Morning Business News Round Up_Aug 16, 2019

Morning Business News:

  • US 30-year yields drop to a fresh record low below 2%
  • RBI’s dollar purchases at four month-low in June
  • Hong Kong unveils $2.4-bn economic support package
  • WTO to rule on India sugar export subsidies
  • ONGC investing Rs 83,000 cr in 25 project
  • WTO quarterly trade growth indicator drops from May
  • Reliance Industries may buy more cable companies to aid JioFiber plans
  • Life insurers register 6% growth in new premium income in July: Irdai
  • Reliance Capital Q1 profit sees a 4-fold jump to Rs 1,218 cr on higher income
  • Removing angel tax notices will help start-ups in growth: Experts
  • Oil falls 3% to below $58 a barrel as recession worries weigh on prices
  • India’s seafood exports to EU to be hit after Vietnam-EU free trade pact

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  • SEZ Board puts off decision on GAIL’s exit from Kerala project; wants dues recovered
  • Saudi Arabia back as India’s top oil supplier after Reliance deal
  • Marico to complete the acquisition of Beardo by this fiscal-end
  • Axis Bank ex-chief Dharmesh Mehta and investors buy IDFC Securities
  • Air India puts more than 60 real estate assets under the hammer
  • Key committees in IL&FS did not meet for years, reveals RBI probe
  • Five investors bought nearly two-thirds of the QIP offering in Yes Bank
  • COAI urges Trai to create consumer awareness on a new framework for pesky calls
  • Protest-hit Hong Kong unveils $2.4-billion economic support package
  • NCLAT upholds insolvency proceedings against Sahara Q Shop
  • IFFCO cuts complex fertilizers rate by Rs 50 per bag; DAP to cost Rs 1,250/bag now
  • IDBI Bank net loss widens to Rs 3,800 crore as provisions weigh
  • Inflation slows as the economy falters
  • Yield inversion coming to Asia as growth woes spread
  • Tata Motors to shut Jamshedpur plant for the third time this month
  • Passenger vehicle output down 13.18 pc in Apr-Jul as major cos cut production

Morning Business News Round Up_Aug 14, 2019

Morning Business News:

  • US delays tariffs on some Chinese goods drops others
  • Govt working on a package to check economic slowdown
  • Govt notifies partial credit guarantee scheme for PSBs
  • Retail inflation remains benign at 3.15% in July
  • MCA panel moots CSR expenditure as tax-deductible
  • HPCL finally recognizes ONGC as its promoter
  • RBI to review rules governing housing finance cos
  • Govt issues guidelines for Rs 1 trillion partial guarantee scheme for NBFCs
  • Consumption-driven growth behind ‘serious slowdown’, warns SBI MF
  • Slide-in iron ore prices to hurt exports from India, further slump seen
  • GAIL in two minds over govt’s plan to split gas pipeline business
  • Coal India net profit rises 22.28% to Rs 4,629.87 cr in June quarter

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  • Apollo Hospitals profit jumps 69 percent to Rs 57 cr in Q1
  • Cement makers’ body, SCCL hold talks on increasing coal offtake
  • WTO likely to set up a panel to decide on India’s sugar sops
  • RCAP in talks to sell 11 percent stake in mutual fund unit
  • NMDC Q1 profit up 21% at₹1,179 crore
  • IOCL to invest Rs 2 lakh-cr in next 5-7 years
  • Invesco Oppenheimer reiterates commitment to Zee stake deal
  • BSE to launch a liquidity enhancement plan in equity derivative segment
  • ONGC Q1 net profit dips 3.9% on lower oil price, production
  • Tata Capital Fin expects 20% growth despite the stress in NBFCs
  • EPFO looking for early redemption of DHFL bonds worth ₹700 crore
  • ADB signs pact to invest $23 million in NCD of GRIL
  • India, Russia to boost ties to achieve $30 billion bilateral trade by 2025
  • Banks report fall in NPA levels; seek steps to address stress in NBFCs: Survey
  • Singapore slashes 2019 economic growth forecast stoking recession fears
  • Rupee hits a 6-mth low of 71.40 against USD; dives 62 paise on global turmoil
  • Amazon in advanced talks to buy 8-10 percent stake in Future Retail
  • Sensex plummets 624 points on global sell-off; RIL soars 10 pc
  • Govt-constituted panel suggests making CSR non-compliance civil offense

Morning Business News Round Up_Aug 13, 2019

Morning Business News:

  • Reliance, BP joint venture to invest in KG basin
  • Etihad says not feasible to reinvest in Jet Airways
  • Fullerton India Credit aims to raise $250-300 million via offshore loan
  • Sun Pharma’s Q1 nos: One-off boost likely from US supplies
  • IBM, Tata join US tech platform’s governing council
  • New U.S. rule could disqualify half of the visa applicants
  • Syndicate Bank expects Rs 4,000 cr from NPA recovery
  • Saudi Aramco interest in Reliance Industries upstages PSU mega refinery
  • Anil Agarwal pulls out of the race for acquiring grounded Jet Airways
  • Reliance Jio ties up with Microsoft for digital transformation
  • India’s steel output edges past world in H1 of CY2019 lags China
  • Govt set to dilute 3.5-year-old air pollution norms for thermal plants

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  • CARE Rating revises the outlook on 11 solar firms to negative
  • Coastal shippers demand more facilities at ports
  • HIL posts lower Q1 profit of Rs 40 cr
  • Visaka Industries profit slips to Rs 23 crore in Q1
  • Cox & Kings unable to declare Q1 results
  • Eros International Q1 net falls 55% to ₹27.05-cr
  • CCI slaps Rs14 crore fine on Jaiprakash Associates
  • Tech Mahindra to pay 490 crores for 65% stake in Mad*Pow
  • CBS, Viacom in final stages of an all-stock merger
  • Natco gets six USFDA observations for its Mekaguda plant
  • Jaguar Land Rover sales increase 5% in July at 37,945 units
  • Economic slowdown: Govt plans urgent steps to boost exports
  • SME-focused Ugro Capital eyes over Rs 1,000 crore loan book
  • China promises to address India’s concern over the ballooning trade deficit
  • GSP roll-back: Exports of goods to the US grew 32% in June
  • Gold imports up 35.5 percent during Apr-Jun
  • Syndicate Bank expects Rs 4,000 cr from NPA recovery in FY20
  • Reliance to be zero-net debt company in 18 months: Ambani
  • Reliance Retail may get the global partner

Morning Business News Round Up_Aug 9, 2019

Morning Business News:

  • Govt likely to withdraw higher surcharge for FPIs
  • NCLT clears consolidation of Videocon units’ insolvency
  • The capital infusion helped PSBs cut losses: Ind-Ra
  • Mahindra considers second US plant in Michigan
  • First-quarter e-auction premiums for Coal India up 66%
  • Reliance Capital joint auditors reject PWC allegations
  • India Inc seeks Rs 1L cr stimulus to revive growth
  • India to impose tariff barriers on imported solar and wind equipment
  • Gem, jewelry exports fall 11.24% on the US, China trade war and poor demand
  • Sebi asks mutual funds to shift all investments to listed securities
  • Adani plans to invest Rs 10,000 crore in city gas distribution networks
  • DHFL says it may not be able to fulfill its immediate debt payments
  • Close to crossing $2,000 per capita income mark, India offers great opportunity’
  • Tata Chemicals Q1 profit rises 19%
  • IRB Infra, GIC to jointly bid for all future road projects’
  • Suzlon offers to repay ₹8,500 cr to settle the stressed debt

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  • NBCC net down 39 percent in Q1
  • Godrej Properties Q1 net profit jumps 162 percent, at Rs 89.87 cr
  • UltraTech Cement Q1 net profit up 91.4% to₹1,208.03 crore
  • Coffee Day Enterprise appoints EY to scrutinize accounts
  • India’s domestic air passenger traffic up 7.9% in June: IATA
  • Adani Enterprises Q1 profit surges 611% to₹570 crore
  • Tata Capital offers NCDs with annual interest up to 8.85%
  • Yes Bank launches ₹2,000 crore QIP
  • OBC, IDBI Bank cut MCLR up to 15 basis points
  • Ministry names 4 domestic auditors to restate IL&FS books
  • No angel tax inquiry into startups recognized by DPIIT or not without approval, says CBDT
  • China imports from the US fall 19% in July amid trade war
  • Thermax to shut manufacturing facility, exit China
  • NCLAT expresses displeasure over delay in IL&FS resolution
  • Sensex rallies 637 points on tax relief buzz; Nifty reclaims 11,000-mark
  • Emami Q1 profit up 48 percent to Rs 39 crore
  • Taj Hotel chain to sell budget hotels

Morning Business News Round Up_Aug 8, 2019

Morning Business News:

  • Sebi enhances disclosure norms on encumbered shares
  • World economy stares at recession amid trade war fears
  • Auto industry seeks stimulus package from the government
  • Tata Steel Q1 profit plunges 65% to Rs 683 crore
  • Maruti cuts production by 25 percent in July
  • RBI moves unlikely to ease the pain for NBFCs
  • Reliance Industries set to bring Tiffany stores to India
  • RBI cuts repo rate by 35 bps to 5.40%, reduces FY20 growth forecast to 6.9%
  • NBFCs to receive more liquidity support as RBI raises exposure limit
  • Sebi directs commodity exchanges to constitute product advisory panel
  • Cipla increases stake in consumer health biz to 100%, looks for tie-ups
  • Profit margins of sugar mills likely to rise by 5-6% in one year
  • Aurobindo Q1 profit up 39.5% at Rs 636 crore on strong revenue growth
  • Adani Gas standalone net up 44%
  • Siemens net up 21% at Rs 250 cr in June quarter
  • HPCL net tumbles on sharp fall in gross refining margin
  • Ramco Cements’ Q1 net zooms to Rs 192 crore

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  • Auto industry to FM: Bring down GST, raise depreciation rate
  • Balaji Infra submits an offer to settle dues of Dighi Port lenders
  • The US slaps duties on $4.4 billion of China cabinet imports
  • RBI’s ‘unconventional’ rate cut to support growth, say experts
  • World economy edges closer to recession as trade woes spread
  • RBI cuts risk weight on consumer credit to 100%
  • Sterlite Power sees $35 billion energy storage opportunity
  • Essar case: New amendments in IBC come under SC scanner
  • Real estate industry expects banks to pass on rate cut benefits
  • HCL Tech Q1 net profit falls 8.2% to Rs 2,230 crore
  • China wants to double down on gold reserves as trade war runs hot
  • RBI lowers GDP growth forecast to 6.9% for FY20 on demand, investment slowdown
  • SAT upholds Rs 2 crore fine on NDTV for disclosure lapses
  • Sensex slumps 286 points as RBI cuts growth forecast; rate-sensitive stocks tank
  • Rupee skids for 5th day; drops 8 paise to 70.89 vs USD
  • SBI lowers lending rates by 15 bps from August 10
  • RBI to allow round-the-clock fund transfers under NEFT from December

Morning Business News Round Up_Aug 5, 2019

Morning Business News:

  • Saudi Arabia cuts September crude oil prices to Asia
  • Iran seizes another foreign oil tanker in the Gulf
  • Green certificate sales down 61% to 6.29 lakh in July
  • Slowdown woes revealed in India Inc’s changing tone

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  • CDPQ, Sekura Roads in the race for GR Infra’s projects
  • Deloitte quits as auditor of crisis-hit DHFL
  • Embassy may call off stake-purchase deal with Indiabulls Real Estate
  • Client-specific risks a trip factor for IT companies says, analyst
  • CCI dismisses abuse of dominance charge against ONGC
  • The US accuses China of ‘predatory economics’, destabilizing Indo-Pacific
  • DLF transfers Noida mall, land to JV firm; reduces dues to Rs 5,500 cr
  • ₹25,000-cr tenders canceled or modified to promote ‘Make in India’ products
  • Slowdown cyclical, growth will pick up in next few years: Bimal Jalan
  • India needs to grow at 9 percent to achieve PM’s target of $5-trillion economy: EY
  • Sun Pharma shuts two clinical pharmacology units in Vadodara
  • With NBFCs struggling, India’s auto sector gets stung badly
  • Financial surplus of Indian households falling since 2017-18
  • Reliance Industries to acquire a stake in Shopsense Retail for ₹295 crore
  • Sterlite Power in talks to sell stake valued at₹3,000 crore
  • VC firms may garner over $4 billion from exits this year
  • Everstone Capital puts up to ₹700 cr Burger King India IPO on its menu
  • Nirmala Sitharaman to meet stakeholders for actions proposed by U.K. Sinha Committee to boost MSMEs
  • Liquidity crunch among shadow banks turned the single biggest factor in auto sales collapse
  • Lenders extend Jet Airways sale deadline by a week to August 10
  • Govt relaxes norms for re-insurers to set up shops at IFSC
  • RBI imposes fine on PNB for the delay in reporting fraud in Kingfisher Airlines account
  • RBI bans NBFCs from charging loan foreclosure penalties
  • Forex reserves fall by USD 727 million to USD 429.6 billion
  • Maruti Suzuki cuts temporary jobs as sales plunge
  • Natural rubber prices to remain under pressure

Morning Business News Round Up_Aug 2, 2019

Morning Business News:

  • GST Collection surpasses Rs one lakh crore in July
  • PV volumes to come under further pressure in August
  • Honda Cars sales dip 49% to 10,250 units in July
  • Airtel reports Q1 loss of Rs 2,866 crore
  • Economic woes not as bad as 1991: Ex-RBI dy guv
  • Tata Motors cuts Tigor EV price by up to Rs 80,000
  • L&T gets shareholders’ nod to raise Rs 4,000 crore via securities
  • Auto sales in July fall for 9th consecutive month due to poor demand
  • Govt to issue overseas sovereign bonds in tranches: FinMin official
  • CRISIL revises down India’s GDP growth estimate to 6.9% for FY20
  • India, world’s No. 2 coal buyer, plans to cut imports by a third in 5 years
  • MFs’ Essel group exposure likely to fall by 30-50% after Zee stake saleImage result for amazon
  • Jeff Bezos sells Amazon shares worth $ 1.8-bn, reduces the stake to $110 bn
  • Life insurance industry likely to see 14-15% growth: CARE
  • Banks free to have separate caps for lending to power, renewables sectors: RBI to Centre
  • DoT may get less than 50% of₹92,000 cr AGR dues from telcos
  • Voltas eyes ₹50-cr business from Kerala this Onam
  • Suzuki Motorcycle India sales up 18% in July
  • Ashok Leyland July sales down 28% at 10,927 units
  • The US to slap 10% tariff on $300 billion more in Chinese goods: Donald Trump
  • RBI allows Bank of China to offer regular banking services in India
  • Normal monsoon likely in August, September: IMD
  • Marico Q1 net profit up 21.6% to ₹315 crore
  • SEBI sends a letter to MFs detailing 23 lapses in FY 17
  • Shapoorji Pallonji’s solar EPC business announces ₹3,125 crore public offer
  • PNB plans aggressive recoveries to contain gross NPA below 12%
  • NCLAT sets aside order directing return of land to Jaypee Infratech
  • in inks lease pact with GMR Hyderabad Airport City
  • Tata Power consolidated Q1 net falls 87 pct year-on-year
  • TVS Motor July sales down 13 percent at 2,79,465 units
  • Sensex tanks over 450 points, Nifty finishes below 11,000-mark
  • Finance Minister Sitharaman to meet CEOs of PSU banks on Friday
  • Coal India to spend Rs 700 cr to procure 40 rakes

Morning Business News Round Up_Aug 1, 2019

Morning Business News:

  • Eight core sectors’ output rises 0.2 percent YoY: GovtImage result for US Fed
  • US Fed lowers interest rates for the first time since 2008, signals more cuts
  • HDFC lowers lending rates by 10 basis points
  • Automakers cut production by 11% in Q1: Report
  • Govt receipts only 14% of full-year target in 1st qtr
  • Government raises subsidy for non-urea fertilizers
  • Vedanta contributes 0.40% to India GDP, says the study
  • Core sector growth at 50-month low in June; 4 out of 8 sectors contract
  • Jewelry exporters may be covered under credit insurance benefit
  • Fiscal deficit touches Rs 4.32 trillion in Q1, 61.4% of the budget estimate
  • RBI allows domestic banks to sell NPAs abroad as a one-time settlement
  • FPIs pull out over Rs 11,000 crore in July, highest in nine months
  • In 3 months, the fiscal deficit exceeds 61% of the full-year target
  • Govt, exporters discuss a strategy to increase exports to the US, China
  • Tamilnadu Petroproducts profit rises 90% in Q1
  • Ashok Leyland’s Q1 profit plunges 45% to ₹230 cr
  • Blue Dart April-June quarter profit drops 73%
  • ICRA’s rating cut stifles Yes Bank’s ability to raise fresh capital
  • The government gives more time to direct tax code panel to finalize the report
  • Cabinet approves the bill to regulate chit funds industry
  • Eicher Motors Q1 net dips 22% to ₹452 crore
  • Tata Global Beverages Q1 net profit rises 10% to ₹141.68 crore
  • Cabinet approves the bill to prohibit all unregulated deposit schemes
  • India’s exports need to contribute $1 trillion in an economy: Piyush Goyal
  • US ‘working hard’ with India to help grow its economy: Mike Pompeo
  • Trade war: China blames US’ flip-flop as talks end without breakthrough
  • Cafe Coffee Day term loans put on watch by Icra
  • Rupee settles 6 paise higher against dollar ahead of Fed meet outcome
  • IOC net drops 47 percent on lower refinery margins
  • Allahabad Bank okays raising Rs 2,000 cr equity capital via QIP
  • India 10-yr bond yield drops as FPIs shift from equities to debt