Top 10 Business, Markets News In Under 5 Minutes: BQuick On Feb. 15
Here’s a roundup of the day’s top stories in brief.
1. Fast-Tracking Privatisation
Indian government is considering setting up a body comprising of independent experts that will take over the role of privatising state-run companies once the government decides to divest, people with knowledge of the matter told Bloomberg News.
2. A Fiscal Management Revamp For India?
The government may take a different approach to fiscal policy in the revised Fiscal Responsibility And Budget Management Act. It may consider targeting a range for fiscal deficit and debate whether to continue with debt as a target in the new framework.
3. Sensex Conquers 52,000; Brent Crude Tops $63
The S&P BSE Sensex advanced 1.2% to 52,154.13 and the NSE Nifty 50 Index climbed 1%. Banking shares were the biggest gainers as the gauge extended a rally that saw it surge more than 11% in the previous two weeks while hitting successive record highs.
4. Bubble Or Opportunity?
Has the Indian equity market’s unprecedented rebound from last year’s pandemic-driven selloff to new highs created a bubble? At least three veteran portfolio managers don’t think so. Prashant Khemka, Hiren Ved and Andrew Holland see this as the beginning of a wealth-creation cycle.
5. Hero Wants To Go Premium. But There's A Hitch.
India’s largest two-wheeler maker, known for its budget motorcycles, is searching for a grip in the lucrative market of bigger motorcycles. It has even tied up with Harley-Davidson. But it has an image problem.
6. Jaguar Land Rover Is Going All-Electric
Tata Motors Ltd.’s luxury arm Jaguar Land Rover has laid out plans to electrify its lineup under a new chief executive officer, with the carmaker wanting to ditch gas-powered engines within four years from now.
7. Crypto-Capitalists Keep The Faith
Venture capital firms that backed Indian businesses built around cryptocurrencies find themselves torn between a potential growth opportunity and regulatory uncertainty that could wipe out their investments.
8. Petrol At Rs 89 A Litre In Delhi, Close To Rs 100-Mark In Rajasthan
Petrol and diesel prices on Monday were hiked for the seventh day in a row as a rally in international oil prices took retail rates in India to new highs. Petrol price was increased by 26 paise per litre and diesel by 29 paise, according to a price notification of state-owned fuel retailers.
9. Wholesale Inflation At 11-Month High
The Wholesale Price Index-based inflation stood at 2.03% in January 2021 compared with 1.22% in December. This was the highest since February as prices of manufactured goods rose.
10. India Eases Rules For Surveying, Mapping
India ended restrictions on cartography and geospatial information to help local entities generate, distribute and store topographical data. This will also enable apps that use location-based data to provide additional services.