Top headlines: TikTok to shut India biz, SP Group seeks debt recast

Sales of residential units reached pre-Covid levels, the Delhi Police has registered 22 FIRs so far in connection with the violence during tractor rally

SP group seeks 2-year debt moratorium

The Shapoorji Pallonji Group has sought a two-year debt repayment moratorium from its lenders as the real estate sector and its mainstay construction business is undergoing a slowdown due to the Corona pandemic. Read here

Tiktok to shut down India business

Chinese social media firm Bytedance, which owns Tiktok and Helo apps, has announced the closure of its India business following continued restrictions on its services in the country. Tiktok's global interim head Vanessa Pappas and vice president for global business solutions Blake Chandlee in a joint email to employees have communicated the decision of the company that it is reducing team size and the decision will impact all employees in India. Read here

Home sales at pre-Covid level

Sales of residential units across eight major Indian metros – Kolkata, Chennai, Pune, National Capital Region (NCR), Mumbai, Bengaluru, Hyderabad and Ahmadabad – reached pre-Covid levels at 61,593 units in the December 2020 quarter (Q4’CY20) and the sentiment is likely to improve further, according to Knight Frank-FICCI-NAREDCO Real Estate Sentiment Index for the October – December 2020 period. On average, these cities recorded total sales of 61,467 units in 2019, data show. Read here  

Tractor rally: 22 police complaints against farmers

The Delhi Police has registered 22 FIRs so far in connection with the violence that broke out during the farmers' tractor parade in the national capital leaving over 100 policemen injured, officials said on Wednesday. Read here

HUL Q3 profit jumps 19% YoY

Fast-moving consumer goods (FMCG) major Hindustan Unilever (HUL) on Wednesday posted an 18.87 per cent year-on-year (YoY) rise in its standalone net profit at Rs 1,921 crore in the December quarter. The firm had posted a profit of Rs 1,616 crore in the same period last year. Read here