Top 10 biz headlines: Import duty hike, Maruti cuts production, and more

From Import duty hike to cut in Maruti's production, BS brings you top 10 business stories that made news on Sunday

1) Mindtree taps institutions to fend off L&T's hostile takeover bid

The Bengaluru-headquartered firm said its board would consider a share-buyback proposal in its next meeting scheduled for March 20. Read on...

2) Centre likely to hike import duty on consumer durables yet again

It is learnt that the Ministry of Commerce is considering a proposal to increase Customs duty on compressors for ACs and refrigerators and pre-coated steel sheets and copper tubes used in making condensers, among others. Read on...

3) SpiceJet likely to operate grounded aircraft of debt-laden Jet Airways

SpiceJet wants 12-13 planes. Depending on the duration of the 737 MAX grounding, it may take more,” said a person aware of the development. Read on...

4) Binny Bansal may shift to Singapore for deeper role in start-up world

Since his unceremonious exit from Flipkart in November last year, Binny has kept away from the limelight and was said to be contemplating his next move. Read on...

5) Maruti Suzuki cuts production by a quarter on slow demand in Indian markets

This is in sharp contrast to a positive trend in the past several years, including double-digit growth for the last four years. Read on...

6) Panel on cards to ensure no turf war among CCI, other regulators

The Telecom Regulatory Authority of India, Central Electricity Regulatory Commission, Insurance Regulatory and Development Authority and Petroleum and Natural Gas Regulatory Board will be part of this forum, which will resolve disputes with the CCI. Read on...

7) From Mitsubishi Corp to Mitsui, Japanese firms set sights on Indian realty

The big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.

8) Shapoorji Pallonji gears up to list solar EPC biz

Shapoorji Pallonji Group will soon file draft documents with the markets regulator to raise ₹4,000 crore by selling shares in its solar engineering, procurement and construction (EPC) business to the public for the first time, reported Livemint.

9) Rupee payment for Venezuelan oil under consideration 

India is considering Venezuela’s proposal to use rupee for trade payments to protect the current oil import from the South American nation facing hardening US sanctions, reported Economic Times.

10) Terminal illness: How passengers have been hit by flight cancellations

From about 1 in every 1,000 in 2017, the number of domestic passengers affected by flight cancellations in 2018 rose to more than 2 in every 1,000. This number shot up to 3 in every 1,000 in January 2019 and is certain to have increased in February and March 2019 when the woes at Jet, IndiGo and SpiceJet manifested, reported Businessline.