Monday, Feb 17, 2020 | Last Update : 10:56 PM IST

Economy

Any future rate cut can happen only after CPI comes down to around 5 per cent and transmission of past rate cuts is more complete.

Indian inflation likely hit a near six-year high in January: report

40 economists showed India’s annual consumer price inflation is expected to have risen to 7.40 per cent in January.

The Indian service sector sprung to life at the start of 2020, defying expectations of fragility and building on to the momentum gained at the end of 2019.

India's service sector activity growth hits 7-year high in Jan: PMI

The Composite PMI Output Index that maps both the manufacturing and services sector increased from 53.7 in December.

 Argentine vice-president Cristina Fernandez de Kirchner (AP photo)

Argentina to repay IMF debts after recession ends

Argentina needs to restructure $100 billion in sovereign debt with creditors, including part of a $57 billion credit facility IMF extended

The 'escape clause' allows the government to breach its fiscal deficit target by 0.5 percentage points at times of severe stress in the economy

Fiscal deficit target raised to 3.8 pc from 3.3 pc for FY20

This fiscal path commits us to the path of fiscal consolidation without compromising the needs of investment out of public funds.

Finance minister Nirmala Sitharaman

Finance minister takes care of many concerns of MSMEs

According to the minister, more than five lakh MSMEs have benefitted from restructuring of debt permitted by RBI in the last year.

Market

US West Texas Intermediate crude was at USD 64.39 a barrel, up USD 1.34, or 2.1 per cent, after touching USD 64.44 earlier, the highest since April.

Oil surges again after Trump threatens Iraq sanctions, Iran retaliation

Brent crude futures soared to a high of USD 70.27 a barrel at 0222 GMT, up USD 1.67, or 2.4 per cent.

Brent crude LCOc1 was down 37 cents, or 0.6 per cent, to USD 58.95.

Oil falls for sixth day as China virus raises global growth, demand concerns

Oil investors are concerned travel advisories, other restrictions and any sizable impact on growth.

The broader NSE Nifty advanced 13.10 points or 0.11 per cent to 12,275.85.

Sensex, Nifty start on a cautious note

The 30-share BSE index was trading 39.84 points or 0.10 per cent higher at 41,682.50.

The rupee opened at 71.22 at the interbank forex market, then lost ground and fell to 71.28, down 3 paise over its last close.

Rupee opens at 71.22 against USD ahead of RBI policy decision

Positive opening in domestic equities and foreign fund inflows supported the local unit.

Companies

The meeting is expected to discuss the Preliminary Information Memorandum (PIM) on the Air India sale process, the source said.

Shah-led GoM's second meeting on Air India disinvestment likely today

The expression of interest could be invited 45 days after the uploading of the PIM document.

The last date for submitting expression of interest (EoI) is March 17 while the last date for queries related to the disinvestment is February 1.

Air India sale: Bidders to have access to all records in initial stage

The government would soon be appointing a technical and a legal advisor for carrying out the due diligence.

Pichai had sought to counter slowing revenue growth in the company’s main advertising business by pointing to the Silicon Valley firm’s younger units.

Alphabet shares fall as Google misses on sales

Alphabet has blamed currency exchange rates and its constant tweaking of features, saying that it is not focused on quarterly marks.

Reliance Group chairman Anil Ambani.

Anil Ambani to pay USD 100 mn in conditional order for Chinese banks: UK court

The Reliance Group indicated that it plans to appeal against the ruling, which will involve a process of seeking permission to appeal.

Utilities account for more than 75 per cent of India’s annual coal demand. (Representatuional Image)

Adani Power drives 21 pc jump in Indian utilities' coal imports in 2019

Imports rose to 69.51 million tonnes, the highest level since 2015, data from the Central Electricity Authority showed.

Autos

The ZS EV Excite variant is priced at Rs 20.88 lakh while ZS EV Exclusive costs Rs 23.58 lakh.

MG Motor launches electric SUV ZS EV at Rs 19.88 lakh

For customers who booked it before Jan 17 got a special discount of Rs 1 lakh at Rs 19.88 lakh at New Delhi showroom.

Tata Power, which has set up 100 charging stations in Mumbai, Delhi, Pune, Bangalore and Hyderabad, will add another 300 by the end of March 2020.

Tatas building EV ecosystem to boost sales

The auto major is also working with Tata Autocomp for the localisation of battery pack assembly and motor assembly.

The deliveries of Chetak, which comes at a starting price of Rs 1 lakh, will commence from February end, the company said.

Bajaj Auto launches Chetak electric scooter; bookings start from Jan 15

The electric variant of the iconic Chetak will initially be available in Pune and Bengaluru.

The scooter comes in a splendid three-tone combination of matte black, metallic black and metallic red colour.

TVS launches NTORQ 125 Race Edition in SL

The scooter comes in a splendid three-tone combination of matte black, metallic black and metallic red colour.

In Other News

Another blow to life insurers will also come from withdrawal of Section 80C deduction for assessees that opt for the new tax regime.

Budget proposals to impact growth of life insurers

The net impact of the change will range from 50 basis to 200 basis points on the margins and upto 5 per cent on the valuations.

Union Minister Nitin Gadkari.

Gadkari lauds auto industry for BS-VI adoption, outlines contribution in mfg sector

The Indian automotive industry has circumvented many challenges, the biggest amongst them is reducing emissions.

The central bank has invited comments on the draft framework from all stakeholders by February 25.

RBI publishes draft framework for new payment system

At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.

The trade body said that it does not expect any big changes to the country’s sugar export policy.

India sugar output for 2019-20 unlikely to see big revision: ISMA

The trade body also estimates more than 800,000 tonnes of sugar cane production will be diverted to ethanol in the 2019-20 season.

Representational image

Toy import duty hike will impact wholesale retailers

Toy wholesalers contend that the import duty hike will result in the closure of businesses and a spurt in unemployment