Top 18 finance news today, Oct 1, 2020

Chaitra Anand
·7 min read

Major finance news today at a glance:

PVR Cinemas: Masks will be mandatory while watching films | Unlock 5.0

A huge relief for multiplex operators as the under the rules for Unlock 5.0 the Centre has allowed multiplexes to re-open with up to 50% seating capacity outside containment zones from Oct 15. The Ministry of I&B will release standard operating procedure guidelines. ET NOW spoke to Kamal Gianchandani - Director at Multiplex Association of India (MAI) & CEO PVR Pictures who said they welcome this move for re-opening of multiplexes. Watch video

Rakesh Jhunjhunwala on Mistry-Tata fallout; says 'Expect Tatas to buy back some stake held by SP'

The Shapoorji Pallonji Group has said that they have cash flow issues and that they are willing to sell their family silver. Will the Tata Sons but it back and if they do, where will the fund come from for this? Watch video

Gold price up by Rs 10, reaches Rs 49,960; silver plunges by Rs 1,000

The price of 24-carat gold today rose by Rs 10, from Rs 49,950 per 10 gram to Rs 49,960 per gram. On the other hand, 22-carat gold on Thursday costs Rs 48,960 per 10 gram, according to Good Returns. The price of 22-carat yellow metal yesterday stood at Rs 48,950 per 10 gram. Read more

Google to pay $1 Billion over 3 years for news content

Google will pay publishers $1 billion over the next three years for their news content. The internet search giant said said Thursday that it has signed agreements for its news partnership program with nearly 200 publications in Germany, Brazil, Argentina, Canada, the U.K. and Australia. Read more

Silverlake has invested additional 1,880 crores in Reliance Retail | ET NOW Reports

Reliance Industries is a stock that has been buzzing for a long time now. Silverlake has additionally invested ₹1,880 crores in Reliance retail and that means that they have increased the stake from 1.75% to 2.13% in the company. The total investment now stands at ₹9,380 crores. Read more

Mubadala buys 1.4% of Reliance Retail; Abu Dhabi-based company to invest Rs 6,247.5 cr in RIL unit

The retail unit of the Reliance Industries (RIL) will receive an investment of Rs 6,247.5 crore from Abu Dhabi state fund Mubadala Investment Company. The Abu Dhabi-based company is seeking to secure 1.4 percent in Reliance Industries. Mubadala will join the global clamour to own a stake in the Indian company. This latest investment with Silver Lake's co-investors and General Atlantic, the fifth in three weeks values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore, RIL said in an exchange filing. Read more

Unlock 5.0 guidelines; are multiplex stocks good for investment?

Unlock 5.0 guidelines were introduced last evening and have given hopes of normalising things. The Unlock 5.0 begins from 15th October. After 6 months, that seem like an eternity, cinemas will be opened back again. Watch video

Mark Zuckerberg and Facebook have a plan to kill the iPhone

Video calling has become a staple of staying connected during the pandemic. Even technology’s fiercest critics could not begrudge the industry for making available a mode of communication that made lockdown much easier than it could have been. But despite it being a crutch that so many of us rely upon, it may not be the go-to for long - at least, that’s if you believe Facebook boss Mark Zuckerberg. Read more

BMW 2 Series Gran Coupe to be launched in India on October 15

BMW India will be launching its smallest four-door offering, the 2 Series Gran Coupe on October 15. As already known, the 2 Series Gran Coupe will be positioned below the 3 Series and will compete with the likes of the Mercedes-Benz A-Class sedan in India. Though BMW is yet to announce it officially, a select few dealerships have already started accepting bookings for the 2 Series Gran Coupe with expected delivery from November onward. Read more

India must persevere with flexible inflation targeting - former RBI deputy governor

India should stick with its flexible inflation targeting framework, which has worked well, to reap the benefits over the long term, former Reserve Bank of India (RBI) deputy governor Viral Acharya said. Read more

Australian state defers Adani coal mine royalties ahead of election

The Australian state of Queensland has agreed to defer royalty payments for Adani Enterprise's Carmichael thermal coal mine, the state's treasurer said on Thursday. The royalty deferment comes ahead of a Queensland state election set for Oct. 31 and with the current Labor state government set to enter a so-called caretaker period on Oct. 5, when no major decisions are typically announced prior to the vote. Read more

Rakesh Jhunjhunwala on sectoral trends: "I see huge opportunities in Hotels & Infrastructure"

Indian businessman Rakesh Jhunjhunwala says investors in India are still in disbelief about the recent stocks rally, and reiterated that the market has just seen a "the birth of a classic bull market." "There is only worry and a lot of disbelief in the market. We have gone through the classical birth of a bull market where there is a sharp fall, sharp recovery, and everybody is dumb founded, therefore no one believes in the rise. India is on the verge of a secular, structural bull market. This bull market is not only going to be about the stock market but about India. People are going to be surprised at the way India's growth is going to recover, and how it is going to sustain and further recover." he stated. Watch video

COVID-19: SC approves DGCA's recommendations on refund of airfare through credit shells

In a major relief to passengers, whose flights got cancelled due to the COVID-19 lockdown, the Supreme Court on Thursday accepted the recommendations of the Director General of Civil Aviation (DGCA) to refund ticket fares and also approved a credit shell scheme which will be valid till March 31. Read more

Sign of recovery in COVID-19 hit Indian auto industry, 31 percent growth recorded in September sales

Indian auto industry, battered by the coronavirus lockdown has started to show signs of recovery ahead of upcoming festive season, an auspicious time when most of the buyers in the country prefer to buy a new vehicle. The recently released sales data from September reveals that the Indian car industry has registered a massive growth of 31 percent in overall sales as compared to same period last year. Read more

2021 Honda Civic patent images leaked, hint towards a cleaner and conventional design

The Honda Civic is arguably one of the most popular Honda Cars in India, perhaps, right after the Honda City. And thanks to this popularity, the comeback of the Honda Civic in the current generation in India has been a success story which has managed to single-handedly rekindle the interest in the sedan segment in India. Now, patent images of the new Honda Civic have surfaced online and it gives a glimpse as to how the new Civic might look like. Read more

Indian startups explore alliance and alternative app store to fight Google's 'monopoly'

Google, which reaches more internet users than any other firm in India and commands 99% of the nation’s smartphone market, has stumbled upon an odd challenge in the world’s second-largest internet market: scores of top local entrepreneurs. Read more

Mukesh Ambani is making 90 crores per hour, what do other big business people make?

The coronavirus pandemic has not really been beneficial to many people. With the entire country going into lockdown for a good amount of time, and even still many places choosing to keep shut due to safety reasons, the economy of several businesses has taken a big hit. However, it seems that this has not exactly stopped some people from earning their crores regardless of whatever is happening in the country, or maybe even because of it. Read more

Adani Green Energy completes acquisition of 205 MW operating solar assets

Adani Green Energy Ltd (AGEL) on Thursday announced that it has completed the acquisition of 205 megawatt operating solar assets from Essel Green Energy Pvt Ltd (EGEPL) and Essel Infraprojects Ltd (EIL). The assets are located in Punjab, Karnataka and Uttar Pradesh. All the assets have long-term power purchase agreements with various state electricity distribution companies. Read more