Morning Business News Round Up_Dec 9,2019

Morning Business News:

  • India’s real GDP growth in FY20 to come below 5%
  • China exports fall in November, imports recover
  • Maruti raises production by 4% in November
  • Foreign borrowings jump to $3.41 billion in Oct
  • CG Power seeks nod to borrow up to Rs 5,000 cr
  • FPIs turn net sellers in Indian capital markets in Dec
  • Bharti seeks Rs 4,900-cr FDI nod; infusion to make Airtel foreign firm
  • 373 infrastructure projects hit by cost overruns of Rs 3.89 trn: Report
  • Paper to capture 25% of the Rs 80,000 cr single-use plastics market by 2025
  • NTT targets $1 billion in revenue from India operations in the next two years

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  • SC orders interim stay on NCLAT order on Orchid Pharma resolution process
  • India Inc’s overseas borrowings jump over two-fold to $3.41 bn in October
  • Government looking at deploying larger funds for startups: Piyush Goyal
  • NTPC signs pact for ₹5,000-crore term loan with SBI
  • New household consumer expenditure survey to begin in July
  • Reliance’s biotech arm eyes tie-ups to enter diagnostics business
  • Canadian pension funds eye private debt space in India
  • Amid tariff war, China’s exports to the US fall 23% to $35.6 bn
  • Welspun Group promoters buy a majority stake in One Industrial
  • Govt plan to allow EPF-NPS portability may be junked
  • India Inc’s foreign borrowings grew over two-fold in October
  • India’s Paper industry likely to acquire 25% market share of single-use plastics market by 2025
  • Average customer unlikely to pay for outgoing calls, says Reliance Jio
  • Financial sector fragilities taming growth

Morning Business News Round Up_Dec 6,2019

Morning Business News:

  • Government approves the allocation of 5 coal blocks
  • RBI set to tighten screws on co-op banks
  • Govt withdraws GST Circular on back-office services
  • S&P keeps Airtel rating on negative watch
  • Payment banks can convert into small finance banks after 5 years
  • Maha govt wants PMC Bank to merge with MSC Bank
  • RBI unexpectedly hits pause on rate cut; lowers FY20 GDP forecast to 5%
  • The base year for calculating GDP revised due to socio-economic changes: Govt
  • Moody’s downgrades Yes Bank’s ratings, assigns a negative outlook
  • Nestle India prepares the ground as HUL-GSK Consumer merger nears
  • M&M buys 36.6% in Meru for Rs 44.71 cr, to appoint the majority of directors
  • Cardekho raises $70 million in Series D funding from Chinese, European investors
  • Oil marketing firms’ bid to encourage alternative fuels

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  • Canada Pension Plan Investment Board to invest up to $600 million in NIIF
  • CSIR, BHEL sign pact to develop and market technologies
  • Zydus Cadila files an application for liver disease drug
  • Saudi Aramco raises $25.6 billion in the world’s biggest IPO
  • Billionaire Lawrence Stroll seeks a big stake in Aston Martin: Report
  • Tata Motors board approves ordinary shares, warrants to Tata Sons
  • Infra and manufacturing sectors disappointed with RBI’s policy stance
  • DHFL insolvency process starts, investors’ claims sought
  • Fitch Ratings says Indian banks to write off more loans
  • Rajya Sabha nod to lower corporate tax rates
  • 15th Finance Commission submits its report for 2020-21 to President
  • No way privately-issued digital currencies can be allowed: RBI Governor Shaktikanta Das
  • Corporate lending witnessing lack of demand: SBI
  • NBFCs, MFIs & co-ops can now become SFBs
  • P2P lending limit raised to Rs 50 lakh
  • Markets end lower in see-saw trade as RBI surprises with status quo

Morning Business News Round Up_Dec 5,2019

Morning Business News:

  • SBI to sell 8.25% stake in UTI MF via OFS
  • SAT refuses relief to lenders in Karvy Broking case
  • IL&FS reports Rs 22,527 crore loss for FY19
  • ‘India’s cybersecurity market to touch $3 bn by 2022’
  • Ashok Leyland announces non-working days for Dec
  • Sebi action against auditors, not ‘turf war’: Ajay Tyagi
  • SAT asks NSE to take a decision on Karvy’s license suspension by Friday
  • Anil Ambani firms’ CoC to discuss Bharti Airtel’s offer on Thursday
  • Govt garnered Rs 2.03 trn revenue from Coal India in last 6 fiscals: Joshi
  • Govt considering options to decontrol urea, says Fertiliser Minister
  • Tata Power-ICICI Bank JV acquires UP based Prayagraj power project
  • Cabinet approves Fourth Code of labor laws, land monetization

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  • SAIL records 36 percent growth in sales during November 2019
  • Oil marketing firms’ bid to encourage alternative fuels
  • Indian clothing market likely to be worth $53.7 billion in 2020
  • Sembcorp to buy out Gayatri Energy’s stake in India venture
  • US, China move closer to trade deal despite the harsh rhetoric
  • Bharat Bond ETF cleared, paves way for retail funds in corporate debt
  • Ujjivan Small Finance Bank IPO sees the highest subscription in 2019 at 170 times
  • Sembcorp buys out Gayatri Projects’ 5.95% stake in its subsidiary for ₹406 cr
  • FMCG sales on e-commerce sites to touch $4 billion by 2022: Nielsen
  • OPEC nations grapple with an oversupply of oil
  • GST Council to review revenue position, compensation cess on December 18
  • Coca-Cola’s in-house bottling arm to transfer operations in north India to franchisees
  • Govt to launch first debt exchange-traded fund
  • India’s services industry returns to growth in November on strong demand: PMI
  • Bharti Airtel board approves raising up to USD 4 billion
  • United Breweries steps into the craft beer market

Morning Business News Round Up_Dec 4,2019

Morning Business News:

  • India’s growth likely reached a trough: Goldman Sachs
  • S&P reaffirms India’s sovereign rating at BBB
  • Jaypee Infra: NBCC, Suraksha Realty place final bids
  • RBI MPC starts deliberations on monetary policy
  • Global uncertainty could push 7 mn in India to poverty
  • Standard Life to sell 2.23% stake in HDFC AMC
  • White House considered kicking Huawei out of US banking system: Sources
  • Japan preparing $120 billion stimulus package to bolster the fragile economy
  • SAT asks NSDL to hold back remaining stocks of Karvy Broking clients
  • Statistical Commission to discuss junked consumer spending report on Dec 4
  • State-run banks lent Rs 4.14 trn to NBFCs, housing financiers in one year

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  • Advent, Temasek divest stakes in Crompton Greaves worth Rs 1,275 cr
  • Govt mulls easing foreign control rule to aid Air India sale
  • Coal India output falls 4% in November
  • Sugar mills’ production falls 54% to 18.85 lakh tonnes till Nov 30
  • Transasia to acquire facility in Brazil to sell diagnostic products locally
  • JSW Steel expects Rs 600 crore TMT bar supply to metro projects
  • Mudra NPAs at 2.86% in FY19, says Anurag Thakur
  • 10,860 cases under IBC pending before NCLT at end of September: Govt
  • 51 absconders who left country defrauded over ₹17,900 cr; CBI probing: Govt
  • 92,700 BSNL, MTNL employees opt for voluntary retirement
  • IT department issues ₹1.46 trillion in refunds till November end
  • Eris Lifesciences buys anti-diabetes novel drug Zomelis in India for $13 million
  • Income Tax dept reports 23% growth in refunds till Nov 28
  • Disinvestment: Govt plans offer for sales route in six CPSEs, including Coal India
  • Company directors may be on govt’s watch list; 19 lakh directors already axed so far
  • Sitharaman to meet state FMs today: Steps to boost GST revenue on agenda
  • Reliance Infra invokes RPower’s 10.19 cr pledged shares
  • Donald Trump sees no deadline for a China trade deal
  • Thomas Cook gets brand right for India, Sri Lanka
  • Rupee settles flat at 71.66 against US dollar
  • Sensex slips over 126 points; metal stocks drag

Morning Business News Round Up_Dec 3,2019

Morning Business News:

  • Karvy case: 90% of investors get back their securities
  • Crisil slashes FY20 growth forecast to 5.1 percent
  • Government launches independent directors’ databank
  • Gross direct tax collection rises by 5% till Nov: FM
  • $14 bn loans to builders under severe stress: Report
  • Steel industry margins set to shrink: India Ratings
  • United Spirits proposes a merger with Pioneer Distilleries
  • Telecom tariff hike expected to benefit sector, boost its financials
  • Govt moves Taxation Bill in Lok Sabha seeking changes in income tax law
  • Net surplus revenue decreased 66% to Rs 1,666 cr in 2017-18: CAG report
  • Ashok Leyland M&HCV sales decline 55% in November; bus sales up 196%
  • Tata Motors bags orders for over 2,300 buses from various state govts

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  • The corporate tax cut will make India a global manufacturing hub: FM
  • No proposal to reduce taxes on petrol, diesel: Central Government
  • LG Electronics India posts ₹1,534-crore profit in FY19
  • India Inc delivered weak performance during Q2 FY20: ICRA
  • Cadila Healthcare gets board nod for amalgamation
  • Kia Motors becomes India’s fourth-largest vehicle manufacturer after two months
  • SAMHI Hotels gets Sebi’s go-ahead for ₹1,800-2,000-crore IPO
  • Jaypee Infra case: Suraksha may offer more cash & land to lenders
  • Railways operating ratio in 2017-18 was 98.44%, worst in 10 years: CAG
  • Yes Bank files insolvency petition against Jaypee Healthcare
  • Foreign investors bring cheer to the Indian market in November; FPI inequity at 8-month high
  • Government earmarks Rs 937 crore for exploration of non-CIL blocks in FY20
  • India’s economic growth likely to remain subdued in the near future, says a report
  • Samsung India’s profit declines 58 percent, becomes $10 billion firm
  • Over 3.38 lakh cos deregistered in last two financial years: Govt
  • Rupee edges higher by 8 paise to USD; RBI policy meet in focus
  • 78 pc depositors of PMC Bank can withdraw entire deposits: govt
  • Public sector banks told to outline insurance JVs’ future

Morning Business News Round Up_Dec 2,2019

Morning Business News:

  • New Sebi framework to boost depository receipts
  • FPIs net buyers for 3rd month; invest Rs 23K cr in Nov
  • RCEP: Japan says efforts to address India’s concerns
  • 12 companies want to shift base from China: FinMin
  • Telcos to gain Rs 36,000 cr/month from rate hike: Cong
  • Nissan, Renault, Mitsubishi Motors form a new venture
  • India considers investing $1.39 trn in infrastructure to spur the economy
  • Sep quarter Debt MFs see Rs 5000-crore outflow overrating downgrades
  • Airtel, Voda Idea and Jio to hike mobile, data tariffs by up to 40%
  • Maruti Suzuki India sales down 1.9% in November at 150,630 units
  • DBT increased interest cost of fertilizer firms: FAI
  • SAIL likely to start manufacturing of specialty rails in 2 years: Official
  • LG Electronics India posts ₹1,534-crore profit in FY19

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  • Mahindra & Mahindra total sales down 9 percent in Nov
  • WTO: 163 countries agree to make changes in rules governing trade dispute resolution
  • GST collection recovers to ₹1.03 trillion in November
  • Tata Motors’ November wholesales drop 25%
  • ‘India is about competencies, biz prospects; discovering new opportunities’
  • SBI Mutual Fund writes down its entire exposure to Reliance Home Finance
  • Funding gap slows down startups aiming for the global robotics club
  • LIC earns over Rs 14,000 crore profit from stock markets in the current financial year
  • Axis Bank more than doubles loan provisions for troubled sectors
  • Jio boxed into the corner; CII, FICCI join the cause to seek relief for telcos
  • Deadline for filing returns with NFRA extended
  • Investors seek proactive steps to guard against broker default
  • Indian car buyers becoming less price-conscious: JD Power
  • Estimates of 2020 sugar production, exports vary