Morning Business News Round Up_June 12, 2019

Morning Business News :

  • CII chief Vikram Kirloskar calls for tax cut on equities
  • Fund transfers via RTGS, NEFT to cost less from July 1
  • RBI’s norms to give more headroom to lenders: Report
  • Govt defends growth data, says followed global practices
  • RIL, BP to develop deepest gas find in KG-D6 block
  • Bring down corporate tax to 18 pc sans exemptions: CII
  • Excess RBI capital must be used to recap PSBs: Report
  • At Rs 40,000 cr, DoT seeks 6% rise in budget to boost rural connectivity
  • Crisis-hit DHFL makes Rs 962 cr payment towards non-convertible debentures
  • EU anti-trust authority blocks Thyssenkrupp-Tata steel merger plan
  • UK unemployment rate at 3.8%, lowest in 45 yrs despite Brexit, slow growth

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  • Blackstone buys majority stake in Aadhar Housing Finance for Rs 2,200 crore
  • New labour legislation to merge 44 laws under 4 groups
  • Govt looking at tariff, non-tariff measures to reduce steel imports
  • India’s GDP growth overestimated by 2.5%, says former CEA Arvind Subramanian
  • Yes Bank reduces stake in Fortis Healthcare by two per cent
  • JSW Steel’s crude steel output grows 4% at 14.53 LT in May
  • BHEL bags Rs 440 cr order from NPCIL
  • MFs reduce exposure to shadow banks by₹67,000 crore since September
  • BoB puts Bhushan Power, 66 others accounts on block as NCLT process gets delayed
  • Investors cheer as Adani Ports cuts related-party loans, steps up dividends
  • WTO reform process should not undermine its basic principles: Piyush Goyal
  • Moody’s places Yes Bank’s ratings under review for downgrade
  • RBI’s bad loan norms to give more room to lenders to resolve big ticket NPAs
  • Reliance to develop deepest gas discovery in KG-D6 block by 2022 jointly with BP
  • Dip in tax revenue from revised estimate sharpest in 15 years
  • Anil Ambani says Reliance-ADAG has serviced debt over Rs 35,000 crore
  • Rupee recovers 21 paise against US dollar
  • Auto component industry seeks stable road map for EV transition
  • Moody’s puts Yes Bank under rating review
  • Auto cos seek support as sales see sharpest decline in 18 yrs
  • Indiabulls denies fund diversion charges

Morning Business News Round Up_June 11, 2019

Morning Business News :

  • Fed Reserve ‘very, very destructive’ to economy: Trump
  • NPAs falling faster than RBI’s estimate: Crisil
  • BoB tries vertical structure for operational synergies
  • IL&FS may file plea against lenders for 800cr withdrawal
  • Plea to act against Indiabulls for misappropriating 98K cr
  • Wipro rolls out new solutions for aviation sector
  • Trai directs Tata Tele to refund users’ unspent balance
  • Govt moves NCLT for 5-year ban on IL&FS Financial Services auditors
  • No-frills account holders to get cheque books, allowed zero balance
  • BHEL bags three orders worth Rs 520 cr to set up solar plants in Maha, Guj
  • Mutual Fund assets rise to Rs 25.43 trn in May, FMPs outflow continues

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  • Sebi suggests new informant mechanism with rewards to curb insider trading
  • Despite oil price volatility, earnings prospects good for ONGC
  • Centre planning to integrate MSMEs with big enterprises
  • Jaypee Infra insolvency: NBCC’s revised bid may not pass muster with CoC
  • Dr Reddy’s Laboratories announces drug to treat plaque psoriasis
  • Aditya Birla Fashion Retail to acquire two ethnic wear brands
  • The Netherlands woos Indian investors as UK prepares for Brexit
  • Eros group says it is taking action to resolve loan payment delays
  • DHFL pays ₹45 crore as payment on interest and principal amount for NCDs
  • Big data to improve quality of macro-economic aggregates, says government
  • TCS overtakes RIL to become most valued firm by m-cap
  • Govt seeks firms to advise on PSU land, building monetization
  • Reliance to shut crude unit at Jamnagar refinery
  • Jaypore to power Aditya Birla Fashion’s presence in ethnic wear market
  • India among top destinations for London technology companies, says report
  • Rupee pares gains, settles 19 paise lower against US dollar
  • MF assets inch closer to Rs 26 lakh crore mark
  • ITC ropes in Boman Irani for Savlon
  • Hero MotoCorp gets BS-VI certification for Splendor from ICAT

Morning Business News Round Up_June 10, 2019

Morning Business News:

  • Need to relook at regulation of NBFCs: RBI Governor
  • BoB puts accounts worth over Rs 9k cr on block
  • SIAM, CII urge govt to follow practical approach on EV
  • IL&FS fraud: Whistleblower sought to uncover it in 2017
  • ONGC, Vedanta set to win 9 oil, gas blocks each
  • G20 takes note of trade wars hurting growth
  • India looks to finalise list of 5G spectrum bands for meet
  • RIL-BP wins first block under OALP rounds, Oil India, Vedanta bag the most
  • DHFL aims to clear all dues by the end of ‘cure period’, rescale business
  • Industry blames policies, USFDA probes for 73% drop in pharma FDI
  • India is the third-most appealing bond market for FIIs, says study

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  • GST Council may fix Rs 50 cr turnover limit for e-invoice in June 20 meet
  • NITI Aayog’s electric mobility proposal irks India’s auto industry
  • WTO reform should not undermine its basic principles, says Piyush Goyal
  • Pre-Budget consultations: Finance Minister to meet economists, industry
  • BPCL to invest ₹6,877 crore to revamp Mumbai refinery complex
  • Reliance Power records loss of ₹3,558 crore in fourth quarter
  • Land request for shore-based plant: SAIL gets positive response from Odisha govt
  • Coal India to hire merchant bankers for acquiring stakes in Australian coal assets
  • Divided G20 admits worsening trade wars pose risk to world economy
  • Delay in monsoon pushes rainfall deficiency to 45% in first 9 days of June: IMD
  • Developing nations call for balanced approaches in e-commerce, proposed reforms
  • Investors cheer as Adani Ports cuts related-party loans, steps up dividends
  • MFs reduce exposure to shadow banks by ₹67,000 crore since September
  • RBI’s 12 February circular makes a comeback with a dash of humility
  • Free flow of data powers higher productivity, innovation but raises challenges as well, says G20
  • IMF’s Lagarde urges G20 to prioritise resolving trade tensions
  • G20 to wrap up digital tax by 2020 for tech giants reducing their corporate taxes
  • Central Bank of India plans to raise Rs 5,000 cr this fiscal to meet Basel III norms
  • Power minister positive on achieving 175 GW renewable energy target
  • Govt mulls national institute for valuers

Morning Business News Round Up_June 07, 2019

Morning Business News:

  • ‘Middle East, China drive India’s export growth’
  • India to grow at 7.3% in 2019, 7.5% in 2020: G-20 note
  • SBI closely monitoring exposure to shadow banks
  • ED to widen probe in ICICI Bank-Videocon loan fraud case
  • RBI expects government to move on fiscal consolidation
  • India software market to touch $6.1 bn in 2019: IDC
  • India lost USD 13 bn to trade misinvoicing: Report
  • Niti Aayog readies list of over 50 CPSE assets for sale
  • RBI removes charges on RTGS/NEFT transactions; banks to pass on benefits
  • RBI lowers FY20 growth forecast to 7% over slowdown in investment activity
  • States, schemes and disaster management bear cost of fiscal discipline
  • India to order taxi aggregators like Uber, Ola to go electric: Report

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  • RBI to issue revised circular on NPA resolution norms in 3-4 days: Das
  • Govt set to upgrade CPI, IIP series in 2020
  • Allcargo exits ship-owning business
  • IOC, HPCL to contest over Rs 4,000 cr tax demand on sale of ethanol blended petrol
  • India notifies tax info exchange pact with Marshall Islands
  • RBI raises retail inflation forecast for Q1 FY20 to 3-3.1%
  • JSW Steel considering bid for insolvent British Steel
  • Decision on next China tariffs on $325 billion imports after G20: Trump
  • BS-VI emission norms to be implemented from next year, says Javadekar
  • Advent International raises $17.5 billion for ninth global private equity fund
  • Creditors can expect 100% recoveries under IBC: IBBI chief
  • Skyblue Buildwell acquires 82.6% stake in HomeShop18
  • RBI Monetary Policy eased further: Repo rate cut to lowest in nine years as slow economic growth hurts
  • Modi needs $190 billion bank cleanup to revive economic growth
  • RBI to issue on tap licence guidelines on small finance banks in August
  • Fertiliser subsidy: Govt looks to roll out 2nd phase of direct benefit transfer
  • Azim Premji to retire as executive chairman of Wipro; son Rishad to take over
  • Bankers, finance players hail RBI repo rate cut, hope consumer demand gets a boost
  • Investors lose Rs 2.22 lakh cr as equities plunge
  • Third-party insurance for cars, 2-wheelers to become costlier
  • Minimum leverage ratio set at 3.5 per cent

Morning Business News Round Up_June 06, 2019

Morning Business News:

  • Crisil slashes DHFL CP rating to ‘default’
  • RBI may ease up on timelines for stressed assets
  • No iron ore scarcity in country post 2020: PMAI
  • Prasad to expedite telecom connectivity programs
  • FDI in services sector up 37 pc to $9.15 bn in 2018-19
  • IL&FS fire could singe many audit cos in India
  • Services sector activity growth slips to 12-month low
  • Tech Mahindra to reduce greenhouse gas emissions
  • US-China trade war, fragile prices hurt metal sector performance

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  • Gadkari promises Rs 15 trillion highway spending, revival of IL&FS projects
  • Fitch downgrades ICICI Bank rating from BBB- to BB+ amid banking distress
  • DHFL-exposed MF schemes suffer 30-50% drop in NAVs, Icra data shows
  • ACC, Ambuja steadily losing market share on reluctance to diversify
  • Heavy Industry Dept invites EoI for 5,000 electric buses
  • Govt to consider fixing nutrient-based subsidy rate for urea
  • Govt may announce infusion of ₹4,000 cr in PSU non-life firms in Budget
  • NTPC may set up solar power project without signing a power purchase pact
  • JSW Steel to increase capacity of Vijayanagar plant after 2020
  • Coal India lines up ₹ 10,000 cr capex to boost output
  • Government sets the ball rolling to create more jobs and attract investments
  • World trade seen having worst year since 2009 as spat worsens
  • Resolving trade tensions ‘immediate priority’ for G20, says IMF’s Lagarde
  • Liquid funds may have to invest a fixed portion of assets in govt securities
  • Wipro to acquire US-based ITI for around₹312 crore
  • Govt underpaid food subsidy bill by ₹69,394 crore in FY19
  • Dighi Port chairman Vijay Kalantri under the scanner, Bank of Baroda declares him as ‘wilful defaulter’
  • International Finance Corporation bets on insurance market, backs this startup
  • IMF slightly lowers China’s 2019 GDP growth forecast to 6.2%
  • US decision to withdraw GSP benefits violates global trade rules: Experts
  • Rs 11.79 lakh cr Indian tobacco sector employs 4.5 cr people: Study
  • Nirmala Sitharaman to attend G-20 Finance Ministers’ meeting in Japan
  • Manipal Group to have 51 per cent stake in Cigna TTK

Morning Business News Round Up_June 04, 2019

Morning Business News:

  • RBI exempts PSUs from bank’s large exposure rules
  • Fitch downgrades ICICI Bank rating by a notch
  • Bank fraud reached unprecedented levels in 2018-19, reveals RBI
  • Panel recommends digital transactions to govt be free
  • MCA examining solutions to cut delay under IBC
  • Increased power supplies regulate prices: IndRa
  • Need to shift to structural deficit: SBI economists
  • India’s GDP to exceed $3 trillion; to become 5th largest economy in 2019

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  • Dip in oil prices, stable rupee indicate signs of growth: Finance Secretary
  • India narrowing gap with world leader China on steel sector jobs: Study
  • Debt funding in MFIs up 63% to Rs 35,759 cr in FY19, equity rises 42%
  • Factory activity shrinks across Asia as US-China trade war escalates
  • Agri Ministry projects record rice, wheat output for 2018-19
  • SAT’s no order in PW case puts firms, SEBI, auditor in a spot
  • NTPC seeks ISA’s endorsement for developing solar projects
  • Canada’s CDPQ invests ₹1,244 cr in M&M Benefit Trust
  • On ICICI Bank petition, NCLT orders insolvency process against Marg
  • TVS Motor total sales falls 0.89% to 3,07,106 units in May
  • SoftBank eyes smaller deals, early entry into startups in India revamp
  • Government bank earnings provide some good news on bad loans
  • India assets buck Asia losses as weaker GDP spurs rate-cut bets
  • Fintech adoption grew 64% in 2019; India and China ahead in emerging markets: EY
  • Collapsed Jet Airways’ ex-partners, rivals scramble to fill India capacity void
  • China manufacturing data suggests some damage from trade war
  • India to become 5th largest economy globally this year; 2nd in APAC region by 2025
  • India Inc pitches for land and labour reforms to achieve double-digit growth
  • Commerce Ministry to hold meet on Jun 6 to discuss ways to boost exports
  • RBI monetary policy panel starts discussions on monetary policy review
  • Sensex, Nifty close at record highs on rate cut hopes
  • Batliboi barred from auditing banks
  • Telecom spectrum auction to be held this year: Prasad

Morning Business News Round Up_June 03, 2019

Morning Business News:

  • DoT may auction 4G, 5G spectrum by October
  • Trump urges Britain to go for no-deal Brexit
  • China says war with US would be a disaster
  • CIL’s output falls 1.1%, off-take 1.4% in May
  • ‘World airline industry to post $28 bn profit in 2019’
  • TPDDL claims Rs 7 cr dues from NDMC, DSIIDC
  • Hero MotoCorp May sales up 13.5% to over 6.5L units
  • Bharti Infratel, Indus Towers merger gets NCLT nod
  • Reliance Industries resumes lobbying in US power corridors, hires new firm

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  • ONGC overtakes IOC as most profitable PSU after profits jump by 34% in FY19
  • Hyundai’s domestic sales hit slow lane in May; decline 5.6% to 42,502 units
  • Planning to raise Rs 11,900 cr in FY20 through share sale: Bank of Baroda
  • India plays down Trump decision to remove US trade privileges
  • Govt committed to take new reform initiatives, says NITI chief
  • Tata Steel completes acquisition of Bhushan Energy
  • Tata Motors domestic sales decline 26% to 40,155 units in May
  • BEL eyes space electronics as next growth area
  • Maruti reports 22% drop in May sales at 1,34,641 units
  • Mahindra & Mahindra sales drop 3 per cent to 45,421 units in May
  • Earnings of Indian firms decline for the first time in six quarters
  • Glenmark’s sticky debt and moderate US growth is making investors edgy
  • Swiss bank accounts: Notices to Indian clients continue
  • RBI likely to cut repo rate by 25bps on weak growth, soft inflation
  • Distressed debt funds out of favour in 2019, shows report
  • Sebi wants 10% mandatory deposit before appeals at SAT against its orders
  • BBNL eyes taking over operations, maintenance work of BharatNet infra
  • Reliance restarts lobbying with US lawmakers; ropes in new lobbyist
  • Morgan Stanley warns of recession within a year
  • Demand slowdown drives 5.32% fall in gems and jewellery exports in FY19
  • GST collections in May at Rs 1 lakh crore
  • FPIs remain buyers for fourth consecutive month; infuse Rs 9,031 cr in May
  • GSK Consumers Healthcare gets shareholders’ approval for merger with HUL
  • Removal of trade status will not hinder economic ties with US, says India
  • SFIO may attach assets of IL&FS honchos, auditors
  • Inventory levels still high with dealers