Morning Business News Round Up_July 13, 2018

  •  Inflation at 5-month high in June, IIP slows
  •  HCL Tech board clears Rs 4,000 crore share buyback
  •  Tata Steel plans to sell South-East Asia operations
  •  India could climb up to be 5th largest economy: FM
  •  Iran an important partner for energy: India
  •  India becomes newest shareholder of EBRD
  •  Iran says will strive to ensure oil supplies to India
  •  India’s per capita income too low despite being 6th largest economy: NITI
  •  GIC Re trades ex-bonus in ratio of 1:1
  •  Avendus Capital leads race to acquire IDFC Mutual Funds, say sources
  •  RCom calls DoT’s approach on one-time spectrum charge discriminatory
  • Merger blues: Idea Cellular likely to move TDSAT against DoT demand
  •  L&T construction arm bags orders worth Rs 2,388 cr
  • Image result for lpg subsidy LPG subsidy jumps 60% as govt maintains prices to help consumers
  •  LIC board likely to meet next week to discuss IDBI Bank deal
  •  $63-b trade deficit untenable, India tells China
  •  Airtel Payments Bank gets RBI, UIDAI nod to resume taking new customers
  •  HIL Ltd to buy Parador Holdings of Germany
  •  1,000 NPA accounts under scanner in ICICI Bank probe
  •  India’s fuel demand up 8.7% in June, gasoline sales rise by 14.9%
  •  With US trade under a cloud, China opens to Indian pharma
  •  GE commissions first leg of grid-stabilisation system for PowerGrid
  •  World oil supply risks being ‘stretched to limit’: IEA
  •  CCI dismisses complaints against Google; chairperson gives dissent note
  •  RCom alleges govt of bias in Idea-Vodafone merger case; DoT denies charges
  •  Tata, Fortum win Karnataka solar tender for Rs 2.85/unit
  •  LPG subsidy a distortion, provide fuel-agnostic cooking sop: NITI Aayog
  •  States fail to meet fiscal targets for third year: RBI
  •  Brokers barred from taking cash from clients
  •  NCLAT rejects Liberty House plea to stay resolution process of Bhushan Power
  •  Tata-Mistry feud: Chairman doesn’t enjoy a free hand, says NCLT
  •  Russia tightens grip on Europe’s gas
  •  Government to forego nearly Rs 6,000 crore locked in tax disputes

Morning Business News Round Up_July 12, 2018

  •  Telecom Commission clears new telecom policy
  •  CEA praises Raghuram Rajan for identifying NPA issue
  •  LIC-IDBI Bank deal may conclude by September
  •  FinMin may relax data storage rules for payment cos
  • Image result for pepsico Maha: PepsiCo to develop infra to recycle plastic
  •  IHH set to win Fortis, values it at Rs 9,335 crore
  •  NATO countries must pay 2% of GDP: Donald Trump
  •  Start reducing oil prices or expect demand to sink, India warns OPEC
  •  Sebi not averse to the merger of exchanges, says Chairman Ajay Tyagi
  •  In Round 2 of trade war, US plans 10% tariffs on $200-bn Chinese goods
  •  Sterlite Power wins six transmission projects in Brazil, to invest $2 bn
  •  Bajaj Hindusthan to sell 17.51% stake in group’s power firm LPGCL
  •  Private equity, VC investments cross $15 b in H1
  •  Ministers’ group not in favour of sugar cess
  •  Net neutrality gets telecom panel’s nod
  •  BSNL starts first internet telephony service in India
  •  Vistara to buy 19 Airbus, Boeing planes worth $3.1 billion
  •  Trading halts on MCX briefly due to technical glitch
  •  India replaces France as world’s 6th biggest economy
  •  IndusInd Bank’s first quarter show underscores its premium valuation
  •  Adani, GAIL among 400 bidders for city gas licenses
  •  Brookfield in talks to acquire Altico stake
  •  Petrol, diesel cars may be taxed more to push electric vehicle sales
  •  Sebi paper soon on large firms tapping bond market
  •  Chief Economic Advisor Arvind Subramanian rules out a single rate GST
  •  US drugmaker Pfizer Inc to split company into three units
  •  Single data breach costs nearly Rs 12 crore in India, says IBM study
  •  GMR sans SkyTrax rating disqualified for Philippines airport project
  •  Pakistan’s indebted economy heads toward another IMF bailout
  •  India cuts Iranian oil imports by 16% in June to 592,800 bpd
  •  Rupee to stay in 68-72 range near-term: UBS
  •  GST on some more items to be cut
  •  Banks fear Mudra loans sans Collateral may become NPAs
  •  Govt mulls 1% cess on luxury items to build farm corpus

Morning Business News Round Up_July 11, 2018

  •  RBI sells a record $12 billion to salvage the rupee
  •  I&B Min seeks data on job creation from 10 ministries
  •  TCS profit grows 23% to Rs 7,340 crore in Q1
  •  India maintains position as top IT exporter
  •  MPC to continue with 3-day format for policy meet
  •  Patanjali not to back out from race to buy Ruchi Soya
  •  Vedanta to bid for coal mines in India: Anil Agarwal
  •  Easiest to do business in AP, Telangana and Haryana; Delhi scored very low
  •  Image result for indusind bankIndusInd Bank Q1 up by 24% at Rs 10.36 billion, asset quality falls
  •  Maruti gains market share to 53.54% in Q1; Tata Motors pips Honda Cars
  •  Reliance-BP JV seeks licence to retail gas in 15 cities, IGL bids for 13
  •  China hikes anti-dumping duties on US optical fibre seven fold to 33.3%
  •  Steel Ministry fears US tariff on imports will result in cross dumping
  •  JSW Steel revamps acquisition strategy after recent setbacks
  •  Maruti Suzuki retains top spot, gains market share in Q1
  •  15 firms commit to cut salt, sugar and fat in their products
  •  India, South Korea set target of increasing trade to $ 50 bn by 2030
  •  NCLAT defers Binani Cement insolvency case hearing
  •  Passenger vehicle sales rise 38% in June; car sales up 34%
  •  PNB, Carlyle Group to offload 51% stake in PNB Housing Finance
  •  LIC unions oppose acquisition of IDBI Bank by insurer
  •  Tata Motors acquires 26% stake in freight start-up TruckEasy
  •  Airtel to launch pre-5G Massive MIMO technology in key Kolkata hubs
  •  India imposes anti-dumping duty on Chinese polyester yarn
  •  Tata Motors to launch 12 new models: Will invest Rs 12,000 crore over next three years in India
  •  Cement firms’ operating margin under pressure
  •  Govt dividing retail trade with new e-commerce policy: RAI
  •  Jio Institute’s Institution of Eminence tag conditional: Govt
  •  Natural gas may come under GST earlier than expected

Morning Business News Round Up_July 10, 2018

  •  DoT clears Idea-Vodafone merger with conditions
  •  PE/VC inflows jump 46% in H1, cross $15 billion: Report
  • Image result for agri marketing PM may announce 3 new agri marketing reforms
  •  Jio’s broadband service to impact MSOs, DTH players
  •  9th CGD bidding may fetch Rs 70,000 cr investments
  •  HCL Tech to consider share buyback on Thursday
  •  ‘China could hurt US once it ran out of imports to tax’
  •  India Inc to post 12.8% revenue growth in Q1; highest in three years
  •  Foreign Secretary Boris Johnson quits UK govt in mounting Brexit crisis
  •  RBI raises Centre’s WMA advances to Rs 700 bn for July-September quarter
  •  Liberty House moves NCLAT, seeks info on bids from Bhushan Steel lenders
  •  SIDBI targetting MSME lending of Rs 1.40 trillion during current fiscal
  •  Warren Buffett starts to say goodbye to a pile of equity-index options
  • SAARC Development Fund plans cross-border e-commerce platform
  •  Centre plans to set up fisheries infrastructure development fund
  •  India, South Korea agree on early reduction of tariffs on 11 items
  •  Lupin gets USFDA nod for generic malaria drug
  •  I-T dept sells part of Cairn shares to recover retrospective tax
  •  IHH Healthcare likely to seal Fortis deal with ₹ 4,700-5,400 crore bid
  •  3 PE firms in talks to buy stake in Glenmark API business
  •  UPL set to acquire Arysta LifeScience for over  $4 bn
  •  NCLT rejects Cyrus Mistry’s plea against Tata Sons
  •  Samsung opens world’s largest mobile phone factory in Noida
  • 46 amendments to GST law on anvil; employers may get to claim ITC on food, transport
  •  HCL Technologies gets government’s nod to set up SEZ in Andhra Pradesh’s Vijayawada
  •  Electric Maruti Suzuki Alto, Swift soon! Suzuki aims to sell 15 lakh electric cars in India.
  •  Summer crops acreage falls; July rain critical for sowing
  •  Mistry to appeal against order
  •  Xiaomi makes weak debut after big-bang IPO
  •  Industrial credit stagnant at Rs 27L crore

Morning Business News Round Up_July 09, 2018

  •  CCI dismisses complaint against IOCL, BPCL, HPCL
  •  China’s e-commerce players value Indian mkts: Report
  •  PNB’s wilful defaulters dues fall to Rs 15,354 cr
  •  Investors adopting ‘wait and watch’ approach on India
  •  GST: GoM favours deferment of sops for e-payments
  •  PSBs to raise Rs 50K crore equity capital in FY19
  •  Image result for jp associatesJP Associates gets Rs 2,850 crore contract in J&K
  •  India reconsidering Rs 2 trn 5th generation fighter jet project with Russia
  •  ONGC postpones KG basin project to Dec 2019; oil production by March 2021
  •  CBI looks for banking, tax experts to help probe in multi-billion scams
  •  Curb ‘high-pitched’ assessments against taxpayers: CBDT to I-T dept
  •  Auditor Deloitte raises red flag over Fortis Healthcare’s financial results
  •  Statutory auditor certificate must for companies raising public deposits
  •  GST discount on digital payments deferred
  •  ICICI Prudential MF to seek clarity from SEBI on its ICICI Securities IPO
  •  India to tell US not to judge ties on the basis of trade deficit
  •  Central agency must be set up to evaluate big loan proposals: ICAI
  •  Trai’s public WiFi model breaches Telegraph Act: COAI
  •  Fundraising via IPOs doubles to ₹ 23,670 crore in 1st half of 2018
  •  Ashok Leyland plans to take its Optare electric bus to new markets
  •  GSPC to commission Mundra LNG terminal in 2-3 months
  •  US oil sellers may look to India as China tariff war escalates
  •  Vijay Mallya shrugs off threat of British asset seizures
  •  Swedish furniture major IKEA to open first store in Hyderabad on July 19
  •  Pharmaceutical sector may post 17% revenue growth in June quarter, says Report
  •  IMPS fund transfer doubles to Rs 3.23 lakh crore in Q1 of FY19
  •  PNB confident of exceeding FY19 recovery target of Rs 22K cr
  •  Samsung to set up largest mobile factory in Noida
  •  BSNL first telco to start Net telephony, prepaid landline billing
  •  Hero Cycles plans acquisitions in Brazil, eastern Europe
  •  Fund-raising via IPOs nearly doubles in H1

Morning Business News Round Up_July 06, 2018

  •   Rupee crumbles to fresh all-time low of 68.95
  •   London court orders seizure of Mallya’s UK assets
  •   Iran tells Trump to stop tweeting about oil prices
  •   Centre may infuse fresh capital into Air India: Report
  •   Ambani kids unveil telecom’s biggest game-changer
  •  Image result for TRAI TRAI issues changes to interconnect regulations; tweaks norms
  •   India looks to acquire Lithium & Cobalt mines abroad
  •   Chanda Kochhar asked to reply to Sebi show cause notice by July 10
  •   City gas distribution licensing: India expects multiple bids on July 10
  •   Banks finalise inter-creditor agreement to fast track NPA resolution
  •   SAIL raw material division logs record iron ore output, despatches volumes
  •   Tata Projects bags Rs 30 billion Bharat Net project in Chhattisgarh
  •   Difficult to predict end of pricing pressure in US: Dr Reddy’s
  •   Auto verification under GSTN likely by month-end: DGFT
  •   Benefits portability likely for construction workers
  •   Garment exporters expect GST refund of ₹4,000 cr
  •   Ceat inks pact with Tamil Nadu for ₹4,000-crore greenfield tyre
  •   Orb Energy to double manufacturing capacity of solar photovoltaic panels
  •   Reliance Industries bets on Jio to double sales in 7 years
  •   Rupee slumps to an all-time closing low versus US dollar
  •   Liberty House’s resolution plan for Adhunik, Zion gets lenders’ nod
  •   Supreme Court gives nod for auction of three Unitech properties worth ₹600 crore
  •   Gujarat Gas looking to buy GAIL Gas’s stake in VGL for ₹200-250 crore
  •   India records double-digit air passenger growth for 45th consecutive month in May: IATA
  •   Kalyan Jewellers to invest Rs 1,000cr to open 20 stores in FY19
  •   China push to end reliance on US technology at trade fight’s core
  •   Russian search engine alerts Google to possible data problem
  •   MMTC-PAMP seeks gold coin sales by banks again
  •   SBI raises market share in housing mortgage biz
  •   Coal inventory improves, power generation up
  •   Petrol, diesel prices hiked as global crude rates firm up
  •   Bank credit grows at 12.84%, deposits 7.59%

Morning Business News Round Up_July 03, 2018

  •  Govt rules out bad bank, unveils five-point plan to clean NPA mess
  •  DoT seeks sale details of Tata Tele-Bharti Airtel deal
  •  Chasing all defaulters may hit economy: Gadkari
  • Image result for ICICI Pru MF Return Rs 240-cr to investors: Sebi to ICICI Pru MF
  •  Amazon closes on Apple in the $1 trillion stake
  •  ONGC gives nod to explore group restructuring options
  •  Vedanta Resources delisting: Anil Agarwal retains control via Volcan
  •  Insolvency process: SC asks Binani Cement pleas to be moved to NCLAT
  •  ITC to follow asset-light strategy for expansion of hotel biz: Sanjiv Puri
  •  India reduces duties on 3,142 imports from China, Asia-Pacific nations
  •  Tata Steel to buy more iron ore from OMC after Bhushan Steel takeover
  •  Kharif output may be down a tad at 137.73 mt
  •  Core sector growth slips to 10-month low in May
  •  Iran oil: Sushma Swaraj to take a call on India’s stance
  •  Goyal expects fiscal deficit to be lower than Budget Estimate in FY19
  •  Motown boom moulding good growth for forging industry
  •  India can export up to 5 GW wind energy by 2022: Tulsi Tanti
  •  NCLT reserves order on Srei Infra’s plea against Sterling units
  •  Walmart says Flipkart acquisition in line with India’s FDI policy
  •  HUL raises stakes in battle against trademark violation
  •  Lenders keen to offer Uttam Galva units to single bidder
  •  Everstone’s Everfoods buys Cookie Man owner
  •  Dell Technologies to buy out VMware tracking stock
  •  Government may bring in tougher premium rule to limit hike July
  •  Air India sale will be determined by market conditions, says PM Narendra Modi
  •  Retail inflation for industrial workers remains flat at 3.96 per cent in May
  •  Infra sector growth dips to 10-month low of 3.6% in May
  •  India to provide tariff concessions on 3,142 items to APTA members
  •  Board okays restructuring of ONGC firms
  •  VFS get PE funding from Capital First
  •  Ceramic tiles industry eyes double-digit growth

Morning Business News Round Up_July 02, 2018

Tata Steel to get debt relief from Thyssenkrupp deal

India seeks ways to continue Iran oil imports

GST impacted direct tax collection as well: Jaitley

NCLT verdict on Tata-Mistry feud on July 4

FDI growth hits five-year low in 2017-18

TRAI fines telcos for not meeting service quality norms

ATF price cut by 2.7% on falling global rates

PAN-Aadhaar linking deadline extended till March 2019

Related imageRoyal Enfield records sale of 74,477 units in June, growth up by 18%

Adani Group plans to raise up to Rs 60 bn via securities, stake sales

Iran vows to thwart US efforts to block its oil exports, warns Saudi Arabia

Govt will soon come out with definition for shell companies: P P Chaudhary

GST collections rise to Rs 956 bn in June, to reach 1 trn: Hasmukh Adhia

Maruti Suzuki’s June sales up 36% at 1,44,981 units

Dr Reddy’s recalls 2.36 lakh bottles of cholesterol lowering tablets from US

KYC to be made mandatory for directors by Aug 31: Ministry

GST implementation in India not disruptive, says Jaitley

Wal-kart deal: Trader protest across India

‘Too many regulations stifle insurance sector growth’

RBI’s Sudarshan Sen warns bankers against non-compliance

Zydus Cadila gets USFDA nod for blood pressure drug

Coal India misses June production target by 7.9 MT

Insurance firms, banks want to be a part of India’s roads growth story

PNB hikes lending rates by up to 10 basis points

China’s manufacturing activity slips amid trade war with US

Government forms panel to upgrade norms for state, district level economic data collection

RBI, Finance Ministry must step in to curb rupee depreciation, says Assocham

Tata Steel to continue to evaluate, pursue growth opportunities in India

MSP hike to hit exports badly

Crude Oil unlikely to touch $90 at once

Bank consolidation back on the table

Sahara confident of getting out of financial constraints by FY19

Vodafone gears up to challenge fresh spectrum fee demand

Morning Business News Round Up_June 28, 2018

  • India to build two more strategic petroleum reserves
  • Thyssenkrupp, Tata Steel near compromise on JV talks
  • H-1B visa rules to hit Indian IT cos’ margins: ICRA
  • Govt plans to sell Air India’s Mumbai building to JNPT
  • Related imageAllahabad Bank seeks Rs 7,000 crore from government
  • Govt hikes ethanol price by Rs 2.85/litre for 2018-19
  • Automakers warn US tariffs will cost thousands of jobs
  • Singaporean FM asks NSE, SGX to resolve differences, serve investors
  • Fortis probe finds systemic lapses, to recover Rs 5 bn from Singh brothers
  • JSW Steel to invest Rs 75 bn in Karnataka to expand Vijayanagar facility
  • Trai to penalise telcos for call drop violations in March quarter: Chief
  • Rs 20 bn GST evasion in 2 months, less than 100,000 paying 80% of tax
  • Export push: ECGC, NEIA to get more capital support
  • India cautious on China move to reduce import tariffs on goods
  • Fortis lent Rs 494 crore to promoter companies despite management objections
  • UST Global turns ‘unicorn’ with $250-m Temasek funding
  • Telecom sector revenue dips 1.7%, licence fee falls 12.7% in March
  • NCLAT refuses to stop Vedanta from delisting Electrosteel
  • Rupee nears record low on rising oil prices, trade war
  • Mindtree founders may sell entire stake to NEC Corp., private equity firm
  • SBI to shut 9 foreign branches as part of rationalisation: Pravin Gupta
  • Oil prices rise on supply losses, US push to isolate Iran
  • India needs to lower trade barriers: US diplomat
  • Reliance Jio enters a new league, crosses 200 million user mark
  • Retail lending up 25%, number of accounts over 32% in FY18: Cibil data
  • India no longer poor people’s country, 44 Indians pulled out of poverty every minute, says study
  • End oil imports from Iran by Nov 4, US to India
  • India’s quest to find a trillion-dollar nuclear fuel on the Moon
  • Volvo-Eicher eyeing more marketshare with two new trucks
  • ITC’s Savlon campaign bags coveted Grand Prix at Cannes Lions 2018
  • Govt confident LIC-IDBI deal will conclude by Sept

Morning Business News Round Up_June 21, 2018

  •   B Sriram, SBI MD to take additional charge of IDBI Bank
  •   US current account deficit widens to 2.5% of GDP
  • Arvind Subramanian livened up the Economic Survey
  • RBI Guv, others voted for rate hike on inflation risks
  • Acid leak severe at closed Tuticorin plant: Vedanta
  • Bank of Maharashtra CEO arrested for Rs 3,000-cr fraud
    Image result for AIIBAIIB ready to pump in $1.9 billion more for India 28 cos announce buyback plans aggregating Rs 213 billion
  • BHEL bags orders worth Rs 10 bn from Telangana State Power Generation Corp
  • Tata Motors eyes Rs 19 bn cost cuts, to launch 50 variants in CV segment
  • FIIs see bumpy ride; DIIs pump in $7.9 bn investments this year: Report
  • Infra, realty firms face refinancing test of Rs 3-4 trillion: Ind-Ra
  • 28% GST plus VAT likely to be levied on petrol, diesel
  • Centre seeks comments on draft policy on cross-border insolvency
  • Hinduja Leyland Fin revives IPO plan; files papers with SEBI
  • RITES IPO subscribed 60% on Day 1
  • Govt relaxes deadline for executing solar power projects
  • Cipla hits over 4-month high on US FDA nod for generic HIV drug
  • MPC minutes give no indication of future rate action
  • Real estate, hotel companies line up to tap equity markets
  • Bosch to invest Rs1,700 crore in India over next 3 years
  • Oil prices rise on US stocks, Libya ahead of Opec meeting
  • India wins in cotton market as US-China trade dispute escalates
  • Taj Hotels wins bid to run The Connaught for 33 years
  • Niti Aayog is India’s action tank: Vice-chairman Rajiv Kumar
  • Doubling farm income by 2022: Modi government’s big budget boost to agriculture sector
  • Government receives bids for Pawan Hans stake sale
  • Government clears Rs 38,062 crore refund claims of exporters till June 16
  • Kharif sowing down by 74.16% in Gujarat
  • Idea-Vodafone merger set to receive govt nod
  • MSMEs account for 23% of industrial credit at Rs 12.6 trillion
  • Great leap forward in power generation
  • SBI sees 50% haircut from 1st list of IBC cases