Business highlights

DCM12 BIZ-FPI-INFLOW FPIs pump in Rs 17,818 cr in just 4 trading sessions of December New Delhi Overseas investors remained net buyers to the tune of Rs 17,818 crore in Indian markets in first four trading sessions of December amidst better than expected economic recovery around the world and positive sentiment on the back of various vaccine results.

Following are the top business stories at 1900 hours: DCM6 BIZ-ECONOMY-NITI Economy to reach pre-Covid levels by end of FY2022: Niti Aayog New Delhi: India's economic growth is likely to reach pre-COVID-19 levels by the end of the 2021-22 fiscal as the GDP contraction in this financial year is expected to be less than 8 per cent, Niti Aayog vice chairman Rajiv Kumar said on Sunday. DCM21 BIZ-TAX-VIVAD SE VISHWAS I-T Dept allows revision of declarations filed under 'Vivad Se Vishwas' scheme New Delhi: Entities filing declaration under the direct tax dispute resolution scheme 'Vivad Se Vishwas' can revise them till the time tax authorities issue certificate mentioning details of tax arrear and the amount payable, the Income Tax Department has said. DCM8 BIZ-FDI FDI equity inflows into India cross USD 500 bn milestone New Delhi: Foreign direct investment (FDI) equity inflows into India crossed the USD 500 billion milestone during April 2000 to September 2020 period, firmly establishing the country's credentials as a safe and key investment destination in the world. DCM33 BIZ-LD IRFC-IPO IRFC IPO may hit markets this month New Delhi: Indian Railway Finance Corporation (IRFC) initial public offering of about Rs 4,600 crore is likely to hit the markets later this month. DEL8 BIZ-PETROL-PRICE Petrol price up 28 paise, diesel 29 paise a litre; rates touch 2-yr high New Delhi: Petrol price on Sunday was hiked by 28 paise per litre and diesel by 29 paise, the fifth straight day of increase in rates due to firming international oil prices. DCM14 BIZ-MUTUAL FUNDS MFs selling spree continues; withdraw Rs 30,760-cr from equities in Nov New Delhi: Continuing their selling spree for the sixth straight month, mutual funds pulled out Rs 30,760 crore from equities in November on profit booking and experts believe the outflow trend will continue unless there is correction in markets. DCM20 BIZ-FOREIGN FUND-COLONISING Flipping: Naukri.com founder Bikchandani says foreign funds colonising Indian start-ups New Delhi: In perhaps the first red flag by a significant start-up curator against 'flipping', a Naukri.com and Zomato investor has said foreign funds are the new East India Company that are colonising successful start-ups in India by transferring ownership overseas to skip Indian regulations and taxes. DCM12 BIZ-FPI-INFLOW FPIs pump in Rs 17,818 cr in just 4 trading sessions of December New Delhi: Overseas investors remained net buyers to the tune of Rs 17,818 crore in Indian markets in first four trading sessions of December amidst better than expected economic recovery around the world and positive sentiment on the back of various vaccine results. DCM2 BIZ-MARKET-OUTLOOK Optimism over COVID vaccine, hopes of stimulus in the US may drive mkts higher: Analysts New Delhi: Optimism over COVID-19 vaccine and hopes of a fresh stimulus in the US may drive markets next week, with investors continuing to monitor global events and situation around coronavirus for further movement, analysts said.