Top headlines: Mistrys eye huge windfall; Sebi to prescribe MF stress test

Ratan Tata (left) and Cyrus Mistry are engaged in a bitter feud. The 70-year-old relationship between the two groups might see an end soon
Mistrys eye huge windfall, set Rs 1.8-trillion price tag for exit

The Shapoorji Pallonji (SP) group has valued its stake in Tata Sons at close to Rs 1.78 trillion. The valuation is based on the current value of Tata Sons' shares in group listed companies such as Tata Consultancy Services (TCS), Titan Company, Tata Motors, and unlisted subsidiaries including Tata Capital and Tata AIA Life Insurance. Read More

Shapoorji Pallonji Group agrees to exit Tata Sons, calls for separation

In an attempt to end the long-standing and bitter dispute with the Tata group, the SP group, owned by the billionaire Mistry family, on Tuesday told the Supreme Court (SC) that it would exit Tata Sons, provided an early, fair, and equitable solution was reached. In a late evening statement, the Mistry family said a separation from the Tata group was necessary due to the potential impact the ongoing litigation could have on livelihoods and the economy. Read More

Murugappa family votes to keep Valli Arunachalam out of holding co board

The shareholders of Ambadi Investments (AIL), the holding company (holdco) of the Rs 38,100-crore Murugappa Group, have voted against the induction of 59-year-old Valli Arunachalam, the eldest daughter of former executive chairman M V Murugappan, into its board. Read More

Sebi to prescribe stress tests, liquid holdings for debt mutual funds

The Securities and Exchange Board of India (Sebi) on Tuesday said it would tweak norms for debt MFs to improve liquidity and help schemes meet redemption requests at a short notice. The guidelines could mandate all debt schemes to hold a certain percentage of their portfolios in liquid assets and conduct regular stress tests to assess their liquidity profile. Read More

HMD unsure of making dent in India's coronavirus syringe market

India could soon find itself on the horns, let’s make that needles, of a dilemma as it sets out to buy the millions of syringes it will need for the coronavirus vaccine. More than half the auto disposable syringes bought by the government — 300 million syringes per annum — for mass immunisation programmes for other diseases are imported from China because they are inexpensive. Read More

Blue Dart to hike average shipment price by over 9% from January 1

Logistics services provider Blue Dart on Tuesday announced a 9.6 per cent hike in its average shipment price from January next year to offset higher costs. The price increase, however, will not be applicable to customers signing up with the company between October 1 and December 31, 2020, Blue Dart Express said in a release. Read More

Trai chief calls for creating shareable telecom infra in buildings

Making provisions for telecom comes as an afterthought post construction of buildings - unlike power, water and other utilities - leading to connectivity issues and RWAs must allow all players to create shareable infrastructure for easy plug and play, a top TRAI official said on Tuesday. Read More

I-T department puts in place safeguard measures for e-assessment

Addressing fears that the faceless assessment process may lead to a rise in ad hoc additions in demand by tax officers due to a gap in understanding or inadequate submissions, the income tax department has put in place in-built safeguard mechanisms. Read More

Refiners likely to add only a fourth of targeted petrol pumps in India

November 2018, the three oil marketing companies (OMCs) – Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) – had come out with an advertisement floating tenders for 78,493 petrol pumps across the country. This move, which came just before the polls, was pitched as a step to create over one million jobs. However, according to executives, the number of new pumps to be added would be significantly less. Read More

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel