Morning Business News Round Up_ August 16, 2018

  •  Note-ban, GST hit household savings rate: Report
  •  NPCI blames Cosmos Bank for Malware attacks
  •  RBI puts 200 stressed account under scanner
  •  Jio opens fibre based broadband registration
  •  Blackstone may pick stake in Jet Airways’ loyalty arm
  •  Image result for pesticidesGovt bans 12 pesticides with immediate effect
  •  RBI rejects Kotak Bank’s plan for dilution of stake
  •  Indirect tax base has surged 65% to 11.6 mn since GST roll-out: PM Modi
  •  Sebi eyes framework for timely disclosure of loan defaults by listed firms
  •  Aluminium, Copper twin triggers for Hindalco, Novelis a key positive
  •  Reliance declares force majeure on gasoline exports from Jamnagar: Report
  •  GMR Infrastructure Q1 net loss widens to Rs 2.35 bn; income at Rs 16.5 bn
  •  India to be engine of world growth for three decades: PM
  •  CBDT plan to incentivise ‘quality orders’ worries trade
  •  Positive growth in steel sector to continue: Tata Steel
  •  NTPC to set up subsidiary for coal mining soon
  •  Uflex Q1 net flat-lines at Rs.94.36 crore
  •  Patanjali to launch messaging app Kimbho on Aug 27
  •  Sun Pharma’s US business peeps out from clouds in Q1
  •  Agri export policy to prepare farmers for global market: Modi
  •  Canara Bank to hire social media agency for customer outreach
  •  Sun Pharma’s US business peeps out from clouds in Q1
  •  Pending investor grievances drop 16% till FY18 end
  •  Government invites fresh EoIs for 100% stake in Pawan Hans
  •  Allahabad Bank posts Rs 1,944-cr Q1 net loss on higher provisions
  •  Pressure on current account deficit: Trade deficit hits the 62-month high in July
  •  Spectrum auction to be taken up on August 31
  •  Turkey increases tariffs on some US goods, escalating feud
  •  FinMin mulling auction of some stressed power assets
  •  Govt may stick to gilt buyback plan in H2
  •  JSW outbids rivals with Rs 19,700 crore offer

Morning Business News Round Up_ August 14, 2018

  •  CPI cools to 4.17% in July, down from 4.9% in June
  •  Image result for tata steelTata Steel Q1 profit doubles to Rs 1,954 crore YoY
  •  Tata Sons to sell Rs 11,500 cr shares in TCS buyback
  •  Indian firms lag compliance of EU data protection rule
  •  Tata Steel submits revised bid for Bhushan Power
  •  CCI okays Adani Wilmar’s acquisition of Ruchi Soya
  •  Iran offers Asian buyers cheapest oil in 14 yrs
  •  Sebi’s FPI norms may jeopardise billions of dollars from offshore funds
  •  Jet Airways, rating agencies come under regulatory scanner over lapses
  •  Sebi mulls steps to prevent misuse of clients’ securities by stock brokers
  •  Bombay HC directs CBDT to reply on STT on physically-settled derivatives
  •  Tata Chemicals Q1 profit up 14% to Rs 2.69 bn; debt slips to Rs 15 bn
  •  Ambiguity in Jet Airways’ loan status
  •  Cadila picks up 51% stake in Windlas Healthcare
  •  Steel-makers seek 40% export duty on graphite, removal of dumping duty
  •  Ramky Enviro Engineers to invest Rs.2,500 cr in new projects, expansion
  •  IndianOil to invest over Rs.20,000 cr in city gas biz
  •  ‘NSE’s May 24 trading errors due to tech glitch’
  •  Rupee plunges to record low, closes near 70 a dollar
  •  Telcos to seek fresh dialogue on scrapping interconnect charges
  •  EIL to invest Rs 700 crore for LPG terminal at Okha
  •  Wipro, ITC, Cadila take lead in race to acquire Complan
  •  BSE seeks further clarification from Jet Airways over deferred results
  •  India may not reach 100GW solar target by 2022: report
  •  Incumbent telcoms’ profit halve in 3 years, margins fall 1,000 bps
  •  SBI ranked as India’s most patriotic brand: Survey
  •  RBI backs proposal to form asset reconstruction firm to salvage power sector stressed assets
  •  Wilful defaulters, economic offenders may not settle a case, suggests Sebi panel
  •  IOC hopes to get Iranian investment for CPCL refinery
  •  RCom reinstates Rs 774 crore bank guarantees with DoT
  •  No safeguard duty on solar cells for now, says FinMin
  •  Household savings hit slowest pace, drop 20%
  •  Turkey attempts to calm markets as crisis deepens

Morning Business News Round Up_ August 13, 2018

  •   IBC has put recovery process on fast track: Ficci Survey
  •   Over 200 rail projects report Rs 1.82L cr cost overrun
  •  Related image BPCL gets green nod for ethanol project in Odisha
  •   SBI to sell two NPAs worth Rs 2,490 crore
  •   PVR to buy SPI cinemas in deal valued at over Rs 850cr
  •   Adani walks away with gas rights for 21 cities
  •   Govt draws up new bailout plan for Air India
  •   PSBs to be recapitalised in Q4 FY19, exercise linked to progress on reforms
  •   GVK plans to raise Rs 135 billion for Navi Mumbai airport project
  •   Manufacturing sectors with high production growth rose in Q1: CII
  •   Investors want higher price in Fortis open offer; IHH unlikely to oblige
  •   Indian Oil posts 50% jump in quarterly profit as refining margin doubles
  •   India’s economic growth to improve in coming quarters: CII-ASCON
  •   No GST on fortified toned milk, but treatedtamarind kernel powder to attract 5% tax
  •   DGCA to conduct financial audit of Jet Airways
  •   RCEP trade ministers to meet on Aug 30-31 in Singapore
  •   NBCC standalone net at Rs.67.66 cr
  •   Hindalco to pre-pay Rs.3,000-cr debt this fiscal
  •   Saudi Arabia fund in talks to invest in Tesla buyout deal
  •   Rafale deal from Dassault, not defence ministry: Reliance Group
  •   India Cements Q1 profit falls 34% to ₹26 crore
  •   Tata Motors global sales fall 5% in July
  •   Monsanto fined $289 million in world’s first Roundup cancer trial
  •   FinMin unlikely to heed RBI’s demand for greater power over PSU banks
  •   Auto industry raises concerns over proposed changes in import regulations
  •   RBI net sells USD 6.184 bn of US currency in June
  •   DCM Shriram to invest Rs 1,300 cr to expand sugar, chemical business
  •   FPIs infuse Rs 8,500-crore in capital markets in just 8 trading sessions
  •   FY19E earnings likely to grow by 22.8%
  •   Sebi seeks to make MFs more cost effective
  •   Coal India pushes back output target
  •   More education loans turn ‘bad’ in three fiscals
  •   CPSEs to soon monetise assets, SAIL, NTPC to take lead

Morning Business News Round Up_ August 9, 2018

  •  First round of US tariffs on China to hit $50 bn Aug 23
  •  Walmart’s $16-bn acquisition of Flipkart gets CCI nod
  •  CCI gives nod to Tata Steel-Bhushan Power & Steel deal
  •  RBI to transfer Rs 50,000 crore surplus to govt
  • Image result for per capita income logo India’s per capita income rises to Rs 80,000
  •  PNB in talks with I-T dept to sell erstwhile HQ
  •  Shortage of long product steel hurting EPC companies as cost goes up
  •  NHAI suffers Rs 4-bn loss on non-recovery of damages from realty developers
  •  IMF warns India over PSBs, advocates privatisation
  •  Ahead of LIC acquisition, IDBI gets nod to lower govt stake to under 50%
  •  Sebi set to tackle cyber security breaches, deploy data analytics
  •  NSE keen to set up spot gold exchange: Limaye
  •  India heading for a lower tea output as H1 output falls 5%
  •  ICICI Bank issues over 1 million FASTags
  •  HPCL Q1 net surges 86% to Rs. 1,719 cr
  •  TCS in talks with Infosys, Wipro to sell its automation software
  •  HPCL winds down Iran oil supply as US-led sanctions inch closer
  •  RBI cancels licences of 368 NBFCs in first half of 2018
  •  HDFC MF juggles its schemes and thumbs its nose at Sebi
  •  Govt to set up 25,000 MW solar project in Ladakh
  •  Samsung lines up $22 bn spending for new tech
  •  Fonterra, Future Group announce joint venture for Indian market
  •  Mumbai BPCL fire: Refinery’s hydrocracker unit shut, 40 injured
  •  Supreme Court warns Amrapali group not to play smart with court
  •  NDTV Q1 net loss narrows to Rs 2.88 crore
  •  Government may release second draft of e-commerce policy in a fortnight
  •  IMF says RBI needs to gradually tighten monetary policy due to these 3 key concerns
  •  Banks have limited ability to support high credit growth
  •  Pressure builds on UK Labour to back second Brexit referendum
  •  Plan to cap medical devices margin at 30% nags industry
  •  NSE in fresh talks with Sebi to resolve co-location case

Morning Business News Round Up_ August 7, 2018

  •   Image result for HULHUL to acquire K’taka-based icecream brand Adityaa
    Buffett’s $111 bn cash pile intensifies buyback debate
    India a key market for portfolio transformation: Nooyi
    DoT amends licence conditions for net neutrality rules
    RCom to complete Rs 25K-cr assets sale by Aug-end
    HDFC Bank raises fixed deposit rates by up to 0.6%
    10% below-normal rainfall hits sowing of kharif crops
  •   Risks to macroeconomic stability from trade war
    No GST refunds for foreigners as of now as there is no provision:      FinMin
    Bank of Baroda puts Rs 28 billion non-fund exposure under watch list
    Mukesh Ambani’s Reliance acquires 5% stake in Eros International Plc
    Nestle explores inorganic growth route to expand product offering
    Maggi hits 60% market share, touches pre-crisis level in value terms
    Land acquisition: Govt to credit amount directly to owner’s a/c
    Britannia Industries to invest Rs 300 cr in dairy business
    HDFC AMC stocks spurt 58% on debut
    At 3.5 lakh tonnes, sugar exports way off target
    Arvind Ltd’s standalone net down 20% at Rs 64 cr in Q1
    US sanctions on Iran cast shadow on Indian exports
    Restore LoUs at the earliest with proper safeguards, RBI told
    Automobile industry planning ₹ 58,000 crore capex in 2 years
    IFC to invest $25 million in Mahindra Rural Housing Finance
    BPCL to shut Bina refinery for 45 days from mid-August
    Adani Power Q1 net loss doubles to Rs 825 crore
  •   Trump tariff fallout: India becomes steel dumping ground; imports from China jump 67%, Japan 47% and Korea 35%
    L&T construction arm bags orders worth Rs 1,296 crore
    Government sets up two task force for making aircraft, UAVs
    Government likely to raise import duty on 300 textile products to boost domestic manufacturing, employment
  •   Britannia proposes stock split, bonus debentures
    Regulate global proxy advisers: Uday Kotak
    SMP exports dip to 4% from 65% in 4 years
    Vehicle scrap policy to see more consultations: Gadkari
    Steel majors’ buying of stressed assets to boost consolidation

Morning Business News Round Up_ August 3, 2018

  •   Swiss can give client data to India in tax case: Court
  •   Manipal group in talks to buy AMRI from Emami
  •   63% of Indian firms struggling with EU GDPR: Report
  •  Image result for ongc ONGC Q1 profit jumps 58% YoY to Rs 6,144 crore
  •   Apple becomes the first US company to hit $1 trillion in value
  •   HDFC hikes interest rates on home loans 20 bps
  •   Diversion of homebuyers’ money a criminal act: SC
  •   IFC to invest Rs 1.6 bn in MRHFL, proceeds to benefit borrowers in villages
  •   L&T divests stake in L&T Tech to meet 25% minimum public shareholding
  •   Capital First PAT up by 55% to Rs 1 bn for quarter ended June 2018
  •   India may defer imposing higher duties on US imports by 45 days
  •   RBI adds gold to forex reserves in June quarter, buys 2.5 tonnes in March
  •   Pfizer Q1 net profit up 61% at Rs 92 cr
  •   ‘GST rate-cuts may lead to revenue shortfall in near-term’
  •   Hindustan Copper to extract gold, silver from copper ore tailings
  •   Cipla’s Uganda arm plans IPO, listing
  •   Delay in revision of fixed costs to hit urea cos: ICRA
  •   Rosneft’s India venture Nayara rejigs debt to cut interest costs
  •   GE Power India net profit falls 77% to Rs.2.4 crore in April-June
  •   Manpasand Beverages Q1 net at ₹36 crore
  •   Jio Payments Bank, SBI partner for digital banking solutions
  •   Cisco to buy cyber security firm Duo for $2.35 billion
  •   Finance Ministry considering suggestion to exclude income from minor asset transfer
  •   Tata Trusts plans to support 1,000 innovations in tech sector
  •   Government extends scheme to support cos bidding for infra projects abroad
  •   India business will grow to USD 5-6 billion for Lenovo: Chairman
  •   Gold demand falls 8% to 187.2 tonnes in Q2
  •   NHAI, SBI to ink MoU for Rs 25K cr loan
  •   ICICI Bank chairman assures of priority to governance practices
  •   India puts off retaliatory tariff on US products

Morning Business News Round Up_ August 2, 2018

  •  RBI assures debt market of more liquidity
  •  No formal communication on NHPC stake sale: NTPC
  •  Image result for gst lawsCabinet clears changes to GST laws, to be placed soon
  •  Bank fraud: ED to request 6 countries for assistance
  •  ICICI Bank warns against increased regulatory scrutiny
  •  Unemployment to stay at 3.5% in India: ILO
  •  New proposal to clean up NPA mess may cost banks Rs 50,000 cr
  •  Piramal set to demerge pharma, finance arms, list them on stock exchange
  •  Possibility of currency wars risk to India’s growth: RBI Governor
  •  RBI hikes repo rate by 25 basis points to 6.50% amid inflation concerns
  •  Centre clears GST refund worth Rs 543.78 bn of exporters till July end
  •  China accounts for 89% of India’s total solar cells imports in 2017-18
  •  Sebi wins Australia court case against group accused of financial fraud
  •  UPI transactions decline 4.5% in July
  •  LIC takeover may see infusion of Rs.13,000 crore in IDBI Bank
  •  Elgi Equipments acquires Sydney-based Pulford Air & Gas
  •  Apollo Tyres net up three-fold at Rs 252 cr in Q1
  •  ArcelorMittal Q2 net income up at $1.9 bn
  •  MCX Clearing Corporation gets SEBI nod; may start operations soon
  •  NCLAT tells Bhushan Power lenders to submit revised plans by Monday
  •  ICICI Bank makes disclosures on Chanda Kochhar in US SEC filing
  •  Amrapali Group’s bank accounts, movable properties attached for defrauding homebuyers
  •  Hero MotoCorp sales up 9 pc at 6,79,862 units in July
  •  Tesla plans $5 billion investment in Chinese factory
  •  Bank ombudsman scheme to be strengthened: RBI
  •  RBI rate hike reflects uptick in credit demand: Industry
  •  TRAI recommends spectrum pricing changes for next auction
  •  FRDI Bill withdrawn on public concerns, says FM Piyush Goyal
  •  Indian consumer sentiment hits record high in July, says report
  •  SMEs want big firms sitting on payments removed from RoC
  •  Maruti sales decline, announces price hike
  •  Rural demand, farm income set to grow: RBI
  •  Skymet predicts below normal rains this monsoon

Morning Business News Round Up_July 27, 2018

  •  Iran extends insurance cover to keep oil flowing to India
  •  DoT gives final nod to Vodafone-Idea merger
  •  Hindalco arm to buy US-based Aleris in $2.58b deal
  •  About 2L jobs lost due dumping of Chinese solar panel
  •  ‘RCom’s spectrum cancellation will jeopardise recovery’
  •  HPCL cancels the purchase of an Iranian oil cargo
  •  Image result for ITCITC Q1 net profit rises 10.07% at Rs 28.19 billion, beats estimates
  •  Aion-JSW Steel to pay Rs 29 bn to pick Monnet’s 74.3% equity
  •  Inbound FDI from tax havens shoot up in FY18
  •  Price of iron ore fines jumps by 17%, lumps by 11% as steel prices soften
  •  Tata Steel’s Bhushan Steel acquisition hits NCLAT hurdle, may get costlier
  •  Dr Reddy’s June qtr net surges over six-fold at Rs 4.56 bn on turnaround
  •  Bharti Airtel Q1 net profit plunges 73% to Rs.97 crore
  •  Pepper imports by EoUs and SEZs exempt from price control: DGFT
  •  Govt panel comes down hard on pharma firms over fixed-dose combination drugs
  •  Import duty on consumer durables may go up
  •  At 1 lakh new jobs, hiring will be flat in FY19: Nasscom
  •  HDFC AMC IPO attracts strong demand, subscribed over 5 times on Day 2
  •  US SEC steps up probe into ICICI Bank’s accounting practices
  •  CESC Q1 profit rises to ₹182 crore
  •  Qualcomm walks away from $44 billion NXP bid, will buy back $30 billion of shares
  •  Jyothy Lab Q1 profit rises 57% to ₹32 crore
  •  ASCI pulls up Tata Steel, Xiaomi, 87 others for misleading ads
  •  AccorHotels drops bid for Air France-KLM stake
  •  Indian IT companies becoming true multinationals, says NASSCOM
  •  US wants to reduce trade deficit with India soon, says official
  •  India surpasses Japan in steel production
  •  Irdai wants standardised exclusions in health policies
  •  Nirav, Choksi summoned under new fugitive law
  •  Voda-Idea merger creates $23 billion telecom giant
  •  Govt hopes FY19 may see at least one case of PSB merger

Morning Business News Round Up_July 26, 2018

  •  Govt moves HC to get $3.8 bn from RIL, Shell, ONGC
  •  BRICS economies meet as US trade war looms
  •  Trump accuses China of using ‘vicious’ trade tactics
  •  EU threatens US with USD 20 billion tit-for-tat tariffs
  •  Tax havens account for highest increase in FDI inflows
  •  59 infra projects report cost overrun of Rs 1.36L cr
  •  About half of land notified for SEZs are lying vacant
  •  AMC in the works to help PSUs offload non-core assets
  •  NCLT rejects Jyoti Structures’ resolution plan, orders liquidation
  •  ED gets power to impound fleeing economic offenders’ property
  •  NCLAT junks cement-makers’ plea against CCI’s Rs 67-bn cartelisation fine
  •  Canara Bank Q1 net profit up 12% at Rs 2.81 bn; bad loan decline marginally
  •  Suzlon Energy aims to reduce 40 per cent of Rs 60 billion debt by FY18
  •  TPG acquires a minority stake in pharma firm Sai Life Sciences
  •  Exports likely to touch $350 bn in current fiscal: Suresh Prabhu
  •  India to hold top spot for economic growth but oil poses risk
  •  Maruti to recall 1,279 units of new Swift, Dzire for possible fault in air-bag controllers
  •  Honeywell to help IndianOil meet BS VI specifications
  • Image result for sun pharma Sun Pharma launches generic Glumetza tablets in US
  •  BHEL net profit nearly doubles to Rs 156 cr
  •  Recapitalisation of 5 public sector banks credit positive: Moody’s
  •  SBI sees 50% recovery from RBI’s first NPA list
  •  Hero MotoCorp Q1 profit misses estimates
  •  HDFC AMC IPO off to strong start, oversubscribed on Day 1
  •  Lenders may drag four power producers to NCLT
  •  L&T Q1 profit beats estimates on strong infrastructure business
  •  One more NPA account resolved in just 5 days; bankrupt Amtek Auto goes to Liberty House
  •  Bharti Infratel-Indus Tower merger gets SEBI nod, NCLT approval needed next
  •  RBI has enough powers to regulate PSU banks, says govt
  •  Housing sales, new launches highest since demonetisation in first half of 2018
  •  NSE to extend derivatives trading till mid-night
  •  Setback to Marans as HC sets aside order in illegal exchange case
  •  IndiGo grounds 5 A320 Neo planes due to P&W engine snag
  •  Centre nudges power plants to go for coal imports
  •  House panel suggets strong norms for exemption to PF trusts

Morning Business News Round Up_July 25, 2018

  •   4,387 large borrowers account for 90% of NPAs
  •   Trump plans $121 bn aid to farmers hit by tariffs
  •   Financial creditors recover over Rs 47,000 cr under IBC
  •   Not considering any farm loan waiver: Centre
  •   Government asks RBI to suggest on PSU Bank merger
  •   Related imageAdani sees six-fold rise in coal mining volume
  •   Benami properties worth Rs 4,300 crore attached: Govt
  •   India money in Swiss banks fell 80% since 2014, says Piyush Goyal
  •   Sebi proposes three-phase process for re-classification of promoters
  •   Govt mulls selling $2.6 billion NHPC stake to state-run peer NTPC Ltd
  •   JSW Steel aims to turn around insolvent Monnet Ispat in a year
  •   Wistron to invest Rs 30 billion for second iPhone unit in Bengaluru
  •  10.9 mt fertiliser offtake till June, says Govt
  •   Arysta deal: Moody’s announces positive outlook for UPL
  •   Dr Reddy’s retrenches ‘hundreds’ across locations
  •   Vodafone, Idea settle DoT dues of Rs.7,248 crore
  •   Consensus around telecom monopolisation at this point is not justified: TRAI Chairman
  •   RBI has wide-ranging powers to regulate public sector banks, says govt
  •   USL’s Q1 profit jumps 29% to Rs.81.3 crore
  •   Rosneft files $1.4 billion lawsuit against Sakhalin-1 firms ONGC Videsh, others
  •   McDonald’s recycles used oil to power trucks in sustainability push
  •   Government issues preliminary notices to 272 companies for CSR violations
  •   Drugs Prices Control Order 2013 helped save whopping Rs 11,463 crore to public, says government
  •   SFIO receives complaints against ICICI Bank, L&T
  •   SEZ rules may be aligned with GST laws by July-end: Official
  •  House panel suggets strong norms for exemption to PF trusts
  •  Bank finance to jewellery sector drops by 10%
  •  US firms face off with Paytm in lobbying against data storage rules
  •  BSNL aims Rs 650 crore revenue in FY19 from VNO partnerships