Morning Business News Round Up_ Sep 21, 2018

  •  Government appoints 14 executive directors in banks
  •  SBI hopes to resolve 7-8 stressed assets by Nov 11
  •  Emirates, Etihad airlines deny report they may merge
  •  Infosys launches next-gen learning solution Wingspan
  •  Tata Steel celebrates its 100 years in the Netherlands
  •  BRICS bank approves $525-mn for infra projects in MP
  •  India’s economy to double in size to $5 tn by 2022:PM Modi
  •  Sebi norms for corporate bonds could boost issuances by Rs 500 bn: Crisil
  •  Image result for TVS Logistics ServicesTVS Logistics Services buys 51% stake in Chola’s WDSI for Rs 422 mn
  •  India to settle payments for Iranian oil using rupees starting November
  •  Sebi announces changes to the composition of credit rating agencies
  • Govt hikes interest rate on small savings by up to 0.4%
  •  NITI Aayog to make recommendations on proposed agriculture
  •  USGC asks India to allow ethanol imports to lower crude oil
  •  Chennai Petroleum cancels Iran oil imports
  •  SBI gets tough with ArcelorMittal over Uttam Galva dues
  •  E-commerce cos to deduct 1 pc TCS under GST from Oct 1
  •  ‘SBI not the right candidate to take over more banks’
  •  PowerGrid gets shareholders’ nod to raise up to ₹20,000 crore via bonds in FY20
  •  Petroleum products may not be brought under GST soon
  •  India considers raising steel import duty to support rupee
  •  Airtel, Reliance Jio, Sterlite Tech among bidders for Aircel assets
  •  Preventive vigilance better governance tool for public institutions, says RBI Governor Urjit Patel
  •  NCLAT wrongly allowed ArcelorMittal to pay dues after bidding for Essar Steel, NuMetal tells SC
  •  Steel import duty hike may widen CAD, hit engineering exports: EEPC India
  •  India Post invites proposal for consultancy on setting up insurance arm
  •  Asian firms’ confidence sinks to near 3-year low: Poll
  •  Fitch revises Tata Motors outlook to negative
  •  Global meet on sustainable trade and standards
  •  ITC Hotels acquires Park Hyatt Goa Resort
  •  SEBI passes on economies of scale of increasing asset size to investors

Morning Business News Round Up_ Sep 19, 2018

  •  China sets retaliatory tariffs on $60bn in US goods
  •  Prove charges against ArcelorMittal: SC to Numetal
  •  Govt may decide on 4G spectrum allocation by dec
  •  Daiichi intervenes in HDFC’s insolvency case
  •  Image result for reliance capitalReliance Capital to exit all non-financial business
  •  No settlement plea from ICICI Bank: Sebi
  •  LIC yet to seek open offer exemption for IDBI takeover: Sebi
  •  Sebi pares IPO listing time to 3 days from 6, clears UPI as payment option
  •  Cabinet to mull Rs 45-bn package for cash-starved sugar industry on Wed
  •  Huge debt in corporate balance sheets reason for stunted job growth: Birla
  •  Investment, not subsidies, will make farming self-sufficient: FM Jaitley
  •  Govt sees rupee at 72-73 against dollar as ‘fair value’: FinMin source
  •  PNB shareholders approve ESPS scheme; Rs 28 bn capital infusion by govt
  •  India delays retaliatory tariffs on US goods till Nov 2
  •  Lowering inflation is a major structural reform in India: IMF official
  •  SEBI shelves plan to extend equity trading hours
  •  HPCL on expansion drive with ₹60,000-cr capex
  •  5 firms interested in steel business of Usha Martin
  •  Govt plans hike in gold import duty to check rising CAD
  •  Sebi cuts mutual fund expenses, reduces listing time
  •  Sebi approves KYC norms for FPIs, new settlement mechanism
  •  Rupee closes at all-time low of 72.97 a dollar
  •  RCom to exit telecom fully to focus on realty: Anil Ambani
  •  Nestle, Unilever, Coke make bids in $4 billion-plus GSK India sale: report
  •  Tesla facing US criminal probe over Elon Musk statements
  •  Sebi mulls reaching govt for powers to intercept calls, messages of economic offenders
  •  Insurance companies to pay 12% interest to farmers in case of delay in settlement claims
  •  Crisis-ridden IL&FS under regulatory scanner for alleged corporate governance, disclosure lapses
  •  Low procurement: Early kharif crop prices below support price levels
  •  CCI imposes Rs 38cr penalty on 18 sugar mills, 2 industry bodies
  •  NSE files consent application in co-location case
  •  Trai consultation paper on fiberisation soon
  •  PFC files insolvency plea against ex-Indiabulls
  •  Petrol, diesel rates scale new highs after a day’s break

Morning Business News Round Up_ Sep 17, 2018

  •  Sebi to seek powers to intercept phone calls & msgs
  •  Govt may auction power contracts with coal supplies
  •  NCLT/NCLAT should refrain from insolvency matters: SC
  •  Indian PSUs scouting for oilfields in Russia: Pradhan
  •  IL&FS puts corporate headquarters on the block
  •  Dairy action plan requires Rs 51,077 cr, says minister
  •  Fear of telecom cartelisation ‘unfounded’: COAI
  •  Image result for E-commerceE-commerce players to pay up to 2% TDS from October
  •  Managerial positions remuneration fixation freed from govt approval
  •  New standing committee of secretaries on e-commerce starts deliberations
  •  Hindustan Power looking to acquire stressed thermal power plants
  •  NCLAT order slipped up on clearance of dues, says ArcelorMittal
  • EIL to bid to buy out govt stake in PDIL
  •  Centre provides ₹ 440 cr to NDDB
  •  Zydus Cadila gets USFDA nod to market osteoporosis drug
  •  Pawan Hans stake sale: Govt extends deadline for initial bids
  •  Voltas forays into home appliances segment
  •  SEBI may consider proposal to allow foreign entities in commodity markets
  •  Trai decides to reduce scope of regulation for WhatsApp, Skype
  •  PE investments in August at lowest in 6 months, buyouts on rise: report
  •  Producers plan legal battle after GST rate for solar power projects fixed at 18%
  •  Diageo looks at small towns to grow premium scotch portfolio
  •  Railways eyes ₹15,000 crore in 10 years from non-fare revenue
  •  SC observation: ‘NCLT must not step in at every stage
  •  PNB branch issued unauthorised LoUs worth Rs 6,498 cr to three Nirav Modi firms, finds SFIO
  •  Atlas Copco India to focus on industrial business
  •  Four states show interest in buying power sans PPAs
  •  Ben Bernanke admits Fed made mistakes combating financial crisis 10 years ago
  •  Bank credit rose by 13.49%; deposits by 8.9%
  •  CIL may shut 53 mines on safety grounds
  •  Jivi Mobiles to make smartphones, to invest Rs 100 cr on facility
  •  Sebi seeks power to intercept calls of economic offenders
  •  111 more brokers under Sebi lens for role in NSEL scam

Morning Business News Round Up_ Sep 12, 2018

  •  RBI nominee should not be on PSU boards: Rajan
  •  Choksi diverted over Rs 3,250-cr to foreign shores: ED
  •  RBI gave a list of big fraud cases to PMO: Rajan
  •  US to probe M&M over Fiat Chrysler Jeep complaint
  •  Image result for ibbiIBBI working on group insolvency norms: MS Sahoo
  •  Doubling limit for DRT may expedite loan recovery
  •  National Fund set to buy IDFC infra debt fund
  •  Regulatory policies pose top risk to India Inc: Study
  •  Power NPAs: SC transfers all pleas challenging RBI notification to itself
  •  Suzlon to offload 49% stake in two solar projects in Maharashtra to CLP
  •  Reliance Capital posts Rs 2.72 bn profit in Q1, total income at Rs 46.41 bn
  •  I-T dept sells more shares of Cairn Energy to recover Rs 102 bn retro tax
  •  ArcelorMittal’s raised offer for Essar Steel plunges shares by 2.6%
  •  Centre to invite proposals to set up NBFC for food processing sector
  •  Panel of secretaries reviewing e-commerce draft to focus on FDI
  •  Real Effective Exchange Rate slips to 114.5 in August on falling rupee
  •  Goodricke in talks to buy two tea estates from McLeod
  •  HCL Tech’s buyback offer to start on Sep 18
  •  BPCL to skip Iran oil purchases in October
  •  Tata Power to offer suite of services in rooftop solar drive
  •  RBI nominee on PSU boards create illusion of regulatory control: Raghuram Rajan
  •  Distancing govt from PSBs will help avert NPAs: Rajan
  •  Reliance Jio to use Hughes satellite to provide 4G services in remote, rural areas
  •  Vijay Mallya to return to UK court for extradition hearing
  •  Ind-Ra downgrades IL&FS Financial Services on liquidity pressures
  •  Yes Bank raises USD 400 million through syndicated loan facility
  •  Blaupunkt to invest USD 300 million in India on TV business
  •  Corruption costs $2.6 trillion or 5 per cent of global GDP, says UN chief Antonio Guterres
  •  SC to hear ArcelorMittal plea against NCLAT order today
  •  Passenger vehicles sales skid 2.46% in August
  •  PSBs asked to set up one platform for sale of defaulters’ assets
  •  Rs 4L cr investor wealth wiped off in two days

Morning Business News Round Up_ Sep 11, 2018

  •  Govt may allow cos to sell oil & gas to affiliates
  •  Over-optimistic bankers responsible for NPA: Rajan
  •  Govt says no to excise relief for fuel prices
  •  Related imageArcelorMittal submits revised bid for Essar Steel
  •  Rupee not to go in for free fall: Raghuram Rajan
  •  Last date for July-Sep GSTR-1 extended till Oct 31
  •  India wants trade deal with US: Donald Trump
  •  Rupee: Govt in touch with RBI for mkt intervention
  •  Sebi mulls allowing NRIs through FPI route after meeting specific KYC norms
  •  SBI’s plans to raise dollar funds through green bonds’ issue put on hold
  •  TGBL consolidates overseas operations as one unit, exits non-core market
  •  Debt MFs see outflow of Rs 68 bn in Aug on weak rupee, rising oil prices
  •  NCLT notice to Jaiprakash Associates over ICICI Bank claim of Rs 12 bn dues
  •  Centre pegs CAD for FY19 at 2.5% of GDP
  •  Brexit augurs well for India-UK trade talks: Graham Stuart
  •  Tata Motors global sales up 14% in August
  •  Group of secretaries on e-comm to meet on Sep 13
  •  India is the brightest spot for steel sector till 2019: Moody’s
  •  SpiceJet to launch first dedicated air cargo service on Sept 18
  •  India is standing still as global trade changes
  •  BSE, PTC, ICICI to set up power exchange
  •  Kalpataru in deal with Indian Hume Pipe to develop 15 acre Pune land
  •  GIC, Abu Dhabi Investment, Canada’s pension board in race to pick 25% stake in Reliance Home Finance
  •  Rupee closes at record low, bond yield spikes 13 bps as CAD widens
  •  Aadhar Housing Finance to raise up to Rs.1,400 crore via NCDs
  •  Sensex tumbles 468 points, Nifty ends below 11,450 after rupee crashes to 72.67/$
  •  Forging industry sees 20 percent cost rise on high power tariff: AIFI
  •  JSW Steel crude steel output grows 8% in August
  •  India’s economic growth to slow in second half of this fiscal, says UBS report
  •  Suppliers liable to pay penalty for not passing GST rate cut benefits: NAA
  •  India’s economic growth to slow in H2 of FY19, says UBS
  •  Gail, EIL, Concor to make way for new PSUs in CPSE ETF
  •  Global economic growth returns, but issues still remain

Morning Business News Round Up_ Sep 4, 2018

  •   Currency volatility to have ‘limited impact’: Fitch
  •   Banks with over 10 branches to have IO: RBI
  •   RBI unions withdraw mass casual leave plan
  •   Anil Agarwal succeeds with Vedanta Resources buyout
  •   Sebi’s income rose 25% to Rs 752 crore in FY17
  •   NCLT approves 1:10 swap ratio for ICEX, NMCE merger
  •   Investors’ complaints hit 6-year high of 43,000 in FY18
  •   Falling rupee to keep base metals costlier in India despite global lull
  •   Tepid use of funds accruing to NMET slows down mineral exploration
  •   Image result for Allahabad BankAllahabad Bank to raise about Rs 15 bn via disinvestment in non-core assets
  •   10-yr bond yield touches 8%, Rupee hits record low of 71.18 against dollar
  •   Govt allows state refiners to use Iran tankers, insurance for oil imports
  •   About 1,800 businesses apply for migration to GST regime
  •   Domestic airlines may post higher losses at $1.90 b: CAPA
  •   L&T Construction bags orders worth Rs 2,654 cr from MSRDC
  •   Relief in sight for Adani, Tata and Essar’s Gujarat power projects
  •   R-Infra wins Rs. 200-cr arbitration award against NHAI
  •   India manufacturing PMI eases in August on softer domestic demand
  •   DLF to invest over ₹ 1,400 crore in Gurugram project
  •   Vijay Mallya gets 3 weeks to file reply on ED’s plea
  •   Jindal Steel & Power studies breakup as ₹42,000 crore of debt weighs
  •   LIC board to meet tomorrow to decide IDBI Bank stake hike plan
  •   Manipal to pick up minority stake in Cigna TTK Health Insurance
  •  RBI data: Loan defaults by MSMEs doubled in last fiscal
  •  Icra keeps ratings of IDBI Bank’s bond programmes under watch
  •   Vodafone Idea raises Rs 1,500 crore via debt
  •   SBI responds to Singapore govt initiative with remittance centre
  •   Govt appears committed to fiscal discipline, consolidation
  •   Exclusive zero-debt club shines as others fight corporate debt
  •   Focused on inflation targeting, Patel took Rajan policies forward
  •   Rubber production-consumption gap widens to 58% in Q1FY19

Morning Business News Round Up_ August 30, 2018

 

  •  Related imageSupply risks building, crude oil can hit $80 a barrel
  •  DeMo achieved objectives quite substantially: Govt
  •  Airtel shareholders approve merger proposal with Tata
  •  Varde, Birla are said to create $1 bln joint venture
  •  Indian Oil earmarks Rs 22,000-crore capex for FY19
  •  Nalco pays record dividend of Rs 1,102 cr for FY18
  •  ‘Awaiting banks’ reply on Reliance Naval resolution plan’
  •  Almost all of demonetised currency came back; 99.3% returned, says RBI
  •  ICICI Bank tells Sebi it was unaware of conflict of interest
  •  Anil Ambani’s RInfra completes sale of Mumbai power assets biz to Adani
  •  Centre to ask Johnson & Johnson to pay up in hip implants case
  •  RBI urges govt to expedite reforms for twin balance sheet problem
  •  NCLAT admits Mistry’s plea against NCLT order upholding his removal
  •  Rupee slides 49 paise to end at record low of 70.59 vs dollar
  •  MUDRA launches major impact study of loans to SMEs
  •  Lanco Babandh faces insolvency proceedings; NCLT appoints IRP
  •  To reduce debt, IL&FS to go for Rs.4,500-cr rights issue, divest assets
  •  LIC Board to meet on 4 September to decide modalities for raising stake to 51% in IDBI Bank
  •  Aston Martin makes long-awaited move for IPO in London
  •  Disclose names and action taken against wilful defaulters: CIC
  •  Aditya Birla, Varde to set up $1 billion JV to buy stressed assets
  •  Tata Power-backed Resurgent set to buy 75% stake in Prayagraj
  •  Stressed power assets: Panel to discuss ARC, no fiat to RBI under Section 7
  •  IOC to invest Rs 286 crore to expand LPG bottling output in north-east India by 2020
  •  Financial fraud: Ministry of corporate affairs to crack down on firms
  •  All realty projects to eventually come under RERA ambit, says minister
  •  Nomura pegs total stressed assets at Rs 16.30 lakh cr
  •  India remains preferred destination for FDI
  •  Principal buys out Punjab National Bank in AMC
  •  Wipro bags multi-year deal with Denmark company
  •  FPIs pullout $280m, DIIs pour $10b so far this year
  •  Electrosteel Steels trade at wide gaps on bourses
  •  Vedanta corners 41 oil blocks in OALP Round-1

Morning Business News Round Up_ August 27, 2018

  •  Sebi plans to deploy technology to beef up surveillance activities
  •  40% districts in S India received deficient rainfall: IMD
  •  GE Power to shut Gujarat plant from today
  • Image result for  PSU banks PSU banks plan closure of 70 overseas offices this FY
  •  Big willful defaulter dues to PNB drop to Rs 15,175 cr
  •  Fed’s Bullard warns of recession risk in raising rates
  •  Court to hear Mallya case under new fugitive law today
  •  Sebi is working on a special policy to ensure data privacy for investors
  •  SAIL prepares to exit non-operational, non-performing joint venture firms
  •  Govt to make it mandatory for unlisted cos to issue shares in demat form
  •  Bankers burning midnight oil to resolve Rs 3.8 trn NPAs before deadline
  •  Co-working firm Awfis eyes aggressive expansion after fund infusion
  •  Rupee fall no macro worry, was long overdue: Panagariya
  •  Tax authorities left high and dry in IBC cases
  •  Five of 10 most valued firms add Rs 65,000 cr in m-cap
  •  FPIs stay bullish on India; pour in Rs 6,700-cr in Aug
  •  SEBI looking at cutting expense rate of MFs, says top official
  •  Sundaram Finance Q1 net up by 25.9%
  •  Corporate affairs ministry seeks details from crisis-hit Jet Airways
  •  Liberty House plans to turn ABG Shipyard into steel plant
  •  Listed preference shares held for 12 months qualify for LTCG
  •  Shubh Loans raises $4.2 million from Saama Capital, others
  •  51,837 industries in Delhi under National Green Tribunal scanner
  •  Jet Airways staff association flags concerns; seeks clarity on airline problems
  •  Panel reviewing penal provisions under Companies Act likely to submit report this week
  •  Anil Ambani resigns as director of Reliance Naval and Engineering
  •  Asset quality concerns at PSBs seem to be fading away
  •  Companies Act review panel report likely this week
  •  Plans to monetise PSUs’ assets put on back burner

Morning Business News Round Up_ August 24, 2018

  •  Related image Moody’s puts India growth in 2018, 2019 at 7.5%
  •   Govt imposes standard EC conditions for 25 sectors
  •   Sebi calls for reduction in TER, more competition in MF sector
  •   L&T board approves buyback of shares Rs 9,000 cr
  •   Britannia Industries to split stock in 1:2 ratio
  •   RIL first Indian co with Rs 8 lakh cr m-cap
  •   Ruchi Soya lenders approve Adani Wilmar’s Rs 6K cr bid
  •   R-Infra defaults on Rs 1.33-bn NCDs, to pay after Mumbai distribution deal
  •   STT on physically-settled derivatives: HC defers hearing in Anmi-NSE matter
  •   Trade war: US, China slap 25% tariffs on $16 bn of each other’s goods
  •   Reliance Power wins $56-mn arbitration award in Indonesia coal mine dispute
  •   Tata Sons to invest Rs 12.5 bn in Tata Capital as equity by March 2018
  •   RCom gets Rs 2,000 cr from sale of MCNs, infrastructure assets to RJio
  •   Deadline to export sugar extended by 3 months
  •   Force Motors to buy Pithampur plant of VW group co MAN Trucks
  •   Cognizant has acquired SaaSfocus
  •   New Industrial Policy to focus on jobs, push tech use, cut red tape
  •   Donald Trump predicts stock market crash if he’s impeached
  •   51% investors withdraw from equity funds within a year
  •   NDMC relaxes eligibility criteria for Taj Mansingh auction
  •   Chanda Kochhar probe report to be out in two-and-a-half months: ICICI
  •   Nestle India: Noodles good, coffee better in first half of 2018
  •   Former RBI Governor for doing away with dual control of PSBs
  •   Global recycled lead battery market to touch USD 12 billion by 2022
  •   Arun Jaitley resumes charge as Finance Minister after a 3-month hiatus
  •   MF AUM to double to Rs 50L cr in 5 years: Deepak Parekh
  •   AB-NHBM is credit positive for insurers, says Moody’s
  •   SMEs urge govt for tax relief in pre-GST cases
  •   Govt puts curbs on pvt cos for export of beach sand minerals

Morning Business News Round Up_ August 23, 2018

  •   Finmin warns PSU bank CEOs to check NPA frauds
  •   US-China trade war hits $100 billion in goods
  •   Govt imposes restrictions on import of bio-fuels
  •   ‘Global pension & sovereign funds keen on India’s REITs’
  •   Air India grappling with unsustainable debt: Prabhu
  •   Jet to take up turnaround plan in Monday board meet
  •   Colgate-Palmolive picks Bombay Shaving Company
  •   Sebi planning to add more stocks to additional surveillance mechanism
  •  Image result for tech mahindra Tech Mahindra to acquire Czech-based firm Inter-Informatics for Rs 80 mn
  •   Domestic manufacturing of mobile handset saved India Rs 3 trillion: Study
  •   Reliance General Insurance Q1 net profit up 30% to Rs 570 million
  •   Coal India likely to get a five-year breather on production target
  •   NSEL case: High Court panel confirms claims of only Rs.650 crore
  •   PMO steps in to allay concerns over e-commerce policy draft
  •   Strides receives acceptance from USFDA for two ANDAs
  •   CCI clears UltraTech’s purchase of Century arm
  •   Likely drop in kharif harvest a big worry
  •   Recession likely in three years, says Pimco
  •   Govt sets ball rolling for stake sale in NBCC, HUDCO
  •   US businesses against new tariffs on Chinese goods
  •   P&G June-quarter net profit drops 43% on higher promotional expenses
  •   Coal India’s CCL says 17 coal mining projects facing delays
  •   Small renewables firms fighting consolidation wave
  •   DIPP okays proposals to upgrade effluent treatment plants, FDDIs
  •   SBI expects Q1 GDP growth at 7.7 per cent
  •   US imposes preliminary anti-dumping duties of over 50% on metal pipes made in India
  •   Deluge may cull Kerala economy by 100 bps, says report
  •   Sebi says OPG gained Rs 25 cr from preferential access to NSE server
  •   India Inc may find loans abroad costlier as easy money ends
  •   LIC will be asked to speed up IDBI Bank acquisition process
  •   Gold jewellery exports up 220%, gold bar imports leap by 302%