Toyota Baleno, ITC, Infosys to Fiscal deficit target, here are top business highlights
A number of top happenings in the business sphere on Sunday hit the headlines on Sunday and the top one among these were that a fiscal deficit of 3.3% would be a challenge for the Centre amid low GST collection, the market cap of top-10 most valued firms added up to Rs 43,689 cr and more. Here are the highlights here:
FISCAL DEFICIT
3.3% fiscal deficit target for 2018-19 likely to be breached, say experts New Delhi: Meeting the fiscal deficit target of 3.3 per cent of GDP for the current fiscal could be a challenge for the government, given the shortfall in GST collections, rising expenditure and slowing factory output, say experts. (Reuters)
STOCKS-MCAP
Five of top-10 most valued firms add Rs 43,689 cr in m-cap last week New Delhi: Five of the top-10 most valued firms together added Rs 43,689.89 crore in market valuation last week, with ITC and Infosys contributing most to the overall gain. (Pixabay)
FPI-OUTFLOW
FPIs turn net sellers in Jan; pull out Rs 3,600 cr in just 9 sessions New Delhi: Foreign investors have pulled out more than Rs 3,600 crore from the Indian equity markets in the last nine trading sessions, adopting a cautious stance towards the country. (Pixabay)
DISINVESTMENT-SUUTI
FinMin may sell part of SUUTI holding in Axis Bank, ITC New Delhi: The Finance Ministry may consider selling part of its stake in Axis Bank and ITC, held through SUUTI, in next few months, an official said. (IANS)
TOYOTA
Toyota plans to launch its version of Baleno in India next fiscal New Delhi: Japanese auto major Toyota is gearing up to launch its version of Suzuki's premium hatchback Baleno in the Indian market in the second half of next fiscal, according to sources. (Reuters)
RBI-DOLLAR
RBI net-seller of dollars in Nov, unwinding USD 644 mn Mumbai: The Reserve Bank remained a net seller of dollars in November 2018, as it sold USD 644 million of the greenback on a net basis in the spot market, according to the latest data from the Central bank. (Reuters)
GST-COMPOSITION-CONSUMER
FinMin considers steps to prevent composition dealers from charging GST from buyers New Delhi: In a consumer-friendly measure, the revenue department is planning to make it mandatory for composition dealers and service providers to declare their GST registration status in invoices to ensure that they do not charge any tax from buyers. (IANS)
NCLT-PARSVNATH
NCLT admits insolvency plea against Parsvnath Landmark Developers, appoints RP New Delhi: The National Company Law Tribunal (NCLT) has given its approval to start the insolvency proceedings against realty firm Parsvnath Developers' subsidiary, which is developing a housing project in the national capital. (PTI)
COMPANIES LAW-ORDINANCE
Govt re-promulgates ordinance to amend companies law New Delhi: The government has re-promulgated an ordinance to amend the companies law to further improve the ease of doing business as well as ensure better compliance levels. (Pixabay)
HOUSING
Housing sales up 7% in 2018 in 9 major cities; new supply falls 22%: Report New Delhi: Increased demand for flats that are ready to move in or nearing completion helped housing sales to rise by 7 per cent during 2018 to nearly 2.15 lakh units across nine major cities, according to data analytic firm PropEquity. (Pixabay)