Top headlines: Tata largest listed cos promoter; Budget to boost investment

From what CEOs expect from Budget 2021 to Tata Sons overtaking govt as largest promoter of listed companies, here are the top headlines for the day

Tata Sons overtakes govt as largest promoter of listed companies

Tata Sons ended the calendar year as the largest promoter of listed companies in the country, ahead of the central government. For the first time in nearly two decades, the government is no longer the largest promoter group on the bourses, thanks to a double-digit decline in the market capitalisation of government owned and promoted companies during the calendar year. Read here

CEOs expect Budget 2021 to kick-start next wave of investment cycle

With a tumultuous year behind them, chief executive officers (CEOs) in India are eyeing the 2021 Budget to help kick-start the next wave of the investment cycle, which was hit by the Covid-19 pandemic.

Backed by several steps taken by the government and the Reserve Bank of India (RBI) including the debt moratorium scheme, the CEOs are expecting the economy to show growth next fiscal year if India succeeds in its vaccination drive. Read here

Centre's debt touches 56.2% of GDP in first half of FY21, shows data

The Union government’s debt has touched 56.2 per cent of gross domestic product (GDP) as on September 30 this fiscal year against 46.5 per cent at the end of 2019-20. It should be noted that for the purpose of calculating debt as a proportion of GDP, the size of the economy in the second half of 2019-20 is also taken into consideration. Read here

From 5G, Covid-19 vaccine to Tesla, the 10 things that will set 2021 apart

The year 2021 may turn out to be more of the same as 2020 in many ways, but there are at least 10 things that India is expecting to make the year look new. Here’s how. On a vaccine high The Covid-19 vaccine will, of course, top the list.

Not only are pharma majors, regulators and government representatives burning the midnight oil on the subject, even dinner conversations are all about the jab. Read here

What 'Team Biden' means for India's energy and strategic relations with US

Though of the four pillars of the India-US strategic energy partnership, the second one — oil and gas — could see less cooperation and more inspection. But this is not bad news — not yet.

2020, the year that was: Bank frauds, drug hauls kept probe agencies busy

From investigating Rana Kapoor, once the most sought-after bankers, to freezing Amnesty International’s India bank accounts and even rounding up high-profile Bollywood stars, two of the Centre’s premier probe agencies — the Enforcement Directorate (ED) and the Narcotics Control Bureau (NCB) — had a busy 2020. Read here

Govt won't disclose names of Air India bidders after DIPAM's rule change

The government has eliminated the need to disclose the name of entities who have bid for state-owned carrier Air India by any specified time. According to the existing rules of Air India sale process, the government had to inform qualified bidders about the names by January 5. However, the Department of Investment and Public Asset Management (DIPAM) has added a clause that eliminates any deadline by which transaction advisor EY will have to inform qualified bidders. 

Financial stability report delayed as govt wants to 'consult' RBI

The Financial Stability Report (FSR), which was scheduled to be released on Wednesday, has been delayed as the government wants to “consult” the Reserve Bank of India on the stance of the report.

The new date for the release of the report has been tentatively fixed on January 11 next year. Read here

Stock market outlook: Bull run to continue in 2021; Nifty may hit 15,000

Going forward, experts say the market's trajectory in the calendar year 2021 (CY21) will be guided more by developments surrounding Covid-19 and its vaccine, oil prices, global central bank policies, and the US dollar's movement at the global level, corporate earnings and the government's policies to revive economic growth (within and outside the scope of the Budget) amid rising inflation. Read here

Revival path: Credit quality of key sectors unscathed, outlook on the mend

If 2020 began on an ominous note, it appears to be ending with flickers of light. Things have started looking up. Though the pandemic is far from over, the race to deliver vaccines holds out hope.

Key sectors are on the path to recovery as business activity has almost reached pre-pandemic levels. Indeed, while this fiscal will be written off as a year of decline, next fiscal promises to be the one of revival, as demand has begun rebounding. Read here