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Business highlights

·2-min read

New Delhi, Oct 18 (PTI) Following are the top business stories at 2000 hours: DCM23 BIZ-JIO-5G Jio planning to sell 5G smartphones for Rs 2,500-3,000 apiece: Company official New Delhi: Reliance Jio is planning to launch a 5G smartphone for less than Rs 5,000 and gradually reduce the price to Rs 2,500-3,000 a unit when it scales up the operation, according to a company official.

DCM16 BIZ-OVL-IRAN India set to lose Farzad-B gas field in Iran New Delhi: India has all but lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran decided to prefer domestic companies over foreign firms for development of the field, sources said.

DCM20 AVI-INDIGO-FREIGHTER SERVICES IndiGo mulls dedicated freighter services amid expected surge in cargo transportation Mumbai: The country's largest carrier by domestic market share IndiGo is mulling launching dedicated freighter services amid an expected surge in cargo transportation, particularly to transport COVID-19 vaccine once it is available.

DCM37 BIZ-DHFL-BIDDERS Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over Rs 60,000 cr write-off New Delhi: Adani Group and Piramal Enterprises are among the four entities that have placed bids for DHFL, the first financial services player undergoing insolvency process, according to sources.

DCM30 BIZ-FINMIN-MSME Govt unlikely to extend credit guarantee scheme for MSME sector beyond Oct New Delhi: The government is unlikely to extend the Rs 3 lakh crore-Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector beyond October even though the sanctioned amount so far is only nearly 65 per cent of the target, sources said.

DCM17 BIZ-OLA Ola to set up new tech centre in Pune, hire 1,000 engineers: Sources New Delhi: Ride hailing platform Ola plans to set up a new technology centre in Pune and hire about 1,000 engineers over the next few years, sources said.

DCM5 BIZ-POWER-CONSUMPTION Power consumption grows 11.45% in first half of October New Delhi: India's power consumption grew 11.45 per cent to 55.37 billion units (BU) in the first half of October this year, mainly driven by buoyancy in industrial and commercial activities, as per government data.

DCM28 BIZ-DLF-FUNDRAISE DLF raises Rs 2,400 cr from SBI to refinance debt, fund ongoing commercial projects New Delhi: Realty major DLF’s rental arm DCCDL has raised Rs 2,400 crore debt from India's largest lender SBI to refinance its existing debt and fund future expansion plans, a senior company official said.

DCM3 BIZ-FPI-INFLOW FPIs invest Rs 7,579 cr in Oct so far New Delhi: Overseas investors have pumped in a net Rs 7,579 crore in Indian capital markets in October so far amidst surplus liquidity in global markets and better than expected quarterly results. PTI RVK