Morning Business News Round Up_ Sep 4, 2018

  •   Currency volatility to have ‘limited impact’: Fitch
  •   Banks with over 10 branches to have IO: RBI
  •   RBI unions withdraw mass casual leave plan
  •   Anil Agarwal succeeds with Vedanta Resources buyout
  •   Sebi’s income rose 25% to Rs 752 crore in FY17
  •   NCLT approves 1:10 swap ratio for ICEX, NMCE merger
  •   Investors’ complaints hit 6-year high of 43,000 in FY18
  •   Falling rupee to keep base metals costlier in India despite global lull
  •   Tepid use of funds accruing to NMET slows down mineral exploration
  •   Image result for Allahabad BankAllahabad Bank to raise about Rs 15 bn via disinvestment in non-core assets
  •   10-yr bond yield touches 8%, Rupee hits record low of 71.18 against dollar
  •   Govt allows state refiners to use Iran tankers, insurance for oil imports
  •   About 1,800 businesses apply for migration to GST regime
  •   Domestic airlines may post higher losses at $1.90 b: CAPA
  •   L&T Construction bags orders worth Rs 2,654 cr from MSRDC
  •   Relief in sight for Adani, Tata and Essar’s Gujarat power projects
  •   R-Infra wins Rs. 200-cr arbitration award against NHAI
  •   India manufacturing PMI eases in August on softer domestic demand
  •   DLF to invest over ₹ 1,400 crore in Gurugram project
  •   Vijay Mallya gets 3 weeks to file reply on ED’s plea
  •   Jindal Steel & Power studies breakup as ₹42,000 crore of debt weighs
  •   LIC board to meet tomorrow to decide IDBI Bank stake hike plan
  •   Manipal to pick up minority stake in Cigna TTK Health Insurance
  •  RBI data: Loan defaults by MSMEs doubled in last fiscal
  •  Icra keeps ratings of IDBI Bank’s bond programmes under watch
  •   Vodafone Idea raises Rs 1,500 crore via debt
  •   SBI responds to Singapore govt initiative with remittance centre
  •   Govt appears committed to fiscal discipline, consolidation
  •   Exclusive zero-debt club shines as others fight corporate debt
  •   Focused on inflation targeting, Patel took Rajan policies forward
  •   Rubber production-consumption gap widens to 58% in Q1FY19

Morning Business News Round Up_ August 30, 2018


  •  Related imageSupply risks building, crude oil can hit $80 a barrel
  •  DeMo achieved objectives quite substantially: Govt
  •  Airtel shareholders approve merger proposal with Tata
  •  Varde, Birla are said to create $1 bln joint venture
  •  Indian Oil earmarks Rs 22,000-crore capex for FY19
  •  Nalco pays record dividend of Rs 1,102 cr for FY18
  •  ‘Awaiting banks’ reply on Reliance Naval resolution plan’
  •  Almost all of demonetised currency came back; 99.3% returned, says RBI
  •  ICICI Bank tells Sebi it was unaware of conflict of interest
  •  Anil Ambani’s RInfra completes sale of Mumbai power assets biz to Adani
  •  Centre to ask Johnson & Johnson to pay up in hip implants case
  •  RBI urges govt to expedite reforms for twin balance sheet problem
  •  NCLAT admits Mistry’s plea against NCLT order upholding his removal
  •  Rupee slides 49 paise to end at record low of 70.59 vs dollar
  •  MUDRA launches major impact study of loans to SMEs
  •  Lanco Babandh faces insolvency proceedings; NCLT appoints IRP
  •  To reduce debt, IL&FS to go for Rs.4,500-cr rights issue, divest assets
  •  LIC Board to meet on 4 September to decide modalities for raising stake to 51% in IDBI Bank
  •  Aston Martin makes long-awaited move for IPO in London
  •  Disclose names and action taken against wilful defaulters: CIC
  •  Aditya Birla, Varde to set up $1 billion JV to buy stressed assets
  •  Tata Power-backed Resurgent set to buy 75% stake in Prayagraj
  •  Stressed power assets: Panel to discuss ARC, no fiat to RBI under Section 7
  •  IOC to invest Rs 286 crore to expand LPG bottling output in north-east India by 2020
  •  Financial fraud: Ministry of corporate affairs to crack down on firms
  •  All realty projects to eventually come under RERA ambit, says minister
  •  Nomura pegs total stressed assets at Rs 16.30 lakh cr
  •  India remains preferred destination for FDI
  •  Principal buys out Punjab National Bank in AMC
  •  Wipro bags multi-year deal with Denmark company
  •  FPIs pullout $280m, DIIs pour $10b so far this year
  •  Electrosteel Steels trade at wide gaps on bourses
  •  Vedanta corners 41 oil blocks in OALP Round-1

Morning Business News Round Up_ August 27, 2018

  •  Sebi plans to deploy technology to beef up surveillance activities
  •  40% districts in S India received deficient rainfall: IMD
  •  GE Power to shut Gujarat plant from today
  • Image result for  PSU banks PSU banks plan closure of 70 overseas offices this FY
  •  Big willful defaulter dues to PNB drop to Rs 15,175 cr
  •  Fed’s Bullard warns of recession risk in raising rates
  •  Court to hear Mallya case under new fugitive law today
  •  Sebi is working on a special policy to ensure data privacy for investors
  •  SAIL prepares to exit non-operational, non-performing joint venture firms
  •  Govt to make it mandatory for unlisted cos to issue shares in demat form
  •  Bankers burning midnight oil to resolve Rs 3.8 trn NPAs before deadline
  •  Co-working firm Awfis eyes aggressive expansion after fund infusion
  •  Rupee fall no macro worry, was long overdue: Panagariya
  •  Tax authorities left high and dry in IBC cases
  •  Five of 10 most valued firms add Rs 65,000 cr in m-cap
  •  FPIs stay bullish on India; pour in Rs 6,700-cr in Aug
  •  SEBI looking at cutting expense rate of MFs, says top official
  •  Sundaram Finance Q1 net up by 25.9%
  •  Corporate affairs ministry seeks details from crisis-hit Jet Airways
  •  Liberty House plans to turn ABG Shipyard into steel plant
  •  Listed preference shares held for 12 months qualify for LTCG
  •  Shubh Loans raises $4.2 million from Saama Capital, others
  •  51,837 industries in Delhi under National Green Tribunal scanner
  •  Jet Airways staff association flags concerns; seeks clarity on airline problems
  •  Panel reviewing penal provisions under Companies Act likely to submit report this week
  •  Anil Ambani resigns as director of Reliance Naval and Engineering
  •  Asset quality concerns at PSBs seem to be fading away
  •  Companies Act review panel report likely this week
  •  Plans to monetise PSUs’ assets put on back burner

Morning Business News Round Up_ August 24, 2018

  •  Related image Moody’s puts India growth in 2018, 2019 at 7.5%
  •   Govt imposes standard EC conditions for 25 sectors
  •   Sebi calls for reduction in TER, more competition in MF sector
  •   L&T board approves buyback of shares Rs 9,000 cr
  •   Britannia Industries to split stock in 1:2 ratio
  •   RIL first Indian co with Rs 8 lakh cr m-cap
  •   Ruchi Soya lenders approve Adani Wilmar’s Rs 6K cr bid
  •   R-Infra defaults on Rs 1.33-bn NCDs, to pay after Mumbai distribution deal
  •   STT on physically-settled derivatives: HC defers hearing in Anmi-NSE matter
  •   Trade war: US, China slap 25% tariffs on $16 bn of each other’s goods
  •   Reliance Power wins $56-mn arbitration award in Indonesia coal mine dispute
  •   Tata Sons to invest Rs 12.5 bn in Tata Capital as equity by March 2018
  •   RCom gets Rs 2,000 cr from sale of MCNs, infrastructure assets to RJio
  •   Deadline to export sugar extended by 3 months
  •   Force Motors to buy Pithampur plant of VW group co MAN Trucks
  •   Cognizant has acquired SaaSfocus
  •   New Industrial Policy to focus on jobs, push tech use, cut red tape
  •   Donald Trump predicts stock market crash if he’s impeached
  •   51% investors withdraw from equity funds within a year
  •   NDMC relaxes eligibility criteria for Taj Mansingh auction
  •   Chanda Kochhar probe report to be out in two-and-a-half months: ICICI
  •   Nestle India: Noodles good, coffee better in first half of 2018
  •   Former RBI Governor for doing away with dual control of PSBs
  •   Global recycled lead battery market to touch USD 12 billion by 2022
  •   Arun Jaitley resumes charge as Finance Minister after a 3-month hiatus
  •   MF AUM to double to Rs 50L cr in 5 years: Deepak Parekh
  •   AB-NHBM is credit positive for insurers, says Moody’s
  •   SMEs urge govt for tax relief in pre-GST cases
  •   Govt puts curbs on pvt cos for export of beach sand minerals

Morning Business News Round Up_ August 23, 2018

  •   Finmin warns PSU bank CEOs to check NPA frauds
  •   US-China trade war hits $100 billion in goods
  •   Govt imposes restrictions on import of bio-fuels
  •   ‘Global pension & sovereign funds keen on India’s REITs’
  •   Air India grappling with unsustainable debt: Prabhu
  •   Jet to take up turnaround plan in Monday board meet
  •   Colgate-Palmolive picks Bombay Shaving Company
  •   Sebi planning to add more stocks to additional surveillance mechanism
  •  Image result for tech mahindra Tech Mahindra to acquire Czech-based firm Inter-Informatics for Rs 80 mn
  •   Domestic manufacturing of mobile handset saved India Rs 3 trillion: Study
  •   Reliance General Insurance Q1 net profit up 30% to Rs 570 million
  •   Coal India likely to get a five-year breather on production target
  •   NSEL case: High Court panel confirms claims of only Rs.650 crore
  •   PMO steps in to allay concerns over e-commerce policy draft
  •   Strides receives acceptance from USFDA for two ANDAs
  •   CCI clears UltraTech’s purchase of Century arm
  •   Likely drop in kharif harvest a big worry
  •   Recession likely in three years, says Pimco
  •   Govt sets ball rolling for stake sale in NBCC, HUDCO
  •   US businesses against new tariffs on Chinese goods
  •   P&G June-quarter net profit drops 43% on higher promotional expenses
  •   Coal India’s CCL says 17 coal mining projects facing delays
  •   Small renewables firms fighting consolidation wave
  •   DIPP okays proposals to upgrade effluent treatment plants, FDDIs
  •   SBI expects Q1 GDP growth at 7.7 per cent
  •   US imposes preliminary anti-dumping duties of over 50% on metal pipes made in India
  •   Deluge may cull Kerala economy by 100 bps, says report
  •   Sebi says OPG gained Rs 25 cr from preferential access to NSE server
  •   India Inc may find loans abroad costlier as easy money ends
  •   LIC will be asked to speed up IDBI Bank acquisition process
  •   Gold jewellery exports up 220%, gold bar imports leap by 302%

Morning Business News Round Up_ August 16, 2018

  •  Note-ban, GST hit household savings rate: Report
  •  NPCI blames Cosmos Bank for Malware attacks
  •  RBI puts 200 stressed account under scanner
  •  Jio opens fibre based broadband registration
  •  Blackstone may pick stake in Jet Airways’ loyalty arm
  •  Image result for pesticidesGovt bans 12 pesticides with immediate effect
  •  RBI rejects Kotak Bank’s plan for dilution of stake
  •  Indirect tax base has surged 65% to 11.6 mn since GST roll-out: PM Modi
  •  Sebi eyes framework for timely disclosure of loan defaults by listed firms
  •  Aluminium, Copper twin triggers for Hindalco, Novelis a key positive
  •  Reliance declares force majeure on gasoline exports from Jamnagar: Report
  •  GMR Infrastructure Q1 net loss widens to Rs 2.35 bn; income at Rs 16.5 bn
  •  India to be engine of world growth for three decades: PM
  •  CBDT plan to incentivise ‘quality orders’ worries trade
  •  Positive growth in steel sector to continue: Tata Steel
  •  NTPC to set up subsidiary for coal mining soon
  •  Uflex Q1 net flat-lines at Rs.94.36 crore
  •  Patanjali to launch messaging app Kimbho on Aug 27
  •  Sun Pharma’s US business peeps out from clouds in Q1
  •  Agri export policy to prepare farmers for global market: Modi
  •  Canara Bank to hire social media agency for customer outreach
  •  Sun Pharma’s US business peeps out from clouds in Q1
  •  Pending investor grievances drop 16% till FY18 end
  •  Government invites fresh EoIs for 100% stake in Pawan Hans
  •  Allahabad Bank posts Rs 1,944-cr Q1 net loss on higher provisions
  •  Pressure on current account deficit: Trade deficit hits the 62-month high in July
  •  Spectrum auction to be taken up on August 31
  •  Turkey increases tariffs on some US goods, escalating feud
  •  FinMin mulling auction of some stressed power assets
  •  Govt may stick to gilt buyback plan in H2
  •  JSW outbids rivals with Rs 19,700 crore offer

Morning Business News Round Up_ August 14, 2018

  •  CPI cools to 4.17% in July, down from 4.9% in June
  •  Image result for tata steelTata Steel Q1 profit doubles to Rs 1,954 crore YoY
  •  Tata Sons to sell Rs 11,500 cr shares in TCS buyback
  •  Indian firms lag compliance of EU data protection rule
  •  Tata Steel submits revised bid for Bhushan Power
  •  CCI okays Adani Wilmar’s acquisition of Ruchi Soya
  •  Iran offers Asian buyers cheapest oil in 14 yrs
  •  Sebi’s FPI norms may jeopardise billions of dollars from offshore funds
  •  Jet Airways, rating agencies come under regulatory scanner over lapses
  •  Sebi mulls steps to prevent misuse of clients’ securities by stock brokers
  •  Bombay HC directs CBDT to reply on STT on physically-settled derivatives
  •  Tata Chemicals Q1 profit up 14% to Rs 2.69 bn; debt slips to Rs 15 bn
  •  Ambiguity in Jet Airways’ loan status
  •  Cadila picks up 51% stake in Windlas Healthcare
  •  Steel-makers seek 40% export duty on graphite, removal of dumping duty
  •  Ramky Enviro Engineers to invest Rs.2,500 cr in new projects, expansion
  •  IndianOil to invest over Rs.20,000 cr in city gas biz
  •  ‘NSE’s May 24 trading errors due to tech glitch’
  •  Rupee plunges to record low, closes near 70 a dollar
  •  Telcos to seek fresh dialogue on scrapping interconnect charges
  •  EIL to invest Rs 700 crore for LPG terminal at Okha
  •  Wipro, ITC, Cadila take lead in race to acquire Complan
  •  BSE seeks further clarification from Jet Airways over deferred results
  •  India may not reach 100GW solar target by 2022: report
  •  Incumbent telcoms’ profit halve in 3 years, margins fall 1,000 bps
  •  SBI ranked as India’s most patriotic brand: Survey
  •  RBI backs proposal to form asset reconstruction firm to salvage power sector stressed assets
  •  Wilful defaulters, economic offenders may not settle a case, suggests Sebi panel
  •  IOC hopes to get Iranian investment for CPCL refinery
  •  RCom reinstates Rs 774 crore bank guarantees with DoT
  •  No safeguard duty on solar cells for now, says FinMin
  •  Household savings hit slowest pace, drop 20%
  •  Turkey attempts to calm markets as crisis deepens

Morning Business News Round Up_ August 13, 2018

  •   IBC has put recovery process on fast track: Ficci Survey
  •   Over 200 rail projects report Rs 1.82L cr cost overrun
  •  Related image BPCL gets green nod for ethanol project in Odisha
  •   SBI to sell two NPAs worth Rs 2,490 crore
  •   PVR to buy SPI cinemas in deal valued at over Rs 850cr
  •   Adani walks away with gas rights for 21 cities
  •   Govt draws up new bailout plan for Air India
  •   PSBs to be recapitalised in Q4 FY19, exercise linked to progress on reforms
  •   GVK plans to raise Rs 135 billion for Navi Mumbai airport project
  •   Manufacturing sectors with high production growth rose in Q1: CII
  •   Investors want higher price in Fortis open offer; IHH unlikely to oblige
  •   Indian Oil posts 50% jump in quarterly profit as refining margin doubles
  •   India’s economic growth to improve in coming quarters: CII-ASCON
  •   No GST on fortified toned milk, but treatedtamarind kernel powder to attract 5% tax
  •   DGCA to conduct financial audit of Jet Airways
  •   RCEP trade ministers to meet on Aug 30-31 in Singapore
  •   NBCC standalone net at Rs.67.66 cr
  •   Hindalco to pre-pay Rs.3,000-cr debt this fiscal
  •   Saudi Arabia fund in talks to invest in Tesla buyout deal
  •   Rafale deal from Dassault, not defence ministry: Reliance Group
  •   India Cements Q1 profit falls 34% to ₹26 crore
  •   Tata Motors global sales fall 5% in July
  •   Monsanto fined $289 million in world’s first Roundup cancer trial
  •   FinMin unlikely to heed RBI’s demand for greater power over PSU banks
  •   Auto industry raises concerns over proposed changes in import regulations
  •   RBI net sells USD 6.184 bn of US currency in June
  •   DCM Shriram to invest Rs 1,300 cr to expand sugar, chemical business
  •   FPIs infuse Rs 8,500-crore in capital markets in just 8 trading sessions
  •   FY19E earnings likely to grow by 22.8%
  •   Sebi seeks to make MFs more cost effective
  •   Coal India pushes back output target
  •   More education loans turn ‘bad’ in three fiscals
  •   CPSEs to soon monetise assets, SAIL, NTPC to take lead

Morning Business News Round Up_ August 9, 2018

  •  First round of US tariffs on China to hit $50 bn Aug 23
  •  Walmart’s $16-bn acquisition of Flipkart gets CCI nod
  •  CCI gives nod to Tata Steel-Bhushan Power & Steel deal
  •  RBI to transfer Rs 50,000 crore surplus to govt
  • Image result for per capita income logo India’s per capita income rises to Rs 80,000
  •  PNB in talks with I-T dept to sell erstwhile HQ
  •  Shortage of long product steel hurting EPC companies as cost goes up
  •  NHAI suffers Rs 4-bn loss on non-recovery of damages from realty developers
  •  IMF warns India over PSBs, advocates privatisation
  •  Ahead of LIC acquisition, IDBI gets nod to lower govt stake to under 50%
  •  Sebi set to tackle cyber security breaches, deploy data analytics
  •  NSE keen to set up spot gold exchange: Limaye
  •  India heading for a lower tea output as H1 output falls 5%
  •  ICICI Bank issues over 1 million FASTags
  •  HPCL Q1 net surges 86% to Rs. 1,719 cr
  •  TCS in talks with Infosys, Wipro to sell its automation software
  •  HPCL winds down Iran oil supply as US-led sanctions inch closer
  •  RBI cancels licences of 368 NBFCs in first half of 2018
  •  HDFC MF juggles its schemes and thumbs its nose at Sebi
  •  Govt to set up 25,000 MW solar project in Ladakh
  •  Samsung lines up $22 bn spending for new tech
  •  Fonterra, Future Group announce joint venture for Indian market
  •  Mumbai BPCL fire: Refinery’s hydrocracker unit shut, 40 injured
  •  Supreme Court warns Amrapali group not to play smart with court
  •  NDTV Q1 net loss narrows to Rs 2.88 crore
  •  Government may release second draft of e-commerce policy in a fortnight
  •  IMF says RBI needs to gradually tighten monetary policy due to these 3 key concerns
  •  Banks have limited ability to support high credit growth
  •  Pressure builds on UK Labour to back second Brexit referendum
  •  Plan to cap medical devices margin at 30% nags industry
  •  NSE in fresh talks with Sebi to resolve co-location case

Morning Business News Round Up_ August 7, 2018

  •   Image result for HULHUL to acquire K’taka-based icecream brand Adityaa
    Buffett’s $111 bn cash pile intensifies buyback debate
    India a key market for portfolio transformation: Nooyi
    DoT amends licence conditions for net neutrality rules
    RCom to complete Rs 25K-cr assets sale by Aug-end
    HDFC Bank raises fixed deposit rates by up to 0.6%
    10% below-normal rainfall hits sowing of kharif crops
  •   Risks to macroeconomic stability from trade war
    No GST refunds for foreigners as of now as there is no provision:      FinMin
    Bank of Baroda puts Rs 28 billion non-fund exposure under watch list
    Mukesh Ambani’s Reliance acquires 5% stake in Eros International Plc
    Nestle explores inorganic growth route to expand product offering
    Maggi hits 60% market share, touches pre-crisis level in value terms
    Land acquisition: Govt to credit amount directly to owner’s a/c
    Britannia Industries to invest Rs 300 cr in dairy business
    HDFC AMC stocks spurt 58% on debut
    At 3.5 lakh tonnes, sugar exports way off target
    Arvind Ltd’s standalone net down 20% at Rs 64 cr in Q1
    US sanctions on Iran cast shadow on Indian exports
    Restore LoUs at the earliest with proper safeguards, RBI told
    Automobile industry planning ₹ 58,000 crore capex in 2 years
    IFC to invest $25 million in Mahindra Rural Housing Finance
    BPCL to shut Bina refinery for 45 days from mid-August
    Adani Power Q1 net loss doubles to Rs 825 crore
  •   Trump tariff fallout: India becomes steel dumping ground; imports from China jump 67%, Japan 47% and Korea 35%
    L&T construction arm bags orders worth Rs 1,296 crore
    Government sets up two task force for making aircraft, UAVs
    Government likely to raise import duty on 300 textile products to boost domestic manufacturing, employment
  •   Britannia proposes stock split, bonus debentures
    Regulate global proxy advisers: Uday Kotak
    SMP exports dip to 4% from 65% in 4 years
    Vehicle scrap policy to see more consultations: Gadkari
    Steel majors’ buying of stressed assets to boost consolidation