Discoms are the weakest link in the electricity value chain with poor payment records not only adversely affecting power generation firms, but also contributing to the stress in the banking sector.

Discom dues to hit all-time high of ₹4.5 tn: Crisil

1 min read . 05 Jun 2020Utpal Bhaskar

Power distribution firms are the weakest link in the electricity value chain with poor payment records

Bollywood actor Sonu Sood hired buses to ensure that migrants working in Mumbai have a safe passage to their native places. (Photo: PTI)

Migrant exodus a double whammy as film business loses workers, audience

2 min read . 05 Jun 2020Lata Jha

The absence of migrant workers is a cause of concern for filmmakers preparing to resume shooting

Ram Madhvani (Photo: HT)

‘Neerja’ director Ram Madhvani launches production house

1 min read . 05 Jun 2020Lata Jha

Madhvani said under the banner he aims to tell interesting stories through short films, feature films and web shows

A shopkeeper hangs clothes outside his shop after the authorities permitted to open their establishments with certain restrictions, during the ongoing Covid-19 lockdown, at Dadar in Mumbai, Friday (Photo: PTI)

Covid-19 impact: Apparel manufacturers report 84% drop in May sales, says CMAI

2 min read . 05 Jun 2020Suneera Tandon

The shift to making PPE products, and a delay in exports orders led to the significant decline, says Clothing Manufacturers Association of India

Asus and Xiaomi aren’t the only ones who have witnessed a surge in demand post the lockdowns.

As India unlocks, electronics makers see strong revival in demand

2 min read . 05 Jun 2020Prasid Banerjee, Abhijit Ahaskar

Supply chain issues are also a concern for electronics companies
The trend flows to television and accessory makers as well

Facing a collapse in demand from the COVID-19 pandemic, the company has previously announced the temporary shutdown of five of its 15 blast furnaces (Bloomberg)

Nippon Steel to renovate blast furnace at Nagoya for $450 million

1 min read . 05 Jun 2020Clifford Alvares

The world's third-biggest steelmaker by crude steel output also said it would step up plans to shrink its assets to help improve its financial health
Facing a collapse in demand from the COVID-19 pandemic, the company has previously announced the temporary shutdown of five of its 15 blast furnaces

Shares of IndusInd have fallen 72% this year on concerns about the founders borrowing money against its shares, worsening asset quality, and erosion of low-cost deposits ( Photo: Mint)

RBI said to push back on Hindujas’s plan to raise IndusInd stake

1 min read . 05 Jun 2020Baiju Kalesh,Anto Antony, Bloomberg

Hinduja brothers’ had applied to the RBI for approval to raise their stake in IndusInd Bank to 26% from less than 15%

Poor payment records of state-owned discoms have not only adversely affected power generation companies, but have also contributed to stress in the banking sector. Photo: Aniruddha Chowdhury/Mint (Aniruddha Chowdhury/Mint)

States power discoms debts to hit all-time high of ₹4.5 trillion: Crisil

3 min read . 05 Jun 2020Utpal Bhaskar

With power demand weak and cash losses high amid the Covid-19 pandemic, discoms would end up owing lenders a staggering ₹4.5 lakh crore by the end of this fiscal, or 30% more than last fiscal

The challenge for DTH operators is graver given that there is hardly any fresh content on television as of now, (Photo: iStock) (iStock )

Covid-19 impact: Tata Sky to cut channels, packs for 7 million subscribers

2 min read . 05 Jun 2020Lata Jha

Almost 70% of five million subscribers who logged in to the Tata Sky website or the app in May wanted to either cancel subscriptions or reduce their monthly bills

Malls, restaurants, and religious places can reopen from 8 June under the phased exit from the lockdown. (Photo: Ramesh Pathania/Mint)

Unlock 1.0: Malls welcome SOPs, urge states to allow shopping centres to reopen

1 min read . 05 Jun 2020Suneera Tandon

On Thursday, the health ministry issued standard operating procedures for malls, restaurants, and religious places preparing to reopen following approvals from state governments

Digital is no longer the prerogative of IT companies as it has percolated down to organisations across sizes and sectors (Photo: Bloomberg)

Demand for IT skills to rise as companies go digital in post-covid era

2 min read . 05 Jun 2020Ayushman Baruah

As companies look to re-invent themselves to stay relevant in a post-covid business environment, skills related to digital transformation will be in high demand

A file photot of a family at the screening of a Kannada film. (Photo: Sameer Raichur)

Migrants exodus: Film industry loses workers and audience

3 min read . 05 Jun 2020Lata Jha

As India went into lockdown more than two months ago and production of all film, TV and web productions halted, marginal workers employed in the art, costume and light departments of sets were the worst hit

Facebook will look into sources of funding and correctional policies or procedure followed by media companies for complaints. (Photo: Reuters)

Facebook starts labelling state-controlled media

2 min read . 05 Jun 2020Abhijit Ahaskar

To develop a criteria to identify media organisations that are under government influence, Facebook consulted over 65 global experts from media, governance, and human rights

Signage for Tata Power Co. stands in Jamshedpur. (Bloomberg )

Tata Power plans to raise over ₹2,000 crore through rights issue

1 min read . 05 Jun 2020Swaraj Singh Dhanjal

The company is working on a long-term strategic plan to strengthen its balance sheet and to improve its overall return metrics
This includes divestment of certain investments, restructuring some businesses and participating in emerging opportunities in the power sector

Interested NBFC players say they would require funding from banks to on-lend to small business owners. (Mint)

Banks, NBFCs line up to woo MSMEs

2 min read . 05 Jun 2020Gopika Gopakumar

Guaranteed loan scheme proves a big draw for lenders
Loans requests from MSMEs have started to rise, say banks

Representative photo

₹16,039-crore Pune-Nashik semi-high speed rail line project gets nod

2 min read . 05 Jun 2020PTI

MRIDC (also known as MahaRail) will be implementing the project, which had been pending approval for long
The Railway line will pass through three districts of Maharashtra - Pune, Ahmednagar and Nashik

Reforms in the agriculture sector will boost farmers’ incomes, said Marico MD & CEO Saugata Gupta. (Mint)

FMCG firms banking on rural recovery to beat virus crisis

2 min read . 05 Jun 2020Suneera Tandon

Projections of a near-normal monsoon and migrant exodus seen as positives for the sector

From left) Suresh Narayanan of Nestle India, Saugata Gupta of Marico Ltd, Arvind Mediratta of Metro Cash & Carry and Angshu Mallick of Adani Wilmar

FMCG recovery hinges on revival of rural demand

1 min read . 05 Jun 2020Team Mint

Thanks to a bumper crop this year, rural demand is likely to remain strong, which, in turn, will aid revival in demand
If firms spend more on improving their work culture, then there will be better-run companies

FMCG makers say that as eating out is not an option, people will try and replicate dishes they usually order at restaurants.

‘Consumers will embrace ready-to-cook, frozen meals’

1 min read . 05 Jun 2020Saumya Tewari & Suneera Tandon

Large-scale job losses will lead to consumers buying only basic and essential items for the near future

Elevated levels of pulses inflation are among the pressure points.bloomberg

Inflation fears rise in households: RBI poll

2 min read . 05 Jun 2020Gopika Gopakumar

The central bank’s rate-setting committee believes that the supply shock to food prices in April may persist over the next few months
India’s economic growth slumped to 3.1% in the March quarter, the slowest pace in 11 years

Industry

Wait for it…

Congratulations!