Month: May 2019

Morning Business News:

• Railways & roads to get the largest chunk of investment
• NCLT approves Tata Steel takeover of Bhushan Energy
• Missing firms in MCA database to have no impact: Govt
• Ficci survey puts Q4 GDP growth at 6.5 per cent
• Not in position to release FY19 results: Jet Airways
• Trai to review interconnection level for networks
• UK court remands Nirav Modi till June 27
• RBI constitutes task force on secondary market for corporate loans
• Growth across geographies keeps analysts positive on Aurobindo Pharma
• Bharti Airtel reports Q4 net profit of Rs 107 cr; revenues at Rs 20,602 cr

• Coal India posts record 362.46% rise in Q4 profit; net revenue jumps 7.53%
• Tech Mahindra, Cisco collaborate to improve digital network offering
• Japan, South Korea tighten grip over Indian steel imports
• Berger Paints Q4 up 4.9 per cent to Rs 111.43 crore
• By 2050 cement industry looks to reduce carbon footprint by 45%
• Ramco Systems bags order from Air Caledonie
• Apollo Hospitals’ fourth quarter net profit grows 29% to ₹76.68 cr
• Mahindra’s electric vehicle sales rise over 2.5 times in FY19
• Expect renewed vigour in economy under Modi 2.0: India Inc
• Lupin’s Goa facility may face regulatory action, says USFDA
• NALCO Q4 profit drops 9% to ₹234 crore
• HSBC plans hundreds of investment bank job cuts in cost push
• Jalan panel to hold next meeting on June 13 to finalise RBI capital reserves
• IDBI Bank narrows Q4 net loss to ₹4,918 cr on lower bad loan provisions
• Sundaram Finance Q4 net Rs 675 Cr; to raise Rs 11,000 Crore
• Huawei gets relief from two tech groups after US trade snub
• Tata Power arm TPREL to develop 100-MW solar power project in Gujarat
• SEA seeks bulk export of rapeseed oil, mustard oil
• DPIIT proposes national retail policy as part of its 100-day action plan
• Rupee rises 12 paise to 69.71 vs USD in early trade
• Investment in participatory notes rises to Rs 81,220 cr till April end
• US economy accelerates in Q1

Morning Business News:

• RBI forms 2 panels to strengthen sale of stressed assets
• GAIL seeks NCLT pass to admit claim against Videocon
• 10 yr tax break on builders’ rental profit on anvil
• NCLAT asks IL&FS firms classified green to pay debts
• PNB sets Rs 20,000 crore recovery target in FY20
• Telecom cos seek govt’s help to unlock Rs 1,400 cr
• NHB orders home financiers to appoint risk officer
• RCom panel of creditors meeting on May 30
• India 43rd most competitive economy, Singapore tops the list: Report
• IDBI Bank invites bids for MF arm; ICICI Securities selected as advisor
• Adani Enterprises’ Q4 net profit up 47% at Rs 266 cr on energy biz volumes
• Domestic air traffic registers negative growth in April, worst in 5 years
• Singapore court rejects India’s plea in case against Nissan: Report

• Adani power reports net profitof Rs 634.64 crore for March-quarter
• RITES registers ₹132 crore net profit in Q4, up 70%
• West Coast Paper Mills to buy majority stake in International Paper APPM
• L&T picks up about 98,000 shares of Mindtree, raises stake to 28.87 per cent
• Mah & Mah consolidated Q4 net falls 16% to₹969 crore
• TARI model to gauge sectoral economic value
• PowerGrid Q4 profit up 52% at ₹3,053.56 crore
• SBI to raise up to ₹5,000 crore by issuing Basel III-compliant bonds
• Hyundai says evaluating market for more SUVs, EVs in India

 

• RBI sets up committee for development of housing finance securitisation market
• RBI extends relaxed norms for NBFC loan securitisation till December 31
• Ascendas-Singbridge plans to double India office portfolio
• PNB to mop up Rs 10K cr from non-core asset sale, rights issue, write-back
• Finolex Cables Q4 net profit rises 4 pc to Rs 84.9 crore
• Spanish firm’s Rs 550-crore quick freezer plant to come up in Ludhiana
• Jaypee Infra insolvency: Lenders put 5 conditions to NBCC for considering bid
• Non-oil companies may get into fuel retailing, govt invites public comments
• United States removes India from currency monitoring list
• Rupee slips 14 paise to 69.83 vs USD
• Sri Lanka signs port deal with India, Japan to develop container terminal
• Bharti Telecom stake in Airtel comes down to 41.24 per cent
• HDFC disburses Rs 2,300 cr as subsidy under PMAY

 

Morning Business News:

• Care Ratings expects power generation to grow
• Sun Pharma Q4 profit halves to Rs 636 crore
• Lookout notice issued against DHFL promoters
• Airtel Africa may raise $1 billion from stake sale
• World Bank to invest $35 mn in Manapurram Finance
• Tech Mahindra & MKI collaborate for Japanese market
• Welspun in talks to own slum rehabilitation projects, loaned by Dewan Housing Finance Ltd
• RBI extends timing for fund transfer through RTGS till 6 pm from Jun 1: RBI
• GMR Warora Energy on verge of defaulting on over Rs 3,000-crore loans
• Adani offers lenders Rs 500 cr upfront in fresh bid for Jaypee Infratech

 

 

• Tata Steel can withstand 20% drop in EBITDA over next 2 years: S&P Global
• Steel may grow by 6-8 pc in FY20 amid concerns over dumping from China
• FDI inflows record first decline in six years this fiscal
• Pfizer Q4 net up 4.74 per cent to Rs 109.47 crore
• IT Dept trains officers to detect tax evasion in shell Cos
• Hind Copper consolidated Q4 net up 16% to Rs 40 cr
• Mphasis Q4 net profit up 11.9 per cent to Rs 266 crpre
• NMDC net profit grows 31% to₹1,453 cr in Q4
• Gail to list Gail Gas, plans ₹54,000 crore capex in 2-3 years
• Tata Consultancy Services listed among top 50 US companies for diversity
• Bank ETF launch likely By Dec, to help funds mop-up, cut govt stake in banks
• IRB Infrastructure Q4 net profit dips 13% to₹208 crore
• SBI looks to raise up to ₹18,000 cr via QIP
• NCLT asks Sebi to conclude probe into ITC, LIC allegations against Leela
• Lakshmi Vilas Bank Q4 net loss narrows to Rs 264 crore
• India can attract 1.5-2 per cent FDI to GDP ratio: Nomura
• DLF transfers Rs 330 crore land to JV with GIC for settlement of dues
• Rupee slips 18 paise against dollar on high dollar demand
• Sensex, Nifty clock fresh closing highs on fund inflows
• NCLAT gives 4 weeks to Bakshi to settle dispute with HUDCO
• PNB narrows Q4 loss to Rs 4,750 crore

Morning Business News:

• FinMin starts groundwork for fresh bank consolidation
• India’s economy big worry for Modi: FICCI
• Airtel submits Rs 644 crore bank guarantee for merger
• IndiGo Q4 profit jumps 5-fold to Rs 590 crore
• Provide names of big loan defaulters: CIC to RBI
• Radio City to acquire 40 Big FM stations for Rs 1,050 cr
• Arcelor, Resurgent said to mull joint bid for Essar plant
• China’s planned curbs on aluminium scrap imports nettles Indian players
• India Inc Q4 revenue growth slumps to six-quarter low of 10.7%

• Indian Hotels to go on global expansion spree, may opt to buy out firms
• Avendus Future acquires stake in Bikaji Foods for Rs 40 crore
• Lupin’s Goa plant may face regulatory action, says USFDA after inspection
• BHEL Q4 results: Net profit jumps 50 per cent at ₹682.7 crore
• Colgate-Palmolive Q4 net up 4.7% to Rs 197.50 cr
• Inventory write-off drags Natco Pharma’s net down 60%
• Pension scheme provisioning pushes Oil India into red
• NHPC net up 2.5 times in Q4
• HAL’s Q4 profits 13.09% higher
• PIL against the operations of the Paytm Post Paid Wallet filed in Delhi HC
• Zee Entertainment Enterprises Q4 net profit up 26.8% to ₹292.53 crore
• Kerala to levy 1% flood cess from 1 June
• Govt proposes WTO-compliant schemes to boost Make in India
• Zee stake sale to be completed by July, says Punit Goenka
• GDP growth in Q4 likely to moderate to 6.1-5.9%, may lead RBI to cut rates: SBI report
• Bid for BPSL: Lenders move NCLAT for quick approval to JSW Steel’s plan
• Ingen resolution plan for Orchid Pharma rejected again
• India Inc revenue growth in Q4 hits six-quarter low of 10.7 pc
• Confident of timely payment of salary for May: BSNL chief
• Amid recovery in greenback Rupee settles with 2 paise gain against USD
• Emami’s net sales up 5 per cent at Rs 635 crore

Morning Business News:

• Power gencos outstanding dues on discoms jumps 63pc
• COAI urges new govt to ease telecom sector’s woes
• Govt to merge CSO with NSSO to create new stats body
• GMR Group gets a major tax relief from Maldives
• Government restricts bio-fuel imports
• UK must be ready to leave EU without deal: Raab
• Manipal Hospitals to buy Medanta in Rs 5,800 crore deal
• Renault and Fiat set to announce talks for a potential merger: Report
• Switzerland steps up sharing banking info; 11 Indians get notices in a day

• Indians top investors in Dubai’s gold sector among 10 nationalities: Report
• Jaypee Infratech’s creditors to discuss NBCC acquisition bid on May 30
• India Cements Q4 profit up 24% at Rs 44 crore on improved prices
• GST standard rates may not be merged any time soon
• CBDT eyes 20% jump in tax revenue
• Usha International bets big on water pump biz
• Textile industry asks retailers to source garments locally
• Salzer acquires 72% stakein Kaycee Industries
• Adani Solar eyes 50% share in retail market for panels
• India rejects attempts by US, others to deny policy space at WTO
• Single authority for sanctioning, processing GST refunds likely by August
• JSW Steel navigates softer commodity prices well in Q4
• Air India bid to sell prime real estate fails to take off
• Government asks Jet Airways’ lenders to share audit report
• Trai spectrum prices high due to inconsistency in principles: Study
• Indians lead top 10 nationalities investing in Dubai’s gold sector
• India will be single best place to invest in the future, says Fairfax’s Prem Watsa
• Cipla says looking at continued growth across key markets in FY20
• FPIs pull out Rs 4,375 crore in May so far
• FinMin to launch ETF with bank stocks, fin institutions this fiscal
• Fortis Healthcare posts Q4 net profit of Rs 151 cr
• FPIs pump in over Rs 5,800 crore post-polls
• L&T picks up Mindtree shares worth Rs 316 cr between May 20-24

Morning Business News:  

• India’s rating hinges on policies of new govt: Moody’s
• Adani Ports to set up first container terminal outside India in Myanmar
• De-growth in domestic traffic due to Jet Airways grounding: Icra
• DP World acquires 76% stake in KRIL
• Startups to restart talks on issues with govt
• Modi’s big win signals strong GDP growth to continue
• EPFO may suspend investment in private sector bonds, say sources
• Nippon Life, Reliance Capital sign deal for sale of mutual fund arm

• GIC Q4 PAT down 19.7% at Rs 603 cr on provisioning for IL&FS exposure
• Basmati exporters hold shipments to Iran fearing payment defaults
• Domestic pharma companies eye robust growth from US market in FY20
• Steel Strips Wheels bags orders for 400,000 wheels
• New govt to award lease rights for 6 non-metro airports to Adani
• Hindujas may invest₹1,500 cr in Jet
• Stable govt to boost economic growth, foreign fund flow: India Inc
• After OFS, promoter stake in Adani Green reduces to 80%
• China says door open to trade talks, but slams tech controls
• Spectrum auction, 5G trials top Telecom Ministry agenda for new government
• Stock market wealth grew by ₹75 lakh cr since Modi-led NDA won polls in 2014
• Liberalization of debt financing norms: The need to evaluate investment models
• DHFL Pramerica MF merges schemes with risk debt, launches side pocket in 2 FMPs
• BJP’s victory to improve biz sentiment, boost pvt investment: Fitch
• EU, China, Thailand join hands against India’s ICT products tariff
• Ola Fleet Tech gets Rs 40-crore loan from Tata Motors Finance
• April witnesses 96% fall in M&A deal values: Report
• Rupee pares gains, settles 36 paise down at 70.02
• Sensex sheds 298.82 to close at 38,811; Nifty shrinks to 11,650
• Paytm Payments Bank posts profit of Rs 19 cr in FY’19
• Hulst BV acquires additional 98,100 shares in NIIT Technologies

Morning Business News:  

• FinMin starts meeting with industry bodies for budget
• Over 80% Indian firms plan divestment in next 2 yrs: EY
• BoB reports surprise Q4 loss of Rs 991 crore
• British Steel collapses, costing thousands of jobs
• Joint bid for Jet innovative but complicated: Experts
• Jaypee Infratech lenders start negotiations on NBCC’s bid as per NCLAT order
• Government plans Rs 1,000-crore fund for startups in priority areas
• M&A deals in April see 96 % decline to $735 million: Report
• India’s economic growth set to gain pace despite US-China trade conflict

• I-T dept set to bring changes in tax audit report for charitable trusts
• IL&FS crisis may lead to consolidation in NBFC sector: Fitch Ratings
• Sebi floats discussion paper to plug gaps in buyback regulations
• Govt to sell 100% stake in Kamarajar Port to Chennai Port for over Rs 4k cr
• NSE co-location scam: CBI to go after the high and mighty
• Bajaj Electricals Q4 net jumps two fold to Rs 28.54 cr
• NMDC iron ore output jumps 20% to 2.90 MT
• DLF’s Q4 net profit surges to ₹435 crore
• JSPL reports ₹1,154-cr Q4 loss
• SAT stays SEBI disgorgement order against NSE
• Ramco Cements’ Q4 net rises 51% on better prices
• Sebi, bourses step up surveillance measures for markets on election results day
• JK Lakshmi Cement Q4 net up 27.8% to₹43.25 crore
• Snapdeal may acquire ShopClues at a likely valuation of $250 million
• Sterlite expects to re-open Tuticorin plant in next few months
• SEBI approves Emami Cement IPO, may hit market in 6 months
• India favours rule-based, transparent trading system, says Sushma Swaraj
• China ready for further US trade talks, ambassador Cui Tiankai says
• Japan exports fall again as Donald Trump’s trade policy threatens economic outlook
• Real estate firms in a tough spot after Maharashtra AAR ruling
• Punjab National Bank may take OBC, Andhra, Allahabad bank in fold
• India, Japan to sign up for Colombo terminal
• Air India to start new domestic and international flights from next month
• CCI probe finds Monsanto abused dominant position: sources

Morning Business News:  

• Airtel, Voda Idea lose 30 mn users in March, Jio gains
• Evaluating Jet Airways opportunity, says Hinduja Group
• NCLAT reserves order on ArcelorMittal
• PNB may take control of 2-3 small state-run banks
• Indian millennials optimistic about economic outlook
• Tech Mahindra inks defence contract worth Rs 300 cr
• HPCL to borrow Rs 8K cr in FY20 to fund expansion
• Co-location: NSE moves Securities Appellate Tribunal against Sebi rulings
• ICRA downgrades long-term rating for IDFC First Bank from AA+ to AA

• High-level committee submit strategies on reducing import: Oil ministry
• RBI to establish supervisory body to strengthen regulation of banks & NBFCs
• Corporation Bank plans to trim slippages by 50% to Rs 4000 crore in FY20
• EPFO looks to pull back NBFC investments to avert default risk
• Govt turns the heat on directors in fight against shell companies
• Small trucks see growth, bucking industry slowdown
• Solar-powered water pump launched for farming sector
• Reliance beats Indian Oil Corporation to become biggest Indian company
• Vedanta bags two copper blocks in Maharashtra
• India’s thermal coal output seen growing 4.3% annually till 2028: Report
• 68% Indians feel job market has improved in last 5 years: Survey
• India among top 20 countries in the Artificial Intelligence readiness ranking
• IL&FS initiates claim process for 70 group entities
• Sebi permits mutual funds to participate in commodity derivatives
• Crompton Greaves Consumer Electricals Q4 net up 36% at Rs 140.54 crore
• India projected to grow at 7.1% in FY’20: UN report
• New Indian government faces crucial foreign policy decisions, say US experts
• US-China trade war gradually destabilising world economy
• 46 pc ultra high net worth Indians to increase investment in private equity: Survey
• L&T market capitalisation to touch Rs 3 lakh crore in five years: AM Naik
• Oil rises on US-Iran tensions, but trade war concerns weigh
• Rupee edges up 2 paise against US dollar as investors turn cautious

Morning Business News:  

• RCEP: Aluminium body cautions govt about China
• WTO warns trade weakness to continue in Q2
• Australian election results bode well for Adani
• India adopts new standards for measuring units
• Irdai proposes to increase 3rd-party insurance premium
• MNC boardrooms open doors to Indian women leaders
• Power sector’s outstanding regulatory assets at Rs76,963 cr
• Full blow trade war will push world towards recession: Morgan Stanley

• Auditor exits mount at listed SMEs as scrutiny increases after IL&FS crisis
• Torrent Pharma reports Q4 net loss of Rs 152 crore, cites drug recall
• Lakshmi Vilas rejects Religare Finance’s disclosure, threatens action
• WTO: US seeks to join Japan-India consultations on IT product tariffs
• Tata Motors profit dips 47 % in Q4
• WTO quarterly trade growth indicator still at nine-year low
• HPCL Q4 net profit jumps 70% on inventory gains
• Gold imports rise 54% to $ 3.97 billion in April
• Ford to cut about 10% of global salaried workforce
• ICICI Bank to buy stake in BSE subsidiary INX for ₹31 crore
• BPCL Q4 net profit rises 16% to ₹3,125 cr; revenue up 10% at ₹83,942 cr
• JLR posts 1st profit in four quarters despite China woes
• Adani Green Energy’s 8.75 crore shares to be offered for sale on Tuesday
• Bitcoin roars back from ‘flash crash’ to breach $8,000 once more
• Bank credit to infra sector grows 18.5% in FY19: RBI data
• TRAI says up to government to take a call on Huawei issue
• ArcelorMittal to pay Rs 42,000 crore for Essar Steel takeover: Company tells NCLAT
• Dr Reddy’s to spend $300 million on R&D in FY 20
• Rupee records biggest gain in 2 months after exit poll results
• Gold loses sheen, falls Rs 150 on lacklustre demand
• Investor wealth soars Rs 5.33 lakh cr as exit polls predict return of NDA govt

Morning Business News:  

• MCA sees Rs 2.8 lakh cr recovery from IBC-led RP
• IOC to examine US sanction’s impact on CPCL plans
• India may witness slowdown as oil imports decline
• DoT to soon settle merger/transfer of licences in M&As
• BoB looks to rationalise 800-900 branches
• Pre-monsoon rainfall deficit drops to 22 per cent
• Reliance Capital protests ratings downgrade
• India reports trade deficit with 11 RCEP members in FY 2018-19
• OPEC members meet to assess oil market after US sanctions on Iran

• NMDC plans to acquire 100 per cent stake in Australia’s Legacy Iron-Ore Ltd
• Debt-ridden Essar Steel reports Rs 4,229 cr EBITDA during insolvency period
• ICICI-Videocon loan case: Kochhar contests bonus clawback, ESOP termination
• CBDT allows AMCs to directly manage offshore funds out of India
• NBFC crisis to top agenda of new govt
• Jet employee group offers to invest $700 million
• AgMA Energy plans to launch India-specific agri products
• No interest in taking control of IndiGo: Rakesh Gangwal
• Dredging Corporation of India wins annual contracts from Cochin and Paradip port trusts
• ONGC, GIP, Tripura govt eye to buy out IL&FS’s 26% stake in OTPC
• TCS eyes double-digit growth in FY20, says COO Subramaniam
• Dr Reddy’s Laboratories serves a bitter medicine in March quarter
• RBI’s vision document on payment systems to spur digital economy: Fintech firms
• Life insurance industry to focus on millennials, digital-human interface
• IMFA posts loss of Rs 74 cr in January-March qtr
• Power producers seek removal of double taxation on imported coal
• RBI to boost card payments with 34% increase in PoS terminals by end of 2021
• Japan’s Orix to acquire wind assets of IL&FS
• GST Council may consider national bench of AAAR next month
• FPIs withdraw Rs 6,399 crore in May so far
• AstraZeneca moves US court against Aurobindo
• RBI releases ‘Vision 2021’ for payment systems for ‘cash-lite’ society