News digest: Stock markets, IPOs, Tata Motors, Dr Reddy's, and more

Taxing times for IPOs: LTCG tax prompts issuers to expedite market launch
The reintroduction of the long-term capital gains (LTCG) tax has placed companies coming up with initial public offerings (IPOs) in a quandary. According to sources, about half-a-dozen companies are planning to launch their IPOs before the end of this fiscal year to avoid the tax. However, the downturn in the stock market provides little comfort to bankers and issuers over listing. Read more
Market slide continues as FIIs press sell button on rising US bond yields
Indian and global equities extended the sell-off on Monday, as investors’ risk appetite continued to wane after US bond yields hit a four-year high, raising speculation that the Federal Reserve will raise policy rates more aggressively. Read more

News digest: GST revenue collection, green number plate on e-cars, and more

Taxman plans to match GST invoices to plug revenue leakage

The GST Council may move the sales and purchase invoice matching system to the back end. It will do so to keep tabs on missing transactions and check over-claim of input tax credits in the goods and services tax (GST). Read more

Ola, Uber focus on tie-ups with mass transit firms to tap new users in 2018

After witnessing slowing growth over the past 18 months, India’s ride-hailing bigwigs are partnering mass transit companies. Both Ola and Uber have been tying up with mass transit companies, setting up easy-booking kiosks at metro stations and airports to grow user base. Read more

Modi's aim to contain fiscal deficit: Two options exist, both are painful

Prime Minister Narendra Modi wanted minimum slippage from the fiscal deficit target of 3.2 per cent of gross domestic product (GDP) for 2017-18, sources said. Read more

Electric cars may soon sport green number plates

Indian roads may see a new colour on the number plates of cars — a green one, with the NITI Aayog planning such a move for electric vehicles. Read more
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News digest: Exports rise 30%, Adani to build highways, and more

Exports jump 30%, trade deficit high at $13.8 bn

The GST Council's efforts to resolve exporters' woes on refunds seem to have started yielding results. Exports grew 30.55 per cent in November, a month after it contracted 1.1 per cent, also due to the low base effect and rising petroleum prices. In fact, petroleum products, along with engineering goods, gems and jewellery, and chemicals, drove nearly 80 per cent of the rise in merchandise exports. Read more


Govt okays sops for leather sector, waives fee for small digital payments

The Cabinet on Friday cleared a Rs 2,600-crore proposal to boost job creation in the leather industry, lowered the merchant discount rate (MDR) on transactions up to Rs 2,000 through debit cards, BHIM UPI or Aadhaar-enabled payment systems to promote digital transactions, and approved a series of Bills, including one amending the Specific Relief Act to smoothen enforcement of contracts. Read more

Growth slowdown bottoming out, says RBI governor

While expectations on price rise remain stable for the moment, “considerable caution and vigilance is warranted on the inflation front” but the slowing in growth could be over, said Reserve Bank of India (RBI) Governor Urjit Patel. Read more

Adani group to foray into highway construction sector

The Adani group, which has a presence in the power, coal and maritime sectors, would soon foray into the highway construction sector. Read more
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News digest: Lotte buys Havmor Ice Cream, clouds over Rafale, and more

Insolvency ordinance: Defaulting promoters set to lose their companies

An ordinance amending the Insolvency and Bankruptcy Code (IBC) has practically barred promoters of companies undergoing the resolution process from bidding for their own companies when they are auctioned as part of bankruptcy proceedings. Read more

South Korea's Lotte Confectionery buys Havmor Ice Cream for Rs 1,020 crore

South Korea’s Lotte Confectionery has acquired Ahmedabad-headquartered ice cream maker Havmor Ice Cream Ltd (HIL) for Rs 1,020 crore in an all-stock deal. Read more

Clouds over fighter jet: How much did Rafale actually cost?

Has the Indian Air Force (IAF) paid more per Rafale fighter than what Prime Minister (PM) Narendra Modi had undertaken in Paris whilst announcing his agreement with French President Francois Hollande to buy 36 aircraft from French vendor, Dassault? Read more

Govt vows to keep web access equitable

At a time when the US’ Federal Communications Commission has decided to replace the net neutrality rules, the Indian government has vowed to keep cyberspace equal for everyone and not allow any firm to restrict people’s access to the web. Read more

Over my birthday dinner, the family pledged 10% wealth: Sunil Mittal

Sunil Bharti-led Bharti Group has pledged Rs 7,000 crore, which is 10 per cent of its family wealth, for philanthropy. A large chunk of this will be used to set up Satya Bharti University for Science and Technology, modelled on MIT, Stanford, and Berkeley.
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