BQuick On Dec. 16: Top 10 Stories In Under 5 Minutes
BQuick | Top news, must-read stories and columns – all served up in less than 5 minutes.
Here’s a roundup of the day’s top stories in brief.
1. Sugar Subsidy, Spectrum Auction, 'Trusted' Telecom Suppliers
The Indian cabinet approved a proposal to reduce subsidy on sugar exports by nearly half amid surplus production.
The government will also conduct its next round of telecom spectrum auctions in March. But 5G is still not up for sale.
The cabinet also said it will mandate network service providers to buy equipment only from specified “trusted” sources.
2. DHFL’s Bonds Attract Adventurous Investors
A clutch of investors have shown interest in the high-risk bonds of DHFL Ltd. that are trading in small lots at yields higher than 100% at times. More details here.
3. Salaries Are About To Get Bigger And Smaller
The new labour codes could reduce your in-hand salary but enhance social security benefits. BloombergQuint explains how.
4. Bitcoin Surpasses $20,000
Bitcoin surpassed $20,000 for the first time, another milestone in what’s been an eye-popping rally for the controversial digital asset this year.
5. Sensex Rises 400 Points
Indian equity markets saw yet another record close as benchmarks shrugged off three days of little movement to end near the highest point of the day.
Related Coverage
Mrs. Bectors IPO continues to see strong demand on day 2.
Morgan Stanley’s outlook on key sectors and market for 2021.
Bajaj Finance’s journey from 52-week low to record high.
Deepak Nitrite hits a record on higher phenol spreads.
6. U.S. Federal Reserve: Decision-Day Guide
The U.S. Federal Reserve is expected to keep interest rates between 0-0.25%—where they have been since March—but investors will be eyeing some fresh guidance on its bond-buying programme.
7. SEBI Tweaks Shareholding Norms For Companies Under Insolvency
India’s market regulator has tweaked norms pertaining to the 25% minimum public shareholding for companies that undergo corporate insolvency and seek to relist. It has also amended rules for follow-on share sales and mutual funds.
8. Auto-Parts Industry: More Pain In Store
Indian auto-parts makers, who have witnessed a double-digit contraction this year, would take three-four years to return to growth, according to the Automotive Component Manufacturers Association.
9. Blue Star ‘Debunks’ Need For Massive Investments To Transport Vaccine
One of India’s largest refrigeration companies thinks storage, transportation and administration of Covid-19 vaccine won’t require as big investments as it is being portrayed.
10. Human Development Index: India Falls Further
India slipped two more places in the Human Development Index to 131, out of 189 countries, mainly due to worsening health, education and income parameters.