Top Headlines: Biz from China, Mumbai realty, race for Sebi chief, and more

Here are the top business headlines on Tuesday morning

Reliance, Sterlite, TechM set to power next-gen 5G telecom networks

Three Indian giants — Anil Agarwal-run Sterlite Technologies, Reliance Industries-controlled Radisys, and Tech Mahindra — are developing software, manufacturing, and systems integration capabilities to power the building of the next-generation of ‘virtualised’ 5G telecom networks. The move entails moving from the current hardware-dependent networks to ones that will be software-centric with hardly any dependency on the underlying hardware. Read More

Green shoots of economic revival have emerged, will grow further: Govt

The government on Monday said green shoots have emerged and will grow further on the back of a conducive policy environment, nudging the coronavirus-hit economy to move on the path of recovery and growth. Read More

India reviewing around 50 investment proposals from Chinese firms: Report

The government is reviewing around 50 investment proposals involving Chinese companies under a new screening policy, three sources familiar with the matter told Reuters. Read More

Sequoia raises $1.35 billion to invest in India, Southeast Asia startups

Silicon Valley-based venture capital firm Sequoia’s Limited Partners, have collectively committed $1.35 billion to two new Sequoia India funds. This includes a $525 million venture fund and $825 million growth fund, according to Sequoia India managing director Shailendra Singh. Sequoia is an early investor in companies like Apple, Google, Oracle and WhatsApp. Read More

Race for next Sebi chief hots up again

The race to head the Securities and Exchange Board of India (Sebi) is hotting up once again as Chairman Ajay Tyagi’s tenure ends next month. The Insolvency and Bankruptcy Board of India’s (IBBI’s) chief Madhusudan Sahoo and Sebi Whole-time Member (WTM) Madhabi Puri Buch are believed to be the top contenders to succeed Tyagi. Read More

Developers struggle for funds, prices crash, buyers wait

“Today developers are ready to sell at Rs 40,000 per square (sq.) foot (ft). Last year, they were selling at Rs 50,000 per sq. ft,” says Sudha Kumari, a real estate broker in the Dadar East area of Mumbai. That is 20 per cent lower than last year’s prices. “Developers are worried about their loans. Read More

50% pay cut at Bajaj Auto's Waluj plant in Aurangabad

Employees of Bajaj Auto’s Waluj plant in Aurangabad will see their salaries being cut by half during a nine-day lockdown starting later this week, according to people in the know. Read More

Despite poor show in Q4, India Inc's combined dividend payout rises 6.5%

The current dividend season has turned out to be unexpectedly generous for equity players despite a poor showing by India Inc in the fourth quarter and financial year ended March 2020. The combined dividend payout by India’s top listed companies, which are part of the BSE500 Index, for FY20 was up 6.5 per cent, the fastest growth in the past three years. Read More