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_July 05, 2018

Morning Business News :

  • IBBI amends norms, home buyers can now seek relief
  • Working to make Air India profitable again: Govt
  • India may not be affected by trade war: McKinsey head
  • Public WiFi to contribute $20 bn to GDP by 2019: Study
  • NCLT order on Tata-Mistry case on July 9
  • Govt to extend RRBs’ recapitalisation scheme
  • SC tells Jaiprakash Associates to deposit Rs 6 bn to refund home buyers
  • Lenders may invoke guarantees of Shriram Transport Finance on SVL Ltd
  • Essar Oil UK’s net profit dips 4.2% to Rs 10.37 billion in 2017-18
  • Rs 3.8 trillion from 70 accounts need NCLT resolution by September: Report
  • Rs 700-bn I-T refunds issued to taxpayers, 99% of claims processed: CBDT
  • Yes Bank gets SEBI nod to launch MF business

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  • Cabinet hikes MSP for paddy by Rs 200 per quintal
  • India plans to negotiate with US on oil imports from Iran
  • Qatar fund buys Sahara-owned Plaza Hotel for $600 mn
  • UAE-based Phygicart to enter India with ₹100-cr investment
  • CCEA approves ₹1-lakh cr for research in higher education
  • RBI grants licence to Bank of China to set up branch in India
  • Airtel aims to morph into a technology firm
  • Vedanta weighs $7 billion merger with Anglo American South Africa
  • Maruti Suzuki plans to hike Gujarat plant’s production by 7.5 lakh cars by 2020
  • Accenture’s Q3 revenue rises 16%, profit beat estimates
  • Vijaya Bank hikes lending rates by up to 50 bps
  • CSCs to be engaged as Banking Correspondents under pact with HDFC Bank
  • Cabinet gives nod to bill for setting up DNA banks to store profiles
  • Total CSR spend may cross Rs 50,000 crore by March 2019, says report
  • Salzer Electronics to acquire two overseas firms
  • No impact on property prices post-tax reform

Morning Business News Round Up_April 9, 2018

Morning Business News :

  • SAC shows interest in bidding for Air India
  • NBWs issued against Nirav Modi and Mehul Choksi
  • CVC awaits vigilance report; calls PNB auditors
  • India to flag steel duty hike issue at TPF meet with US
  • To end bankruptcy proceedings, Binani to move country’s top court
  • Flipkart-Amazon combine may face close scrutiny
  • SBI, PNB put 15 NPAs worth Rs 1,063 crore for sale
  • L&T to grab early spotlight at Defexpo with first private sector warship
  • Govt borrowing likely to be lower in second half of FY19 than in the first
  • DIPP to discuss FDI issues in tobacco sector with stakeholders on April 11
  • FPIs stay bullish on India, invest over Rs 37 billion in debt markets
  • Canara Bank to shut three branches in Leicester, Bahrain and Shanghai
  • India, Nepal agree to expedite all connectivity projects
  • Adani Ports inaugurates Dhamra Port 2nd phase expansion
  • Bharat Biotech unveils new brand identity
  • Eight of top 10 companies add Rs 86,000 cr in m-cap
  • With UIDAI curbs on e-verification firms, fintech players turn to physical KYC
  • Jyoti Structures resolution plan may get fresh lease of life
  • Regulators may extend timings of currency derivatives trading
  • ACME Solar to re-file documents for IPO

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  • VLCC to open 50 institutes in India, plans to go international
  • NCLAT interim order clears RCom asset sales to Reliance Jio
  • Avendus arm to lend to small and medium firms
  • India, South Korea to ink pact for seafarers, boost bilateral ties: Nitin Gadkari
  • CGST Mumbai zone mops up Rs 72,509-crore revenue till February
  • Pakistan economy set to surpass last year’s decade-high growth: SBP
  • Tata Chemicals all set to acquire Allied Silica Ltd for Rs 123 crore
  • Monsoon data to affect agri prices in coming months
  • Downstream PSUs to report subdued numbers
  • Cabinet note on new MSP policy soon
  • Lower bond yields and big spends may prod govt to up H1 borrowings
  • Two-wheeler loans grow 32% in 2017; Gujarat has highest NPAs

Morning Business News Round Up_March 15, 2018

Morning Business News :

  • World Bank projects India’s FY19 GDP growth at 7.3%
  • SBI may challenge order against taking over assets
  • Currency in circulation back to pre-demonetisation level
  • LTCG relief for investors of unlisted cos as govt extends indexation benefit
  • Indian realty sector market to reach $180 billion
  • Saudi turns to nuclear power to curb oil addiction
  • Decoding Videocon’s move on Philips, Electrolux
  • PNB fraud: RBI guv Urjit Patel blames regulatory constraints for scam
  • WB to raise lending to India by $1 bn for next five years
  • Strides Shasun gets US FDA approval for HIV treatment drug Efavirenz
  • Torrent may raise Rs 15 bn via QIP as it readies to bid for Sanofi assets
  • Revise GST, impose anti-dumping duty to boost textile sector: Parl panel
  • Bandhan Bank aims to keep gross NPA below 1%

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  • Cabinet approves India, Iran double taxation pact
  • Wholesale price inflation eases to 2.48% in Feb
  • Ban on LoUs to have disruptive impact: India Inc
  • Suzlon installs India’s largest wind turbine generator
  • Calderys India Refractories eyeing 25% capacity expansion
  • L&T wins contracts worth₹1,600 crore
  • BoI hits pay dirt on recoveries, helps lift sentiment for public sector peers
  • Yes Bank acquires 17.31% stake in Fortis Healthcare
  • Bharat Dynamics IPO sees 46% subscription on Day 2
  • UltraTech Cement hikes bid for Binani Cement to $1 billion
  • PNB fraud: ED seeks Interpol warrant against Nirav Modi, Mehul Choksi
  • Sensex, Nifty end in red as blue-chip shares plunge, PSU banks rise up to 14%; OMCs tumble
  • Bharti Airtel approves allotment of debentures to raise Rs 3,000 cr
  • 67% Indian businesses hit by ransomware, 38% twice: Sophos
  • Aviation ministry eyes 5-fold rise in passenger trips to 1 bn in 15-20 years: Jayant Sinha
  • Clean-up act: Banks may give PNB short-term loans
  • Wipro to divest hosted data centre services biz to Ensono for $405m
  • RBI Guv calls for more powers to regulate state-owned lenders

Morning Business News Round Up_March 14, 2018

Morning Business News :

  • RBI scraps LoUs, the tool that set off India’s biggest banking scam
  • Raghuram Rajan defends 80:20 gold scheme
  • Tata Sons sells shares worth nearly Rs 9,000 cr in TCS
  • Bhushan Steel’s insolvency resolution put on hold
  • SBI closes 41L SB accounts for not keeping min balance
  • Nirav case: Total fraud amount rises to Rs 13,600 cr
  • Showcause notices issued to telcos on call drops: TRAI
  • SC extends deadline for linking Aadhaar to phones, bank accounts

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  • States issued Rs 283.98 bn as GST compensation till Dec: Arun Jaitley
  • PNB discloses Rs 9.42 bn additional exposure in Nirav Modi, Choksi fraud
  • Govt to sell 10% stake in HAL through Rs 42.30 billion IPO
  • BPCL to participate in insolvency process for Nagarjuna Oil corp
  • Banks agree to govt terms for Rs 800-billion recapitalisation bonds
  • MCX set to launch world’s first brass futures contract
  • Near-term correction likely in NCDEX refined soya oil
  • July-Dec 2017 saw surge in MSMEs seeking credit for first time
  • Suzlon installs India’s largest wind turbine generator
  • Zydus Cadila gets USFDA nod for Tizanidine tablets
  • HDFC to pare over 4% stake in AMC arm through IPO
  • Gail India buys 2 LNG cargoes for April delivery-traders
  • HDFC Bank blocks all its cards to buy, trade cryptocurrencies
  • RCom says to appeal NCLT order against Reliance Infratel asset sale
  • Bharat Dynamics IPO sees 32% subscription on Day 1
  • Over 9,000 cases under consideration of NCLT, including over 2500 cases of insolvency, says government
  • India to become collateral damage in Trump’s trade war on steel, aluminium
  • IBC: Government says no reduction in resolution plan submissions post Ordinance
  • China accounts for 66 pct of India’s bulk drug imports in FY’17
  • Karnataka allots 43 acres to Wistron for Apple’s iPhone unit
  • SBI retains minimum balance limit, but cuts penalty charges by 75%
  • Eicher ends Polaris JV, Multix dumped
  • Suzlon to set up 36 wind units for Maharashtra utility
  • Small cars have higher insurance loss ratio than SUVs

Morning Business News Round Up_March 12, 2018

Morning Business News :

  • US, China keen to join International Solar Alliance
  • Jet Airways, Air France, others to bid for Air India
  • Disney’s ‘Black Panther’ reaches $1 billion globally
  • India should drag US in WTO over tariff hike: Experts
  • Govt to get around Rs 8,044 cr dividend from Coal India
  • SBI tightens noose around borrowers in jewellery sector
  • PFC’s power projects with 14,000 Mw capacity to go down insolvency alley
  • SBI, UCO Bank looking for buyers to clear off Rs 12.45-billion NPAs
  • PM Modi calls for concessional, less-risky financing for solar projects
  • ‘Powerful’ UP govt is top defaulter with Rs 100-bn power dues
  • Need $1 trn to achieve 1 TW solar power capacity by 2030: Emmanuel Macron
  • Govt to invest Rs 50 bn in Food Corporation of India in 2 years: Parl panel
  • India on its way recovering from demonetisation disruptions: IMF
  • GST Council meet: E-way bill from April, easier returns delayed

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  • India can stand tall in a trade war: Anand Mahindra
  • NTPC to acquire Kanti, Nabinagar JV plants for Rs 3,000 cr
  • As Chinese imports decline, domestic refractory makers eye larger market
  • Women make up just 22% of S&P 500 boards: Report
  • Neuberg Diagnostics to invest ₹300 cr for expansion
  • Manufacturing outlook positive for January-March quarter: Ficci
  • EON to acquire RWE’s Innogy, upending German energy industry
  • India, China key engines of global economic growth: IMF’s Tao Zhang
  • CCI clears RCom’s plans to sell infra assets to Reliance Jio
  • India, China important engines of regional and global economic growth: IMF
  • European Union says no ‘immediate’ clarity from US on trade tariffs
  • Coca-Cola plans to localise two-third of its products portfolio in India
  • High production to keep prices under pressure
  • Rural, infra spaces may see momentum in next few quarters
  • Oil, fund flows, GST glitches key risks in 2018: Crisil
  • Inefficiencies in logistics cost India $95 billion
  • PMO calls officials’ meet on exporters’ GST refunds

Morning Business News Round Up_March 9, 2018

Morning Business News :

  • Indian economy will have V-shaped recovery: Garg
  • PNB may be given 1 year to provision against fraud
  • India Inc has Rs 2L cr cash trapped in balance sheets
  • Government eases norms for e-way bill generation
  • NCLT ​accepts Aircel’s bankruptcy petition
  • Adani, Essar, Jaypee power plants in stressed list
  • Japan to recruit 2 lakh Indian IT professionals
  • Corp resolution: L&T moves NCLT against Bhushan Steel
  • India set to achieve 20 GW solar energy capacities this fiscal itself: Govt
  • Direct tax collection rises 19.5% in the April-Feb period to Rs 7.44 trn
  • Adani rethinks Abbot Point options as debt refinancing stalls in Australia
  • Airbus signs contracts with two Indian startups

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  • Railways aim to save Rs 100 billion a year with reverse auction bidding
  • Airtel-Telenor merger approved by NCLT; Airtel to get ops in 7 circles
  • UAE free trade zone woos Indian companies
  • Choksi blames investigative agencies for flouting law
  • BASF SE in talks to acquire Bayer’s vegetable seed biz
  • Without US, 11 Asia-Pacific states to sign trade deal
  • Apollo Tyres opens an all-women rubber sheet making unit
  • KEC International wins Rs 1,378-cr job orders
  • Bitcoin under pressure as US, Japan revive regulation concern
  • Japan eyes India to fill manpower gap in its information technology sector
  • Azim Premji quietly gives away more to charity
  • Sugar mills hit as excess output trips supply balance
  • Corruption common in public sector banks but trust intact, says survey
  • Parliamentary panel, SBI flag concern over stressed power companies
  • Equity MF inflows intact despite sharp market fall
  • Positive momentum in sales adds more teeth to auto sector
  • ED confident of Nirav’s deportation to India
  • L&T Infotech to help America’s vintage churches from decaying

Morning Business News Round Up_Feb 27, 2018

Morning Business News :

  • NCAER pegs India’s 2018-19 economic growth at 7.5%
  • CBI seeks details of nostro transactions from 5 banks
  • DGS seeks HUL response on GST calculation method
  • WhatsApp leaks: HDFC Bank submits report to Sebi
  • Bhushan Steel bid: Liberty makes case before NCLT
  • Services, industrials to lift Q3 GVA print to 6.8%
  • UPI-based system mulled for retail investors in IPOs
  • Rs 11 trillion priority sector lending target achievable: FM
  • SBI Chairman expects PNB to clear Rs 13 bn dues
  • RInfra wins Rs 2.92 bn arbitration with Goa govt over non-payment of dues
  • RIL-BP’s $4 bn plan for developing 3 sets of discoveries in KG-D6 approved
  • Weinstein studio to file for bankruptcy as investors stop funding
  • ACC shelves plans to merge with Ambuja Cement
  • KYC norms for e-wallets made mandatory from March 1

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  • Technology, better supervision needed to tackle banking malpractices: CII
  • Aircel’s woes rise as majority shareholder Maxis decides not to infuse more funds
  • Daiichi-Ranbaxy row: HC orders attachment of Singh brothers’ assets
  • PFC to lend Rs 50,200 cr for UP power projects
  • Indian equities no longer top pick among emerging markets
  • Trai begins consultation to fix service quality norms for LTE calls
  • Anadarko in talks with nine Indian firms to sell gas from Rovuma basin
  • Idea-Vodafone building war chest to take on rivals
  • Kalyan Jewellers looks to file IPO papers in a month
  • BSNL selects Nokia to launch 4G service in 10 circles
  • HG Infra IPO 11% subscription on Day 1
  • 70% IGST refund stuck due to flawed claims filed by exporters: CBEC
  • Vodafone group CEO Vittario Colao terms Trai predatory pricing rule as unfair
  • Govt publishes names of 9,500 high risk non-banking financial companies
  • Grundfos bets big on e-pumps; eyes Rs 1,000 cr turnover from India in 4 years
  • RBI raises currency derivative trade limit to USD 100 mn
  • Hindustan Zinc invests Rs 600 cr in 2 new mills
  • Bank NPAs to rise with new resolution rules
  • Warburg Pincus to sell part stake in Lemon Tree Hotels via IPO
  • Auction by Andhra Bank exposes chinks in banking

Morning Business News Round Up_Feb 26, 2018

Morning Business News :

  • PNB-wary banks now plan to get solid cover for lone wolf attacks
  • Sebi, bourses probe stock manipulation at PSBs
  • PNB: ED to seek info from over dozen countries on Nirav
  • AP signs MoUs of Rs 1.75L cr, RIL to invest Rs 55K cr
  • COAI says no question of apology to Reliance Jio
  • Taxmen told to go the whole hog for record Rs 10 lakh crore kitty
  • India will soon leapfrog to cutting-edge rail technology’
  • Dr Reddy’s gets EIR, says USFDA maintained OAI status for Srikakulam plant
  • JSW Steel close to acquire Italian firm Aferpi for Rs 6 billion:
  • Essar Shipping plans to double cargo tonnage to 30 MT by 2019-20: CEO
  • Catholic Syrian Bank to increase equity to allow Fairfax on board
  • PNB scam, possible Fed rate hike spur Rs 100 bn FPI sell-off in Feb
  • MSE gets Sebi nod for electronic book building mechanism for online bidding

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  • Jaitley slams regulators’ failure to detect PNB fraud
  • One-page return, staggered filing likely for GST
  • Multinational accounting firms face the heat
  • Bhushan Power bid: NCLT to hear Liberty House plea on Monday
  • Pharma industry told to make use of changing demographics
  • Turkish ground handling co Celebi plans to invest in India
  • ONGC Videsh drops plan to build LNG export facility in Iran
  • Hindustan Zinc to commission 2 new mills at Rs600 cr cost
  • Grasim Industries gets green nod for Rs1,800 crore expansion project
  • SBI set for UK restructuring
  • Europe to shut ABLV Bank at center of a scandal roiling Latvia
  • India may allow only commercial coal mining in the future
  • 70% IGST refund stuck due to flawed claims filed by exporters: CBEC
  • Focus on investment, productivity to lead to sustainable growth rate: Report
  • Huawei unveils world’s first 5G commercial modem
  • Tech Mahindra bets big on 5G services, sets up lab in Bengaluru
  • Wealth of Indian rich equals15% of GDP, poor getting poorer
  • Sebi, SEs look for manipulation in bank derivatives
  • FPIs pull out Rs 10,000 cr from equity market this month
  • CBI files Rs 97 cr loan default case against Simbhaoli Sugars; chairman, Dy MD
  • FinMin, RBI to hold talks on raising FII limit in G-Secs