Morning Business News Round Up_March 27, 2018

PNB plans vertical to recover stressed assets

Rs 8,297cr demand notices slapped on Coal India firm

Land degradation may affect 3.2 billion people globally

Telcos revenue, license fee shrank in FYQ3: TRAI

Image result for India-EUIndia-EU FTA negotiations likely to resume soon

JSW Steel to invest $500 million in Texas unit

Centre asked to consider BS-VI fuel from April 2019

Economy to double to $5 trn by 2025; no risk to inflation target: SC Garg

Essar Steel insolvency: ArcelorMittal drags bankers’ rejection to NCLT

Govt plans to borrow Rs 2.88 trn in H1FY19; to issue inflation indexed bonds linked to CPI

Unlisted PSUs buy back Rs 26 bn stocks to help meet disinvestment goal

NMDC declares interim dividend of 430%; shareholders pocket Rs 13.60 bn

ASICS looking to double topline growth in India

RBI to keep policy rates on hold, maintain neutral stance: Report

China promises to address trade deficit issue with India

Dr Reddy’s launches generic version of therapeutic injection

Maruti’s new Swift clocks over 1 lakh bookings in 10 weeks

KEC International wins contracts worth Rs 2,419 cr

ICICI Securities IPO size cut to Rs3,520 crore, sees 78% subscription

Tata Power sell Tata Comm shares to parent for Rs2,150 cr

Govt plans ban on sale of fairness creams containing steroids

Bank privatisation not answer, empower bank boards: Industry

Small savings interest rates may not go up in April-June

Axis Bank’s rating unaffected by not honouring guarantee, says Fitch Ratings

Government to borrow Rs 2.88 lakh crore in first half of FY19; announces short-term securities

Reliance Jio is top innovator brand in India, Google leads global list

Lakshmi Mittal’s ArcelorMittal moves court against Essar Steel bid rejection

Oil import bill may jump by 25% in FY18

150,000 primary health centres to be turned into wellness units

EU starts safeguard probe into some steel products, India worried

India’s biggest challenge is to get more & more people to pay income tax: CEA

BSNL eyes 13% market share; slams DPE for clubbing it with MTNL, AI

Morning Business News Round Up_March 23, 2018

CAD may treble to $10-12 billion in Q4: Icra

Image result for M&AM&A deal volume at 7-year high in 2017: EY

PNB issued over 41k LoUs since 2011: FinMin

PSU bets give LIC a Rs 20,000 crore headache

PNB fraud: Interpol seeks additional info from ED

Tax-free gratuity limit doubles to Rs 20 lakh

Reliance Retail plans to raise Rs 4k cr via rights issue

Trump to hold off steel tariffs for EU, six others: US trade envoy

Confident about expeditious completion of asset sale plan: RCom

Cox & Kings sells 11.58% stake in education and hotels arm for Rs 4.5 bn

SC refuses to lift stay on RCom asset sale to Reliance Jio

Indian Oil considers investing $3.5 bn from April to expand capacity

Capital gains from buyback gold rush on taxman’s radar

Deadline for bidding oil and gas blocks extended to May 2

Shortage of coal continues to hit power generation

Merger of Dish TV India, Videocon d2h completed

Panel of creditors urges NCLT to consider Dalmia Bharat’s bid for Binani Cement

Hero MotoCorp hikes stake in Colombian jt venture to 68%

Last date of bidding for 55 oil and gas blocks extended

Standard Chartered is said to start sale process for private equity unit

After PNB, SBI, now Union Bank of India hit by bank fraud

ICICI Securities IPO sees 29% subscription on Day 1

IRB Infrastructure bags Rs3,400-crore road project from NHAI in UP

Kumar Mangalam Birla to lead Vodafone-Idea combine’s leadership team

Proprietors, LLPs, HUFs under CBEC scanner for claiming transitional credit

Government extends duty benefit for export of Bengal gram

Insolvency law panel likely to finalise report this month

Over a third of economists push back timing of Bank of Japan stimulus exit

MCX to start brass futures trading next week

NCLT cracks down on DSK Developers

Gas price to be hiked, power, urea output cost to rise

RBI to pay Rs 10,000cr dividend

Sebi mulls halting trade in companies referred to NCLT

Morning Business News Round Up_March 22, 2018

PNB pegs FY18 fraud loss at Rs 14,500 crore

Spending talks nearly done, $1.3T bill to be unveiled

Complaint against jeweller Kanishk for Rs 825-cr fraud

NuMetal moves NCLT to stay eligible for Essar Steel

NHPS gets cabinet nod, scheme portable across country

Mohandas Pai says 60% of Indian startups will fail

Need to connect all banks with mobile banking: Report

Lenders reject bids by Numetal, ArcelorMittal for Essar Steel

PNB blames concurrent auditor for not flagging off SWIFT transactions

Abbott India gets aggressive on new product launches, plans 110 in 5 years

Related imageAt $768 bn, Amazon is second most valuable US-listed company; tops

US slaps anti-dumping duty on steel wire imported from India, China

China allows foreigners to enter $27 trn payments market

US slaps anti-dumping duty on Chinese, Indian steel flanges

Indian firms most concerned about rising protectionism: Report

Five mines of NMDC receive 5 Star Rating

Shortage of coal continues to hit power generation

Tata Group, DP World discuss cooperation

Sun Pharma gets USFDA nod for plaque psoriasis drug

Lenders restart Essar Steel auction, after rejecting Numetal, ArcelorMittal bids

Coal India to set up plants for coal gasification

RCom gets bondholders’ approval for asset monetization plan

Sebi mulls overhaul of algo-trading norms

Bayer clears EU hurdle for Monsanto deal with BASF sale

S&P’s boost for Modi, says banking sector could witness turnaround in FY20

Draft policy seeks stable regime for agriculture exports

Supreme Court directs JP Associates to deposit Rs 200 crore by May 10

Mutual fund NAVs are eroding for equity and debt

Rupee pushed down by global monetary uncertainty & high CAD

Force Motors, Rolls-Royce Power Systems ink Rs 300cr JV

LVMH adds $5,200 Hublot to roster of priciest smartwatches

Morning Business News Round Up_March 21, 2018

India, US to bilaterally discuss steel import curbs

Fixed-term employment extended to all sectors to boost ease of biz

Goldman slashes India growth forecast on PNB fraud

‘Resolution plan for Binani Cement submitted to NCLT’

WTO members concerned over US import duty hike

Next wave of NPAs will come from SMEs: Kotak

Essar Oil picks Trafigura, BP for $1 bn oil-backed loan

Nirav Modi firms in Surat SEZ diverted duty-free diamonds: DRI

L&T, Reliance bid for Yogi’s flagship Rs 190 bn infra project

Govt to meet primary dealers to discuss Rs 6.06-trn bond sale plan: Report

Image result for ICICI BankICICI Bank raises Rs 40 billion via bonds, money to be used to fund growth

EESL acquires UK-based power generator Edina for 55 million euros

Videocon exits insurance biz; sells stake to DP Jindal Grp, Enam Securities

India scraps sugar export tax to boost exports, cut inventory

Tata Motors to hike passenger vehicle prices by up to Rs 60K from April 1

Informal WTO ministerial meeting begins with 52 nations

Bata hopes India to be largest market in terms of turnover

Force Motors joins hands with Rolls-Royce Power Systems

Private fuel retailers market share rises in three years

PNB fraud: Mehul Choksi refuses to join CBI probe again

Biocon sees approvals unlocking $1 billion biosimilar sales

Sterlite Power acquires Rs1,500 crore Goa-Tamnar project

Hindustan Aeronautics IPO subscribed 99% on final day

Stringent norms, extended lull seen weighing on realty sector

Sebi may tell exchanges to raise fees for trading in illiquid stocks

Reforms unlikely till next general elections: Former RBI Governor Raghuram Rajan

Wheat production likely to hit 100 million tonnes target this year

Transitional Credit Under GST: Centre takes exclusive powers to verify claims

Need more financial education as financial inclusion improves, says panel

Trade deficit of $44 billion pushes up CAD

US plans heavy China tariff hit

New India launches global medical cover

US mulls new law to guard call centre jobs

MFIs increase checks and balances post-DeMo

Morning Business News Round Up_March 20, 2018

Sebi exempts govt from open offers for six PSBs

Manufacturing cos Q3 sales up, profit subdued: RBI

Videocon to exit insurance biz, sell entire stake

No FDI in defence, ports, coal in Apr-Dec: Govt

Bring model scheme for construction workers: SC

DoT increases spectrum cap, installments for payments

‘No new bank guarantee from Axis Bank to be accepted’

UltraTech to pay Rs 73 bn for 98% stake in Binani Cement, NCLT nod awaited

India has not signed any free trade agreement in last 3 yrs: Govt

RP places Rs 67-bn plan by Dalmia Bharat Cement for approval before NCLT

Manufacturing companies’ sales improve in Q3, profit subdued: RBI

IOCL to commission Rs 30 bn polypropylene facility in six months

UltraTech to buy Binani Cement, seeks end to insolvency proceedings

New FSSAI norms will curb organic farming growth?

L&T set to win EPC contract for new dry dock in Kochi

Centre invites EoI for stake sale in Scooters India

IRB Infra bags road project worth Rs 2,043 cr from NHAI in Gujarat

Suzlon bags 500 MW wind energy projects through SECI bids

Insider info: Sebi moves to plug WhatsApp leaks

Future Retail gets RBI nod to increase RFPI to 49%

Uttam Galva offers 51% of outstanding loan to avoid asset auction

Hindustan Aeronautics IPO subscribed 45% on Day 2

Supreme Court upholds sale of Park Hyatt Goa to ITC

RCom moves SC against Bombay HC, NCLT orders barring sale of assets

India, Hong Kong shake hands to avoid double taxation

India’s domestic air passenger traffic on the rise, up 24% in February

Bhel commissions Ist unit of Kishanganga hydro project in Jammu and Kashmir

Alibaba to invest extra $2 billion in Lazada Group in aggressive Southeast Asian expansion

Bandhan Bank IPO subscribed 14.63 times

ED moves HC against acquittal of Raja, Kanimozhi in 2G case

Lemon Tree Hotels sets price band at Rs 54-Rs 56

CBI charge sheet against ex-CMD of Canara Bank CMD in Rs 68 cr loan case

Suzlon to build TWO wind projects in Gujarat

Morning Business News Round Up_March 19, 2018

DP World and NIIF to buy Continental Warehousing

Madras HC gives relief to Vodafone in Trai tariff case

RCom moves Supreme Court for asset sale relief

Demonetised notes are being shredded, briquetted: RBI

‘Counterfeit market in India worth over Rs 40,000 cr’

PNB drags Hunung Toys to bankruptcy courts

Power producers’ body blames RBI of NPA overreach

NBCC enters road construction; gets Rs 20-bn contract in Uttarakhand

Image result for GAILIOC, BPCL may buy 26% stake each in GAIL at more than Rs 400 billion

WTO ministerial meet in Delhi: 50 nations to take up global trade issues

FPIs pour Rs 64 bn in equities on easing oil prices, earnings expectations

Anti-dumping duty imposed on Ofloxacin imports from China

Steel prices may firm up by 6-10%, bridge the discount

Nitol-Niloy Group invites Tata Motors to set up unit in Bangladesh

Danfoss aims to grow by 20-22% for next 3-5 years’

CCI nod for Brenntag-Raj Petro deal

Trai to revamp mobile number portability process

Only 16% of initial GST returns filed for July-Dec match with final figures

UltraTech Cement challenges Binani Cement sale to Dalmia Bharat

Abu Dhabi signs $1.45 billion offshore deal with French oil giant Total

India cannot retaliate in global trade war:Assocham

PwC suggests timebound dispute resolution under GST

Tax assessment of RIL: CAG raps I-T department for lack of due diligence

High GST threatening aluminium recycling units: Industry

No takers for Rs 11,300 cr lying in 64 bank vaults

Govt decision has jute industry in quandary

PNB fraud has created a pall of uncertainty over PSB stocks

Morning Business News Round Up_March 16, 2018

Govt for PSBs’ stability first, consolidation later

Jio adjusted gross revenue up 21.3% at Rs 5,300 cr

India to engage with US on export subsidies

Trai issues notice to Airtel for violating order

‘India offers Rs 1L-cr biz in bio-fuel, bio-energy’

Feb trade deficit at $12 billion, exports grow 4.5%

Govt plans to bar 91 defaulters from leaving India

GIC Re to start London operations next month

Merger with associate banks led to higher account closure this year: SBI

Govt not to extend March 31 deadline for selling pre-GST packaged goods

LS passes bill to enable govt to double tax-free gratuity to Rs 2 mn

TN govt to focus on aerospace, defence sectors to get Rs 100 bn investment

ICICI Securities Rs 40-bn IPO to open on March 22; price band at Rs 519-520

India to approach USTR against steel, aluminium tariffs

Image result for Suzlon indiaSuzlon commissions 340 MW solar projects

M.P. begins wheat purchase atRs.2,000/quintal

Rosy Blue Group has not defaulted on any bank loan: Mehta

Calderys India Refractories eyeing 25% capacity expansion

Goa mining industry stares at uncertainty

GST one of the most complex, and second highest tax rate in world: World Bank

Air India made Rs543.03 cr from asset monetisation: Govt

Infosys to open technology and innovation hub in Connecticut, US

Fortis Healthcare suitors look to buy shares from public, banks

Air India sale: Singapore Airlines has open mind on making a bid

Shipping ministry for bringing MTOs under self-regulation

PF: PPF accounts to remain immune from attachment

CREDAI seeks cut in GST; bank financing to buy land for low-cost home

CBI arrests RP Info System directors in Rs 515 cr bank fraud

PSBs to link SWIFT with Core Banking Solution by April 30

Currency derivative trade limit raised to $100m from $15m

CBEC field offices observe GST refund fortnight for exporters

More 4G spectrum for BSNL, revival plan for MTNL: Sinha

Trade deficit narrows to $12 billion in Feb

Banks to establish robust risk management system soon

Morning Business News Round Up_March 15, 2018

Morning Business News :

  • World Bank projects India’s FY19 GDP growth at 7.3%
  • SBI may challenge order against taking over assets
  • Currency in circulation back to pre-demonetisation level
  • LTCG relief for investors of unlisted cos as govt extends indexation benefit
  • Indian realty sector market to reach $180 billion
  • Saudi turns to nuclear power to curb oil addiction
  • Decoding Videocon’s move on Philips, Electrolux
  • PNB fraud: RBI guv Urjit Patel blames regulatory constraints for scam
  • WB to raise lending to India by $1 bn for next five years
  • Strides Shasun gets US FDA approval for HIV treatment drug Efavirenz
  • Torrent may raise Rs 15 bn via QIP as it readies to bid for Sanofi assets
  • Revise GST, impose anti-dumping duty to boost textile sector: Parl panel
  • Bandhan Bank aims to keep gross NPA below 1%

Image result for Bandhan Bank

  • Cabinet approves India, Iran double taxation pact
  • Wholesale price inflation eases to 2.48% in Feb
  • Ban on LoUs to have disruptive impact: India Inc
  • Suzlon installs India’s largest wind turbine generator
  • Calderys India Refractories eyeing 25% capacity expansion
  • L&T wins contracts worth₹1,600 crore
  • BoI hits pay dirt on recoveries, helps lift sentiment for public sector peers
  • Yes Bank acquires 17.31% stake in Fortis Healthcare
  • Bharat Dynamics IPO sees 46% subscription on Day 2
  • UltraTech Cement hikes bid for Binani Cement to $1 billion
  • PNB fraud: ED seeks Interpol warrant against Nirav Modi, Mehul Choksi
  • Sensex, Nifty end in red as blue-chip shares plunge, PSU banks rise up to 14%; OMCs tumble
  • Bharti Airtel approves allotment of debentures to raise Rs 3,000 cr
  • 67% Indian businesses hit by ransomware, 38% twice: Sophos
  • Aviation ministry eyes 5-fold rise in passenger trips to 1 bn in 15-20 years: Jayant Sinha
  • Clean-up act: Banks may give PNB short-term loans
  • Wipro to divest hosted data centre services biz to Ensono for $405m
  • RBI Guv calls for more powers to regulate state-owned lenders

Morning Business News Round Up_March 14, 2018

Morning Business News :

  • RBI scraps LoUs, the tool that set off India’s biggest banking scam
  • Raghuram Rajan defends 80:20 gold scheme
  • Tata Sons sells shares worth nearly Rs 9,000 cr in TCS
  • Bhushan Steel’s insolvency resolution put on hold
  • SBI closes 41L SB accounts for not keeping min balance
  • Nirav case: Total fraud amount rises to Rs 13,600 cr
  • Showcause notices issued to telcos on call drops: TRAI
  • SC extends deadline for linking Aadhaar to phones, bank accounts

Image result for SC extends deadline for linking Aadhaar to phones, bank accounts

  • States issued Rs 283.98 bn as GST compensation till Dec: Arun Jaitley
  • PNB discloses Rs 9.42 bn additional exposure in Nirav Modi, Choksi fraud
  • Govt to sell 10% stake in HAL through Rs 42.30 billion IPO
  • BPCL to participate in insolvency process for Nagarjuna Oil corp
  • Banks agree to govt terms for Rs 800-billion recapitalisation bonds
  • MCX set to launch world’s first brass futures contract
  • Near-term correction likely in NCDEX refined soya oil
  • July-Dec 2017 saw surge in MSMEs seeking credit for first time
  • Suzlon installs India’s largest wind turbine generator
  • Zydus Cadila gets USFDA nod for Tizanidine tablets
  • HDFC to pare over 4% stake in AMC arm through IPO
  • Gail India buys 2 LNG cargoes for April delivery-traders
  • HDFC Bank blocks all its cards to buy, trade cryptocurrencies
  • RCom says to appeal NCLT order against Reliance Infratel asset sale
  • Bharat Dynamics IPO sees 32% subscription on Day 1
  • Over 9,000 cases under consideration of NCLT, including over 2500 cases of insolvency, says government
  • India to become collateral damage in Trump’s trade war on steel, aluminium
  • IBC: Government says no reduction in resolution plan submissions post Ordinance
  • China accounts for 66 pct of India’s bulk drug imports in FY’17
  • Karnataka allots 43 acres to Wistron for Apple’s iPhone unit
  • SBI retains minimum balance limit, but cuts penalty charges by 75%
  • Eicher ends Polaris JV, Multix dumped
  • Suzlon to set up 36 wind units for Maharashtra utility
  • Small cars have higher insurance loss ratio than SUVs

Morning Business News Round Up_March 12, 2018

Morning Business News :

  • US, China keen to join International Solar Alliance
  • Jet Airways, Air France, others to bid for Air India
  • Disney’s ‘Black Panther’ reaches $1 billion globally
  • India should drag US in WTO over tariff hike: Experts
  • Govt to get around Rs 8,044 cr dividend from Coal India
  • SBI tightens noose around borrowers in jewellery sector
  • PFC’s power projects with 14,000 Mw capacity to go down insolvency alley
  • SBI, UCO Bank looking for buyers to clear off Rs 12.45-billion NPAs
  • PM Modi calls for concessional, less-risky financing for solar projects
  • ‘Powerful’ UP govt is top defaulter with Rs 100-bn power dues
  • Need $1 trn to achieve 1 TW solar power capacity by 2030: Emmanuel Macron
  • Govt to invest Rs 50 bn in Food Corporation of India in 2 years: Parl panel
  • India on its way recovering from demonetisation disruptions: IMF
  • GST Council meet: E-way bill from April, easier returns delayed

Image result for GST

  • India can stand tall in a trade war: Anand Mahindra
  • NTPC to acquire Kanti, Nabinagar JV plants for Rs 3,000 cr
  • As Chinese imports decline, domestic refractory makers eye larger market
  • Women make up just 22% of S&P 500 boards: Report
  • Neuberg Diagnostics to invest ₹300 cr for expansion
  • Manufacturing outlook positive for January-March quarter: Ficci
  • EON to acquire RWE’s Innogy, upending German energy industry
  • India, China key engines of global economic growth: IMF’s Tao Zhang
  • CCI clears RCom’s plans to sell infra assets to Reliance Jio
  • India, China important engines of regional and global economic growth: IMF
  • European Union says no ‘immediate’ clarity from US on trade tariffs
  • Coca-Cola plans to localise two-third of its products portfolio in India
  • High production to keep prices under pressure
  • Rural, infra spaces may see momentum in next few quarters
  • Oil, fund flows, GST glitches key risks in 2018: Crisil
  • Inefficiencies in logistics cost India $95 billion
  • PMO calls officials’ meet on exporters’ GST refunds