News digest: Q4 preview, govt borrowing, Air India sale, Defexpo, and more

Q4 preview: March quarter estimates show earnings growth losing steam

The trend of steady improvement in corporate earnings growth seems to be losing steam, with the combined net profit of India’s top 50 companies, which are part of the NSE Nifty50 index, estimated to grow by 10.9 per cent year-on-year (YoY) during the January-March 2018 quarter, down from the 11.5 per cent YoY growth clocked in the third quarter and 40.5 per cent growth during the year-ago quarter. Read more

 

 

Govt borrowing likely to be lower in second half of FY19 than in the first

The Government of India’s (GoI’s) market borrowing in the second half (H2) of 2018-19, against expectations, might be lower than the Rs 2.9 trillion it plans to raise till the end of September.

It is meant to keep the yields on government debt paper low, which should please their buyers like banks and other financial institutions (higher yields happen when there is a greater supply of such paper). Read more

 

Centre may ease expression of interest deadline for 76% stake in Air India

The government may relax the deadline for submitting an expression of interest (EoI) to buy 76% in state-owned carrier Air India. 

 

However, the structure of the deal will remain unchanged with no plans to split the international and domestic businesses of the airline. Read more

 

CBI, Indian Revenue Services officers at loggerheads over fraud tax refunds

The probe initiated by the Central Bureau of Investigation (CBI) into the fraudulent tax refunds case has not gone down well with the Indian Revenue Services (IRS) officers. In a resolution passed against the central agency, IRS officers called the allegation against the tax sleuths baseless and demoralizing. Read more

 

L&T to grab early spotlight at Defexpo with first private sector warship

The Ministry of Defence (MoD) is presenting Defexpo India 2018, a four-day land and naval systems exposition that will kick off in Chennai on Wednesday, as a display of Indian defence industrial capability. Underscoring that point, the first offshore patrol vessel (OPV) built by a private shipyard will join operational service that morning. Read more