Morning Business News Round Up_ Oct 5, 2018

  •   Image result for Govt cuts fuel pricesGovt cuts fuel prices by Rs 2.50 per litre
  •   Bio-CNG incentives to usher stubble based green projects
  •   Not resigning from Maruti board over IL&FS: Bhargava
  •   SUV, EV under Mahindra-Ford tie up soon
  •   Govt determined to contain IL&FS crisis: Jaitley
  •   Mayhem! Rs 3.31 lakh cr equity wealth wiped out
  •   RCom seeks 10 more days to settle Ericsson dues
  •   ICICI Venture in talks to buy stake in Micro Plastics
  •   IDBI Bank allots 339.9 mn preferential shares to LIC at Rs 61.73 apiece
  •   NBCC to float tenders to fast-track stalled Amrapali housing projects
  •   LIC makes open offer of Rs 126 bn to acquire 26% stake in IDBI Bank
  •   Bombay High Court rejects NSEL brokers’ plea on de-registration from Sebi
  •   RIL out of $100-bn club as market cap slips to $96.5 bn, TCS lone member
  •   MF’s AUM surges 14% to over Rs 24 trillion in Sept quarter
  •   Govt notifies 10% LTCG tax on IPO/FPO gains
  •   BSE, NSE to suspend trading in Moser Baer from Oct 11
  •   India, Russia to sign economic agreements, discuss rupee-rouble payment mechanism
  •   Gross direct tax collection grows 16.7% to ₹5.47 lakh crore in April-September
  •   Varun group buys Vizag’s Taj Gateway
  •   SC allows ArcelorMittal, Numetal to clear dues to stay in race for Essar Steel
  •   IL&FS appoints Vineet Nayyar as managing director
  •   OMCs to complete $10 bn overseas borrowing in 1-year: Finance Ministry
  •   Chanda Kochhar quits as CEO of ICICI Bank, Sandeep Bakhshi to take over
  •   Mukesh Ambani richest Indian for 11th consecutive year: Forbes
  •   Govt may extend term of GST anti-profiteering watchdog
  •  SEBI appoints KPMG, Grant Thornton, 5 other entities to conduct forensic audits of listed firms for fraud
  •   Cabinet nod: MSP for rabi crops raised by 2-21%
  •   India Services PMI: Services growth slows in September, two usual suspects make imports costlier
  •   Spot power prices soar to 10-yr high
  •   RoC to grill former IL&FC brass on fund management
  •   Strong US economy puts Asian currencies on skids
  •   Govt explores ways to cut imports, raise exports
  •   17% rise in H1 tax collection boosts govt
  •   Modi, Putin to ink $5.4b deal for S-400 air defence

Morning Business News Round Up_ Oct 3, 2018

  •   Image result for diesel vehicle banGovt to file review petition over diesel vehicle ban
  •   Troubles at NBFCs may help banks get back lost share
  •   PNB wilful defaulters’ dues fall to Rs 15,075 cr in Aug
  •   GST revenue likely to top Rs 1 lakh crore in Nov, Dec
  •   Ericsson row: RCom seeks 60 days more for payment
  •   40% power generation from non-fossil fuel by ’30: PM
  •   Agri export policy to be in sync with global rules
  •   RBI to buy Rs 360 billion worth of bonds in October to ease liquidity
  •   ONGC to wait for right price before offloading shares in IOC, GAIL
  •   Dr Reddy’s sells US antibiotics manufacturing facility to UAE’s Neopharma
  •   Govt mulls 100% FDI in insurance broking; insurers’ cap to stay at 49%
  •   Sugar makers rush to expand ethanol capacity; 114 applications approved
  •   UN calls for greater India role amidst global chaos
  •   Govt raises loan limit for MSMEs to over ₹1 crore
  •   Refiners weigh options to deal with oil price rally, upcoming sanctions on Iran
  •   Sops for skimmed milk powder exports come under WTO lens
  •   Earlier intervention by LIC might have helped
  •   Task cut out for Vodafone Idea as it moves to leverage synergies
  •   UPI transactions cross 400 million mark in September
  •   Former IL&FS directors write to Uday Kotak, extend support
  •   Task cut out for Vodafone Idea as it moves to leverage synergies
  •   Impact of rising crude oil prices on packaging cost of cement producers
  •   India Inc sees rise in credit quality pressure
  •   US dollar rises against most major currencies
  •   Walmart eyes 10% revenue from pvt labels, 30 stores by 2019
  •   Imposition of calamity tax with GST not advisable: CAIT
  •   Donald Trump threatens new tariffs on China, says no trade deal with Beijing
  •   Liquidity support lifts rupee government bonds
  •   Funds lean towards IT as finance sector faces turmoil
  •   NIM & liquidity issues of NBFCs to remain under control
  •   Yes Bank reveals part of Q2 results in exchange filing

Morning Business News Round Up_ Sep 28, 2018

  •   Sebi asks MFs for details on exposure to NBFCs
  •   India will continue to buy Iran’s oil: Iranian minister
  •   IL&FS Finserv misses loan repayments due this month
  •   Image result for PNBPNB approves proposal to raise Rs 5,431 cr from govt
  •   Commerce min forms panel on new foreign trade policy
  •   UCBs converting to SFBs must set up a public co: RBI
  •   Thyssenkrupp mulls separation of major biz
  •   Govt fights rupee drop as RBI takes steps to ease liquidity for banks
  •   Linking Aadhaar becomes mandatory for subscribers availing EPS benefits
  •   Govt may announce steps to boost exports, further curbs on imports: FinMin
  •   SBI to issue and encash electoral bonds from Oct 1 to 10, says FinMin
  •   RBI to meet large shareholders of IL&FS on Friday, discuss turnaround plan
  •  NCDEX starts clearing operations via subsidiary
  •   Centre to relax FDI regulations in food processing sector
  •   L&T’s power arm bags orders worth Rs 1,400 cr
  •   WTO slashes global trade growth forecast to 3.9%
  •   NMDC to commission Nagarnar coke oven unit, also steel plant
  •   UST Global acquires Bengaluru-based SeviTech Systems
  •  Bitcoin mining giant Bitmain reveals IPO plan
  •  Yes Bank erodes nearly half of its market value in five weeks
  •  Anil Ambani seeks to sell control of Reliance Communications
  •   Aavas Financiers share sale subscribed 97% on last day
  •   Spot power tariff climbs to 9-year high of ₹15.37 at IEX
  •   RBI eases cash reserve rules to ease liquidity
  •   Competition Commission penalises Esaote for unfair business ways
  •   French government rules out selling Air France-KLM stake
  •   DoT defers mandatory security testing of telecom gears till January 1
  •   DPE to issue advisories to PSUs to implement strategic HR practices
  •   RBI relaxes SLR norms to ease liquidity crunch
  •   5th tranche of electoral bonds sale from Oct 1
  •   Indian realty market set to touch $1 trillion by 2030
  •   Import duty on ATF not to make big impact on airlines

Morning Business News Round Up_ Sep 25, 2018

  •   Image result for Rupee rescue missionRupee rescue mission begins, oil purchases may be trimmed
    RBI study hints a rate hike in the next policy meet
    Electrosteel Steels board approves delisting of company
    Refusal to renew consent to operate bad in law: Vedanta
    Usha Martin seeks details on end-use of funds
    Yes Bank board to meet after RBI directive on CEO
    India may go for import curbs, gold to be spared
  •   India’s trade with neighbours only 31% of total potential: World Bank
    Govt extends deadline for filing I-T returns, audit report till October 15
    BofAML ups CAD forecast to 2.8% in FY19 on rising crude oil prices
    Revival of 45 bankrupt firms will meet 50% of lenders’ claims: IBBI chief
    Brent crude crosses $80 as OPEC rejects Trump’s call for oil output boost
    ‘Currency in circulation slows down since May’
    Iran oil: Experts see no possibility of US granting waiver for India
    NRC seeks shareholders nod to sell assets
    Bank loan fraud: ED to file charge sheet against Sterling Biotech promoters
    Infosys bags $62-m deal from Canadian govt
    Govt may opt to control retail fuel prices to cushion
    Sebi said to review DHFL, Yes Bank for trading irregularities
    India plans power sector mergers to raise ₹ 20,000 crore
    Ola in funding talks with Naspers at a valuation of $7-8 billion
    US, China impose fresh tariffs with no trade talks in sight
    High-level panel set up to resolve Ratnagiri refinery issue
    ED resisted bids to settle loans, says Vijay Mallya
  •   L&T Technology Services bags $40 million deal
    India to be USD 100 billion FDI destination by 2022: PHD Chamber
    Dena Bank approves merger with Bank of Baroda along with Vijaya Bank
  •   FM to review banks’ financial performance today
    Crude spike, RBI dollar selling slows currency in circulation
    India imports iron ore despite enough reserves
    Rana Kapoor may stay as whole time director of Yes Bank
    Government mulling merger of REC and PFC


Morning Business News Round Up_ Sep 24, 2018

  •  RBI’s eagle eye is on mkts, ready for action
  •  Govt mulls law to settle commercial disputes fast
  •  Image result for il&fsIL&FS crises not a Lehman moment for India: SBI Chief
  •  Over 40% cos surveyed expect RBI to hike rates: CII
  •  Oil India gets nod to raise up to Rs 7,000 crore
  •  China’s debt rises to USD 2.58 trillion
  •  Shadow banker in India rushes to sell assets
  •  Spectrum auction for 5G likely in later half of 2019: Telecom Secretary
  •  Sebi disposes ICICI’s submissions for overhauling its settlement rules
  •  BSE to move eight companies out of ASM framework from September 24
  •  McLeod sells 6 more gardens; courting Alibaba, others to sell tea online
  •  I-T department slaps ONGC Videsh with Rs 76.66-billion service tax demand
  •  Assets of nine CPSEs to be hived off before stake sale
  •  Commerce Ministry rues steep decline in export credit
  •  Tata Steel to pay at least ₹4,300 cr for Usha Martin steel arm
  •  PM unveils Ayushman Bharat; 50 cr to get health cover of ₹5 lakh
  •  Most companies upbeat about growth, business prospects in Q2, says CII report
  •  FPIs turn net sellers in September, pull out ₹15,365 crore so far
  •  Seven of top 10 Indian firms lose ₹89,779 crore in m-cap, RIL worst hit
  •  Over 40% firms feel RBI may further hike rates: CII survey
  •  Taiwan takes India to WTO’s safeguard committee on solar duty
  •  RBI shortlists Infosys, TCS, 3 other IT firms to implement CIMS
  •  Dutch firm Flytxt to invest Rs 250 cr in Kerala’s Technopark
  •  BSNL inks deal with Softbank, NTT to roll out 5G, IoT service
  •  Finance ministry officials to brief parliamentary panel on ponzi scheme bill
  •  Government to ‘soon’ curb on imports to bring rupee to 68-70 level against US dollar
  •  PNB, OBC, Andhra Bank next in line for merger
  •  Higher MSP to push up gold demand 25%
  •  RRBs’ number to be brought down to 36
  •  Trai rules out interference in telecom tariffs
  •  Broadband subscriber base widens 52%

Morning Business News Round Up_ Sep 21, 2018

  •  Government appoints 14 executive directors in banks
  •  SBI hopes to resolve 7-8 stressed assets by Nov 11
  •  Emirates, Etihad airlines deny report they may merge
  •  Infosys launches next-gen learning solution Wingspan
  •  Tata Steel celebrates its 100 years in the Netherlands
  •  BRICS bank approves $525-mn for infra projects in MP
  •  India’s economy to double in size to $5 tn by 2022:PM Modi
  •  Sebi norms for corporate bonds could boost issuances by Rs 500 bn: Crisil
  •  Image result for TVS Logistics ServicesTVS Logistics Services buys 51% stake in Chola’s WDSI for Rs 422 mn
  •  India to settle payments for Iranian oil using rupees starting November
  •  Sebi announces changes to the composition of credit rating agencies
  • Govt hikes interest rate on small savings by up to 0.4%
  •  NITI Aayog to make recommendations on proposed agriculture
  •  USGC asks India to allow ethanol imports to lower crude oil
  •  Chennai Petroleum cancels Iran oil imports
  •  SBI gets tough with ArcelorMittal over Uttam Galva dues
  •  E-commerce cos to deduct 1 pc TCS under GST from Oct 1
  •  ‘SBI not the right candidate to take over more banks’
  •  PowerGrid gets shareholders’ nod to raise up to ₹20,000 crore via bonds in FY20
  •  Petroleum products may not be brought under GST soon
  •  India considers raising steel import duty to support rupee
  •  Airtel, Reliance Jio, Sterlite Tech among bidders for Aircel assets
  •  Preventive vigilance better governance tool for public institutions, says RBI Governor Urjit Patel
  •  NCLAT wrongly allowed ArcelorMittal to pay dues after bidding for Essar Steel, NuMetal tells SC
  •  Steel import duty hike may widen CAD, hit engineering exports: EEPC India
  •  India Post invites proposal for consultancy on setting up insurance arm
  •  Asian firms’ confidence sinks to near 3-year low: Poll
  •  Fitch revises Tata Motors outlook to negative
  •  Global meet on sustainable trade and standards
  •  ITC Hotels acquires Park Hyatt Goa Resort
  •  SEBI passes on economies of scale of increasing asset size to investors

Morning Business News Round Up_ Sep 19, 2018

  •  China sets retaliatory tariffs on $60bn in US goods
  •  Prove charges against ArcelorMittal: SC to Numetal
  •  Govt may decide on 4G spectrum allocation by dec
  •  Daiichi intervenes in HDFC’s insolvency case
  •  Image result for reliance capitalReliance Capital to exit all non-financial business
  •  No settlement plea from ICICI Bank: Sebi
  •  LIC yet to seek open offer exemption for IDBI takeover: Sebi
  •  Sebi pares IPO listing time to 3 days from 6, clears UPI as payment option
  •  Cabinet to mull Rs 45-bn package for cash-starved sugar industry on Wed
  •  Huge debt in corporate balance sheets reason for stunted job growth: Birla
  •  Investment, not subsidies, will make farming self-sufficient: FM Jaitley
  •  Govt sees rupee at 72-73 against dollar as ‘fair value’: FinMin source
  •  PNB shareholders approve ESPS scheme; Rs 28 bn capital infusion by govt
  •  India delays retaliatory tariffs on US goods till Nov 2
  •  Lowering inflation is a major structural reform in India: IMF official
  •  SEBI shelves plan to extend equity trading hours
  •  HPCL on expansion drive with ₹60,000-cr capex
  •  5 firms interested in steel business of Usha Martin
  •  Govt plans hike in gold import duty to check rising CAD
  •  Sebi cuts mutual fund expenses, reduces listing time
  •  Sebi approves KYC norms for FPIs, new settlement mechanism
  •  Rupee closes at all-time low of 72.97 a dollar
  •  RCom to exit telecom fully to focus on realty: Anil Ambani
  •  Nestle, Unilever, Coke make bids in $4 billion-plus GSK India sale: report
  •  Tesla facing US criminal probe over Elon Musk statements
  •  Sebi mulls reaching govt for powers to intercept calls, messages of economic offenders
  •  Insurance companies to pay 12% interest to farmers in case of delay in settlement claims
  •  Crisis-ridden IL&FS under regulatory scanner for alleged corporate governance, disclosure lapses
  •  Low procurement: Early kharif crop prices below support price levels
  •  CCI imposes Rs 38cr penalty on 18 sugar mills, 2 industry bodies
  •  NSE files consent application in co-location case
  •  Trai consultation paper on fiberisation soon
  •  PFC files insolvency plea against ex-Indiabulls
  •  Petrol, diesel rates scale new highs after a day’s break

Morning Business News Round Up_ Sep 17, 2018

  •  Sebi to seek powers to intercept phone calls & msgs
  •  Govt may auction power contracts with coal supplies
  •  NCLT/NCLAT should refrain from insolvency matters: SC
  •  Indian PSUs scouting for oilfields in Russia: Pradhan
  •  IL&FS puts corporate headquarters on the block
  •  Dairy action plan requires Rs 51,077 cr, says minister
  •  Fear of telecom cartelisation ‘unfounded’: COAI
  •  Image result for E-commerceE-commerce players to pay up to 2% TDS from October
  •  Managerial positions remuneration fixation freed from govt approval
  •  New standing committee of secretaries on e-commerce starts deliberations
  •  Hindustan Power looking to acquire stressed thermal power plants
  •  NCLAT order slipped up on clearance of dues, says ArcelorMittal
  • EIL to bid to buy out govt stake in PDIL
  •  Centre provides ₹ 440 cr to NDDB
  •  Zydus Cadila gets USFDA nod to market osteoporosis drug
  •  Pawan Hans stake sale: Govt extends deadline for initial bids
  •  Voltas forays into home appliances segment
  •  SEBI may consider proposal to allow foreign entities in commodity markets
  •  Trai decides to reduce scope of regulation for WhatsApp, Skype
  •  PE investments in August at lowest in 6 months, buyouts on rise: report
  •  Producers plan legal battle after GST rate for solar power projects fixed at 18%
  •  Diageo looks at small towns to grow premium scotch portfolio
  •  Railways eyes ₹15,000 crore in 10 years from non-fare revenue
  •  SC observation: ‘NCLT must not step in at every stage
  •  PNB branch issued unauthorised LoUs worth Rs 6,498 cr to three Nirav Modi firms, finds SFIO
  •  Atlas Copco India to focus on industrial business
  •  Four states show interest in buying power sans PPAs
  •  Ben Bernanke admits Fed made mistakes combating financial crisis 10 years ago
  •  Bank credit rose by 13.49%; deposits by 8.9%
  •  CIL may shut 53 mines on safety grounds
  •  Jivi Mobiles to make smartphones, to invest Rs 100 cr on facility
  •  Sebi seeks power to intercept calls of economic offenders
  •  111 more brokers under Sebi lens for role in NSEL scam

Morning Business News Round Up_ Sep 12, 2018

  •  RBI nominee should not be on PSU boards: Rajan
  •  Choksi diverted over Rs 3,250-cr to foreign shores: ED
  •  RBI gave a list of big fraud cases to PMO: Rajan
  •  US to probe M&M over Fiat Chrysler Jeep complaint
  •  Image result for ibbiIBBI working on group insolvency norms: MS Sahoo
  •  Doubling limit for DRT may expedite loan recovery
  •  National Fund set to buy IDFC infra debt fund
  •  Regulatory policies pose top risk to India Inc: Study
  •  Power NPAs: SC transfers all pleas challenging RBI notification to itself
  •  Suzlon to offload 49% stake in two solar projects in Maharashtra to CLP
  •  Reliance Capital posts Rs 2.72 bn profit in Q1, total income at Rs 46.41 bn
  •  I-T dept sells more shares of Cairn Energy to recover Rs 102 bn retro tax
  •  ArcelorMittal’s raised offer for Essar Steel plunges shares by 2.6%
  •  Centre to invite proposals to set up NBFC for food processing sector
  •  Panel of secretaries reviewing e-commerce draft to focus on FDI
  •  Real Effective Exchange Rate slips to 114.5 in August on falling rupee
  •  Goodricke in talks to buy two tea estates from McLeod
  •  HCL Tech’s buyback offer to start on Sep 18
  •  BPCL to skip Iran oil purchases in October
  •  Tata Power to offer suite of services in rooftop solar drive
  •  RBI nominee on PSU boards create illusion of regulatory control: Raghuram Rajan
  •  Distancing govt from PSBs will help avert NPAs: Rajan
  •  Reliance Jio to use Hughes satellite to provide 4G services in remote, rural areas
  •  Vijay Mallya to return to UK court for extradition hearing
  •  Ind-Ra downgrades IL&FS Financial Services on liquidity pressures
  •  Yes Bank raises USD 400 million through syndicated loan facility
  •  Blaupunkt to invest USD 300 million in India on TV business
  •  Corruption costs $2.6 trillion or 5 per cent of global GDP, says UN chief Antonio Guterres
  •  SC to hear ArcelorMittal plea against NCLAT order today
  •  Passenger vehicles sales skid 2.46% in August
  •  PSBs asked to set up one platform for sale of defaulters’ assets
  •  Rs 4L cr investor wealth wiped off in two days

Morning Business News Round Up_ Sep 11, 2018

  •  Govt may allow cos to sell oil & gas to affiliates
  •  Over-optimistic bankers responsible for NPA: Rajan
  •  Govt says no to excise relief for fuel prices
  •  Related imageArcelorMittal submits revised bid for Essar Steel
  •  Rupee not to go in for free fall: Raghuram Rajan
  •  Last date for July-Sep GSTR-1 extended till Oct 31
  •  India wants trade deal with US: Donald Trump
  •  Rupee: Govt in touch with RBI for mkt intervention
  •  Sebi mulls allowing NRIs through FPI route after meeting specific KYC norms
  •  SBI’s plans to raise dollar funds through green bonds’ issue put on hold
  •  TGBL consolidates overseas operations as one unit, exits non-core market
  •  Debt MFs see outflow of Rs 68 bn in Aug on weak rupee, rising oil prices
  •  NCLT notice to Jaiprakash Associates over ICICI Bank claim of Rs 12 bn dues
  •  Centre pegs CAD for FY19 at 2.5% of GDP
  •  Brexit augurs well for India-UK trade talks: Graham Stuart
  •  Tata Motors global sales up 14% in August
  •  Group of secretaries on e-comm to meet on Sep 13
  •  India is the brightest spot for steel sector till 2019: Moody’s
  •  SpiceJet to launch first dedicated air cargo service on Sept 18
  •  India is standing still as global trade changes
  •  BSE, PTC, ICICI to set up power exchange
  •  Kalpataru in deal with Indian Hume Pipe to develop 15 acre Pune land
  •  GIC, Abu Dhabi Investment, Canada’s pension board in race to pick 25% stake in Reliance Home Finance
  •  Rupee closes at record low, bond yield spikes 13 bps as CAD widens
  •  Aadhar Housing Finance to raise up to Rs.1,400 crore via NCDs
  •  Sensex tumbles 468 points, Nifty ends below 11,450 after rupee crashes to 72.67/$
  •  Forging industry sees 20 percent cost rise on high power tariff: AIFI
  •  JSW Steel crude steel output grows 8% in August
  •  India’s economic growth to slow in second half of this fiscal, says UBS report
  •  Suppliers liable to pay penalty for not passing GST rate cut benefits: NAA
  •  India’s economic growth to slow in H2 of FY19, says UBS
  •  Gail, EIL, Concor to make way for new PSUs in CPSE ETF
  •  Global economic growth returns, but issues still remain