Here’s a roundup of the day’s top stories in brief.
1. India’s Auto Sector Runs Into New Hurdle
Shortage of shipping containers and rising freight costs are threatening to derail the automobile sector’s nascent sales recovery. Read the BQ Blue exclusive.
2. India’s Digital Shylocks Draw Regulator’s Ire
A digital lender sends you a text message offering you a Rs 1 lakh personal loan within the next 5 minutes. All you need to do is sign up, click through a few approvals and the money will hit your account. No lengthy bank-KYC needed.
Read this before you give into temptation and take the loan.
Also Read: Gross NPAs Of Banks May Rise To 10.1-10.6% By March 2021: ICRA
3. Sensex Closes Above 47,300
Indian equity markets closed at yet another record. Sensex closed 0.8% higher while Nifty 50 rose 0.9%—their fourth straight day of gains.
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Tata Motors stock gains after Brexit overhang subsides.
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Dish TV shares slump on Rs 4,100 crore demand for licence fee.
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Paisalo Digital shares jump after SBI Life stake purchase.
4. Equity Fundraising More Than Doubled In 2020
The devastating pandemic failed to dampen primary and secondary capital market issuances as the year closed with the highest ever fundraising from equity markets.
5. Reliance Capital Vs Credit Suisse
Reliance Capital Ltd. raised objection to the proposed 33.12% stake sale of Prime Focus Ltd. by Credit Suisse to PFL’s promoter group at Rs 44.15 per share.
6. DHFL Bidding Battle: Oaktree Capital Cries Foul
In the latest twist in the bidding battle for DHFL, the Oaktree Capital Group has claimed that about Rs 2,700 crore of the total Rs 17,400 crore offer they have made was not being properly recognised by the lenders while weighing the bids.
7. Tenancy Dispute Ruling A Breather For Tenants And Landlords
India’s Supreme Court has clarified that any tenancy matters that fall under the Transfer of Property Act are arbitrable—a move likely to pave the way for faster resolution of such disputes.
8. Tips Music Signs Deal With Facebook
The Indian music record label inked a deal with Facebook to license music for videos and other content across the social media giant’s platforms.
9. Bitcoin’s Longest Gaining Streak Since 2019
Bitcoin is on track for its longest monthly gaining streak in over a year after it crossed $28,000 apiece over the weekend.
Also Read: Stocks, Equity Futures Climb; Treasuries Retreat: Markets Wrap
10. Why India Is Wise Not To Join RCEP
India opting-out from the Asian free-trade agreement has been widely noted as an economic and geopolitical loss for the country. Hugo Erken and Michael Avery write why it is quite a rational choice.
Also Read: 2020 Should Teach These Democracies Humility
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