India auto production to shrink 8.3% in 2020 due to coronavirus, warns Fitch

Fitch Solutions today said it expects vehicle production in India to contract by 8.3 per cent in 2020 as the auto industry faces increasing risk of supply shortage due to China’s coronavirus outbreak, possibly hitting domestic output if the virus spreads in the country. Continue Reading

Business leaders speak on Budget during ‘Markets & Economy 2020’

Interesting views about the Union Budget were disscussed at the Markets and Economy 2020, an annual post-budget analysis conducted by United Way Chennai, held recently. The event took place at ITC Grand Chola, Chennai. Continue Reading

RBI governor: Current economy may pose challenges

Reserve Bank Governor Shaktikanta Das said that the current economic conditions may pose certain challenges to banks, and urged them to be proactive in tackling them. Continue Reading

India’s manufacturing sector activity inches up in November

The country’s manufacturing sector activity inched up in November but the upturn remained subdued as growth rates for new orders as well as production were modest, a monthly survey said today. The IHS Markit India Manufacturing PMI rose to 51.2 in November from 50.6 in October, when it had fallen to a two-year low, indicating only a slight improvement in the health of the sector. Continue Reading

Telecom stocks surge after tariff hike announcements

Shares of telecom companies today surged on the back of new tariff plans announced by the operators to be effective from 3 December onwards. Shares of Vodafone Idea were trading at Rs 8.38, up 22.69 per cent, on the BSE. The stock rose 22.63 per cent to Rs 8.40 on the NSE. Bharti Airtel appreciated 7.35 per cent to trade at Rs 474.80 on the BSE. The stock gained as much as 9.82 per cent to Rs 485.75 in early trade. Continue Reading

Challenges ahead for non-financial Indian companies in 2020: Moody’s

Driven by sluggish economic growth and slowing earnings, credit conditions will weaken for most Indian non-financial companies in 2020, Moody’s Investors Service said. Continue Reading

NBFCs to soon get Rs 20,000 cr under credit guarantee scheme

Finance Secretary Rajiv Kumar said the government is in the process of approving Rs 20,000-crore of lifeline to the fund-starved NBFCs under the partial credit guarantee scheme announced in the budget. Continue Reading

Junior FM asks bank to ensure smooth credit flow to MSMEs

Junior finance minister Anurag Thakur asked banks to ensure smooth flow of credit to MSMEs which are in genuine need of funds. It can be noted that despite many measures announced by successive governments, small businesses continue to face funding issues, as banks don’t chase them as they do with large companies for a variety of reasons. Continue Reading