Export curbs were imposed on paracetamol and formulations made from the compound on March 3 by the government to shore up domestic supplies amid the threat of the coronavirus pandemic. On April 17, the government removed the curbs on shipments of formulations made from paracetamol. Now, the Directorate General of Foreign Trade (DGFT) has removed … Read more
After a rap by Securities and Exchange Board of India (Sebi), a dozen odd companies have disclosed the financial hit from the covid-19 crisis. Most entities in the listed universe so far had been disclosing suspension of operations because of the lockdown but did not report on the financial impact of the actions, citing uncertainty … Read more
Pick up any Q4 (March ending) FY 20 results and you will surely see the following statement – “The duration and severity of COVID-19 and the disruption caused to business environment cannot be reasonably estimated.” Likewise, checkout interviews from any respected businessman or filings made by Companies on the stock changes. The theme is common … Read more
In a widely expected move, RBI today slashed policy rates by 40 bps to ease Covid2019 impact. The repo rate now stands at 4% and reverse repo at 3.35%. This is the second significant cut in the year. Previously, in March RBI had cut the repo rate by 75 bps. “The MPC also decided to … Read more
A welcome move by SEBI – provides a liquidity mechanism to stuck investors.
SEBI has tweaked its rules and allowed Franklin Templeton India to list its six shut schemes on the stock exchanges to provide an alternative exit option to 300,000 investors of these schemes. Franklin Templeton had wound up six debt schemes on 23 April with total assets under management (AUM) of ₹25,856 crore. The units of … Read more
By Andy Mukherjee When private equity firm Sycamore Partners walked away from beleaguered lingerie chain Victoria’s Secret, some of the loudest gasps came from India, Asia’s busiest market for distressed assets. Acquirers felt emboldened to seek legal advice. Could they at least renegotiate prices by arguing that the coronavirus was a material adverse change? Also … Read more
Zarchi Lwin pawned her only two gold bangles for $140 when the owner of the Myanmar factory where she sewed winter coats for British retailer Next Plc shut it down after orders dried up due to the coronavirus. She is one of hundreds of thousands of garment workers across Asia who have been laid off, … Read more
Mumbai: India Inc now wants India to fully get back to work, economy and jobs to be the central focus, and to stop alarmism about Covid-19, because policymakers must recognise that the country will have to live with and work around the spread of infection. ET spoke to industrialists, CEOs and bankers, who were all … Read more