Vi, Airtel asked to pay Rs 3,000 cr fines in 3 weeks in Jio connectivity issue
In another setback for Vodafone Idea and Bharti Airtel, the DoT has asked them to pay Rs 3,050 crore fines imposed on them in three weeks, reported The Economic Times.Why it’s important: The cumulative fines are for not granting adequate points of interconnection to Reliance Jio Infocomm in 21 circles.
The penalities for Airtel is Rs 1,050 crore and that for Vi is Rs 2,000 crore.
Banks seek RBI directions after Rs 30,000 crore Srei loans turn NPA
A UCO Bank-led consortium has sought RBI instructions for recovering dues from the Srei Group, reported The Economic Times.Why it’s important: Srei Group defaulted around Rs 30,000 crore worth of loans.
But the Group is looking for a debt recast plan that will help them with future cash flows.
Chips demand pushes local investors to buy stocks of global makers
The stocks of chip-making companies are in great demand, The Economic Times.Why it’s important: Semiconductors or chips are in huge shortage all over the world.
Chip manufacturing Nasdaq-listed firms such as AMD and Nvidia are in great demand.
Invesco should be more transparent and open about changing ZEE Board: Harsh Goenka
RPG Group Chairman Harsh Goenka in an interview with The Economic Times said that the tussle battle between the management of Zee Entertainment Enterprises and shareholder Invesco was not good for the corporate environment in India.What Goenka says: Invesco should be more transparent about why it wants to change the company's board.
Corporate activism that leads to good corporate governance is good.
Maruti Suzuki to pull the plug of diesel cars, to push green ride
Maruti Suzuki is planning to junk its plans to go ahead with diesel vehicles, reported The Economic Times.Why it’s important: The move comes after a huge jump in diesel prices as consumers now prefer more petrol cars.
Now, a plan to develop a 1.5-litre diesel engine has also been cancelled.
Future Retail moratorium ends; banks to decide on the future course of action
The moratorium of Future Retail Ltd ended on Thursday as lenders to meet soon to decide the company’s repayment plans, reported Mint.Why it’s important: In case of a default, a decision on whether to refer the firm to a bankruptcy tribunal has to be taken.
But not able to sell non-core assets to infuse funds.
Airtel to invest Rs 5,000 crore in data centre business
Bharti Airtel Ltd is betting big on data and is planning to invest Rs 5,000 crore in its data centre business, reported Mint.Why it’s important: The company plans to triple its capacity by 2025.
Airtel expects the country to become a data centre hub for the Asia-Pacific.
‘Among emerging markets, India stands a good chance of outperforming’
Atul Bhole, senior vice-president for investments at DSP Investment Managers, in an interview with Business Standard, thinks that the markets sustain current levels despite high valuation.What he says: Among emerging markets, India stands a good chance of outperforming.