Month: May 2017

Morning Business News :

• Brookfield in talks to buy towers of Idea, Vodafone
• Regulators RBI, Sebi step up NSE algo probe
• EPFO to invest Rs 20,000 crore in equities in 2017-18
• FPIs stay bullish on India, pump in $4 billion in May
• RBI guidelines on P2P lending platform likely by July
• Various tax slabs under GST worry traders: CAIT
• IOC overtakes ONGC, become most profitable PSU
• Next big wave of liberalisation in FDI on the cards
• Taxing farm income is ‘politically challenging’, says top economist
• AIITEA mulls IT Employees United Front to address job cuts
• Coal India’s April coal despatch grows 6% to 45 mn tonnes
• Maruti Suzuki targets selling 3 lakh automatic cars annually by 2020

• Introduce indemnity clauses with suppliers on tax compliance: Expert
• India is second most complex tax jurisdiction: Deloitte
• CBDT committee to review ‘naming, shaming’ of tax defaulters
• PMO to take a call on imposing customs duty on mobile phones
• Cognizant layoff plea closed in favour of sacked staff: Govt
• RCom Q4 loss at Rs. 948 cr on disruptive pricing, competition
• Fairfax sells 12.18% stake in ICICI Lombard General Insurance
• Adani Power’s Q4 loss widens to Rs4,960 crore after SC decision on compensatory tariff
• Raymond to invest Rs350 crore in capex, retail expansion
• P-note investments hit 4-month low of Rs1.68 trillion in April
• Severe underemployment more serious than unemployment: Niti Aayog
• Every deptt should disclose demonetisation details: CIC
• GST gains to be ‘far less’ than initially envisioned: Nomura
• Poor show by banks, private investors challenge for economy: Arun Jaitley
• Government proposes strict norms for registered valuers
• ITC Q4 net profit up 12% to Rs 2,669.47 cr
• Tech Mahindra Q4 net drops 31% to Rs588 cr
• RCom hit by mobile price war
• Sugar production may see marginal increase
• Patanjali joins traders, industry in demanding lower GST rates

Morning Business News :

• Rs 1K cr from GAIL to make Dabhol an all-yr terminal
• JIO plans against TRAI norms: Vodafone to High Court
• ‘Bill to address bankruptcy in financial sector soon’
• Cabinet may decide on FIPB abolition  today
• Q4 GVA growth in India to drop to 6.6%: D&B
• Moody’s changes Bharti Airtel’s outlook to negative
• Radio Mirchi operator ENIL posts 18.6% revenue in Q4

• RBI defies SC order, refuses to disclose list of loan defaulters
• SFIO developing early warning system to detect corp frauds
• India eyeing to become a trillion-dollar digital economy by 2022
• Sebi appoints enquiry officer to vet Deloitte’s forensic audit on NSE
• Irdai to alter insurance policy covers for shops and hotels
• Crude oil output dips in April; natural gas production up
• ‘India-Africa ties a silver lining for global economy’
• TVS Logistics keen to expand, focus on packaging segment
• ASK Group to invest Rs. 200 cr in ATS Infra’s project in Noida
• Promoters’ ‘share pledges’ down only a bit despite market rally
• Govt offers tax concessions to Apple to expand production, says official
• Govt to table bankruptcy law for NBFCs, MFIs in monsoon session of Parliament
• Videocon shares continue to fall, slump 20% on loan repayment worries
• Warren Buffett plan to hold American Express shares revealed amid ads
• Jindal Steel Q4 net loss narrows to Rs 100 crore
• US-India relationship never been stronger: Trump administration
• India proposes RCEP business visa card under mega trade deal
• Won’t allow companies from country barring Indian firms: Piyush Goyal
• Johnson Controls-Hitachi Q4 net profit jumps 90% to Rs 25 cr
• GST Animal Farm: Donkeys exempted, horse-trading to invite 12% levy
• Telecom firms may pass gains of input tax credit
• Govt allows Tesla to manufacture in India without local sourcing
• Rupee drops 34p against greenback
• Tata Motors registers 16.8% decline in Q4 profit
• Sensex pares 205 pts, Nifty 52 pts
• Jindal summoned as accused in coalscam

Morning Business News :

• SoftBank’s Vision Fund raises $93 bn in its first close
• Small e-comm vendors will have to pay GST upfront
• EPFO to take call on raising ETF investment to 15%
• Govt initiates work on shifting financial year
• India doesn’t have a lot to lose by boycotting OBOR
• LIC investment income at Rs 1,80,117 crore in 2016-17
• Oil firms may take a Rs 25,000 crore hit from GST
• Turnaround stories bump up corporate profits
• CPI inflation may come down by 2% by year-end: Adhia
• Bajaj Auto in recovery mode in FY18 after note ban; BS-III ban hit sales
• UP sugarcane arrears at Rs 3,500 cr, 90% owed by private mills
• Zuari Agro Chemicals approves Rs 1,300 cr to revamp ammonia-urea plants
• BPCL to lay 20-inch insulated pipeline to boost capacity in Kochi refinery
• GST to cut inflation by 2%, create buoyancy in economy: Adhia

• Govt initiates work on shifting financial year to Jan-Dec
• FPIs stay bullish on India, pump in $2 billion in May
• Natco Pharma gets green nod for Rs. 480-cr expansion project
• ‘Indian govt working with stakeholders to devise new rules for clinical trials’
• Countries acting alone pose main risk to trade system, says WTO
• Oil ministry may block PSUs buying GDF International’s 10% stake in Petronet LNG
• BSE to shift 17 firms to restricted trading segment for non-compliance of listing rules
• Motherson Sumi lines up Rs2,000 crore capex for FY18
• Corporation Bank Q4 profit at Rs159.98 crore on lower provisions
• India to have science infrastructure sharing policy soon
• India’s economy to improve, cost of funds may rise: Report
• FPIs stay bullish on India, pump in $2 billion in May
• Consumer durables firms anticipate July-August sales dip on GST
• LIC’s equity play pays off in spades
• Richemont buys duty-free stake in Dufry AG amid AI talk
• Banks and borrowers to settle NPAs, hints Lavasa
• Falling oil prices gave no relief to consumers
• Exporters to get tax refund under GST within 7 days: Nirmala

Morning Business News :

• Govt power companies may not import coal in FY18
• Forecasters differ over El Niño probability
• SoftBank records $1.4 bn loss from India investments
• Videocon D2H, Dish TV merger gets CCI nod
• BS-III discounts trim Hero MotoCorp profit by 14%
• Rosneft to complete purchase of Essar Oil by June
• Star Health Insurance finalise bankers for exit plans
• Viability cloud over solar power as price hits new low
• PE investors cautious on real estate with new law
• RBI net buys $3.53 billion from spot market in March
• IndAS switch to impact banks’ earnings, return on equity
• Novelis sells 50% stakes of Ulsan facility to Japan’s Kobe Steel at $315 mn
• Claris Lifesciences might exit pharma biz altogether, enter FMCG space
• India set to get higher monsoon rains than forecast: IMD
• Petronet Q4 profit nearly doubles to Rs. 471 cr; board okays 50% dividend
• Apex court directs Home Ministry to ensure Mallya’s presence on July 10
• Global Cloud Xchange forms tie-up with Swiss-based Safe Host
• DLF Cybercity to invest Rs. 500 Cr for phase III expansion
• RBI’s prompt corrective action looms over 17 Indian banks, says Moody’s
• Kotak Mahindra Bank to launch $867 million share sale as early as this week: IFR

• Renault Duster fails Global NCAP crash tests
• Zee Entertainment Q4 profit jumps six times to Rs1,514 crore
• Cargo traffic at 12 major ports up 6% in April
• Markets close at record highs; Nifty tops 9400, Sensex above 30200 on monsoon hopes, FII buying
• India to import LPG from Iran to meet rising demand
• Patanjali eyes Rs 1 lakh-crore turnover in next 5 years
• Credit growth plunges to even lower than FY17 level to 4.3%
• Snapdeal-Flipkart merger likely today as Nexus almost on board
• LGBT to get due representation at Tata Steel
• PSBs, SUUTI to be part of CPSE exchange traded fund II
• Sharing DeMo details will hit economy: RBI
• Novelis sells 50% in Ulsan Aluminium to Kobe Steel to float Korean JV

Morning Business News :

• Sebi allows investors to buy mutual funds via digital wallet
• Rupee recovers 7 paise to 64.31 against dollar
• Renault India aims to be among top 5 by 2020
• 25-30% mid-term salary hikes, hefty bonuses for GST professionals ahead of tax rollout
• Vivo signs up as title sponsor of Pro Kabbadi League
• Union Bank of India Q4 net rises 12.5% on Rs 420-cr tax write-back
• Textbooks publisher S Chand to make stock market debut today
• HUDCO IPO subscribed 63% on Day 1

• Nifty Realty index hit 52-week high; DLF, Indiabulls, HDIL up over 5%
• Mutual funds go shopping; hike stake in PSBs in March quarter
• Royal Enfield may acquire Ducati, say reports but company denies move
• India poised to overtake Japan as No.3 solar PV market in 2017
• Crude oil futures surge to Rs. 3,009 per barrel
• Sterlite Power to raise ₹2,650 crthrough InvIT; launch on May 17
• Gold falls to to Rs. 28,550 despite firm global cues
• Ambuja Cements, ACC scrips strengthen as merger talks begin
• FSSAI wants additional tax on packaged food items, beverages
• Eris Lifesciences gets Sebi nod for Rs2,000 crore IPO
• Bharti Infratel Q4 profit falls 17% to Rs597 crore, misses estimates
• Sensex, Nifty close marginally higher, realty, IT stocks jump
• Welspun Corp Q4 net profit rises five-fold to Rs 69 crore
• Reliance Jio case: Vodafone in HC against TRAI’s network testing consultation
• Over 82% LPG coverage in 2017-18, 95% by 2018-19: Official
• TVS offers compensation of Rs 57 crore to dealers for loss during BSIII vehicle ban
• Airtel partners with Ola: From payments bank to digital wallets, here’s what’s on offer
• China April exports, imports rise less than expected
• Walchandnagar Inds spurts on buzz of PE investment
• IL&FS Transportation gains after subsidiary refinances debt
• SBI cuts home loan rates by up to 25 bps
• Eicher Motors hits record high after good Q4 results
• Canara Bank posts Rs214 crore Q4 profit on lower bad loan provisions

Morning Business News :

• Untaxed cash of US cos like Apple, Google more than India’s GDP
• CBI unearths 393 shell firms used to divert Rs 2900 cr, goes after Rs 30,000 cr more
• Upward revision in volume forecast to help sustain premium valuation of Eicher Motors
• Hinduja brothers top United Kingdom annual rich list
• Wipro threat: You can fall prey bitcoin-fuelled attack
• Indo-Russian 5th gen fighter takes shape as deal on design to be inked soon
• Mutual fund investments in stocks hit 5-month high of Rs 10k cr in April
• Rupee to be range-bound at 64-64.50 this week: Experts
• Tata Motors likely to sign 5-year wage pact with Sanand workers in June
• Essar Power will raise balanced debt of Rs 4,600 crore: CEO KVB Reddy
• Deal to store Abu Dhabi oil is on slippery ground
• Rising global steel prices make anti-dumping duty redundant
• India Inc’s 14.8% revenue growth in Q4 is a mirage
• Agriculture Ministry proposes hike in tur dal import duty to 20%
• SoftBank may finalize Snapdeal sale to Flipkart next week, in realignment of India strategy

• Trai to look into Reliance Jio complaints about customised retention offers
• Toyota Kirloskar Motor in talks with with parent firm to enhance exports
• GTL Infrastructure stake sale likely to value firm at Rs11,000 crore
• Emmanuel Macron wins French presidency with 65 per cent: Belgian paper cites Ipsos
• Tata Motors expects 15 per cent growth in commercial vehicles exports
• Railway projects worth Rs 90,000 crore undertaken in North-East region: Union Minister Suresh Prabhu
• Scrap all production subsidies: NITI Aayog’s Bibek Debroy
• India’s green car plan prioritises electric vehicles over hybrids
• ACC, Ambuja boards to start merger talks soon
• LIC to restructure lending biz

 

Morning Business News :

• Fitch keeps India’s sovereign rating unchanged
• Donald Trump advocates US government shutdown
• UK business transformation ongoing: Tata Steel
• India cuts oil import plans from Iran by a quarter
• Paytm sells over 30 kgs of ‘Digital Gold’
• SC asks Essar to pay Rs 1038.27 cr to Gujarat govt
• Reliance Infratel approves Brookfield merger
• India to launch new IIP series with 2011-12 base year on May 9
• MP first to switch to Jan-Dec fiscal year
• 23 ARCs snap up Rs 2.44 lakh cr bad loans from banks so far
• RInfra revises InvIT issue size downwards to Rs 2,500 crore
• Wipro unveils new brand identity, changes logo
• Bitcoin soars above $1,400 to all-time high
• Greece reaches preliminary deal with creditors: Greek finance minister
• India to clock 7.1% GDP this year, 7.5% in 2018: UN
• Benefits of economic reforms are reaching villages: Jaitley
• RBL Bank Q4 profit jumps 55% on income growth
• Infosys plans to hire 10,000 American workers in next two years
• Aadhaar data leak exposes cyber security flaws

• Tata Motors, Ashok Leyland rev up exports to Asian, African markets
• SoftBank takes Snapdeal closer to Flipkart sale but yet to seal terms
• Tata Power to acquire 118.2 million shares of Tata Teleservices
• Actis to invest $500 million in green energy platform Solenergi
• Bad bank not needed to solve India loan mess, says Arvind Panagariya
• CCEA nod on PDS sugar subsidy to AAY families likely today
• India cuts oil import plans from Iran by a quarter over gas field row
• Government to set up team for disposing tax issues pending before CBEC
• Government orders inspection of all fuel outlets in UP
• Reliance Growth Fund hits NAV of Rs1,000
• Debate over reforms dissipating as poor benefit: Jaitley
• Sugar production to decline 19% in 2016-17
• FPIs may intensify selling this month
• Sudan refuses to extend ONGC Videsh licence
• Affordable housing pushes growth in HFCs