COMPANIES & SECTORS


Credit rating agency Fitch Ratings said it believes a sustained gross domestic product (GDP) growth, the government's thrust on infrastructure and affordable housing, and a revival in corporate capex (capital expenditure), will underpin growth of the cement sector.   The rating agency...

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Moneylife Digital Team 13 June 2022
The National Company Law Appellate Tribunal (NCLAT), on Monday, upheld the December 2021 order of the Competition Commission of India (CCI) that suspended its earlier order approving Amazon's deal with Future Coupons, and had imposed a Rs202 crore fine on the e-commerce company for...

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Flipkart Co-founder Binny Bansal has sold his stake worth $264 million (more than Rs 2,000 crore) in the homegrown e-commerce platform to Chinese Internet giant Tencent, at a time when the neighbouring country has once again hardened its positions along the Indian border.   The news...

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Moneylife Digital Team 07 June 2022
Fitch Ratings on Tuesday affirmed its long-term foreign-currency issuer default rating (IDR) on port operator Adani Ports and Special Economic Zone Ltd (APSEZ) at 'BBB-' with a negative outlook.   In a report, the rating agency says, "We continue to assess APSEZ's underlying credit...

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Moneylife Digital Team 06 June 2022
Retail auto sales in May 2022 doubled compared with those in the previous month; however, compared with the pre-COVID month (May 2019), auto sales are still down 10%, says the Federation of Automobile Dealers Associations (FADA).   According to FADA, the Union government's decision to...

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Moneylife Digital Team 06 June 2022
Power storage demand in India will expand at a rapid pace to stabilise the increasing variability on both: the power supply side—from rising renewable generation—and the demand side, says Fitch Ratings.   In a report Spotlight: Power Storage in India, the rating agency says,...

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Moneylife Digital Team 02 June 2022
In May, transporters passed on the drop in diesel prices by decreasing freight rates on several routes. However, fleet utilisation remained flat during the month compared with the previous month, says a research note.   According to CRISIL Ratings, while utilisation for the market...

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As VC money disappears amid economic slowdown, tech startups have laid off over 20,000 employees the world over since April, while more than 8,000 employees have lost jobs at the Indian startups led by edtech platforms.   According to layoff aggregator Layoffs.fyi, at least 20,514...

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Moneylife Digital Team 01 June 2022
The pandemic, with its unprecedented hardships/challenges, has caused Indians to actively seek spiritual solace. Thomas Cook (India) Limited and SOTC Travel have witnessed a strong 35% growth in spiritual tourism. The companies conducted a research to reveal insights of over 2,000 customers...

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In the latest string of layoffs in the funding winter, conglomerate Indiabulls' social commerce platform Yaari has reportedly laid off nearly 150 employees which makes 60% of its workforce.   According to a report in the leading startup news coverage portal Inc42, Yaari is likely to...

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Reliance Brands and Plastic Legno SPA have signed a joint venture arrangement through which the former will acquire a 40 per cent stake in the latter's toy manufacturing business in India.   This investment by Reliance Brands serves a dual purpose -- bringing in vertical integration...

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Moneylife Digital Team 31 May 2022
The three private sector telecom operators, Reliance Jio, Bharti Airtel and Vodafone Idea, lost 37mn (million) subscribers past fiscal as SIM consolidation weeded out inactive ones. But their active subscriber base grew 3%, or by about 29mn. While the active subscriber base of Jio and Airtel...

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Moneylife Digital Team 27 May 2022
South India Spinners Association (all members unanimously), on 22 May 2022, announced that it has decided to close all mills. “The members will not buy cotton until the cotton price situation is conducive for sustainability of mills,” it says, stopping all procurement of cotton. It has cited...

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The Supreme Court (SC) on Thursday set aside the Delhi High Court (HC) order, which stayed the investigation into companies related to the Sahara group and also the look out circulars (LOCs) issued against Sahara group chief Subrata Roy and his wife.   A bench comprising justices DY...

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The ministry of power on Wednesday said in a statement that it is working on a scheme to liquidate the past dues of discoms (distribution companies) as it owes Rs1,00,018 crore as on 18 May 2022 to the generating companies.   The discoms will be allowed to pay dues in 48 monthly...

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Moneylife Digital Team 25 May 2022
ArcelorMittal Nippon Steel India has announced an investment of Rs1,000 crore towards brownfield expansion of its Vizag pellet plant in Andhra Pradesh.   This investment follows a recent announcement by ArcelorMittal, a parent company of AM/NS India, to develop a ‘round the clock’...

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Moneylife Digital Team 25 May 2022
A sharp increase in the prices of solar modules and commodities such as steel,  together with rising freight costs, will pull down the return on equity (ROE) of nearly a fifth of the 25 GW (gigawatt) private solar capacity, according to a recent study by research and ratings agency CRISIL....

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The dairy farmers of Tirupur are affected after the increased price of cotton seeds led to an increase in the price of cattle feed. Cotton seeds are a vital part of the cattle feed and are rich in protein and fibre.   Farmers told IANS that the price of cotton seeds has gone up from...

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Forced to pay service charges at a restaurant or food outlet of your choice? Are you aware this is entirely optional and voluntary and insistence on it as mandatory violates your right as a consumer?   The government has scheduled a meeting on 2nd June with the National Restaurant...

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The average bid price of coal at a recent spot e-auction conducted by Mahanadi Coalfields Limited rose more than 800% above the notified price, according to a representation by the Coal Consumers Association of India (CCAI), which has pointed this out as an example of how coal buyers in the...

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