Top headlines: FMCG demand up in Feb, Torrent moves SC against NCLAT order

Business Standard brings you the top headlines at this hour

FMCG demand goes up in February, as stores stock up for summer

Demand for fast-moving consumer goods (FMCGs) went up last month across India, as kirana stores stocked up their shelves in anticipation of a sizzling summer, according to data by retail intelligence firm Bizom. There was a spike in beverages sales across the country despite inflation inching up in February after moderating downward previously, Bizom noted. Read more

Centre likely to identify five coastal shipping projects for PPP in FY24

As part of its plan to reorient national logistics, the Centre is likely to invite private participation in five coastal shipping projects with a provision of viability gap funding (VGF) in the approaching fiscal year (2023-24, or FY24), Business Standard has learnt. This follows the announcement by Finance Minister Nirmala Sitharaman in her Union Budget speech. Read more

Torrent moves SC against NCLAT order on auction of Reliance Capital assets

The Torrent Group, a bidder of bankrupt firm Reliance Capital (RCap), has moved the Supreme Court against the National Company Law Appellate Tribunal’s (NCLAT’s) order to hold a second round of auction for RCap assets. The apex court is expected to start hearing the matter from next week. Read more

Untimely rains ahead of harvest worry farmers in central, western India

Sudden rains, accompanied by gusty winds and hailstorm over the past few days, have worried farmers across Central and western parts of the country who are already battling a relatively early advent of summer. Reports suggest that standing crops in some districts of Maharashtra and Madhya Pradesh, and in the Saurashtra and Kutch regions of Gujarat seem to have been impacted by hailstorms, though the exact extent of damage can be gauged only after a proper survey by government officials. Read more

DoT expected to exempt small 5G transceivers from clearance process

To allow faster 5G rollout and ensure better coverage in urban areas, the Department of Telecom is expected to exempt the installation of low-capacity 5G transceivers from the existing clearance process, officials said. This would effectively allow low power base transceiver stations (LPBTS) with effective radiation power of less than 600 Watt to be installed on street furniture such as electric poles, bus stops and traffic lights by telecom service providers (TSPs), the officials told Business Standard. Read more