Here are the top 10 business headlines on Wednesday morning
Topics
Top 10 biz headlines | Rahul Bajaj | Axis Bank
BS Web Team |
New Delhi
Last Updated at July 22, 2020 06:57 IST
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