Morning Business News Round Up_July 20, 2018

  •   Digitisation to help explore $39bn export opportunity
  •   Trai overhauls rules on pesky calls, spam messages
  •   Digital retail lending may hit $1 trn in 5 years
  •   NCLT approves Aion Capital-JSW Steel resolution plan
  •   June quarter CAD seen rising to 2.5% of GDP: Icra
  •   India may lose trade dispute with US in WTO: Secy
  •   Related imageNew industrial policy to suggest ease of trade
  •   India to remain fastest growing economy till FY20: Asian Development Bank
  •   NSE to levy 10 times higher STT on physically-settled derivatives
  •   Liquidity crisis for gems, jewellery sector as Nirav Modi case scares banks
  •   Sebi to finalise guidelines to allow MFs to invest in commodity derivatives
  •   India’s demand for solar equipment import jumps 90% in last three FY: Govt
  •   India’s growth story intact despite challenges: Ficci
  •   MCF gets green nod for 1 mt fertiliser plant
  •   ABB India net profit up by 26% in Q2 of 2018
  •   Registered valuers told to expand scope of work
  •   Liberty House to invest Rs.300 cr to restart Adhunik, Zion Steel
  •   JSW Cement to set up $150-mn clinker facility in UAE
  •   IOC, BPCL, Adani bid for most city gas licences
  •   Novartis to pay as much as $1 billion for skin drug rights
  •   Suzuki Motorcycle to invest ₹600 crore in its second India plant
  •   European Union to curb steel imports after Trump tariffs
  •   Fortis EGM on 13 August over stake sale to IHH
  •   Ex-RBI deputy governor R Gandhi cautions against frequent loan waivers
  •   AirAsia announces $30 billion deal for 100 Airbus planes
  •   Kotak Mahindra Bank Q1 net up 12 per cent to Rs 1,025 crore
  •   Secular countries may have more economic growth, says study
  •   Rural market drives consumption demand
  •   Coal demand rises 7.5% in FY18: Goyal
  •   Rupee closes at historic low of 69.05
  •   Fuel, land and electricity will be under GST, says CEA
  •   IBBI working on cross-border insolvency laws

Morning Business News Round Up_July 19, 2018

  •  RIL plans to borrow $6 billion in consumer push
  •  Daiichi Sankyo moves Delhi HC to block Fortis-IHH deal
  •  Govt introduces bill to check unregulated deposits
  •  245 infra projects delayed, 345 report cost overrun
  •  Airtel added 36 mn users after Telenor India buy: Trai
  •  Parliament nod to bill for SBI-subsidiary bank merger
  •  Related imageGovernment increases sugarcane FRP by Rs 20 per quintal to Rs 275
  •  Inflationary pressures, led by crude, expected to hurt FMCG companies
  •  EPFO invested nearly Rs 489.46 bn in exchange-traded funds till June 30
  •  CAG probes Rafale jet deal; CBI examines 4 graft cases in defence: Govt
  •  Cipla plans acquisitions to enter new therapies, boost Africa business
  •  Bank credit rises by 12.78%, deposits by 8.33%
  •  Anti-dumping duty on grinding media balls from China, Thailand extended for five more years
  •  Nod for Bill to replace insolvency ordinance
  •  ONGC, OIL will not bear entire royalty, cess burden in pre-NELP blocks: Pradhan
  •  Zydus Cadila gets USFDA nod to market 4 generic products
  •  Spanish oil firm Cepsa ties up with GP for India entry
  •  DoT looking into Vodafone-Idea plea on recalculating dues
  •  Govt decides to withdraw contentious FRDI bill
  •  Ultratech Cement Q1 profit slumps 30% to Rs.631 crore on higher petcoke, fuel prices
  •  Google fined $5 billion by EU, told to alter Android model
  •  Bill to curb ponzi schemes tabled in Lok Sabha
  •  Insolvency process: Videocon lenders’ claims at Rs 59,000 crore
  •  Reliance Comm Q1 net loss narrows to Rs 342 crore
  •  Merger of associate banks with SBI to enhance profitability, says Minister
  •  Cabinet nod for tabling bill recognising home buyers as financial creditors
  •  Oil and gas- Expect inventory gains for OMCs
  •  Global Cyclicals will drive first quarter earnings
  •  Ranbaxy promoters asked to disclose foreign bank accounts, assets
  •  Govt concerned about additional duties by US
  •  ONGC gets board nod to exit Pawan Hans, to sell 49% stake

Morning Business News Round Up_July 18, 2018

  •  Growth rises in eastern states for auto companies
  •  Very positive momentum against US sanctions on India
  •  Govt nod to Rs 11,336 cr capital infusion in 5 state banks
  •  Panel to change laws to prevent defaulters from fleeing
  •  Steel Minister announces pension scheme for CPSEs
  •  Trai’s draft rules to curb pesky calls, msgs: COAI
  •  Technology driving BFSI sector to grow: TCS
  •  HDFC AMC’s Rs 28 bn IPO to open on July 25 at Rs 1,095-1,100 per share
  • Image result for ashok leyland logo Ashok Leyland Q1 profit up by 233% to Rs 3.70 billion, beats estimate
  •  ICICI Lombard General Insurance Q1 net profit rises 35% to Rs 2.89 billion
  •  Cabinet to consider Rs 20 per quintal hike in sugarcane price for 2018-19
  •  EU, Japan to sign massive trade deal in ‘strong signal’ against Trump
  •  NCLAT stays voting by Bhushan Power & Steel lenders on finalising bids
  • ‘US import tariff to have indirect effect on steel industry’
  •  25% safeguard duty on solar modules is both a boon and a bane: Crisil
  •  Trucks can now legally carry 20-25% more load
  •  ‘Proposed solar safeguard duty is double-edged sword’
  •  Jet orders 737 MAX 8 Boeing planes for $9 b; drawn by fuel efficiency of its narrow body
  •  ICICI Bank audit committee hires law firm to look into bad loans
  •  IDBI Bank to move govt to make LIC promoter
  •  Federal Bank posts 25% rise in net profit on lower provisioning
  •  Nestle breaks into Rs1 trillion market cap club
  •  Rolls-Royce unveils hybrid ‘flying taxi’ at Farnborough
  •  NBFCs eye stressed SMEs for lending opportunities
  •  China’s cooling economy spells trouble ahead for global growth
  •  Government doubles import duty on over 50 textile products
  •  Grofers to enter FMCG segment; eyes Rs 2,500 cr sales in FY19
  •  UK employment hits record high as job creation continues
  •  Securitisation volumes up 128% in Q1
  •  Financial technology yet to reach potential
  •  Increase in truck axle load to impact CV sales
  •  Karnataka miners for curb on iron ore imports

Morning Business News Round Up_July 17, 2018

  •   Users have right on their data not cos: Trai
  •   IMF cuts India’s growth projection, but it’s still on top
  •   Productive US-Russia talks good for world: Trump
  •   Image result for India, IranIndia, Iran discuss impact of US sanctions on oil trade
  •   ICICI Bank decides to postpone AGM by a month
  •   India recommends safeguard duty on solar cells
  •   BSNL to roll out 5G service with global launch: Anil Jain
  •   Hindustan Unilever Q1 profit up 19% to Rs 15.29 bn, income rises 3%
  •   Sebi extends deadline to Sept 30 for RTAs to collect PAN, bank details
  •   LIC board gives nod to acquisition of up to 51% stake in IDBI Bank: Garg
  •   Buyback withdrawals by companies pose headache for Sebi, investors
  •   China files WTO challenge to Donald Trump’s $ 200 bn tariff plan
  •   WPI hits 54-month high, jumps to 5.77% in June
  •   Moody’s warns of higher SME LAP delinquencies on rising rates
  •   Centre may take up fresh valuation of Air India
  •   Sugar output seen at a new high of 355 lakh tonnes in 2018-19
  •   Lupin gets UK health regulator’s approval for Goa facility
  •   China Q2 GDP growth slows, meet forecast
  •   IDBI Bank board may soon clear preferential share allotment to LIC
  •   Fitch sees IOC’s net debt levels rising due to large capex
  •   TCS eyes $200 million in revenue from blockchain in FY19
  •   Hotel firm’s lawsuit a challenge for Infosys’s hiring plans in US
  •   Sensex drops 217 points on sell-off in banking, pharma stocks
  •   PhonePe acquires Zopper Retail for undisclosed account
  •   FMCG major HUL to go for ‘judicious’ hike to ward off inflation
  •   Scam-hit PNB opens 2nd centralised loan processing centre for better monitoring
  •   India invites investments from Omani companies
  •   PE investments in real estate see a quantum jump
  •   Ashok Leyland forms new division for customers
  •   Office assets witness inflow of `57,300 cr since 2011
  •   10% duty sought to curb aluminium dumping
  •   Business confidence stays subdued in June

Morning Business News Round Up_July 16, 2018

  • Image result for LICLIC board to meet today to finalise IDBI’s stake buy
  • Deccan Chronicle may be headed for liquidation
  • India tells Russia to go ahead with FGFA project
  • Expect low acceptance ratio in HCL buyback: CLSA
  • Tata, Mahindra top R&D spenders in auto industry
  • Reliance Jio says not importing 4G feature phones
  • Coal auction: Business-friendly reforms on cards
  • India becomes regional head of Asia Pacific at World Customs Organisation
  • Farm loan waivers and not real income growth is driving rural demand
  • PNB’s bad loan recovery of over Rs 77 bn in first quarter tops FY18 level
  • Fintech startup IndiaLends targets disbursing Rs 10 billion loans in FY19
  • Govt should analyse why Air India stake sale process failed: IATA chief
  • FDI in services sector slumps 23% in 2017-18
  • Nabard working on ways to boost funding for farmer producer organisations
  • ACME bags another 600 MW at ₹2.44 a unit in SECI’s latest auction
  • Global corporate funding in solar sector at $5.3bn till June
  • Passenger vehicles export from India dips 7.37% in Q1
  • Dalal Street ready for Rs 14,000-cr IPOs
  • Bhushan Steel appoints Tata Steel’s T.V. Narendran as chairman
  • Sebi proposes tighter rules for auditors, valuers
  • Dr Reddy’s to appeal US Court’s decision on sale of generic Suboxone film
  • Lodha Developers may launch IPO this month to raise ₹ 5,500 crore
  • Google might face record fine in Android monopoly case
  • Coal India expects 322 million tonne from ongoing projects in FY19
  • Automobile firms plan over Rs 60,000 crore capex by FY20
  • Office assets witness inflow of `57,300 cr since 2011
  • PE investments in real estate see a quantum jump
  • Gold imports to India fell sharply in first quarter
  • China set to play key role in metals markets
  • Fertiliser prices forecast to rise by 2% in 2018

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