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Wednesday, 26 February 2020

Stock Market Update, Indian Economy, Coronavirus, Reliance Industries, Telecom companies AGR

Stock Market Update, Indian Economy, Coronavirus, Reliance Industries, Telecom companies AGR

Telecom companies started paying AGR

After the Supreme Court's strictness on the outstanding AGR, telecom companies have started paying AGR. A report by SBI EcoRap says that if all telecom companies pay the outstanding AGR on time then the Fiscal Deficit of this Financial Year can come down from 3.8 to 3.5%.

India becomes the 5th-largest economy in the world

There has been a lot of good news for the central government and the country amid much negative news. India has become the 5th-largest economy in the world. With an economy of 2.94 trillion Doller, India has overtaken Britain and France in the year 2019. The central government has set a target of the economy in the next five years.

expecting a huge loss in iPhone revenue due to coronavirus outbreak

After humans, the effect of coronavirus has started showing on business as well. China is so connected with the business of the whole world that any of its domestic problems have an impact on international companies as well. Apple, the maker of the iPhone, has been the first to appear in this matter. Apple has said that due to the spread of Coronavirus in China, iPhone's revenue can be a huge loss. The company had a target of earning around 63 to 67 billion dollars in the Quarter ending in March. But due to sudden interruptions in mobile manufacturing in China, the supply has been affected all over the world. The company says that now they will not be able to meet their earning target.

Reliance Ind. restores its media and distribution business

Reliance Industries has decided to restructure its media and distribution business. Reliance Industries said in a statement that it will merge all its media businesses into Network 18. After this, the value of Network 18 will be Rs 8 thousand crores, after which Network 18 will become the country"s leading company in the media and entertainment sector.

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