Biz EOD: Shortfall in states' GST compensation; Total SA to buy 50% stake in AEGL; Emami to sell cement business

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1. GST compensation to states to see shortfall of Rs 15,000-25,000 crore in FY20: ICRA

Centre pegs cess collection at Rs 98,000 crore in FY20, of which Rs 70,500 crore has been collected till December 2019, suggesting govt expects a further inflow of around Rs 28,000-crore cess in the fourth quarter of this fiscal.

2. French energy major Total SA to buy 50% stake in Adani's solar business for $510 million

As a part of the binding agreement between the two companies, Total SA will own half of a joint venture (JV) company that will house 2,148 MW of operating solar projects owned by Adani Green Energy Ltd (AGEL) which will hold the balance (50%) stake in it.

3. Emami Group to sell cement business to Nirma arm for Rs 5,500 crore; move to cut debt

The move is aimed at paring Emami Group's debt which is around Rs 2,600 crore, however, the promoters of the conglomerate have sought a much higher valuation from Nirma Group.

4. Why Ivy League universities may not come to India despite FDI relaxation

Even though the consolidated FDI Policy, 2017, already allowed FDI up to 100%, global educational institutions were not interested in entering India because there were too many conditions.

5. From London to New York: ED identifies DHFL chief Kapil Wadhawan's assets worth Rs 3,000 crore

The value of these properties is pegged at Rs 3,000 crore. The ED suspects that Wadhawans had allegedly brought several other properties in the name of shell companies created by them or their associates.