BackOpening Bell | Reliance Jio, Maruti, SpiceJet in news
Reliance Industries plans to launch its fourth-generation mobile phone services (Reliance Jio) in the second half of 2016
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US markets closed flat over the weekend. S&P 500 at 1,917 was little changed. Asian markets opened on a cautious note. According to Reuters, investors are waiting for industry surveys, which will give insights into the global economy.
Union Budget set to boost farm sector
As part of a push to reduce rural distress, the government is set to double annual spending on irrigation and crop insurance, and develop a national digital platform for farm produce to ensure better prices for farmers, reports Mint.
Interest servicing ability deteriorates further for firms
The ability of Indian firms to pay interest on their loans continued to deteriorate in the December quarter and there is more pain left for banks that have outstanding corporate loans, Credit Suisse said, reports Mint.
Bad loans exceed market value of public sector banks
For every ₹ 100 parked in shares of public sector banks, investors carry the burden of ₹ 150 as bad loans, which have cumulatively ballooned to ₹ 4 trillion or 1.5 times the market value of these lenders, reports PTI.
Reliance Jio launch to launch services in second half of 2016
Reliance Industries Ltd plans to launch its fourth-generation (4G) mobile phone services (Reliance Jio) in the second half of 2016. Read more.
Maruti Suzuki Suspends Production at Haryana Plants
Maruti Suzuki India Ltd suspended operations at its northern auto plants after protests disrupted the supply of some components. Read more.
Nestle’s Maggi market share shrinks
Controversy over Maggi noodles, which led to a ban, has seen Nestle India Ltd’s market share drop by almost half, reports The Economic Times. According to the report, ITC Ltd’s Yippee noodles covered much ground.
SpiceJet turnaround still a work in progress
SpiceJet Ltd will see a meaningful turnaround by the end of the next financial year as India’s second largest low-fare airline expects to clear legacy issues over the next six months, reports Mint.
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