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Top 10 biz headlines: RBI's relaxation for banks, Sensex amid US-Iran issue

From TCS board meeting to NCLAT's Tata-Mistry case, here are the top 10 business headlines for the day

BS Web Team 

RBI, Reserve bank of india

RBI's relaxation for banks to lend Rs 3.5 trillion extra set to end

The Reserve Bank of India (RBI) may not extend the relaxation given last year to banks to comply with its capital conservation buffer (CCB) norm of 2.5 per cent by the end of 2019-20 (FY20). The Centre has to take this aspect into account when it pencils in the recapitalisation amount for state-run banks for FY21. Read more.

Sensex falls 788 pts amid US-Iran tensions, Nifty ends below 12,000-mark

Domestic equities slumped on Monday and posted their biggest fall in four months as investors dumped stocks amid worries about the impact of escalating US–Iran tensions on crude oil prices and its implications for the rupee and fiscal deficit. Read more.

Why don't you resolve differences together: SC to Nusli Wadia, Ratan Tata

The Supreme Court on Monday asked Bombay Dyeing Chairman Nusli Wadia and Ratan Tata, chairman emeritus of Tata Sons, to sit together and resolve their differences in a defamation case. Read more.

Synergy Group gives new expression of interest for beleaguered Jet Airways

South America-based Synergy Group has again given a formal Expression of Interest (EoI) for beleaguered Jet Airways, sources said. The latest deadline for EoI applications is January 15, the Committee of Creditors (CoC) had decided at their latest meeting. Read more.

TCS board won't meet on January 9; Q3 results likely after SC hearing

Tata Consultancy Services (TCS) will not be the first one to kick-start the earnings season among information technology (IT) services firms in the third quarter (Q3) of 2019-20. The IT bellwether is learnt to be waiting until the Supreme Court (SC) hears its plea over the Company Law Appellate Tribunal’s (NCLAT’s) order on the reinstatement of Cyrus Mistry. Read more.

NCLAT upholds its judgment in Tata-Mistry case, dismisses RoC plea

The Company Law Appellate Tribunal (NCLAT) on Monday dismissed the petition of Registrar of Companies, Mumbai, seeking modifications in the Tata Sons versus Cyrus Mistry judgment, as no mala fide intentions have been made against the government body, its order said. Read more.

Tata Steel 'can't keep funding losses' at UK's Port Talbot plant: Chairman

The chairman of the Tata group N Chandrasekaran has said the steel conglomerate cannot have a situation where India keeps funding the mounting losses at its struggling Port Talbot steelworks in the UK. Read more.

Gold price, valuation hurdle for Titan stock; firm outperforms market

On a day when the broader markets were down 2 per cent, Titan remained the sole large-cap stock in the Sensex ending in the green. The stock was up 1.7 per cent after it announced double-digit sales uptick for its jewellery segment in the December quarter. Read more.

Top cancer drugs may come under price control

Popular biosimilars for cancer cure like bevacizumab or trastuzumab and treatments like immunotherapy may get incorporated in India’s revised List of Essential Medicines (NLEM), taking cue from the World Health Organisation’s revised list of essential medicines. This brings a whole new set of oncology medicines and treatments under price control, said sources quoted in a report by The Economic Times.

Boeing reassigns 737 Max workers with factory shutdown looming

Boeing Co. has begun handing out new work assignments to the 3,000 workers who will be affected by the temporary production halt as it plans to shut down its 737 Max assembly lines in mid-January, the manufacturer told employees Monday, reports LiveMint.

First Published: Tue, January 07 2020. 07:12 IST