Morning Business News Round Up_ Nov 13, 2018

  • Delays at NCLT cost banks Rs 4,000 cr: Icra
  • Uco Bank seeks Rs 7000 crore capital from the govt
  • IL&FS new board to rebid broking arm ISSL
  • Competition Commission orders probe against Intel
  • Vedanta plans to inject Rs 15,000 cr in Odisha
  • IIP data improves in Sep, inflation eases in October
  • Kellogg eyeing mega alliance with Haldiram’s
  • Oil prices gain over 1% after Saudi Arabia talks of cut in output
  • India paid far more in cotton subsidies than WTO’s prescribed 10%, says US
  • Unions urge Coal India employees to ignore govt’s share sale offer
  • India’s sugar exports hit by falling prices, govt offers transport subsidy
  • Britannia Q2 net profit up 16% on brand investments, widening distribution
  • NITI Aayog seeks more time tofinalise back-series GDP data
  • JNPT to call bids for SEZ on 296 acres
  • Jet Airways reports consolidated net loss of Rs 1,261 cr
  • India to lease out half of Padur strategic oil storage to ADNOC
  • ONGC ordered to pay wharfage compensation to Mumbai Port Trust
  • USFDA completes Biocon’s Bengaluru plant inspection
  • Govt refuses to yield on Section 7 of RBI Act
  • India signs initial pact to lease half of Padur storage to ADNOC
  • Germany’s SAP to buy Qualtrics for $8 billion in cash
  • Q2 results: Aurobindo Pharma profit falls nearly 22% to Rs611 crore
  • Diageo sells Seagram’s VO to Sazerac in $550 million deal
  • Netflix to test lower-price plans as it seeks more Asian users
  • 19 GW of stressed power assets eligible for SHAKTI-II: Crisil
  • Bank of India posts Q2 net loss of Rs 1,156 crore on jump in provisions
  • Abu Dhabi oil co hires India’s strategic oil storage
  • Whatsapp, Skype, Hike soon to come under regulatory regime; TRAI seeks industry views
  • Oil India Q2 profit rises over 33 pc, but misses estimates
  • NCLT counsels liquidation of Adhunik as Liberty House defaults on payment date
  • Jaitley links minimising bad loans with credit flow
  • PE/VC exits till Oct cross yearly highs
  • Ruthless competition could cripple telecom, aviation

Morning Business News Round Up_ Nov 12, 2018

  • Oil short-sellers are back as OPEC takes centrestage
  • Tech Mahindra looks at global 5G rollouts as opportunity
  • RBI seeks time till Nov 26 to respond to CIC notice
  • NBFCs push credit demand by 14.4% to a 5-year high
  • Exports: 16 out of 30 sectors in negative zone in Sept
  • India contracts 8 lakh tonnes of sugar exports so far
  • Disinvestment dept to fix rules for sale of enemy shares
  • Usha Martin gets nod from 99.99% shareholders for steel biz sale to Tatas
  • Cochin Shipyard on course to execute Rs 150 bn worth projects, says CMD
  • FinMin rejigs CPSE ETF, includes NTPC, 3 other PSUs; eyes Rs 80 bn via FPOs
  • Steel industry growth hikes India’s coal imports by 8% to 134 mt in Apr-Oct
  • Sebi picks Wipro, L&T Infotech among 7 cos for market vigilance activities
  • India, Russia banks to discuss rouble-rupee trade today
  • ‘SEBI’s decisions are for the benefit of the customer’
  • FinMin: RBI ‘must do more’ for financial sector
  • Puravankara sales up 23% in first half this fiscal
  • Bharti Airtel to pre-pay $1.5 billion debt with Netherlands arm
  • RCEP leaders to call for early conclusion of mega-trade pact
  • Volkswagen plans entry-level electric car to challenge Tesla
  • JPMorgan leads $283 billion Brexit shift to Frankfurt
  • Saudi Arabia to cut oil supply amid signs of new glut
  • India’s liquidity crisis set to rock RBI board meeting
  • Govt weighing sale of 149 ONGC fields to private companies
  • Alibaba Singles’ Day in China smashes $25 billion sales record
  • GST a monumental reform, hit growth only for 2 quarters: Finance Minister Arun Jaitley
  • Arvind Pangariya cautions: Import duty hikes can be counter-productive
  • India’s coal imports rise 8 percent to 134 MT in the April-October
  • India witnesses over 4.36 lakh cyberattacks from Russia, US, others in January-June: F-Secure
  • RCom settles case of alleged failure to inform interest payment default on debentures: Sebi
  • RBI’s controls clash with govt’s ‘short-term goals’
  • 357 infrastructure projects show cost overruns of over Rs 3.39 lakh crore
  • GST compensation to states falls to Rs 11,900 crore in Aug-Sept

Morning Business News Round Up_ Nov 09, 2018

Morning Business News :

  • 4 public sector banks may come out of PCA shackles
  • Demonetisation impact: Bharat going digital for payments
  • Govt to open charging stations for individuals to boost EV dream
  • Godrej Properties cuts net debt by half in 1 year
  • Finance minister Arun Jaitley says Mastercard, Visa losing out to local players
  • L&T, Tata Power want a piece of Aarey forest land
  • Carmakers slam brakes on output as demand slows
  • Falling solar power cost lead to pricing disputes
  • Fortis Healthcare CEO Bhavdeep Singh quits
  • India’s Essar Steel seeks LNG cargo on GLX trading platform
  • Small retailers flocks to ecommerce for buying smartphones and televisions
  • Moody’s puts Airtel on ratings downgrade watch
  • Trai to meet telco chiefs in December, issue OTT paper next week
  • DGCA asks Jet Air, SpiceJet to take action on sensor-related issues with Boeing 737 MAX
  • Centre reckons on REC-PFC deal to meet Rs 800-billion divestment target
  • Maruti Suzuki paring production amid slowing sales and tepid demand

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  • Vedanta’s commercial power sales up 19% on electricity demand revival
  • Biocon’s Malaysia insulin facility on the path to break even in FY19
  • Surge in fuel demand revives global investors’ interest in retail outlets
  • IL&FS crisis: Did LIC violate Irdai guidelines while increasing its stake?
  • Why does ITC need multiple brands to mark its presence in dairy market?
  • Refund Rs 180 mn to homebuyers for not handing over flats: NCDRC to Unitech
  • Vedanta’s commercial power sales up 19% on electricity demand revival
  • Africa IPO won’t change shareholding of Tanzania unit: Bharti Airtel
  • Auto industry will see a roller-coaster ride during BS-VI
  • Steel, Commerce Ministries differ on challenging WTO panel ruling
  • NCLT orders insolvency proceedings against Empee Distilleries
  • This festival season, consumer durables sales surge as online, offline channels kick in strongly
  • Tepid Diwali for auto makers on higher oil, interest rates, inflation
  • After a selling spree, FIIs make a return to India’s debt market
  • Govt pumps Rs 3054 cr into Allahabad Bank
  • Manappuram sees borrowing costs rising
  • 50 top NBFCs need ₹70,000 crore in November to redeem commercial papers: Crisil
  • Adani Gas plans to invest ₹8,000 crore in next 5 years: Pranav Adani

Morning Business News Round Up_ Nov 6, 2018

  • SBI Q2 profit slumps 40% YoY to Rs 945 cr
  • India among 8 nations allowed to buy Iranian oil: US
  • ‘Steel sector growth may top GDP numbers’
  • RBI slaps Rs 1 crore fine on Fino Payments bank
  • NBFCs facing liquidity issues but no ‘crisis’: Srinivas
  • Excessive competition can lead to stress: Jaitley
  • Patanjali enters apparel space, eyes Rs 1,000 cr
  • Tata Group in talks to buy a majority stake in Jet Airways: Report
  • Fortis Q2 net loss widens to Rs 1.67 bn; margins improve sequentially
  • Essar Steel operational creditors to move NCLT to seek Rs 50 bn of dues
  • PNB Housing Fin Q2 profit up 33% to Rs 2.53 bn over high-interest income
  • Lupin gets USFDA nod to market generic injection for kidney disease
  • Bosch Ltd plans buyback; profit jumps 19% to₹420 cr
  • No anti-dumping duty on PTFE resin from India, China: USITC
  • Torrent Pharma standalone net profit up 75%
  • Power Grid Q2 profit rises 7.8% to ₹2,309.5 crore
  • Two years after note ban, digital transactions show robust growth
  • Plastics exports jump 31.6% in H1
  • RIL’s ₹10,000 crore shopping spree for Reliance Jio, Reliance Retail
  • Altico invests ₹650 crore in Renaissance Group’s warehouse project
  • Aavishkaar plans to raise $300 million for South Asia fund
  • Bharti Airtel’s African safari takes a curious turn
  • SoftBank’s Kabir Misra’s fund to buy into Meesho, Acko
  • ArcelorMittal’s Essar Steel win spells loss for Gujarat
  • Services October PMI at 3-month high; 3 key things to know
  • Airtel rolls out ‘alternate e-KYC’ in select circles for new connections
  • China’s imports of goods, services to exceed USD 40 trillion in 15 years, says President Xi Jinping
  • CPSE ETF: Another round of PSU divestment likely this month; govt looks to raise Rs 8,000 crore
  • SFIO may summon IL&FS auditors for questioning to dig out accounting lapses
  • Mutual Funds assets surged by 43.44% in last 2 years
  • DHFL repays commercial paper worth Rs 1,775 crore
  • TCS faces US jury over sacking of American staff

Morning Business News Round Up_ Nov 5, 2018

  • CIC issues show-cause notice to RBI Governor
  • FinMin likely to finalise capital infusion in PSBs
  • Adani Trans co to buy KEC’s arm for Rs 227 cr
  • Liberty House misses deadline to pay Amtek lenders
  • End of NPA cycle near: P. K. Gupta, MD, SBI
  • AI’s Rs 29k cr capital debt to be moved to SPV
  • Mukesh Ambani sets up Estonian JV for e-governance
  • Deloitte, EY in shortlist to revamp online redressal, inspection: Sebi
  • AAI, secondary aluminium producers lock horns over import duty hike
  • Govt to levy anti-dumping duty on uncoated paper imports from 3 countries
  • RBI to set up registry to give authorities ‘360-degree’ data on borrowers
  • L&T, BEL among 8 players in fray for advanced CCTVs at 6,000 rly stations
  • US removal of trade sops to hit handloom exports
  • India, Iran put systems in place to continue crude shipments
  • Rupee may touch 76 levels against dollar in next 3 months: UBS
  • 75 lakh new tax filers added to IT net this fiscal
  • Marico PAT up 18% at Rs 214 crore on improved rural sales
  • Decorative paints likely to get costlier in December
  • Aircel-Maxis case: NSE chairman Ashok Chawla facing Sebi probe
  • SBI puts up 11 NPA accounts for sale to recover Rs1,019 crore dues
  • Singapore assessing 2019 GDP growth forecast as US-China trade war risks loom
  • Ex-RBI governor Bimal Jalan: Government is ultimately the highest authority
  • Bharti Airtel’s African safari takes a curious turn
  • Modi government’s selloff push: Sale of 10% stakes in GIC, New India Assurance may fetch Rs 10,000 crore
  • Protecting depositors, taxpayers is public interest: RBI to Government
  • Trump-Xi trade deal likely to begin rather than end at G-20
  • RBI kick-starts process to set up PCR for capturing details of borrowers
  • PNB to step up disbursals to MSME, retail sectors
  • FPI outflow crosses Rs 1 lakh cr this year
  • $34b forex lost in 6 months, but no need to panic
  • Modi announces quick loans, relaxation in labour laws for MSMEs

Morning Business News Round Up_ Nov 2, 2018

  • Cabinet approves ordinance to amend companies law
  • India, China to do joint research on WTO reforms
  • HC to hear Daiichi’s case to block Fortis deal on Nov 15
  • Mobile manufacturing a $230 bn opportunity: Report
  • Current economic scenario not like 1991 crisis: Jalan
  • Airlines under CCI scanner for alleged airfare fixing
  • Telcos for more time to phase out Aadhaar-based e-KYC
  • Pollution control authority shuts NCR rice mills
  • SBI withdraws insolvency plea against Uttam Galva Steels
  • India engaged with US, other stakeholders on Iran oil issue: MEA
  • Govt’s 3% share sale in CIL over-subscribed;to fetch Rs50 bn
  • Govt delays implementation of retaliatory tariffs on US goods till Dec 17
  • Power sector to attract Rs 11.56 trillion investments in five years
  • 50 Indian items hit as US scraps duty-free privilege on 90 products’ import
  • GST collection exceeds ₹1-lakh crore in Oct
  • Rabi crops may face weather risk
  • Maruti posts marginal increase in Oct sales at 1,46,766 units
  • HCC posts ₹1,525-cr loss for Q2 due to write offs
  • Tata Power seeks to triple discom business
  • Vedanta imports more alumina than scrap shipped in by recyclers
  • HPCL net slips 37% on lower refining margin
  • NBFCs seek new funding routes to tide over liquidity crunch
  • DLF Q2 profit rises thirty-fold to ₹373.21 crore
  • Refund money raised via debentures with 15% interest, Sebi tells Sahara
  • Tata Steel claims Bhushan Power lenders and JSW violated NCLAT orders
  • HDFC Q2 net profit rises 25% to Rs 2,467 crore
  • Hero MotoCorp sales rise 16% to 7,34,668 units in October
  • India biggest commitment for AIIB, says official
  • GN Bajpai resigns from IL&FS board
  • India may impose anti-dumping duty on a chinese chemical
  • China having hard time, says US President Donald Trump over trade war
  • ArcelorMittal Q3 net income declines 25 percent to USD 0.9 billion
  • Manufacturing sector activity rises in Oct on robust order flow: PMI
  • RBI buys 13.7 tonnes of gold in Sept quarter
  • HDFC Bank is India Inc’s top wealth creator
  • Banks take 54% haircut in 52 cases resolved
  • Volvo clocks record 40% sales growth in Jan-Oct 2018

Morning Business News Round Up_ Nov 1, 2018

  • India now ranks 77 in ease of doing business
  • India certainly not ‘tariff king’: World Bank official
  • Tata Motors posts Rs 1,049 crore loss in Q2
  • Core sector growth slows down to 4.3pc in Sept
  • Tata reach pact with ATC; to sell 13% stake
  • Amrapali diverted funds through 200-250 dummy firms
  • Spectrum sale may net only Rs 40,000 crore
  • Core sector growth slows down to 4-month low of 4.3% in Sept
  • Vedanta Q2 net profit at Rs 11.35 bn, down 43% from same period last year
  • Canara Bank Q2 profit rises 16% to Rs 3 bn; net interest rate grows 18%
  • India looks to adopt deterrent penalties in data protection law: IT Secy
  • Reliance MF Q2 net profit up 12% to Rs 1.14 bn, revenues flat at Rs 3.91 bn
  • Lupin Q2 net profit drops 41.5% to Rs 2.66 bn as sales slip in US
  • Tatas, TCS violated rules in ouster of Mistry: RTI
  • Biologics business more than doubled in Q2, says Biocon CFO
  • IL&FS board proposes sale of subsidiaries, capital infusion
  • United Spirits Q2 profit surges 69% to ₹259 crore
  • Adani Power posts standalone Q2 net loss
  • Apple’s India profit zooms 140% to ₹896 cr in FY18
  • RBI autonomy essential, says govt
  • L&T Q2 profit rises 23% to Rs2,230 crore, beats estimate
  • Railways increases freight rates for coal, steel, iron ore by almost 9%
  • ABB India powers ahead in Q2 as portfolio rejig pays off
  • NIIF acquires IDFC Infrastructure Finance
  • Jet Airways gets payment delay notice from aircraft lessors
  • No liquidity crisis in NBFC segment: Reserve Bank of India
  • Amid reports of Urjit Patel resignation, FinMin says RBI’s autonomy ‘nurtured and respected’
  • China’s aversion to big bang stimulus tested by Donald Trump’s US tariffs
  • Thermal power plant addition seen slowing in FY19-23 on PPA scarcity
  • FIIs to take a backseat over next 6-9 months
  • India Inc faces ‘trust deficit’ after IL&FS default, says S&P
  • Kotak panel seeks 2-3 quarters to lift IL&FS out of debt trap
  • India will pay in Rs for Iran oil post-US sanctions
  • Government eyes consolidation route to reach divestment goal

Morning Business News Round Up_ Oct 31, 2018

  • RBI to inject Rs 12,000 cr liquidity in system on Thu
  • Government to sell 3% stake in Coal India
  • PNB scam: Choksi opposes ED’s fugitive offender plea
  • GE cuts dividend, splits loss-making power unit
  • Tata Motors starts production of upcoming SUV Harrier
  • Cognizant records $28 million loss in India bribe talks with US DOJ, SEC
  • UK may suffer long recession after no-deal Brexit: S&P
  • Sebi not in favour of NSE-MCX merger due to co-location controversy
  • Sebi cautions investors against dealing with foreign trading portals
  • Tech Mahindra Q2 : Profit at 27% YoY beats street estimates
  • Centre approves construction of 215,000 houses in 6 states under PMAY (U)
  • Sebi exempts govt from making an open offer in PNB capital infusion
  • Dr Reddy’s facility fails to clear the inspections by USFDA yet again
  • FinMin looks to bury the hatchet with RBI
  • Paper demand to touch 20.8 million tonne in FY21
  • Italy, India to set up fast track mechanism to promote investments
  • Govt kickstarts process for further M&As in energy sector
  • Fortis case: Court bars 7 cos owing Singhs ₹639 cr from selling assets
  • Emami Q2 profit falls amid flat revenues
  • RBI looked the other way when banks lent excessively: Jaitley
  • Jet Airways brings Goldman, BCG on board in revival efforts
  • FSDC discusses NBFC liquidity issues, RBI promises adequate fund flow in system
  • Shapoorji Pallonji, Royal Vopak to set up LPG terminal in Gujarat
  • BPCL to shut crude unit, secondary capacity at Kochi refinery in Dec
  • Centre, states apportion Rs 32,000 crore IGST in October
  • Six Tata Trusts withdraw pleas against Income Tax department notices
  • ICAI fast-tracks pending cases for enquiry
  • SBI halves ATM withdrawal limit to Rs 20k for some card holders
  • Govt eyes consolidation route to reach divestment goal
  • Spat shows central bank’s independence: Morgan Stanley

Morning Business News Round Up_ Oct 26, 2018

  • Fiscal deficit widens in H1 of FY19
  • Maruti Suzuki Q2 profit falls 10% YoY to Rs 2,240 cr
  • Airtel profit slumps 65% YoY to Rs 119 crore
  • Essar board offers to pay Rs 54,389 cr dues
  • Bhushan Power auction compromised: Tata Steel
  • Odisha clears Hindalco’s Rs 5000 cr investment proposal
  • YES Bank Q2 profit drops 4% YoY to Rs 965 cr
  • RBI plan to move from wholesale cash cycle to a retail-based model
  • India’s sugar output may decline marginally this yr due to cane crop damage
  • Oil steadies near two-month low as US stockpiles climb, equity rout eases
  • Biocon Q2 net profit surges five-fold on exceptional income
  • Sebi issues norms to levy Rs 100,000 on agri-commodity derivatives turnover
  • North-East monsoon pattern evolves, but no rains just yet
  • Basmati paddy price surges 25% on expectation of output decline
  • TVS Motor rolls out special edition of TVS Sport
  • Rising demand propels JSW Steel Q2 profit to ₹2,087 crore
  • Demand for our loans grew as other NBFCs stopped lending: Ajay Piramal
  • Spot rubber skids on buyer resistance
  • Airtel Africa raises $1.25 billion from SoftBank, 5 others before IPO
  • IDFC Bank to be renamed as IDFC First Bank
  • Tata Motors’ JLR opens $1.6 billion manufacturing plant in Slovakia
  • JSW Steel Q2 profit more than doubles on higher output
  • Challenges persist for Wipro despite healthy Q2 results
  • GST anti profiteering clause puts FMCG firms in a fix
  • Startups in India see 108% growth in funding, receive $4.2 billion in 2018, says NASSCOM
  • BHEL share buyback for Rs 1,628 crore: Record date announced; key things about mega PSU stock repurchase
  • NBCC bags Rs 902-cr contract to build AIIMS in Deogarh, Jharkhand
  • ILFS inducts CS Rajan into board of IECCL as additional director
  • Large pharma firms to report double-digit growth this fiscal: Crisil
  • Birla Group plans $5b capex over next three years
  • Sebi sees opportunity for bond market in NPA crisis
  • 63 Moons gets interim relief from high court

Morning Business News Round Up_ Oct 25, 2018

  • RBI may look at relaxing PCA framework
  • India plans trade deal to boost exports to China
  • NCLT directs to move Videocon pleas to one court
  • Vistara gets Rs 2,000 cr from Tata Sons, SAL
  • Tata Trusts denies Ratan Tata’s meeting with UK PM
  • Benami cases: Cabinet okays Adjudicating Authority
  • Airtel’s Africa arm gets $1.25 bn from 6 investors, IPO to follow
  • No anti-dumping duty on chemicals imported from China, Germany, Saudi: Govt
  • Cabinet approves BRICS MoU for joint cooperation in social, labour sphere
  • Govt okays Rs 75-bn fund to help boost fish production, jobs in fisheries
  • IDFC Bank in red for 1st time since market debut, posts Rs 3.7-bn net loss
  • Sebi proposes measures to strengthen framework for debenture trustees
  • Bajaj Auto Q2 net rises 5% on robust sales
  • Co-location exits drag Bharti Infratel net down to ₹600 cr
  • No more BS IV vehicle sales from April 2020, says SC
  • Heinz acquisition bodes well for Zydus Wellness
  • UAE-based BRS Ventures to invest in Indian healthcare
  • VC funding for digital health cos rises 46% to $8 b in 9 months
  • Wipro Q2 profit drops nearly 14% to ₹ 1,889 crore
  • Manipal eyes Medanta after failed Fortis Healthcare bid
  • Jubilant FoodWorks Q2 profit rises 60% to Rs77.7 crore
  • BoB, Vijaya Bank, Dena set up committees on loans, HR and IT
  • RIL takes Reliance Jio route for Jio Payments Bank launch
  • Supreme Court tells RCom to pay Ericsson dues by 15 December
  • India has most outward migrants in 2017, says ADB report
  • Cyrus Mistry floats startup investment fund on second anniversary of his ouster from Tata Sons
  • L&T Infotech Q2 net profit surges over 46% to Rs 400 crore
  • India’s economic growth not inclusive enough, inequality rises
  • Business confidence rises marginally in Oct-Dec
  • 63 Moons gets interim relief from high court
  • Manappuram NCDs offer up to 10.40% interest
  • Modi calls for ‘tax-plus one’ system of honest tax payment
  • PMO asks Sebi to tighten vigil on bond market