Morning Business News Round Up_Jan 01, 2019

Morning Business News :

  • NBFCs balance sheet grew 17.2% as of Sep 2018: RBI
  • Core sector growth hits 16-month low in November
  • Not seeking RBI surplus to meet fiscal deficit: FM
  • India’s external debt dips 3.6% to $510 bn in Sept
  • HDFC raises lending rates by 0.1 per cent
  • Axis Bank MD & CEO Shikha Sharma retires
  • Banks’ exposure to financial system at 46.5%: RBI
  • RBI report calls for fine-tuning institution scanning after IL&FS crisis
  • India exempts rupee payments for Iran oil imports from hefty taxes: Report
  • Core sector growth hits 16-month low at 3.5% in Nov due to oil, fertilisers
  • Lupin plans expansion, eyes Europe growth via acquisitions and launches
  • BHEL bags Rs 3,500 crore order for setting up West Bengal thermal unit
  • ₹75-lakh threshold could help over 60 lakh MSMEs escape GST net
  • Bearish sentiment weighed on PV segment in second half
  • Employees of bankrupt RTIL join hands to revive company
  • Toyota Kirloskar Motor sales up 10% in Dec
  • Domestic steel consumption to grow by 7% this fiscal, FY20: ICRA
  • Tyre sector may grow 7-9% in 5yrs buoyed by demand,lower crude
  • Government infuses Rs 10,882 crore capital in four PSU banks

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  • IL&FS puts commercial, residential properties up for sale
  • Kotak misses deadline to cut stake
  • RCom, Reliance Jio extend validity of asset sale pact to 28 June
  • PPF regains the crown with the best returns
  • Lok Sabha passes Indian Medical Council (Amendment) Bill, 2018
  • Government extends import restrictions on peas till March 31
  • Hyderabad HC sets aside ED order attaching Tech Mahindra’s Rs 822 cr fixed deposits
  • Insurance industry goes on tech drive to expand coverage
  • Govt seen going full throttle on labour reforms
  • New NHAI norms may slow down project awards
  • Govt proposes to invest Rs 1,227 cr through EDF
  • Provision coverage ratio of PSBs on rise, crosses 66%

Morning Business News Round Up_ Dec 31, 2018

Morning Business News :

  • Banks recover Rs 40,400 crore from defaulters: RBI
  • Reliance, BP get key ship on KG-D6 for gas output
  • Make enough financial allocations for farmers: Par Panel
  • Provision coverage ratio of PSU banks on the rise
  • 26 firms evince interest in special audit of telcos
  • Sebi plans to strengthen market surveillance system, data warehouse tool
  • Govt working on bringing untaxed sectors under tax net: Revenue Secy
  • Rs 3-trn NPA risk averted by completing highway projects in 2018: Gadkari
  • Jet Airways in talks with SBI for Rs 15 billion short-term loan: Report

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  • Cipla recalls 4,800 bottles of anti-HIV tablets from American market
  • MSTC mulls 10% fresh equity issue after govt plan to dilute 25% stake
  • India’s robust GDP growth to continue in 2019, says CII report
  • NTPC to set up 50-MW LNG project in Andaman
  • Committee to monitor DFI implementation soon
  • Govt seen going full throttle on labour reforms in 2019
  • Air India, Jet Airways see dip in domestic market share
  • Emerging markets seen bringing more pain to investors in 2019
  • Theresa May sets mid-January date for Brexit vote
  • Sebi expands OFS framework to all firms with Rs1,000 crore and above m-cap
  • RBI extends enhanced single borrower limit facility till March
  • RBI exploring mobile phone-based solution to help visually impaired identify banknotes
  • Niti Aayog’s new year focus: Pushing growth, implementation of govt’s reform measures
  • Petrol price cut to its lowest level in 2018, diesel rates at 9-month low
  • Govt proposes to invest Rs 1,227 cr through EDF
  • New NHAI norms may slow down project awards
  • Debt Waiver May Slow State Capex Growth
  • Re-audit of telcos’ books to begin in jan

Morning Business News Round Up_ Dec 24, 2018

  • Huawei faces new setbacks in Europe’s telecom market
  • Tata Motors assures UK PM May of JLR commitment
  • China mulls new foreign investment law
  • GST to consider 5% GST on under-construction homes
  • Govt moots Rs 7,400 crore soft loan to sugar mills
  • ONGC board thinks not the right time to list OVL
  • Himachal Futuristic Communications wins L&T contract
  • Increase e-Visa validity to 10 years to boost tourism: NITI Aayog
  • FinMin’s Alternative Mechanism gives nod for BoB, Dena, Vijaya Bank merger
  • Shriram Transport to M&M Finance, volume dip deflates vehicle financiers
  • IFC to back Lighthouse’s SPV to acquire stake in footwear firm Aqualite Ind
  • MNC drug majors outshine Indian peers, draw investors’ attention
  • GST Council’s announcements bring comfort: Industry bodies
  • Maruti scouting for land in Haryana only to shift Gurgaon plant
  • IT Alliance Australia plans to bring ₹600 cr FDI in 7 years
  • NCLAT stays insolvency proceedings against Eastern Coalfields
  • 10 Indian startups selected for Google News Initiative funding
  • India Inc raises Rs 6 trillion from equity, debt markets in 2018
  • Avoid cap on remuneration of independent directors: CII to govt
  • Partial US government shutdown set to last through Christmas
  • Pass on GST rate cuts or face withdrawal of benefits: Jaitley to businesses
  • Petroleum products should be under GST, says Industry body
  • Oil market likely to rebalance early 2019: OPEC ministers
  • NMDC moved HC after exhausting all options in Karnataka: CMD Hyderabad
  • Need to open up India’s dredging market to boost ports trade: NITI
  • Public credit registry to become reality soon
  • FPIs infuse Rs 1,332 crore in equity in three weeks
  • MCA wing speeds up fraud detection
  • SBI may raise Rs 12,000 cr overseas for PFC’s REC buy

Morning Business News Round Up_ Dec 21, 2018

  • Farmers get $9bn loan relief ahead of elections
  • Bank credit grows by 15.07%, deposits by 9.66%
  • PSBs recover $8.69 bn of bad loans in April-Sept
  • RBI limits total outstanding ECBs to 6.5% of GDP
  • IL&FS to sell stake in education, wealth mgmt arms
  • Govt to put draft ecomm policy up for consultation
  • PowerGrid gets shareholders’ nod to raise FPI shareholding limit to 35%
  • ONGC board approves Rs 40 billion buyback at Rs 159 apiece; shares end flat
  • Govt wants Rs 100 bn interim dividend from RBI for fiscal deficit target
  • Defaults on credit cards, loan against properties on the rise, says CIBIL
  • Sterlite likely to restart Tamil Nadu’s Thoothukudi unit in two months
  • NITI Aayog’s recommendation on agri sector tough to implement: Experts
  • NCLAT reserves order on Bhushan Power and Steel
  • ‘RBI must release a vision document for UCBs to thrive’
  • CBDT to tighten monitoring of donations to trusts
  • Steel companies staying off Karnataka’s ‘overpriced’ ore
  • Gold, jewellery exports to post up to 5% growth this year
  • Govt announces tax relief to startups
  • Airtel sets up special panel to explore fundraising options
  • RCom urges DoT to grant approval for spectrum deal
  • Swiggy raises $1 billion in largest funding round till date
  • Canara Bank to raise up to ₹3,000 crore via Basel-III compliant bonds
  • RBI Governor Shaktikanta Das to meet private sector lenders next week
  • Bank of India eyes Rs 1200-cr from exiting life insurance arm Star Union
  • India’s crude steel output falls by 1.3 pct in November
  • Government taking steps to implement methanol economy
  • Tata Motors, Zoomcar join hands for self-drive EV rentals in Pune
  • Rupee rallies 69 paise, settles below 70-mark
  • BSNL to raise Rs 12,000 crore from PSBs for network upkeep
  • Brokers question 100% penalty on ‘bogus’ dealings
  • Energy subsidies decline by 36% to Rs 1.51 lakh crore
  • 3 banks’ merger unlikely before 1st quarter of FY20

Morning Business News Round Up_ Dec 20, 2018

  • Govt to seek interim dividend from RBI: Subhash Garg
  • RIL seeks clarification on DoT rejection of Rcom deal
  • Maruti may stop producing BS-IV models by Dec 2019
  • Shell to acquire 49% stake in Cleantech Solar
  • Additional capital infusion likely in PSU banks: Garg
  • India, Iran find a way to get around US curbs
  • High cost of banking services hindering financial inclusion: NITI
  • IDFC First to hinge on branch expansion, ‘retailization’ and integration
  • Parliament panel questions approval for RIL’s gas fields in KG-D6
  • Sliding oil prices, RBI’s open market operations buy propel Rupee, bond
  • Madras HC stays I-T demand notices on Aircel, Dishnet Wireless
  • GST on financial inclusion services by BCs likely to come under review
  • Loan waiver won’t root out farm distress, says NITI Aayog chief
  • CBI arrests eight officials of PNB in fraudulent LoU case
  • Glenmark forays into branded dermatology segment in US
  • Vivriti Capital secures ₹200 cr from Creation Investments
  • Market slowdown prompts Maruti to trim sales forecast
  • RBI’s monetary policy committee cautious on inflation: Minutes
  • GSK to split after folding in Pfizer consumer unit
  • DGCA monitoring Jet Airways’ financial health, safety issues
  • Canara Bank to raise up to ₹3,000 crore via Basel-III compliant bonds
  • Oil prices near 15-month low on signs of surplus and economic concerns
  • India to become fifth-biggest economy in 2019, says study
  • Tata Motors liable to pay tax for possession of chassis, says SC
  • Vijay Mallya intends to appeal against UK court’s extradition verdict
  • Increase India’s share in international tourist arrivals to 3 pc by 2023: NITI Aayog
  • British government to activate full ‘no-deal’ Brexit preparations
  • Srei to take the NCD route to raise Rs 300 crore
  • 25% dip in rabi sowing worrisome: Crisil
  • Staggered payments can reduce fiscal stress of states waiving farm loan
  • Fivefold rise in public grievances in 2014-2017, says govt

Today’s M & A Deals_Dec 19, 2018

M & A Deals :

  • ChrysCapital targets large corpus as it floats eighth sector-agnostic fund
  • Samana Global to float $560 mn alternative investment fund
  • PE firm AR2 Global expands India exposure with co-investment
  • Greater Pacific, KKR’s debt fund bet $40 mn on utility consultancy firm
  • Dewan Housing to sell stake in mutual fund business to JV partner
  • DataTrained gets $1.7 mn in extended seed round; ImpactGuru pockets fresh funds
  • Motilal Oswal PE-InvAscent consortium buys out Actis from Symbiotec
  • Accel, IFC and others invest in B2B marketplace Moglix’s Series C round
  • Carlyle eyes stake in SBI Life; Banks, Rakesh Jhunjhunwala bid for IL&FS Securities
  • Huawei plans $2 bn investment to allay cybersecurity fears

Morning Business News Round Up_ Dec 19, 2018

  • LIC makes open offer to acquire 26% stake in IDBI Bank
  • RBI to infuse Rs 50,000 crore in January, bonds likely to rally
  • NSE gets Sebi’s nod to launch weekly options on Nifty 50 index
  • IDFC, Capital First completes merger process to form IDFC First Bank
  • India’s sugar production up 2.1% till December 15: ISMA
  • MOPE and InvAscent buy 70% in Symbiotec for $100 m
  • Almost 45% of seller base from tier-II, III cities: Flipkart
  • India imports 42 lakh tonne of urea till November for over USD 1 billion
  • Saudi Arabia, Reliance in talks for refinery, petrochemical project: Saudi Oil Minister
  • Premium brands pitch easy finance and instalments over superior features
  • Bank notes’ printing cost rose to Rs 80 billion in FY17, says govt
  • BNP Paribas sets 2019 Sensex target at 40,000, but stays wary on earnings
  • Sebi concerned as Rs 600 bn worth of approved IPOs are yet to hit market
  • Will try to get 99% items in 18% slab or lower, says PM Narendra Modi
  • New angel tax notices spook investors, start-ups; trip fund-raising efforts
  • High growth rate in manufacturing a doable challenge, says NITI Aayog CEO
  • CSR funds worth Rs 8,314 cr remained unspent over three financial years
  • Govt likely to sell 3-5% stake in NTPC via OFS
  • IBC eliminates right to redemption of Essar Steel shareholders, says lenders
  • Tata Starbucks to open more than 25 stores across metros in 2019
  • Ashoka Buildcon plans to bid for Rs 400-crore city gas distribution projects
  • John Deere plans to boost engine capacity in India
  • Existing tech inadequate to cater to data demand by 2025, says report
  • Government permits imports of PUF panels/doors for hospitals under EPCG scheme
  • Ola to invest  $100  million  in scooter-sharing firm Vogo
  • Samana to raise Rs 4,000 crore to invest in startups, listed stocks
  • Govt orders restructuring of tax department
  • Carlyle seeks to double holding in PNB Housing Finance
  • DHFL to exit mutual fund business DHFL Pramerica
  • Agri-food startups raised $1.6 billion in 2013-17: Report
  • Online medicine startups in funding frenzy as sector consolidates

Morning Business News Round Up_ Dec 18, 2018

  • Tata Motors-owned JLR likely to cut jobs in 2019
  • Mallya faces bankruptcy proceedings in UK High Court
  • Sebi lays down more robust risk management framework for equity derivatives
  • IOC has enough headroom to absorb buyback, dividend payout: Fitch
  • Ecomm policy review may focus on discounts: Prabhu
  • Free pharma samples come under GST lens
  • Wadia case: Court issues notices to Tata, others
  • Government meddling in RBI affairs may hit Indian banking system: S&P
  • Govt confident of crossing disinvestment target, hopes to garner Rs 850 bn
  • Cabinet moves to get legal backing, allow Aadhaar for phone numbers, banks
  • Debt-laden Essar Steel invokes right to redeem as a shareholder
  • DoT plans to be ready for 5G spectrum auction by August next year
  • FSSAI to notify packaging norms soon
  • Organic food show to attract global retail chains, companies
  • Export growth to surge 7% in Q3: Exim Bank
  • IL&FS looking to sell road projects to pare debt
  • SEBI makes investing in MFs less pricey
  • D P World challenges CCI order to probe alleged anti-trust practices at JNPT
  • Govt tussle with RBI could undermine long-term financial stability, says S&P
  • ABB sells power grids to Hitachi in $11 billion deal
  • Bank of Baroda to shut three overseas branches by June
  • IHH holds Fortis open offer after SC status quo on deal
  • StanChart sells PE portfolio for $1 bn to Intermediate’s arm
  • Quikr acquires real-estate platform India Property
  • Government total liabilities rose to Rs 82.03 lakh crore in September quarter
  • Raghuram Rajan says transfer of excess reserve may pull down credit rating of RBI
  • Max India promoters decide not to convert warrants into shares
  • Kirloskar family dispute escalates as three brothers trade charges
  • IL&FS revival bid exposes more holes, alleged frauds
  • DeMo dragged economic growth down, says Rajan
  • NHAI may fall short of FY19 target by 37%
  • Foreign flows to remain muted in 2019: Credit Suisse
  • Trump asks Fed not to raise rates on eve of policy meeting
  • CIC orders disclosure of data on note printing post-demonetisation

Today’s M & A Deals_Dec 14, 2018

M & A Deals :

  • Kotak Realty Fund sets up single LP account for first affordable housing vehicle
  • Venture Catalysts invests in environmental intelligence startup Ambee
  • Matrix Partners invests more money in online services marketplace Housejoy
  • Delhi High Court ban on e-pharmacies puts $300 mn of VC money at risk
  • CPPIB scouts for strategic partners in NBFC space; eyes more education bets
  • Sensex finishes in the green as Infosys, financial stocks lead gains
  • True North may buy out Max India from insurance biz; Haldiram, others circle Maiyas
  • Environmental intelligence startup Ambee gets angel investment

Today’s M & A Deals_Dec 13, 2018

M & A Deals :

  • Tata group’s mutual fund arm is setting up a PE vertical
  • Lighthouse adds CDC as LP for latest fund, targets final close in four months
  • IPE Global-backed investment firm to launch debut impact fund
  • Neev Fund-backed Blue Planet buys organic waste processing firm Yasasu EMS
  • Cognizant acquires content firm Mustache to mark sixth buyout of 2018
  • India’s retail inflation at 17-month low in Nov; industrial output up 8.1% in Oct
  • Swift change of guard at RBI helps Sensex soar nearly 2% higher
  • Norms tweaked for listing Indian startups on stock exchanges
  • Flipkart’s wholesale arm gets $304 mn in fresh capital from parent