Morning Business News Round Up_March 16, 2018

Govt for PSBs’ stability first, consolidation later

Jio adjusted gross revenue up 21.3% at Rs 5,300 cr

India to engage with US on export subsidies

Trai issues notice to Airtel for violating order

‘India offers Rs 1L-cr biz in bio-fuel, bio-energy’

Feb trade deficit at $12 billion, exports grow 4.5%

Govt plans to bar 91 defaulters from leaving India

GIC Re to start London operations next month

Merger with associate banks led to higher account closure this year: SBI

Govt not to extend March 31 deadline for selling pre-GST packaged goods

LS passes bill to enable govt to double tax-free gratuity to Rs 2 mn

TN govt to focus on aerospace, defence sectors to get Rs 100 bn investment

ICICI Securities Rs 40-bn IPO to open on March 22; price band at Rs 519-520

India to approach USTR against steel, aluminium tariffs

Image result for Suzlon indiaSuzlon commissions 340 MW solar projects

M.P. begins wheat purchase atRs.2,000/quintal

Rosy Blue Group has not defaulted on any bank loan: Mehta

Calderys India Refractories eyeing 25% capacity expansion

Goa mining industry stares at uncertainty

GST one of the most complex, and second highest tax rate in world: World Bank

Air India made Rs543.03 cr from asset monetisation: Govt

Infosys to open technology and innovation hub in Connecticut, US

Fortis Healthcare suitors look to buy shares from public, banks

Air India sale: Singapore Airlines has open mind on making a bid

Shipping ministry for bringing MTOs under self-regulation

PF: PPF accounts to remain immune from attachment

CREDAI seeks cut in GST; bank financing to buy land for low-cost home

CBI arrests RP Info System directors in Rs 515 cr bank fraud

PSBs to link SWIFT with Core Banking Solution by April 30

Currency derivative trade limit raised to $100m from $15m

CBEC field offices observe GST refund fortnight for exporters

More 4G spectrum for BSNL, revival plan for MTNL: Sinha

Trade deficit narrows to $12 billion in Feb

Banks to establish robust risk management system soon

Morning Business News Round Up_March 15, 2018

Morning Business News :

  • World Bank projects India’s FY19 GDP growth at 7.3%
  • SBI may challenge order against taking over assets
  • Currency in circulation back to pre-demonetisation level
  • LTCG relief for investors of unlisted cos as govt extends indexation benefit
  • Indian realty sector market to reach $180 billion
  • Saudi turns to nuclear power to curb oil addiction
  • Decoding Videocon’s move on Philips, Electrolux
  • PNB fraud: RBI guv Urjit Patel blames regulatory constraints for scam
  • WB to raise lending to India by $1 bn for next five years
  • Strides Shasun gets US FDA approval for HIV treatment drug Efavirenz
  • Torrent may raise Rs 15 bn via QIP as it readies to bid for Sanofi assets
  • Revise GST, impose anti-dumping duty to boost textile sector: Parl panel
  • Bandhan Bank aims to keep gross NPA below 1%

Image result for Bandhan Bank

  • Cabinet approves India, Iran double taxation pact
  • Wholesale price inflation eases to 2.48% in Feb
  • Ban on LoUs to have disruptive impact: India Inc
  • Suzlon installs India’s largest wind turbine generator
  • Calderys India Refractories eyeing 25% capacity expansion
  • L&T wins contracts worth₹1,600 crore
  • BoI hits pay dirt on recoveries, helps lift sentiment for public sector peers
  • Yes Bank acquires 17.31% stake in Fortis Healthcare
  • Bharat Dynamics IPO sees 46% subscription on Day 2
  • UltraTech Cement hikes bid for Binani Cement to $1 billion
  • PNB fraud: ED seeks Interpol warrant against Nirav Modi, Mehul Choksi
  • Sensex, Nifty end in red as blue-chip shares plunge, PSU banks rise up to 14%; OMCs tumble
  • Bharti Airtel approves allotment of debentures to raise Rs 3,000 cr
  • 67% Indian businesses hit by ransomware, 38% twice: Sophos
  • Aviation ministry eyes 5-fold rise in passenger trips to 1 bn in 15-20 years: Jayant Sinha
  • Clean-up act: Banks may give PNB short-term loans
  • Wipro to divest hosted data centre services biz to Ensono for $405m
  • RBI Guv calls for more powers to regulate state-owned lenders

Morning Business News Round Up_March 14, 2018

Morning Business News :

  • RBI scraps LoUs, the tool that set off India’s biggest banking scam
  • Raghuram Rajan defends 80:20 gold scheme
  • Tata Sons sells shares worth nearly Rs 9,000 cr in TCS
  • Bhushan Steel’s insolvency resolution put on hold
  • SBI closes 41L SB accounts for not keeping min balance
  • Nirav case: Total fraud amount rises to Rs 13,600 cr
  • Showcause notices issued to telcos on call drops: TRAI
  • SC extends deadline for linking Aadhaar to phones, bank accounts

Image result for SC extends deadline for linking Aadhaar to phones, bank accounts

  • States issued Rs 283.98 bn as GST compensation till Dec: Arun Jaitley
  • PNB discloses Rs 9.42 bn additional exposure in Nirav Modi, Choksi fraud
  • Govt to sell 10% stake in HAL through Rs 42.30 billion IPO
  • BPCL to participate in insolvency process for Nagarjuna Oil corp
  • Banks agree to govt terms for Rs 800-billion recapitalisation bonds
  • MCX set to launch world’s first brass futures contract
  • Near-term correction likely in NCDEX refined soya oil
  • July-Dec 2017 saw surge in MSMEs seeking credit for first time
  • Suzlon installs India’s largest wind turbine generator
  • Zydus Cadila gets USFDA nod for Tizanidine tablets
  • HDFC to pare over 4% stake in AMC arm through IPO
  • Gail India buys 2 LNG cargoes for April delivery-traders
  • HDFC Bank blocks all its cards to buy, trade cryptocurrencies
  • RCom says to appeal NCLT order against Reliance Infratel asset sale
  • Bharat Dynamics IPO sees 32% subscription on Day 1
  • Over 9,000 cases under consideration of NCLT, including over 2500 cases of insolvency, says government
  • India to become collateral damage in Trump’s trade war on steel, aluminium
  • IBC: Government says no reduction in resolution plan submissions post Ordinance
  • China accounts for 66 pct of India’s bulk drug imports in FY’17
  • Karnataka allots 43 acres to Wistron for Apple’s iPhone unit
  • SBI retains minimum balance limit, but cuts penalty charges by 75%
  • Eicher ends Polaris JV, Multix dumped
  • Suzlon to set up 36 wind units for Maharashtra utility
  • Small cars have higher insurance loss ratio than SUVs

Morning Business News Round Up_March 12, 2018

Morning Business News :

  • US, China keen to join International Solar Alliance
  • Jet Airways, Air France, others to bid for Air India
  • Disney’s ‘Black Panther’ reaches $1 billion globally
  • India should drag US in WTO over tariff hike: Experts
  • Govt to get around Rs 8,044 cr dividend from Coal India
  • SBI tightens noose around borrowers in jewellery sector
  • PFC’s power projects with 14,000 Mw capacity to go down insolvency alley
  • SBI, UCO Bank looking for buyers to clear off Rs 12.45-billion NPAs
  • PM Modi calls for concessional, less-risky financing for solar projects
  • ‘Powerful’ UP govt is top defaulter with Rs 100-bn power dues
  • Need $1 trn to achieve 1 TW solar power capacity by 2030: Emmanuel Macron
  • Govt to invest Rs 50 bn in Food Corporation of India in 2 years: Parl panel
  • India on its way recovering from demonetisation disruptions: IMF
  • GST Council meet: E-way bill from April, easier returns delayed

Image result for GST

  • India can stand tall in a trade war: Anand Mahindra
  • NTPC to acquire Kanti, Nabinagar JV plants for Rs 3,000 cr
  • As Chinese imports decline, domestic refractory makers eye larger market
  • Women make up just 22% of S&P 500 boards: Report
  • Neuberg Diagnostics to invest ₹300 cr for expansion
  • Manufacturing outlook positive for January-March quarter: Ficci
  • EON to acquire RWE’s Innogy, upending German energy industry
  • India, China key engines of global economic growth: IMF’s Tao Zhang
  • CCI clears RCom’s plans to sell infra assets to Reliance Jio
  • India, China important engines of regional and global economic growth: IMF
  • European Union says no ‘immediate’ clarity from US on trade tariffs
  • Coca-Cola plans to localise two-third of its products portfolio in India
  • High production to keep prices under pressure
  • Rural, infra spaces may see momentum in next few quarters
  • Oil, fund flows, GST glitches key risks in 2018: Crisil
  • Inefficiencies in logistics cost India $95 billion
  • PMO calls officials’ meet on exporters’ GST refunds

Morning Business News Round Up_March 9, 2018

Morning Business News :

  • Indian economy will have V-shaped recovery: Garg
  • PNB may be given 1 year to provision against fraud
  • India Inc has Rs 2L cr cash trapped in balance sheets
  • Government eases norms for e-way bill generation
  • NCLT ​accepts Aircel’s bankruptcy petition
  • Adani, Essar, Jaypee power plants in stressed list
  • Japan to recruit 2 lakh Indian IT professionals
  • Corp resolution: L&T moves NCLT against Bhushan Steel
  • India set to achieve 20 GW solar energy capacities this fiscal itself: Govt
  • Direct tax collection rises 19.5% in the April-Feb period to Rs 7.44 trn
  • Adani rethinks Abbot Point options as debt refinancing stalls in Australia
  • Airbus signs contracts with two Indian startups

Image result for • Airbus signs contracts with two Indian startups

  • Railways aim to save Rs 100 billion a year with reverse auction bidding
  • Airtel-Telenor merger approved by NCLT; Airtel to get ops in 7 circles
  • UAE free trade zone woos Indian companies
  • Choksi blames investigative agencies for flouting law
  • BASF SE in talks to acquire Bayer’s vegetable seed biz
  • Without US, 11 Asia-Pacific states to sign trade deal
  • Apollo Tyres opens an all-women rubber sheet making unit
  • KEC International wins Rs 1,378-cr job orders
  • Bitcoin under pressure as US, Japan revive regulation concern
  • Japan eyes India to fill manpower gap in its information technology sector
  • Azim Premji quietly gives away more to charity
  • Sugar mills hit as excess output trips supply balance
  • Corruption common in public sector banks but trust intact, says survey
  • Parliamentary panel, SBI flag concern over stressed power companies
  • Equity MF inflows intact despite sharp market fall
  • Positive momentum in sales adds more teeth to auto sector
  • ED confident of Nirav’s deportation to India
  • L&T Infotech to help America’s vintage churches from decaying

Morning Business News Round Up_March 8, 2018

India, Mauritius to hold trade talks next month

Mallya’s abandoned yacht seized over unpaid wages

Tata steel identified as highest bidder for Bhushan Steel

US trade deficit jumps to more than nine-year high

RBI slaps Rs 40L penalty on SBI for flouting norms

Related imageNissan in talks to buy France’s Renault stake

CCI fines Jet, Indigo, SpiceJet for doing unfair biz

India pitching for sovereign rating upgrade to Fitch: FinMin official

Government cancels Jaypee Cement’s coal block in Madhya Pradesh’s Mandla

Railways incurs Rs 40-bn loss in 3 years by running Mumbai locals: Govt

Sebi ‘defers’ implementation of the loan default disclosure framework

ETF assets surge four-fold in 2 years on steady inflow from EPFO

Sebi’s P-note derivative ban fails to dent Indian futures market volumes

RCom appeals in Bombay HC to protect lenders’ interest

Economy bottomed out, on the rise again: Niti Aayog

Govt package to breathe new life into telecom companies

Sugar output for 2017-18 seen at record 29.5 mt: ISMA

BARC India ties up with Airtel Digital TV to use RPD for viewership

India ranks 52 in Mastercard women entrepreneurs index

Liberty House highest bidder for Amtek Auto acquisition

GST Council may delay e-way bills, levy GST on raw alcohol

PE investments fall 60% in February with no mega deals

India Post Payments Bank to launch 650 branches by April: Manoj Sinha

Pepperfry raises Rs250 crore from State Street Global Advisors

GST filing: Simpler module may be finalised on March 10, says official

Women in India earn 20 percent less than men, says Monster report

International Labour Organisation projects unemployment rate at 3.5% in 2018: Government

SBI puts up Simbhaoli Sugars, 14 other NPA accounts for sale

Sebi reconstitutes panel on corporate bond market

Bharat Dynamics IPO from March 13

PSU banks face Rs 20K cr losses on bonds in Q4

Morning Business News Round Up_March 6, 2018

Related imageRBI to inject Rs 1 lakh cr cash into banking system

ONGC Videsh, OIL to develop gas field in Mozambique

Centre to form panel for changes in SEZ policy

List your unencumbered properties: SC to Unitech

Telcos approach TDSAT against predatory pricing norms

IndusInd invokes 6 cr pledged shares of Jaypee Infra

Sales domain can create 2.5 million jobs in 3 years?

Feb services PMI falls to 6-month low as inflation hits demand; jobs rise

I-T Dept probes Rs 10-bn tax refund fraud by govt and PSU employees

Media and entertainment sector ripe for mergers and acquisitions

RInfra arbitration notice to Pipavav Defence promoters over Rs 54 bn claims

RBI imposes penalty of Rs 30 mn on Axis Bank and Rs 20 mn on IOB

China, India to replace US as top oil importers: IEA

Global growth, domestic demand to lift FY19 GDP to 7.5%: Crisil

FinMin sets up panel on fintech sector

Bullish trend continues in edible oil

Dip in robusta production to pull down coffee output

Madras HC issues notice to govt, TRAI on stopping of Aircel’s service

Bhushan Power, Jyoti Structures resolution to be delayed as IRPs dragged to court

JSW Energy acquires JSW Electric Vehicles

Infosys grants 19.3 lakh stock units to Salil Parekh, other key officials

PNB fraud going on since 2010: CBI tells court

HDFC raises Rs1,894 crore via QIP to global investors

COAI hits back at Reliance Jio, says no case for defamation

China, world?s second largest economy, sets 2018 GDP target at around 6.5 per cent

Firms turn socially responsible with 41% rise in CSR spends, says survey

PNB scam: Four accused sent to CBI custody till March 17

Jio Phone maker Lyf tops India?s handset market in January, says report

Tata Motors to have 25% women workforce in 4-5 years

Digital economy spells boom for data centres

CBI questions RP Info Systems director in Rs 515 crore ?fraud? case

Axis Bank penalised for not complying with NPA norms

Cloud hangs over Chidambaram as PAC zeroes in on 80:20

UAE exports decline sharply post-GST

Morning Business News Round Up_Feb 28, 2018

Market volatility won’t stop more rate hikes: Fed Chair

Monetisation of road projects can fetch Rs 1.25L cr’

Probe NPAs above Rs 50 cr, alert CBI, PSBs told

World’s biggest wealth fund returned $131b in 2017

Nirav Modi-owned Firestar files for bankruptcy

Dalmia Bharat consortium highest bidder for Binani

Big banks brought stress to the system: RBL Bank

Total foodgrain production estimate hits record 277.49 mn tonnes in 2017-18

Image result for GSTGST revenue collection dips marginally in Jan to Rs 863 bn

Jute industry stares at nearly Rs 8 bn loss on dilution plan

Moody’s upgrades outlook on IDBI Bank to ‘positive’ from ‘stable’

AIIB approves $1.5-bn in loans to India for infrastructure projects

15-day deadline to public sector banks for identifying risks

PNB does not need immediate capital allocation?

No transaction fee on cross-currency derivatives trade for 3 months: NSE

PM woos South Korean investors, assures protection

Andrew Yule to divest engineering division

Banks’ NPA from gem and jewellery sector rises to 30%

PNB fraud: Banks seek forensic audit of Gitanjali Gems

Telecom firms free to match Reliance Jio’s cheap tariffs, rules Trai

GIC to buy minority stake in Prestige’s Exora Business Parks

Creditors may offer to sell Amtek Auto along with subsidiaries

PNB says fraud may cost bank nearly $2 billion

Siemens unit’s IPO value is said to slip toward $32 billion

Arun Jaitley seeks higher funding for India from AIIB to bridge infrastructure gap in Asian region

Comcast challenges Rupert Murdoch with $31 billion offer to buy Sky

PNB Fraud Case: Part of Nirav Modi’s money trail leading to Delaware in US, says ED source

Finally bank credit growth moves into double-digits in Q2

Hindustan Zinc invests Rs 600 cr in 2 new mills

MFI gross loan portfolio up 43%, delinquencies down

Essar Steel auction a labyrinth of complex laws and ambiguities

Govt may double import duty on wheat

Morning Business News Round Up_Feb 27, 2018

Morning Business News :

  • NCAER pegs India’s 2018-19 economic growth at 7.5%
  • CBI seeks details of nostro transactions from 5 banks
  • DGS seeks HUL response on GST calculation method
  • WhatsApp leaks: HDFC Bank submits report to Sebi
  • Bhushan Steel bid: Liberty makes case before NCLT
  • Services, industrials to lift Q3 GVA print to 6.8%
  • UPI-based system mulled for retail investors in IPOs
  • Rs 11 trillion priority sector lending target achievable: FM
  • SBI Chairman expects PNB to clear Rs 13 bn dues
  • RInfra wins Rs 2.92 bn arbitration with Goa govt over non-payment of dues
  • RIL-BP’s $4 bn plan for developing 3 sets of discoveries in KG-D6 approved
  • Weinstein studio to file for bankruptcy as investors stop funding
  • ACC shelves plans to merge with Ambuja Cement
  • KYC norms for e-wallets made mandatory from March 1

Image result for KYC norms for e-wallets made mandatory from March 1

  • Technology, better supervision needed to tackle banking malpractices: CII
  • Aircel’s woes rise as majority shareholder Maxis decides not to infuse more funds
  • Daiichi-Ranbaxy row: HC orders attachment of Singh brothers’ assets
  • PFC to lend Rs 50,200 cr for UP power projects
  • Indian equities no longer top pick among emerging markets
  • Trai begins consultation to fix service quality norms for LTE calls
  • Anadarko in talks with nine Indian firms to sell gas from Rovuma basin
  • Idea-Vodafone building war chest to take on rivals
  • Kalyan Jewellers looks to file IPO papers in a month
  • BSNL selects Nokia to launch 4G service in 10 circles
  • HG Infra IPO 11% subscription on Day 1
  • 70% IGST refund stuck due to flawed claims filed by exporters: CBEC
  • Vodafone group CEO Vittario Colao terms Trai predatory pricing rule as unfair
  • Govt publishes names of 9,500 high risk non-banking financial companies
  • Grundfos bets big on e-pumps; eyes Rs 1,000 cr turnover from India in 4 years
  • RBI raises currency derivative trade limit to USD 100 mn
  • Hindustan Zinc invests Rs 600 cr in 2 new mills
  • Bank NPAs to rise with new resolution rules
  • Warburg Pincus to sell part stake in Lemon Tree Hotels via IPO
  • Auction by Andhra Bank exposes chinks in banking

Morning Business News Round Up_Feb 26, 2018

Morning Business News :

  • PNB-wary banks now plan to get solid cover for lone wolf attacks
  • Sebi, bourses probe stock manipulation at PSBs
  • PNB: ED to seek info from over dozen countries on Nirav
  • AP signs MoUs of Rs 1.75L cr, RIL to invest Rs 55K cr
  • COAI says no question of apology to Reliance Jio
  • Taxmen told to go the whole hog for record Rs 10 lakh crore kitty
  • India will soon leapfrog to cutting-edge rail technology’
  • Dr Reddy’s gets EIR, says USFDA maintained OAI status for Srikakulam plant
  • JSW Steel close to acquire Italian firm Aferpi for Rs 6 billion:
  • Essar Shipping plans to double cargo tonnage to 30 MT by 2019-20: CEO
  • Catholic Syrian Bank to increase equity to allow Fairfax on board
  • PNB scam, possible Fed rate hike spur Rs 100 bn FPI sell-off in Feb
  • MSE gets Sebi nod for electronic book building mechanism for online bidding

Image result for MSE gets Sebi nod for electronic book building mechanism for online bidding

  • Jaitley slams regulators’ failure to detect PNB fraud
  • One-page return, staggered filing likely for GST
  • Multinational accounting firms face the heat
  • Bhushan Power bid: NCLT to hear Liberty House plea on Monday
  • Pharma industry told to make use of changing demographics
  • Turkish ground handling co Celebi plans to invest in India
  • ONGC Videsh drops plan to build LNG export facility in Iran
  • Hindustan Zinc to commission 2 new mills at Rs600 cr cost
  • Grasim Industries gets green nod for Rs1,800 crore expansion project
  • SBI set for UK restructuring
  • Europe to shut ABLV Bank at center of a scandal roiling Latvia
  • India may allow only commercial coal mining in the future
  • 70% IGST refund stuck due to flawed claims filed by exporters: CBEC
  • Focus on investment, productivity to lead to sustainable growth rate: Report
  • Huawei unveils world’s first 5G commercial modem
  • Tech Mahindra bets big on 5G services, sets up lab in Bengaluru
  • Wealth of Indian rich equals15% of GDP, poor getting poorer
  • Sebi, SEs look for manipulation in bank derivatives
  • FPIs pull out Rs 10,000 cr from equity market this month
  • CBI files Rs 97 cr loan default case against Simbhaoli Sugars; chairman, Dy MD
  • FinMin, RBI to hold talks on raising FII limit in G-Secs