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A slew of FDI reforms failed to enthuse the markets today as participants held back fresh bets ahead of the corporate results season. In big bang reforms ahead of the Budget, the government today permitted foreign airlines to invest up to 49 per cent in debt-ridden Air India, and eased norms for investment in single brand retail, construction and power exchanges. However, the benchmarks Sensex and Nifty slipped from record highs as caution crept in ahead of the earnings season, which will kick off tomorrow with TCS announcing its Q3…

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Country’s largest lender State Bank of India (SBI) expects financial bidding process for resolution of 12 big stressed accounts to be over by the end of this month, said the bank’s top official. SBI is the lead banker in 6 out of 12 large NPAs with total outstanding loan of Rs 1.75 lakh crore. “Financial bids of Electrosteel and Monnet Ispat have already come. We hope to receive bids for remaining cases during this month itself,” SBI Chairman Rajnish Kumar told PTI. Other cases which are pending before the National…

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Food ordering and delivery platform Swiggy today said it has expanded its services to Chandigarh and has tied up with over 250 restaurants in the city. The startup, which has gained a substantial market share and was last valued at USD 400 million when Naspers led a USD 80-million investment in May, said it will soon expand to neighbouring cities Mohali, Panchkula and Zirakpur. The restaurants partnered include legendary eateries, trendy cafes, ice cream parlours and national and international Quick Service Restaurants (QSRs) in the city. “The restaurant scene here…

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