Top headlines: Future Retail files caveat in HC, US poll effect on markets

From how markets will react to US elections to Adani group being favourites for Sri Lanka port, Business Standard brings you the top headlines of the day

Future Retail files caveat before Delhi HC against any early move by Amazon

Kishore Biyani led-Future Group has filed a caveat before the Delhi High Court requesting it to be heard if any plea is filed by e-commerce major Amazon over its Rs 24,713 crore deal with Mukesh Ambani-led RIL. Anticipating a move by Amazon, which had got an interim arbitration award in its favour, putting the announced deal on hold, the Future Group firm has moved the Delhi High Court. Read More...

US Elections 2020: What's in store for Sensex, Nifty and other key indices

The domestic equity market was trading over a per cent higher in the morning deals on Tuesday, ahead of the much-anticipated US presidential election due later in the day. The benchmark S&P BSE Sensex reclaimed the crucial 40,000 level to trade at 40,261 points while the NSE's Nifty was hovering around 11,400 levels. As per reports, Democratic rival Joe Biden is ahead in national opinion polls, but races are tight in battleground states that could tip the election to Donald Trump. Read More...

Adani Group frontrunner for developing Sri Lanka's port terminal: Report

India’s Adani Group is the front-runner to develop Sri Lanka’s stalled East Container Terminal in Colombo port, people with knowledge of the matter said, helping billionaire Gautam Adani expand his port business overseas. Adani Ports and Special Economic Zone Ltd. and a local partner received an in-principle approval to sign a deal with Sri Lanka Ports Authority, which will hold majority stake in the project, the people said, asking not to be identified citing rules for speaking with the media. Read More...

Bank of Baroda withdraws order reducing free cash transactions

State-owned Bank of Baroda has reversed its decision to reduce the maximum number of free cash transactions every month, the finance ministry said in a statement on Tuesday. The finance ministry came out with a statement following “several media reports alluding to steep increase in service charges by certain public sector banks.” It stated that among the state-owned banks, only Bank of Baroda had decided to lower the cap on free cash deposits and withdrawals from 5 to 3 in a month. Read More...

GST borrowing to meet states shortfall must be reasonable: Finance Secy

The quantum of borrowing to meet states' GST revenue shortfall has to be "reasonable" considering its economic impact and the Centre will continue to request the opposition-ruled states to opt for the proposed borrowing plan, Finance Secretary Ajay Bhushan Pandey has said. He said while extending the loan, the Centre would take authorisation from states that repayment would be made only from the GST compensation cess which is being collected and repayment schedule will be set in such a manner that the collections in cess pool post June 2022 would be enough to repay the interest arising out of borrowing. Read More...