Month: November 2019

Morning Business News:

• Pay AGR dues as per SC order: DoT to telcos
• CPI hits a 16-month high, breaches RBI’s target
• CoC extends RCom’s asset bid deadline by 10 days
• Govt to institutionalize social audits in rural schemes
• KEC International bags new orders of Rs 2,255 cr
• US tech body opposes India’s bid for data localization
• India’s growth should bottom out in Dec qtr: CLSA
• Voda boss says Indian JV remark distorted, apologizes to govt
• Major ports record a muted performance on fall in coal, fertilizer cargo
• Indian plastic exports to Pakistan decline by 91% on soured relations
• MFs’ exposure to NBFCs down 30% in 15 months since IL&FS crisis broke out
• Sebi puts in place disclosure framework for municipal debt securities
• HAL profit up 116% to Rs 621 cr in Sep quarter; revenue grows 32%
• Liquidation of Voda-Idea may mean $1.7-trillion hit for shareholders
• ITC to pick up 33.42% stake in vending machine maker Delectable

• SAT to hear RIL appeal against SEBI in ₹2,000 crore Reliance Petroleum case
• RBI sees sharp fall in consumption
• CG Power’s foreign subsidiaries face financial crunch, legal issues
• NBCC, Suraksha Realty asked to submit fresh bids to buy Jaypee Infratech
• Railways record lowest freight loading since 2010
• ABB India pulls off strong profit growth but order flow concerns remain
• SpiceJet Ltd reports ₹461 crores September quarter loss
• BSNL to raise ₹15000 crore through sovereign bonds next month
• US-based Dole Food Co to enter India through a tie-up with Future Group
• High levies, low tariffs double whammy for the telecom industry
• Yes Bank faces fresh audit into complaints by whistleblower
• Vedanta SEZ in Odisha seeks permission to locally procure petroleum coke
• NBCC, Suraksha Realty asked to submit fresh bids to acquire Jaypee Infratech
• Red-flagging exposures: Banks may classify DHFL as a fraud account
• Adani Power second-quarter profit falls 99% on poor sales
• Rupee tumbles 62 paise, could remain weak
• Sensex tumbles 229 points as weak macro data, rupee woes weigh
• NABARD seeks credit disbursal from banks on a monthly basis
• RBI becomes the net buyer of dollars in Sept, bought USD 5.61 billion
• Dividend tax burden may shift to investors

Morning Business News:

• India invites foreign firms to invest in the oil sector
• Another whistleblower guns at Infosys CEO Parekh
• India’s July-Sep quarter GDP numbers crucial: Report
• Tata Group is looking for a partner to help fix the Jaguar business
• IL&FS gets banks’ nod for sale of education biz
• Tata Motors global wholesales dip 19% in October
• JSW Steel output falls 13 percent to 12.54 LT in Oct
• Stability, regulatory reforms to boost economic growth: BSE MD Chauhan
• India-ASEAN bilateral trade may double by 2025 to $300 billion: Study
• Govt to consider TCS, Infosys offers to set up infotech SEZs on Nov 15
• Aurobindo consolidated Q2 profit before tax up 5.9% at Rs 904 crore
• UltraTech to sell stake in Bangladesh-based units to HeidelbergCement
• India can gain from US-China trade war: RBI study
• SBI’s Economic Research team cuts India’s FY20 GDP forecast to 5%
• Tata Motors’ India operations face acute challenges: Moody’s
• MMTC extends tender offer to sell 6% stake in ICEX till November

• States should scrap APMCs and move on to eNAM: FM
• Apple tops India premium segment with 51.3% market share in Q3, says IDC
• Moody’s downgrades Macrotech Developers (Lodha ) to Caa1
• India, other BRICS members to strengthen cooperation in the digital economy: Modi
• Embassy REIT to raise debt, equity to fund acquisitions
• Airbnb counts India among its top three fastest-growing EMs
• India to cross 200 GW renewable energy capacity mark by 2022: Power Minister RK Singh
• Lodha group arranges $325 million funds to repay bonds maturing in March
• Ahead of the meet with USTR, Piyush Goyal flags ‘predatory pricing’ in e-commerce
• Airtel submit bids for RCom spectrum; Jio seeks deadline extension by 10 days
• Coal India Q2 net profit up 14 pc to Rs 3,522 crore
• Solar installations drop 35 percent in the first half
• Oil tanker to become Asia’s refueling hub
• Vodafone’s future in India in doubt after latest setback
• Govt within its rights to hold spectrum auction: COAI
• Jindal Stainless reports Q2 profit at Rs 52 crore

Morning Business News:

• Single-window clearance likely for private coal blocks
• India may not have shut the door on RCEP
• Govt’s Rs 25,000cr realty booster inadequate: ICRA
• AGR ruling may hit any company with telecom license
• 22,000 employees opt for BSNL VRS plan in 2 days
• Sebi allows MFs to create a segregated portfolio for unrated debt
• Raymond to demerge core lifestyle business
• Govt not planning to help banks rescue shadow lender DHFL: Report
• Aramco’s offer of $75 bn dividends can stretch finances during the oil slump
• Sun Pharma posts Rs 1,433-crore pre-tax profit in Q2, meets estimates
• Tea Board open to holding talks with ITC to sort out trademark issue
• Irdai directs Reliance Health Insurance to stop selling new policies
• Ship-building industry to get a great boost: Union Minister

• Kesoram Industries awaits NCLT nod for demerging tires business
• Cairn Oil & Gas gets the 10-year extension for Ravva field
• Modi to head for BRICS meet with big biz team
• Powerplus Traders bags Jagannathpur B coal mine
• Solar Industries’ profit jumps 61% on tax write-back
• China, the US to lift some tariff hikes as trade talks advance
• Sebi asks MFs to report any changes in terms of investments to rating agencies
• CBIC’s DIN system to come into effect on November 8
• DLF Q2 profit rises 19% to ₹445 crore
• 73% urban Indians can afford a new home, says the survey
• NBFCs, HFCs may be brought under bankruptcy code
• Global debt surges to record high $188 to IMF chief
• India may impose an anti-subsidy duty on imports of copper wire rods from four nations
• Corporation Bank to raise up to Rs 1,000 crore by issuing Basel III compliant bonds
• PLFs of many power plants to fall to 40% by 2022: Report
• India reiterates call for lifting US sanctions against Cuba
• Rupee recovers losses to end flat on US-China trade deal hopes
• Sensex jumps 184 points to hit new record high; Nifty reclaims 12,000 mark
• Gold prices up to Rs 70 on rupee depreciation
• ICICI Bank opens 57 branches in AP, Telangana this fiscal
• Nirmala Sitharaman reviews the state of the economy at FSDC meeting

 

Morning Business News:

• Govt working with RBI to revive realty sector: FM
• China wants the US to drop tariffs on $360 bn of imports
• BPCL stake sale may affect govt-oil cos linkages: IndRa
• Only 15% of cases under IBC resolved: Report
• MSCI may ax debt-laden companies from its indices
• NCLT okays Max India -Max healthcare assets merger
• PNB expects 10-12% operating profit growth in H2
• Govt considering one-time settlement option in drug overcharging cases
• Bourses should refrain from using their oligopolistic position: Sebi chief
• China presses the US to drop tariffs on $360 bn of imports before the trade deal
• Jindal Steel posts consolidated net loss of Rs 399.31 cr in Sep quarter
• NSE seeks cut in tax on capital market transactions to boost investment
• Sebi issues a detailed circular on Aadhaar e-KYC for domestic investors

• Metals sector lauds India’s withdrawal from RCEP
• Excess rain has damaged Kharif crops: Skymet
• Sugar production estimated to be 260 lakh tonnes: ISMA
• Apollo Tyre’s net dives 43% on the slowdown
• REC Q2 net down 26% to ₹ 1,306.76 crore
• Torrent Power net rises 83% to Rs 755 cr in Sept qtr
• Worst may be over for global economy amid signs of stabilization
• Holdings of gold-backed ETFs hit an all-time high: WGC
• Tech Mahindra acquires BORN Group for $95 million
• Sebi revives eKYC procedure for mutual fund investors
• Suzuki’s Apr-Sep profit plunges 42% as sales slide in India, Japan
• Tech revolution: Blockchain can transform trading, says Sebi chief
• PNB clocks Q2 profit of Rs 507 cr as provision eases
• Bankers expect the resolution to DHFL issue by December end
• Supreme Court stalls Tata Housing Project in Chandigarh
• Crude oil futures fall on low demand
• RCEP door is closed, but not forever: Govt
• IndiGo, Qatar Airways to announce strategic deal
• Rupee rises 8 paise against US dollar on forex inflows
• The withdrawal limit for PMC Bank depositors raised to Rs 50,000

 

Morning Business News:

• Bank loans to moderate to a 25-year low in FY’20: Report
• RBI cracks the whip on poorly-performing private bank CEOs
• Sebi issues clarifications on PIT Regulations
• 1L jobs at risk as vendors seek Rs 20,000 cr from BSNL
• NBFCs need better tools to detect liquidity strains: RBI
• Trai defers implementation of new MNP rules indefinitely
• Bajaj Finance fixes QIP floor price at Rs 4,019.78
• RBI mandates 67% variable pay component for the brass of private, foreign banks
• Acquisition of power plants to boost JSW Energy’s growth prospects
• Trai extends Nov 11 mobile number portability deadline due to tech issues
• Rs 800 bn stuck in stalled realty projects; NBFC concerns overdone: Citi
• NBFCs will have to maintain liquidity coverage ratio, says RBI

• Bandhan Bank board okays an increase in foreign investment to 49%
• Infosys: No prima facie evidence to support allegations of whistleblower group
• India, Japan review situation in Indo-Pacific
• SEBI frames new diktat for credit rating agencies
• Infosys: No prima facie evidence to support allegations of whistleblower group
• Sundram Fasteners’ Q2 profit falls 36%
• ₹92,000 cr telecom fine may have a ripple effect on the digital economy
• RBI extends rollout date for LCR norms to Dec next year
• Tata Power, Rockefeller Foundation plan 10,000 microgrids across rural India
• The current economic downturn seems self-inflicted through GST, note ban: Report
• Uber India allots shares worth ₹2,540 crores to Dutch group entity
• Tata Steel arm to sell entire stake in NSV for Rs 36 crore
• Vendors mull insolvency action against BSNL, MTNL for pending payments
• MSMEs attract 85% industry credit in September; monthly growth turns positive for 1st time in FY20
• Indian companies evade large part of CSR mandate; half of them don’t even report
• India’s October gold imports drop 33 pc on weak festive demand: source
• Housing sales down 9 percent, new units drop 24 percent
• Cadila Healthcare’s Moraiya facility gets FDA warning letter
• Sensex hits a record peak of 40,435; Nifty nears 12,000
• Burger King India looks to raise Rs 400 crore from IPO

Morning Business News:

• India to make South Asia the global growth center: IMF
• ‘Over 3,400 branches of PSBs closed or merged in 5 yrs’
• Stopped payment to creditors after court orders: DHFL
• Yes Bank’s asset-quality woes to continue: Report
• Maruti ‘cautiously optimistic’ on future sales
• Thomas Cook India not part of the global sale to Fosun
• Saudis may reduce Aramco IPO size to $1.6 trillion
• FEMA norms may raise investment bar on foreign-owned mutual funds
• Despite the unavailability of MAT credit, 60% of firms opt for the lower tax regime
• The minimum wage for workers likely to increase in the next three months
• MCA floats a new testing proposal to filter frivolous independent directors
• McNally Bharat pins hope at strategic investors and partners for revival
• Experts raise alarm bells on talent flight amid crackdown on audit firms

• US Treasury Secretary holds talks with RBI Governor Shaktikanta Das over the economy
• NHAI terminates concession pacts of 2 IRB Infrastructure road projects
• Siemens signs MoU with NTPC, TERI on decarbonization, energy transition
• Unichem Labs Q2 net loss narrows to Rs 22.2 crore
• SEBI directive: Banks start disclosing divergence in asset classification and provisioning
• Traders’ body CAIT to launch a nation-wide movement against Amazon, Flipkart
• Mutual fund houses approach Sebi with 125 new schemes in 2019 so far
• Two-phased strategic disinvestment for BPCL likely
• Prasad directs BSNL, MTNL to proceed quickly on VRS, asset monetization plans
• Fundraising by PE, VC firms in January-September at a five-year high
• Finance Ministry plans next tranches of CPSE, Bharat 22 ETFs in the fourth quarter
• Yes Bank looking for $1.2 billion funding by December, give board seat to new investors
• TCS, Wipro in the fray to manage Irdai’s Business Analytics Project
• RERA officials to approach housing ministry for clarity vis-a-vis IBC
• Power gencos’ outstanding dues on discoms rise 37 pc to Rs 70,000 cr in Sept
• Germany to invest 1 billion euros for green urban mobility in India
• RBI revamps departments for effective supervision, regulation of the banking sector

Morning Business News:

• YES Bank gets a binding offer for $1.2 bn
• India loses major WTO dispute to the US
• Sebi tightens rules for bad loan disclosures by banks
• Not leaving India, will back JV: Vodafone UK
• PSBs extend support of Rs 2.56L-cr to stressed NBFCs
• Coal India’s October production may fall 20%
• China doubts long-term trade deal possible with Trump
• Irdai asks insurers to give details on exposure to DHFL, IL&FS, ADAG
• FinMin claims huge progress in a report on measures to boost the economy
• IOC Sept quarter net profit slumps 83% at Rs 563.4 crore
• Govt not considering any proposal for gold amnesty scheme: Report

• Syndicate Bank posts Rs 251-cr Q2 profit, versus Rs 1,543-cr loss last year
• Core sector output falls 5.2 percent in September
• Fiscal deficit reaches 92.6 percent for six months
• Tube Investments’ Q2 PAT grows 58% at ₹90 crore
• Adani Transmission bags two projects from REC Transmission in Gujarat
• IBC: No back-door entry for ineligible promoters in liquidation proceedings
• India’s sugar output seen falling, global deficit rises
• GSK Consumer Healthcare re-launches Crocin Pain Relief
• Govt actively taking steps to boost the economy: FinMin
• ShopClues to merge with Singapore-based Qoo10
• GM recalls 638,000 US SUVs, trucks for unintended braking
• Paytm Mall trims losses by 34% in FY19 to Rs1,171 crore
• India loses export incentive case filed by the US at WTO
• Rescuing former cash cows BSNL, MTNL is widening India’s fiscal deficit
• 7000 businesses to be set-up in these states under SIDBI’s mega move to boost entrepreneurship
• Digital payments surge to dent banks’ revenues by $9 billion
• Reliance Jio says telcos have sufficient capacity to pay dues after SC verdict
• Auto sector’s contribution to GDP may slip to 7 pc this fiscal: Acute Ratings
• No more FTAs signing in rush assures Piyush Goyal
• Muthoot Finance board approves USD 450 mn fund-raise
• Sensex closes at 40,129, extends gains for 5th session
• Gold prices up to Rs 115 to Rs 39,017 per 10 gram
• Banks’ payments revenues to dent by USD 9 billion by 2025: report