Top 50 corporates reduce debt by about Rs 60,000 cr in first half of FY20
In the last financial year 18-19, these companies reduced their debt burden by about Rs 43,000 crore.
PayPal India FY19 loss up to Rs 8.13 crore as revenue doubles
The gross expenditure for the fiscal year came at Rs 660.26 crore up from Rs 26...
Over Rs 300 crore invested in airport infra in FY'20
Approximately 3.4 million passengers flew under the government's regional connectivity s...
NHPC plans to raise up to Rs 2,000 crore in FY20
Company is considering to rise the amount through corporate bonds or via a term loan or borrowing.
Bank frauds rise to record Rs 1.13 lakh cr in H1 FY20
97.3% of the frauds reported in the first half of FY20 by value occurred in previous financial years.
20 financial resolutions to make in 2020
Keeping anything till the last minute is never a good idea, especially when it comes to money matter. Making your tax-saving investments in the last minute can have long lasting negative implications.
EY to hire 23,000 people in FY20
The accounting firm is set to hire in 2020, making the Indian arm its largest workforce outside of the US.
Fitch lowers India GDP growth to 4.6% in FY20
Fitch said growth will gradually recover to 5.6 per cent in FY21 and 6.5 per cent in the following year.
Tata Motors sees EV sales doubling in FY-21, to cross 1000 mark in FY-20
With the introduction of the compact Nexon EV SUV, which is targeted at personal buyers, the company is expecting its sales of EV models to double in the next fiscal year starting April 2020, president of electric mobility and corporate strategy Shailesh Chandra told ET.
Give spending agenda, ease fiscal deficit target: Economists
At the pre-budget consultation with finance minister Nirmala Sitharaman, some economists suggested relaxation in fiscal deficit target, pegged at 3.3% of GDP for FY20.
Higher wholesale prices, strong reservoir levels to help farmers in FY20
The central government's spending on the rural sector has increased 21% in the first seven months of fiscal 2020, the fastest growth in 11 years. All these factors, the unusually strong water reservoir levels and pick-up in rabi crop sowing activity, are initial signs pointing toward the rural sector bottoming out, Motilal Oswal says.
City to drive Honda’s India sales in FY21: Gaku Nakanishi
The carmaker, whose sales fell by more than a third in the first eight months of the fiscal year to a little over 77,000 units, expects the market to pick up from the next festive season, said Honda Cars India president and CEO Gaku Nakanishi.
GST compensation required by 9 large states could double to Rs 70,000 crore in FY'20: ICRA
ICRA also expressed apprehension that "the central tax devolution (CTD) to these states in 2019-20 could be Rs 595-770 billion (Rs 59,500-77,000 crore) lower than what the GoI has budgeted, which has emerged as a key revenue risk for the states in this fiscal." Accordingly, a reduction in capital expenditure below the budgeted level appears imminent in the current fiscal.
ADB trims India's GDP growth forecast to 5.1% in FY20
"India's growth is now seen at a slower 5.1 per cent in fiscal year 2019-20 as the foundering of a major non-banking financial company in 2018 led to a rise in risk aversion in the financial sector and a credit crunch. Also, consumption was affected by slow job growth and rural distress aggravated by a poor harvest," Asian Development Bank said.
Public sector banks turn profitable in April-September FY20
PSBs had posted huge losses in 2017-18 and 2018-19 financial years due to heavy provisioning for non-performing assets and other contingencies, according to the minister. State-run lenders had posted aggregate operating profits during 2017-18 and 2018-19 of Rs 1,55,603 crore and Rs 1,53,871 crore respectively.
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