Proceeds from the government's disinvestment so far look extremely short as they currently stand at Rs 12,995.46 crore with the inclusion of Rs 637.97 crore realized from IPO of Indian Railway's catering arm IRCTC. The government's disinvestment target for the current fiscal is Rs 1.05 lakh crore. Although a very small amount has been generated so far through divestments, market analysts believe the sale of the government's 53 percent stake in BPCL could alone fetch at least Rs 57,000 crore or more than 50 percent of the fiscal's disinvestment revenue target.

The income-tax department will reportedly push for a cut of at least Rs 1 trillion in the target for direct tax collection. The mark down comes because of growth in the segment sliding to as little as 3 per cent as of the 31st of October . Reduced growth is largely because of consumption slowdown and tax rate cuts. Corporate tax collection grew by just 0.5 per cent in the first seven months of the fiscal year, against the year’s target of 15.4 per cent growth while personal I-T collections grew by 5 per cent till October.

SIAM data for October auto sales confirms things remained lacklustre despite hopes of a festive boost. Passenger sales were down over 6% year on year while two wheeler sales fell over 14% to 17.6 lakh units. The hardest hit space remained the CV segment where sales were down over 23% at 2.85 lakh units.

I-T services companies, with large Indian presence, are looking at reducing their employee count by 5 to 8 per cent in the coming quarters, mostly at the middle to senior levels. Sector experts believe rising pressure on margins is the main cause. With price discounts on the core business and increased hiring in the US, margins have been hit. In October, Cognizant announced a massive round of lay offs along with it's quarterly numbers.

The Serious Fraud Investigation Office or SFIO has found that the company's vast network of sales agents across the globe was not independent of Jet Airways and many of these entities were linked to its founder, Naresh Goyal. In the “general sales agents” model, while venturing into a new or developing market or cutting costs in an existing market, airlines choose general sales agents as their representatives to offer services.

As many as 57,000 employees of Bharat Sanchar Nigam Ltd or BSNL have already availed themselves of the voluntary retirement scheme that was rolled out on 5th November.The figures when combined with those of state-owned MTNL exceed 60,000. The scheme will be open till the 3rd of December. BSNL's internal target for VRS is reportedly pegged at 77,000 employees and it is looking at savings of about ₹7,000 crore in the wage bill, if 70,000-80,000 personnel opt for the scheme.

Alibaba's Singles’ Day shopping bonanza got off to a scorching start registering more than $16.3 billion of purchases in less than 90 minutes - that's more than half of last year’s record haul for the 24-hour event. An estimated half-billion shoppers from countries like China, Russia and Argentina are expected to swarm the e-commerce giant’s sites to scoop up things like iPhones and refrigerators. The world’s largest shopping event has become an annual ritual for Asia’s largest company and will also be a good gauge of how willing Chinese consumers are to spend, as economic growth threatens to slip below 6%.

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&nbsp;Indiabulls Housing Finance has tanked in trade, after the Reserve Bank&nbsp;&nbsp;imposed operational curbs on Lakshmi&nbsp;Vilas&nbsp;Bank - restrictions that also put a question mark on the proposed merger of the 2 entities.
RBI's move&nbsp;&nbsp;to bring the bank within the ambit of the Prompt Corrective Action or&nbsp;PCA&nbsp;framework sets ceilings and limits on big-ticket and high-risk lending. The proposed merger of Lakshmi Vilas Bank&nbsp;and Indiabulls Housing Finance was still awaiting the central bank&rsquo;s approval.
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Indiabulls Housing Finance has tanked in trade, after the Reserve Bank imposed operational curbs on Lakshmi Vilas Bank - restrictions that also put a question mark on the proposed merger of the 2 entities. RBI's move to bring the bank within the ambit of the Prompt Corrective Action or PCA framework sets ceilings and limits on big-ticket and high-risk lending. The proposed merger of Lakshmi Vilas Bank and Indiabulls Housing Finance was still awaiting the central bank’s approval.

Indiabulls housing Fin tanks as RBI clamps down on Lakshmi Vilas Bk

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