Month: January 2019

Morning Business News :

• Govt to probe allegations against Dewan Housing
• Oilfield auction: Vedanta, ONGC, others put in bids
• India may again defer duty hike on US products till
• NCLT initiates insolvency process against Emaar MGF
• Postal dept to spin off life insurance biz into separate unit
• US Fed leaves rates steady, says will be ‘patient’ on future hikes
• Zydus Wellness completes acquisition of Heinz India
• Unemployment rate at four-decade high of 6.1% in 2017-18: NSSO survey
• ICICI Bank Q3 profit declines 3% to Rs 1,605 cr, GNPA ratio improves
• Govt arms DIPP with policy oversight to assume singular control over retail
• Trai asks DTH firms to allow customers with long-term packs to continue

• SBI Research report backs govt to meet fiscal deficit target this year
• Piyush Goyal to present interim Budget on Feb 1
• Govt renames DIPP as Department for Promotion of Industry and Internal Trade
• Divestment process for Air India subsidiary likely to begin in 10 days
• RTIL’s largest investor moves NCLAT
• JSW Energy net profit up by 212% at Rs 146 cr
• Bajaj Auto Q3 profit up 20% to Rs 1,220.77 cr
• Chanda Kochhar sacked after probe panel indictment
• Godrej Consumer’s household insecticides performance repels investors
• HCL Tech’s new IBM products will help generate 30% profit
• Investcorp acquires IDFC Alternatives’ private equity, realty arms
• IBC may go the way of Sarfaesi Act if cases are not resolved soon: Seshagiri Rao
• Indian Oil looking for annual deal to buy US oil
• Nudge by govt: Buyback spree by PSUs to begin with Coal India
• Essel set to sell solar business to Actis
• Stung by falling crude prices, IOC net falls 91 per cent to Rs 717 crore
• Jubilant Foodworks reports 46 per cent rise in Q3 net profit
• Bailout Planning: Jet Airways may turn to Adani Group for investment
• Govt may hold back Q4 fertiliser subsidy to meet fiscal deficit goal
• SC refuses to interfere in 63 Moons case, asks HC to conclude hearing in Feb
• PM credits demonetisation for affordable housing
• Accenture to sell software that eats up BPO jobs
• HDFC net falls to Rs 2,114 crore

Morning Business News :

• At $19.5 bn, Tata group is India’s most valuable brand
• Hero FinCorp leads race to buy Aadhar Housing from Wadhwan group for Rs 2700 crore
• US budget deficit set to hit $897 billion: Report
• FDI grew 18% in FY18 to Rs 28.25 lakh cr: RBI data
• Indian households’ debt doubles in FY17-18
• Sebi provides clarity on lock-in period for warrants
• RBI governor meets PSU banks’ CEOs, conveys regulator’s expectations
• India pips Japan as second-largest steel producer; China on top: Worldsteel
• Canara Bank Q3 net up over two-fold to Rs 317.5 cr as NPA provisioning dips
• Global IT spending to grow 3.2%, reach $3.76 trn in 2019: Gartner
• Jet Airways seeks shareholders’ nod to turn debt into equity, EGM on Feb 21

• Tata Steel part-exits S-E Asia business in $327-million deal
• India, China hold talks on providing market access to domestic products
• Sun TV to invest ₹300 crore in Bengali, Marathi channels
• Fuel costs, losses at Mundra plant drag Tata Power’s Q3 net
• Piramal Enterprises’ Q3 profit up 23% at ₹603 cr
• Escorts Q3 net profit up 52% to₹140 crore
• Reid & Taylor: NCLT refuses Kasliwals access to forensic audit copy
• Moody’s downgrades Lodha Developer’s rating on weak sales
• Govt formulating draft national scrap policy: Steel minister
• Vodafone Idea partners with Sun TV Network
• SC seeks Fortis response over transferring₹4,000 crore to RHT Health
• Siemens, Alstom make new EU concessions to save merger
• S&P Global enters China’s credit rating market amid trade war
• Godrej Properties posts Rs 42-cr net in Dec quarter
• Kotak Investment may team up with co-applicants for RP
• Ajay Piramal warns of more IL&FS type crises
• Goyal asks PSBs to step up lending to MSMEs, farmers
• Jindal Stainless seeks duty cuts on raw material imports
• BoI Q3 net loss widens to Rs 4,738 cr; NPA provisions jump two-fold
• Vedanta Resources to invest $1.6b in South Africa

Morning Business News :

• Zee claims to have reached understanding with lenders, MFs
• Essel group denies link with Nityank lnfrapower
• Govt enables PSUs to seek LOCs against defaulters
• Efforts on to double exports from $321 bn: Prabhu
• Piyush Goyal to meet heads of PSU banks on Monday
• Debt funds have over Rs 8,000 crore invested in Zee group firms
• Zee denies any link with Nityank Infra amid money laundering allegations
• Jio may join race to pick stake in Subhash Chandra’s Zee Entertainment

• Govt’s new proposal: Pay fine for full batch if one drug found substandard
• Tata Capital’s arm to raise up to Rs 3,000 crore through debentures
• TRAI hopeful of 90% customer in new tariff regime by Feb 1 deadline: Chief
• Coal India’s supply to power sector up 8% in Apr-Dec 2018
• Cabinet likely to approve agri-package for farmers on Monday
• Centre must allocate more funds to build roads under the EPC model
• Tax officials may examine high usage of ITC to set off GST liability
• No tax dues; will get Mindtree shares released: Coffee Day
• European Union reviewing concessions from Siemens and Alstom on rail deal
• Gold ETFs register ₹570 crore outflow in 2018
• Aurobindo recalls nearly 5 lakh bottles of blood pressure lowering drug in US
• Eni, OMV to pay $5.8 billion for Abu Dhabi refining stakes
• Donald Trump’s China tariffs likely to be investigated by the WTO
• Vedanta group “too big to have a family succession plan”, says Anil Agarwal
• Efforts on to double exports from USD 321 billion, says Suresh Prabhu
• PM Modi’s record debt sales before polls to pressure Indian bonds
• Two years of IBC: Near 52 pct of cases end in liquidation
• ‘India could be fastest growing among Ems
• US calls on world to ‘pick a side’ on Venezuela; Europeans set to recognise Guaido
• NCLT allows Guild Builders to top up shares of Omaxe
• Cotton output may fall to 335 lakh bales for 2018-19
• Vodafone Idea rights issue by February-end; smooth sailing seen

Morning Business News :

• Kocchar got Rs 64 cr bribe through her husband, reveals CBI
• SBI defers sale of Essar Steel loans to February 11
• Bharti Infratel settles tower exits for Rs 3,800 crore
• Piyush Goyal to meet heads of PSU banks on Monday
• PNB’s $45 million fraud claim dismissed by English court
• Tata Motors to bid adieu to Nano from April 2020
• LIC to set time-line for paring IDBI Bank stake: Irdai’s Sathe
• Ravneet Gill to take over from Rana Kapoor as YES Bank’s MD & CEO
• Etihad wants to end exclusivity for JetPrivilege as part of rescue deal
• Oil rises after US threat of sanctions on Venezuelan crude exports
• Steel industry’s capital expenditure to rise to Rs 75,000 cr, says study
• Haphazard spree of sell orders give Singapore traders a $41-billion fright
• Domestic crude output down 4.3% in December
• Sops for agriculture to top Govt’s priority list
• RPower net down 32.5% to ₹189 cr in December quarter
• Zee Media Corp reports Q3 profit of ₹ 27 cr
• Coal India reports 8% increase in supplies to power sector
• Wheat production may cross record 100 mt in 2018-19
• Adani Group may get controlling stake in Mundra LNG terminal
• ‘Under siege’, oil industry mulls raising returns and PR game
• JLR to halt production for a week in April due to Brexit
• Trai issues notice to Tata Sky over new tariff framework

• Supreme Court to hear Vedanta’s plea to reopen Sterlite plant on 29 January
• Global business leaders raise concerns over e-commerce policy changes in India
• US-China tariff war benefiting India; exports to dragon up 32 per cent at $ 8.46 billion
• UltraTech December quarter consolidated net falls 14% on higher fuel, input costs
• CBI files FIR against Kochhars, Dhoot over Videocon loan issue
• MSCI may reduce India weight in emerging market index
• M&A, PE deals cross $100b mark in 2018
• Irdai to pick systemically important insurers
• ArcelorMittal, Ruias’ ding-dong battle for Essar Steel continues

Morning Business News :

• TCS 3rd most-valued IT services brand globally: Report
• Govt to spend 6.5% more on food subsidies in FY 20
• Govt may relax sourcing norms for single-brand retailers
• SBI’s plan to sale Essar Steel loans face uncertainty
• Foreign firms can now open offices without RBI nod
• Voda Idea board clears Rs 25,000 cr rights issue
• Sebi provides clarity on norms for depository participants
• ITC posts net profit of Rs 3210 cr, the highest in last 17 qtr
• Sebi directs commodity exchanges to align trading and delivery lot sizes

• Secondary steel producers to play big role for 300 mn tonne industry
• India needs $80-bn investments in next 5 years for grid transmission infra
• Investment through P-notes rises to Rs 79,513 cr till December-end
• Adani, IOC top investors on Day-1 of Tamil Nadu Global Investors Meet
• Provide ease of doing business for small traders: CAIT
• Cabinet clears $400-m standby swap facility for SAARC nations
• NMPT targets 44 mt of cargo handling in 2018-19
• HAL to outsource ALH to domestic private sector company
• TN targets defence, aerospace investments of $10 billion
• Piyush Goyal given interim charge of finance till Arun Jaitley resumes
• United Spirits Q3 profit up 43% on demand for premium brand
• Sebi orders release of Alchemist Infra’s demat account
• India cuts coffee output estimate by 16% as heavy rains trim yield
• Moody’s upgrades IDBI Bank rating on improved solvency
• RCom posts loss of Rs 341 crore in December 2018 quarter
• India, China affecting world economy much more today: Angela Merkel
• India’s industrial activity likely to remain subdued in near term: Report
• India’s GDP growth may improve to 7.3% in FY20, says Crisil
• Bank of Maharashtra Q3 net loss widens 7-fold to Rs 3,764 crore
• Retail sector investments double to Rs 1,300 crore in 2018
• Brokerages hopeful of govt meeting FY19 disinvestment target
• SBI chief to seek open offer exemption for Etihad

Morning Business News :

• India to surpass China as oil demand centre in 2019
• NCLAT may look in issue of frivolous bids under CIRP
• Reliance Industries gets CCI nod to acquire Hathway, DEN
• Govt to approve power tariff policy soon: R K Singh
• 32 lakh jobs created in November: EPFO payroll data
• IL&FS effect: Icra downgrades 6 funds from HDFC, UTI, Birla AMC
• RBI announces Rs 10,000-cr bond buyback on Thursday to improve liquidity
• Six extensions later, govt cancels sole bid for solar unit, power plant
• Sebi issues new format for mutual funds’ monthly cumulative report
• Indian Oil to shut half of Panipat refinery from mid-Feb for maintenance
• HDFC Life reports 20% rise in net profit at Rs 913 cr in 9 months of FY19

• Move to allow NITI Aayog to steer drug-price control raises hackles
• Sourcing steel locally has ensured ₹8,000-cr savings: Minister
• India 4th most attractive investment market: PwC survey
• NMDC revives sponge iron unit in Telangana
• Reliance gets green signal for Jamnagar refinery expansion
• Sun Pharma replaces formulations distributor with own unit
• Government likely to target about ₹800 billion from divestment in FY 19/20
• India likely to overtake US in steel consumption in 2019: Steel minister
• Jaypee Infratech bankruptcy: Lenders may extend deadline to submit revival plan
• Aluminium, zinc edge up on signs of tighter China supply
• IL&FS crisis: Govt to seek special dispensation from Reserve Bank
• India’s 7% growth good, but not enough jobs getting created, says Raghuram Rajan
• Reliance Nippon Life Asset Q3 net profit drops 17 pc to Rs 109 crore
• Commerce Ministry seeks stakeholders’ views on report to revive SEZs
• Reliance Retail 94th among top 250 global retailers
• Sun Pharma shares up 5% after firm replaces domestic formulations distributor
• Instalment payment allowed for PA benefit-based health policy claims
• Advances, margin boost Kotak Bank net profit by 13.5%

Morning Business News :

• May need more currency as GDP size increasing: RBI
• L&T Infotech acquires Ruletronics for $7.48-mn
• RIL first pvt co to top Rs 10,000 cr profit mark
• IL&FS says unable to meet interest payment obligation
• HUL Q3 profit rises 9% YoY to Rs 1,444 crore
• Reliance faces Rs 1 crore fine over NGT row
• Icra expects auto parts industry to grow 15% this fiscal
• Naresh Goyal sets terms for Rs 700-cr infusion into debt-laden Jet Airways
• I-T dept holds back Rs 20,000 crore in tax refunds to private, PSU firms
• Adani partners Germany’s BASF for Rs 16,000-crore petrochem foray
• Edelweiss Financial Services ties up $1.3 billion to buy India debt assets
• 18 NBFC-MFIs pool Rs 835 cr for securitisation, easing liquidity crisis
• GDP to be a tad higher to 7.5% in FY20: India Ratings
• Car market in India continues to move in slow lane: report
• NSEL scam: Corporate Ministry allows SFIO to prosecute everyone involved
• GMR in talks with MAHB on Hyderabad airport stake sale
• Deep in debt, Rolta India goes into stand-by mode
• CCI imposes ₹85-lakh penalty on Godrej & Boyce
• Govt mulls deemed admission of companies under insolvency law
• NGT asks Volkswagen to pay penalty of Rs 100 cr in 24 hrs
• CII asks RBI to cut repo rate, cash reserve ratio
• Share buybacks fail to boost share prices, investor morale

• Hero Future in talks to buy Fotowatio’s solar project in India
• Naresh Goyal refuses to cede control of Jet Airways
• Need to focus on alternative fuels: Nitin Gadkari
• Aurobindo to buy 7 products from US firm in $300-million deal
• Daiichi moves SC to restrain Fortis from transferring funds from IHH
• PFC to borrow Rs 14,000 crore to fund REC buy
• SCCL plans Rs 10,000-crore capex, eyes new coal blocks, mines
• Telecom sector may stabilise soon post-consolidation: Trai chairman
• Singed Shalimar Paints plans mega come back
• Gujarat cotton output may fall 48% this year
• SBI: Only preserving time value of money in Essar
• Philips Carbon Black to fix southern location of Rs 600-crore project; net jumps 92%

Morning Business News :

• RBI further eases external borrowing norms
• E-comm curbs could hit online sales by $46-bn: PwC
• Panel tells steps to achieve $5-tn economy by 2025
• SBI adds new twist in Essar insolvency saga
• Norms mandate local sourcing of gear for power projects
• Clarify on asset freeze: IL&FS ex-directors to NCLT
• Cabinet approves Rs 6,000 recap of EXIM Bank
• Govt eases norms for start-ups seeking exemptions from ‘angel tax’
• SBI-led consortium of lenders likely to bag biggest stake in Jet Airways
• Cabinet clears Rs 22,594-crore plan for expansion of Numaligarh refinery
• Indian Oil Corp may raise about $3 billion through US dollar bonds issue
• Theresa May’s Brexit vote defeat complicates Indian IT firms’ future
• Fortis Healthcare completes acquisition of Religare Health Trust’s Indian Assets
• Mazagon Dock to lease land from Mumbai Port Trust for₹937 cr
• Mindtree posts 35 per cent rise in profit in Dec quarter
• Maha govt keen on buying Air India building in Mumbai
• Phillips Carbon Black to double speciality black’s share to 15% of output capacity
• Bond slide in India reflects fiscal jitters about farm stimulus
• Patanjali only suitor for Ruchi Soya as Adani opts out

• Byju’s acquires US-based Osmo for $120 million
• India to bar private refiners from tapping Iran oil quota
• HPCL unlikely to partner Total for LPG cavern in Mangalore
• Large borrowers fall in line after RBI’s one-day default norm
• Setback for HUL: HC refuses to stay NAA order to deposit Rs 223 crore
• PACL case: Sebi panel receives details of additional 13,863 properties
• Skoda India profit after tax plunges 66% in FY18
• Ashok Leyland set to ply 50 electric buses for Ahmedabad BRTS by May
• CCI fines Gujarat-based Chemist association for restrictive trade practices
• Infosys gets mandate for next-gen ITR filing system
• Allocation of microwave spectrum doesn’t flout SC order: Manoj Sinha
• MFs reduce holding in auto stocks in Dec
• Mukesh Ambani in top Global Thinkers list of Foreign Policy
• Microsoft to include India in venture fund

Morning Business News :

• Trade deficit narrows to USD 27.93 billion in Dec
• Fertiliser Min seeks add’l Rs 23,000 cr to clear dues
• Banks expected to report higher credit growth: Report
• RBI to inject Rs 10,000 crore through open market operations this week
• UK rejects PM May’s EU divorce deal by 230 votes
• Rs 20,000 cr: Amount provident funds may have lost to IL&FS
• Telcos may have to spend Rs 1.25 trn on court cases, stare at huge loss
• IL&FS bows out, govt to invite tenders for Zojila tunnel for the third time
• SC reserves judgment on plea challenging validity of IBC
• Regulatory challenges in India bring Amazon, Walmart into unlikely alliance
• Biocon likely to channelise investments towards non-insulin biologics
• Exports up 0.34% in Dec; trade deficit narrows
• India among world’s leading exporters of creative goods
• Zee Entertainment Q3 net profit up 50.5% to Rs 562.76 cr
• Govt mulling import duty hike on iron ore
• Network18 reports Q3 net profit of Rs 77.16 cr
• Volkswagen, Ford to announce automotive alliance
• European Union to step up planning for no deal Brexit
• Govt forms panel to resolve GST issues troubling real estate sector
• Air passenger traffic to grow sixfold by 2040: Report
• Adani Transmission to raise up to ₹3,000 crore via QIP
• HPCL unlikely to partner Total for LPG cavern in Mangalore
• Sebi amends guidelines for Real state Investment Trusts, Infrastructure Investment Trusts
• Fortis Healthcare completes acquisition of Singapore-listed RHT assets
• Delhi HC seeks government’s response on Dena-Vijaya-Bank of Baroda merger
• Liberty moves NCLAT against MSTC’s Rs 100 crore claim from Amtek Auto
• Moody’s lowers Ireda rating outlook on rising ‘problem assets’
• Syndicate Bank creates vertical to recover Rs 27,000 cr NPAs
• Role of credit rating agencies’ must be assessed: Rajiv Kumar
• Volkswagen to contest NGT fine of Rs 171.34 cr
• BoB may get Rs 7,000-8,000 cr ahead of merger rollout
• MPC could leave rates unchanged in February
• 90% of wood for paper grown by farmers in India

Morning Business News :

• Govt re-promulgates ordinance to amend companies law
• Fiscal deficit target for 2018-19 likely to be breached
• RBI cautions govt over NPA spike in MUDRA loans
• UAE, Saudi to invest in India for food security: Prabhu
• Only 22% shareholders exit IDBI Bank following open offer by LIC
• Fresh auctions for power pacts likely soon
• Airlines may face cap on take-off and landing slots in congested airports
• Changing subscriber base to shape revenue growth for telecom firms
• Saudis set for $11-billion asset selling blitz after a slow start
• Govt to construct 44 strategic roads along the India-China border
• Jet Airways’ 18 aircraft held back in Singapore over unpaid dues

• RBI net-seller of dollars in Nov, unwinding USD 644 mn
• Cabinet set to sign off on₹22,000-cr Numaligarh Refinery expansion
• CII calls for agri sector tax sops in Budget 2019
• ‘Digital platform helps Maharashtra save ₹12k cr in farm loan’
• D-Mart’s margins under pressure, revenue up 33%
• M1xchange eyes ₹12,000 cr business volumes in 2019-20
• Essel in talks to sell part of its roads portfolio
• Finance ministry may sell part of SUUTI holding in Axis Bank, ITC
• BPCL to raise $500 million from overseas bond sale
• Buyout deals drive bumper 2018 for private equity, says report
• Valuation concerns dampen activity in seed stage VC deals
• Viacom in talks to sell majority stake in China operations: report
• India’s largest startup ecosystem inaugurated in Kerala
• FICCI for cut in corporate tax rate in Budget
• Oil output cut: Saudis say OPEC+ move provided a lifeline to US shale
• PNB’s stake sale in housing subsidiary gets delayed
• Government working on bilateral trade pacts to push exports, says Suresh Prabhu
• BSNL faces huge technical, policy, low motivation challenge : IIM-A report
• FPIs pull out Rs 3,600 crore in 9 sessions
• Remission of state levies for more export sectors weighed
• Jeera to see more correction after roller-coaster ride
• NCLT admits insolvency proceedings against Parsvnath Landmark