Morning Business News Round Up_Aug 27, 2019

Morning Business News :

  • RBI accepts Jalan panel report, approves Rs 1.76 lakh crore surplus transfer to govt
  • India offers 7 oil, gas blocks for bidding under OALP-IV
  • India to import more from US after solving differences
  • No impact of US-China trade war on India: CEA
  • Maruti view at CNG to fill space vacated by diesel cars
  • Last date to file GST annual returns extended
  • Govt to soon consider relaxing FDI norms in single brand, digital media
  • EPFO to launch e-inspection system for companies to simplify process
  • Bank of Baroda wants to buy Rs 6000 cr of securitised NBFC loans in Q2
  • ED probes new IL&FS Financial Services investment in Chennai Super Kings
  • Apple’s $44 billion valuation drop shows growing cost of reliance on China
  • Tata, Adani, Essar file bids to build captive berths at Paradip port
  • 5% duty mooted on Malaysian palm oil imports
  • Jet crisis: Lenders extend deadline for EoIs to August 31

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  • Lupin’s South African arm inks pact with Creso Pharma
  • L&T bags ‘significant’ order from NTPC
  • Titagarh Wagons to move out from French arm Arbel Fauvet Rail
  • BPCL to invest up to Rs1,700 crore in building floating LNG terminal in AP
  • RBI employees for consensus on Jalan panel report
  • PE investments, exits in auto parts sector dry up
  • OMCs not to resume fuel supply to Air India without written commitment
  • India to import more from US, commerce ministers to talk to reduce trade deficit
  • India biggest potential thermal coal market for Australia, says report
  • India’s GDP to grow at 6 per cent in April-June, says Ficci report
  • NCDRC directs Unitech to refund over Rs 1 crore to two home buyers
  • Gold hits fresh all-time high of Rs 39,670; silver soars Rs 1,450
  • Sensex soars 793 points on FPI surcharge rollback; Nifty reclaims 11,000
  • Steel consumption set for slowest growth in 3 years

Morning Business News Round Up_Aug 26, 2019

Morning Business News :

  • Considering to relax local sourcing norms for FDI: Govt
  • Australian Minister likely to meet Gautam Adani in India
  • CVC sets up body to probe bank frauds above Rs 50 cr
  • Assets under gold ETFs jump to Rs 5K cr in FY20
  • India needs single corporate tax rate of 25%: KPMG
  • Over 75% NCD issues of NBFCs went undersubscribed
  • India calls upon nations to leverage its workforce
  • RBI board meeting on Monday to consider Bimal Jalan committee report
  • IT industry on hiring spree, adds record number of employees in Q1

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  • Peak investment cycle for Indian telecom companies is over: Analysts
  • Two-wheeler makers are exploring new ideas to keep going as sales flag
  • Drug regulator making list of dual-use APIs imported from unregistered cos
  • Stimulus package will boost growth and stabilise economy: CII
  • Bengal gets proposal for 800 MW solar power project: Minister
  • Stimulus Package : More noise, less action for Auto sector
  • Glenmark recalls 31,000 tubes of anti-fungal cream from US market
  • Investors, lenders want Gautam Thapar removed as Chairman of CG Power: Sources
  • Tata Motors’ plan to raise foreign debt off the table
  • FPI surcharge removal, stimulus measures likely to boost markets: Experts
  • Retail lending tells yet another slowdown story
  • Office real estate is defying the slowdown
  • US-UK trade deal within a year of Brexit will be tight: Boris Johnson
  • Govt’s economic measures will attract investments, boost leather exports, said CLE
  • NCLT starts insolvency proceedings against Today Homes Noida
  • Multi-sectoral, multi-dimensional policy stimulus to boost stability, growth, says CII
  • India urges nations to join hands to leverage its strong workforce
  • HDFC bank says no risks to consumption story yet
  • Seven of top-10 firms lose Rs 86,880 cr in m-cap; ITC takes biggest knock

Morning Business News Round Up_Aug 23, 2019

Morning Business News:

  • India’s consumer confidence drops in August: Report
  • Airtel fastest mobile broadband network, Jio now slowest
  • Startups with turnover up to Rs 25 cr to get the tax break
  • Gadkari eyes Rs 10L crore revenue from Bharatcraft
  • Labour code on mandatory minimum wages notified
  • CAIT seeks an extension of the last date to file GST return
  • Trump talks up the economy, talks down Fed amid mixed data
  • EPFO to allocate equity investments equally in Nifty and Sensex firms
  • Extraordinary steps needed to deal with financial sector stress: NITI V-C
  • FPI norm easing: Big bucks from cash-flush West Asia banks likely

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  • Govt files IPO document for IRCTC with Sebi plans to offload 12% stake
  • US deficit to hit $960 bn in 2019, top $1 tr in 2020: Report
  • Lupin divests its Japanese injectables business to Abu Dhabi company
  • Super-rich surcharge leaves financial sector poorer as FPIs pull out ₹6,700 cr
  • Brazil, Vietnam tighten grip over the coffee market
  • Pharma body wants certainty, predictability in the price-control mechanism
  • The stimulus to industry creates moral hazard, says CEA
  • Depositors’ law not applicable to NSEL: Bombay High Court
  • Gillette India Q4 net up 32 percent at ₹46 cr
  • Airtel has a strong balance sheet: Goldman Sachs
  • Domestic air traffic growth falls to a five-year low in January-July 2019
  • DLF denies the charge of non-disclosure of key information in QIP
  • Businesses get four months to settle pre-GST tax disputes
  • NTPC gets shareholders’ nod to raise up to Rs15,000 crore via bonds
  • India-Peru: Fifth round of Trade Negotiations held in New Delhi
  • Nepal, India review bilateral ties with special focus on connectivity, economic partnership
  • BRICS bank looks to tap into Indian Rupee offshore market
  • MCA issues clarification on firms’ merger date
  • Rupee crashes to over 8-mth low of 71.81 against USD
  • Sensex sinks 587 points; Yes Bank nosedives 14 percent
  • Gold continues the bull run, nears Rs 39,000 mark
  • India’s petrol imports in July hit highest in at least eight years

Morning Business News Round Up_Aug 22, 2019

Morning Business News:

  • Ambani’s $4-bn natural gas plan is facing a problem of plenty
  • Reserve Bank allows e-mandates on cards
  • Sebi okays Rs 1 cr reward for corporate whistleblowers
  • Data usage revenue jumps to 54,671 crores in 2018: Trai
  • China slowdown to hit banks in the Asian market: Fitch
  • Changes in STT on Options from September 1
  • EPFO appoints UTI AMC, SBI MF as fund managers
  • From simplified KYC process to re-categorization, Sebi eases norms for FPIs
  • Need to examine issues on 35% minimum public shareholding plan: Sebi chief
  • Sebi mandates full disclosure on loan defaults with rating agencies
  • Rupee can depreciate another 4% against the USD by 2019-end

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  • Regulatory worries, price erosion may pull down Dr. Reddy’s US revenues
  • Centre to amend MMDR Act to expedite coal exploration
  • Nippon Life Insurance increases stake in RNAM to 54%
  • Centre keeps cancellation of NMDC’s Donimalai mining lease in abeyance
  • Zydus Cadila gets USFDA nod to market generic chronic angina drug
  • Supreme Court issues notice to DLF, SEBI on non-disclosure of key information in QIP
  • Fixing weak growth is the highest priority: RBI MPC minutes
  • Sebi eases rules for ‘muni bonds’ to help smart cities raise funds
  • JPMorgan is shutting down its Chase Pay app
  • INX Media case: P. Chidambaram to be produced in court, will plead for bail
  • Sebi reverses previous decision prohibiting debt MFs to invest in unlisted NCDs
  • Not in a race to pick stake in Coffee Day Enterprises: ITC
  • RTGS system for customer transactions to open at 7 am from August 26: RBI
  • Sebi will look into details gathered on CG Power, says Ajai Tyagi
  • The second leg of ideation exercise for PSU banks to begin from Thursday
  • Rupee recovers 16 paise to close at 71.55 a dollar
  • Gold hits a new high of Rs 38,820; silver jumps Rs 1,140
  • India Inc reports lower revenue, profit growth in Q1: Report
  • Sensex tumbles 268 points; Tata Motors tanks 9 percent
  • SBI plans to establish nearly 10 lakh YONO Cash Points

Morning Business News Round Up_Aug 21, 2019

Morning Business News:

  • Sebi board mulls tighter checks on rating agencies
  • Sebi to consider easier rules for buybacks, reward for informants
  • NCLAT refuses relief to Deloitte, BSR Associates
  • COAI urges cut in USO fee to 3%, license fee to 4%
  • Govt allows airlines to use Jet slots till end Dec
  • NCLT admits Insolvency resolution plea against HDIL
  • Economists estimate GDP growth of 5.5-5.6% in Q1 FY20 amid a slowdown
  • Bharti Airtel may not buy 5G spectrum and ‘expensive’ 700 MHz airwaves
  • IL&FS board seeks NCLT nod to sell wind assets to Orix Corp for Rs 4,800 cr
  • Karnataka govt cancels NMDC lease for Donimalai mine, opts for auction

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  • EY sets 18-month timeline for a merger of three insurance companies
  • CG Power reports huge financial fraud
  • Dr. Reddy’s gets 8 observations from USFDA for its Duvvada facility
  • Emami Agrotech plans Rs 700-cr cap-ex over next 12 months
  • Floods, landslides lay waste areca plantations on 1,900 acres
  • IndiGrid eyes power transmission assets worth Rs 8,000 cr
  • Govt cancels coal block jointly allocated to NTPC, JKSPDC
  • Compliance culture of Indian banks unsatisfactory: RBI deputy governor
  • Apple to pump in $6 billion to compete with Amazon, Netflix
  • TCS surpasses RIL to reclaim most valued firm by market capitalization
  • Lenders may be forced to convert Rs 4,00,000 crore of their DHFL debt into equity: Union Bank
  • Jaiprakash Associates to appeal against CCI order
  • GAIL to invest Rs 45,000 crore in expansion of pipelines, city gas network
  • Rupee hits a fresh 6-month low of 71.71; dives 28 paise
  • Gold touches a fresh all-time high of Rs 38,770 on jewelers’ buying
  • Crude oil futures up on positive cues
  • Hyundai to put in Rs 7,000 crore

Morning Business News Round Up_Aug 20, 2019

Morning Business News:

  • Indian Oil Corporation to invest Rs 25,000 cr in green energy
  • Agri, rural labor CPI base year to be revised
  • Sebi brings in stricter norms on disclosure lapses
  • FM says corporate tax for companies to be cut gradually
  • SC gives DoT a boost in RCom one time spectrum fee case
  • NTPC plans 5,000-MW ultra-mega solar plant in Kutch
  • DHFL defaults on Rs 1,571 crore bond payments
  • FinMin considers stress fund for infra sectors: Urban Affairs Secretary
  • Voda Idea, Airtel lose over 4 mn users in June; Jio and BSNL gain: Trai
  • Credit rating agencies, auditors on ED radar in the IL&FS charge sheet
  • Govt removes debenture reserve requirement for HFCs, NBFCs, listed firms

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  • Adani Group likely to acquire 72% stake in Andhra’s Krishnapatnam Port
  • Import of 30,000 tonnes of crude soya oil from Paraguay notified
  • KEC bags Rs 845-cr orders from NCRTC, Kochi Metro
  • PTC inks pact for 720 MW Mangdechhu plant in Bhutan
  • Minor landslide affects MRPL’s operations
  • Morgan Stanley re-rates Reliance Ind stock to ‘over-weight’, post-AGM moves
  • CCI puts in place green channel route for M&A approvals
  • RIL’s Aramco deal to lower its FY21 earning by 9%: report
  • US economists expect a recession in the next 2 years
  • Govt may consider amendments in RERA to make it more effective: Govt official
  • DHFL parent WGC sells its loan distribution biz to Metdist Group
  • Foodgrains production almost flat at 284.95 MT in 2018-19, says Government data
  • RIL again becomes the most valued firm by market valuation
  • China lost 20 lakhs jobs in short period of time, says US President Donald Trump
  • Coal ministry panel approves fuel supply to Tamil Nadu power plants
  • Rupee plunges to over 6-month low of 71.43; skids 29 paise
  • Passenger vehicle retail sales fall 11 pc in July: FADA
  • Time has come for banks to link loans, deposits to repo rate: RBI Gov Das
  • PE-VC investment in India zooms to an all-time high of USD 8.3 bn in July: Report

Morning Business News Round Up_Aug 19, 2019

Morning Business News:

  • The US, China seeking to revive trade talks: Trump’s advisor
  • Brexit minister signs order to end EU laws in Britain
  • Credit demand subdued, the economy needs stimulus: SBI
  • Govt to clarify on FDI policy on digital media
  • Govt increases oil, gas bidding round to 3 times a yr
  • Scraps may help India’s carmakers beat the slump
  • BOI hoping to recover around Rs 2,500 crore: Official
  • More than 4 lakh unsold apartments in 9 cites, estimates brokerage firm
  • Govt plans debt waiver for small distressed borrowers under insolvency law
  • Moglix to set up industrial distribution centers in 25 major hubs of India
  • M&M lays off 1,500 temporary workers, seeks govt stimulus for industry

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  • Maruti seeks GST benefit for hybrid, CNG cars to promote green mobility
  • Ministry keeps new CSR amendments on hold
  • Economic ties between India and China will continue to grow, finds CII survey
  • Coffee Day Enterprises debt at Rs 4,970 crore
  • Cipla shareholders approve raising up to Rs 3,000 crore
  • CBI raids Moser Baer office, directors’ premises
  • Kharif sowing improves on widespread rain
  • Traders body calls for the boycott of Chinese goods, seeks up to 500% import duty
  • ‘NBFCs will get recapitalized, banks will get more prudent with lending’
  • SBI extends the repayment period for stressed automobile dealers by 15-30 days
  • Confident of coming out of RBI’s PCA framework by March next year: UCO Bank CMD
  • Power gencos’ outstanding dues from discoms rise by 30% to ₹46k crore in June
  • SBI expects 12-14% credit growth this fiscal, says Chairman Rajnish Kumar
  • Tech Mahindra divests 73.38% stake in subsidiary to US-based Resolve Systems for $2 million
  • Government sets up committee to rationalize additional taxes on Air Turbine Fuel
  • India’s holding of US govt securities jumps to USD 162.7 bln
  • FPIs pull out Rs 8,319 cr in Aug amid persisting negative sentiment
  • NCLAT spikes banks’ plea against MBL resolution
  • Nine of top-10 firms lose Rs 84,354 cr in market valuation

Morning Business News Round Up_Aug 16, 2019

Morning Business News:

  • US 30-year yields drop to a fresh record low below 2%
  • RBI’s dollar purchases at four month-low in June
  • Hong Kong unveils $2.4-bn economic support package
  • WTO to rule on India sugar export subsidies
  • ONGC investing Rs 83,000 cr in 25 project
  • WTO quarterly trade growth indicator drops from May
  • Reliance Industries may buy more cable companies to aid JioFiber plans
  • Life insurers register 6% growth in new premium income in July: Irdai
  • Reliance Capital Q1 profit sees a 4-fold jump to Rs 1,218 cr on higher income
  • Removing angel tax notices will help start-ups in growth: Experts
  • Oil falls 3% to below $58 a barrel as recession worries weigh on prices
  • India’s seafood exports to EU to be hit after Vietnam-EU free trade pact

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  • SEZ Board puts off decision on GAIL’s exit from Kerala project; wants dues recovered
  • Saudi Arabia back as India’s top oil supplier after Reliance deal
  • Marico to complete the acquisition of Beardo by this fiscal-end
  • Axis Bank ex-chief Dharmesh Mehta and investors buy IDFC Securities
  • Air India puts more than 60 real estate assets under the hammer
  • Key committees in IL&FS did not meet for years, reveals RBI probe
  • Five investors bought nearly two-thirds of the QIP offering in Yes Bank
  • COAI urges Trai to create consumer awareness on a new framework for pesky calls
  • Protest-hit Hong Kong unveils $2.4-billion economic support package
  • NCLAT upholds insolvency proceedings against Sahara Q Shop
  • IFFCO cuts complex fertilizers rate by Rs 50 per bag; DAP to cost Rs 1,250/bag now
  • IDBI Bank net loss widens to Rs 3,800 crore as provisions weigh
  • Inflation slows as the economy falters
  • Yield inversion coming to Asia as growth woes spread
  • Tata Motors to shut Jamshedpur plant for the third time this month
  • Passenger vehicle output down 13.18 pc in Apr-Jul as major cos cut production

Morning Business News Round Up_Aug 14, 2019

Morning Business News:

  • US delays tariffs on some Chinese goods drops others
  • Govt working on a package to check economic slowdown
  • Govt notifies partial credit guarantee scheme for PSBs
  • Retail inflation remains benign at 3.15% in July
  • MCA panel moots CSR expenditure as tax-deductible
  • HPCL finally recognizes ONGC as its promoter
  • RBI to review rules governing housing finance cos
  • Govt issues guidelines for Rs 1 trillion partial guarantee scheme for NBFCs
  • Consumption-driven growth behind ‘serious slowdown’, warns SBI MF
  • Slide-in iron ore prices to hurt exports from India, further slump seen
  • GAIL in two minds over govt’s plan to split gas pipeline business
  • Coal India net profit rises 22.28% to Rs 4,629.87 cr in June quarter

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  • Apollo Hospitals profit jumps 69 percent to Rs 57 cr in Q1
  • Cement makers’ body, SCCL hold talks on increasing coal offtake
  • WTO likely to set up a panel to decide on India’s sugar sops
  • RCAP in talks to sell 11 percent stake in mutual fund unit
  • NMDC Q1 profit up 21% at₹1,179 crore
  • IOCL to invest Rs 2 lakh-cr in next 5-7 years
  • Invesco Oppenheimer reiterates commitment to Zee stake deal
  • BSE to launch a liquidity enhancement plan in equity derivative segment
  • ONGC Q1 net profit dips 3.9% on lower oil price, production
  • Tata Capital Fin expects 20% growth despite the stress in NBFCs
  • EPFO looking for early redemption of DHFL bonds worth ₹700 crore
  • ADB signs pact to invest $23 million in NCD of GRIL
  • India, Russia to boost ties to achieve $30 billion bilateral trade by 2025
  • Banks report fall in NPA levels; seek steps to address stress in NBFCs: Survey
  • Singapore slashes 2019 economic growth forecast stoking recession fears
  • Rupee hits a 6-mth low of 71.40 against USD; dives 62 paise on global turmoil
  • Amazon in advanced talks to buy 8-10 percent stake in Future Retail
  • Sensex plummets 624 points on global sell-off; RIL soars 10 pc
  • Govt-constituted panel suggests making CSR non-compliance civil offense

Morning Business News Round Up_Aug 13, 2019

Morning Business News:

  • Reliance, BP joint venture to invest in KG basin
  • Etihad says not feasible to reinvest in Jet Airways
  • Fullerton India Credit aims to raise $250-300 million via offshore loan
  • Sun Pharma’s Q1 nos: One-off boost likely from US supplies
  • IBM, Tata join US tech platform’s governing council
  • New U.S. rule could disqualify half of the visa applicants
  • Syndicate Bank expects Rs 4,000 cr from NPA recovery
  • Saudi Aramco interest in Reliance Industries upstages PSU mega refinery
  • Anil Agarwal pulls out of the race for acquiring grounded Jet Airways
  • Reliance Jio ties up with Microsoft for digital transformation
  • India’s steel output edges past world in H1 of CY2019 lags China
  • Govt set to dilute 3.5-year-old air pollution norms for thermal plants

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  • CARE Rating revises the outlook on 11 solar firms to negative
  • Coastal shippers demand more facilities at ports
  • HIL posts lower Q1 profit of Rs 40 cr
  • Visaka Industries profit slips to Rs 23 crore in Q1
  • Cox & Kings unable to declare Q1 results
  • Eros International Q1 net falls 55% to ₹27.05-cr
  • CCI slaps Rs14 crore fine on Jaiprakash Associates
  • Tech Mahindra to pay 490 crores for 65% stake in Mad*Pow
  • CBS, Viacom in final stages of an all-stock merger
  • Natco gets six USFDA observations for its Mekaguda plant
  • Jaguar Land Rover sales increase 5% in July at 37,945 units
  • Economic slowdown: Govt plans urgent steps to boost exports
  • SME-focused Ugro Capital eyes over Rs 1,000 crore loan book
  • China promises to address India’s concern over the ballooning trade deficit
  • GSP roll-back: Exports of goods to the US grew 32% in June
  • Gold imports up 35.5 percent during Apr-Jun
  • Syndicate Bank expects Rs 4,000 cr from NPA recovery in FY20
  • Reliance to be zero-net debt company in 18 months: Ambani
  • Reliance Retail may get the global partner