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Morning Business News :
- Banks recover Rs 40,400 crore from defaulters: RBI
- Reliance, BP get key ship on KG-D6 for gas output
- Make enough financial allocations for farmers: Par Panel
- Provision coverage ratio of PSU banks on the rise
- 26 firms evince interest in special audit of telcos
- Sebi plans to strengthen market surveillance system, data warehouse tool
- Govt working on bringing untaxed sectors under tax net: Revenue Secy
- Rs 3-trn NPA risk averted by completing highway projects in 2018: Gadkari
- Jet Airways in talks with SBI for Rs 15 billion short-term loan: Report
- Cipla recalls 4,800 bottles of anti-HIV tablets from American market
- MSTC mulls 10% fresh equity issue after govt plan to dilute 25% stake
- India’s robust GDP growth to continue in 2019, says CII report
- NTPC to set up 50-MW LNG project in Andaman
- Committee to monitor DFI implementation soon
- Govt seen going full throttle on labour reforms in 2019
- Air India, Jet Airways see dip in domestic market share
- Emerging markets seen bringing more pain to investors in 2019
- Theresa May sets mid-January date for Brexit vote
- Sebi expands OFS framework to all firms with Rs1,000 crore and above m-cap
- RBI extends enhanced single borrower limit facility till March
- RBI exploring mobile phone-based solution to help visually impaired identify banknotes
- Niti Aayog’s new year focus: Pushing growth, implementation of govt’s reform measures
- Petrol price cut to its lowest level in 2018, diesel rates at 9-month low
- Govt proposes to invest Rs 1,227 cr through EDF
- New NHAI norms may slow down project awards
- Debt Waiver May Slow State Capex Growth
- Re-audit of telcos’ books to begin in jan
- Huawei faces new setbacks in Europe’s telecom market
- Tata Motors assures UK PM May of JLR commitment
- China mulls new foreign investment law
- GST to consider 5% GST on under-construction homes
- Govt moots Rs 7,400 crore soft loan to sugar mills
- ONGC board thinks not the right time to list OVL
- Himachal Futuristic Communications wins L&T contract
- Increase e-Visa validity to 10 years to boost tourism: NITI Aayog
- FinMin’s Alternative Mechanism gives nod for BoB, Dena, Vijaya Bank merger
- Shriram Transport to M&M Finance, volume dip deflates vehicle financiers
- IFC to back Lighthouse’s SPV to acquire stake in footwear firm Aqualite Ind
- MNC drug majors outshine Indian peers, draw investors’ attention
- GST Council’s announcements bring comfort: Industry bodies
- Maruti scouting for land in Haryana only to shift Gurgaon plant
- IT Alliance Australia plans to bring ₹600 cr FDI in 7 years
- NCLAT stays insolvency proceedings against Eastern Coalfields
- 10 Indian startups selected for Google News Initiative funding
- India Inc raises Rs 6 trillion from equity, debt markets in 2018
- Avoid cap on remuneration of independent directors: CII to govt
- Partial US government shutdown set to last through Christmas
- Pass on GST rate cuts or face withdrawal of benefits: Jaitley to businesses
- Petroleum products should be under GST, says Industry body
- Oil market likely to rebalance early 2019: OPEC ministers
- NMDC moved HC after exhausting all options in Karnataka: CMD Hyderabad
- Need to open up India’s dredging market to boost ports trade: NITI
- Public credit registry to become reality soon
- FPIs infuse Rs 1,332 crore in equity in three weeks
- MCA wing speeds up fraud detection
- SBI may raise Rs 12,000 cr overseas for PFC’s REC buy
- Farmers get $9bn loan relief ahead of elections
- Bank credit grows by 15.07%, deposits by 9.66%
- PSBs recover $8.69 bn of bad loans in April-Sept
- RBI limits total outstanding ECBs to 6.5% of GDP
- IL&FS to sell stake in education, wealth mgmt arms
- Govt to put draft ecomm policy up for consultation
- PowerGrid gets shareholders’ nod to raise FPI shareholding limit to 35%
- ONGC board approves Rs 40 billion buyback at Rs 159 apiece; shares end flat
- Govt wants Rs 100 bn interim dividend from RBI for fiscal deficit target
- Defaults on credit cards, loan against properties on the rise, says CIBIL
- Sterlite likely to restart Tamil Nadu’s Thoothukudi unit in two months
- NITI Aayog’s recommendation on agri sector tough to implement: Experts
- NCLAT reserves order on Bhushan Power and Steel
- ‘RBI must release a vision document for UCBs to thrive’
- CBDT to tighten monitoring of donations to trusts
- Steel companies staying off Karnataka’s ‘overpriced’ ore
- Gold, jewellery exports to post up to 5% growth this year
- Govt announces tax relief to startups
- Airtel sets up special panel to explore fundraising options
- RCom urges DoT to grant approval for spectrum deal
- Swiggy raises $1 billion in largest funding round till date
- Canara Bank to raise up to ₹3,000 crore via Basel-III compliant bonds
- RBI Governor Shaktikanta Das to meet private sector lenders next week
- Bank of India eyes Rs 1200-cr from exiting life insurance arm Star Union
- India’s crude steel output falls by 1.3 pct in November
- Government taking steps to implement methanol economy
- Tata Motors, Zoomcar join hands for self-drive EV rentals in Pune
- Rupee rallies 69 paise, settles below 70-mark
- BSNL to raise Rs 12,000 crore from PSBs for network upkeep
- Brokers question 100% penalty on ‘bogus’ dealings
- Energy subsidies decline by 36% to Rs 1.51 lakh crore
- 3 banks’ merger unlikely before 1st quarter of FY20
- Govt to seek interim dividend from RBI: Subhash Garg
- RIL seeks clarification on DoT rejection of Rcom deal
- Maruti may stop producing BS-IV models by Dec 2019
- Shell to acquire 49% stake in Cleantech Solar
- Additional capital infusion likely in PSU banks: Garg
- India, Iran find a way to get around US curbs
- High cost of banking services hindering financial inclusion: NITI
- IDFC First to hinge on branch expansion, ‘retailization’ and integration
- Parliament panel questions approval for RIL’s gas fields in KG-D6
- Sliding oil prices, RBI’s open market operations buy propel Rupee, bond
- Madras HC stays I-T demand notices on Aircel, Dishnet Wireless
- GST on financial inclusion services by BCs likely to come under review
- Loan waiver won’t root out farm distress, says NITI Aayog chief
- CBI arrests eight officials of PNB in fraudulent LoU case
- Glenmark forays into branded dermatology segment in US
- Vivriti Capital secures ₹200 cr from Creation Investments
- Market slowdown prompts Maruti to trim sales forecast
- RBI’s monetary policy committee cautious on inflation: Minutes
- GSK to split after folding in Pfizer consumer unit
- DGCA monitoring Jet Airways’ financial health, safety issues
- Canara Bank to raise up to ₹3,000 crore via Basel-III compliant bonds
- Oil prices near 15-month low on signs of surplus and economic concerns
- India to become fifth-biggest economy in 2019, says study
- Tata Motors liable to pay tax for possession of chassis, says SC
- Vijay Mallya intends to appeal against UK court’s extradition verdict
- Increase India’s share in international tourist arrivals to 3 pc by 2023: NITI Aayog
- British government to activate full ‘no-deal’ Brexit preparations
- Srei to take the NCD route to raise Rs 300 crore
- 25% dip in rabi sowing worrisome: Crisil
- Staggered payments can reduce fiscal stress of states waiving farm loan
- Fivefold rise in public grievances in 2014-2017, says govt
M & A Deals :
- ChrysCapital targets large corpus as it floats eighth sector-agnostic fund
- Samana Global to float $560 mn alternative investment fund
- PE firm AR2 Global expands India exposure with co-investment
- Greater Pacific, KKR’s debt fund bet $40 mn on utility consultancy firm
- Dewan Housing to sell stake in mutual fund business to JV partner
- DataTrained gets $1.7 mn in extended seed round; ImpactGuru pockets fresh funds
- Motilal Oswal PE-InvAscent consortium buys out Actis from Symbiotec
- Accel, IFC and others invest in B2B marketplace Moglix’s Series C round
- Carlyle eyes stake in SBI Life; Banks, Rakesh Jhunjhunwala bid for IL&FS Securities
- Huawei plans $2 bn investment to allay cybersecurity fears
- LIC makes open offer to acquire 26% stake in IDBI Bank
- RBI to infuse Rs 50,000 crore in January, bonds likely to rally
- NSE gets Sebi’s nod to launch weekly options on Nifty 50 index
- IDFC, Capital First completes merger process to form IDFC First Bank
- India’s sugar production up 2.1% till December 15: ISMA
- MOPE and InvAscent buy 70% in Symbiotec for $100 m
- Almost 45% of seller base from tier-II, III cities: Flipkart
- India imports 42 lakh tonne of urea till November for over USD 1 billion
- Saudi Arabia, Reliance in talks for refinery, petrochemical project: Saudi Oil Minister
- Premium brands pitch easy finance and instalments over superior features
- Bank notes’ printing cost rose to Rs 80 billion in FY17, says govt
- BNP Paribas sets 2019 Sensex target at 40,000, but stays wary on earnings
- Sebi concerned as Rs 600 bn worth of approved IPOs are yet to hit market
- Will try to get 99% items in 18% slab or lower, says PM Narendra Modi
- New angel tax notices spook investors, start-ups; trip fund-raising efforts
- High growth rate in manufacturing a doable challenge, says NITI Aayog CEO
- CSR funds worth Rs 8,314 cr remained unspent over three financial years
- Govt likely to sell 3-5% stake in NTPC via OFS
- IBC eliminates right to redemption of Essar Steel shareholders, says lenders
- Tata Starbucks to open more than 25 stores across metros in 2019
- Ashoka Buildcon plans to bid for Rs 400-crore city gas distribution projects
- John Deere plans to boost engine capacity in India
- Existing tech inadequate to cater to data demand by 2025, says report
- Government permits imports of PUF panels/doors for hospitals under EPCG scheme
- Ola to invest $100 million in scooter-sharing firm Vogo
- Samana to raise Rs 4,000 crore to invest in startups, listed stocks
- Govt orders restructuring of tax department
- Carlyle seeks to double holding in PNB Housing Finance
- DHFL to exit mutual fund business DHFL Pramerica
- Agri-food startups raised $1.6 billion in 2013-17: Report
- Online medicine startups in funding frenzy as sector consolidates
- Tata Motors-owned JLR likely to cut jobs in 2019
- Mallya faces bankruptcy proceedings in UK High Court
- Sebi lays down more robust risk management framework for equity derivatives
- IOC has enough headroom to absorb buyback, dividend payout: Fitch
- Ecomm policy review may focus on discounts: Prabhu
- Free pharma samples come under GST lens
- Wadia case: Court issues notices to Tata, others
- Government meddling in RBI affairs may hit Indian banking system: S&P
- Govt confident of crossing disinvestment target, hopes to garner Rs 850 bn
- Cabinet moves to get legal backing, allow Aadhaar for phone numbers, banks
- Debt-laden Essar Steel invokes right to redeem as a shareholder
- DoT plans to be ready for 5G spectrum auction by August next year
- FSSAI to notify packaging norms soon
- Organic food show to attract global retail chains, companies
- Export growth to surge 7% in Q3: Exim Bank
- IL&FS looking to sell road projects to pare debt
- SEBI makes investing in MFs less pricey
- D P World challenges CCI order to probe alleged anti-trust practices at JNPT
- Govt tussle with RBI could undermine long-term financial stability, says S&P
- ABB sells power grids to Hitachi in $11 billion deal
- Bank of Baroda to shut three overseas branches by June
- IHH holds Fortis open offer after SC status quo on deal
- StanChart sells PE portfolio for $1 bn to Intermediate’s arm
- Quikr acquires real-estate platform India Property
- Government total liabilities rose to Rs 82.03 lakh crore in September quarter
- Raghuram Rajan says transfer of excess reserve may pull down credit rating of RBI
- Max India promoters decide not to convert warrants into shares
- Kirloskar family dispute escalates as three brothers trade charges
- IL&FS revival bid exposes more holes, alleged frauds
- DeMo dragged economic growth down, says Rajan
- NHAI may fall short of FY19 target by 37%
- Foreign flows to remain muted in 2019: Credit Suisse
- Trump asks Fed not to raise rates on eve of policy meeting
- CIC orders disclosure of data on note printing post-demonetisation
M & A Deals :
- Kotak Realty Fund sets up single LP account for first affordable housing vehicle
- Venture Catalysts invests in environmental intelligence startup Ambee
- Matrix Partners invests more money in online services marketplace Housejoy
- Delhi High Court ban on e-pharmacies puts $300 mn of VC money at risk
- CPPIB scouts for strategic partners in NBFC space; eyes more education bets
- Sensex finishes in the green as Infosys, financial stocks lead gains
- True North may buy out Max India from insurance biz; Haldiram, others circle Maiyas
- Environmental intelligence startup Ambee gets angel investment
M & A Deals :
- Tata group’s mutual fund arm is setting up a PE vertical
- Lighthouse adds CDC as LP for latest fund, targets final close in four months
- IPE Global-backed investment firm to launch debut impact fund
- Neev Fund-backed Blue Planet buys organic waste processing firm Yasasu EMS
- Cognizant acquires content firm Mustache to mark sixth buyout of 2018
- India’s retail inflation at 17-month low in Nov; industrial output up 8.1% in Oct
- Swift change of guard at RBI helps Sensex soar nearly 2% higher
- Norms tweaked for listing Indian startups on stock exchanges
- Flipkart’s wholesale arm gets $304 mn in fresh capital from parent
- Shaktikanta Das takes charge as 25th RBI Governor
- Inflation cools, IIP up in twin treat for economy
- Industrial output growth fastest in 11 mnths at 8.1%
- UK’s May plans to quit before 2022 election: MPs
- GST evasion worth Rs 12,000 cr detected
- India’s air connectivity grew fastest in five years: IATA
- Rajan tells how India can be a $5-tn economy
- RBI board meet on Dec 14 to focus on liquidity in financial system
- Patel’s resignation highlights risks to RBI’s policy priorities: Fitch
- Sebi allows segregation of distressed assets by MFs
- Sebi allows MFs’ entry into commodity derivatives market
- JSW Steel’s crude steel output surges 2% to 1.39 MT during November
- Ashok Leyland, Israel’s Elbit Systems sign MoU for high mobility vehicles
- Real Effective Exchange Rate rises to 112.41 in Nov; experts say rupee still overvalued
- Adani becomes first generator to get PPA amended for imported coal-based plants
- ‘Govt agencies must be proactive for agri-export growth’
- India rejects EU’s suggestion not to re-test imported steel
- Ambuja Cement announces₹960-crore capex plans
- SREI Equipment Finance eyes pacts for lease, acquisitions
- Brazil approves WTO action over Indian sugar subsidies
- Sebi examining whistleblower complaint against Sun Pharma: Ajay Tyagi
- Truecaller Pay to enter credit business early next year
- NinjaCart raises $35 million from Accel, Syngeta Ventures
- China to plan revised technology program: Report
- Faulty hip implants: J&J says looking for speedy resolution
- Sebi expands OFS framework to all companies with market-cap of Rs 1,000 crore and above
- Ease of doing business: DIPP to help states in ranking districts
- China, US begin talks to sort out trade differences
- Government may keep FY19 bank recap target at Rs 65,000 crore: Icra
- Dip in RBI reserves to up India’s risk premium
- India needs good oil hedging policy, says Rajan
- Bharat 22 ETF, OFSs may help govt meet selloff goal
- Irdai delinks personal accident cover from 3rd party motor insurance
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