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Morning Business News Round Up_Dec 03,2015

December 3, 2015 beelineadmin

Morning Business News :

MSCI Asian stocks are standing tall, but Indian peers wilting
Flipkart suffers Rs 2,000-crore wound in bruising discount war
Paytm and ICICI Bank to offer virtual prepaid cards
M&M recovery rides on economic revival
Major rejig at Samsung, slowest growth in 10 yrs
Dr Lal PathLabs, Alkem big hits in the grey market
Financial products better investment tools, says Jayant Sinha
Highway developers to get equitable annuity payments
Make in India boost: Government exempts shipbuilding inputs from customs, excise duties

DIPP likely to back ecommerce companies in legal tussle with footwear firms
Government may consider selling off Scooters India
Government may slap Rs 32 crore penalty on Volkswagen
CIL’s 3.25 MT capacity project in Maharashtra to start by month-end
Tata’s tie-up with ICBC will not impact SBI: says Arundhati Bhattacharya
Natco Pharma suspends work at Chennai plant due to flood
Oyo Rooms looks to buy rival Zo
Janet Yellen signals US interest rate hike not far away
Ramdev’s Patanjali eyes a bigger bite of consumer goods pie with ad blitz

Narendra Modi remains a popular Prime Minister with 74% approval rating
Raghuram Rajan gives rupee bond bulls confidence to forecast end of rout
Wipro buys German firm Cellent for $78 mn
PVR’s acquisition of DLF’s DT Cinemas faces CCI concerns
Sun Life Financial to increase its stake in Birla Sun Life Insurance from 26% to 49%
Tata Steel refinances $1.5 billion worth of loans
Bad loans may rise for Shriram Transport Finance
Manipal Hospitals to tap IBM’s Watson for superior cancer care
Insurers may take ₹2,000-cr hit from Chennai floods
SEBI will not force MF industry to reduce agents commission: Chairman
Fund-raising plan to steer GMR Infra forward
Allahabad Bank to decide on insurance arm
Bajaj Auto bike sales rise 3% in November; exports take a hit
Little gas left at two ONGC blocks; fuel flows to RIL
Asset sale may fetch Bhushan Steel Rs 3,000 cr
Bharti Airtel Doubts on Project Leap
Mutual funds pump in Rs one-lakh crore in equities in 18-months

Today’s Wealth Mantra !

“Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won’t grow any faster than the rate of inflation”

-Suze Orman

Morning Business News Round up_December 02, 2015

December 2, 2015 beelineadmin

Morning Business News :

Car sales rise with high demand for Hyundai Creta & Mahindra TUV, two-wheelers under pressure
China pips India in race for reserve currency status
Need for more economic reforms in China, says IMF
Gold scheme brings Rs 246 cr, RBI issues certificates
Volkswagen’s US sales plunge 25% in November
Alkem Laboratories fixes IPO price band at Rs 1,020-1,050

BRICS bank to issue bonds
D-St gung-ho on GST, most expect bill to go through in winter session
Retail inflation may rise to 5.5% in Q4
Cox & Kings sells 100% of issued, outstanding shares of Explore Worldwide Limited
Coal India misses November production target by 4.42%
IVRCL pins hopes on 18 months SDR moratorium to bounce back
Bankers hint at lowering rates after Raghuram Rajan’s push
Chennai airport temporary shut down due to rains, water reaches runway
India Inc hails International Solar Alliance
Standard & Poor’s keeps Bharti Airtel’s rating unchanged post capex plan
AXA increases stake in Indian insurance joint ventures to 49%
ATF prices cut by 1.2%, non-subsidized LPG rate raised by Rs61.50
Institutional Shareholder Services changes stand, backs Maruti Gujarat plant project
Weak rabi prospects cloud Bayer CropScience outlook
Govt halts subsidy on CFL to encourage LED-based solar lights
Concerns rise about sustainability of record low solar tariffs
Motilal Oswal PE eyes ₹300 cr on exit from Mrs Bector’s Foods
Manufacturing output at 25-month low in Nov on poor new orders
FinMin sees GDP growth in “vicinity of 7.5%” this fiscal
FMCG firms drop prices, create smaller packs to lure rural India
TV18, CNN renew partnership

Sanofi supplies injectable polio vaccine to government
Cox and Kings sells UK unit to Hotelplan
KG Block: RIL may have pumped 15% of ONGC’s gas, says consultant
Benefits of IFRS would start to flow in 2018: Ian Mackintosh
HDFC invokes Mallya’s shares worth Rs 40 cr in USL
Yes Bank signs pacts worth $265 mn with US cos for SME lending
Bihar can replicate the Kerala model and not ban beer: Shekhar Ramamurthy

Today’s Wealth Mantra !

“Derivatives are financial weapons of mass destruction.”

-Warren Buffett

Morning Business News Round up_November 27, 2015

November 27, 2015 beelineadmin

Morning Business News :

Godrej Properties launches mixed-use development project ‘The Trees’ in Mumbai
Ashok Leyland bags $200 million contract from Cote D’Ivoire
Essar Oil: Finally, able to proceed with delisting
NMDC cuts iron ore price by 12.5%
Corridor development projects will help boost investment into the country’
USFDA extends time for Dr Reddy’s to respond on warning letters
Pipavav Defence plans to exit debt revamp package
Tata Motors sees growth from auto logistics
Solar power cos’ funding struggle slows transition to green tech
ACC plans to set up cement brick units
Mahindra conducts raids against fake auto spares in Pune
L&T Construction bags orders worthRs. 1,038 cr
Trai proposes radical changes in spectrum holding norms; suggests government keeps overall cap
Weak monsoon worries CEOs of FMCG like Britannia, Dabur; rural growth takes a hit
Indian Overseas Bank’s Rs 3,000 crore loans cleared in H1 under finance ministry scanner
ASCI upholds decision on ‘misleading’ advertisement by Bharti Airtel promoting 4G services
SRL Diagnostics may see exit of PE investors Avigo Capital, Jacob Ballas and IFC
Telenor ahead in race to snap up Videocon 4G; deal talks confirmed by Videocon

Mobile sector to account for 8.2 per cent of Indian GDP by 2020: GSMA
Harsh Goenka-led RPG Group to enter skin care segment
India adds 2,311 MW green power generation capacity
Hardy Oil & Gas in talks to buy RIL’s 90% stake in GS-01 block
Indian consumers more likely to switch brands, firms: Accenture
Fortis buys Religare Health Trust for $15 million
Incentivize long-term farm investment to reduce distress
Weak construction, real estate demand hurt Cera Sanitaryware
Banks to soon roll out pre-approved overdraft facility from ATMs
India among 5 fastest-growing markets with 275 million new air passengers
Govt gives shipyards more indirect tax sops
IDBI Bank strike on Friday to oppose privatization plans
VW to invest Rs.720 cr on new compact sedan for India
LED bulbs to be available for underRs.44 a unit soon: Piyush Goyal
Maharashtra state power utility shocks consumers with steep levy

Today’s Wealth Mantra !

“It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.”

– Warren Buffett

Morning Business News Round up_November 26, 2015

November 26, 2015November 26, 2015 beelineadmin

Morning Business News :

SunEdison sells 425-Mw projects for $231 mn
‘Housing for All’ scheme to come with cheap power and water
Railways eyes Rs 1.1-lakh cr fund for infra upgrade
US FDA wants third-party audit of Dr Reddy’s units
Axis Bank, Vistara to launch travel credit card
ONGC to move on to next cluster in KG block
Sandoz gets FDA rap over documentation at plants
ED issues notice to NDTV for alleged FEMA violation
Vedanta’s cumulative loss on Odisha refinery cross Rs 4,000 cr
M&M launches new variant of New Age XUV500
Volkswagen to invest ₹720 cr on India sedan
Tata Motors unveils four new construction vehicles at Excon 2015
Bain Capital expects ₹760 cr on exit from Hero MotoCorp

DS Group expects Rs 100 cr revenue from new candy brand ‘Pulse’
BGR Energy bags orders worth ₹300 cr
PepsiCo India set to uncork the ‘good for you’ range

Image result for PepsiCo

Mallya emerges unscathed after USL AGM
Idea-Videocon deal expensive but will cushion against RJio, Airtel attack
Warburg Pincus joins race for MedPlus; General Atlantic also in fray
TFS plans to strengthen India presence, lines up Rs 150 crore of investment
CIL staff not keen to join strike; workers reluctant to sacrifice pay
Vasudha Munjal plans expansion of chocolate brand Choko La
ITC chairman YC Deveshwar elevates executives, opens up race for chairmanship
Reliance Digital races ahead of Tata’s Croma in electronics retail
Hyundai looking for new partner to bid for building LNG ships for GAIL
Delhi’s private discoms BSES, Tata Power want to join debt-recast scheme
Payment cos like Mobiwik, ItzCash among applicants for Bharat Bill Payment System
Sistema Shyam Q3 loss narrows to Rs 406 crore
Swiss drugmaker Roche launches costliest cancer drugs in India

TAPI gas pipeline project to start from December 13
USFDA warning letter flags serious breaches at Dr.Reddy’s
Realty firms turn development managers for smaller companies
Top 10 M&A deals of all time: Pfizer-Allergan ranks second
Small NBFCs plan to build sales teams to draw customers
Infosys board member and independent director Carol Browner steps down
S&P calls for multi-pronged strategy to help banks tide over asset quality issues
Wistron, Optiemus to set up manufacturing unit in India

Today’s Wealth Mantra !

“Wide diversification is only required when investors do not understand what they are doing.”

– Warren Buffett

Morning Business News Round up_November 16, 2015

November 16, 2015 beelineadmin

Morning Business News:

Japan economy shrinks 0.8% in Q3, back in recession
Global markets brace for short-lived jolt after Paris attacks
Defence ministry changes rules to incentivize foreign firms to form JVs in India
India pledges to up renewable energy output to 175GW
Sunil Mittal urges G-20 to invest in digital infrastructure
India to oppose loan clause on environment at G20
Blackstone realty arm sells stake in Synergy

Petrol price hiked by 36 paise; diesel up 87 paise
IMF says optimistic about India’s growth prospects
Modi govt’s gold schemes have potential to perform better
Fertiliser Ministry seeks more than Rs 25,000-cr for urea subsidy bills
Low demand eats into input cost benefits
BRICS Bank to fund inclusive needs of emerging nations
Modi seeks G20 deadline to lower cost of remittances
‘Low’ may not intensify, but no let-up seen in overall rain
Maruti minority shareholders vote on Gujarat plant starts
SEBI wants MFs to lower salary of senior executives
Jindal Steel to cut costs after Q2 loss
US fines Alstom record $772 million in foreign bribery charges
Volkswagen tags 430,000 new cars with implausible carbon dioxide ratings
Bad loans may rise for Shriram Transport Finance
GMR Infrastructure Q2 net loss narrows to Rs399 crore
Execution delays overshadow strong quarter for NHPC
India can be a pillar of global growth: PM at G20 meet
Downward trend in stocks may continue; WPI data key
Old sites can’t house Ultra Mega Power Plants
Tata Steel gets green nod for sand mining in West Bengal
Builders rush to buy land in weak market
EPFO invests Rs 2,300 cr in ETFs in Aug-Oct
PE investments in India touch $14b till Oct
FPIs take out Rs 2,800 cr in two weeks
Top 10 valued firms lose Rs 94,561 cr in market cap
J&K Bank Q2 profit up 13.5% at Rs 196 cr

Morning Business News Round up_November 05, 2015

November 5, 2015 beelineadmin

Morning Business News :

Moody’s downgrades VW due to emissions scandal
Govt will unveil big power reforms in couple of days
RBI issues operational guidelines for gold bonds
5% rise in indirect tax receipts a huge positive: FM
Govt dismisses Moody’s report, calls it opinion of junior analyst
India, US discuss measures to deepen capital mkts
Alstom in major share buyback after GE deal
Volkswagen fails emission tests in India, gets notice
Banks step up pressure on Essar Group
Bankruptcy panel submits report and draft law
IDBI Bank to raise Rs 2,800 cr through a QIP offering
Cairn-Vedanta merger now by June 2016, says Group firm
Maggi noodles clears final tests, relaunch likely late November
Vedanta Resources net loss widens in H1 FY16; halts dividend
Rajan defends his speech calling for tolerance, mutual respect
S. private sector adds 182,000 jobs in October
Reliance Infrastructure to exit cement, roads businesses
Tata Comm building world’s largest IoT network in India
NSE extends waiver of processing fee for MF distributors

Solar tariffs in India hit all-time low of Rs. 4.63
Standard Chartered said seeking to sell Essar Global loans
Godrej Properties Q2 profit jumps 127%
United Spirits to sell French winery by November
ONGC to buy into Adani-Welspun’s oil block off Mumbai coast
India to remain fastest growing IT market in 2016, says Gartner
Services sector growth hits 8-month high in October
Cars, SUVs prices to rise by Rs 6,000 to over Rs 6 lakh in Delhi
DLF Q2 net profit rises 21% to Rs 131.50 crore
Call drops’ Re 1 penalty: Trai, telcos headed for fierce court battle
Cognizant Q3 net grows 12% at $397 mn, raises revenue guidance
Sebi unlikely to challenge SAT order on SRO issue
IOC set to open more border routes to Nepal for supplies
Ashok Leyland Q2 profit after tax up 137%
France reaffirms 2b euros for 3 cities under smart city plan
Bata reports Q2 PAT of Rs 54 cr, turnover at Rs 575 cr
India has only 1% total retail sales in digital commerce

Morning Business News Round up_October 30, 2015

October 30, 2015 beelineadmin

Morning Business News :

Govt To Announce New Civil Aviation Policy Today
FATCA Fact: New US Tax Law Is Shaking Up Indian Trusts
US Economy Slows To 1.5% Growth In Q3
RBI Opens National Pension System For Nris
India Will Offer Concessional Credit Of $10 Bn To Africa: PM
Volkswagen Meets Indian Government On Emissions
Sebi Cuts IPO Paperwork; Notifies 5-Sheet DRHP
Dr Reddy’s Q2 Net Up 26% At Rs 722 Cr
Govt Clarifies Tax Treatment Of Offshore Rupee-Denominated Bonds
Telecom Regulator Sticks To Compensation Order On Call Drops
Cipla Sells Stake In Chinese Biotech Firm
IDFC Bank’s Net Worth Pegged At Rs 13,322 Cr
Airtel To Return 50% Mobile Data Used At Night,Makes Wynk Free
US Plan To Mandate FDA Audit Of Farm Imports Irks India
World Bank Retains India’s Growth Rate At 7.5% This Fiscal
Grasim Net Up 17% On Higher Cement Volumes
NTPC Q2 Net Profit Rises 40% To Rs. 2,898 Cr
Nestle India Q3 Profit Dives 60% On Maggi Noodles Ban
Govt Approves 16 FDI Proposals Worth Rs 4,722 Crore
India Unprepared To Tackle Online Data Security
BPCL, Oman Oil Looking To Sell 24% Stake In Bina Refinery
Yes Bank Q2 Profit Rises 26.5% To Rs610 Crore
Pfizer In Talks To Merge With Botox-Maker Allergan

GE Said To Plan Close On $9.3 Billion Alstom Purchase
Volkswagen May Recall 100,000 Diesel Cars In India
Sensex Falls For Fourth Day, Ends 201 Pts Down, Nifty Ends At 8,111
India Ratings Lowers India FY16 Growth Forecast To 7.5%
US Fed Decision Provides More Space To Emerging Markets: Shaktikanta Das
US Lawmakers Oppose Indian Norms On Pulses’ Stock Limit
Small And Midcap Funds Fare Well In Q2: CRISIL
Interest On Rupee Denominated Bonds To Attract 5% Tax
IRDA Clears Air On Repudiating Life Covers
IPO Of Indigo’s Parent Co Over-Subscribed 3.63 Times
Make Single Premium Policy Tax-Free, Insurers

Morning Business News Round up_October 26, 2015

October 26, 2015 beelineadmin

Morning Business News :

IMF To Include Yuan In Benchmark Currency Basket
China Banks Seek More Capital As Bad Loans Pile Up
China Growth Rate May Fall Below 7%: Premier Li Keqiang
Volkswagen May Offer Discounts To Owners Of Cars With Illicit Software

UK Nuclear Deterrent To Cost 167 Billion Pounds
Sebi Mulls Mandatory ‘Dividend Policy’ For Listed Companies
Modi Govt Plans To Reward Made-In-India Innovations
India’s E-Tail Sees 3-Fold Growth In A Year
Bankers Expect Special Audit Report On Amtek Auto By Next Week
Welspun Group Eyes $5 Bn Revenue By 2020
New Energy Norms For Urea Plants May Save Rs 800 Cr In Subsidy
Govt Telcos In Talks With Pvt Operators To Share Spectrum
Henkel Has Option To Invest In Jyothy
Sept Raises Temperature Of Fuel Sector
The Regulator Has The Right To Tell Us What To Do
‘Sin Tax’ For Alcohol, Tobacco Industries In GST Regime
MEP Infra Targets Highway Projects, Seeks Private Equity Partnerships
DLF Plans To Monetise Some More Housing Projects Thu PE
Demand For Wellness, Preventive-Care Treatment Rising Across Country
Sunteck Realty To Invest Rs 1K Cr To Acquire Distressed Assets
Lava To Invest Rs500 Crore To Set Up Manufacturing Plant In Andhra Pradesh
Competitor Offers $1 Rival To Turing Pharmaceuticals’ $750 Pill
M&A Deals Worth $25 Bn Signed In January-September
IIFL Holdings Q2 Profit Rises 28% To Rs140 Crore
Bank Unions Call For Nationwide Strike On 2 December
Income Tax Department To Roll Out ‘Pilot’ Project For Scrutiny Assessment
Risk-On Carry Trade Back In Global Financial Markets
US Fed Will Weigh Up ECB’s Push As It Sets Rates Message
Air Costa In Funding Talks Ahead Of Launch Of Pan-India Operations
Gold-Related Schemes To Be Launched On The Eve Of Diwali: PM
Fpis Net Inflow Tops Rs 19k Cr In Oct, A 6-Mth High
Sebi Wants Mfs To Join E-Commerce Bandwagon
GE’s India Unit To Export Med Equipments To Africa, ASEAN

Morning Business News Round up_October 08, 2015

October 8, 2015 beelineadmin

Morning Business News :

Govt Plans To Seek Special Dividend From Top Psus To Meet Tax Deficit
‘China Faces Unprecedented Eco Policy Challenge’
Moody’s Maintains US Credit Rating And Stable Outlook
US Dollar Is Own Worst Enemy, Says London Hedge Fund
Tea Board Enforcing PPC To Check Excess Use Of Chemicals
RBI To Be Payment Aggregator For GST
Sebi Steers Clear Of Fresh Probe In NSEL Scam
Redington To Acquire Turkey Based Linkplus
SC Refuses To Modify Order Restricting Use Of Aadhaar Cards
Govt Should Allow FDI In Multi-Brand Through PPP: Assocham
Insurance Regulator May Allow Long Term Products In Health
Mercedes-Benz India Sales Up 34% In Jan-Sep Period

India’s Solar Installations Set To Quadruple In Two Years
Tesco Shows Signs Of Recovery After Profit Collapse
BSE To Conduct PAN-Based Self-Trade Prevention Checks From Oct 12
Indian Pharma Sector Likely To Achieve $55 Bn Turnover By 2020
Additional Spectrum: Court To Pass Order On Charge On Oct 15
Tata Steel UK’s Deficit In Pension Scheme Stands At $138 M
IMF Warns Emerging Markets Of Risk From External Shocks
Maharashtra Govt Orders Lavasa To Return 191 Acres Of Land To Tribals
ONGC Boosts Spending As Exploration Costs Likely To Drop
Volkswagen Halts Sale Of Polo Models In India
75% Of Jaypee Group’s Debt Has Default Rating
ArcelorMittal Exits Algeria By Handing Over Stakes To Govt
Sensex Jumps 103 Points Up On Global Cues, Strong Rupee, Nifty Settles At 8,177;
Air India To Raise Rs 700-Cr Bank Loan To Pay For 6 Dreamliners
Trucks Entering Delhi To Pay Environmental Tax: NGT
PM Narendra Modi’s Make-In-India Plan Could Hurt IAF
HC Restrains Glenmark From Business Of Anti-Diabetes Drugs
ONGC, Cairn Seek Relief From High Crude Tax
Punj Lloyd Enters Transmission, Distribution Segment
Jubilant Life Gets USFDA Nod For Indomethacin Capsules

Morning Business News Round up_October 05, 2015

October 5, 2015 beelineadmin

Morning Business News :

ONGC To Seek Govt Help For $6-Bn KG Project
Adani To Buy Welspun’s 2 Ready-To-Build Power Plants
State Bank Of India To Charge Up To 10% For Home Loans
Cabinet To Consider Rs 4.3 Lakh-Crore Loan Recast Of Discoms
India Pledges To Increase Use Of Non-Fossil Fuels
Indiabulls’s $1 Billion Issue Gets Shareholders’ Nod
Center To Invite Bids For National Agri Market Platform
Volkswagen India Sales Down After 7 Months Of Growth
Lower Costs, Be Vigilant Of Risky Assets, Sebi Tells Amcs
NMDC Slashes Iron Ore Rates By Over 50%; More Revision Likely
New Gas Price Will Discourage Exploration: S&P
RBI Likely To Go For Final 25 Bps Rate Cut In Feb: Bofa-ML
NTPC May Sell Power To B’desh From Upcoming Assam Plant
Transmission Of Interest Rates Cut Will Help Pick-Up In Consumption Demand
Govt To Make PAN Card Must For Cash Transactions Beyond A Limit
NSE To Launch Self-Trade Prevention System From Oct 12

Lack Of Capital Affecting First Generation Entrepreneurs: SIDBI
Switzerland To Publish 1st List Of Unclaimed Accounts In December
Indian Banks Forced To Inject Funds Into UK Subsidiaries: Report
HDFC Raises More Than Rs.10,000 Cr Through Issuance Of Securities
Maruti Board Approves Pact With Suzuki Arm For Gujarat Plant
Adani Ports Signs Pact With L&T Shipbuilding To Evaluate Kattupalli Port
DLF Board To Meet On 8 October To Prepare Road Map For Rental Business
Pending Tax Issues Will Be Referred To Shah Panel: CEA Arvind Subramanian
Tata Steel Invests Rs 22K Crore In Odisha Project; To Start Operation Soon
SC To Examine Essar’s Plea Against Rs 2,300-Cr Fine By DGVCL
Regulatory Environment Key Risk For India’s Airport Sector: S&P
Wary Of Risks, GAIL To Take 10 Pct Stake In TAPI Pipeline

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