Top 10 biz headlines: Markets on edge, auto sale, YES Bank, and more

Reliance Jio has sought permission from the government to undertake 5G trials based on technology and design developed by it
Markets on edge: Weak economic data, Coronavirus spook investors further

There seems to be little respite in sight for the markets — which have just seen their worst week in a decade — as the impact of coronavirus has started reflecting in economic data. Read More

Reliance Jio seeks govt's permission for trial of self-designed 5G

In a first by an Indian telco, Reliance Jio has sought permission from the government to undertake 5G trials based on technology and design developed by it. Read More

BS-VI transition, supply disruption due to virus put car sales in slow lane

Sales of vehicles continued to decline in February, with carmakers shifting focus to disposing of existing stocks, before the transition to a new emission regime.  Read More

GSK Consumer merger sets stage for Hindustan Unilever, Nestle face-off

Two of Europe’s biggest names — Nestle and Unilever — will now compete head-on in the food segment in India. The trigger is the merger of GlaxoSmithKline (GSK) Consumer into Hindustan Unilever (HUL), approved last week by the Chandigarh Bench of the National Company Law Tribunal (NCLT). Read More

Coronavirus impact: Firms stare at prospect of airlifting raw materials

The growing spread of coronavirus and its impact on production in China have left Indian companies scrambling for options. While airlifting raw materials from China is a measure that some firms are now considering, others are looking at neighbouring countries such as Taiwan, Vietnam, and Thailand for their sourcing requirements. Read More

Will double turnover with anti-diabetic bet, says Boehringer Ingelheim

German pharma major Boehringer Ingelheim has seen a 45.4 per cent compound growth rate over the past five years in its anti-diabetic portfolio in India. Read More

Bigbasket aims to go for IPO by 2023, cross Rs 7,000 cr in revenue in FY21

Online grocery firm Bigbasket aims to go for an initial public offering (IPO) by 2023, by when it strives to have Ebitda-positive financials. Ebitda shows the operating and is an important parameter as it depicts the health of a business and whether it is able to generate cash after meeting its operational expenses. Read More

HAL finalises plan to produce chopper on par with Boeing's Apache

In an ambitious project with strategic significance, aerospace major Hindustan Aeronautics Ltd (HAL) has started ground work to produce a 10 to 12 tonne attack helicopter by 2027 which will be comparable with some of the best medium-lift military choppers globally like the Apache of the Boeing. Read More

RBI readies a rescue plan if YES Bank fails to raise funds

The government and the Reserve Bank of India (RBI) are considering all options, including an interim bailout of Yes Bank Ltd, in case a proposed $2 billion capital infusion into the private lender gets further delayed, Livemint reported. The possible intervention could include a sale of pooled assets to public sector banks or, as a last resort, sale of a small stake to a state-run bank to pave the way for further capital raising, the people said on condition of anonymity.

A backup rescue plan for Yes Bank, which is teetering under the weight of bad loans, has become necessary for RBI and the government to consider as the collapse of a bank can have a domino effect on interlinked financial institutions and impair economic growth.

NPS pension payouts to become flexible

The Pension Fund Regulatory and Development Authority (PFRDA) is working on alternatives to the mandatory annuity product that National Pension System (NPS) subscribers have to buy on exit Livemint reported. When exiting on maturity, NPS subscribers can withdraw up to 60% of the corpus but compulsorily need to buy an annuity plan with the remaining 40%. For premature exit after 10 years, 80% of the corpus needs to be annuitized.


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