COMPANIES & SECTORS


Moneylife Digital Team 27 October 2021
About 20 gigawatts (GW) or 10% of the total 209GW capacity of coal-based thermal power generation companies (gencos) in India remains vulnerable to outage amid surging demand for coal, warns ratings agency CRISIL.   Despite the recent dip of around 10% in demand through 16 and 17...

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Ranganathan V Ranganathan V 27 October 2021
This short piece that deals with an intriguing issue, considered by the single judge of the Bombay High Court through the Zee Entertainment Enterprises Ltd (ZEE) versus Invesco Developing Markets Fund case, does much injustice to the interim order, which is embellished with a great deal of...

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Moneylife Digital Team 26 October 2021
The global shortage of semiconductors will moderate India’s passenger vehicle (PV) sales to 11%-13% this fiscal, around 400-600 basis points (bps) lower than what could have been sans the scarcity, a CRISIL Ratings analysis of India’s top-3 passenger vehicle (PV) original equipment makers...

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Moneylife Digital Team 26 October 2021
In a setback to the largest shareholders, the Bombay High Court (HC) on Tuesday granted an interim injunction on Invesco Developing Markets Fund and OFI Global China against calling an extraordinary general meeting (EGM) of Zee Entertainment Enterprises Ltd (ZEEL) shareholders. Last week, the...

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Moneylife Digital Team 26 October 2021
S&P Global Ratings raised its long-term issuer credit rating on Manappuram Finance Ltd to 'BB-' from 'B+' with a stable outlook. It sees the gold-based lending business of the company as an effective counterbalance to the weakness in India's microfinance segment. S&P also affirmed the 'B'...

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It is common knowledge that the restaurant sector was severely impacted by the first and second lockdowns triggered by the Covid-19 pandemic, but now the National Restaurant Association of India (NRAI), the trade body that represents the industry, has put numbers to the story.   It...

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The Supreme Court (SC) on Monday was told that the State Bank of India (SBI) and the UCO Bank have agreed to invest Rs450 crore in Amrapali projects, but other banks, who were part of a consortium, are delaying the process.   Senior advocate and Court-appointed receiver R...

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Moneylife Digital Team 25 October 2021
Solar tariffs may rise to Rs2.6 to Rs2.7 per unit from an all-time low of Rs2 per unit over the next fiscal due to the recent increase in the goods and services tax (GST) on renewable energy equipment and the proposed customs duty on imported solar modules. Further, increased project cost is...

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Moneylife Digital Team 25 October 2021
Sustained high banking systemic liquidity, coupled with limited avenues for deployment, is pushing lenders to expand their risk appetite, says a research note, adding large corporates, in general, have been on a deleveraging path because of their muted capital expansion (capex) and working...

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Venkatachari Jagannathan (IANS) 25 October 2021
Boxed by rising input prices, stagnant demand and production, galloping domestic and export freight costs, have forced the safety matches manufacturers to increase the price by Re 1 per box after 14 years.   Yes... You heard it right, the price hike of Re 1 per box sold by retail...

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Moneylife Digital Team 22 October 2021
The Bombay High Court (HC) on Friday reserved its judgment in the dispute between Zee Entertainment Enterprises Ltd (ZEEL) and the company’s majority stakeholder Invesco Developing Markets Fund and OFI Global China, who are seeking an extraordinary general meeting (EGM). During the hearing,...

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Moneylife Digital Team 21 October 2021
Regulated coal supplies to non-power sectors and allowing participation of captive miners amid an increase in production by the critical supplier—Coal India—may help corporate India avoid what appeared to be a major power crisis in the making until recently. However, the threat still looms...

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Moneylife Digital Team 21 October 2021
The Bombay High Court (HC) on Thursday asked Zee Entertainment Enterprises Ltd (ZEEL) to call an extraordinary general meeting (EGM) as requested by Invesco Developing Markets Fund (Invesco) and OFI Global China Funds (OFI), the largest shareholders in the company.    However, the HC...

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After facing criticism for allegedly copying popular products and manipulating search results to boost its own brands, especially in India, Amazon has now announced a new tool that will help third-party sellers with detailed insights into what customers are searching for, clicking on, and...

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Moneylife Digital Team 20 October 2021
The production linked incentive (PLI) scheme has given a much-needed booster dose to flailing capital expenditure (capex). Without it, capex would have likely taken nearly two years to touch pre-pandemic levels. The actualisation of the scheme will result in aggregate industrial capex rising...

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Moneylife Digital Team 18 October 2021
As many as 31 companies, including 16 micro, small and medium enterprises (MSMEs) and 15 non-MSMEs comprising eight domestic and seven global companies, have received approval under the production linked incentive (PLI) scheme of the department of telecommunications (DoT).    Eligible...

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Moneylife Digital Team 16 October 2021
The government has decided to convert the Ordnance Factory Board (OFB) from a department, into seven fully government-owned corporate entities to improve self-reliance on the country's defence preparedness. The seven new defence companies that have been incorporated are Munitions India...

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PNB Housing Finance has terminated the Rs4,000 crore deal with US-based Carlyle group for a preferential allotment.   "The Board's primary objective is to raise capital to support the growth of the Company, and the Board believes that the current situation is not in the best interests...

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After facing protests and social media storm over pay parity and working conditions, online home services provider Urban Company (formerly UrbanClap) on Thursday announced to slash the commission it charges from beauty service professionals from 30 per cent to 25 per cent.   The...

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Moneylife Digital Team 14 October 2021
Curtailed production due to semiconductor shortages heavily dented India's domestic passenger vehicle sales on a year-on-year (y-o-y) and sequential basis in September. Further, challenges about high operating and ownership costs due to rising fuel and commodity prices subdued buyers'...

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