August 2020 - Biz Journal

Adani Group stocks in focus post Mumbai Int’l Airport deal; GVK Power up 5%

Adani Group stocks rallied on Monday after the group acquired a 74 per cent stake in Mumbai International Airport Limited (MIAL), which operates India’s second-largest airport in Mumbai. Under the transaction, Adani Group will acquire 50.5 per cent stake of GVK group. Additionally, Adani will also acquire 23.5 per cent stake of minority partners Airport Company of South Africa (ACSA) and Bidvest. ACSA and Bidvest hold 10 and 13.5 per cent stake respectively in MIAL. CLICK HERE TO READ FULL REPORT

Post the development, all the Adani Group stocks were trading in the green. Adani Ports surged over 5 per cent to Rs 378.45 against Friday’s close of Rs 359.60. Adani Enterprises, on the other hand, was trading nearly 1 per cent higher at Rs 290.50. Adani Power was up over 3 per cent while Adani Green hit an all-time high of Rs 497.55.

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Economic

What to expect from Q1 GDP data today? Here’s what key indicators suggest

August 31, 2020August 31, 2020 by Martha

Months after the coronavirus induced lockdown and the follow up unlock, GDP data likely to be released later today will paint the extent of damage to the economy and give an idea of the critical course correction required. High labour migration, job losses, and poor investment atmosphere is likely to push the already slowed economy into a tight corner.

Economists project the GDP may decline by 19.2 per cent in the April to June quarter from a year ago, the sharpest contraction since the nation started publishing quarterly figures in 1996. India’s FY20 GDP had declined to 4.2 per cent from 6.1 per cent in FY19, the slowest in the last 11 years.

Here are some of the contributing factors that triggered the fall

Rising retail inflation

Retail inflation spiked to 6.93 per cent in July this

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Invesment

The Road to Integrityis Paved With Good Intentions

August 31, 2020August 31, 2020 by Martha

Content

Freshness

Usefulness

A treatise for leaders who are looking for ways to infuse their values and integrity into their organization.

If you buy something through our links, we may earn money from our affiliate partners. Learn more.

When the Penn State “Sandusky” scandal hit the news, I sat down and cried.

During my junior and senior years, I worked for the football office. Paterno was insane about integrity. If a player didn’t have a 3.0 on Friday night, he didn’t play on Saturday. If a player got in trouble, the team had to clean the stadium after the game. I can go on, but I won’t because Penn State leadership’s lapse in integrity decimated a century’s worth of hard-earned reputation.

“Most companies think they have integrity, until they get exposed by data, skewered by the press, boycotted by customers, dropped by investors, and protested by their own

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Biz News

Assam to send report to Centre for granting ST status to ethnic communities

August 30, 2020August 30, 2020 by Martha

The Assam government would send

to the Centre soon the report of the Group of Ministers (GoM) constituted for preparation of modalities for granting of ST status to the six ethnic communities of the state, said Chief Minister Sarbananda Sonowal.

He also said that the proposed Autonomous Council for the Moran community would start functioning shortly.

The chief minister said this in a meeting with a delegation of various organisations of the Moran Community in Guwahati on Saturday.

The six communities are Koch Rajbongshi, Tai Ahom, Chutia, Matak, Moran and Tea Tribes.

Sonowal said the state government is making sincere efforts to solve the issues affecting the Moran community and the GoM constituted by the state government for preparation of modalities for granting Scheduled Tribe (ST) status to the six communities had initiated consultations with all stakeholders

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Invesment

Zoho One Showcased at Upcoming Webinar

August 30, 2020August 30, 2020 by Martha

As part of the final Educational Webinar series, Zoho is going to showcase Zoho One and show you how you can use it to optimize your digital presence.

Zoho One for Every Business Need is going to be held on September 23, 2020, from 1- 2 p.m. EDST.

The previous webinars tackled Setting Up Your Website, Establishing Your Brand Story and Elements of Website Design, and Converting Visitors to Leads: Web Forms, CTAs (Call to Actions)

Together these free webinars are intended to provide a basic understanding of getting online. Whether you are trying to create your first eCommerce site or blog, you will know how to get started.

With Zoho One, you can take this knowledge and use the more than 40 applications in the suite to run your online business. This includes applications to grow sales, market your business, do your accounting, communicate with teammates and

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Economic

States to bear interest burden for borrowing Rs 2.35 trn shortfall in GST

August 29, 2020August 30, 2020 by Martha

States will have to bear the interest burden if they decide to borrow the entire Rs 2.35 trillion shortfall estimated in goods and services tax (GST) revenue: that’s the second option proposed the central government has proposed to raise resources to compensate states amid inadequate cess collection.

The finance ministry, in a letter to states, Saturday shared the details of the two options, which states will examine over seven days. The GST Council, which met Thursday, will convene again after for discussions.

The centre gave states two options at the GST Council meeting for compensation: they can either borrow up to Rs 97,000 crore, which is a shortfall arising out of GST implementation or the entire Rs 2.35 trillion, which accounts for the Covid-19 situation.

States, if they take up the first option, will have to borrow Rs 970,00 crore through issue of debt under a

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