Morning Business News Round Up_Mar 20, 2019

Morning Business News:

  • Economists raise concerns over slowdown with RBI chief
  • RBI seeks modification of NCLAT order in ILFS case
  • Lenders may invoke Goyal’s 51% stake in Jet
  • SBI inks pact with Bank of China for biz opportunities
  • BofA buys its biggest distressed asset in India
  • Sebi asks Singh brothers not to dispose assets
  • LTI-Mindtree combined entity to overtake TechM in two major verticals
  • Trade deficit touches $165 billion, highest since FY13
  • GST Council approves transition plan for new tax rates for real estate

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  • State-owned oil companies move poll panel to allot 31,800 new fuel outlets
  • Rs 2,000 cr of unclaimed dividends lying with investor protection authority
  • BSNL seeks to rent its land to other state-owned units instead of selling
  • Etihad may exit Jet Airways by selling 24% stake to SBI
  • Zydus Cadila gets USFDA nod for antiviral ointment
  • Ebix commences due diligence to acquire Yatra
  • DGCA clears Jet Airway’s schedule with 41 aircraft
  • TCG Lifesciences receives USFDA nod for Hyderabad plant
  • India’s fuel demand rises 3.8% in Feb
  • Jaitley slams 108 economists for doubting Govt’s economic data
  • CPSE ETF receives bids worth ₹6,072 cr from anchor investors
  • IOC pays 2nd interim dividend; ONGC to consider on 23 March
  • Pine Labs acquires Qwikcilver for $110 million
  • DLF-Hines JV to develop ₹1,900 crore Gurugram commercial project
  • Aluminium hits 3-month high after Hydro cyber attack
  • IDBI Bank to borrow up to Rs 4,000 crore via bonds next fiscal year
  • India becomes top importer of Gold Doré Bars from Bolivia
  • India’s bad loans worst in world, surpass Italy in dubious record; see map
  • No input tax credit for post-supply discounts: AAR
  • Sensex jumps 268 pts; Nifty above 11,500
  • Sale deal in final stage of completion: Star Health
  • PowerGrid says it fully utilised JPY 22 billion loan from SMBC
  • Kotak Mahindra group sets up USD 400 mn fund to build office properties

Morning Business News Round Up_Mar 18, 2019

Morning Business News:

  • India mulls Iran-model to buy Venezuelan oil
  • RBI Governor to hold pre-policy meet on March 26
  • CPSE ETF: 5th tranche subscription to open on Mar 19
  • IL&FS to receive first set of bids on Monday
  • RBI not in favour of changing IDBI Bank’s name
  • Schlumberger seeks deviations in ONGC oilfield tender
  • Deutsche Bank set for merger talks with Commerzbank
  • Lakshmi Vilas Bank to avoid PCA with fresh capital
  • India to post customs officers in China to check black money, frauds
  • BSNL to knock on NCLT’s door this week to recover Rs 700-cr dues from RCom
  • Beating drums to shouting aloud, Sebi flags outdated ways to recover funds
  • FPIs pump in Rs 20,400 crore in first half of March on positive global cues

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  • At 7.25 million tonnes, NTPC eyes 170% rise in FY19 captive coal production
  • Steel firms urge Govt to rein in clandestine imports from Iran
  • Tata Realty set to acquire Tata Sons’ stake in housing arm for₹3,000 cr
  • India proposes pact with Africa to enhance bilateral trade
  • Assocham pitches for 8-8.5 per cent growth rate
  • Kalyani Group to set up Missile MRO in Hyderabad
  • LIC may propose 3-5 year time for IDBI Bank stake cut
  • L&T set to acquire Mindtree for ₹16,250 crore
  • Deadline for ACCIL’s bid likely to see extension
  • GST Council to issue new tax norms for real estate
  • BSNL, MTNL may leverage assets in their turnaround plan
  • Reserve Bank of India’s unusual liquidity tool finds praise in timing
  • ING money laundering woes worsen after Bank of Italy inspections
  • RBI not in favour of changing IDBI’s name to LIC Bank
  • US says door open for India to bring serious trade proposal to table
  • Glencore, Edelweiss offices raided over probe into pulses price fixing
  • CAIT urges govt to probe Chinese goods imported via hawala route
  • Acquisition of Chennai firm at centre of fraud investigation
  • SEBI mulls reducing rights issue listing time
  • NTPC’s captive coal output to nearly treble in 2018-19
  • US Court dismisses visa fraud lawsuit against Infosys, Apple

Morning Business News Round Up_Mar 15, 2019

Morning Business News:

  • Brookfield to acquire Ambani’s pipeline for Rs 13,000 crore
  • India’s oil imports from Iran slump 60% in Feb y/y
  • NCLAT adjourns Essar Steel case till March 15
  • Panel of regulators discuss issues concerning economy
  • Fresh NPAs to moderate in FY’20: ICRA
  • Vedanta to shut Namibian zinc refinery for five weeks
  • Sebi asks REL, RFL to recall Rs 2,315 crore loan given to Malvinder, Shivinder Singh
  • Govt may receive Rs 2600 cr more from Coal India as second interim dividend
  • China industrial output growth falls to 17-year low; jobless rate rises
  • RInfra to sell entire stake in Delhi-Agra Toll Roadway for Rs 3,600 cror
  • RBI’s $5 bn forex swap to keep rates, rupee appreciation down: Analysts

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  • Airtel arm applies for licence to offer in-flight connectivity: Sources
  • Export credit dips 45% on rise in NPAs, regulatory reforms
  • Jet faces $140-m ECB payment default to HSBC
  • Indian companies need not worry about Brexit: UKIBC Chair
  • MAX grounding could cost global industry $10 m a day
  • Govt sets new deadline for loan eligibility for sugar mills
  • Zydus Cadila gets USFDA nod to market generic anti-diabetic drug
  • DHFL denies report of clean chit by regulator
  • SBI, ICICI & HDFC Bank to comply with additional capital norms by 1 April: RBI
  • Jet Airways’ equity partner Etihad reports $1.28 billion loss in 2018
  • Mahindra takes second crack at US auto market with ‘India tough’ off-roader
  • Tata Motors’ JLR recalls 44,000 cars over CO2 emission levels
  • 21 lakh jobs in the offing as these sectors lead blue-collar revolution
  • Bank of India to raise Rs 400-500 crore from non-core asset sale this month
  • Brexit impasse sees UK property price index drop to 7-year low
  • BSNL-MTNL losses will be far more than even Air India
  • Life insurers register 33 pc growth in new premium income at Rs 18,209 cr in Feb
  • Harley looks to consolidate position in big bike segment in India
  • ONGC’s Mumbai High, Vasai East saved from going into pvt hands
  • RBI classifies IDBI a private bank

Morning Business News Round Up_Mar 14, 2019

Morning Business News:

  • Sebi provides framework, timeline for counter offer process
  • EC gives go-ahead to GST Council meeting on March 19
  • India far away from being less-cash economy: Nilekani
  • Don’t believe Rcom will let Anil Ambani go to jail: SBI
  • Govt pushes IOC, ONGC to pay 2nd interim dividend
  • Patanjali raises bid value to take over Ruchi Soya
  • Tata Motors bags orders for over 2,500 CVs
  • RBI to swap $5 billion with banks to aid system liquidity
  • DoT mulls Rs 13,000cr bailout package for debt-ridden BSNL

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  • Auto retail sales drop 8.06 % in Feb as weak demand continues: FADA
  • PFC, REC merger may leave discoms with higher-than-usual dues on books
  • Iron ore supply disruptions spike demand for low-grade Indian fines
  • Tata Steel BSL prepays Rs 3,000 crore loan riding on massive turnaround
  • MCA releases national guidelines on business conduct
  • Auto industry, organisations can buy bulk vehicle data from next fiscal: Policy
  • Tea Board issues fresh guidelines with eye on quality
  • CERC mulls regional power market for South Asia
  • Oil regulator hikes tariff of pipeline transporting Reliance gas by 37%, half of sought
  • Acko General Insurance raises $ 65 million in Series C Funding
  • Reliance halts oil exports to Venezuela in view of US sanctions
  • Jet Airways grounds 5 more planes due to rental default
  • COAI asks e-commerce firms to stop sale of illegal network boosters
  • Shrinking LME stocks push zinc prices to 8-month high
  • Moody’s assigns Baa2 rating to Hudco; outlook stable
  • Azim Premji raises philanthropy bar with $21 billion total pledge
  • NCLAT reserves order on RCom plea to release funds
  • Sun pharma ties up with China’s HitGen for molecular discovery
  • Narendra Modi’s MUDRA Yojana spells trouble for banks; bad loans jump 53%
  • GST officials detect tax fraud of Rs 224 crore by 8 companies
  • Market rallies for 3rd straight day; Sensex jumps 216 points
  • Rupee rallies for 3rd day, up 17 paise against US dollar
  • CCI clears Radiant Life Care-Max Healthcare merger
  • Pvt manufacturing firms posted 24.9 pc growth in net profit in Q3: RBI
  • Tata expands Formula 1 presence with Williams tie-up

Morning Business News Round Up_Mar 13, 2019

Morning Business News:

  • Sebi revises disclosure requirements for significant beneficial ownership
  • SBI to auction Rs 2,338 crore of NPAs on March 26
  • RCom lenders contend to have 1st right over IT refunds
  • EU adds 10 countries, including UAE, to tax blacklist
  • Huawei re-enters smartwatch business in India
  • Export index for states on anvil to boost competition
  • Coal imports by state power plants up in FY19
  • Industrial growth slows to 1.7% in Jan 2019 vs 7.5% in year-ago period
  • Ramdev’s Patanjali Ayurved ups offer for bankrupt Ruchi Soya to Rs 4,350 cr

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  • Capitalism not providing equal opportunities, under serious threat: Rajan
  • Mining waste is an environmental time bomb and the industry its creator
  • US warns of WTO action over discriminatory new taxes on digital giants
  • Bharti Airtel to lower direct stake in Infratel from 50.33% to 18.3%
  • Retail inflation rises to 4-month high of 2.57% in Feb
  • Rising oil prices, liquidity squeeze at banks will hit economic growth in FY20: CARE
  • CERC mulls regional power market for South Asia
  • KEC International bags orders worth ₹1,323 cr
  • Zydus Cadila gets USFDA nod to market blood pressure lowering drug
  • ICEX turnover jumps 5-fold in six months to ₹5,332 crore
  • Media, entertainment industry to generate $33.6 billion revenue by 2021: EY
  • L&T prepares for hostile takeover of Mindtree
  • CPSE ETF additional sale on March 19, govt to raise over ₹3,500 crore
  • DPIIT extends deadline for public comments on draft e-commerce policy
  • Uday Kotak, Asia’s richest banker, gets richer amid 5-year tussle with RBI
  • Mahindra CIE Automotive to buy Aurangabad Electricals for Rs 875.6 crore
  • Tyre industry asks govt to ease availability of natural rubber
  • Birlasoft completes merger with KPIT’s IT services division
  • Maharashtra sugar factories getting into retail sales to rein in liquidity issues
  • Yatra to review takeover proposal of Ebix
  • Sensex shoots up 481 points; Nifty reclaims 11,300-level
  • Bank of India raises Rs 660 cr by selling shares to employees
  • Bharti Airtel to slash direct stake in Infratel
  • First REIT gets Rs 876 crore ahead of public issue

Morning Business News Round Up_Mar 12, 2019

Morning Business News :

  • PNB awaits SBI resolution plan on Jet Airways
  • NSE launches weekly options on Nifty IT index
  • Venezuelans scramble for food, water as oil exports hit
  • Crisis-hit Jet Airways defaults on repayment of ECBs
  • Former Essar directors oppose Arcelor takeover
  • TVS Motor announces 2nd interim dividend of 140%
  • Siemens’ finance arm buys 46% stake in Greenko’s wind unit
  • Oil, gas policy: Govt not to seek share of profits in less explored areas
  • Moody’s upgrades rating for Central Bank, IOB over capital infusion
  • IRDAI seeks proposal from LIC on stake reduction in the IDBI Bank

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  • GST Council to meet on March 19 to finalise real estate tax structure
  • RBI inching towards becoming tenth largest holder of gold worldwide
  • Godfrey Phillips denies charges of FDI norms violation
  • Dr Reddy’s wants UK firm to pay $70-million compensation
  • MEP Infra secures over ₹1,400-cr for 3 ‘hybrid annuity’ road projects
  • Auto woes drive dip in German industrial output
  • Prices of BLF fall in most tea producing states in February
  • NHPC eyes 46% higher capex next fiscal
  • National Housing Bank’s norms will not address credit risk of HFCs: Moody’s
  • Govt bans unregulated deposits offered by builders, jewellers
  • Jet Airways denies report of ₹2,050 crore loan from PNB
  • RBI warned of demonetisation impact on Indian economy, no effect on black money
  • China pushes against US demands on trade deal enforcement, yuan
  • Encouraging neighbours to buy electricity from India: CERC eases power trading norms
  • Jaypee homebuyers will get flats in 3 years, assures NBCC
  • Steel-making units for SME sector become imperative
  • HSBC Daisy moves Supreme Court in Anil Ambani, Reliance Infratel’s Rs 230 crore default case
  • Sensex posts biggest gains in 6 months, reclaims 37K mark in pre-poll rally
  • FCI sells almost entire pulses stock of 2.98 lakh tonne
  • Global economy hits weakest spell since financial crisis a decade ago
  • Rupee gains 25 paise against dollar on positive cues

 

Morning Business News Round Up_Mar 11, 2019

Morning Business News :

  • Finance Ministry eyeing part of non-core asset sale proceeds of CPSEs as dividend
  • China, US reached consensus on exchange rate issues
  • Govt amends SEZ rules in three critical areas
  • IDBI Bank considering renewal of term for current MD
  • Savings of millions of armymen now junk due to IL&FS
  • FinMin may borrow 60% from market for H1
  • PNB: Agencies to probe who helped Nirav set up UK biz
  • Anil Ambani’s Reliance Capital looks beyond Nippon Life for AMC stake
  • Naresh Goyal to shed stake to 17% in Jet bailout plan; lenders to hold 30%
  • India seeks Saudi investment in strategic oil storage to resurrect refinery
  • Govt scraps 6th, 7th rounds of coal mine auction; sale of 19 blocks on hold
  • Magma Fincorp expects to close FY19 with 20% growth in disbursals
  • CBDT allows offshore fund managers to operate from India
  • EPF transfer on job change to become automated from next fiscal
  • ‘Access to formal credit increases income of farmers’
  • Suven Life inks pact to buy assets of Rising Pharma units
  • DLF to launch over Rs 3,000 cr QIP by June
  • Sebi seeks powers to grant immunity, impose lesser penalty in lieu of assistance

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  • India targets Saudi investment in building strategic oil reserve
  • US, China have reached consensus on many vital issues, Yi Says
  • FPIs invest over ₹2,700 crore in five sessions on global cues
  • Essar Steel, Binani insolvency resolutions get official clean chit; top body says no contradiction
  • CII releases roadmap for 8% growth in coming years
  • India-SICA talks to take place soon to help promote bilateral trade and investments
  • High value cars, jewellery to become cheaper as TCS to be excluded in computing GST
  • Irdai panel suggests host of steps for speedy settlement of insurance claims
  • RBI says no data on demonetised 500, 1,000 notes used at petrol pumps
  • IRDAI issues norms on conflict of interest

Morning Business News Round Up_Mar 07, 2019

Morning Business News :

  • India may move to WTO against US over import sops
  • DHFL didn’t create shell companies: Audit report
  • CBDT notifies relaxed norms for start-ups
  • OECD cuts global growth forecast over trade, Brexit uncertainty
  • Biocon gets 6 observations from USFDA after inspection of its Bengaluru plant
  • NHPC pays Rs 527 crore dividend to govt
  • US trade deficit surges to 10-year high in 2018 at $ 621 bn
  • SC decision puts banks at risk of adding $25 bn to power sector NPAs
  • BoB, Dena, Vijaya Bank merger could open Rs 1,000 cr IT outsourcing window
  • Rs 25,000-cr infusion not enough to stabilise Bharti Airtel’s rating: S&P

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  • Grab raises $1.46 bn from SoftBank Vision Fund; $4.5 bn secured so far
  • Sugar production around 248 lakh tonnes till Feb 28: ISMA
  • Kerala govt moves HC against airport contract granted to Adani
  • Bombay HC asks NSL to deposit₹138 cr in MMBL-royalty issue
  • Philip Morris circumvented FDI ban on cigarette manufacturing
  • India requires pragmatic compulsive licensing system: Cipla
  • Govt bans import of solid plastic waste by SEZs, EOUs
  • Nomura sees GDP growth target below 7% in 2019-20
  • CBI seeks additional documents from ICICI Bank in Videocon loan default case
  • European Union says ‘no solution’ yet to break Brexit deadlock
  • Banks encash bond holdings to service rising demand for credit
  • India needs more globalization to boost wages: World Bank-ILO report
  • Donald Trump acts tough on India; US to withdraw zero duty import benefit on 1,784 items
  • February peak power demand rises 3% year-on-year
  • DoT panel divided on E&V band spectrum allocation
  • NELCO gets in-flight, maritime connectivity licence from DoT
  • Rupee rises for 2nd day; up 21 paise to 70.28 vs USD on easing crude prices
  • Sensex spurts 193 points; Nifty closes above 11,000-mark
  • OECD lowers global growth forecast over trade tensions

Morning Business News Round Up_Mar 05, 2019

Morning Business News :

  • India needs land, labour reform to aid mfg: CEA
  • India Inc’s foreign borrowing down 45% at $2.42 billion in Jan
  • Stressed accounts of Bhushan Power, Essar up for sale
  • After Mallya saga, Sebi wants Companies Act changed
  • MSCI India weight in MSCI EM index likely to fall 20 bps by November-end: Goldman Sachs
  • Gail chosen for Vedanta’s Barmer gas output buy
  • ONGC recieves single bid from US firm for oil field production upgrade
  • RIL arm to acquire stake in Grab a Grub and C-Square for Rs 228 crore
  • IDBI Bank gets govt nod to handle import, export transactions with Iran
  • DIPAM to set up asset-monetisation cell to hasten sale of CPSE assets
  • RBI slaps Rs 11-cr fine on 4 banks for non-compliance in Swift operations

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  • GMR Hyderabad airport divests stake in flight training academy
  • ‘Trump’s tirade against India’s import tariffs unfair’
  • Coffee exports up 13% in first 2-months of 2019
  • BHEL to set up solar-based EV charger network on Delhi-Chandigarh highway
  • Adani Ports to pump ₹53,000 cr to expand capacity of Kattupalli port
  • Jet pledges FDs worth ₹1,500 crore with State Bank of India to stay in the air
  • OPEC likely to defer output policy decision until June: Report
  • Superior execution powers ABB India, but lofty valuations set the bar high
  • Mahindra Lifespace looks to add strategic investment partners
  • Panel to review if Sun Pharma, Meril Life merit price cap relief
  • Despite shining steel, power and debt to remain drag for JSPL
  • Nestle India unlikely to increase royalty payout beyond 4.5%
  • Grant Thornton identifies Rs 13,000 crore worth irregularities in report on IL&FS
  • Orchid Pharma set for fresh EOIs for resolution plan, Divis and Gland Celsus Bio show interest
  • Govt to set ball rolling for 1 GW solar power in NE
  • Helpless Mumbai Port Trust sits on 1,900-acre prime land
  • DBS Bank floats local arm, aims to triple business
  • GST collection drops to Rs 97,247 crore in February
  • Sebi board approves lowering of fees, easier norms for startups

Morning Business News Round Up_Mar 01, 2019

Morning Business News :

  • Core sector growth slows down to 1.8% in January
  • Airtel gets board approval to raise Rs 32,000 crore
  • India to see lower productivity, weak demand: D&B
  • Govt keen on amalgamation of PSBs: Arun Jaitley
  • NCLAT orders resolution on Essar Steel bid by March 8
  • Sebi wants govt rethink on RBI representation on its board
  • NSE to introduce Brent Crude Oil futures contract on Mar 1
  • DBS to convert its India operations into wholly-owned subsidiary from Mar 1
  • 2018 best year for M&As as deal values rise 126% to $80 bn
  • Sodexo to increase focus on small and medium enterprises in India

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  • International Finance Corp to invest $165 mn in Bajaj Finance, Dodla Dairy
  • Infosys says Kiran Mazumdar-Shaw sold 1,600 shares without pre-clearance
  • Naresh Goyal agrees to step down as chairman of Jet Airways
  • Iran buys Indian sugar to ease its oil-money headache
  • LG India aims for 30% growth in commercial ACs this year
  • NIIF, CDC & Eversource Capital to invest $330 mn in Ayana
  • Lupin launches chronic angina treatment drug in the US
  • Future Group to bring 7-Eleven stores to India
  • Cabinet clears ₹10,000 crore FAME II scheme
  • RBI constitutes task force under Usha Thorat on offshore rupee markets
  • REC board approves borrowing limit hike,₹11 per share interim dividend
  • J&J allowed to resume baby talc production
  • Fraud-hit PNB ranks highest in implementation of ‘reforms agenda’ in 2018: Study
  • SBICap Ventures’ Neev Fund to invest $5 million in renewable energy firm Prespl
  • Essar Steel case: NCLT rejects plea from 8 operational creditors
  • From $6 billion to $1.8 billion: Govt revises down FDI inflows into chemicals drastically
  • Rupee recoups 52 paise to end at 70.72 per dollar
  • Kotak ties up with ADIA for USD 600 mn distressed assets fund
  • Increasing exports can lead to better jobs, higher wages in India: World Bank report
  • L&T Finance to raise up to Rs 1,500 cr via NCDs