BQuick On Dec. 29: Top 10 Stories In Under 5 Minutes
Here’s a roundup of the day’s top stories in brief.
1. Tata Hikes Stake In AirAsia India
AirAsia Group Bhd. is selling its 32.7% stake in AirAsia India Ltd. to its partner Tata Sons Ltd. for about $38 million. Post the transaction, Tata will hold 83.67% stake in the airline.
2. Oaktree And Piramal Lock Horns Over DHFL
The bidding war for assets of Dewan Housing Finance Corp. continued to escalate with the Piramal Group urging financial creditors of the insolvent firm to not consider amendments made by Oaktree Capital in their offer.
3. Ambani Sold A Dream. Now’s The Time To Deliver.
Mukesh Ambani spent much of 2020 convincing Facebook, Google and a clutch of Wall Street heavyweights to buy into his vision for Reliance Industries Ltd.’s digital makeover. Now flush with funds, India’s richest man is under pressure to deliver.
4. Sensex's Five-Session Winning Streak
Indian stocks rose for a fifth straight day, with the S&P BSE Sensex closing 0.55% higher, and the NSE Nifty 50 gaining 0.43%.
Globally, stocks rose as the U.S. House of Representatives backed Donald Trump’s proposal to boost stimulus checks to $2,000 from $600.
5. Covid-19 Impact On Bank Books Remains Hidden: RBI Report
Gross non-performing asset ratios of certain leading banks should have been higher by 19-60 basis points, if they had continued to report bad loans normally, Reserve Bank of India said in its ‘Report on Trend And Progress of Banking in India’.
6. Developers Will Rely On Affordable Housing More Than Ever Before
More than 7.7 lakh affordable homes—each worth less than Rs 45 lakh—will be added by the end of 2023 in the top seven cities.
7. Nomura Expects Auto Firms To Gain From PLI Scheme
Select auto and auto component makers are expected to benefit from the government’s Rs 1.46 lakh crore incentive programme to set up manufacturing in India. Find out Nomura’s picks.
8. Delhi Airport Says It’s Ready For Vaccine Challenge
Distributing vaccines across India will pose numerous logistical hurdles due to the size and vast population of India. But the country’s busiest airport has said it is completely ready to handle Covid-19 vaccines.
9. The Only Number That Mattered To The Markets
The remarkable rally in global risk assets this year comes down to one number: $14 trillion.
10. Rajinikanth's U-Turn
Prominent actor Rajinikanth said he will not join politics and start a party due to his frail health.