Calendar year 2019 (CY19) has turned out to be a good year for those who invested in equities via the primary market route with most of the new listings outperforming the S&P Sensex. As many as 92 per cent of the stocks of companies that listed in 2019 are trading well above their issue price and have given a return of over 200 per cent.

Among individual stocks, investors in four new listed companies - Indian Railway Catering and Tourism Corporation (IRCTC), IndiaMART InterMESH, Affle (India) and Polycab India - have doubled their money post their stock debuted at the exchanges.

The Indian Union Muslim League (IUML) moved the Supreme Court on Thursday challenging the Citizenship (Amendment) Bill, a day after it was passed in the Rajya Sabha completing the legislative process for giving Indian citizenship to non-Muslim migrants from Pakistan, Afghanistan and Bangladesh.

Following the passage of Citizenship Amendment Bill in Rajya Sabha on Wednesday, protests have been intensified in north-eastern states including Assam.

Protests have turned violent in Assam as agitators took to streets setting ablaze vehicles, tyres and damaging other public properties.

Voting began for the third of the five-phase polling in 17 assembly constituencies of Jharkhand on Thursday.

The voting began at 7 am in all the 17 constituencies, amidst a tight security arrangement.

The goods and services tax (GST) rate on mobile phones and fabric may be hiked by the GST Council next week. This could be part of an exercise to correct the inverted tax structure and boost revenue collection.

The structure of higher tax rates on inputs than on final products is resulting in a huge input tax credit outgo. Other items which have seen an inverted duty structure include fabric bags, shoes, tractors etc.

The Citizenship Amendment Bill, 2019, was passed in the Rajya Sabha on Wednesday with a 125-105 vote share, two days after it was passed in the Lok Sabha following a 12-hour long debate. The bill was tabled in the upper house of the Parliament.

125 votes fell in favour of the Bill, while 105 votes were against it. The controversial Citizenship Amendment Bill was tabled in the Rajya Sabha by Union Home Minister Amit Shah on Wednesday, day after the bill was passed in the Lok Sabha on Monday midnight. The House began its discussions on the bill from 2 PM onwards.

Future Supply, the logistics arm of Future group, proposes to take its turnover to Rs 10,000 crore in the next five years, riding on its partnership with Nippon Express. On Tuesday, the Competition Commission of India (CCI) approved the latter's Rs 641-crore investment in Future Supply, giving the Japanese major a 22 per cent stake and board seat.

Kishore Biyani, founder and chief executive officer, Future group, said the collaboration with Nippon allowed Future Supply to become a key player in third-party logistics.

Reliance Capital has informed the exchanges that it's servicing of interest or principal of non-convertible debentures falling due on December 9 isp delayed.

The firm in its filing to the exchanges said, CARE rating downgrading the company's entire debt to default rating in September, despite no overdues on principal or interest payment to any lender on the part of the firm, has led to acceleration of various facilities by certain lenders.

Anand Mahindra, the chairman of the homegrown auto group Mahindra & Mahindra, on Wednesday admitted that entering the commuter bike segment more than a decade ago was a failure on the part of the group.

The group entered two-wheelers after buying out Kinetic Motors in July 2008 and relaunched the 'Freedom' bikes under the label of 'Mojo' but has not been able to make a mark in the vastly entry-model driven two-wheeler space in the country even after a decade.

Shares of Avenue Supermarts, owner of the DMart brand, were trading lower for the fifth straight day and dipped 2 per cent at Rs 1,701 on Wednesday to hit 12-week low on the BSE. The stock was trading at its lowest level since September 20, 2019. In past one week, it has fallen 8 per cent, as compared to 1 per cent decline in the S&P BSE Sensex.

According to a Bloomberg report, Bank of America Corp and Kotak Mahindra Capital Co are among banks Indian billionaire Radhakishan Damani has picked for another planned stake sale in Avenue Supermarts.

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