Top 10 biz headlines: NBFCs bailout likely, sops in Maharashtra & more

From credit card spending to RIL's Rs 10-trillion m-cap, Business Standard brings you the top business headlines of the day

Budget 2020 may see UPA-style bailout of stressed NBFCs

The government has strongly advocated direct intervention by the Centre in stressed non-banking financial companies (NBFCs) on the lines of the model followed by the United Progressive Alliance (UPA) government under then finance minister Pranab Mukherjee in 2009. Read here

Sops galore in Maharashtra 

The Maharashtra Vikas Aghadi government, which took oath of office at Mumbai’s Shivaji Park on Thursday evening, has promised to enact a law to reserve 80 per cent of jobs in the private sector for “local/domicile” youths. It has also promised loan waivers for farmers. Read here

Karvy Stock Broking moves SAT against Sebi order

Karvy Stock Broking has approached the Securities Appellate Tribunal (SAT) against the Sebi order that barred it from taking up new clients. Read here

SBI Caps to give report on four bidders for Anil Ambani's RCom

SBI Caps has finalised a detailed evaluation of the bids of the four companies that have offered to buy Anil Ambani’s telecom business. The report will be presented to the committee of creditors (CoC) on Friday to take a final call on the potential best offers. Read here

Nearly 500 listed companies can't meet interest outgo from their earnings

A total of 484 listed non-financial companies have an interest coverage ratio lower than 1, indicating their earnings are not enough to meet their interest payments. Read here

GST e-invoicing must for businesses with Rs 100-cr turnover

From April 1 next year, electronic invoicing (e-invoicing) will be mandatory for businesses with a turnover of Rs 100 crore, the government said on Thursday. Read here

RIL creates history

Mukesh Ambani-led Reliance Industries’ (RIL’s) market value on Thursday surpassed the Rs 10-trillion mark, making it by far the most-valued listed firm in the country and 64th globally. Read here

BNP Paribas, Credit Suisse sound a note of caution on record market run

A slowing economy hasn’t stopped India’s benchmark equity index from climbing to a series of records this year, but this divergence may have run its course, according to BNP Paribas. Read here

Q2 Sees Revival in Rural Demand for Groceries

Demand for daily household products and groceries in rural markets recovered sharply in the September quarter, according to data from a consumer research firm, even as economic growth is likely to have slipped further in the quarter, according to the Economic Times

BPCL gets Cabinet approval for additional equity investment in E&P arm

The Cabinet Committee on Economic Affairs (CCEA) is understood to have given its nod for additional investment of $2,670 million by Bharat Petro Resources Ltd (BRPL), a wholly-owned subsidiary of Bharat Petroleum Corporation Ltd (BPCL), for a LNG project in Mozambique, the Hindu Business Line reported