Month: May 2020

20 Lakh Crore Worth of Economic Package to be Infused for a Self-Reliant India

Prime Minister Narendra Modi said the government will announce a large economic package and bold reforms to make India self-reliant and emerge from the setback of Covid-19 disruption. Rs 20 Lakh Crore Economic Package The total package, including fresh measures and the earlier steps announced by the finance minister and the Reserve Bank of India, …

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Tata Consumer Products, IGL, Torrent Pharma, Biocon, Muthoot Finance Likely Candidates for MSCI Index

Global brokerage house Morgan Stanley feels five stocks – Tata Consumer Products, Indraprastha Gas, Torrent Pharmaceuticals, Biocon and Muthoot Finance – are likely to be included in the MSCI India Index with effect from June 1, 2020. From the list of these 5 stocks, Tata Consumer Products stands higher chance of inclusion, said the investment …

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Hero FinCorp in Race to Buy Stake in General Insurance JV

Future Group Reaches Out to True North, Hero FinCopr, Kotak Mahindra Bank to Sell Out Stake in General Insurance JV Retail billionaire Kishore Biyani-backed Future Group, which is saddled with high promoter level debt, has launched preliminary talks with a clutch of strategic and private equity investors to sell its stake in its general insurance …

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SIDBI Comes to the Aid of MSMEs, Set to Launch An All-Encompassing Digital Platform

SIDBI is set to launch an all-encompassing digital platform for MSMEs andSmall Industries Development Bank of India (SIDBI) on Tuesday said that it will be launching an all-encompassing digital platform for MSMEs and other stakeholders of the small business ecosystem to help them grow in the post Covid world. India SME Services Platform — the …

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NBFCs, MFIs Meeting with RBI, Efforts at Resolving Issues that have Hit the Sector

The Reserve Bank of India on Monday met with representatives of non-banking financial companies (NBFCs) and Micro Finance Institutions (MFIs) to discuss various issues concerning the sector. The self-regulated umbrella body for the NBFCs, Finance Industry Development Council (FIDC), has released a note on the key highlights of the meeting with the RBI. Here’s a …

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Reliance Retail Shows Promising Revenue Growth in Q4 Despite COVID-19 Lockdown

Reliance Retail’s earnings before interest, tax, depreciation and amortisation (Ebitda) for FY20 grew 55.7% to Rs 9,654 crore. Reliance Retail’s revenues increased 24.8% year-on-year (y-o-y) to Rs 1.63 lakh crore for the full financial year 2020. Revenue during the quarter grew 4.2% y-o-y despite lockdown-related disruptions in March. Earnings before interest and tax (Ebit) of …

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