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Top 10 biz headlines: GDP growth estimates, Vodafone woes, and more

From govt's Rs 25,000-cr realty fund to Videocon case, here are the top ten business headlines for the day

BS Web Team 

AGR shock for Vodafone-Idea balance sheet as promoters may not fund dues

Economists estimate India's July-September GDP growth at 4.2-4.7%

A severe contraction in factory output has prompted observers of the Indian economy to downsize their estimate of the pace at which it could have grown in the July-September quarter (Q2 FY20). So much, that most of them have put the headline number at 4.2-4.7 per cent. But this time around, services sector activity, too, has pulled down growth in Q2, they said. Read more.

Vodafone CEO says India venture is at risk of collapse after AGR ruling

Vodafone Group Plc’s Indian venture may be headed for liquidation unless the government eases off on demands for mobile spectrum fees, the phone company’s chief executive officer said. Read more.

Videocon case: Kochhar yet to return ICICI Bank bonus despite reminders

Former ICICI Bank managing director (MD) and chief executive officer (CEO) Chanda Kochhar has so far not abided by the order of the bank to return the money she had got as bonus and the stock options between April 2009 and March last year. Sources say Kochhar is yet to pay back despite reminders. Read more.

Govt's Rs 25,000-cr realty fund may see some 'structural challenges'

The special fund announced by the finance minister could face some challenges due to its structuring, said private equity fund managers and consultants Business Standard spoke to. Srini Sriniwasan, managing director at Kotak Investment Advisors, said although the government has the right intentions, the devil is in the detail. “The positive net-worth criteria are a non-starter," he said. Read more.

Bharti Airtel bids for RCom spectrum, Jio seeks deadline extension

The Bharti group, through two of its companies, on Tuesday made a conditional bid for the spectrum of Reliance Communications (RCom) even as Reliance Jio asked for an extension of the November 12 deadline to make an offer under insolvency proceedings. Read more.

Good days for Britannia Industries amid a slowing consumption environment

While Britannia Industries’ September quarter (Q2) top line fell a tad short of analysts’ expectations, its profit before tax (PBT) beat estimates, helped by a 55 per cent year-on-year (YoY) jump in other income. Read more.

Tata Motors global wholesale volume skids 19% to 89,108 units in October

Tata Motors on Tuesday reported 19 per cent decline in global wholesales, including that of Jaguar Land Rover, to 89,108 units in October. The auto major had sold 1,09,597 units in October last year. Read more.

Lodha group arranges $325 mn to repay bonds maturing in March 2020

Realty firm Lodha Group has arranged $ 325 million (about Rs 2,300 crore) to repay bonds maturing in March next year through infusion of funds from promoters, sale of commercial properties and refinancing against unsold inventories in London projects, its MD Abhishek Lodha said on Tuesday. Read more.

Munjal, Kothari in talks to buy 10% each in Yes Bank

According to sources, Sunil Munjal, chairman of Hero Corporate Services Ltd, and Hemendra Kothari, veteran investment banker and founder of DSP Group are in talks to purchase stakes of 5-10% each in the cash-starved Yes Bank Ltd, reports LiveMint.

Three Months After Govt’s Guarantee Scheme, NBFCs Still Awaiting Funds

The Centre's partial credit guarantee scheme, launched three months ago, to increase the flow of funds to NBFCs remains a non-starter with risk-averse banks hesitating to take the lead and NBFCs unsure of who would bear the cost, reports The Economic Times.

First Published: Wed, November 13 2019. 07:05 IST
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