Top 10 business headlines: Govt likely to miss disinvestment target

Govt's FY20 disinvestment target may fall short by Rs 10,000 crore

The Centre is unlikely to meet its 2019-20 revised divestment target of Rs 65,000 crore because of bearish market conditions, according to officials. With a number of offers for sale (OFS) such as NMDC, SAIL, PFC, Coal India, IRCON and Hindustan Aeronautics planned for March getting deferred, the divestment target could fall short by close to Rs 10,000 crore, government estimates suggest. Read more

Markets seesaw as coronavirus fears linger

The rebound in domestic markets, which had seen a 7 per cent fall in the past six sessions, was stopped in its tracks after the health ministry reported two new coronavirus cases on Monday. Besides, an Italian tourist also tested positive for coronavirus in Jaipur, according to the Rajasthan government. Read more

More than 30% of top 50 listed companies complete digital overhaul

A little more than one third of the top 50 companies by market capitalisation have completed digital transformational processes with visible business impact, according to a research by McKinsey & Co. Read more

OECD slashes India's FY21 growth to 5.1%

Global agency OECD on Monday lowered India’s GDP growth forecast to 5.1 per cent, from its earlier projection of 6.2 per cent, for 2020 on concerns over the impact of deadly coronavirus on the domestic as well as the global economy. Read more

Coronavirus impact:

Breaks on travel companies' recruitment

Travel companies have deferred staff increments and put recruitment on hold, in view of the impact of coronavirus on the tourism sector. Bookings for South-East Asia have hit a snag, and travel firms are bracing for further cancellations with the virus now having spread to Europe. Group tours to Europe begin from April, coinciding with the end of the academic calendar. Read more

Carmakers, suppliers brace for stormy days

After battling a prolonged slowdown and disruption caused by new emission standards over the past 18 months, the automobile industry is now bracing itself for a ‘wash out’ in March owing to the impact of the coronavirus pandemic. Read more

Indian steel industry may have a meltdown

In many ways, China’s industrial economy remains a riddle wrapped in an enigma. This characteristic was evident when the World Steel Association (WSA) reported recently that China, which has over 53 per cent share of global steel production, managed to lift output in January by 7.2 per cent year on year to 84.3 million tonnes (mt). Read more

Car companies take digital route for launches

With the annual Geneva car show canceled for the first time since the World War II era, automakers are going virtual in a bid to wow the hordes who would otherwise descend on the Swiss city to get a closer look at the latest models. Read more

Airtel’s own estimate puts AGR dues at a third of telecom dept’s

Bharti Airtel’s own assessment of adjusted gross revenue (AGR) dues is nearly a third of the government’s as it has taken into account certain deductions the telecom department had initially refused and also duplicated entries, among other discrepancies, the Economic Times reported.

Maruti plans a fresh drive in entry-level space

Maruti Suzuki is developing two car models that will be priced below Rs 5 lakh, expanding its offerings in the entry-level segment where competition is easing with the introduction of new safety and emission regulations, according to the Economic Times