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

Today’s M & A Deals_Nov 01, 2018

M & A Deals :

  • How much will IFC make from partial stake sale in Polycab India’s IPO?
  • NIIF to buy IDFC’s infra fund biz in maiden control deal
  • TPG Growth leads $42 mn investment round in Ess Kay Fincorp
  • PineBridge-backed engineering component maker Uniparts revives IPO plan
  • PE firm Centana Growth Partners backs financial research platform Sentieo
  • Govt says RBI autonomy ‘essential’ amid reports that governor Urjit Patel may resign
  • Twitter India FY18 profit drops 30% as revenue falls
  • Cars24’s India revenue up 58% in FY18, losses widen marginally
  • Indifi partners with money transfer firm Eko to expand SME lending biz

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

Today’s M & A Deals_Oct 31, 2018

M & A Deals :

 

  • TPG Growth’s Asia healthcare platform seals buyout in India
  • Goldman Sachs PE unit plans to buy cattle feed firms in India
  • Columbia Asia Hospitals sells Ahmedabad unit to Zydus Hospitals
  • Japan’s Incubate Fund, others invest in e-sports startup GamingMonk
  • Govt considers outright sale of IL&FS to resolve crisis: Report
  • Government to sell up to 9% stake in Coal India
  • Will the $34-bn Red Hat buyout boost IBM’s cloud business?
  • Faasos’ cloud kitchen pivot starts to pay off as revenues rise 67% in FY18
  • E-sports startup GamingMonk gets fresh funding
  • CII ties up with WhatsApp Business app to train SMEs in customer outreach

Today’s M & A Deals_Oct 26, 2018

M & A Deals :

 

  • KKR Q3 earnings jump on gains from asset sales
  • True North-backed Home First Finance rides housing finance wave
  • IAN Fund invests in waterless personal hygiene startup Clensta
  • US-based marketing automation firm Bluecore buys retail tech startup Betaout
  • Twitter Q3 earnings top estimates as ad sales surge
  • Seed funding drops 21% in 2018; deep-tech startups booming: NASSCOM report
  • Meet the 11 fintech startups picked for the first batch of Financial Inclusion Lab
  • Paytm Payments Bank appoints former NPCI exec as MD & CEO
  • Microsoft Q1 sales, profit exceed forecasts on cloud computing growth
  • Sensex ends over 1% lower amid global selloff

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

Today’s M & A Deals_Oct 25, 2018

M & A Deals :

  • Sula Vineyards gets new investor on board; Verlinvest ups stake
  • Warburg Pincus, Soft Bank, others to invest $1.25 bn in Airtel Africa
  • Zydus Wellness gets PE backing to acquire Kraft’s India biz for $626 mn
  • Sequoia-backed Health Kart to get new investor in $10-mn capital raise
  • ITI Mutual Fund hires ICICI Prudential exec as CEO
  • Kalaari’s Sumit Jain joins Sistema Asia Fund as senior partner
  • Cyrus Mistry to make venture investments, hires BCG senior partner
  • Motilal Oswal Private Equity makes final close of third fund

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

Today’s M & A Deals_Oct 24, 2018

M & A Deals :

  • Samara-owned Oaknet buys some brands of GSK India
  • Indian PIPE, hedge funds invested like never before in April-June quarter
  • Hong Kong-based Composite Capital leads $54 mn round into ClearTax
  • Venture debt provider Intelle Grow appoints Axis Bank veteran as CEO
  • Venture debt firm Trifecta invests in bus aggregator app Shuttl
  • Sensex slips to lowest close in more than six months
  • Tokyo’s Kakaku.com leads funding round in restaurant management platform Tab Square
  • Five PE firms eye stake in Lakshmi Vilas Bank; Hero Future in talks to raise funds
  • Tax e-filing portal ClearTax bags $54 mn in fresh funding round
  • Ed-tech startup GuruQ gets pre-Series A funding

Morning Business News Round Up_ Oct 24, 2018

  • Trump threatens to impose tariffs on countries
  • Government plans to tighten rules for auditors
  • Banks’ troubles run deeper than only the NPA
  • HCL Tech Q2 profit rises 16% to Rs 2,540 crore
  • Govt looks to relax norms for setting up petrol pumps
  • CAG Mehrishi questions RBI’s accountability over NPA
  • Saudi to provide $3-bn aid to cash-strapped Pak
  • Sebi mulls standardisation for PMS schemes by setting up industry body
  • Pharma sector to post moderate 7-9% CAGR due to healthy demand
  • India signs $5 bn-worth of pacts to give impetus to iron and steel industry
  • IBBI notifies mechanism for issuing regulations under insolvency law
  • ED files fresh charge sheet in Rs 50-billion Sterling Biotech scam
  • BPCL’s Kochi Refinery starts to get crude from its subsidiary
  • NSE gets SEBI nod to launch copper large futures contract
  • IRB InvIT distributes ₹3/unit; net drops 45% in Q2 to ₹37.4 cr
  • Slack demand drags coconut oil prices down by 15%
  • Bayer CropScience Q2 profit falls to ₹142 crore
  • Bajaj Corp Q2 profit up 1.85% at Rs 51.6 cr
  • NBFCs face big test as Rs 1.2 lakh crore repayment comes due
  • RBI lifts ban on Fino Payments Bank to open new accounts
  • Ford posts a profit in India, 20 years after driving in
  • BoB, Vijaya Bank, Dena bosses to meet on Wednesday over merger
  • Tata Steel objects to JSW Steel’s ‘final’ bid for Bhushan Power
  • India’s economic growth not inclusive enough, inequality rises
  • Cipla’s arm completes acquisition of South Africa’s Mirren
  • IndiGo, SpiceJet, Jet Airways face credit rating revisions as costs spiral
  • RBI Board meet: Finmin may raise need to relax PCA framework
  • REC eyes $5b via mid-term notes on GSM
  • India’s internet services can grow to $124 b by 2022: Study
  • 38 MoUs signed to save nearly Rs 40K cr capital goods import
  • FinMin proposes slew of measures to improve liquidity