Morning Business News Round Up_Nov 15,2019

Morning Business News:

  • Govt plans to cut stake in IOC to below 51%
  • ONGC Q2 profit slumps 24%; misses Street estimates
  • Airtel flags ‘going concern’ risk after big Q2 loss
  • GST return forms simplified, filing dates extended
  • India resumes buying Malaysian palm oil
  • Alstom to deliver 10 electric locomotives to rlys this fiscal
  • L&T Cap likely to sell Dubai Wealth business
  • At Rs 6 trn, CBDT’s direct-tax mop-up so far less than 50% of FY20 target
  • 56% of UK companies upbeat about doing business in India: UKIBC Report
  • Sebi allows exchanges to modify commodity derivatives contracts
  • Glenmark Pharma net declines 38% to Rs 255.54 cr in September quarter
  • Grasim Industries Q2 net jumps to Rs 1,473 cr on good show by subsidiaries
  • Steel companies hike prices by Rs 500-750 a tonne for the first time this fiscal
  • UK companies say a business with India may increase after Brexit
  • Q2 results: NBCC reports a net loss of Rs 90.91 crore

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  • Vedanta Q2 profit rises 61% to Rs 2,158 cr
  • Several wind power projects miss completion deadlines
  • GVK Power’s Q2 loss widens to Rs 159 cr
  • PNB bank fraud: CBI set to file fresh charges in $2 billion scams, says the report
  • Union Bank of India posts Q2 net loss at Rs1,194 crore
  • Malvinder Singh, former Fortis Healthcare promoter, arrested
  • Moody’s affirms RIL’s Baa2 ratings with a stable outlook
  • CCI approves Adani’s 23.5% stake-buy in Mumbai International Airport
  • India resumes buying Malaysian palm oil as Kuala Lumpur offers discount
  • US-China trade war is good news for India’s this export business
  • Walmart Q3 earnings surge to $3.3 billion, beating expectations
  • Downgrade: Now, Moody’s cuts India GDP forecast for 2019 to 5.6%
  • Govt may hive off India Post’s life insurance biz into a separate company
  • Wholesale price index eases to 0.16 percent in October
  • Sensex ends 170 points higher; bank, IT stocks save the day
  • ‘RBI to cut rates by 40 bps by Feb despite high inflation
  • Aurobindo Pharma Ltd unit gets 14 observations
  • Gold supply by domestic refineries dips by one-third

Morning Business News Round Up_Nov 14,2019

Morning Business News:

  • Pay AGR dues as per SC order: DoT to telcos
  • CPI hits a 16-month high, breaches RBI’s target
  • CoC extends RCom’s asset bid deadline by 10 days
  • Govt to institutionalize social audits in rural schemes
  • KEC International bags new orders of Rs 2,255 cr
  • US tech body opposes India’s bid for data localization
  • India’s growth should bottom out in Dec qtr: CLSA
  • Voda boss says Indian JV remark distorted, apologizes to govt
  • Major ports record a muted performance on fall in coal, fertilizer cargo
  • Indian plastic exports to Pakistan decline by 91% on soured relations
  • MFs’ exposure to NBFCs down 30% in 15 months since IL&FS crisis broke out
  • Sebi puts in place disclosure framework for municipal debt securities
  • HAL profit up 116% to Rs 621 cr in Sep quarter; revenue grows 32%
  • Liquidation of Voda-Idea may mean $1.7-trillion hit for shareholders
  • ITC to pick up 33.42% stake in vending machine maker Delectable

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  • SAT to hear RIL appeal against SEBI in ₹2,000 crore Reliance Petroleum case
  • RBI sees sharp fall in consumption
  • CG Power’s foreign subsidiaries face financial crunch, legal issues
  • NBCC, Suraksha Realty asked to submit fresh bids to buy Jaypee Infratech
  • Railways record lowest freight loading since 2010
  • ABB India pulls off strong profit growth but order flow concerns remain
  • SpiceJet Ltd reports ₹461 crores September quarter loss
  • BSNL to raise ₹15000 crore through sovereign bonds next month
  • US-based Dole Food Co to enter India through a tie-up with Future Group
  • High levies, low tariffs double whammy for the telecom industry
  • Yes Bank faces fresh audit into complaints by whistleblower
  • Vedanta SEZ in Odisha seeks permission to locally procure petroleum coke
  • NBCC, Suraksha Realty asked to submit fresh bids to acquire Jaypee Infratech
  • Red-flagging exposures: Banks may classify DHFL as a fraud account
  • Adani Power second-quarter profit falls 99% on poor sales
  • Rupee tumbles 62 paise, could remain weak
  • Sensex tumbles 229 points as weak macro data, rupee woes weigh
  • NABARD seeks credit disbursal from banks on a monthly basis
  • RBI becomes the net buyer of dollars in Sept, bought USD 5.61 billion
  • Dividend tax burden may shift to investors

Morning Business News Round Up_Nov 13,2019

Morning Business News:

  • India invites foreign firms to invest in the oil sector
  • Another whistleblower guns at Infosys CEO Parekh
  • India’s July-Sep quarter GDP numbers crucial: Report
  • Tata Group is looking for a partner to help fix the Jaguar business
  • IL&FS gets banks’ nod for sale of education biz
  • Tata Motors global wholesales dip 19% in October
  • JSW Steel output falls 13 percent to 12.54 LT in Oct
  • Stability, regulatory reforms to boost economic growth: BSE MD Chauhan
  • India-ASEAN bilateral trade may double by 2025 to $300 billion: Study
  • Govt to consider TCS, Infosys offers to set up infotech SEZs on Nov 15
  • Aurobindo consolidated Q2 profit before tax up 5.9% at Rs 904 crore
  • UltraTech to sell stake in Bangladesh-based units to HeidelbergCement
  • India can gain from US-China trade war: RBI study
  • SBI’s Economic Research team cuts India’s FY20 GDP forecast to 5%
  • Tata Motors’ India operations face acute challenges: Moody’s
  • MMTC extends tender offer to sell 6% stake in ICEX till November

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  • States should scrap APMCs and move on to eNAM: FM
  • Apple tops India premium segment with 51.3% market share in Q3, says IDC
  • Moody’s downgrades Macrotech Developers (Lodha ) to Caa1
  • India, other BRICS members to strengthen cooperation in the digital economy: Modi
  • Embassy REIT to raise debt, equity to fund acquisitions
  • Airbnb counts India among its top three fastest-growing EMs
  • India to cross 200 GW renewable energy capacity mark by 2022: Power Minister RK Singh
  • Lodha group arranges $325 million funds to repay bonds maturing in March
  • Ahead of the meet with USTR, Piyush Goyal flags ‘predatory pricing’ in e-commerce
  • Airtel submit bids for RCom spectrum; Jio seeks deadline extension by 10 days
  • Coal India Q2 net profit up 14 pc to Rs 3,522 crore
  • Solar installations drop 35 percent in the first half
  • Oil tanker to become Asia’s refueling hub
  • Vodafone’s future in India in doubt after latest setback
  • Govt within its rights to hold spectrum auction: COAI
  • Jindal Stainless reports Q2 profit at Rs 52 crore

Morning Business News Round Up_Nov 7,2019

Morning Business News:

  • Single-window clearance likely for private coal blocks
  • India may not have shut the door on RCEP
  • Govt’s Rs 25,000cr realty booster inadequate: ICRA
  • AGR ruling may hit any company with telecom license
  • 22,000 employees opt for BSNL VRS plan in 2 days
  • Sebi allows MFs to create a segregated portfolio for unrated debt
  • Raymond to demerge core lifestyle business
  • Govt not planning to help banks rescue shadow lender DHFL: Report
  • Aramco’s offer of $75 bn dividends can stretch finances during the oil slump
  • Sun Pharma posts Rs 1,433-crore pre-tax profit in Q2, meets estimates
  • Tea Board open to holding talks with ITC to sort out trademark issue
  • Irdai directs Reliance Health Insurance to stop selling new policies
  • Ship-building industry to get a great boost: Union Minister

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  • Kesoram Industries awaits NCLT nod for demerging tires business
  • Cairn Oil & Gas gets the 10-year extension for Ravva field
  • Modi to head for BRICS meet with big biz team
  • Powerplus Traders bags Jagannathpur B coal mine
  • Solar Industries’ profit jumps 61% on tax write-back
  • China, the US to lift some tariff hikes as trade talks advance
  • Sebi asks MFs to report any changes in terms of investments to rating agencies
  • CBIC’s DIN system to come into effect on November 8
  • DLF Q2 profit rises 19% to ₹445 crore
  • 73% urban Indians can afford a new home, says the survey
  • NBFCs, HFCs may be brought under bankruptcy code
  • Global debt surges to record high $188 to IMF chief
  • India may impose an anti-subsidy duty on imports of copper wire rods from four nations
  • Corporation Bank to raise up to Rs 1,000 crore by issuing Basel III compliant bonds
  • PLFs of many power plants to fall to 40% by 2022: Report
  • India reiterates call for lifting US sanctions against Cuba
  • Rupee recovers losses to end flat on US-China trade deal hopes
  • Sensex jumps 184 points to hit new record high; Nifty reclaims 12,000 mark
  • Gold prices up to Rs 70 on rupee depreciation
  • ICICI Bank opens 57 branches in AP, Telangana this fiscal
  • Nirmala Sitharaman reviews the state of the economy at FSDC meeting

Morning Business News Round Up_Nov 6,2019

 

Morning Business News:

  • Govt working with RBI to revive realty sector: FM
  • China wants the US to drop tariffs on $360 bn of imports
  • BPCL stake sale may affect govt-oil cos linkages: IndRa
  • Only 15% of cases under IBC resolved: Report
  • MSCI may ax debt-laden companies from its indices
  • NCLT okays Max India -Max healthcare assets merger
  • PNB expects 10-12% operating profit growth in H2
  • Govt considering one-time settlement option in drug overcharging cases
  • Bourses should refrain from using their oligopolistic position: Sebi chief
  • China presses the US to drop tariffs on $360 bn of imports before the trade deal
  • Jindal Steel posts consolidated net loss of Rs 399.31 cr in Sep quarter
  • NSE seeks cut in tax on capital market transactions to boost investment
  • Sebi issues a detailed circular on Aadhaar e-KYC for domestic investors

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  • Metals sector lauds India’s withdrawal from RCEP
  • Excess rain has damaged Kharif crops: Skymet
  • Sugar production estimated to be 260 lakh tonnes: ISMA
  • Apollo Tyre’s net dives 43% on the slowdown
  • REC Q2 net down 26% to ₹ 1,306.76 crore
  • Torrent Power net rises 83% to Rs 755 cr in Sept qtr
  • Worst may be over for global economy amid signs of stabilization
  • Holdings of gold-backed ETFs hit an all-time high: WGC
  • Tech Mahindra acquires BORN Group for $95 million
  • Sebi revives eKYC procedure for mutual fund investors
  • Suzuki’s Apr-Sep profit plunges 42% as sales slide in India, Japan
  • Tech revolution: Blockchain can transform trading, says Sebi chief
  • PNB clocks Q2 profit of Rs 507 cr as provision eases
  • Bankers expect the resolution to DHFL issue by December end
  • Supreme Court stalls Tata Housing Project in Chandigarh
  • Crude oil futures fall on low demand
  • RCEP door is closed, but not forever: Govt
  • IndiGo, Qatar Airways to announce strategic deal
  • Rupee rises 8 paise against US dollar on forex inflows
  • The withdrawal limit for PMC Bank depositors raised to Rs 50,000

Morning Business News Round Up_Nov 5,2019

 

Morning Business News:

  • Bank loans to moderate to a 25-year low in FY’20: Report
  • RBI cracks the whip on poorly-performing private bank CEOs
  • Sebi issues clarifications on PIT Regulations
  • 1L jobs at risk as vendors seek Rs 20,000 cr from BSNL
  • NBFCs need better tools to detect liquidity strains: RBI
  • Trai defers implementation of new MNP rules indefinitely
  • Bajaj Finance fixes QIP floor price at Rs 4,019.78
  • RBI mandates 67% variable pay component for the brass of private, foreign banks
  • Acquisition of power plants to boost JSW Energy’s growth prospects
  • Trai extends Nov 11 mobile number portability deadline due to tech issues
  • Rs 800 bn stuck in stalled realty projects; NBFC concerns overdone: Citi
  • NBFCs will have to maintain liquidity coverage ratio, says RBI

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  • Bandhan Bank board okays an increase in foreign investment to 49%
  • Infosys: No prima facie evidence to support allegations of whistleblower group
  • India, Japan review situation in Indo-Pacific
  • SEBI frames new diktat for credit rating agencies
  • Infosys: No prima facie evidence to support allegations of whistleblower group
  • Sundram Fasteners’ Q2 profit falls 36%
  • ₹92,000 cr telecom fine may have a ripple effect on the digital economy
  • RBI extends rollout date for LCR norms to Dec next year
  • Tata Power, Rockefeller Foundation plan 10,000 microgrids across rural India
  • The current economic downturn seems self-inflicted through GST, note ban: Report
  • Uber India allots shares worth ₹2,540 crores to Dutch group entity
  • Tata Steel arm to sell entire stake in NSV for Rs 36 crore
  • Vendors mull insolvency action against BSNL, MTNL for pending payments
  • MSMEs attract 85% industry credit in September; monthly growth turns positive for 1st time in FY20
  • Indian companies evade large part of CSR mandate; half of them don’t even report
  • India’s October gold imports drop 33 pc on weak festive demand: source
  • Housing sales down 9 percent, new units drop 24 percent
  • Cadila Healthcare’s Moraiya facility gets FDA warning letter
  • Sensex hits a record peak of 40,435; Nifty nears 12,000
  • Burger King India looks to raise Rs 400 crore from IPO

Morning Business News Round Up_Nov 4,2019

Morning Business News:

  • India to make South Asia the global growth center: IMF
  • ‘Over 3,400 branches of PSBs closed or merged in 5 yrs’
  • Stopped payment to creditors after court orders: DHFL
  • Yes Bank’s asset-quality woes to continue: Report
  • Maruti ‘cautiously optimistic’ on future sales
  • Thomas Cook India not part of the global sale to Fosun
  • Saudis may reduce Aramco IPO size to $1.6 trillion
  • FEMA norms may raise investment bar on foreign-owned mutual funds
  • Despite the unavailability of MAT credit, 60% of firms opt for the lower tax regime
  • The minimum wage for workers likely to increase in the next three months
  • MCA floats a new testing proposal to filter frivolous independent directors
  • McNally Bharat pins hope at strategic investors and partners for revival
  • Experts raise alarm bells on talent flight amid crackdown on audit firms

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  • US Treasury Secretary holds talks with RBI Governor Shaktikanta Das over the economy
  • NHAI terminates concession pacts of 2 IRB Infrastructure road projects
  • Siemens signs MoU with NTPC, TERI on decarbonization, energy transition
  • Unichem Labs Q2 net loss narrows to Rs 22.2 crore
  • SEBI directive: Banks start disclosing divergence in asset classification and provisioning
  • Traders’ body CAIT to launch a nation-wide movement against Amazon, Flipkart
  • Mutual fund houses approach Sebi with 125 new schemes in 2019 so far
  • Two-phased strategic disinvestment for BPCL likely
  • Prasad directs BSNL, MTNL to proceed quickly on VRS, asset monetization plans
  • Fundraising by PE, VC firms in January-September at a five-year high
  • Finance Ministry plans next tranches of CPSE, Bharat 22 ETFs in the fourth quarter
  • Yes Bank looking for $1.2 billion funding by December, give board seat to new investors
  • TCS, Wipro in the fray to manage Irdai’s Business Analytics Project
  • RERA officials to approach housing ministry for clarity vis-a-vis IBC
  • Power gencos’ outstanding dues on discoms rise 37 pc to Rs 70,000 cr in Sept
  • Germany to invest 1 billion euros for green urban mobility in India
  • RBI revamps departments for effective supervision, regulation of the banking sector

Morning Business News Round Up_Nov 1,2019

Morning Business News:

  • YES Bank gets a binding offer for $1.2 bn
  • India loses major WTO dispute to the US
  • Sebi tightens rules for bad loan disclosures by banks
  • Not leaving India, will back JV: Vodafone UK
  • PSBs extend support of Rs 2.56L-cr to stressed NBFCs
  • Coal India’s October production may fall 20%
  • China doubts long-term trade deal possible with Trump
  • Irdai asks insurers to give details on exposure to DHFL, IL&FS, ADAG
  • FinMin claims huge progress in a report on measures to boost the economy
  • IOC Sept quarter net profit slumps 83% at Rs 563.4 crore
  • Govt not considering any proposal for gold amnesty scheme: Report

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  • Syndicate Bank posts Rs 251-cr Q2 profit, versus Rs 1,543-cr loss last year
  • Core sector output falls 5.2 percent in September
  • Fiscal deficit reaches 92.6 percent for six months
  • Tube Investments’ Q2 PAT grows 58% at ₹90 crore
  • Adani Transmission bags two projects from REC Transmission in Gujarat
  • IBC: No back-door entry for ineligible promoters in liquidation proceedings
  • India’s sugar output seen falling, global deficit rises
  • GSK Consumer Healthcare re-launches Crocin Pain Relief
  • Govt actively taking steps to boost the economy: FinMin
  • ShopClues to merge with Singapore-based Qoo10
  • GM recalls 638,000 US SUVs, trucks for unintended braking
  • Paytm Mall trims losses by 34% in FY19 to Rs1,171 crore
  • India loses export incentive case filed by the US at WTO
  • Rescuing former cash cows BSNL, MTNL is widening India’s fiscal deficit
  • 7000 businesses to be set-up in these states under SIDBI’s mega move to boost entrepreneurship
  • Digital payments surge to dent banks’ revenues by $9 billion
  • Reliance Jio says telcos have sufficient capacity to pay dues after SC verdict
  • Auto sector’s contribution to GDP may slip to 7 pc this fiscal: Acute Ratings
  • No more FTAs signing in rush assures Piyush Goyal
  • Muthoot Finance board approves USD 450 mn fund-raise
  • Sensex closes at 40,129, extends gains for 5th session
  • Gold prices up to Rs 115 to Rs 39,017 per 10 gram
  • Banks’ payments revenues to dent by USD 9 billion by 2025: report

Morning Business News Round Up_Oct 31,2019

Morning Business News:

  • US economy grows 1.9% in Q3 despite trade war
  • Indian, Chinese economies to accelerate in Q4: Report
  • Govt may not cut Income tax rates due to fiscal stress
  • Unitech loses property in Noida over Rs 1,203 cr dues
  • Fitch places Airtel rating on negative watch on SC ruling
  • Govt-RIL at loggerheads over the sale of gas
  • India ranks third among Asian countries for environmental sustainability
  • Canara Bank to issue shares to govt in lieu of Rs 6,571-cr capital infusion
  • AIF industry eyes Rs 2.9-trillion opportunity in cash-strapped firms
  • Standard Life sells about 5% stake in HDFC Life Insurance for Rs 5,752 cr
  • CCI approves Abu Dhabi Future Energy’s equity stake purchase in Hero Future

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  • BHEL to showcase advanced ultra-supercritical technology for generating clean power
  • International Paper APPM sells 55% stake to WCPM
  • JK Tyre Q2 net profit jumps multifold to ₹168 crore
  • Indoco Remedies posts net profit of Rs 7.81 cr in Q2
  • SAIL may replace NMDC in JV with Australian firm for steel making
  • Nestle to weigh $1 bn sales of local Chinese brands
  • Abu Dhabi’s Masdar to buy a minority stake in Hero Future Energies
  • HDFC acquires 9.89% stake in Bandhan Bank
  • COAI’s plea to DoT to bail out older telcos unwarranted: Jio
  • Blackstone buys a 37.5% stake in Aakash Educational Services
  • ShareChat FY19 losses surge 12-fold at Rs414.7 crore
  • KKR sells 5.46 million SBI Life shares for Rs533.7 crore
  • Finance Commission weighing incentives for states for farm reforms
  • Marine exports to China may cross $1-billion mark by year-end
  • Air India seeks $819 million loans for 7 Boeing planes
  • Apple India net profit falls 70% to Rs 262 cr in FY’19
  • Firms bank on Commvault to leverage unstructured data sans security breaches
  • IDBI Bank sells over 0.72 percent stake in NSE
  • Rupee slips 6 paise against dollar ahead of US Fed policy outcome
  • India will not sign any free-trade agreement in a rush: Goyal
  • PMC Bank depositors continue protest seeking payback
  • Govt’s Rs 15,000 cr soft loan scheme to sugar mills moving at snail’s pace: experts

Morning Business News Round Up_Oct 29,2019

Morning Business News :

  • SC ruling could ring death knell for Vodafone Idea, Airtel
  • SEZ services’ units may soon accept payment in Re
  • Trade deal with China to be signed ahead of schedule
  • Google owner Alphabet in bid to buy Fitbit: Sources
  • LVMH wants to buy jeweler Tiffany for $14.5 bln
  • AGR verdict: Sunil Bharti Mittal knocks on govt doors
  • Govt likely to reject telcos’ demand for 2-year spectrum fee moratorium
  • BRICS has lost relevance as economic grouping, says Standard & Poor’s
  • Housing finance companies’ gross non-performing assets up 2.2%: Icra
  • US equity outflows to cash, bonds biggest since 2008: Goldman Sachs
  • Unemployment, sluggish growth fuelling unrest in Arab states: IMF
  • RIL debt reallocation a step towards Reliance Jio monetisation: Emkay
  • RCEP deal: Japan tries to convince China to relax demands on India
  • BMS rejects draft Labour Code on social security
  • Arbitration Tribunal delays award in ₹10,247-cr Cairn retro tax case to mid-2020
  • GM strike ends after almost six weeks at cost of $2 billion
  • Jubilant Cadista recalls 63,216 bottles of erosive esophagitis tablets
  • DGCA asks IndiGo to change engines for 16 A320 Neo planes
  • Flipkart’s net loss rises 86% to ₹3,837 cr in 2018-19

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  • Bitcoin flirts with $10,000 after China voices support for blockchain tech
  • Jewellery, apparel sales hit in Diwali amid economic slowdown: Report
  • Richard Branson’s Virgin Galactic space venture starts trading on NYSE
  • Apple ramps up smart home efforts to take on Amazon, Google
  • Solar auctions: Govt relaxes norms to attract bidders
  • Govt owed Rs 5L crore to industry at FY19-end: Niti Aayog estimate
  • Amazon India’s e-commerce arm narrows FY19 loss to Rs 5,685 crore
  • RIL’s digital business rejig to bring platform apps onto investor radar, say analysts
  • RBI imposes Rs 35 lakh fine on Tamilnad Mercantile Bank
  • Volkswagen finance chief outlines road map for $222-billion valuation.
  • Vodafone Idea to seek waiver after court ruling on overdue payments
  • HSBC third-quarter pre-tax profit falls 18 per cent, misses forecasts
  • ICICI Bank quarterly profit falls 28 per cent
  • Poor credit demand may hit deposit growth in H2