Morning Business News Round Up_May 24, 2018

  •   Govt won’t allow any bank to fail: FinMin Secy
  •   Direct tax collection rises 18% to Rs 10.03L cr in FY18
  •   DoT includes tower cos in right of way rules
  •   India takes US steel tariffs complaint to the WTO
  •   Over 2,100 companies settle Rs 83,000 cr dues
  •   Tata Motors Q4 profit halves YoY to Rs 2,176 crore
  • Related image  Trai asks telcos to put all tariffs online from June 30
  •  Cabinet approves ordinance to give homebuyers creditor status under IBC
  •  Tata Steel’s Bhushan buy to raise net leverage over next 2-3 years: Fitch
  •   Jet Airways posts 4th-quarter loss due to higher fuel costs
  •   Cabinet approves restructuring of Scooters India B/S
  •   OMCs under pressure; IOC hits 52-week low; HPCL, BPCL down 6%
  •   Cabinet clears amendments to bankruptcy code
  •   Walmart India, Flipkart top executives meet CCI; apprise business activities
  •   GVK Power Q4 profit at Rs 23 cr on standalone basis
  •   Binani Cement’s resolution professional postpones lenders’ meet
  •   NLC, NMDC to sign MoU with Australian firm for steel production
  •   TCS expands operations in Florida as part of Transamerica deal
  •   Yes Bank recovers 66% of original claim filed for Bhushan Steel
  •   Motherson Sumi Q4 profit up 7.32%, dividend of Rs2.25 per share declared
  •   Grasim to invest Rs13,000 crore in textile, cement business
  •   Vedanta Resources operating profit up 27% to $4.1 billion in FY’18
  •   Suzlon in talks to sell 300 MW of wind power assets
  •   Violent protests: Madras High Court stays Sterlite smelter expansion
  •   Telcos add 70 m subscribers in Jan-Mar
  •   Binani RP postpones creditors’ meet
  •   ABG Shipyard receives new resolution plan
  •   UTI is not a PSU, and it has to be Sebi-compliant
  •   Risks of servicing Basel II debt up for some PSBs: Icra
  •   4,072 telecom towers to be set up in Naxal-hit areas for Rs 7,330 crore
  •   CBIC aims to dispose pending cases by June
  •   Record oil prices: Relief eludes as govt looks oblivious to

Morning Business News Round Up_May 23, 2018

  •   SBI to sell stake in SBI Gen, SBI Card & SBI Caps soon
  •   OC posts 40% YoY jump in Q4 profit at Rs 5,218 cr
  •   India Inc foreign borrowing jumps over 2-fold in April
  •   Venezuela willing to accept oil payments in rupees
  •   Over 39L jobs created in 7 months till March: EPFO78
  •   Dalmia Bharat not to revise bid for Binani Cement
  •  Image result for 5g image ‘5G to offer $27 bn biz opportunity for India by 2026’
  •   SBI posts record loss of Rs 77 bn in Q4; stock rises 3.7%
  •  Modi, Putin talk multi-nation trade corridor being built by India via Iran
  •  Sebi probes insider trading violation at Fortis Healthcare
  •   Oil on the boil: Fuel subsidy may hit Rs 530 bn: Moody’s
  •   Rupee recovers from two-day fall to 68.04 vs dollar, edges 8 paise higher
  •   Sebi to ease norms for MF in derivative investment by raising cap on F&O
  •   Hyundai to hike vehicle prices by up to 2% from June
  •   DLF eyes bookings of ₹2,500 cr in FY’19; to be debt free by March
  •   Bharti Group exits Biyani’s Future Enterprises by selling its 13.64% stake
  •   RCom moves NCLAT challenging order allowing plea for its insolvency
  •   Highest bidder for Air India to be known by Aug: Choubey
  •   NCLAT puts Essar Steel insolvency process on hold
  •   Cipla back in black, posts Q4 profit of Rs179 crore but misses estimates
  •   Bosch Q4 standalone net down 1.51% at Rs433.78 crore
  •   Bata India March quarter profit jumps 44.8% to Rs52 crore
  •   Warburg Pincus leads race to buy 26% stake in insurer IndiaFirst
  •   India may not accept arbitration orders annulling Cairn, Vodafone tax demands
  •   Airbus says will obey WTO ruling on aircraft subsidies
  •   Sony buys EMI Music Publishing in USD 1.9bn deal
  •   SoftBank confirms selling ‘entire stake’ in Flipkart to Walmart
  •   China, US near deal on ZTE reprieve; Beijing cuts auto tariffs
  •  FY18 fiscal deficit may come down to 3.4%
  •   DHFL raises over Rs 10,000 crore on day 1
  •   CCI okays $66 billion Bayer-Monsanto deal
  •   Essar Steel insolvency: NCLAT orders status quo
  •   SGX to launch Indian derivatives despite legal move by NSE

Morning Business News Round Up_May 22, 2018

  •   India to achieve 9 per cent growth rate by 2022
  •   China to buy large amounts of US farm exports: Trump
  •  Related image Rising crude may stretch CAD to 2.5 pc of GDP in FY19
  •   CBI charge-sheets Rotomac promoters
  •   US issues steep list of demands for treaty with Iran
  •   SBI and PNB just got a $5.2 bn breather, but it may not last
  •   Google may face $4.3 bn claim in iPhone privacy case
  •   Fortis faces MCA probe for mismanagement, EGM to seal takeover    on Tuesday
  •   NCLAT hope for L&T, firm to argue case on Tuesday for Bhushan      Steel dues
  •   Two consecutive years of better monsoon, MSP hike lift rural              demand
  •   Markets drop for fifth straight session on rising crude oil prices
  •   Canada, US, Mexico to renegotiate new NAFTA deal, bring it to conclusion
  •   Foreign investments in Indian start-ups doubled to $16,728 million in 2017
  •   Set sugarcane pricing free: Industry body ISMA to Govt
  •   At 33.26 mt, wheat purchases exceed target by 4%
  •   Rail Vikas Nigam gets SEBI’s nod to launch IPO
  •   L&T’s hydrocarbon arm bags Rs 3,800-cr worth orders
  •   Colgate Palmolive profit rises 25%
  •   India’s Q4 GDP growth likely at 7.4%: Icra
  •   UAE to allow 100% business ownership to foreign investors
  •   NSE to delist Kingfisher Airlines, 17 others from 30 May
  •   Glenmark gets USFDA nod for generic version of Welchol tablets
  •   Moody’s downgrades PNB on impact of Nirav Modi fraud
  •  Sensex ends down 232 points as 1970 BSE stocks drop; PSU banks surge on mega resolution
  •   Income Tax department to file pleas in NCLT to extract tax due from shell firms
  •   Finmin ties up with 40 entities to extend funding under Mudra scheme
  •   Government to step up coal supply to power plants from May 19 -June 30
  •   FinMin rules out raising equity investment limit for pension funds
  •   Airlines may get nod to tap ECB window for low-cost funds
  •   Banks have tapped just a third of credit-worthy consumers: Report
  •   CAIT to move CCI against Flipkart-Walmart deal
  •   Gems & jewellery exports dip 22% in April

Morning Business News Round Up_May 21, 2018

  •   Ultra Tech to acquire Century Textiles’ cement business
  •   Sebi to consider penal action against PNB, Gitanjali
  •   US, China putting trade war on hold: Mnuchin
  •   Independent director quits Fortis board
  •   Jaiprakash Associates to appeal against NCLT order
  •  Related image Petrol, diesel prices hit new lifetime highs
  •   Adani set to make big-ticket entry into e-bus production, eyes tie-up with Taiwan firm
  •   Problem in bond market is root cause of banking sector crisis: CAG
  •   Talks with Putin will strengthen India’s strategic plan with Russia: Modi
  •   Govt expects banks to get back over Rs 1 trn with resolution of 12 big NPAs
  •   Wilful defaults by PNB’s big borrowers slip further to Rs 152 bn by Apr-end
  •   Growth road map clear for Ashok Ley as Q4 profit rises 40%
  •   L&T to make rocket engines at its Coimbatore facility
  •   Climate change cutting of 1.5% of GDP, says Vice-President
  •   Navy gets fuel barge from Titagarh ahead of time
  •   HCC venture set to bag part of Mumbai coastal road project
  •   Tariff battle: India may target US apples, almonds and bikes
  •   China’s Mobike to foray into India in next few weeks
  •   Balrampur Chini posts Rs 42 cr loss in Q4
  •   MTNL may be allocated 4G spectrum: Telecom minister
  •   RIL gets green nod for expansion of petrochemical complex in Maharashtra
  •   Govt may allow data resale in boost to public WiFi plan
  •   Tata Steel-Bhushan Steel deal a sound start to the new bankruptcy framework
  •   Biocon bets on R&D, biosimilars business to boost growth in FY19
  •   Steel, aluminium duties row: India plans to hit back with hike on 20 US products
  •   Walmart, Flipkart deal signals churn in e-grocery
  •   BoI to get Rs 1993 cr from Tata Steel-Bhushan Steel deal
  •   DoT seeks reply from Airtel on Apple Watch eSIM service by May 24
  •   India sixth richest nation with $8,230 billion wealth
  •   GST council asks Centre, states to set up appellate authorities
  •   FinMin begins work on merging insurers, but listing unlikely this FY
  •   Natural rubber prices set to go northward
  •   New and innovative products to conquer F&B sector

Morning Business News Round Up_May 16, 2018

  •   India’s April trade deficit widens to $13.7 billion
  •   Niti Aayog governing council to discuss ‘New India 2022’
  •   Gold imports decline 33%, exports rise 5.2% in April
  •   Request from Indian govt highest after the US: Facebook
  •   NCLT admits Ericsson’s bankruptcy plea against RCom
  •   Aditya Birla Capital’s 2 cos apply to NCLT for merger
  •   Crude oil nears $80 a barrel on Iran sanctions
  •   Bonds, rupee lose big as RBI decides to stay clear
  •   Fraud-hit PNB posts biggest ever quarterly loss of Rs 134.17 billion in Q4
  •   Lupin Q4 net loss at Rs 7.83 bn due to one time write-off
  •   Related imageVodafone India’s FY18 operating profit at Rs 98 bn, data traffic up 4 times
  •   Two independent directors quit IDBI days after FIR in Aircel loan case
  •   Uzbekistan keen to collaborate with Indian textiles, IT firms
  •   Nalco sets revenue from operations target at Rs 9,350 cr
  •   Soaking seeds in selenium reduces arsenic content in rice
  •   Suven Life Q4 net up 56% at Rs 62.5 cr
  •   Resistance caps the upside in MCX Zinc
  •   Monsanto India Q4 profit up 66%
  •   Despite Brexit uncertainties, India-UK trade up 15%
  •   RBI imposes penalty on Cooperative bank
  •   Britannia Industries Q4 profit rises 25% to Rs263 crore
  •   Blackstone unit sells 8% stake in Mphasis for about Rs1,440 crore
  •   Ascendas to buy two office buildings in Navi Mumbai for Rs930 crore
  •   First oil cargo for India’s strategic reserve in Mangaluru sails from UAE
  •   Motorcycle sales outpace scooters’ for third straight month
  •   Forbes honours 100 Gulf-based Indian businessmen; their collective net worth is whopping $26.4 billion
  •   RBI may hike interest rate in next monetary policy meet as inflation rears its ‘ugly’ head
  •   Pay Rs 5 cr more to refund home buyers: SC tells Supertech
  •   India 3rd largest solar market in world behind China and US, says Mercom report
  •   NCLT okays Tata Steel bid for Bhushan Steel
  •    Arcelor parks `7Kcr with SBI for Galva
  •   Google asked to pay tax on advt revenue sent to parent firm
  •   India 3rd largest solar market
  •   Four companies added to MSCI Global Index

Morning Business News Round Up_May 14, 2018

  •   Jio’s latest accusation could land Airtel in a Rs 1,100 crore soup
  •   FPIs pull out $2 bn from mkts in 8 trading sessions
  •   Taxing farm income under consideration of all govts: Niti
  •   Too much trade deficit with US not good: Chinese envoy
  •   RBI may put restrictions on 2 more lenders under PCA
  • Air India, Tel Aviv, Dreamliner aircraft, Benjamin Netanyahu  Air India records 20% growth in revenue
  •   Post QIP, ABG needs to buy 4.9% from Vodafone
  •   Rs 150-bn mega deal inked to enable Indian Army to fight a 30-day war
  •   E-rickshaw tyres to attract 28% GST under Motor Vehicle Act, rules AAR
  •   Equity mutual funds garner Rs 124 bn in April; drive AUM to record Rs 8 trn
  •   India needs 3 million cyber security professionals right now: IBM
  •   Reliance Jio files complaint against Airtel over Apple Watch eSim service
  •   ‘SoS’ sugar cess to fetch Rs.6,700 cr a year
  •   Commerce Min starts work to further revise WPI base year to 2017-18
  •   Govt ‘to link 200 more mandis to eNAM platform this fiscal’
  •   Vijaya Bank tags Reliance Naval as NPA from March quarter
  •   Harley-Davidson’s 3-pronged plan to drive growth
  •   Fortis deal: PEs East Bridge and Jupiter favour bid by Malaysia’s IHH
  •   FBB COO Rajesh Seth says Future Group aims to double its turnover in the next two years
  •   JK Cement Q4 profit more than doubles to Rs96.45 crore
  •   PNB scam: RBI declines to share inspection reports
  •   Oriental Bank of Commerce Q4 loss widens to Rs1,650 crore on rising bad loans
  •   New direct tax code to benefit corporates, IT payers
  •  China’s plans to import Indian drugs fail to enthuse Indian pharmaceutical firms
  •   Artificial Intelligence facing large skills shortage, says Microsoft
  •   CCI approves JSW-led consortium bid to acquire Monnet Ispat
  •   Power Struggle: NTPC’s legacy PPAs keep tariffs high
  •   RBI printing more notes to build cash reserves
  •   New definition, tough steps to tackle shell companies on cards
  •   BSNL ready to compete in market: CMD
  •   Tea planters, firms want rise in farm-gate prices
  •   Castor prices may see recovery on export demand

Morning Business News Round Up_May 11, 2018

  •   Falling Re to take FY19 trade deficit to 4-yr high
  •   Decide on banning import of pet coke: SC to Govt
  •  Image result for PCJ logo PCJ announces share buyback worth Rs 424 cr
  •   Rel Infratel flags desperate need to sale its assets
  •   Jaypee moves SC seeking approval of its resolution plan
  •   York Capital Management ups stake in Fortis to 6.25%
  •   Freeze on fuel prices hike coincidental: IOC chief
  •   RBI adds 3.1 tons of gold to forex reserves in Q4
  •   Walmart-Flipkart deal to hit Indian retail, needs govt scrutiny, says CAIT
  •   Captive coal to cut Nalco’s aluminium cost by 25%
  •   Nestle India Q1 profit rises 36% at Rs 4.24 billion
  •   Indian Bank Q4 profit drops 59% to Rs 1.3 bn on higher NPA      provisioning
  •   RBI could turn to NRI bonds to stifle the crude blow: Report
  •   ‘US sanctions on Iran will not dent India’s exports’
  •   SEBI splits CMD post, raises minimum board strength to 6
  •   IRB Infra arm bags Rs 2,043-cr road project
  •   Titan Q4 net jumps 71% to Rs 304 cr
  •   Zydus Cadila gets USFDA nod for Carbidopa tablets
  •   KKR India to infuse Rs 1,250 cr in Sintex arm
  •   Adani Enterprises Q4 profit declines 17% to Rs181 crore
  •   ABB India’s profit margins, order book betray expectations
  •   Indostar Capital Finance IPO subscribed 69% on Day 2
  •   Union Bank posts Q4 loss of Rs2,583 crore
  •   Ujjivan Financial Q4 profit jumps over 3-fold to Rs65 crore
  •   After Flipkart deal, Walmart to open 50 new stores in India in 4-5 years
  •   Supreme Court spots fund diversion by Amrapali Group, seeks financial details
  •   Jaypee group offers 2,000 shares to home buyers
  •   Apple scraps $1 billion Irish data centre over planning delays
  •   GST, RERA have changed contours of business in real estate, says report
  •   Currency futures trading could be extended to 8 PM
  •  Commercial vehicles take lead over others
  •   NRI Bonds of $30-35B on the way: report
  •   Jignesh Shah moves HC for quashing of CBI probes
  •   Offshoring budgets of US companies down to 5%

Morning Business News Round Up_May 3, 2018

  • ‘Manipal-led bid for India’s Fortis faces objections’
  • Fed maintains status quo, says inflation close to target
  • Related imagePower Grid board approves investment of Rs 461 crore
  • India, US to boost cooperation in Indo-Pacific region
  • CBI may soon file charge sheet in PNB Scam
  • Govt to pay Rs 1,540 cr to cane growers on mills’ behalf
  • NCLT orders Binani lenders to consider UltraTech bid
  • Over 23,000 bank fraud cases involving Rs 1 trillion in 5 years: RBI
  • Govt approves continuation of merged agri schemes with Rs 332.6 bn outlay
  • 9 cos in fray for 55 blocks under first OALP auction; Vedanta bids for all
  • Amazon makes formal bid to buy 60% stake in Flipkart: Reports
  • IndiGo Q4 profit plunges 73% on higher expenses at Rs 1.18 billion
  • Recognition of bad loans will produce benefits over long-term: Moody’s
  • Revenue dept to look at quarterly GST revenues average for trend analysis
  • 11 farm schemes, with over Rs.33,000-cr outlay, merged
  • Hero MotoCorp Q4 profit jumps 35%
  • NBCC wins Rs.2,000-cr govt order
  • Siemens net up 18% in March quarter
  • HCL poised to replace Wipro as No. 3 IT firm
  • Job losses from tech adoption a risk for nations: ADB
  • Marico Q4 profit rises 7% at Rs183.2 crore
  • Sebi said to probe IndiGo stock fall before company filing: report
  • Vedanta considers building zinc smelter in South Africa
  • Ajanta Pharma Q4 profit down 17% at Rs94 crore
  • Kotak Mahindra Bank, HDFC twins, ITC steer Sensex in green; PSU banks, real estate, metals crack
  • India?s economy likely to grow at 7.3 pct this fiscal:Report
  • Govt approves Rs 5.5 per quintal subsidy for sugarcane farmers
  • Tata Power posts Q4 profit at Rs 1,477 cr, declares 130 pct dividend for FY18
  • Rupee may hit Rs 68-70/$1 by fiscal-end
  • 89% of organisations plan to implement AI technologies in the next 12 months
  • India falls out of top 10 in FDI index
  • Assets of offshore Indian bonds double to $8b in 17
  • EPFO suspends Aadhaar-seeding services amid data leak reports

Morning Business News Round Up_May 2, 2018

  • Core sector growth slows to 4.1% in March
  • RBI allows FPIs to invest 20% in short term securities
  • NCLAT directs status quo in Electrosteel sale case
  • ETMONEY launches CreditLine, forays into lending
  • CBI probing loans to Aircel ex-promoter: IDBI Bank
  • Image result for HyundaiHyundai sales up 6% in April at 59,744 units
  • New telecom policy sets a target of $100-billion investment by 2020
  • L&T to sell electrical and automation business to Schneider for Rs 140 bn
  • Air India sale: Centre eases bid conditions, extends deadline to May 31
  • Essar lenders to meet ArcelorMittal, Numetal on May 2 to discuss offers
  • Maruti Suzuki India April domestic sales up 14.4%; exports up 19.1%
  • Govt puts rest to speculation on FDI hike in PSBs, privatisation
  • GAIL signs Rs 20 bn loan agreement with SBI to meet capex requirement
  • Mahindra & Mahindra sales up 22% at 48,097 units in April
  • Oil PSUs freeze fuel prices ahead of Karnataka polls
  • GST revenues for April cross Rs 1-lakh crore mark
  • M&M to buy up to 10% stake in Canada?s Resson Aerospace Corp
  • Fortis gets improved offer from IHH Healthcare at Rs.175/share
  • Royal Enfield sales up 26.67% in April at 76,187 units
  • GAIL signs Rs2,000 crore loan agreement with SBI
  • JSW Infra plans Rs8,800 crore investment in next 3 years
  • Kuwait Petroleum eyes 24% stake in Bina refinery: report
  • SBI not to hold its annual accounts meeting in Kolkata from this year
  • Operational creditors file plea opposing Alok Industries’ liquidation
  • Equis looks to sell its power platform in India Hydreq for Rs2,000 crore
  • Huge potential for trade between India, southern Africa countries: Suresh Prabhu
  • Power gencos for changes in Coal India?s proposed pricing system
  • Identify India?s current stage of economic cycle and invest accordingly
  • DGAD refuses dumping duty on a chemical from Chinese Taipei, South Korea
  • Draft policy envisions lower taxes, universal broadband access
  • Market sees Korean peace overtures as long-term positive
  • Retrospective amendment to Raj PSC puts Cairn in a spot
  • Trump keeps allies guessing on steel tariffs ahead of deadline
  • Biofuels to pave way for reducing India?s carbon footprint

Morning Business News Round Up_April 27, 2018

  • YES Bank Q4 profit jumps 29% YoY to Rs 1,179 cr
  • Axis Bank posts first-ever quarterly loss at Rs 2,188 crore
  • Image result for Mobile-Aadhaar linkingMobile-Aadhaar linking: Telcos say obeyed DoT orders
  • Biocon posts marginal 2% growth in net for Q4FY18
  • CBI books ex-Aircel promoter’s firms in Rs 600 cr fraud
  • Infosys may hire more than 2000 at Indiana hub: Report
  • Downtrend in raw jute output takes sheen off MSP hike
  • Essar Steel: Numetal moves NCLAT ahead of bankers’ meet on Friday
  • Lodha Developers to soon file papers with Sebi for IPO, to raise Rs 55 bn
  • Reliance Jio to hire about 80,000 people during this financial year
  • India to grow 7.2% this fisc, rising oil prices challenge: Deloitte
  • China-India trade volume grows 15% in Q1
  • Cotton body sees a stable situation on higher stocks
  • Govt considering national policy for retail trade
  • Abbott withdraws one more stent from Indian market
  • UltraTech Cement net a tad down in March quarter
  • With 2.2 billion active users, Facebook Q1 profit rises 63%
  • Reliance Capital Q4 net profit up 36% at Rs428 crore
  • SBI Life Q4 profit up 13% to Rs381 crore
  • Dish TV’s Rs3,701 crore open offer to start on 5 June
  • Property prices drop by 7% in 9 cities in January-March: report
  • IMF estimates higher crude oil prices may not have any significant impact on India’s GDP
  • Government to soon acquire RBI?s stake in National Housing Bank
  • ITC ties up with NITI to train 2 lakh farmers to increase income
  • Need for serious negotiations on US-India free trade agreement, say experts
  • Amazon India to expand storage capacity by 1.5 times this year
  • Mobile manufacturing to touch Rs 132,000 cr, says Ravi Shankar Prasad
  • Sensex zooms 212 pts, Nifty tops 10,600
  • MTNL wants govt to reimburse Rs 2,800cr interest on spectrum loan
  • Gems & jewellery exports fall 5% in FY18
  • Direct selling industry reports 24% sales rise
  • Govt non-committal on cutting fuel prices