Top Headlines: Bankers’ moratorium worry, govt’s strategic sectors and more

Here are the top 10 business headlines on Wednesday morning

Topics

Top 10 biz headlines | Rahul Bajaj | Axis Bank

Khaitans likely to join hands with Burmans

The Burman family — the promoters of Dabur India — may join hands with the Khaitans of Williamson Magor Group to manage the country’s largest dry cell battery maker, Eveready Industries India. Read More

Agriculture driving growth; open to more measures: FM

Finance Minister Nirmala Sitharaman on Tuesday said green shoots were visible in the economy and the agriculture sector was driving growth. The government, she said, had kept all options open in terms of future interventions to boost the economy. Read More

GSK merger helps HUL’s top line

Hindustan Unilever (HUL), the country’s largest consumer goods company, on Tuesday reported a mixed set of numbers for the quarter ended June 30, 2020 (Q1), aided in part by its merger with GSK Consumer on April 1. Read More

Axis Bank Q1 profit down 19% on higher provisions

Private sector lender Axis Bank Ltd on Tuesday reported a 31.29 per cent year-on-year drop in profit before tax for the first quarter ended June 30 on higher provisions booked in the current quarter, and also due to moving towards a more conservative mode of accounting. Read More

Govt plans to lease out dedicated freight corridor tracks to private firms

The Centre is working on a comprehensive plan for asset monetisation of the dedicated freight corridors (DFCs) by leasing out rail tracks to private players to run trains and rope in existing telecom players to use its optic fibre network, among other measures. Read More

Bankers divided on extending moratorium

The banking sector is divided on extending the moratorium on loan repayments yet again. SBI Chairman Rajnish Kumar has dismissed the need for further relaxation on repayments, with initial estimates — pertaining to the impact on banks’ asset quality in FY21 — causing much worry. Read More

Construction workers to soon get migration certificates

The central government has proposed issuing migration certificates to construction workers so that they continue to receive benefits of various welfare schemes even after they migrate to another state for work. Read More

Jet Airways receives resolution plan from two bidders

Jet Airways has received resolution plans from at least two of the four shortlisted entities that made the cut in the fourth round, thereby raising hopes for a revival of the beleaguered airline. Read More

Rahul Bajaj steps down as Bajaj Finance’s chairman

Sanjiv Bajaj will be new non-executive chairman of Bajaj Finance from August 2020. He will succeed Rahul Bajaj, who has been at the helm of the company since its inception in 1987 and the group for over five decades. Read More

Govt to soon come out with a list of strategic sectors

In line with the ‘Aatmanirbhar Bharat Abhiyan’ package, Economic Affairs Secretary Tarun Bajaj on Tuesday said the government will soon come out with a list of strategic sectors, and public sector companies in non-strategic sectors will be privatised. Read More