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Top 10 biz headlines: Budget impact, Sensex falls, 5G spectrum, and more

BS Web Team/New Delhi 09 Jul 19 | 06:05 AM

FPI surcharge makes markets see red; Sensex posts biggest fall in 9 months


The Indian markets fell the most in nine months with the benchmark Sensex dropping as much as 908 points in intra-day trade after a combination of domestic as well as global factors hit investor sentiment. Read more here

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Budget impact: Exports may be counted as local sourcing for retail


Even as the government is fine-tuning changes in the single-brand retail policy following the Budget proposal to relax the local sourcing norms, it is learnt that at least three significant tweaks are being planned to attract foreign investment from marquee multinational brands. Read more here


Budget impact: FDI cap in insurance sector may be raised to 74%


The government is planning another round of overhaul of the foreign direct investment (FDI) policy with changes across sectors including insurance, contract manufacturing, digital media, and information utilities, besides single-brand retail trade, in line with the Budget announcements. Read more here


Govt likely to monetise Indian Railways' heritage routes and stadia


As part of its plan to monetise land and assets for meeting the highest-ever divestment target of Rs 1.05 trillion, the government is likely to throw open Indian Railways’ heritage routes and stadia, including the Jawaharlal Nehru Stadium in Delhi, for private sector investments. Read more here


NIIF set to make national highway debut with Rs 15,000-crore investment


In a major greenfield investment, the National Investment and Infrastructure Fund (NIIF) would be investing Rs 15,000 crore in equity for the marquee Delhi-Mumbai expressway project. Read more here


Deutsche Bank faces an uncertain future, may exit India equities biz too


Deutsche Equities India (DEIPL), the domestic investment banking and equities trading arm of Deutsche Bank, faces an uncertain future. Sources say DEIPL is in the process of unwinding its India operations, following Germany-headquartered parent’s decision to exit the equities trading business globally. Read more here


Trai refuses to budge on 5G spectrum pricing in upcoming auctions


The Telecom Regulatory Authority of India (Trai) on Monday reiterated its recommendation on spectrum pricing in the upcoming auctions. In response to the Digital Communications Commission (DCC), the regulator said it had considered all the relevant factors, including methodology, assumptions, and developments in the telecom sector before giving its views. Read more here


WalmartLabs acquires two startups to bolster its customer service


The technology arm of the US retail giant has acqui-hired health tech startup FloCare and B2B wholesale trading platform BigTrade, for undisclosed amounts. Acqui-hires are typically made for the skills of the team, rather than for the product. Read more here


View: Govt's plans for transforming school and higher education need more clarity


The draft National Education Policy (NEP) is an impressive document: substantial, well-structured, well-written. It ticks all the high-minded boxes: primacy of the government sector, especially the Union government; ‘autonomy and empowerment’ for both institutions and individual teachers; a budget of 6% of GDP, over twice the current level. Read more here


Former Punj Lloyd employees in the soup as PF payouts are held up


The diversified Punj Lloyd Group, which is now undergoing a Corporate Insolvency Resolution Process (CIRP), faces claims of about 6.6 crore from its former employees. Read more here



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Sensex

Company Price Gain (%)
Yes Bank106.352.36
Kotak Mah. Bank1,527.001.63
HCL Technologies1,033.701.34
Bajaj Fin.3,475.300.77
Asian Paints1,379.400.55

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