News digest: Corporate earnings, Jet gets notice, HUL vs ITC, and more

High crude oil prices, interest rate hikes, dearer rupee, and elevated commodity prices to weigh on India Inc's profits

FY19: 11th year of missed estimates

In yet another disappointment for investors, the current fiscal year may end up with lower than estimated earnings for the Indian corporate sector. According to the data, 2018-19 (FY19) is likely to be the 11th consecutive year of the S&P BSE Sensex earnings falling short of the consensus estimates. The last time the actual Sensex earnings came ahead of estimates was in 2007-08. Read more
 
Jet Airways defaults on lease rentals
 

Jet Airways has defaulted on payments to aircraft lessors and has been served show cause notice by Airports Authority of India (AAI) for payment delays. Read more

 
 
Microfinance firms feel the ripple effect of liquidity crisis

Small and mid-sized microfinance firms are facing liquidity crisis to the extent that some of them are being forced to stop fresh lending. Read more
 
 
OYO to invest $1.2 bn in global expansion

SoftBank-backed budget hospitality chain OYO, which operates in multiple markets including India and China, will invest over a billion dollars (about Rs 87 billion) over the next three years to add several 100,000 rooms to its brand. Read more
 
 
HUL vs ITC: Stable consumer demand aids growth in Q2

Hindustan Unilever (HUL) and ITC posted a strong revenue growth in the July-September period, led by a recovery in consumer demand. At 11.1 per cent (HUL) and 12.7 per cent (ITC) revenue growth, both firms gained from an uptick in sentiment in most categories. Read more