Month: July 2019

Morning Business News:

• Iran to invest in Indian refinery says, ambassador
• WTO opens the way for Chinese sanctions against the U.S.
• India’s Vedanta to invest $650 million in new oil blocks
• Banks bad loans down at Rs 9.34L crore: Sitharaman
• Lenders to DHFL ready for a haircut in rescue – sources
• Centre cuts interest on GPF by 10 bps to 7.9 percent
• Cox and Kings defaults again; shares at a record low
• 10-year bond yield hits the lowest level since demonetization, closes at 6.33%
• Moody’s affirms Baa1 rating to state-owned ONGC over better oil prices
• Future of Wipro will outshine everything is done so far: Azim Premji
• Goyal backs multi-brand FDI policy, says no changes in the offing
• Federal Bank Q1 net profit up 46% to Rs 384 crore as bad loans ease
• SEBI provides a new format for compliance report on corporate governance
• HDFC AMC Q1 net profit zooms 42 percent, at ₹292 crore
• Jet Airways creditors set insolvency process in motion
• Passenger vehicles retail sales dip 4.6 percent in June: FADA
• Bharat Dynamics eyeing ₹25,000 cr order book in next four years
• Retail investors can also participate in the primary market issues of G-secs
• Essar Steel case: Lenders move SC against NCLAT order
• DCB Bank Q1 profit jumps 16.63% at ₹81.06 crore
• Creditors’ committee of Jet Airways to vote on $10-million interim funding
• Bombay  HC  quashes permits for a ₹14,000-crore  coastal road project
• 2,500 drugs samples out of 76,000 examined found substandard in 2018-19
• Oil India signs contract for 12 oil blocks; Vedanta 10, ONGC 8

• Taxmen detects Rs 37,946 crore fraud in FY1
• India’s renewable energy capacity crosses 80GW-mark, says RK Singh
• NSE to exclude DHFL shares from equity derivatives segment from Sept 27
• Rupee falls 17 paise against USD on rising crude, capital outflow
• Private banks’ share in MF holdings nears 20 percent
• KPMG makes a bid to revive Videocon

Morning Business News :

• India’s trade deficit falls to $15.3 bln in Jun vs $16.6 bln last year
• India Jun WPI inflation rate 2.02% vs 2.45% May
• Junior finance minister says Centre ready to negotiate cut in CTT
• Govt says no decision on changing financial year to Jan-Dec
• Govt mulls hiving off GAIL’s pipeline ops as a separate arm of co
• Kerala to get $250 mln World Bank loan for flood resilient programme
• RBI fines SBI 70 mln rupees for NPA classification norms’ violation
• Slowdown in auto, realty may dent NBFCs’ disbursement growth numbers
• Dewan Housing aiming for resolution without any haircut to lenders
• IL&FS subsidiaries invite bids to sell real estate in GIFT City
• InterGlobe Ent says it took more fincl risks for IndiGo than Gangwal
• JSW Steel seeks copies of forensic reports against Bhushan Power
• Weak demand prompts Ashok Leyland to shut Pantnagar unit for 9 days
• New stores aid D-Mart owner’s Apr-Jun, margins expand after 3 qtrs

• Demand slowdown hits Bajaj Consumer’s volume growth
• TCS gets contract from Dutch co to automate supply chain IT ops
• Nippon Life open offer for Reliance Nippon AMC to start Jul 23
• US FDA clears Natco Pharma’s Chennai facility post inspection
• Eye on Future, HUL launches laundry brand after 30 years (ET)
• Future Enterprises says CFO arrested on charges of tax evasion
• SEBI action in mutual fund irregularities doubled in FY19
• Packaged foods high on salt, fats, may carry red tag, says FSSAI
• ICRA sees securitisation market growing to over 2 trln rupees FY20
• Lenders sign debt recast agreement with 3 IL&FS road projects
• Govt ups gold base import price by $2/10 gm, cuts silver’s by $3/kg
• Govt cuts base import price for edible oils by $11-$16 per tn
• Ahmedabad-bound IndiGo flight returns to Goa after “technical glitch
• Cotton Association sees 2018-19 yield at 10-year low on weak rains
• IT companies tightening salary budgets, leveraging variable pay for niche skills
• Vodafone Idea ‘repays’ significant chunk of 43-bln-rupee loans
• To keep discounts in play, Flipkart writes a sop story
• Deloitte, KPMG firms get time till Fri to argue against ban plea
• Adani Port likely to raise $650 mln via bond sales
• NCLAT to hear ArcelorMittal’s plea on EPC Construction on Aug 8
• Shriram Transport Fin NCDs may offer up to 9.7%, more for seniors
• Suzlon stares at FCCB default, tells bondholders to hold on
• China’s GDP growth slows to 6.2% in Apr-Jun, a 27-year low
• World Bank imposes $5.97 bln fine on Pakistan over mining lease case
• Boeing 737 MAX grounding could stretch into 2020
• Huawei plans deep job cuts in US
• US cos may get nod to restart Huawei sales in 2-4 weeks
• US, Chinese officials to discuss trade in phone call this week, says Mnuchin
• Trump sees slowing Chinese growth pressuring Beijing on trade
• Pearson goes ‘digital first’ in US college market
• Vale to pay $106.5 mln to workers affected by Brazil dam disaster
• Citigroup profit beats estimates on gains in consumer lending
• Gilead invests $5 bln to deepen ties with biotech Galapagos
• IKEA closing only US furniture factory, cutting 300 jobs

 

Morning Business News :

• DHFL warns investors it may not survive as a going concern
• Tatas may have to take a call on debt-heavy TCL
• ‘Govt to pay damages to consumers for load sheddings’
• Tata Steel’s Q1 steel output grows 9% to 7.61 MT
• Ceat lines up Rs 3,500 crore capex to ramp up production capacity
• As IndiGo faces turbulence, regulators intensify scrutiny of governance lapses
• Lenders wary of using IBC for debt resolution over creditors’ parity
• Balance sheet of India Inc weakens; net debt-equity ratio inches up in FY19
• After RInfra and RPower, lenders to rejig debt of 2 more Anil Ambani firms
• Torrent Pharmaceuticals manages to improve Unichem’s FY19 profits

• Sterlite’s closure hits Vedanta copper earnings; revenue drops by 57%
• Stop steel exports at lower than domestic price: Consumers’ associations
• IOC hires foreign flagged VLCC at day rate of $31,950 for seven years
• Solar energy body seeks capping tariff at ₹ 3/unit under NTPC, SECI auctions
• BHEL bags ₹100-cr order from NTPC to set up solar power plant
• Lupin aims to launch new products across geographies this fiscal
• Guidelines for PSU banks to pick pooled assets of NBFCs likely this week
• LIC new premium more than doubles in June
• Unicorn India Ventures launches ₹400 crore tech-focused fund
• Govt says Deloitte misreading law in challenging government’s call for ban
• Nine of top-10 firms lose ₹88,609 crore in m-cap, HDFC Bank, TCS top losers
• E-commerce: Reliance Jio not to take on Amazon and Flipkart, readies platform to wire kirana stores
• Relief for power firms: Govt asks Aptel to crack down on ‘regulatory assets’
• Unprepared UK facing highest risk of recession since 2007
• Warning shot to world economy as Singapore slumps, China exports drop
• Farm credit may exceed Rs 13 lakh crore in FY20: Nabard
• Crude oil demand growth to remain stable
• State Bank of India removes online fund transfer fee
• DPIIT to soon float draft national retail policy to seek stakeholders’ views
• FPIs remain net buyers in July so far, infuse Rs 3,551 cr in Indian markets
• Govt wants ONGC to sell golf course in Ahmedabad that has oil wells

Morning Business News :

• India e-commerce rules regressive: Walmart to US govt
• China is letting us down on buying from US farmers’
• Temasek keen to increase pace of investment in India
• Govt committed to disinvestment of Air India: Puri
• Care downgrades Cox and Kings rating to ‘default’ grade
• Auto industry to conduct study on EV migration
• Tata Steel plans to make European operations sustainable on its own
• MCA may expand powers of regional directors for M&As of higher categories
• India-US trade talks to restart Friday; compromise on tariffs likely
• Sebi to probe if IndiGo CEO downplayed promoters’ tiff: TV Report
• ED attaches fugitive jeweller Mehul Choksi’s assets in India, abroad
• Govt restarts process of divesting Pawan Hans
• Reliance Power recasts Rs 2,430 crore loan for Samalkot project
• Moglix raises $60 million from Tiger Global, others

• Delay in IBC resolution a concern: JSW Steel chief
• DHFL to submit resolution plan to lenders next week
• Kalyani Rafael secures $100-mn order for Barak-8 missile kits
• Anil Ambani plans $3.2 billion asset sales
• PE/VC investments cross $23 billion in 2019 first half, 27% higher: report
• SBI puts up for sale two NPA accounts to recover dues of ₹309 crore
• Railway officials meet stakeholders to finalise private ops of two trains
• GIC and ADIA put another $329 million in Hyderabad based Greenko
• IL&FS arm puts its shares in 2 wind energy assets for sale
• US India bilateral trade could reach USD 238 billion by 2025
• India attracts $64.4 billion FDI in FY19 despite global headwinds, says Union minister
• CERC eases norm to issue power trading licence to NTPC
• Rupee advances 14 paise to 68.44 against USD on Fed rate cut signals
• Housing affordability worsened in four years, shows RBI survey
• Adani eyes data storage with Rs 70,000-crore parks

Morning Business News:

• IndiGo founders’ feud: Gangwal flags serious governance lapses
• Nifty50 holds 100-DMA; may attempt a pullback
• Titan plunges 12%; 271 stocks hit 52-week lows
• Oyo founder in talks to buy back $1.5 billion shares

• Reliance Industries races past TCS to become most valued firm by m-cap
• Retail inflation likely hit 8-mnth high in June, but below 4%: Reuters poll
• Govt likely to give up direct controlling stakes in ONGC, IOC, NTPC, GAIL
• TCS Q1 net up 10.8% on strong growth in digital, BFSI businesses
• TVS Shriram Growth Fund-3 gets ₹1,100-crore corpus
• Gold plunges Rs 600 to Rs 34,870 on weak global cues, muted demand
• TVS Capital hits second close of ₹1,100 crore for third PE fund
• Temasek’s portfolio value falls as divestments grow
• ₹2.3 tn wiped off BSE Sensex over past 3 sessions as tax clarity elude market Financial Express
• Bajaj Finance shares surge over 6% as assets, customers rise, belying NBFC sector troubles
• Rupee gains 15 paise to 68.51 against dollar

Morning Business News:

• Tata settles $7.3 bn dues to complete mobile biz sale
• Govt infused over Rs 3.15 lakh crore into PSBs
• Airbnb had a direct economic impact of $150 mn in 2018

• Sterling & Wilson gets nod for Rs 4,500 cr IPO
• Public shareholding rule to bring additional Rs 57,000 crore to Tata Sons
• Sensex tanks 793 points; Nifty holds 11,550; India VIX up 7%
• Mindtree dips 10% on resignation of 3 co-founders as L&T takes control
• RIL ties up with Turkish co to make eco-friendly fabrics
• IndiGrid completes acquisition of two power transmissions assets from Sterlite Power
• Maruti shares tank over five percent; other auto scrips too fall
• OMCs may save ₹500 crore a year on withdrawal of merchant discount rate
• British Airways faces $229 million fine over data breach
• IOC, GAIL pact to take a stake in Adani’s Dhamra LNG project expires, no investment made: Dharmendra Pradhan
• India may raise Rs 68,000 crore selling bonds overseas this year
• Govt infused over Rs 3.15 lakh crore into PSBs between FY09 and FY19
• PNB shares drop over 11 percent after BPSL fraud case
• Rupee slips 16 paise to 68.58 against US dollar

Morning Business News:

• Gross tax to GDP ratio dips to 10.9% in FY’19: Survey
• Govt mulling ban on two and three-wheelers: Gadkari
• Banks see whopping 73% spike in frauds in FY19
• SFIO probe ordered against Jet Airways, its group cos
• Govt considering centralised internet monitoring
• HDFC wants NCLT to keep Jet’s HQ out of IBC process
• Brickwork Ratings cuts outlook on Edelweiss’ NCDs to negative
• ‘Plenty of blame to go around’: Urjit Patel admits RBI failed on bad loans
• 8% annual growth needed for GDP to touch $5 trn by FY25: Economic Survey
• US adds India along with China, EU to steel tariff dispute at WTO
• Centre cuts reliance on market borrowings to finance fiscal deficit
• EU objects to Hindalco’s plan to buy aluminum producer Aleris Corp
• Indo-US trade talks set to resume
• As India begins to grey, workplace policies may have to change
• ArcelorMittal’s ₹42,000-crore bid for Essar Steel gets NCLAT nod
• ‘Anticipated pre-buying of commercial vehicles prior to BS-VI norms unlikely’
• RSB Transmissions setting up ₹180-cr propeller shaft unit in Sri City
• CCI orders probe on Maruti Suzuki’s discounting practices
• Yes Bank acquires 9.57% stake in Eveready by invoking pledged shares
• State-run banks should be freed of constraints, says Raghuram Rajan

• MCA orders fraud probe against Jet Airways
• US drags India to WTO over duty hike on 28 American goods
• Economic Survey 2019: Finance Ministry makes progress in strategic sale of 28 CPSEs
• Economic Survey 2019: Steel production to hit 128.6 MT by 2021
• Budget Economic Survey 2019: Indian economy grows to $2.75 trillion despite slowing global economy

Morning Business News:

• India’s trade deficit widened with 25 nations in 3 yrs
• Cabinet approves award of 3 out of 6 airports to Adani
• Indian cos supplying to Huawei may face US sanctions
• Cabinet approves Code on Wages bill
• BSNL FY19 loss at over Rs 14,000 crore: Govt
• Icra cuts McLeod Russel’s rating to ‘default’ grade
• RBI to regulate housing finance firms, review assets
• Larsen and Toubro receives promoter’s tag in Mindtree with 60% stake
• CLP inks deal to buy 3 power assets from Kalpataru for Rs 3,275 cr
• Multiple triggers could boost Axis Bank’s return ratios, say analysts
• NCLAT reserves order on contempt plea filed against Reliance Infratel
• Indiabulls Fin to buyback NCDs, masala bonds worth Rs 2,705 cr in Sept
• Eris Lifesciences board approves buyback plan of up to Rs 100 cr
• Oil India to exit Russian oil block
• USFDA issues warning letter to Aurobindo Pharma
• Vedanta to spend $245 m to explore 10 OALP blocks
• Lupin gets USFDA nod for Cinacalcet tablets and intraocular solution
• Blackstone buys stake in L&T Business Park for around ₹700 crore

• RBI forms working group to review regulatory framework for core investment cos
• Drug regulator warns of hacking risk in Medtronic insulin pumps
• India urges Russia to consider energy consuming nations’ interest
• Service providers may now opt for GST composition scheme till July 31
• Jet suppliers go on merger spree trying to keep up with Boeing and Airbus output
• RBI forms working group to review regulatory framework for core investment companies
• Rupee edges 6 paise higher at 68.89 against US dollar
• Sensex, Nifty end marginally higher
• Govt neither divesting nor privatising ONGC: Pradhan
• MSP of kharif crops raised

Morning Business News:

• RBI powers wide ranging, comprehensive: FM
• UK finance minister warns of £90 bn no-deal Brexit ‘hit’
• Wilful defaults in India cross $21 bln in 2018-19
• Coal scam: Jindal Steel and Power refutes charges
• Supreme Court dismisses DoT plea against TDSAT order
• Bank frauds on a downward trajectory, says FM in LS
• PNB, 4 others fined by RBI for KYC norms violation
• Export-promotion forum, trade fair to boost farm cooperatives: Govt
• Wilful defaults cross $21 billion in 2018-19; SBI accounts for a third
• 5% import duty waiver on iron ore lumps a cost relief for steel mills
• Crisis-hit NBFCs seek special refinance window under Mudra scheme
• ED summons chief rating officers of ICRA and CARE in IL&FS probe
• Adani group’s power distribution company grapples with regulatory issues
• OIL, Vedanta bag most blocks under OALP II, III
• Essar Steel bags Rs 5,000 cr order from Posco
• NCC bags Rs 359 crore worth orders in June 2019
• Simens sets up protection automation lab for PowerGrid

• Alembic Pharma gets USFDA nod for Febuxostat tablets
• India closing in on using 100 million tonnes of steel
• Air India Assets plans ₹22,000 crore bond sale to refinance debt
• Jaypee Infratech: NCLAT tells lenders, allottees to appear on July 17
• L&T pays Mindtree shareholders for shares accepted in open offer
• Supreme Court dismisses DoT plea in RCom spectrum sale
• Oil prices slip as demand worries outweigh OPEC supply cuts
• Strides Pharma Puducherry unit receives warning letter from USFDA
• Nirmala Sitharaman says demonetisation had no effect on Indian economy
• Trade wars: US proposes tariffs on another $4 billion of EU goods
• ONGC discovers 230 mn tonnes of oil reserves: Pradhan
• IOC to hire foreign vessel as local carriers stay off
• Solar imports drop 40 per cent in January-March
• Water scarcity hits sugar mills in Tamil Nadu
• Vijay Mallya appears before UK court in extradition case

Morning Business News:

• Eight core sectors grow by 5.1 pc in May
• ‘Growth in housing prices moderated to 3.6 pc in Q4’
• JSW Energy terminates Rs 6.5K deal to buy JSPL’s plant
• Service tax arrears rise to Rs 1.66 lakh crore: CAG
• GST collection dips below Rs one lakh crore in June
• CPPIB-led InvIT to acquire Sadbhav Infra’s road assets
• Over 6.8 lakh Indian companies shut so far: Govt
• Regulatory assets provision to be removed in next power tariff policy
• Govt considering more powers for RBI to regulate shadow banking sector
• Policy to monetise fibre network of crisis-hit BSNL on the cards
• Govt working on new credit scheme for MSMEs to encourage job creation
• Govt flags concern over concentration, lack of competition in auditing

• SBI to raise $1 bn in perpetual debt to boost capital ratio, bolster loans
• Reliance Infra to lease out headquarters in Mumbai to reduce debt
• Torrent Power seeks shareholder nod to raise ₹1,500 cr via NCDs
• Maruti Suzuki reports 17% drop June sales
• Liberty Steel acquires ArcelorMittal assets in Europe for € 740 million
• NCDEX ups IPF compensation limit to ₹2.5 lakh
• Alembic Pharma gets USFDA nod for seizure treatment drug
• HCL Technologies announces close of acquisition of select IBM products
• Hyundai Motor India sales down 3.2% in June at 58,807 units
• Unclaimed bank deposits rise by 27% to₹14,578 crore in 2018
• Tata Motors total sales down 14% at 49,073 units in June
• Mahindra sales fall 6% to 42,547 units in June
• Ashok Leyland sales down 19% at 12,810 units in June
• Telcos to roll out blockchain-powered anti-spamming feature in a month: TRAI chief
• Modi sets up a high-powered committee of CMs for agricultural reform
• Govt considering giving more powers to RBI to regulate NBFCs: Nirmala Sitharaman
• Vijay Mallya to appeal against extradition order in UK High Court
• Airtel completes merger of Tata Teleservices’ consumer mobile business
• Jewellery industry to meet bankers over liquidity crunch
• Commerce ministry seeks stakeholder comments for next foreign trade policy
• Sensex soars 292 points on easing trade war concerns
• Steel enters bear zone on liquidity