Top 10 biz headlines: BPCL privatisation, IRCTC market debut, and more

From government planning to privatise BPCL to IRCTC making stock market debut, here are the top 10 business headlines on Monday

BPCL privatisation likely to clear the decks for strategic partner in HPCL

The government’s plan to privatise Bharat Petroleum Corporation (BPCL) is likely to clear the decks for Oil and Natural Gas Corporation (ONGC) to bring in a strategic private or foreign partner in its subsidiary Hindustan Petroleum Corporation (HPCL). Read More

WeWork IPO debacle a lesson, says Paytm founder Vijay Shekhar Sharma

From eyeing half-a-trillion dollars in gross transaction value (GTV) to being profitable in the next two years, Vijay Shekhar Sharma, founder of Paytm, is working towards a possible initial public offering (IPO). Read More

DoT studying security threat of loss-making BSNL-MTNL privatisation

As the finance ministry refuses to part funds for the revival of Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), the Department of Telecommunications (DoT) is busy brainstorming on the security aspect of complete privatisation of the domestic telecom sector, besides persisting with the Centre to infuse the twin PSUs with fresh capital. Read More

Govt reviewing proposal to allow workers to switch between EPS and NPS

The Union government is reviewing its proposal to allow private sector workers to switch between the Employees’ Pension Scheme (EPS) and the National Pension System (NPS), a senior government official said. Read More

IRCTC to make stock market debut on Monday after raising Rs 645 cr in IPO

Indian Railway Catering and Tourism Corporation (IRCTC), which recently concluded its Rs 645-crore initial public offering, will make its stock market debut on Monday. Read More

Number of taxpayers rises nearly 14%, but returns filed fall 2% in FY19

The number of Income Tax returns filed fell by almost two per cent, while those filing returns and the number of taxpayers rose 16 per cent and around 14 per cent respectively in the 2018-19 financial year, according to a new set of data released by the direct taxes board. Read More

Fuel payment issues with oil PSUs will be resolved soon: Air India

State-owned Air India on Sunday said the aviation jet fuel payment issues are being sorted out and will be resolved soon with the oil PSUs, which have warned the carrier of snapping supplies at six key airports if it does not make monthly lump sum payment by October 18. Read More

Despite economic slowdown, realty majors hope to cash in on festivities

Despite the prolonged slowdown in the real estate sector, listed property developers are hoping to see a significant uptick in sales in the ongoing festive season. Read More

DHFL Inks Pact to Sell Its Entire Wholesale Book

Dewan Housing Finance Corp. Ltd (DHFL) has signed a nonbinding term sheet with Oaktree Capital to sell its entire Rs 35,000-crore wholesale book, reports Economic Times. The agreement is valid until February. Banks have signed the inter-creditor agreement (ICA) and are working on the resolution proposal submitted by DHFL management, including converting part debt into 51% equity. This will see the stake of the Wadhawan family, the promoters, halve to 20%.

Govt set to crack down on GST defaulters

A government panel will discuss on Tuesday ways to intensify enforcement activities against goods and services tax (GST) defaulters who have been identified by a fraud detection software, amid GST collections dropping to a 19-month low in September, reported Mint.