Morning Business News Round Up_May 23, 2019

Morning Business News:  

  • FinMin starts meeting with industry bodies for budget
  • Over 80% Indian firms plan divestment in next 2 yrs: EY
  • BoB reports surprise Q4 loss of Rs 991 crore
  • British Steel collapses, costing thousands of jobs
  • Joint bid for Jet innovative but complicated: Experts
  • Jaypee Infratech lenders start negotiations on NBCC’s bid as per NCLAT order
  • Government plans Rs 1,000-crore fund for startups in priority areas
  • M&A deals in April see 96 % decline to $735 million: Report
  • India’s economic growth set to gain pace despite US-China trade conflict

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  • I-T dept set to bring changes in tax audit report for charitable trusts
  • IL&FS crisis may lead to consolidation in NBFC sector: Fitch Ratings
  • Sebi floats discussion paper to plug gaps in buyback regulations
  • Govt to sell 100% stake in Kamarajar Port to Chennai Port for over Rs 4k cr
  • NSE co-location scam: CBI to go after the high and mighty
  • Bajaj Electricals Q4 net jumps two fold to Rs 28.54 cr
  • NMDC iron ore output jumps 20% to 2.90 MT
  • DLF’s Q4 net profit surges to ₹435 crore
  • JSPL reports ₹1,154-cr Q4 loss
  • SAT stays SEBI disgorgement order against NSE
  • Ramco Cements’ Q4 net rises 51% on better prices
  • Sebi, bourses step up surveillance measures for markets on election results day
  • JK Lakshmi Cement Q4 net up 27.8% to₹43.25 crore
  • Snapdeal may acquire ShopClues at a likely valuation of $250 million
  • Sterlite expects to re-open Tuticorin plant in next few months
  • SEBI approves Emami Cement IPO, may hit market in 6 months
  • India favours rule-based, transparent trading system, says Sushma Swaraj
  • China ready for further US trade talks, ambassador Cui Tiankai says
  • Japan exports fall again as Donald Trump’s trade policy threatens economic outlook
  • Real estate firms in a tough spot after Maharashtra AAR ruling
  • Punjab National Bank may take OBC, Andhra, Allahabad bank in fold
  • India, Japan to sign up for Colombo terminal
  • Air India to start new domestic and international flights from next month
  • CCI probe finds Monsanto abused dominant position: sources

Morning Business News Round Up_May 22, 2019

Morning Business News:  

  • Airtel, Voda Idea lose 30 mn users in March, Jio gains
  • Evaluating Jet Airways opportunity, says Hinduja Group
  • NCLAT reserves order on ArcelorMittal
  • PNB may take control of 2-3 small state-run banks
  • Indian millennials optimistic about economic outlook
  • Tech Mahindra inks defence contract worth Rs 300 cr
  • HPCL to borrow Rs 8K cr in FY20 to fund expansion
  • Co-location: NSE moves Securities Appellate Tribunal against Sebi rulings
  • ICRA downgrades long-term rating for IDFC First Bank from AA+ to AA

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  • High-level committee submit strategies on reducing import: Oil ministry
  • RBI to establish supervisory body to strengthen regulation of banks & NBFCs
  • Corporation Bank plans to trim slippages by 50% to Rs 4000 crore in FY20
  • EPFO looks to pull back NBFC investments to avert default risk
  • Govt turns the heat on directors in fight against shell companies
  • Small trucks see growth, bucking industry slowdown
  • Solar-powered water pump launched for farming sector
  • Reliance beats Indian Oil Corporation to become biggest Indian company
  • Vedanta bags two copper blocks in Maharashtra
  • India’s thermal coal output seen growing 4.3% annually till 2028: Report
  • 68% Indians feel job market has improved in last 5 years: Survey
  • India among top 20 countries in the Artificial Intelligence readiness ranking
  • IL&FS initiates claim process for 70 group entities
  • Sebi permits mutual funds to participate in commodity derivatives
  • Crompton Greaves Consumer Electricals Q4 net up 36% at Rs 140.54 crore
  • India projected to grow at 7.1% in FY’20: UN report
  • New Indian government faces crucial foreign policy decisions, say US experts
  • US-China trade war gradually destabilising world economy
  • 46 pc ultra high net worth Indians to increase investment in private equity: Survey
  • L&T market capitalisation to touch Rs 3 lakh crore in five years: AM Naik
  • Oil rises on US-Iran tensions, but trade war concerns weigh
  • Rupee edges up 2 paise against US dollar as investors turn cautious

Morning Business News Round Up_May 21, 2019

Morning Business News:  

  • RCEP: Aluminium body cautions govt about China
  • WTO warns trade weakness to continue in Q2
  • Australian election results bode well for Adani
  • India adopts new standards for measuring units
  • Irdai proposes to increase 3rd-party insurance premium
  • MNC boardrooms open doors to Indian women leaders
  • Power sector’s outstanding regulatory assets at Rs76,963 cr
  • Full blow trade war will push world towards recession: Morgan Stanley

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  • Auditor exits mount at listed SMEs as scrutiny increases after IL&FS crisis
  • Torrent Pharma reports Q4 net loss of Rs 152 crore, cites drug recall
  • Lakshmi Vilas rejects Religare Finance’s disclosure, threatens action
  • WTO: US seeks to join Japan-India consultations on IT product tariffs
  • Tata Motors profit dips 47 % in Q4
  • WTO quarterly trade growth indicator still at nine-year low
  • HPCL Q4 net profit jumps 70% on inventory gains
  • Gold imports rise 54% to $ 3.97 billion in April
  • Ford to cut about 10% of global salaried workforce
  • ICICI Bank to buy stake in BSE subsidiary INX for ₹31 crore
  • BPCL Q4 net profit rises 16% to ₹3,125 cr; revenue up 10% at ₹83,942 cr
  • JLR posts 1st profit in four quarters despite China woes
  • Adani Green Energy’s 8.75 crore shares to be offered for sale on Tuesday
  • Bitcoin roars back from ‘flash crash’ to breach $8,000 once more
  • Bank credit to infra sector grows 18.5% in FY19: RBI data
  • TRAI says up to government to take a call on Huawei issue
  • ArcelorMittal to pay Rs 42,000 crore for Essar Steel takeover: Company tells NCLAT
  • Dr Reddy’s to spend $300 million on R&D in FY 20
  • Rupee records biggest gain in 2 months after exit poll results
  • Gold loses sheen, falls Rs 150 on lacklustre demand
  • Investor wealth soars Rs 5.33 lakh cr as exit polls predict return of NDA govt

Morning Business News Round Up_May 20, 2019

Morning Business News:  

  • MCA sees Rs 2.8 lakh cr recovery from IBC-led RP
  • IOC to examine US sanction’s impact on CPCL plans
  • India may witness slowdown as oil imports decline
  • DoT to soon settle merger/transfer of licences in M&As
  • BoB looks to rationalise 800-900 branches
  • Pre-monsoon rainfall deficit drops to 22 per cent
  • Reliance Capital protests ratings downgrade
  • India reports trade deficit with 11 RCEP members in FY 2018-19
  • OPEC members meet to assess oil market after US sanctions on Iran

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  • NMDC plans to acquire 100 per cent stake in Australia’s Legacy Iron-Ore Ltd
  • Debt-ridden Essar Steel reports Rs 4,229 cr EBITDA during insolvency period
  • ICICI-Videocon loan case: Kochhar contests bonus clawback, ESOP termination
  • CBDT allows AMCs to directly manage offshore funds out of India
  • NBFC crisis to top agenda of new govt
  • Jet employee group offers to invest $700 million
  • AgMA Energy plans to launch India-specific agri products
  • No interest in taking control of IndiGo: Rakesh Gangwal
  • Dredging Corporation of India wins annual contracts from Cochin and Paradip port trusts
  • ONGC, GIP, Tripura govt eye to buy out IL&FS’s 26% stake in OTPC
  • TCS eyes double-digit growth in FY20, says COO Subramaniam
  • Dr Reddy’s Laboratories serves a bitter medicine in March quarter
  • RBI’s vision document on payment systems to spur digital economy: Fintech firms
  • Life insurance industry to focus on millennials, digital-human interface
  • IMFA posts loss of Rs 74 cr in January-March qtr
  • Power producers seek removal of double taxation on imported coal
  • RBI to boost card payments with 34% increase in PoS terminals by end of 2021
  • Japan’s Orix to acquire wind assets of IL&FS
  • GST Council may consider national bench of AAAR next month
  • FPIs withdraw Rs 6,399 crore in May so far
  • AstraZeneca moves US court against Aurobindo
  • RBI releases ‘Vision 2021’ for payment systems for ‘cash-lite’ society

Morning Business News Round Up_May 17, 2019

Morning Business News:  

  • PNB not to sell stake in housing finance arm
  • Niti Aayog bats for ending data monopoly
  • India to benefit from US-China trade war: Experts
  • RBI directs NBFCs to appoint chief risk officer
  • Arcelor Mittal clarifies terms of Essar Steel bid
  • Trump’s Huawei threat is to halt China’s global rise
  • Reliance-BP makes 1st bid for oil block
  • Govt buys 29.26 mn tonnes wheat, set to achieve target of helping farmers
  • Funding crisis to worsen unless India pumps more cash into financial system
  • Only Rs 39,500 cr for distribution among Essar creditors, CoC tells NCLAT

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  • Hindalco Industries Q4 profit down 37% to Rs 236 cr on higher input costs
  • HFCL Q4 profit dips to Rs 52 crore, order book at record high
  • Vedanta, ONGC, RIL-BP in fray for oil, gas blocks offered under OALP-II, III rounds
  • Ashok Leyland bags order for 400 minibuses from Senegal
  • KPIT net profit at ₹30.9 cr in March quarter
  • JSW Energy logs Rs 6 cr profit in Q4
  • Petronet LNG Q4 net falls 16% to₹440 crore
  • JK Tyre skids on high raw-material cost; Q4 net plunges 79% at ₹34 crore
  • Goldman Sachs to buy United Capital for $750 million
  • L&T acquires 8.86 lakh shares of Mindtree; takes overall holding to 26.48%
  • Hindalco not perturbed by European Commission process on Aleris
  • Indian rice prices slide to 7-month low as demand stalls
  • Essel Group to sell 3 road assets to CDPQ
  • SIDBI Q4 net jumps 28% to ₹519.36 crore
  • Mastercard to invest Rs 7,000 crore, double headcount in India
  • Electricity generation seen rising 6.4% in FY20
  • Bank of India back in the black, posts Rs 252 crore profit in Q4
  • Jet Airways sale: SBI Caps rules out Darwin as potential investor
  • Rupee rises for 3rd day; vaults 31 paise to 70.03 vs USD
  • COAI favours minimum broadband speed of up to 2 Mbps for 4G network
  • Vedanta bids for 30 oil & gas blocks
  • Pennar Industries gets NCLT nod for merger

Morning Business News Round Up_May 16, 2019

Morning Business News:  

  • Trade Deficit widens to $15.33 billion in April
  • S. factory output drops for third time in 4 months
  • Independent directors come under corp ministry scanner
  • TCL and TGBL to merge consumer businesses
  • NCLAT admits HUDCO plea claiming dues from Bakshi
  • Sterlite Power commissions first project in Brazil
  • ArcelorMittal resolution plan violative of IBC: Ruia
  • India’s services exports rise 6.6% in March; services imports up by 10.55%

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  • Hindustan Zinc, Tata Steel lean on ‘digitised mines’ to boost productivity
  • Home buyers to pay 12% GST on dues if project gets completed before Apr 1
  • Indian Railways eyes Maruti cars to boost freight business by 2030
  • Lupin’s Q4 disappoints on soft India sales, higher tax and interest costs
  • Coonoor tea earnings surge by over 21 per cent
  • Maharashtra sugar czar slaps seizure notices on 68 mills
  • Global sugar deficit likely to be 2.34 mn tonnes in 2019-20
  • Govt plans to divest 15% stake in RITES; to fetch ₹700 Cr
  • Welspun Enterprises Q4 net up 17% at Rs 30 cr
  • Lupin reviews details of US lawsuit on drug pricing
  • MEA refuses to share details on extradition of Vijay Mallya, Nirav Modi
  • NSE penalises 250 companies for non-compliance of listing, disclosure norms
  • HDFC ties up with India Mortgage Guarantee Corp
  • Mahindra Partners buys out Matrix’s stake In Centre For Sight for ₹206.5 crore
  • Central Bank of India Q4 loss widens to₹2,477cr on high provisioning
  • SAT sets aside Sebi’s order against Piramal Ent, others in insider trading control lapses case
  • GSP countries to benefit from trade war with China, says report
  • Govt plans 400 MW storage-linked renewable projects
  • Jet Airways’ overseas rights to be allotted to other carriers
  • Rupee rises for 2nd straight day; settles up 10 paise at 70.34 vs USD
  • Sensex tumbles 204 points; Nifty ends below 11,200
  • CII to focus on enhancing industry competency, job creation
  • Promoters find it difficult to exit insurance business
  • Audit report finds 107 cases of shady lending at IL&FS

Morning Business News Round Up_May 15, 2019

Morning Business News:  

  • NPA recoveries via IBC in 18-19 at Rs 70,000 cr: Crisil
  • Govt committed to strategic disinvestment of AI: Sinha
  • Jet sinks deep, resolution faces many challenges
  • US puts Chinese, Pakistani companies on entity list
  • Vodafone’s annual loss at 7.6 billion euros
  • India postpones retaliatory tariffs on US products
  • Voda-Idea board OKs merger of 2 units for efficiency
  • RBI needs to go for larger rate cut in June monetary policy: SBI report
  • Monsoon to arrive late on June 4, 15% chance of drought, says Skymet

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  • Indian industry fears dumping of Chinese steel, seeks govt protection
  • At $26.3 bn, PE investment in India in 2018 was second-highest in a decade
  • NCLAT refuses to stay Jaypee Infratech creditors’ voting on NBCC plan
  • Mahindra Logistics eyes acquisitions in SE Asia to strengthen freight wing
  • Demonetisation: I-T Dept probinggains made in agriculture
  • WPI inflation slips to 3.07% in April, food prices still high
  • MCX crude options register turnover of ₹716 crore
  • NMDC to invest $1 billion on infrastructure, says official
  • Rothschild withdraws from advising Adani on Australia project
  • Nestle India Q1 profit up 9.25%
  • Citigroup looks to vastly expand India reach with Paytm tie-up
  • Sebi told Fortis Healthcare Ltd to recover₹403 crore from Singh brothers
  • Union Bank of India posts ₹3,369-cr loss as RBI finds divergence in bad loans
  • InnoVen Capital raises $200 million from Temasek, United Overseas Bank
  • UCO Bank posts net loss of ₹1,552 crore in March quarter
  • Monsanto ordered to pay $2 billion in weed killer cancer case
  • IndiGo wins big, gets 38 of Jet Airways’ 118 plum Delhi slots
  • Jaypee Infratech creditors decide to put on vote NBCC’s revised bid
  • Trade tussle: India voices concern over ‘existential’ threat to WTO
  • Rupee recovers 7 paise along with stocks, ends at 70.44 vs USD
  • L&T acquires 1,168 shares of Mindtree
  • GST details not needed in tax audit till Financial Year 2020
  • Outlook gloomy for auto, brightening for property: Survey
  • SME listings nearing 500-mark

Morning Business News Round Up_May 14, 2019

Morning Business News: 

  • Automated GST refund for exporters by next month
  • Arcelor paying Rs 39,500 crore for Essar Steel and not Rs 42,000 cr: SCB counsel Kapil Sibal
  • Tata Power, Mahanagar Gas ink pact to offer various services
  • India smartphone market grew 7% in Q1 2019: IDC
  • India’s car sales decline 16% in April, the worst in eight years: Siam
  • Saudi oil tankers attacked as Gulf tensions soar amid US, Iran standoff
  • Hudco wants Rs 190 cr bite out of McDonalds-Bakshi deal, NCLAT to hear plea
  • US antitrust probe singes India’s pharmaceutical firms; Sun Pharma falls 9%

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  • Amazon introduces new machines that pack orders and replace jobs
  • SEBI slaps two showcause notices on HDFC AMC
  • Oriental Bank back in black, net profit in FY’18-19 at Rs 55 cr
  • Pre-monsoon showers may see a 5-year low
  • Retail inflation may rise to 4 per cent in FY20: Crisil
  • Relief for TCS as US court rejects CSC’s demand for restraining order
  • Kwality insolvency: Lenders to vote on deadline extension for submitting bids
  • United Bank of India posts profit in Q4, after seven quarter of losses
  • US markets tumble, treasuries rally on China tariffs
  • Vodafone Idea loss at Rs 4,881.9 crore in Q4 amid brutal tariff war, triggered by Reliance Jio
  • April retail inflation climbs to 6 month high of 2.92% as food prices rise again
  • India likely to add 80 GW of renewable energy capacity in next 5 years: Survey
  • Ola credit card: Uber rival is marrying digital payment with mobility in India
  • Home Ministry cancels registration of Infosys Foundation
  • Nabard announces Rs 700-cr VC fund for agri, rural startups
  • ITC Q4 net profit rises 18.72 pc to Rs 3,481.9 crore; Sanjiv Puri is new Chairman
  • Amul expects revenue to grow by 20 per cent to Rs 40,000 cr in 2019-20

Morning Business News Round Up_May 13, 2019

Morning Business News: 

  • Piramal Group plans to buy operational renewable power projects of Mytrah
  • NBFC crisis imminent, says Corp Affairs Secy
  • RBI study finds why there’s a dip in bank deposits
  • Positive sentiment continues for manufacturing sector in Q4, capacity utilisation up at 80%: FICCI survey
  • NCLT dismisses ICICI Bank’s plea to initiate insolvency proceedings against Era Infrastructure
  • FPIs press exit button, pull out Rs 3,207 crore from markets in May
  • DMart Q4 net profit rises 21.4% at Rs 203 crore but margins remain weak

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  • PNB Housing Finance reports net profit of Rs 379.7 cr in Q4FY19; up 51%
  • Apple’s wait bears fruit with sub-continent’s biggest store in Mumbai
  • Reliance entry to digitise 5 million kirana stores by 2023: report
  • SRF to sell engineering plastics business to DSM India for ₹320 crore
  • PC Jeweller gets board’s nod for export division demerger
  • Tata group’s perfume brand Skinn eyes Rs 500-crore turnover by 2023
  • Vedanta’s benign March quarter results bring no solace for investors
  • Accor in talks to invest up to $50 million in Treebo Hotels
  • NCLAT dismisses insolvency plea against SpiceJet
  • Unilever considers $1 billion bid for skincare brand Drunk Elephant
  • Govt to set up panel under DGFT to look at steel availability for engineering exporters
  • Moody’s India probing IL&FS AAA rating by ICRA executives after whistle-blower complaint
  • US-China talks break up with no deal after Trump hikes tariffs on $200 billion in Chinese imports
  • Dalmia Bharat Q4 profit jumps over 2-fold to Rs 264 cr
  • Jaypee Infratech insolvency: Lenders ask NBCC to withdraw some conditions
  • COAI approaches DoT to stop sale of mobile signal boosters on e-commerce sites

Morning Business News Round Up_May 10, 2019

Morning Business News:

  • Reliance acquires iconic British toy brand Hamleys
  • India seeks greater access for farm products in China
  • Realty firms can opt for old GST rate till May 20
  • India urges UK to tweak tax rules for professionals
  • Tata Motors denies reports of sale of Jaguar Land Rover
  • RCom’s bankruptcy begins; next hearing on May 30
  • Coal India to increase auction offering by 14% in FY20
  • L&T acquires additional 2% stake in Mindtree; takes total holding to 26%
  • Sebi initiates proceedings against Icra over rating given to client

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  • Promoter stake in McLeod Russel dips as ABFL sells pledged shares
  • HDFC puts Jet’s Mumbai office space for sale to recover Rs 414 cr
  • UP sugar mills risk Rs 500 cr loss as regulator cuts power tariffs
  • Maruti Suzuki cuts production by around 10% in April
  • Sundram Fasteners Q4 standalone net up 15% to Rs109.54 cr
  • Tata Steel to sell 19% stake in Oman mining arm
  • Granules India Q4 profit zooms over 3-fold to Rs 64 cr
  • Voltas consolidated net falls 27% to ₹ 141.75 cr in March quarter
  • Asian Paints Q4 net slips to Rs 487.50 cr
  • Oil dips as US-China trade worries outweigh supply disruptions
  • PNB Housing Finance profit up 51% at ₹380 crore
  • Indian Overseas Bank Q4 loss narrows to₹1,985 crore
  • Inflows into equity mutual funds slump 61% in April
  • US-China trade gap shrank in March to smallest since 2016
  • MCA may refer Jet Airways to SFIO for fund diversion probe
  • McDonald’s strikes out-of-court settlement with Vikram Bakshi
  • India may export 10-11 million tonnes iron ore pallets to China this year, say traders
  • Dubious firms in MCA-21: Govt says no impact on GDP numbers
  • Gold rises for second day on positive overseas trend
  • India Ratings downgrades Yes Bank with negative outlook
  • Vodafone pledges entire stake in Vodafone Idea with foreign banks
  • E-purchase of jewellery up 38 per cent this time