Morning Business News Round Up_Jan 18, 2019

Morning Business News :

  • May need more currency as GDP size increasing: RBI
  • L&T Infotech acquires Ruletronics for $7.48-mn
  • RIL first pvt co to top Rs 10,000 cr profit mark
  • IL&FS says unable to meet interest payment obligation
  • HUL Q3 profit rises 9% YoY to Rs 1,444 crore
  • Reliance faces Rs 1 crore fine over NGT row
  • Icra expects auto parts industry to grow 15% this fiscal
  • Naresh Goyal sets terms for Rs 700-cr infusion into debt-laden Jet Airways
  • I-T dept holds back Rs 20,000 crore in tax refunds to private, PSU firms
  • Adani partners Germany’s BASF for Rs 16,000-crore petrochem foray
  • Edelweiss Financial Services ties up $1.3 billion to buy India debt assets
  • 18 NBFC-MFIs pool Rs 835 cr for securitisation, easing liquidity crisis
  • GDP to be a tad higher to 7.5% in FY20: India Ratings
  • Car market in India continues to move in slow lane: report
  • NSEL scam: Corporate Ministry allows SFIO to prosecute everyone involved
  • GMR in talks with MAHB on Hyderabad airport stake sale
  • Deep in debt, Rolta India goes into stand-by mode
  • CCI imposes ₹85-lakh penalty on Godrej & Boyce
  • Govt mulls deemed admission of companies under insolvency law
  • NGT asks Volkswagen to pay penalty of Rs 100 cr in 24 hrs
  • CII asks RBI to cut repo rate, cash reserve ratio
  • Share buybacks fail to boost share prices, investor morale

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  • Hero Future in talks to buy Fotowatio’s solar project in India
  • Naresh Goyal refuses to cede control of Jet Airways
  • Need to focus on alternative fuels: Nitin Gadkari
  • Aurobindo to buy 7 products from US firm in $300-million deal
  • Daiichi moves SC to restrain Fortis from transferring funds from IHH
  • PFC to borrow Rs 14,000 crore to fund REC buy
  • SCCL plans Rs 10,000-crore capex, eyes new coal blocks, mines
  • Telecom sector may stabilise soon post-consolidation: Trai chairman
  • Singed Shalimar Paints plans mega come back
  • Gujarat cotton output may fall 48% this year
  • SBI: Only preserving time value of money in Essar
  • Philips Carbon Black to fix southern location of Rs 600-crore project; net jumps 92%

Morning Business News Round Up_Jan 17, 2019

Morning Business News :

  • RBI further eases external borrowing norms
  • E-comm curbs could hit online sales by $46-bn: PwC
  • Panel tells steps to achieve $5-tn economy by 2025
  • SBI adds new twist in Essar insolvency saga
  • Norms mandate local sourcing of gear for power projects
  • Clarify on asset freeze: IL&FS ex-directors to NCLT
  • Cabinet approves Rs 6,000 recap of EXIM Bank
  • Govt eases norms for start-ups seeking exemptions from ‘angel tax’
  • SBI-led consortium of lenders likely to bag biggest stake in Jet Airways
  • Cabinet clears Rs 22,594-crore plan for expansion of Numaligarh refinery
  • Indian Oil Corp may raise about $3 billion through US dollar bonds issue
  • Theresa May’s Brexit vote defeat complicates Indian IT firms’ future
  • Fortis Healthcare completes acquisition of Religare Health Trust’s Indian Assets
  • Mazagon Dock to lease land from Mumbai Port Trust for₹937 cr
  • Mindtree posts 35 per cent rise in profit in Dec quarter
  • Maha govt keen on buying Air India building in Mumbai
  • Phillips Carbon Black to double speciality black’s share to 15% of output capacity
  • Bond slide in India reflects fiscal jitters about farm stimulus
  • Patanjali only suitor for Ruchi Soya as Adani opts out

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  • Byju’s acquires US-based Osmo for $120 million
  • India to bar private refiners from tapping Iran oil quota
  • HPCL unlikely to partner Total for LPG cavern in Mangalore
  • Large borrowers fall in line after RBI’s one-day default norm
  • Setback for HUL: HC refuses to stay NAA order to deposit Rs 223 crore
  • PACL case: Sebi panel receives details of additional 13,863 properties
  • Skoda India profit after tax plunges 66% in FY18
  • Ashok Leyland set to ply 50 electric buses for Ahmedabad BRTS by May
  • CCI fines Gujarat-based Chemist association for restrictive trade practices
  • Infosys gets mandate for next-gen ITR filing system
  • Allocation of microwave spectrum doesn’t flout SC order: Manoj Sinha
  • MFs reduce holding in auto stocks in Dec
  • Mukesh Ambani in top Global Thinkers list of Foreign Policy
  • Microsoft to include India in venture fund

Morning Business News Round Up_Jan 16, 2019

Morning Business News :

  • Trade deficit narrows to USD 27.93 billion in Dec
  • Fertiliser Min seeks add’l Rs 23,000 cr to clear dues
  • Banks expected to report higher credit growth: Report
  • RBI to inject Rs 10,000 crore through open market operations this week
  • UK rejects PM May’s EU divorce deal by 230 votes
  • Rs 20,000 cr: Amount provident funds may have lost to IL&FS
  • Telcos may have to spend Rs 1.25 trn on court cases, stare at huge loss
  • IL&FS bows out, govt to invite tenders for Zojila tunnel for the third time
  • SC reserves judgment on plea challenging validity of IBC
  • Regulatory challenges in India bring Amazon, Walmart into unlikely alliance
  • Biocon likely to channelise investments towards non-insulin biologics
  • Exports up 0.34% in Dec; trade deficit narrows
  • India among world’s leading exporters of creative goods
  • Zee Entertainment Q3 net profit up 50.5% to Rs 562.76 cr
  • Govt mulling import duty hike on iron ore
  • Network18 reports Q3 net profit of Rs 77.16 cr
  • Volkswagen, Ford to announce automotive alliance
  • European Union to step up planning for no deal Brexit
  • Govt forms panel to resolve GST issues troubling real estate sector
  • Air passenger traffic to grow sixfold by 2040: Report
  • Adani Transmission to raise up to ₹3,000 crore via QIP
  • HPCL unlikely to partner Total for LPG cavern in Mangalore
  • Sebi amends guidelines for Real state Investment Trusts, Infrastructure Investment Trusts
  • Fortis Healthcare completes acquisition of Singapore-listed RHT assets
  • Delhi HC seeks government’s response on Dena-Vijaya-Bank of Baroda merger
  • Liberty moves NCLAT against MSTC’s Rs 100 crore claim from Amtek Auto
  • Moody’s lowers Ireda rating outlook on rising ‘problem assets’
  • Syndicate Bank creates vertical to recover Rs 27,000 cr NPAs
  • Role of credit rating agencies’ must be assessed: Rajiv Kumar
  • Volkswagen to contest NGT fine of Rs 171.34 cr
  • BoB may get Rs 7,000-8,000 cr ahead of merger rollout
  • MPC could leave rates unchanged in February
  • 90% of wood for paper grown by farmers in India

Morning Business News Round Up_Jan 14, 2019

Morning Business News :

  • Govt re-promulgates ordinance to amend companies law
  • Fiscal deficit target for 2018-19 likely to be breached
  • RBI cautions govt over NPA spike in MUDRA loans
  • UAE, Saudi to invest in India for food security: Prabhu
  • Only 22% shareholders exit IDBI Bank following open offer by LIC
  • Fresh auctions for power pacts likely soon
  • Airlines may face cap on take-off and landing slots in congested airports
  • Changing subscriber base to shape revenue growth for telecom firms
  • Saudis set for $11-billion asset selling blitz after a slow start
  • Govt to construct 44 strategic roads along the India-China border
  • Jet Airways’ 18 aircraft held back in Singapore over unpaid dues

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  • RBI net-seller of dollars in Nov, unwinding USD 644 mn
  • Cabinet set to sign off on₹22,000-cr Numaligarh Refinery expansion
  • CII calls for agri sector tax sops in Budget 2019
  • ‘Digital platform helps Maharashtra save ₹12k cr in farm loan’
  • D-Mart’s margins under pressure, revenue up 33%
  • M1xchange eyes ₹12,000 cr business volumes in 2019-20
  • Essel in talks to sell part of its roads portfolio
  • Finance ministry may sell part of SUUTI holding in Axis Bank, ITC
  • BPCL to raise $500 million from overseas bond sale
  • Buyout deals drive bumper 2018 for private equity, says report
  • Valuation concerns dampen activity in seed stage VC deals
  • Viacom in talks to sell majority stake in China operations: report
  • India’s largest startup ecosystem inaugurated in Kerala
  • FICCI for cut in corporate tax rate in Budget
  • Oil output cut: Saudis say OPEC+ move provided a lifeline to US shale
  • PNB’s stake sale in housing subsidiary gets delayed
  • Government working on bilateral trade pacts to push exports, says Suresh Prabhu
  • BSNL faces huge technical, policy, low motivation challenge : IIM-A report
  • FPIs pull out Rs 3,600 crore in 9 sessions
  • Remission of state levies for more export sectors weighed
  • Jeera to see more correction after roller-coaster ride
  • NCLT admits insolvency proceedings against Parsvnath Landmark

Morning Business News Round Up_Jan 10, 2019

  • Saudi to slash oil exports by 800,000 barrels per day
  • Ashok Leyland bags orders for 2,580 buses
  • RBI makes changes to Gold Monetisation Scheme
  • Telcos fail to meet quality norms in Jun-Sep 2018
  • Govt recommends Maharatna status to Power Grid
  • Banks give $900-million idea to Jet to stay afloat
  • Telcos for lawful interception of OTT messages
  • IndusInd Bank posts 5% growth for Dec quarter due to IL&FS provisioning
  • Adani Group may pick 51% lenders’ stake in TN’s power firm Coastal Energen
  • Drop in oil, metal prices likely to hurt Nifty50 companies’ Q3 net profit
  • Aurangabad, Chennai plants may be sold, not shut: Pfizer tells employees
  • Maharashtra cooperative mills seek release of pledged sugar held with PSBs
  • India poised to become third-largest consumer market: WEF
  • India’s bauxite output growth to accelerate: Fitch
  • IOC bullish on producing fuel from CO2 in 3 years
  • ABB’s global business rejig will benefit Indian operations
  • MCA summons officers, directors of Usha Martin
  • Adani Group to develop Data Center Park in Vizag
  • Venture capital exits climb to a record $165 billion in 2018
  • Interim Budget 2019 on 1 Feb, Jaitley may play poll tune
  • Bhushan Steel to raise ₹24,000 crore from Tata Steel
  • 30 suitors line up for IL&FS road asset sale
  • Essel Group in talks to raise $400 million to refinance debt
  • Auto firms say steel import norms will delay manufacturing
  • GST will boost India’s economic growth in coming years: India Inc
  • Air India stake sale to fetch Rs 7,000 crore; govt eyes disinvestment next fiscal year
  • Buy-backs, dividends to government left HAL poorer by Rs 15,500 Crore
  • Binani Cement: SC rejects Dalmia Bharat’s review petition
  • Shell acquires 26% stake in Hazira LNG
  • Asirvad to secure PE funding; aims for IPO, Rs 10,000 crore AUM
  • CII for doubling I-T exemption to Rs 5L, hiking 80C deduction limit
  • Rs 18,000 crore subsidy in works for stressed gas-based power projects

Morning Business News Round Up_Jan 09, 2019

  • RBI issues guidelines for card transactions
  • Infosys to consider share buyback, special dividend
  • Rs 6K cr assets detected under black money law
  • No proposal to give more powers to RBI: Govt
  • Vedanta to approach TN govt to restart Sterlite plant
  • Jalan panel report on RBI reserve likely in April
  • CAG favours policy framework for off-budget financing
  • Direct tax collection shortfall worry likely to add fiscal deficit woes
  • GST, excise, service tax evasion shoots up to Rs 48,555 cr in Apr-Dec
  • SC overturns Delhi HC ruling, grants Bt Cotton patent to Monsanto
  • NTPC to invest Rs 10,300 cr in greenfield thermal and solar plants in UP
  • Booster dose for pharma as Govt okays refund on foreign plant inspection
  • Allcargo makes space for Flipkart, Decathlon
  • Loans, deposits by Indians in Swiss banks down 34.5% in 2017
  • Prabhat Dairy plans to enter animal nutrition business
  • Pfizer to exit two more plants in India
  • Bengal Chemicals eyes larger presence in e-comm trade
  • Tata Steel sales down 10 per cent
  • RBI sets up panel under Nandan Nilekani to boost digital payments
  • Cabinet gives land to GAIL to set up CNG station in Patna
  • Myntra revenue shrunk by 80% to ₹427 crore in FY18
  • Mobile wallet transactions decline in November: RBI
  • Banks ask Jet Airways to explain its liquidity situation
  • Mumbai PPA brings earnings visibility for Tata Power
  • RBI cancels registration of 45 NBFCs; West Bengal tops list
  • IBM receives 9,100 patents in 2018; India second highest contributor
  • Trade talks with China going ‘very well’, says US president Donald Trump
  • Gita Gopinath joins IMF as its first female chief economist
  • Skies darkening over the global economy, says World Bank
  • NMDC to buy back Rs 1k cr shares
  • Post-death transfer of demat shares now requires physical documents
  • Iran hopes India will seek another waiver from US sanctions
  • Iran bank to become channel for rupee/rial dealings
  • Shoppers Stop evaluates FDI, e-comm strategy
  • Kharif crops sell below MSP; rabi sowing falls

Morning Business News Round Up_Jan 08, 2019

  • India to grow at 7.2 per cent in 2018-19: Government
  • Bandhan Bank to acquire HDFC-led Gruh Finance
  • Banks’ NPA level on the decline: RBI Governor
  • Resolve issues over dues by Jan 11: SC to RCom, RJio
  • Govt allows ONGC, OIL to induct foreign partner
  • Funds to cut equity allocations in 2019: Blackrock
  • Trade war ‘certainly’ hurting China economy: US official
  • Highway labourer at par with construction worker after new wage norms
  • RBI forms committee to look into issues of MSMEs, functioning of banks
  • After 3-month gap, HPCL, BPCL to import 1 mn barrels of Iranian oil in Feb
  • MF equity assets only 4% of India’s GDP, lags global average of 35%: Report
  • Essar Global Fund completes Rs 42,000 cr final debt tranche
  • Centre eyes $600-m from Round II of OALP bids
  • Corporates set to report lower revenue, profit growth in Q3
  • Direct tax mop-up rises 14.1% to Rs 8.74 lakh cr during April-Dec 2018
  • Lupin gets USFDA nod for generic schizophrenia drug
  • US-based Ecolab sets up global digital centre in Bengaluru
  • IL&FS Transportation defaults on dividend payment of Rs 7.12 cr
  • HDFC is the biggest winner in Bandhan-Gruh Finance merger
  • India takes over operations of part of Chabahar port in Iran
  • KPMG special audit finds Reid & Taylor promoters defrauded firm of ₹3,524 crore
  • Bitcoin pushes past $4,000 as technical gauge turns positive
  • 15 airlines bid for 111 routes in third round of UDAN auction
  • Elon Musk lays foundation of USD 7 billion Tesla plant in China
  • Jet Airways in talks to defer or reduce payments to vendors as lenders push for revival plan by month-end
  • Crude shocker can be rude shocks for economy: RBI economists
  • Amazon emerges as most valuable US firm amid market turmoil
  • Srei, Norway’s ECN in equipment import pact
  • Rs 40,000 cr investment expected in OALP-II bid round
  • To improve revenues, BSNL ties up with Eros for web content
  • OVL acquisitions fail to augment energy security
  • No decision on interim dividend yet: RBI

Morning Business News Round Up_Jan 07, 2019

Morning Business News :

  • ONGC to invest Rs 6K cr in drilling 200 wells in Assam
  • RCom says Ericsson endangering interest of creditors
  • GST panel favours Kerala levying 1% cess for 2 years
  • Buildings have to keep 20% parking area for EV charging
  • Try diverting gas from non-core sectors to power units’
  • MFs add Rs 1.24 lakh crore to asset base in 2018 on SIP flows, strong retail participation
  • IT companies eye $80-billion pie as contracts up for renewal in 2019
  • Reliance Jio may capture 51% revenue market share in 3 years: Analysts
  • Credit growth of private and non-PCA banks surges, says RBI report
  • Every $10 per barrel hike in oil price raises CPI by 0.49%, says study

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  • Apple to hold talks with Indian govt after battering in China market
  • NCLT allows removal of a company auditor on government plea
  • NSEL scam: 2015 police report gives SEBI fresh ammo against brokers
  • Rural economy to get a big boost due to elections: Mistry
  • Adani Power sees immediate need to restart capex cycle, says CEO
  • BHEL commissions 800 MW supercritical thermal plant in Telangana in record time
  • New drug price cap exemptions pitch DoP against health ministry
  • Govt to launch second round of oil block auction today
  • Indian companies log record $129 billion in M&A deals in 2018
  • New drug price cap exemptions pitch DoP against health ministry
  • PTC India begins process to find investor for wind energy business
  • Nepal writes to RBI to declare banned new Indian currency notes legal
  • Dollar slide: Goldman Sachs to bet on weaker US currency
  • Corporate Affairs Ministry to collect KYC details of companies, CAs
  • Govt, RBI developing new system to collect information on NBFCs
  • MFs add Rs 1.24 lakh cr to asset base in 2018
  • Cabinet to soon consider framework for monetising assets of CPSEs
  • Gems, jewellery exports decline 6.77% in April-November
  • GoM fails to agree on new GST registration limit for MSMEs

Morning Business News Round Up_Jan 03, 2019

Morning Business News :

  • Oil cos not to recoup losses from subsidy on fuel
  • PCA banks to gain from RBI move on MSME bad loans
  • Indian textile firms face higher trade barriers in EU, US
  • Panel under UK Sinha to suggest measures for MSMEs
  • Cabinet approves sops for exporters on select goods
  • HDFC plans to raise Rs 45,000 crore via NCDs
  • Trai moves SC against TDSAT order on predatory pricing

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  • Cabinet clears merger of Dena Bank, Vijaya Bank with Bank of Baroda
  • Ashok Leyland acquires 27.25% more stake in AAL; shareholding ups 76.25%
  • ONGC to reconsider government demand to list exploration subsidiary
  • Hetero Group acquires Spain’s Tarbis Farma for an undisclosed sum
  • Cash-strapped Jet Airways defaults on debt payment to banks led by SBI
  • NCLT Mumbai puts RTIL’s liquidation plans on hold
  • Despite all its woes, power sector set for a brighter 2019
  • GST Council meet may consider rate rationalisation on housing
  • Titagarh sees European operations getting back on the rails

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  • Self-driving rental firm Zoomcar’s revenues up 31%
  • Tata Power will continue supplying power to Mumbai’s BEST for 5 years
  • Indian Oil, BPCL, HPCL stop taking margin hit on petrol, diesel sales
  • Alcohol firms are the unlikely victims of farm loan waiver
  • Syndicate Bank to raise up to Rs 500 crore by issuing shares to staff
  • Oil falls towards $53 on economic worries, surging supply
  • Govt hasn’t yet asked ONGC to reconsider ONGC Videsh IPO
  • NCLAT disposes of contempt plea against Reliance Infratel
  • Iran to invest about Rs 1,500 crore to boost capacity of Chennai Petroleum
  • Syndicate Bank & SBI Life Insurance sign a bancassurance pact
  • Cabinet approves bill to provide statutory recognition to trade unions
  • TN govt moves SC against NGT order on Sterlite plant
  • India to get data on Swiss banks accounts in 2019
  • IGST on gold for export scrapped
  • PNB Housing raises $265m through ECB
  • Companies, PE firms grab relinquished pharma biz

Morning Business News Round Up_Jan 02, 2019

Morning Business News :

  • Exporters look forward to online refund of input tax credit
  • Price, not distance, will be the key for crude oil purchases from US
  • Tight liquidity, low sentiment slow down auto makers in Dec
  • India cuts tax on palm oil imports from Asean nations
  • Competition panel approves Resurgent’s acquisition of Prayagraj Power Generation
  • MEP Infra ties up ₹568 crore for Thane-Vadape road project
  • Worst of the NPA crisis is over, says RBI report
  • Urjit Patel wanted to resign months ago, says Narendra Modi
  • Financial constraints may slow down nation’s Metro rail story
  • Era Infra lenders may seek investors to fund litigation
  • Sebi notifies physical delivery of derivatives in phased manner

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  • Blackstone Group has sent arbitration notice: Gateway Distriparks
  • NBFCs still lost deep in the woods, says Uday Kotak
  • Government notifies new annual GST return forms
  • Fortis extends date to buy assets held by RHT
  • Urban Ladder posts 137.60% increase in FY18 revenues
  • ITD Cementation to shoulder Rs 7,525-crore AVPPL’s granite woes
  • India remains fastest growing economy ahead of China
  • Four-fold jump in quantum of money defrauded from banks in 4 yrs: RBI
  • MTNL turns to DoT to pay December salary
  • 10-yr gilt yields decline on RBI rate cut hopes
  • Banks’ bilateral exposure to financial system at 46.5%