Today's Paper - 02/03/2021+ Print Archive

Disinvestment: BPCL’s NRL stake sale to fetch over Rs 5,000 crore for Centre

Ahead of privatisation of Bharat Petroleum Corporation (BPCL), the board of the fuel-retailer-cum-refiner on Monday approved sale of the company’s 61.65% stake in Numaligarh Refinery (NRL) which will garner about Rs 5,232 crore to the Centre as special

BPCL

Spectrum auction: Govt gets bids worth Rs 77,000 crore on Day 1

Based on Monday's total bids worth Rs 77,146 crore, the government would receive an upfront amount of about Rs 13,000 crore. Operators need to pay 25% of the total bid amount for spectrum below 1Ghz like 800 MHz, 900 MHz, and 50% for above 1 GHz like 2300

Reliance Jio bought Rs 57,122.65 crore worth of spectrum while Vodafone Idea Ltd picked Rs 1,993.40 crore worth of airwaves.

GST mop-up at Rs 1.13L crore in February

From a monthly low of just over Rs 32,000 crore in April 2020, the collections had gradually picked up; since September 2020, the mop-up has been higher than the year-ago levels and for the last five months, the revenues have been above the Rs 1-lakh-cror

This is a clear indication of the economic recovery and the impact of various measures taken by tax administration to improve compliance,” the government said.

Special offer: State Bank of India home loans now at 6.7%

SBI has a share of 34% in the home loan market and a portfolio of over Rs 5 lakh crore which it hopes to double in the next five years.

Therefore, we believe a highly underpenetrated market — coupled with a higher thrust for digital payments, rising e-commerce, and efforts towards making the economy a cashless one — provides strong structural growth opportunities.

Bank of Baroda document shows stress may be higher than foreseen

To be fair, the BoB management has signalled that the restructuring scheme may have been unable to address stress in the retail and micro, small and medium enterprises (MSME) segments, and there may be pain ahead.

bank of baroda

Uber India’s mobility biz showing recovery led by demand for low-cost products

With the onset of the pandemic last year, ride-hailing firms like Uber and Ola saw a sharp decline in bookings as corporates moved to working from home and people restricted non-essential movements.

Malls may unveil Victoria’s Secret stores as early as next year

“We do not have concrete information yet about the kind of outlet they will introduce here, whether it will only be a beauty store like the ones they have at the airport or if it will be a full lingerie store. If they only set up a beauty store, it will

Railways’ freight loading up 10% in February

Improvement in the speed of freight trains and a number of concessions/discounts given by IR to make freight movement attractive have given a boost to IR’s freight performance. The average speed of freight trains in February 2021 was 46.09 kmph against

This will be enabled by a rise in the average speed of freight trains, commissioning of dedicated freight corridors and discounts on certain items.

Cheque bounce: No criminal proceedings against corporate debtor under moratorium

Disagreeing with the contrary view taken by the Bombay and the Calcutta High Courts, a Bench led by Justice R F Nariman in a batch of cases led by P Mohanraj v. M/S Shah Brothers Ispat Pvt Ltd said that moratorium under Section 14 of IBC also includes cri

Supreme Court of India

An aspirational journey for India’s underdeveloped pockets

The three-year-old Aspirational Districts Programme—following a triple-C framework of convergence, collaboration and competition—has set an example for state governments to extend this template of development to the block or gram panchayat level. The

Budget FY22: Getting health spending right

Spending ‘health & wellbeing’ allocation dependent on third tier of govt; capacity of local bodies must be stepped up

. In addition, in the last three years, urban local bodies have to enhance their revenues to specified levels to be eligible for the grant.

A call to (domestic) arms (manufacturing)

It is now up to India’s stakeholder community to take defence acquisition reforms forward

GDP numbers: Back to positive, but which number to trust?

The govt’s drive to repay past dues is distorting GDP numbers. GVA, which grew more strongly, should be a better indicator of growth over this period

Why was the December-ending quarter GDP growth much weaker than expected (0.4% versus our expectation of +1.8%)?

Cause Effect: American Physical Society won’t hold events in cities with bad records on racially biased policing

Such a decision could mean cities with a poor record would lose out on the large doses of spending injected by thousands of visiting scientists and physics enthusiasts who gather for its annual meetings.

Fix the PSU strategy: PSUs don’t even have the requisite independent directors

Since it will be several years till the government is able to privatise most PSUs, it clearly needs to be working on finding solutions to give PSUs the autonomy they need to function.

BSNL-MTNL merger

Govt needs to free up the vaccination process

By keeping such tight price controls, govt is leaving little incentive for those delivering the vaccine to crores

Assuming the Rs 35,000 crore budget was for 30 crore persons, that’s Rs 1,166 per person or around Rs 500-600 per dose, including costs of transportation, storage and delivery; even that has now been halved!

OMCs not lifting enough ethanol in some states: ISMA

“Sugar mills are “facing difficulties in lifting of ethanol by OMCs”, even though they have allocated about 325 crore litres of supplies in 2020-21. It seems that OMCs and their depots are not fully geared up, especially in newer depots and states,

Sugar mills said they are incurring losses to the extent of Rs 3-5 per litre for such long-distance transportation of ethanol.

Analyst Corner: Maintain ‘buy’ on Tata Motors; JLR pivots to EVs

Jaguar brand will be positioned as an all-electric (by FY25) modern luxury brand with focus on radical design and best-in-class technology to attract a younger customer base vis-à-vis its past. The management also expects ~60% Land Rover sales to come fr

We have raised our JLR EBIT margin estimate to 6.0% (earlier: 5.3%) for FY23, yet well below the management guidance of ≥7% EBIT margin in FY24.

Analyst Corner: Maintain ‘buy’ on BPCL with target price of ₹550

Divestment, delays and lukewarm interest, still looks likely to complete in FY22F; BPCL’s divestment, initially planned for FY20, has been delayed. Investor interest has also been lukewarm. We believe the current environment is not the best one to fetch

Still, the government appears to be keen, and we expect divestment in FY22F.

Covid Impact: Tablets make a comeback in 2020

Tablet shipments in India clocks growth in 2020 after declining for 4 consecutive years

On the other hand, Samsung was the top gainer in 2020 as its strong control on component supplies helped to gain a 13-percentage point jump in market share.

Your Queries: Loans – Interest rate will not change if you opted for a fixed rate home loan

Interest rate will be constant only if it was at a fixed rate. Ask your bank specifically as to how much the current interest rate is.

In this case you and other aggrieved parties may have to send legal notice and subsequently apply for legal action against the builder. The PMAY subsidy once availed cannot be applied for again.

Finance Minister Nirmala Sitharaman outlines govt’s boost to biotech sector

Speaking at a CII event, the minister said the country was able to quickly build up the capacity for testing, reflecting its efforts towards self-reliance. Also, today various countries are looking at India for the supply of vaccines.

Even the actual allocation for the ministry of health and family welfare has been raised by 9.6% for FY22 and that of the Ayush ministry by a whopping 40%, she had said.

Tax Talk: Which is better for you? LTC cash voucher or LTA carry forward option

During 2020, due to the COVID-19 pandemic, such LTC (leave travel concession) related travel was not possible. The government introduced an alternate way to avail this exemption by procuring goods or services subject to a set of conditions.

Mutual Funds: Should retail investors look at Fund of Funds?

Those who wish to invest in multiple mutual fund schemes can consider investing in FOFs. But hold on to your investments in FoFs for more than three years to reap good returns

Prime Minister Narendra Modi calls for ‘food processing revolution’

Addressing stakeholders of agriculture, dairy and fisheries from both public and private sectors (including cooperatives) at a webinar on Budget provisions related to this segment of the economy, Modi said: “Today, it is the need of the hour that the fa

As India’s agriculture research is dominated by public sector institutes led by the Indian Council of Agricultural Research (ICAR), Modi said that there is need to increase private sector participation.

PLI Schemes: PM Modi to meet industry captains on March 5

Shedding the historical, costly bias in favour of small companies, the government has earmarked big bucks for big firms under the PLI schemes. The total incentives under 13 such schemes, covering sectors including telecom, electronics, auto part, pharma,

The idea was to lure mainly large companies to create “global champions” out of India that have the potential to grow in size using cutting-edge technology and can, thereby, penetrate the global value chains.

Indian Oil Rating: Buy – Retail hikes allay concerns for company

Refining outlook remains weak; FY21e EPS up 56% on inventory gain, petchem prospects; upgraded to Buy with TP going up to Rs 130

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