Month: October 2019

Morning Business News:

• US economy grows 1.9% in Q3 despite trade war
• Indian, Chinese economies to accelerate in Q4: Report
• Govt may not cut Income tax rates due to fiscal stress
• Unitech loses property in Noida over Rs 1,203 cr dues
• Fitch places Airtel rating on negative watch on SC ruling
• Govt-RIL at loggerheads over the sale of gas
• India ranks third among Asian countries for environmental sustainability
• Canara Bank to issue shares to govt in lieu of Rs 6,571-cr capital infusion
• AIF industry eyes Rs 2.9-trillion opportunity in cash-strapped firms
• Standard Life sells about 5% stake in HDFC Life Insurance for Rs 5,752 cr
• CCI approves Abu Dhabi Future Energy’s equity stake purchase in Hero Future

• BHEL to showcase advanced ultra-supercritical technology for generating clean power
• International Paper APPM sells 55% stake to WCPM
• JK Tyre Q2 net profit jumps multifold to ₹168 crore
• Indoco Remedies posts net profit of Rs 7.81 cr in Q2
• SAIL may replace NMDC in JV with Australian firm for steel making
• Nestle to weigh $1 bn sales of local Chinese brands
• Abu Dhabi’s Masdar to buy a minority stake in Hero Future Energies
• HDFC acquires 9.89% stake in Bandhan Bank
• COAI’s plea to DoT to bail out older telcos unwarranted: Jio
• Blackstone buys a 37.5% stake in Aakash Educational Services
• ShareChat FY19 losses surge 12-fold at Rs414.7 crore
• KKR sells 5.46 million SBI Life shares for Rs533.7 crore
• Finance Commission weighing incentives for states for farm reforms
• Marine exports to China may cross $1-billion mark by year-end
• Air India seeks $819 million loans for 7 Boeing planes
• Apple India net profit falls 70% to Rs 262 cr in FY’19
• Firms bank on Commvault to leverage unstructured data sans security breaches
• IDBI Bank sells over 0.72 percent stake in NSE
• Rupee slips 6 paise against dollar ahead of US Fed policy outcome
• India will not sign any free-trade agreement in a rush: Goyal
• PMC Bank depositors continue protest seeking payback
• Govt’s Rs 15,000 cr soft loan scheme to sugar mills moving at snail’s pace: experts

Morning Business News:

• Oil industry issued an advisory to avoid Malaysian palm oil
• Household wealth more than doubles to $12.6 tn in 2019
• China seeks WTO okay for $2.4 bn tariffs on US goods
• Drug companies reach a settlement ahead of landmark US opioids trial
• Infosys responds to whistleblower ‘expose’
• No another vote on Brexit deal: UK speaker
• Broadband India Forum backs Jio, asks Trai to scrap IUC
• Govt likely to extend benefits to exporters under MEIS till 31 March
• India contributes 7% to global wealth rise, says Credit Suisse report
• Piramal Enterprises profit before tax rises 29% to Rs 733 crore in Q2
• Adani, GMR in the fray to commercially redevelop Chandigarh railway station
• Bharti Infratel posts 61% jump in net profit at Rs 964 crore in Q2FY20
• RBI steps in to raise deposit insurance cover for customers from Rs 100,000
• UltraTech Cement net up 63 percent on lower cost, higher realization
• Adani, Tata Power plants among those seeking coal linkages without curbs
• Hotels, travel aggregators start refunding GST

• Rane (Madras) Q2 net plunges 80% on sluggish demand
• Shree Cement July-September profit jumps five-fold to Rs 313 crore
• Adani commissions 50 MW wind energy plant
• Piramal Capital and Housing Finance net revenue grows 13% to ₹1,954 crores in Q2
• Centre may allow consumers to choose electricity supplier offering the lowest tariff
• Bharti Infratel, Indus Towers merger gets delayed; new panel to explore options
• Embassy Office Parks, Actis, others  bid for Mapletree’s tech park
• Centre’s EPFO dues surge to ₹9,115 crores amid fiscal pressure
• Reliance on short-term funding poses risk to vehicle finance companies: Moody’s
• Japan has huge export potential in pharma, gems and jewelry sectors: FIEO
• Govt’s stringent commitment to low inflation hurting farm sector: Nobel laureate Abhijit Banerjee
• Piyush Goyal says differences resolved with the US over trade deal
• India turns refined copper importer after 18 years: Care
• New foreign trade policy may have simpler export promotion schemes
• Whistleblower complaint placed before the audit committee: Infosys
• FPIs pour in Rs 5,072 cr into Indian capital markets in October so far
• Share of ready housing units rises to 12 percent in September quarter
• Pension beneficiaries’ bank accounts to be linked to Aadhaar

Morning Business News:

• Britain, the European Union reach Brexit deal
• Adani Enterprises sets up the new arm for metro rail biz
• DHFL reports Q2 net loss of Rs 242 crore
• Adani partners Adnoc, BASF for $4 bn chemical venture
• IL&FS completes wind power units sale to Orix
• J&J agrees to pay about $117 mn to settle mesh probe
• Govt asks PSBs to look for alternative resolution mechanism outside IBC
• Cipla acquires anti-infective drug Elores from Venus Remedies
• RBI’s subsidiary DICGC to revamp 50-year-old deposit insurance scheme
• Steel prices fell to three years low; industry awaits demand picks up
• TVS Motor profit rises 21% YoY in September quarter at Rs 255 crore
• India will soon become a gas trading hub, says Pradhan
• FMCG performance in rural India worst in 7 years: Nielsen

• Bhushan Power case: ED to move the apex court against NCLAT order
• PVR Q2 net profit soars 35 percent
• Zee Entertainment profit up 6.9%
• Consumption in rural India hits a 7-year low
• IMF chief Georgieva calls for reversing tariffs threatening global growth
• Piyush Goyal warns action against e-commerce companies if found guilty
• Indiabulls Housing Finance offers to pre-pay NCDs
• India rallies 51 nations to reject US memo on special treatment
• BREXIT deal sealed: India likely to benefit but Indian firms in the UK must watch
• China appeals to Washington for a quick end to trade war
• Govt probing Flipkart, Amazon for alleged discount sales
• Rupa bets on modern retail for Rs 2000 crore topline by FY22
• DMF funds for mineral-rich states grossly underutilized
• Rupee pares initial losses; settle 11 paise up at 71.43 against USD
• Average MF ticket size, exposure per borrower continue to go up
• Sensex rallies 453 points to close above 39,000-mark; Nifty tops 11,550
• Real estate market sentiment decline to 2016 note ban levels

Morning Business News:

• Overseas investors increase Asian bond-buying
• Economies should engage in the combined action plan: IMF
• The US warns China about untrackable ships carrying Iran oil
• The slowdown in credit linked to growing risk aversion: SBI
• RIL can hit $200b m-cap in 24 months, says BofA-ML
• Trump says won’t sign a trade deal until he meets with Xi
• PMC Bank assures to protect depositors interest
• India’s fuel demand dips to lowest in over two years in Sept: Govt data
• ICRA revises rating outlook for one-third of wind, solar portfolio
• India cannot sacrifice economic strength to comply with US sanctions: FM

• PNB Housing to raise up to Rs 10,000 cr by issuing bonds in tranches
• Declining domestic copper grades compel China to look overseas: Fitch
• Fundamentals of economy ‘very very strong’: CEA
• Lending to small units fell in Q1, says MSME report
• Bharat Electronics signs MoU with TEL for ammunition business
• JSW Paints to enter western markets by year-end
• India halved its poverty rate since the 1990s: World Bank
• ACC net up 45% on higher realization
• Reliance Jio alleges fraud by incumbent telcos to earn IUC revenue
• Mindtree catches up with Street’s expectations in Q2
• VTB Group acquires rights to sell 10.71% stake in ZEEL to recover the loan
• Road ministry issues draft norms to set up vehicle scrapping facility
• Sell our assets and start repayment to PMC: HDIL promoters ask probe agencies
• RBI extends restrictions over two Maharastra based cooperative banks
• Coal shortage has impacted aluminum production: Nalco
• Important for India to keep fiscal deficit in check: IMF chief economist Gita Gopinath
• DHFL crisis: Lenders hope Mutual Funds also join resolution plan soon
• Adani Wilmar eyes Rs 36,000 cr from consumer business in 5 years
• Rupee pares initial losses; settle 11 paise up at 71.43 against USD
• Sensex rises for 4th straight session, up 93 points
• Oil prices edge higher as OPEC hints at deeper output cuts

Morning Business News:

• Sep trade deficit narrows slightly to $10.86 billion
• Global growth in 2019 to be lowest in a decade: IMF
• EU, UK negotiators closing in on a draft Brexit deal
• 1/3 large firms not to switch to the new tax regime: Crisil
• Saudi Aramco interested in buying govt’s stake in BPCL
• Jain Irrigation cut to ‘selective default’ by S&P
• Wipro Q2 net profit jumps 35.1% YoY to Rs 2,552.6 crore
• September exports repeat decline, contract by 6.5% to reach the 3-month low
• Air India stake sale: Buyer to get only Rs 10,000 crore of airline debt
• Promoters sell 22% stake in Bajaj Consumer Care for Rs 700 crore

• Essar Steel CoC defends lower payout to Standard Chartered Bank
• IMF cuts India’s growth forecast to 6.1 percent
• Essel in talks to sell six road assets to NIIF
• MCX net doubles on higher volume, gold price rise
• CleverTap raises $35 million from Sequoia, Tiger Global
• Berger Paints to acquire 95.53 percent in waterproofing co STPL for Rs 167.5 cr
• Sajjan Jindal repays ₹1,200-cr loan to release pledged shares
• RBI governor assesses liquidity situation, calls for quicker transmission
• India retains the tag of the world’s fastest-growing economy alongside China: IMF
• Subhash Chandra  scrambles  to retain Zee reins amid VTB’s stake sale talks
• Karnataka Bank Q2 net down 5.3% to Rs106 cr as bad loans go up
• India’s services export up 10% in Aug at $18.24 billion; imports rise 16%
• China sees ‘no difference’ with the US on trade deal
• India on track to achieve 175 GW of renewable energy by 2022: RK Singh
• India does not have any trade dispute with the US, says Piyush Goyal
• Cabinet to consider splitting GAIL; pipeline business not to be sold before 2022
• Sensex spurts 292 points; auto, metal stocks drive rally
• Maruti reports Rs 154 crore investment in CSR initiatives last fiscal
• Total to buy Adani Gas stake via an open offer

Morning Business News:

• Govt mulls raising Rs 1 lakh threshold for invoking IBC
• YES Bank sells 6.56% stake in Fortis Healthcare
• Digital technologies to create $1 tn value by 2025: EY
• Total, RIL may not bid for BPCL; BP wants to see offer
• Adani Transmission acquires arm of REC Transmission
• HUL Q2 net up 21% YoY to Rs 1,848 cr; to give Rs 11/sh as interim dividend
• Moody’s downgrades Indiabulls to B2 on a fundraising challenge, governance
• RBI hikes cash withdrawal limit for PMC depositors to Rs 40,000
• Indian pharma companies spread businesses to avoid regulatory ire
• Assets worth Rs 3,830 cr seized, identified in PMC Bank case: ED
• Reliance to swap diesel for Venezuelan crude oil

• Ratan Tata to invest in EV start-up Tork Motors
• Consumer inflation inches up close to 4% in September on costlier food items
• Granules India to exit from China jt venture
• L&T puts two thermal power units into operation in MP, UP
• Lenders approve JSW Energy’s resolution plan for Ind-Barath’s 700 MW power plant
• Rural demand remains a concern for Wipro Consumer Care and Lighting
• New resolution professional of Videocon seeks EoIs for 13 companies under IBC
• BSE to suspend trading in Manpasand Beverages, Binani Industries, 14 others
• Indian economy structurally, fundamentally strong: MoS Finance
• India to see $118 billion investment in oil, gas sector in next few years, says Dharmendra Pradhan
• WTO gives final approval to US retaliation in Airbus case
• RBI imposes Rs 1 crore fine on Lakshmi Vilas Bank, Rs 75 lakh on Syndicate Bank for violating norms
• Traders’ body seeks govt audit into business models of Amazon, Flipkart
• Rupee drops 21 paise to 3-week low on fading US-China deal optimism
• Sensex pares gains, ends 87 points higher; Nifty closes at 11,330
• SBI re-enters top-10 most valued firms list; replaces Bajaj Finance

Morning Business News:

• World Bank cuts India’s growth projection to 6%
• Unexpected jolt for RIL’s Rs 5,050-cr IBC win
• ISRO spectrum demand may hit 5G rollout: Experts
• The cooperative sector needs self-regulation: Goyal
• Rs 25 lakh cr will be spent for rural infra: Modi
• $60 bn investment coming in gas infra: Pradhan
• Govt to cut stake below 51% yet retain control of CPSEs
• CCI to conduct a study on telecom sector amid changing market dynamics
• Consumer discounts unsustainable will go down post-October: Maruti Suzuki
• Essar leads India Inc deleveraging; pays off Rs 1.4 trillion: Prashant Ruia
• Eight of top 10 most-valued companies add Rs 80,943 cr in m-cap, RIL leads
• Future Retail to buy group co’s infrastructure assets in Rs 4,000-cr deal

• Insolvency Law Committee plans to meet on October 15 to discuss new reforms for IBC
• IHMCL, GSTN to sign MoU to link FASTag with GST e-way bill system on October 14
• We need to improve the tight credit situation: NITI-Aayog VC
• ED move to attach Bhushan Power asset vindicates our stand: JSW Steel
• Coal mine auctions: Ministry will allow mines with less than 3 bidders to go under the hammer
• The rural slowdown may weigh on HUL’s growth in the second quarter
• IRCTC to make stock market debut today
• Passenger vehicle exports expand 4% over April-September, Hyundai Motor leads
• DLF sells 376 completed flats worth ₹700 cr in Gurugram housing project
• Brexit divorce talks between UK and EU go down to the wire
• Mukesh Ambani, Sunil Mittal to skip India’s largest mobile expo amid IUC battle
• Bangladesh, Nepal likely ahead of India as growth in South Asia to slow down in 2019, says World Bank
• Remittances under LRS hit a new high in August; April-July amount outpaces FPI inflows
• RBI exercising forbearance on MSME lending as small business loans are in trouble, says Raghuram Rajan
• DMart profit rises 48% on better margins, higher revenue
• Industrial production slips by 1.1 percent in August
• No of crorepati taxpayers up 20 pc to 97,689 in AY 2018-19: CBDT data
• Daimler recalls hundreds of thousands of Mercedes-Benz diesel vehicles

Morning Business News:

• ECB minutes show deep rift over policy as Draghi era closes
• Ind-Ra pares India’s FY20 GDP forecast to 6.1%
• US, China resume high-level talks to end the trade war
• India jumps to 7th spot in Brand Finance Nation ranking
• IL&FS to sell 13 prime properties across three cities
• Revival plan under govt’s active consideration: BSNL
• Venture investments up 69% at $16.4 bn in Q2
• TCS Q2 net up 1.8% at Rs 8,042 cr; announces a special dividend of Rs 40/sh
• Telcos to get Rs 13,000-crore revenue boost for inter-connect user charges
• Indian miners reject govt plan to link coal index to foreign prices: Report
• 64% of farmers don’t prefer cash transfer for fertilizers: NITI Aayog study

• Vodafone Idea needs a fresh round of equity infusion by 2021, say lenders
• Moody’s cuts India’s growth forecast to 5.8 percent for FY20
• DBT in fertilizer sales saved govt $1.54 billion: MSC
• India’s engineering exports to China up 58% in Aug
• Welspun India expects to be debt-free in five years
• Gem, jewelry export dips 6% in September
• Tata Steel sales down 4% in Sept quarter
• Tata Motors global wholesales down 27% in Sept at 89,912 units
• OPEC chief says deeper oil cut an option amid weaker 2020 outlook
• Sebi comes out with a framework for issuance of depository receipts
• Half a dozen public sector banks cut lending rates by up to 0.25%
• Strengthening cooperation in trade facilitation to help reduce the trade gap with India: China
• World Bank says 2019 Asia-Pacific growth to slow to 5.8% on trade tensions
• ‘FDI rule violation’: Flipkart, Amazon top executives meet DPIIT officials
• Online food delivery may touch $12.53 billion by 2023
• Haldiram emerges sole bidder to buy insolvency-bound Kwality for Rs 130 crore
• Piramal dispels rumors about financial business, files complaint with Sebi
• Miners reject national coal index proposal
• Larsen & Toubro Infotech faces racial bias suit in the US

 

Morning Business News :

• Daiichi-Ranbaxy: HC asks Soami to deposit Rs 6,000 cr
• White House eyes ways to limit capital flows to China
• World suffering ‘synchronized slowdown’: New IMF chief
• Amazon, Flipkart sales generate Rs 19,000 cr in 6 days
• NBFCs may see another quarter of moderating profits
• The US using trade deals to shield tech giants from foreign regulations
• IL&FS case: CVC intervenes in Sebi’s probe of credit rating agencies
• Sebi may liberalize norms for issuing offshore derivative instruments
• State Bank of India expects a double-digit uptick in corporate loans
• ECBs for working capital needs rise 10-fold in H1 FY20

• Coking coal shipments rise 15% at 12 ports in Apr-Sep
• Mineral exploration to help improve KIOCL’s revenue
• GMR Energy in talks with JSW Energy for divesting stake in GMR Kamalanga
• Minda to acquire Germany based lighting company Delvis Gmbh in multi-million Euro deal
• HKEX abandons £29.6 billion bid for LSE
• RBI not looking at liquidity facility for NBFCs: Dy Guv Vishwanathan
• Multiples PE in talks to lead investment round in Kissht
• Fintech start-up Shubh Loans gets NBFC license from RBI
• Deutsche Bank plans about half of 18,000 job cuts outside Germany
• Supreme Court declines Oil Ministry request to stay sharing of documents on Reliance penalty
• The US, Japan sign trade agreements on agriculture and digital export
• Good possibility of a trade deal with China says, Donald Trump
• Mobile tower installation at 60% of the annual target due to permission delays: COAI
• The US, Japan sign trade agreements on agriculture and digital export
• Foodgrain output at 140.5 million tonnes in FY20 on monsoon boost
• Maruti cuts production for 8th straight month in September