seemingly favourable condition in the marine ecosystem.

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India’s 2021 China policy can’t be forged from hot words alone
Sat, Jan 2, 2021 10:24 AM

India’s 2021 China policy can’t be forged from hot words alone

India will need open-mind strategic reflection and creativity of the highest order to live in the dragon’s shadow. This New Year, that ancient war will seem strangely familiar to India’s strategic establishment. Even as Indian troops remain locked in a high-altitude standoff with the People’s Liberation Army in Ladakh, Beijing has expanded its influence across the region.

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December drive: Smart rise in auto wholesale volumes
Sat, Jan 2, 2021 10:14 AM

December drive: Smart rise in auto wholesale volumes

Wholesale despatches of automobiles bounced back smartly in December with automakers replenishing the stocks at dealers ahead of the price increases in January. A low base effect also helped boost the numbers. The smart 14% y-o-y rise in the CV despatches at Ashok Leyland was encouraging; the Street had not pencilled in such a strong performance, said the automaker.

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KKR to float private InvIT in bid to house renewable assets
Sat, Jan 2, 2021 10:03 AM

KKR to float private InvIT in bid to house renewable assets

Private equity firm KKR is setting up a private infrastructure investment trust (InvIT) to house operating renewable energy assets it aims to acquire in India. InvITs will manage income-generating infrastructure assets, offer a regular yield to investors and a liquid way to invest in infrastructure projects. This will be the second InvIT backed by KKR in India.

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Tata Steel transfers stake in processing arms to TSDPL
Sat, Jan 2, 2021 9:57 AM

Tata Steel transfers stake in processing arms to TSDPL

Tata Steel transferred its stake in two companies to TSDPL, a wholly-owned subsidiary of the firm. The steel conglomerate today transferred the 51% stake it holds in JCAPCPL and 50% stake it holds in TBSPL to TSDPL. according to Tata steel, this step was taken to reorganise the company's India footprint into four clusters to to drive scale, synergies and simplification.

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Scrapping of IUC- Impact on Vodafone Idea, Airtel & Jio
Sat, Jan 2, 2021 9:30 AM

Scrapping of IUC- Impact on Vodafone Idea, Airtel & Jio

The elimination of inter-operator IUC charges may result in certain EBITDA gains for Vodafone Idea and some impact for Jio, while it will be neutral for Airtel, according to a report by Credit Suisse. The zero IUC (Interconnect Usage Charges) regime was previously slated to come into effect from January 2020, but then the telecom regulator deferred its implementation till January 1, 2021.

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Rise in fuel sales in 2020 shows signs of economic recovery: IOC
Sat, Jan 2, 2021 8:15 AM

Rise in fuel sales in 2020 shows signs of economic recovery: IOC

Despite disruptions in commercial activities due to the COVID-19 crisis, sales of motor spirit and diesel have increased during 2020, which indicates a revival of the economy, an official of Indian Oil Corporation (IOC) said on Friday. During 2020, sales of motor spirit have increased by 108 percent and diesel by 96 percent over the previous year, IOC director (marketing) Gurmeet Singh said.

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Most sought after LinkedIn Skills globally | FlipItFact
Sat, Jan 2, 2021 12:55 AM

Most sought after LinkedIn Skills globally | FlipItFact

LinkedIn is an American business & employment-oriented online service that operates via websites and mobile apps. Launched on May 5, 2003, the platform is mainly used for professional networking, and allows job seekers to post their CVs and employers to post jobs. "Cloud and distributed computing” and “Statistical Analysis and Data Mining” are the most popular skills to get hired. Did you know it?

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Govt seeks bids for 10% stake divestment in RCFL
Sat, Jan 2, 2021 12:20 AM

Govt seeks bids for 10% stake divestment in RCFL

The government has sought bids from top 19 law firms for selecting legal advisors that will facilitate for disinvestment of 10% equity in Rashtriya Chemicals & Fertilizers Limited (RCFL) through an offer for sale or OFS. Firms are to submit their bids by January 29, the department of investment and public asset management (DIPAM) said on Friday.

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Govt procures paddy worth Rs 92,121 crore so far at MSP
Fri, Jan 1, 2021 10:22 PM

Govt procures paddy worth Rs 92,121 crore so far at MSP

Paddy procurement has increased by 25% so far in the ongoing Kharif marketing season to 487.92 lakh tonnes, valued at Rs 92,121 crore. The Kharif marketing season (KMS) starts from October. The Food Corporation of India (FCI) and state agencies have purchased 487.92 lakh tonnes of paddy till December 31 as against 390.56 lakh tonnes in the corresponding period of the previous year.

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