Business

While many believe that good IPOs usually sail through even in bad markets, some exceptional cases like that of Reliance Power Ltd show what a bad timing can do to a public issue.

Analysts say the impact of coronavirus may not be felt or may be insignificant even in the current quarter, but would surely show up in the numbers for the new fiscal year.

The Dow Jones Industrial Average tumbled nearly 1,200 points. The S&P 500 has now plunged 12 per cent from the all-time high it set just a week ago.

The led government in November decided not to join Regional Comprehensive Economic Partnership (RCEP) deal as negotiations failed to satisfactorily address New Delhi's 'outstanding issues and concerns'.

COVID-19 is battering the global economy in numerous ways. Chinese business travel and tourism has all but stopped; global airlines are not going to China and cruise lines are cancelling most Asia-Pacific itineraries.

On Tuesday, rupee had settled for the day at 71.85 against the US dollar. The domestic unit, however, could not hold on to the gains and was trading at 71.78 against the dollar at 1002 hrs.

The crucial meeting comes at a time when the government is looking to issue a detailed notice to Tatas for paying only Rs 2,197 crore as full and final settlement against government's calculation of Rs 14,000 crore.

Indian equities steadied in the opening deals on Tuesday, with Sebi saying that foreign investors from the island nation will continue to be eligible for FPI registration.

All three telecom companies Bharti Airtel, Vodafone Idea and Tata Teleservices have been asked to provide substantiating documents to support their claims on AGR arithmetic.

The government official said that telecom companies have already paid about Rs 16,000 crore in AGR dues, and some have assured more payments in 7-8 days.

Investments in payments companies more than tripled to $2.1 billion from about $660 million in 2018.

Only a couple of sectors in India are likely to see some disruptions but alternatives are being explored to overcome those issues, RBI Governor Shaktikanta Das said.

Network 18, one of India’s largest listed media companies, will become an entity with about Rs 8,000 crore in annual revenue and benefit from substantial economies of scale.

VIL said the board has authorised the company to "immediately pay" to the telecom department a portion of AGR dues aggregating to Rs 2,500 crore on Monday and further Rs 1,000 crore before end of the week.

LIC Housing Finance Ltd shares plunged nearly 15% after media reports said that Life Insurance Corporation of India (LIC) may expedite the process of merging the housing finance arm with IDBI Bank Ltd.

The disappointing data snapped four quarters of expansion and was the biggest contraction since the second quarter of 2014 when the economy shrank 1.9 percent after the first sales tax hike in 17 years was introduced.