Morning Business News Round Up_June 19, 2018

  •  Chanda goes on leave, ICICI puts Bakhshi in charge of operations
  •  IOC in talks with US cos for term deals to buy 1MT oil
  •  Led by pvt sec lenders, bank credit up 3.4% in Dec qtr
  •  London & other cities call for new petrol car ban
  •  Discom losses down 70% to Rs 17K cr, says report
  •  Vectus Industries files for Rs 500 cr IPO with Sebi
  •  Govt to subsidise finance and insurance cost for sugar buffer stock
  •  Image result for EPFOEPFO proposes move to ban full withdrawal of PF savings
  •  Arun Jaitley hints no cut in excise on oil, asks citizens to pay taxes
  •  Lupin, Nichi-Iko to commercialise arthritis biosimilar in Japan
  •  Piramal to back Chennai-based Appaswamy group, sanctions Rs 2 bn facility
  • Need to increase tax-GDP ratio by 1.5% points: Jaitley
  • Automakers’ capex pegged at Rs 58,000 cr for next two years: Crisil
  •  NCLT grants additional 20 days for Adhunik Metaliks to complete insolvency resolution process
  •  AU Small Finance Bank to raise ₹1000 crore from Temasek
  •  Recharging Eveready: Company seeks to halve debt by selling land
  •  ED wants ‘fugitive’ tag for Vijay Mallya
  •  RBI wants banks to discipline Indian corporates on working capital
  •  TCS share buyback shows absurdities of India’s repurchase rules
  •  HDFC Bank may rely on Indian market for $2.3 billion share sale
  •  Distressed asset funds eye buyout deals ahead of bankruptcy process
  •  GST formalising economy, widening tax base, says Finance Ministry
  •  TCS sets up new delivery centre in Paris that can accommodate up to 230 employees
  •  Retail-focused NBFCs may need up to Rs 4 trillion fresh debt to grow at 20% in FY19: Report
  •  Irdai sets up panel to review norms for insurance marketing firms
  •  Govt to list RVNL, IRFC in Q2
  •  RBI proposals on large loans to improve fund management: SBI
  •  Indians face 25% higher risks to financial fraud
  •  Brokerages seek tax incentives for offshore trades
  •  Gujarat NRE may get a new lease of life

Morning Business News Round Up_June 15, 2018

  •   India may seek exemptions from US to buy Iranian Oil
    Image result for mergers and acquisitionsGovt Rs 2.1K cr guarantee to clear merger: DoT to Idea
    India may begin Nirav’s extradition process in UK
    Adani Wilmer decides not to revise bid for Ruchi Soya
    ICICI Bank invokes insolvency code against Punj Lloyd
    Pvt sector banks to wean away share from PSBs: Kotak
    Govt to help Air India with liquidity: Jayant Sinha
  •   Steel units seek easier norms for expeditious auction of mineral blocks
    Seafood exports may hit all-time high of $6 bn on strong volumes: MPEDA
    Karnataka iron ore offtake falls sharply, only 25% of NMDC’s output sold
    Fortis Healthcare scraps Fortis Malar Hospitals, SRL merger scheme
    Aircel, two sister entities under SFIO lens for financial irregularities
    UK car industry faces threat of post-Brexit ‘extinction’
    Wholesale inflation jumps to 14-month high of 4.43% on dearer fuel, vegetables
    Alembic Pharma gets USFDA nod for antibiotic drug
    Gadkari to meet banks to sort out issues of fund flow to road projects
    Sebi plans revised norms to recover investors’ money
    Fine Organic to launch Rs600 crore IPO on 20 June
    Govt presses on with plan to sell IDBI Bank stake
    Advertising spend will grow 10.5% to Rs.62,400 crore in 2018: Dentsu
    NSE looking to ease start-up listing norms
  •  Maharashtra electricity regulator MERC reserves order on Rs 18,000 crore R Infra-Adani deal
    Marg ERP expects 50% business growth in Fy19
    PM Narendra Modi dedicates SAIL’s upgraded Bhilai Steel Plant to the nation
    Public Wi-Fi networks without licence violate law, says COAI
  •  India expects growth in G&J exports as China slashes tariffs by 65%
    Just 1% growth in premium for pvt insurers in Apr-May
    Only 32% Indians make financial transactions online

Morning Business News Round Up_June 14, 2018

  •  US Fed raises rates second time in a year, signals two more hikes
  •  Cabinet approves HDFC Bank’s fund-raising plan
  •  India & China may join hands to cut OPEC’s dominance in oil market
  •  PNB scam proceeds mainly went to NiMo’s kin: ED
  •  Government open to the idea of listing Air India
  •  ICICI Bank to sell 2% stake in life insurance arm
  •  RBI official asks NBFCs to meet MSMEs’ funding needs
  •  Bayer begins process to buy up to 26% stake in Monsanto for over Rs 13 bn
  •  HDFC 5th biggest consumer financial services company globally: Forbes
  •  India’s CAD triples to 1.9% in Q4 year-on-year, pegged at 1.6% in FY18
  •  Sebi panel to examine direct listing of Indian firms on overseas bourses
  •  Oil prices slip on rising supplies in US; Opec may relax output cuts
  •  TCS to consider buyback of shares on June 15
  •  PNB’s capital adequacy falls below regulatory requirement
  •  PM Awas Yojna: Govt raises carpet area up to 2,100 sq ft for interest benefit
  •  Fitch raises India growth forecast to 7.4% for FY’19
  •  BSNL launches FTTH broadband plans to counter competition
  •  FIIs look to build on India’s realty market as SEBI clears six REITs
  •  India, US to hold extensive talks to address trade issues
  •  Fitch downgrades viability rating of SBI, BoB on poor asset quality
  •  Hindusthan National Glass sells its entire 11.23% stake in HNG Float Glass
  •  Blackstone raises $9.4 bn for Asia realty, PE funds
  •  Bitcoin hits 4-month low after currency exchange theft
  •  Truecaller buys Chillr, looks to expand digital payments services
  •  Reeling under debt of around Rs 45k cr: Jobs at Reliance Communications reduced by 94%
  •  ‘Securitisation volumes down 7.2% in FY18 on GST ambiguity’
  •  DoT asks telcos to tweak systems for use of virtual IDs, limited KYC
  •  Spending on medicines alone pushed 38 million people to below poverty line, says report
  •  Bharat 22 ETF to raise Rs 8,400 cr from new issue
  •  Only 32% Indians make financial transactions online
  •  India has just a decade to become a developed nation: SBI
  •  Hong Kong branches of PNB, IOB under lens

Morning Business News Round Up_June 12, 2018

  •  RBI releases norms to modify loan system for borrowers
  • Related image Cash-rich RIL looks to raise $3 bn as debt matures
  •  ‘UK confirms Nirav Modi’s presence in Britain’
  •  Court admits insolvency plea against Sterling Biotech
  •  Real estate cos staring at Rs 20K cr hole in their books
  •  Fortis defers approval of Q4, FY18 results to June 25
  •  Patanjali, Adani submit bids to buy Ruchi Soya
  •  Once flush with $4.3 bn, ONGC has shed 90% of its cash to feed oil demand
  •  Banks to face bigger challenges than NPAs in the coming years, says SBI
  •  Government to ensure coal availability to power plants: Piyush Goyal
  •  RBI Governor Urjit Patel likely to appear before parl panel on Tuesday
  •  PSBs may see Rs 180-200 billion mark-to-market losses in Q1FY19
  •  Infosys gets nod to delist from Euronext Paris, London
  •  Monsoon heads for a break after delivering 18% surplus
  •  Gujarat millers seek govt support to popularise groundnut oil
  •  L&T Construction bags orders worth Rs 2,210 cr
  •  Vedanta acquires management control of Electrosteel Steels
  •  Maruti Suzuki launches water ATM in Manesar in CSR initiative
  •  RBI to raise $30-35 billion via NRI bonds to support rupee: Report
  •  Elliott urges Thyssenkrupp to negotiate better Tata Steel deal
  •  Once cash rich, India’s demands erode 90% of ONGC’s war chest
  •  D-Mart parent hits Rs1 trillion market cap
  •  India’s petrol, diesel demand rise to record highs in May
  •  Bharti Airtel to increase mobile sites in TN by 30%
  •  More banks unlikley to come under RBI corrective action, says finmin official
  •  PM Modi to dedicate to nation SAIL’s expanded steel plant at Bhilai on June 14
  •  Tata Power bags 150 MW solar project in Maharashtra
  •  Over Rs 7000 cr GST refunds of exporters cleared
  •  No intent to control sugar sector; just helping mills clear cane arrears: Govt
  •  Sebi orders probe into ASM list leak
  •  Allahabad Bank refers Rs 12,566cr accounts to NCLT
  •  Rapid rise in demand led to feeling of coal shortages: Goyal

Morning Business News Round Up_June 11, 2018

  • RBI seeks fortnightly update on payments data storage
  • Total net loss of PSBs topped Rs 87K cr in FY18
  • Power woes: Goyal to hold high-level meet today
  • India to soon start making lithium-ion batteries
  • PNB expects Rs 8,000 cr recovery from NPAs this month
  • CCI may suggest changes in Walmart-Flipkart deal
  • GDP growth at sobering 6.7 per cent: Chidambaram
  • Image result for sbiSBI to auction 12 NPA accounts on June 25 to recover dues of over Rs 13 bn
  • Violence cost India’s GDP over $1 trn in 2017; $595 per person: IEP report
  • ICICI Bank, Kochhar under lens in US, Indian agencies may seek foreign help
  • Iron ore accumulates at Karnataka mines as steel cos opt for imported ore
  • GVK Group may file DHRP with SEBI for its airport vertical IPO next month
  • Currency with public hits record high post demonetisation
  • Diversified shareholders mechanism could be an option for Air India sale
  • NBFC must implement Ind AS from April 1: Govt
  • 6 of top 10 most valued firms add Rs 60,208 cr in m-cap
  • Arbitration award in Reliance-ONGC gas row next month
  • RITES to buy 25% stake in IRSDC for ₹250 crore
  • Tata Motors open to stake sale in finance arm TMFL, aims Rs50,000 crore AUM by 2020
  • Govt weighs various options to bring down its stake in IDBI Bank
  • NCLT gives 90 more days for Ruchi Soya insolvency resolution
  • Companies under insolvency process to face additional surveillance from 11 June
  • Insolvency & bankruptcy: Focus on resolution and not liquidation, says IBBI chief MS Sahoo
  • Number of air passengers has gone up to more than 10 cr: Jayant Sinha
  • NTPC to acquire power plants of Jaiprakash Power and Jindal India
  • Industry expects close to 8% GDP growth over next two years: CII
  • India mulls new group in WTO to work on future plans
  • Listed companies may see recovery, clock 17-18% growth in FY19
  • BSNL to borrow Rs 4,300 cr in FY19
  • High demand, low stocks to keep Mustard prices firm
  • Optimism on job scenario fades, shows RBI survey

Morning Business News Round Up_June 8, 2018

  •  Labour Ministry puts on hold quarterly jobs survey
  •  China’s new policy may delay India’s solar panel plan
  •  No salary hike for Mukesh Ambani for 10th year in a row
  •  Image result for loan goes upEMIs for auto, home loans to go up as banks hike rates
  •  Interest on unclaimed funds lying with banks cut to 3.5%
  •  Piyush Goyal to meet heads of PSU banks today
  •  Rupee falls 20 paise to come off 1-month high
  •  FDI inflows to India declined by 9% to $40 bn in 2017: UN report
  •  Modi govt may cut capex to stick to 3.3% fiscal deficit, says Moody’s
  •  Air India seeks Rs 10 billion loan to meet urgent capital requirements
  •  GST exclusion costs oil industry Rs 200 bn input credit annually: Pradhan
  •  Govt’s sugar bailout package to clear 40% of Rs 220 bn cane arrears: Crisil
  •  Auditing regulator NFRA likely by Sept
  •  Global economy well-positioned to absorb rise in oil burden: Morgan
  •  FDI inflows to India fall by $4 billion last year: UN report
  •  Oilmeal exports down 8% in first two months of this fiscal
  •  Modi, Xi to hold bilateral on sidelines of SCO meet
  •  Southwest monsoon unleashes its emerging virulent phase over
  •  Equity mutual funds qualify for LTCG tax in 1 year, debt funds in 3 years
  •  GMR Infrastructure struggles to take wing in turbulent skies
  •  Adani, Resurgent among 4 bidders for Avantha Power subsidiary
  •  NCLAT allows James Warren to bid for Assam Co.
  •  JSW Energy submits EoI for Bhushan Energy’s assets
  •  Reliance Industries Limited’s telecom arm Jio aims to cover 99% India’s population by fiscal-end
  •  Tata Motors proposes to raise up to $500 million via ECB
  •  Short-term subsidised crop loan to be under DBT mode, says RBI
  •  China’s May FX reserves slip to lowest in 7 months as dollar gains
  •  CBIC introduces PAN-based refund clearances for exporters
  •  Bharti sells Future Retail stake for Rs 1.7K cr
  •  SEBI takedown of rogue manipulators continues
  •  ICICI Bank may file consent plea in Videocon loan case

Morning Business News Round Up_June 6, 2018

  •   After Air India fiasco, government rethinks IDBI stake sale
  •   Income tax demand is not justified, Cognizant tells HC
  •   Employees of blue-chip companies under Sebi lens for WhatsApp leaks
  •   TRAI rebuts DoT objections to in-flight connectivity
  •   Trade war a ‘lose-lose’ situation: Raghuram Rajan
  •  Related image Patanjali cancels proposed Rs 6,000-crore mega food processing park in Uttar Pradesh
  •   BEML aims to double its defence vertical revenue in FY19
  •   SBI to offload NPAs worth over Rs 13 billion
  •   Bitcoin case: ED grills Raj Kundra in connection with money laundering
  •   PFC looks beyond electricity sector, eyes farm, rail and smart cities
  •   Govt may announce a package of almost Rs 80 bn to bail out sugar sector
  •   Mylan-Biocon combine notch up second biosimilar in the US with pegfilgrastim
  •   Bank loans worth Rs.5-lakh cr turned into NPAs in FY18: Crisil
  •   Services PMI contracts in May; falls to 3-month low
  •   Govt working on comprehensive law for transporting hazardous
  •   HUL to integrate foods and refreshments business wefJuly 1
  •   SEBI doubles ‘Angel Funds’ investment limit in VC firms to Rs.10 cr
  •   Discom losses plunged to ₹17,352 crore in FY18, says power minister
  •   India, China fail to resolve differences on trade tariffs
  •   India plans to build stockpile of 3 million tonnes sugar: Ram Vilas Paswan
  •   Patanjali, Godrej Agrovet in talks to tie up for Ruchi Soya bid
  •   NCLT directs ICICI Bank to reverse Rs48 crore in Ruchi Soya’s current account
  •   Solar power scheme entailing Rs 1.4 lakh cr to be implemented from next month: RK Singh
  •   Trai backs suggestion on partnership with foreign firm for IFC
  •   JV formed to set up India’s first bio-refinery in Assam
  •   Banks’ gross NPA increased to whopping Rs 10.3 lakh crore in FY18, says CRISIL
  •   Gross NPAs cross Rs 10L crore in FY18
  •   225 GW renewable power by 2022 likely
  •   Sebi outlines norms for preferential issue by InvITs
  •   Rs 2,600 crore package unlikely to help leather exports this year
  •   Bharti AXA Life Insurance posts maiden profit in FY18
  •   MFs to reveal on daily basis fees charged on all schemes

Morning Business News Round Up_June 5, 2018

  • 15 projects approved for export infra under TIES
    Parliamentary panel pulls up SBI, PNB chiefs
    Telangana banks given Rs 5400 cr for farm scheme: RBI
    Banks put NPAs worth Rs 28,000 crore up for sale
    Image result for rbiIDBI’s MK Jain appointed as RBI deputy Guv
    ICICI Bank loan row: Anatomy of a ‘quid pro quo’ deal
    Voda-Idea merged entity won’t succumb to debt: Citi
  • India gets cheapest LNG as Russia’s Gazprom begins supplies
    Wind energy fans power-short Gujarat as Adani and Essar switch off
    Bayer to complete $63-billion acquisition of Monsanto on June 7
    India has a $210 bn bad debt problem and offshore investors smell a chance
    Vedanta enters steel with acquisition of Electrosteel Steels, to hold 90%
    Higher crude prices, weak rupee may widen CAD by up to $31.2 bn: India Ratings
    SEBI moves to ease corporate insolvency resolution process
    Fitch downgrades PNB’s viability rating to ‘b’
    ICRA pegs wind energy capacity addition at 3-3.5 GW in FY’19
    India, Iran discuss revival of rupee-rial payment mechanism
    Tata Motors sets up a new vertical to drive EV business
    US Fed must go slow with balance sheet unwind: Urjit Patel
    Govt weighs merger of Bank of Baroda, IDBI Bank, Oriental Bank, Central Bank
    UltraTech wins copyright infringement case to secure its brand against Everest Industries
    Idea Cellular gets DoT approval to hike FDI limit to 100%
    Microsoft agrees to buy coding site GitHub for $7.5 billion
    Reliance Jio begins hiring AI team under Akash Ambani
    Global airport capacity crisis amid passenger boom: IATA
    China likely to surpass US in R&D spending, says report
    Supreme Court restrains finalisation of Binani Cement asset sale till further orders
    Coal India Ltd’s dispatch to power sector up 15 per cent in April-May
    Global application infrastructure, AIM market grew 12% in 2017, says report
  • Sebi lowers expenses charged by MFs
    Bond yield jumps to 2-week high in anticipation of rate hike
    Tata Motors maps turnaround for 2019
    RBI guv sees dollar double whammy
    ONGC may not come to govt’s rescue
    Oil, MSP may derail fiscal deficit plans

Morning Business News Round Up_June 1, 2018

  •   India grows 7.7% in Q4, remains fastest-growing
  •   Govt meets fiscal deficit target of 3.5% for FY18
  •   Govt may relook at Air India stake sale strategy
  •   Setback for Jaypee as Orient calls off Rs 2,000 cr deal
  •   Centre appeals in HC against Voda’s int’l arbitration
  •   Shut plant won’t hurt Vedanta’s cash flow much: S&P
  •   Warburg buys 26% stake in IndiaFirst Life for Rs 710 Cr
  •   April eight core industries growth at 4.7% vs 4.4% a yr ago
  •   India’s per capita income grows by 8.6% to Rs 113,000 from 103,870 in FY18
  •   Investment rate stagnates in last three years: CARE
  •   MEP Infra to tie up with funds from Singapore or UK for TOT projects
  •   Sebi slaps Rs 1 mn fine on DLF for wrong disclosures from IPO proceeds
  •   India, World Bank sign $500 mn loan pact for rural roads
  •   Centre mulls building 3-mt sugar buffer; moves to sweeten exports
  •   IOC most profitable PSU for second consecutive year
  •   SAIL posts Rs 816 cr net profit in Q4
  •   BSNL ties up to create mobile advertising ecosystem
  •   ‘Costly crude, weak rupee can pose an immediate threat to growth’
  •   RBI needs better rupee policy: NITI Aayog vice chairman
  •   Flipkart Internet narrows loss to ₹1,639 crore in fiscal 2017
  •   NPA-laden UBI to cap loans to single borrower at Rs.150 crore
  •   ATC closes Rs.4,000 crore deal to acquire 9,900 telecom towers from Idea Cellular
  •   Petrochemical, gas trading businesses a drag on GAIL’s Q4 results
  •   UIDAI relaxes daily Aadhaar updation target for bank branches
  •   PM Narendra Modi launches BHIM, RuPay and SBI digital payment apps in Singapore
  •   ADB funds $375 mn project for irrigation boost in Madhya Pradesh
  •   HDFC shares rally ahead of new FIIs trading window
  •   Tax reforms to help expand revenue base: Moody’s
  •   Govt to set up 3mt sugar buffer stock
  •   L&T Shipbuilding’s auditors raise ‘going concern’ doubts
  •   Mutual Funds set to rename schemes by June 30

Morning Business News Round Up_May 30, 2018

  •   SGX defers launch of new India product
  •   FPI debt selling hits 18-month high in May
  •   Banks ask exporters to close Iran deals due to curbs
  •   States owe generation cos Rs 32,024 cr till Feb 2018
  •   Reliance Infratel withdraws petition seeking asset sales
  •   NCLAT to hear Essar Steel lenders plea on May 30
  •   Vedanta prepares legal challenge to plant closure
  •   Coal India Q4 net profit drops 52% to Rs 12.95 bn on higher employee cost
  •   Banks have disbursed Rs 6 trillion Mudra loans: PM
  •   Sebi launches probe into MCX’s technical glitches and NSE’s NOW disruption
  •   Fortis terminates Munjal-Burman offer, initiates fresh bidding process
  •   ITI Ltd’s FPO likely to be completed soon to meet minimum 25% shareholding
  •   Dish TV reports Rs 1.2 bn PAT in Q4FY18, operating revenue at Rs 15.32 bn
  •   Centre promises to refund textile GST dues in 20 days
  •   Paytm trims losses by 39% to Rs 900 cr in FY17
  •   M&M Q4 net surges 50% at Rs 1,155 cr
  •   Fruit & vegetable output pegged at over 307 million tonnes in current
  •   Gas leak reported at GNFC’s TDI unit in Dahej
  •   ONGC nominates one director on HPCL board
  •   Banking services may be hit by 2-day union strike from Wednesday
  •   RCom offers to pay Ericsson Rs500 crore to settle dispute
  •   Trai proposes use of blockchain technology to curb pesky calls, SMS
  •   Nestle to cut 500 jobs in biggest swiss restructuring plan
  •   Rupee closes lower against US dollar
  •   Another shocker for Vedanta’s Setrlite copper plant: Tamil Nadu cancels land allotment
  •   Rotomac bank fraud case: ED attaches Rs 177 crore assets
  •   World Bank to provide $21.7 mn loan for Rajasthan financial management
  •   Bangladesh could well march past India on the growth path
  • Related image  India’s exports may jump 20% in current fiscal 2018-19 to $350 billion
  •   Rubber production deficit to be at record high this year
  •   BSNL-Patanjali co-branded SIM card offers 60GB @ Rs 144
  •   CBI books AirAsia CEO Tony Fernandes on lobbying charges
  •   Reserve Bank audit reveals NPA divergence of Rs 45,600 cr in PSBs