Editorial: Reform, Refresh

At a time when reports making alarming claims on Indian economy, Union Finance Minister Nirmala Sitharaman has said the government is open to further reforms for making India a more attractive investment destination. 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

Coal India profit at Rs 3,522 crore

State-run Coal India reported a 14 per cent rise in consolidated net profit at Rs 3,522.7 crore for the quarter ended September. The company’s net profit stood at Rs 3,084.54 crore in the year-ago period, it said in a regulatory filing. Continue Reading

Indian Oil starts delivery of marine fuel

Indian Oil has commenced deliveries of IMO-2020 compliant Low Sulphur Furnace Oil (LSFO) with 0.5 per cent Sulphur as marine fuel at Indian ports. The first such supply was made on 26 October to the LPG tanker Berlian Ekuator at Kandla port. Continue Reading

Research firm reports 2020 will be a year of rebound for India’s IT spending

IT spending in India is forecast to cross $94 billion in 2020, up 6.6 per cent from $88.5 billion in 2019, research firm Gartner said on Monday. “2020 will be a rebound year for India’s IT spending as consumers return to purchasing mobile phones after sitting on the sidelines in 2019,” Gartner research vice president John-David Lovelock said. Continue Reading