Morning Business News Round Up_Mar 05, 2019

Morning Business News :

  • India needs land, labour reform to aid mfg: CEA
  • India Inc’s foreign borrowing down 45% at $2.42 billion in Jan
  • Stressed accounts of Bhushan Power, Essar up for sale
  • After Mallya saga, Sebi wants Companies Act changed
  • MSCI India weight in MSCI EM index likely to fall 20 bps by November-end: Goldman Sachs
  • Gail chosen for Vedanta’s Barmer gas output buy
  • ONGC recieves single bid from US firm for oil field production upgrade
  • RIL arm to acquire stake in Grab a Grub and C-Square for Rs 228 crore
  • IDBI Bank gets govt nod to handle import, export transactions with Iran
  • DIPAM to set up asset-monetisation cell to hasten sale of CPSE assets
  • RBI slaps Rs 11-cr fine on 4 banks for non-compliance in Swift operations

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  • GMR Hyderabad airport divests stake in flight training academy
  • ‘Trump’s tirade against India’s import tariffs unfair’
  • Coffee exports up 13% in first 2-months of 2019
  • BHEL to set up solar-based EV charger network on Delhi-Chandigarh highway
  • Adani Ports to pump ₹53,000 cr to expand capacity of Kattupalli port
  • Jet pledges FDs worth ₹1,500 crore with State Bank of India to stay in the air
  • OPEC likely to defer output policy decision until June: Report
  • Superior execution powers ABB India, but lofty valuations set the bar high
  • Mahindra Lifespace looks to add strategic investment partners
  • Panel to review if Sun Pharma, Meril Life merit price cap relief
  • Despite shining steel, power and debt to remain drag for JSPL
  • Nestle India unlikely to increase royalty payout beyond 4.5%
  • Grant Thornton identifies Rs 13,000 crore worth irregularities in report on IL&FS
  • Orchid Pharma set for fresh EOIs for resolution plan, Divis and Gland Celsus Bio show interest
  • Govt to set ball rolling for 1 GW solar power in NE
  • Helpless Mumbai Port Trust sits on 1,900-acre prime land
  • DBS Bank floats local arm, aims to triple business
  • GST collection drops to Rs 97,247 crore in February
  • Sebi board approves lowering of fees, easier norms for startups

Morning Business News Round Up_Mar 01, 2019

Morning Business News :

  • Core sector growth slows down to 1.8% in January
  • Airtel gets board approval to raise Rs 32,000 crore
  • India to see lower productivity, weak demand: D&B
  • Govt keen on amalgamation of PSBs: Arun Jaitley
  • NCLAT orders resolution on Essar Steel bid by March 8
  • Sebi wants govt rethink on RBI representation on its board
  • NSE to introduce Brent Crude Oil futures contract on Mar 1
  • DBS to convert its India operations into wholly-owned subsidiary from Mar 1
  • 2018 best year for M&As as deal values rise 126% to $80 bn
  • Sodexo to increase focus on small and medium enterprises in India

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  • International Finance Corp to invest $165 mn in Bajaj Finance, Dodla Dairy
  • Infosys says Kiran Mazumdar-Shaw sold 1,600 shares without pre-clearance
  • Naresh Goyal agrees to step down as chairman of Jet Airways
  • Iran buys Indian sugar to ease its oil-money headache
  • LG India aims for 30% growth in commercial ACs this year
  • NIIF, CDC & Eversource Capital to invest $330 mn in Ayana
  • Lupin launches chronic angina treatment drug in the US
  • Future Group to bring 7-Eleven stores to India
  • Cabinet clears ₹10,000 crore FAME II scheme
  • RBI constitutes task force under Usha Thorat on offshore rupee markets
  • REC board approves borrowing limit hike,₹11 per share interim dividend
  • J&J allowed to resume baby talc production
  • Fraud-hit PNB ranks highest in implementation of ‘reforms agenda’ in 2018: Study
  • SBICap Ventures’ Neev Fund to invest $5 million in renewable energy firm Prespl
  • Essar Steel case: NCLT rejects plea from 8 operational creditors
  • From $6 billion to $1.8 billion: Govt revises down FDI inflows into chemicals drastically
  • Rupee recoups 52 paise to end at 70.72 per dollar
  • Kotak ties up with ADIA for USD 600 mn distressed assets fund
  • Increasing exports can lead to better jobs, higher wages in India: World Bank report
  • L&T Finance to raise up to Rs 1,500 cr via NCDs

Morning Business News Round Up_Feb 28, 2019

Morning Business News :

  • India’s GDP growth seen at 6.7-7.2% in 3rd quarter
  • Norway’s $1 trillion fund loaded up on stocks at end of 2018
  • BHEL pays 40% interim dividend for FY19
  • Govt brings 42 cancer drugs under price control
  • Billionaires take $1 tn hit from 2018 mkt meltdown
  • Cabinet likely to clear Rs 10,000 crore FAME II scheme
  • OnePlus, Qualcomm plan to start 5G trials in India
  • National drug pricing regulator fixes retail value of 36 formulations
  • Rs 20,000 cr GST evasion detected in April-Feb FY19, half recovered
  • Banks oppose RCom’s proposal to use tax refunds to pay Ericsson dues
  • Wipro to sell part of its Appirio business to Alight for $110 million
  • Airtel, Vodafone-Idea fibre JV a business opportunity for PE funds
  • NPPA caps trade margins to 30% for 42 anti-cancer drugs
  • IGL adding record number of PNG users this fiscal
  • PE deals grew 36% y-o-y in January this year

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  • BPCL-Kochi Refinery’s second petrochem project to start in 2022
  • Panel to overhaul direct tax law seeks 3-months extension
  • IOC wins city gas licences for 10 areas; HPCL 9
  • Brazil to challenge India’s sugar subsidies in WTO consultation
  • SBI reports fraud worth ₹7,951.29 crore in Apr-Dec
  • Saudi defiant on oil cuts after Trump tells OPEC to ‘relax’
  • Chalet Hotel eyes distressed assets, more hotel brands for expansion
  • Sebi plans amending norms pertaining to corporate debt rejig
  • India to evaluate Chinese telecom equipment threat after US, Australia boycott Huawei
  • Massive interest rate cuts on cards as RBI seen aggressively easing monetary policy
  • Adani wins bid to run Thiruvananthapuram airport; Kerala govt moves HC against transfer
  • Bank of Baroda puts NPAs worth Rs 6,000 crore on sale, including RCom debt
  • Sebi’s not ‘fit and proper’ norm applies to all 300
  • Union Cabinet set to clear Rs 10,000 crore electric vehicle scheme
  • Domestic cement sector to see modest growth in FY20: report
  • India’s economy seen losing momentum ahead of election

Morning Business News Round Up_Feb 27, 2019

Morning Business News :

  • April-Jan fiscal deficit at 121.5% of full-year target
  • SBI calls lenders’ meeting with Naresh Goyal, Etihad
  • India delays levying retaliatory tariff on U.S. goods
  • Trai to decide rules for internet calling firms soon
  • JM files insolvency case against Hotel Leelaventure
  • True North buys 51% stake in Max Bupa from Max India
  • After tough times, future is bright for telcos: Mittal
  • RBI removes Allahabad Bank, Corp Bank, Dhanlaxmi from PCA framework

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  • ED attaches Nirav Modi’s properties worth Rs 147 crore in PNB fraud case
  • Adani Group emerges highest bidder for Guwahati airport: AAI official
  • NBFC crisis: $22 billion already gone, but more dark days likely ahead
  • IOC, HPCL win maximum areas under tenth round of city gas bidding
  • ArcelorMittal sees major capex risk in Essar Steel acquisition
  • India’s growth momentum slowed down in late 2018 : Poll
  • Global, national AAA ratings are not comparable: Crisil
  • Govt eases import norms for prototype devices
  • Mustard crop seen up 19% on higher yield
  • BHEL’s claims: NCLAT dismisses Monnet Power’s petition
  • E-wallet companies welcome extension in KYC deadline
  • Future Group’s too many diversification was a mistake: Kishore Biyani
  • Airtel won’t buy 5G spectrum at current prices, says Sunil Mittal
  • Copper slips from 8-month high, dwindling stockpiles limit losses
  • Vedanta sells down Sterlite copper concentrate stockpiles: Report
  • Rating action: DHFL’s debt downgraded by Icra
  • Finance ministry asks PSBs to submit asset sale details to ARCs
  • Northeast gas grid project likely to get Rs 5k crore from Centre
  • Jaypee Infra creditors vote against another forensic audit demand
  • Prabhu for extending interest subsidy to more products from chemical sector
  • India, Italy discuss ways to promote trade, investments
  • Kotak Mahindra Bank raises foreign investment limit
  • Sensex ends 240 points lower on rising India-Pak tension
  • Iran buys Indian raw sugar for the first time in five-years: sources

Morning Business News Round Up_Feb 25, 2019

Morning Business News :

  • Saudi Arabia to make India regional hub for oil supply
  • Assured return scheme for NPS subscribers proposed
  • REC needs nod from at least 50% lenders for PFC deal
  • India to be 2nd-largest 5G market in 10 yrs : Huawei
  • 3-4 more banks to come out of RBI’s PCA framework
  • Warren Buffett’s firm reports $25 bn Q4 loss
  • May postpones vote on Brexit deal until March 12
  • GST Council cuts tax on under construction residential houses to 5%

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  • SBI considers moving NCLT for insolvency proceedings against Jet Airways
  • Blackstone, Embassy to launch India’s first real estate investment trust
  • Tata Steel, JSW Steel are key beneficiaries of the rise in steel demand
  • Raymond revamps supply chain, weighs on digital tools for more efficiency
  • Bharti Airtel set to conduct trial of Nokia’s 5G-ready telecom gear
  • JNPT SEZ to bid out 300 acres to manufacturing companies
  • India’s financial condition looking up, says CII-IBA
  • Boards of companies should assert ethical conduct: CII
  • 347 infra projects show cost overruns worth over Rs 3.2 lakh cr
  • Hindusthan National Glass to raise ₹1,800 crore to pare debt
  • Uber in talks to sell India food delivery business
  • KKR, BlackRock set to invest in Adnoc pipeline unit
  • Afghanistan launches new export route to India through Iran
  • Wipro shareholders approve bonus issue, increase in authorised share capital
  • Seven of top 10 Indian companies lose₹67,980 crore in m-cap, TCS worst hit
  • RIL preparing to list Reliance Retail soon
  • US-China talks: Superpowers haggling over currency pact
  • Lack of big-ticket deals drive down PE/VC investments in January 2019
  • Swiggy in talks to buy Uber Eats India, deal expected to be sealed soon
  • Singapore largest FDI source, leaves Mauritius far behind
  • PNGRB rejects HPCL review petition on ATF pipeline
  • FPIs sell blue-chips, take away Rs 30K crore
  • Foreign portfolio investors pull out over Rs 1,900 cr from debt market in Feb
  • Unregulated Deposit Ordinance bans only ponzi schemes not regulated deposits

Morning Business News Round Up_Feb 08, 2019

Morning Business News :

  • RBI rules out changes in one-day NPA recognition norms
  • India jumps 8 places to 36th on International IP Index
  • JLR global sales dip 11% in January
  • RBI for intense scrutiny on NBFCs, but no AQR likely
  • Adani Enterprises Q3 profit slumps 72% to Rs 80 crore
  • JLR bleeds Tata Motors with Rs 27K cr loss
  • 65,000-km highways worth Rs 5.35 trillion to be built by 2022, says Gadkari
  • Irdai asks insurance firms to mitigate risks to prevent IL&FS-type fiascoes
  • Exit of BoI, BoM, OBC from PCA framework is credit positive: Moody’s
  • Cotton imports to surge by 80% as output hits 9-year low: Report
  • BB&T to buy SunTrust for $28 bn in biggest US bank deal since 2009 crisis
  • Gems, jewellery exports decline 8.5% in Apr-Dec 2018
  • Bajaj Electricals Q3 net jumps 73% to ₹ 64 cr

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  • Coal India to procure mining equipment worth ₹ 7,000 cr
  • CAI lowers cotton crop estimate further to 330 lakh bales
  • RBI cuts repo rate by 25 basis points, changes policy stance to neutral
  • Fortis denies violating order on sale of controlling stake to IHH Healthcare
  • Govt has the right to demand interim dividend: RBI Governor
  • MRF Q3 profit skids 18% to ₹279 crore
  • RBI doubles limit, banks to treat ₹2 crore and more as bulk deposits
  • ICICI Bank-Videocon loan case: RBI says law will take its own course
  • RBI permits cos participating in insolvency process to tap ECB route
  • Govt to set up unified authority for regulating financial services in IFSCs
  • Debt ETF may have G-Secs in portfolio

Morning Business News Round Up_Feb 07, 2019

Morning Business News :

  • RBI board meeting deferred to February 18
  • New broadcasting regime to cut tariff by 15%: Trai
  • Dalmia-OCL announces its first overseas acquisition
  • Trump seeks to expand power to impose reciprocal tariffs
  • Essel open to selling over 50% stake in ZEEL
  • Banks need Rs 20L cr deposits for loan growth: Report
  • Lupin reports Rs 152 crore Q3 loss; sales rise 12%
  • PNB aims to recover Rs 10,000 crore from bad loans in March quarter
  • Cabinet approves amendments to bill to check unregulated deposit schemes
  • 673,000 unsold homes hold the key to India’s next shadow-banking crisis
  • Sebi, exchanges in a huddle after sharp slide in stock prices of companies
  • Siemens posts 19.7% rise in Oct-Dec quarter at Rs 228 cr on higher revenues
  • Greater efforts will be needed to reduce fiscal deficit: IMF
  • GAIL cancels ₹166-cr contract with IL&FS
  • BSE commences commodity derivatives trading in and Guargum

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  • Steel firms meet government officials to seek rise in import duty: sources
  • Huge potential exists in India-Africa trade: Commerce secretary
  • US banks win $21 billion Trump tax windfall then cut staff, loaned less
  • Fitch places Tata Motors on ‘rating watch negative’ over Brexit risks for JLR
  • RBI changes release time of monetary policy statement
  • Muthoot Finance Q3 net profit flat at Rs 485 crore
  • Trai slams CRISIL on new cable, DTH tariff regime
  • Adani Power loss narrows 10% to Rs 1,181 crore in Q3
  • Essar Steel operational creditor moves SC against NCLAT order
  • Coal India dispatches fall for second straight month in January
  • Cipla Q3 net dips 20 per cent to Rs 322 crore
  • Vodafone Idea posts Rs 5,005-crore loss
  • Adani Ports consolidated net up 42 per cent
  • Essel open to selling over 50 per cent stake

Morning Business News Round Up_Feb 06, 2019

Morning Business News :

  • 5L cr stressed corp loans yet to be tagged as NPAs
  • RBI slaps penalties on Axis, UCO and Syndicate Bank
  • Zee, IL&FS exemplify poor corporate governance’
  • India among nations to benefit from US-China trade war
  • ED okays restoration of Mallya’s properties to banks
  • Govt expects Rs 69,000 cr dividend from RBI in FY20
  • Fitch puts ratings of Jaguar Land Rover under review citing Brexit
  • Realty, construction, power may spell more trouble to banks: India Ratings
  • Centre hopes to mop up Rs 4.4 trillion from cess and surcharges in FY20
  • Fraud-hit PNB bounces back into black with Rs 246-crore profit in Q3
  • Irdai permits testing of products under regulatory sandbox approach
  • Moody’s downgrades Bharti Airtel rating to Ba1 over cash-flow situation

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  • LIC, JNPT submits bid for buying iconic Air India tower in Mumbai
  • India-US commercial dialogue, CEO Forum to be held on Feb 14
  • Exports will touch record high of $325 b this fiscal: Wadhawan
  • Jubilant seeks royalty for brand use by group cos
  • Tata Global Beverages’ profit down by 35% per cent in Q3
  • Hit by falling crude prices, HPCL reports 87% fall in net profit to₹247.5 crore
  • Banks may see fresh NPAs of up to ₹2 trillion over next one year
  • IDFC First Bank posts net loss of ₹1,538 cr in Dec quarter
  • Ericsson moves contempt plea against RCom in apex court
  • PMO holds meeting to speed up strategic sale of PSUs
  • Tata Chemicals Q3 profit declines 71% to₹219.48 crore
  • CCI approves PFC’s acquisition of 52% stake in REC
  • Sebi comes out with rules to review performance of public interest directors
  • Vijay Mallya prepares for lengthy appeal against UK govt’s extradition order
  • US-China tariff hike would trigger downturn, trade diversion: UN
  • GAIL reports 14.35% sequential decline in Q3 net at Rs 1,681.23 crore
  • NTPC inks Rs 2,500 cr loan pact with HDFC Bank
  • Consultations begin on drafting e-comm policy
  • Ericsson asked to file objection by Friday
  • Governance standards improving in corporate India
  • Vedanta Resources rating downgraded to Negative
  • No incidents of security breach reported, says SBI chief

Morning Business News Round Up_Feb 05, 2019

Morning Business News :

  • SBI, other performing PSBs may see stake sale
  • CERC pushes for 100% power sale in spot market
  • IDBI may now become LIC IDBI Bank or LIC Bank
  • TDSAT exempts RCom from one-time spectrum charge
  • India’s exports to surpass USD 314 bn peak this year
  • Tata’s plea to bid for Bhushan Steel struck down
  • RCom goes to NCLT to speed up Jio deal, hopes move will expedite DoT nod

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  • Fugitive tycoon Vijay Mallya’s extradition to India approved by UK minister
  • Zee group’s Subhash Chandra gives personal guarantee to mutual funds
  • NCLAT asks govt for list of IL&FS firms categorised by financial position
  • Setback for Tata Steel as NCLAT upholds creditors decision on Bhushan Power
  • Sugar mills want Centre to hike ex-mill price to help clear arrears
  • Fiscal deficit for April-December at 112% of FY19 Budget Estimate
  • Govt to begin process to monetise assets of CPSEs from April
  • Anti-dumping duty imposed on ‘fluoroelastomers’ from China
  • JSW Steel’s bid for Bhushan Power upheld
  • SRF posts a 26% jump in consolidated net
  • ONGC Videsh looks to pare stake in one of its costliest acquisitions
  • RBI to announce policy before noon on 7 February
  • Ruia, Essar Steel directors move NCLT to squash Mittal’s bid
  • UPL open to buy back TPG Cap, ADIA  stakes in Arysta
  • Amfi’s MF campaign may turn focus on debt funds: Nimesh Shah
  • IndoStar to buy IIFL’s CV financing business
  • Rating agencies downgrade various loan facilities of DHFL
  • Jet Airways debt resolution plan outline is ready
  • Aditya Birla Fashion Q3 net up 100% to Rs 70 crore
  • TPG Growth set to invest $30 million in Solara Active
  • Coal India approves share owner buyback worth Rs 1,050 crore
  • Governance standards improving in corporate India
  • Essel promoters sell shares worth over Rs 1,050 cr in 6 firms
  • Tribunal sets Feb 11 deadline to decide on Arcelor-Essar bid
  • Vedanta Resources rating downgraded to Negative
  • FPIs pull out Rs 5,300 cr from capital markets in Jan

Morning Business News Round Up_Feb 04, 2019

Morning Business News :

  • Sebi cracks the whip against Zee
  • Oil PSU capex drops to 4-yr low for 2019-20
  • DHFL mess may trigger second wave of risk aversion in debt funds
  • RBI MPC may change policy stance to neutral: Experts
  • FM Piyush Goyal to address RBI board on Feb 9
  • 35 CPSEs lined up for sale, DIPAM expediting process
  • RCom lays out debt resolution plan
  • Naresh Goyal to infuse around Rs 250 crore into debt-ridden Jet Airways
  • Govt proposes national gold spot exchange, seeks to organise trade
  • IndusInd Bank plans to foray into MF, insurance, stock-broking segments
  • Tata Tele offers to surrender spectrum without auction, awaits merger
  • Blackstone to infuse Rs 800-crore fresh equity in Aadhar Housing Finance

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  • Oil PSU capex drops to 4-year low for 2019-20
  • Construction equipment sector growth slows down to 10 per cent
  • Debt exchange-traded fund to be launched next fiscal
  • Difficult for govt to maintain 3.4% fiscal deficit in FY’20: Moody’s
  • HSIL records ₹25.5 cr net profit in Q3
  • Essel Group lenders give time till Sepember 30 for debt resolution
  • Rising revenue trend prompts govt to peg 18% rise in FY20 GST collections: Secy
  • OMCs seek waiver extension for Iran oil
  • ONGC Videsh Limited to stay the course in crisis-hit Venezuela
  • Jindal Steel reports narrower quarterly loss
  • Evaluating changes in FDI rules to avoid ‘unintended consequences’: Amazon
  • 25% of network integration complete across India: Vodafone-Idea
  • Timeline for LIC to reduce stake in IDBI Bank depends on business model: IRDAI
  • Investment in 17 entities under shipping ministry hiked to Rs 5,778 cr for FY 2020
  • As Anil Ambani’s RCom files for insolvency, DoT likely to take a hit
  • FPIs pull out Rs 5,300 cr from capital markets in Jan
  • Digitization of MSME to become a $10 billion market
  • Chanda Kochhar may have to forfeit Padma Bhushan
  • Fiscal deficit deviation is not worthy of notice: Garg