Top 10 business headlines: Jio GigaFiber launch, Jet Airways crisis, more

From Lakshmi Vilas bank-Indiabulls merger to delay in stake sale process of cash-starved Jet Airways, Business Standard brings you top 10 business stories that made news on Saturday

 Business Standard brings you top 10 business stories that you need to read this morning.

Next wave of DTH consolidation imminent as Jio GigaFiber readies for launch

The next wave of consolidation in the direct-to-home (DTH) market could be in the offing this year as Jio GigaFiber readies for commercial launch. The last round of consolidation was triggered in 2017, when Dish TV merged with Videocon d2H, and Reliance Big TV was acquired by Delhi-based Veecon Media and Television. Read more 

Bidding for Jet Airways delayed, banks await RBI nod on debt conversion

A lack of clarity on the impact of the Supreme Court order quashing the Reserve Bank of India’s (RBI’s) February 12, 2018, circular has delayed the stake sale process of cash-starved Jet Airways. Sources aware of the development said banks were still awaiting approval from the RBI on the legality of debt-equity conversion at Rs 1. As a result, the process of bidding, which was scheduled to start on Saturday, could not take off. Read more

Lakshmi Vilas bank-Indiabulls merger came as surprise, says bank union

The Friday evening announcement of private sector lender Lakshmi Vilas Bank merging with non-banking finance company Indiabulls Housing Finance came as a surprise to the bank’s employees. The employees’ union is meeting the management on Monday to clarify doubts and will hold a meeting on Tuesday to come out with its stand on the merger, said top officials from the The Lakshmi Vilas Bank Employees' Union (LVBEU). Read more

India to become third largest economy by 2030, says Arun Jaitley

Finance Minister Arun Jaitley on Saturday said India is expected to become the third largest economy in the world by 2030 with GDP touching $10 trillion, helped by consumption and investment growth. Read more

Asian Paints counting on core business, allied segments to drive growth

Consumer goods major Asian Paints is putting the building blocks in place to capitalise on the growth momentum in the market. The firm is likely to post its fifth straight quarter of double-digit sales volume growth for the three months ended March 2019, with analysts pegging the number to be between 15 and 20 per cent. Read more

Thermal coal prices fall, Indian power plants to see limited gains

Thermal coal prices are on a downward spiral globally. Australian coal prices have fallen nearly 20 per cent in the past week, and 40 per cent from their peak of 2018, according to Reuters. Read more

Branded apparel makers post steady profit growth in December quarter

Branded apparel makers reported a steady increase in their profit margins in the December quarter on the back of increased sales in the festive season. Read more

Shareholders fear Amara Raja may lose pace after ending Johnson tie-up

Amara Raja Batteries Ltd’s stock fell 6% over the last two trading sessions on news that it has terminated its shareholder agreement with Johnson Controls International Plc., its technology partner since 1997. The sharp fall in the stock came even as Indian equity markets scaled record highs this week, reports Livemint.

DDA to help residents in upkeep of buildings

Delhi Development Authority is going to help residents of all DDA colonies in carrying out maintenance of residential buildings and neighbourhood parks on the lines of online home service providers, reports Economic Times.

India trailing behind last year in tea production

Despite its improved performance in February, the cumulative production of the Indian tea industry in the first two months of the current calendar is trailing behind the corresponding period of 2018 due to the nil production in January in North India, reports The Hindu BusinessLine.