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NEWS DIGEST

Fri, Jan 08, 2021 | 03:05 PM IST

Dear Reader,

Here are the top stories of the day from the world of business.

TODAY'S HIGHLIGHTS

1	NEWS To keep EPFO viable, officials give House panel radical idea
	Sources said officials told the panel that EPFO had over 23 lakh pensioners drawing Rs 1,000 per month even when their contributions to the fund corpus had been less than a fourth of the benefits they were drawing. They also said this would be unviable for the government to support in the long run, unless a system of “defined contributions” was put in place.

2	MARKETS Stocks that could prove to be dark horses this earnings season

3	MARKETS Up 4x in four years! This stock has bottled up more fizz to rally further

4	NEWS Donald Trump is said to have discussed pardoning himself

5	INDUSTRY Former HDFC Bank MD Aditya Puri joins global pharma major Strides Group as advisor

MARKETS

48658.82

14337.10

50156.0

73.37

Betting on good R&D! Vijay Kedia shows the way & makes a killing

Equity MFs see outflows for sixth month in a row as investors withdraw Rs 10,000 cr in Dec

Day trading guide for Monday

RECOMMENDED FOR YOU

Economists to hold virtual meet with PM Modi, FM Sitharaman and MoS Finance Anurag Thakur tomorrow

Stop profiteering, bring down petrol price: Sonia Gandhi to government

Pre-Budget India P&L statement: Goods trade in deficit, services surplus

Frothing in Yamuna: Delhi govt prepares 9-point action plan

India's December retail inflation likely fell to within RBI target

TECHNOLOGY

ETtech Exclusive: How Kalaari's exit led to the fall of Milkbasket
Kalaari Capital is selling its entire stake in Milkbasket to Mahendra Nahata-led MN Televentures, a move that's seen eroding the hyperlocal delivery startup's entire valuation and its ability to onboard new investors.

IT firms hired 80,000 people in last two months of 2020

Uniphore brings on board PwC’s Stéphane Berthier as its chief financial officer

NEWS

View: Biden President after US’ apocalypse day
Trump’s violent supporters broke barricades, overwhelmed the police and rampaged through offices of Congressmen and senators as the lawmakers were hurriedly escorted to safer buildings.

Boeing will pay $2.5 billion to settle charge over 737 Max

Trump acknowledges Biden will be next president in wake of Capitol chaos

INDUSTRY

Online chit fund apps under the scanner
The government is examining complaints against some online chit fund apps, which are allegedly functioning in absence of clear regulatory guidelines. This comes as already multiple investigations are on against Chinese loan apps.

Covid-19 Jabs: States point to pain points

Vistara announces discount ticket sale on completion of six years of flying in India

PANACHE

Bhavin Turakhia sets reminders to keep a check on screen time
The Flock boss works on 3 monitors simultaneously at his home office.

Portrait of another democratic nation: North Korea’s Kim Jong-un likes his picture with a gun

Jehan Daruvala recalls F2 race in Bahrain, says he felt proud to hear the Indian anthem on a global stage

MUTUAL FUND

Economy at inflection point, expect 10-12% returns over next 3 years
Mahesh Patil, Co-Chief Investment Officer (Equities) at Aditya Birla Sun Life MF expects 10-12% returns from Nifty 50 over the next three years and expects actively managed equity mutual funds to outperform it.

Best ELSS or tax saving mutual funds to invest in 2021

200% jump in AUM in one year. Is it time to look at Overseas FoFs?

SME

How social community engagement of mothers helped The Moms Co. grow their business during the pandemic
When the pandemic put a stop sign on future plans of flourishing small businesses, a homegrown baby products firm recalibrated using social media tools.

NRI

Joe Biden praises Vanita Gupta, says she is 'proud daughter' of immigrants from India
"As associate attorney general, the number three job at the department, I nominate Vanita Gupta. A woman I've known for some time. One of the most respected civil rights lawyers in America," Biden told reporters in Wilmington, Delaware as he announced some of the key nominations in the Justice Department on Thursday.