Morning Business News Round Up_ Nov 22, 2018

  • Yes Bank into damage control mode, to meet on Dec 13
  • Foxconn aims to cut $2.9bn from expenses in 2019
  • Birla flags concerns on high spectrum payment to govt
  • Ramdev’s Patanjali is losing the race to lead India’s FMCG
  • Mobile component makers to invest up to $2-bln by Mar
  • IDBI Bank hopes to be back in black by first quarter
  • Panel proposals will help solve issues: Power Secy
  • NCLT could lose power to approve M&As in reform move
  • US court rules in favour of Dr Reddy’s, allows sale of generic Suboxone
  • India poised to topple Brazil as the world’s biggest sugar producer
  • IRDAI gives in-principle approval for IndiaFirst Life Insurance stake sale
  • FPIs pull out $900 mn from Indian market on widening CAD in Sept quarter
  • Crisil downgrades passenger vehicles’ sales forecast to 7-9% for FY19
  • Reliance Jio to be service provider for Railways from Jan 1
  • WGC, MMTC-PAMP set up gold assaying institute
  • Chinese market brightens prospects for mustard
  • Revenue shortfall may put pressure on the fisc
  • ONGC gas production at all-time high of 70 mmscmd
  • Vodafone Idea plans to invest Rs 27,000 crore in FY20
  • EU unveils policy paper on boosting ties with India
  • India liquidity crisis set to dent heavy truck sales
  • Bharat Gas, 2 others to invest ₹8,000 crore for CGD in Maharashtra
  • Global growth to slow to 3.5% in 2019: OECD
  • Shapoorji Pallonji Group plans $1 billion share sale of solar unit
  • CGTMSE tweaks norms to improve credit guarantee process
  • Farm loan waivers lead to fewer crop insurance policies
  • Digital lending to MSMEs to grow up to $100 billion annually in 5 years
  • NET Telecom Secretary asks states to utilise Bharat Net infrastructure
  • UltraTech to incorporate Binani Cement as subsidiary
  • FinMin aims to rein in CAD at 2.2-2.3% with lower crude, higher rupee
  • Half of India’s ATMs may close down by Mar ‘19
  • Srei PAT at Rs 111 cr, Bhutoria new CEO

Today’s M & A Deals_Nov 22, 2018

M & A Deals :

  • SoftBank ropes in Norwest director to head India investments
  • Arali Ventures marks first close of debut seed fund
  • Kotak gears up to float a bunch of PE, VC funds to double assets
  • Investcorp floats biz to buy stakes in mid-size alternative asset managers
  • Quikr trims cash burn but losses still exceed revenues in FY18
  • MobiKwik adds insurance to its portfolio of digital financial offerings
  • Indian OTT market to grow 10 times to $5 bn by 2023: BCG