1. ITC shares down 3%;
mcap dips by Rs 8,786 cr post Q3 results
Shares of ITC Ltd fell by 3 per cent, eroding from its market valuation, after the company’s December quarter earnings failed to cheer investors.
Founded on 24 August 1910 (as Imperial Tobacco Company of India).
2. Systemic reform will improve ease of doing business: Nirmala
Citing competitive advantages that Andhra Pradesh posses
Seeking private investment, Commerce and Industry Minister Nirmala Sitharaman said systemic reforms being pushed by the government may have some short term pain but will make India an easier place to do business.
Minister of State (Independent Charge) for the Ministry of Commerce & Industry.
3. Aditya Birla Group to invest Rs 7,000 cr in Andhra
The company has set up a cement plant with capacity of 5.6 million tonnes.
- Chairman Kumar Mangalam Birla said that Aditya Birla Group plans to invest Rs 7,000 crore in the next two years in Andhra Pradesh on expanding existing businesses.
- The conglomerate already has investments of Rs 10,000 crore in the state across sectors like telecom, retail and cement.
Kumar Mangalam Birla
Chairman Aditya Birla Group.
4. Navy kicks off global search for a carrier-borne fighter.
Leaving Tejas out in the cold, navy reaches out to global vendors
After declaring last month that the indigenous Tejas light combat aircraft (LCA) was not suitable for operations off an aircraft carrier, the Indian Navy has declared its interest in buying “approximately 57” multi-role carrier borne fighters (MRCBF) for deck operations.
They are naval aircraft designed specifically for operations from aircraft carriers.
5. Demonetisation, GST to fetch more revenues to govt: Jaitley
He put up a spirited defence of demonetization.
Finance Minister Arun Jaitley today put up a spirited defence of demonetisation, saying the drive “shook” the financial system for a short while, but will integrate the shadow economy with the formal in the long run and ensure better tax compliance.
- New indirect tax regime will make India one single market.
- Eliminate multiple assessments.
- Check evasion and bring more revenues into the system.