Breaking a long lull in the IPO market, The Chalet Hotels IPO opens today - one of the biggest in recent months. The company which owns, develops and manages high-end hotels in the key metros, is doing a 1,600-crore initial public offering .The issue is priced at Rs 275 to 280 and is open from the 29th to the 31st of January. The money raised will be used to invest in new businesses and pare debt. 

The Securities and Exchange Board of India (Sebi) on Monday said that an individual investment advisor cannot provide distribution services to clients, as the markets regulator segregated advisory and distributing activities.
Previously, corporate advisers, including individuals who were conducting their business through corporate structures like LLPs, could distribute products and render advisory services to the same client; provided the two services were separated from each other.

Vodafone Idea and Tata Group have made part payment of about ₹2,500 crore and over ₹2,190 crore, respectively, to the telecom department towards statutory dues, a government official told new agencies. With the government coming down heavily on telcos after the Supreme Court's rap, Bharti Airtel on Monday made payment of ₹10,000 crore to the DoT towards statutory dues.&nbsp;Vodafone&nbsp;Idea owed a total of ₹53,000 crore&nbsp;to the DoT&nbsp;in AGR&nbsp;dues.

SEBI&nbsp;on Monday said it will soon come out with a circular to prevent incidents like Karvy Broking Services Ltd, which had allegedly misused clients'&nbsp;securities. In November, the watchdog barred the firm from taking new brokerage clients after it was found that the brokerage company had allegedly misused clients' securities to the tune of more than&nbsp;₹2,000 crore.

General Motors is withdrawing from more markets outside of the United States and China. The company on Sunday said that it will wind down sales, design and engineering operations in Australia and New Zealand and retire the Holden brand by 2021. It also said China's Great Wall Motor had agreed to buy GM's Thailand manufacturing plant. GM is accelerating its retreat from unprofitable markets, becoming more dependent on the US, China, Latin America and South Korea.

India&rsquo;s trade deficit widened to&nbsp;$15.2 billion in January as exports contracted for a sixth straight month while the decline in imports eased. That&rsquo;s the widest gap since June. The gap between exports and imports was $11.25 billion in December, as per the Commerce Ministry's data. Imports declined by 0.75% from a year ago to $41.4 billion, compared with an 8.8% drop in December, while exports fell 1.7% to $26 billion. Oil imports rose 15.3% from a year earlier, while gold imports fell 31.5%.

OYO&nbsp;Hotels and Homes on Monday reported a consolidated revenue of $951 million for the financial year 2018-19, which is an over fourfold increase from $211 million as reported in the previous fiscal. However, the company's net loss increased to $335 million, due to rise in expenses, the company said in a statement. The inherent costs of establishing new markets resulted in an increase in OYO's net loss percentage in the near-term. Its losses in India, however, declined to $83 million, as per the company. In FY18, the net losses were at 24% of its revenue, while in FY19, it stood at 14% of the revenue.
&nbsp;

Indian equities fell on Monday due to a decline in global markets and pressure on banking stocks due to telecom&nbsp;exposure.
The Sensex&nbsp;closed&nbsp;202.05 points or 0.49% in red at 41,055.69. Likewise, the NSE&nbsp;Nifty settled at 12,045.80, down 67.65 points and 0.56%.
PSU&nbsp;banks pulled the markets lower as the Nifty PSU&nbsp;Bank index fell close to 3%.&nbsp;
Yes Bank, Coal India, ONGC, Cipla&nbsp;and BPCL&nbsp;were the top five Nifty losers. While, Titan, GAIL, Nestle India, Vedanta and TCS&nbsp;were the biggest gainers.
After starting the session at 71.47, the India rupee, at 4:00 PM, was trading with a gain of 2 paise at 71.40 against the US dollar.

Stock markets fell in early trade on Monday owing to declining global markets.
At 10:30 am, the benchmark Sensex&nbsp;was 40.22 points or 0.10 points down at 41,217.52. Nifty was trading at 12,093.95, down 19.50 points or 0.16%.
Yes Bank, ONGC, Cipla, IOC&nbsp;and BPCL&nbsp;were dragging the markets down. While, GAIL, Titan, Hindustan Unilever, Nestle India and Vedanta were the top Nifty gainers in the morning.&nbsp;
The rupee declined by 10 paise to 71.47 against the US dollar in opening trade.
&nbsp;
&nbsp;

Vodafone Idea told the Supreme Court on Monday that it can pay only ₹2,500 crore in&nbsp;AGR dues now to the government and will follow it up with another ₹1,000 crore by February 21.&nbsp;
But the Supreme Court did not grant Vodafone Idea any relief, dealing a big blow to the telco which has to pay ₹53,000 crore to the government as part of its AGR dues. Vodafone&nbsp;said&nbsp;it is assessing how much it "can" pay the government.
The telco said that the ₹3,500 crore is 50% of its estimated principle AGR dues of ₹7,000 crore, and appealed to the SC that the Department of&nbsp;Telecom&nbsp;should not take any coercive action or invoke bank guarantees as it would hamper their operations.

A court on Sunday ordered Elon Musk's Tesla to temporarily halt preparations for a car factory in Germany after environmentalists won a court injunction on Sunday.
The court told the electric carmaker&nbsp;to&nbsp;stop clearing forest land near Berlin, where it plans to build its first car and battery factory in Europe.
The court ruling comes after protests by environmentalists who say the factory is a threat to local wildlife and water supplies.&nbsp;
The factory has become a political&nbsp;flashpoint&nbsp;between&nbsp;activists and&nbsp;pro-business parties,&nbsp;who fear the issue could damage the country's image as a place to do business.

Credit ratings agency Moody's Investors Service on Monday slashed India's growth forecast to 5.4% for 2020, from 6.6% projected earlier, on slower than expected economic recovery. In its update on Global Macro Outlook, Moody's said India's economy has decelerated rapidly over the last two years and expects economic recovery is likely to be shallow.&nbsp;The growth projections are based on calendar year and as per its estimates, India has clocked a GDP growth of 5% in 2019. Moody's said&nbsp;revival of domestic demand - both rural and urban, is key for economic momentum.

The Organization of the Petroleum Exporting Countries has&nbsp;said that the global demand for oil is expected to rise by 0.99 million barrels per day (bpd) this year, roughly 19% less than what was forecast.&nbsp;The coronavirus outbreak in China is the major factor behind this downward revision, the OPEC added.&nbsp;Following the report, the benchmark Brent crude spot price fell 0.81% to $56.35 per barrel on Thursday.

Private lender Yes Bank said it has received non-binding expressions of interest (EOI) from at least four prominent investors. The bank also said it is in the process of raising funds, which will delay the announcement of its earnings for the December quarter to, on or before March 14.
Consequently, India Ratings and Research downgraded the bank from 'A' to 'A-' due to a delay in fundraising and lack of clarity over the amount that the lender wants to raise. The bank is on 'negative' watch of the rating agency.

Sales growth of consumer durables like refrigerators, ACs and washing machines in 2019 was the best since demonetisation,&nbsp;as per the data released by market research firm,&nbsp;GfK India.
Volume sales in the overall consumer electronics and major domestic appliances market grew 9% year-on-year in 2019 against 1% in 2018 and 4% in 2017.
As per the data, refrigerator sales went up by 9% in 2019, washing machines by 12%, and air-conditioners by 25%.&nbsp;Smartphone sales growth in offline stores declined marginally from 10.9% in 2018 to 8.7% last year. However, online sale of&nbsp;smartphones&nbsp;grew at 45% last year.
Television sales declined 2% in 2019 due to a shift towards audio-visual consumption over smartphones.&nbsp;

Global rating agency S&amp;P on Thursday affirmed India&rsquo;s sovereign ratings at 'BBB-/A-3' with a stable outlook, saying that it expects GDP growth to recover over two-three years. It also said that India is experiencing a cyclical, rather than a structural, economic slowdown. The Reserve Bank of India last week projected the economy to expand by 6% during the next financial year.&nbsp;The economic survey, tabled in the Parliament last month, estimated the GDP growth during FY21 at 6-6.5%.

State-owned Bharat Petroleum Corporation's net profit&nbsp;jumped nearly three times to&nbsp;₹2,051&nbsp;crore for the third quarter of the current fiscal year.&nbsp;BPCL had reported&nbsp;a net profit of&nbsp;₹698&nbsp;crore in the corresponding quarter of previous year. Revenue from operations, however, dropped to&nbsp;₹85,926&nbsp;crore from&nbsp;₹89,324&nbsp;crore a year ago on lower oil prices.&nbsp;Operating profit rose 13.8% to&nbsp;₹2,703 crore.

India, the world's largest milk-producing nation, has offered to partially open up its poultry and dairy markets in a bid to rebuild bonds during&nbsp;US President Donald Trump's first official visit&nbsp;to the country this month, Reuters reported on Friday. India has traditionally restricted dairy imports to protect the livelihoods of 80 million rural households. The US is India's second-largest trade partner after China.
India has offered to allow imports of US chicken legs, turkey and produce such as blueberries and cherries, Indian government sources said, and has offered to cut tariffs on chicken legs from 100% to 25%. Although, US negotiators want that tariff cut to 10%.

India urgently needs more ambitious structural and financial sector reform measures and a medium-term fiscal consolidation strategy due to the rising debt levels while ensuring a more accommodative fiscal stance in the budget, the IMF has said.
Responding to a question on the budget presented by Union Finance Minister Nirmala Sitharaman, International Monetary Fund (IMF) spokesperson Gerry Rice said the economic environment in India is weaker than what the organisation had forecast earlier.
The IMF in January lowered India's economic growth estimate for the current fiscal to 4.8%.

Liquor tycoon Vijay Mallya&nbsp;has once again asked Indian banks to take back 100% of the principal amount owed to them at the end of his three-day British High Court appeal on Thursday against an extradition order to India.&nbsp;The 64-year-old former Kingfisher Airlines boss said the Enforcement Directorate and the Central Bureau of Investigation are fighting over the same assets and not treating him reasonably in the process. Vijay&nbsp;Mallya&nbsp;is wanted in India on charges of fraud and money laundering amounting to an alleged ₹9,000 crores in unpaid bank loans.

State-owned Oil and Natural Gas Corporation&nbsp;reported a 50% year-on-year fall in its standalone net profit to&nbsp;₹4,151.63 crore for the quarter ended December 2019.&nbsp;
Revenue from offshore and onshore operations during the reporting quarter also declined 16.83% and 9.1% year-on-year to&nbsp;₹15,764.66 crore and&nbsp;₹7,945.39 crore respectively due to lower oil prices.

Chalet Hotels issue opens, breaks dry IPO spell

editorji

follow us

download editorji app

home > business > Chalet Hotels issue opens, breaks dry IPO spell

replay trump newslist

up NEXT IN 5 SECONDS sports newslist

NaN/0

share this news

explore newslists

International

Lifestyle

Hollywood

Sports

Viral

Tech

National

Showbiz

Travel

Local

Business

Feb 17, 2020 18:50 IST

Feb 17, 2020 18:40 IST

Feb 17, 2020 18:30 IST

Feb 17, 2020 18:00 IST

Feb 17, 2020 17:20 IST

Feb 17, 2020 17:00 IST

Feb 17, 2020 16:30 IST

Feb 17, 2020 16:20 IST

Feb 17, 2020 16:20 IST

Feb 17, 2020 15:10 IST

Feb 17, 2020 13:40 IST

Feb 17, 2020 12:40 IST

Feb 17, 2020 12:40 IST

Feb 17, 2020 12:40 IST

Feb 17, 2020 12:40 IST

Feb 17, 2020 12:40 IST

Feb 17, 2020 12:40 IST

Feb 17, 2020 12:40 IST

Feb 17, 2020 12:30 IST

Feb 17, 2020 12:30 IST

follow editorji

download editorji

editorji

About Us

Reach us

Navigate