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Top 10 biz headlines: Swiggy to deliver groceries, IIP growth, and more

BS Web Team/ 13 Feb 19 | 06:25 AM

DTC panel seeks to curb tax litigation; charitable trusts may face the heat


India’s direct taxes code (DTC) is likely to introduce a mechanism to reduce litigation in the country and bring it in line with the best practices internationally. Read on

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Swiggy Stores to take on online grocers Grofers, BigBasket and Dunzo


Food-delivery start-up Swiggy on Tuesday said it would deliver groceries through its new service, Swiggy Stores. The Naspers-backed firm has recently raised $1 billion. The foray into hyperlocal deliveries will place it in competition with Amazon and Flipkart as well as online grocers such as BigBasket, Grofers, and Google-backed Dunzo. Read on


Lenders seek more collateral from Reliance Group's promoter entities


Lenders including private banks and mutual funds have asked Anil Ambani-controlled Reliance Group’s promoter entities to put more collateral on the table to secure their Rs 6,000-crore exposure. The margin calls first started in October last year when the Reliance Power stock began showing signs of weakness, according to a lender. Read on


CCI probing accusations of Google abusing Android to block rivals: Report


India's antitrust commission is looking into accusations that Alphabet Inc's unit Google abuses its popular Android mobile operating system to block its rivals, four sources with direct knowledge of the matter told Reuters. Read on


Tata Motors' record loss in Q3 brings back focus on group's foreign buys


In 2007, Tata Steel acquired Corus (renamed Tata Steel Europe) for around $13 billion. The group followed it up by spending another $2.3 billion to acquire luxury car maker Jaguar Land Rover (JLR) in 2008 under Tata Motors. Read on


New tariff regime: Trai gives TV viewers up to March 31 to choose channels


The Telecom Regulatory Authority of India (TRAI), on Tuesday extended the deadline for cable TV subscribers to shift to the new tariff order regime till March 31. In the meantime, distribution platform operators (DPOs) have been asked to either continue the new packs, or migrate the consumers to the ‘Best Fit’ pack. Read on


IIP grows at 2.4% in December against 7.3% in year-ago period


Industrial output grew by 2.4 per cent in December, up from 17-month low of 0.3 per cent in November, showed data released by the Central Statistics Office (CSO) on Tuesday. Read on


NDA pins hopes on flagship Ujjwala scheme to return to power


The National Democratic Alliance (NDA) government is banking on its marque schemes such as the Pradhan Mantri Ujjwala Yojana (PMUY), which provides free cooking gas connections to poor families, to put it on a home run in the general elections, according to Livemint report.


Can't compare Jio and Vodafone Idea; we are not getting into content: Kumar Mangalam Birla


I don’t think Binani would have been resolved if it wasn't for IBC. It’s a very brave reform by the Modi govt. You must give them credit Kumar Mangalam Birla, chairman of the Aditya Birla Group, spoke to The Economic Times on issues ranging from how Vodafone Idea is tackling competition to the Insolvency and Bankruptcy Code (IBC) and his views on the next government.


Sharp rise in concentration risks for debt funds on IL&FS, DHFL crisis


What began as a singular event, with IL&FS defaulting on its dues, has snowballed into a liquidity crisis for many NBFCs since October last year. The sharp rise in the yield of certain debt papers issued by Dewan Housing Finance Company (DHFL) in the secondary market, shortly after the IL&FS episode broke out, increased the concern over the liquidity issues at NBFCs, according to The Hindu BusinessLine report.

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Sensex

Company Price Gain (%)
O N G C137.101.48
Tata Motors163.001.18
Axis Bank692.600.88
NTPC136.850.48
IndusInd Bank1,516.950.47

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