Top 10 headlines: Govt's plan for Unitech, Vodafone Idea's survival test

From UVARCL sweeping up bankrupt telcos to government's take on the financial stress of the telecom sector, Business Standard brings you the top business headlines of the day

1. Govt feels telecom sector is out of financial stress

Bharti Airtel and Vodafone Idea should not expect any relief from the government, which feels with the tariff hikes and the deferment of the regime of zero interconnect usage charges (IUC) by another year, the sector is out of financial stress and does not require help from the Centre. 

"All the companies have increased tariffs by 40 per cent in December and the IUC regime has also been extended. This is enough relief for them," an official told Business Standard. Read on...

2. Govt to push back the deadline for starting production by two years

The government, in the upcoming Budget, is likely to relax the condition for a concessional corporation tax rate for new manufacturing units and push back the deadline for starting production by two years. Read on...

3. Govt won't use public money to revive Unitech

The government has laid out a broad strategy for reviving Unitech and said it would not pump money into the troubled real estate company. It will instead finance the unfinished housing projects through pending instalments of homebuyers. Read on...

4. How UVARCL sweeping up bankrupt telcos'

Set up in 2007, this low-profile Delhi company has become a major player in bidding for distressed telecom assets that have ended up in insolvency litigation because of the cut-throat price wars unleashed by Reliance Jio. Read on...

5. Vodafone Idea left on a weaker wicket after SC's AGR verdict

While Reliance Jio would be the biggest beneficiary of the Supreme Court refusing to review on Thursday its earlier judgment on adjusted gross revenue (AGR), Vodafone Idea will find itself on the edge. The question for the telco will be whether to close down operations or still ply the trade. Read on...

6. To cut loss, Air India eyes premium flyers in 2020

Air India hopes to double its savings from ticket distribution and grow revenue through better utilisation of aircraft and introduction of new flights. Despite growth in revenue, it is witnessing a cash shortfall of around Rs 200 crore every month, leading to delays in salaries and vendor payments. Read on...

7. Nestle targets making all its packaging recyclable or reusable by 2025

Nestle plans to invest in new types of sustainable packaging to meet its target of making all its packaging recyclable or reusable by 2025. It 1.8 billion euros over five years to cut its use of virgin plastics in favour of food-grade recycled plastics. Read on...

8. New codes likely to take 1,200 steel items out of 'others' category

In a bid to arrest the rise in steel imports in the ‘others’ category, the government is in the process of creating 1,200 new HSN (Harmonised System of Nomenclature) codes to be placed under Chapter 72, which lists base metals.

These new codes will accurately define and classify the imported product. Read on...

9. Foreign-owned mutual funds won't be categorised as 'foreign' investors

Last October, a circular had notified rules with regard to foreign investment in non-debt instruments, classifying mutual funds with over 50 per cent equity as “investment vehicles”. The changes had got foreign-owned MFs worried that their investments through equity schemes would have been impacted if the norms were made effective. Read on...

10. Sebi allows stock exchanges to launch 'options on goods'

Sebi on Thursday took a step towards major reform in commodity derivatives and allowed stock exchanges to launch ‘option in goods’ in their commodity derivatives segment. This is in addition to ‘options on commodity futures’. Norms for options on goods are liberal compared to those on options on futures. Read on...