Morning Business News Round Up_Nov 25,2019

Morning Business News:

  • JV plans: SAIL awaits ArcelorMittal response
  • CAIT levels tax avoidance allegations on comm cos
  • Aurobindo Pharma aims to become debt free in 3 yrs
  • BPCL asked to submit a valuation of the company in 50 days
  • NTPC likely to issue green bonds to raise funds
  • Sebi plans to implement data analytics project
  • ECL Finance’s NCD Tranche II oversubscribed
  • Govt to amend IBC to ring-fence buyers of stressed assets from prosecution
  • Karvy group’s liquidity to stay stretched over the medium term: CRISIL
  • Airtel, RIL, three others may submit bids for RCom assets on Nov 25

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  • Govt’s privatization plan may end complex cross-holding in oil PSUs
  • RCom lenders reject the resignation of Anil Ambani, 4 other directors
  • Key WTO body may become dysfunctional from Dec 11
  • PSUs need a roadmap for growth, exports: CII report
  • Post-Brexit, India can use Ireland as the window to EU: Envoy
  • Government to consider cut in reserve price of rice
  • USFDA red flags Torrent Pharma’s US-based plant for manufacturing violations
  • India’s PSUs should bid for international projects as a consortium: Report
  • ETFs funds account for 82% of selloff proceeds: DIPAM
  • FPIs pour ₹17,722 crores into Indian markets in November so far
  • After Jet’s demise, Lufthansa plans to strengthen partnerships with AI, Vistara
  • India’s gold imports dip 9% in April-October period
  • Amar Ujala bets on healthcare; acquires a majority stake in Cygnus Medicare
  • ISPAI seeks legal view on DoT’s demand for statutory dues; says order unnecessarily imposed on ISPs
  • Monetary Policy Committee to be split on rate cut decision
  • Gold imports dip 9 percent during Apr-

Morning Business News Round Up_Nov 22,2019

Morning Business News:

  • Economy to stay at low ebb in Q2 says ICRA
  • Niti Aayog asks India Inc to assess CSR impact
  • PSU banks disburse Rs 2.52 lakh crore loans in October
  • SBI MF to be listed within the next 2 years: CEO
  • India Inc’s M&A deal value slips 45% in Oct: Report
  • BPCL, Concor sale to fetch $15-20bn: Mukherjea
  • SBI admits to making many poor commercial decisions
  • Sony in talks to buy a stake in Mukesh Ambani’s Network18 TV media group
  • UTI MF eyes Rs 10,000 cr valuation in IPO, 25%-30% stake to be on sale
  • Buyers may turn their back on DHFL over KPMG audit report concerns
  • NTPC may shell Rs 10,000 crore for Centre’s stake in NEEPCO, THDC: Report
  • Plastic exports likely to remain flat in FY20 due to economic slowdown
  • Zee promoters sell 16.5 percent stakes to repay loans

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  • Laurus Labs gets 3 USFDA observations in API product inspection
  • JSW group promoter Sajjan Jindal repays ₹200-cr debt
  • USFDA approves Zydus Cadila’s Dinitrate tablets, Desonide Cream
  • Expression of interest invited for resolution of KSK Energy
  • Tech Mahindra, Business Finland ink MoU for R&D in 5G, 6G technology
  • No more amendments to the Motor Vehicles Act: Govt
  • Saudi Aramco order book reaches 73 billion riyals so far
  • Drugmaker Sanofi said to weigh options for $30 bn consumer-health business
  • State-run banks disburse over ₹2.5 tn in October: FinMin
  • OECD trims global 2020 economic growth forecast
  • Government to set up a unified regulator for IFSC
  • Govt may offer relief on AGR if Airtel, Vodafone Idea, other telcos get a reprieve from SC
  • LCR frameworks will improve NBFCs’ liability profile: Ind-Ra
  • Sensex ends 76 points lower; Nifty below 12,000
  • Realty sees 115 insolvency cases, $1 billion stressed deals
  • US Fed members unanimously reject negative rates: Minutes
  • Sundaram opens feeder FoF of Global Advantage Fund

Morning Business News Round Up_Nov 21,2019

Morning Business News:

  • Sebi tightens disclosure norms on loan defaults
  • MFs will join DHFL resolution process: Sebi chief
  • Bank credit grows by 8.07%, deposits 9.92%: RBI data
  • Housing projects worth $66 bn face IBC proceedings
  • Govt mulls forex loan at a cheaper rate to exporters: Goyal
  • BSNL-MTNL merger may be completed in 2 yrs: Govt
  • Govt clears Code on Industrial Relations Bill; retrenchment norms not eased
  • Cabinet approves the strategic sale of govt stake in BPCL, 4 other CPSEs
  • Subhash Chandra to sell 16.5% stake in Zee, become a minority shareholder
  • Tariff hike may cause slower net user addition for telcos: BofA-ML report
  • Piramal gets a waiver on debt contract after offering to pay Rs 15 bn early
  • Telecom, aviation, auto sectors report the highest losses in Q2

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  • Better rainfall led to lower power demand in October: Power Ministry
  • CIL to develop 55 new coal mines in the next 5 yrs: Minister
  • The company continuously working on a resolution plan: Suzlon
  • ECU Worldwide buys controlling stakes in Hong Kong and Singapore logistics firms
  • Singapore’s Cube wins highways bid
  • Cabinet approves a two-year moratorium on spectrum payments for telcos
  • Tata Motor’s JLR to face challenging times even in next fiscal: Moody’s
  • Asia needs $800 billion over the next decade to feed itself
  • Homebuyers have filed over 1,800 cases under insolvency law: Govt
  • NCLAT extends the deadline for implementation of Patanjali’s bid for Ruchi Soya
  • Central American nation Costa Rica seeks Preferential Trade Agreement with India
  • China cuts new benchmark rate to boost the economy
  • NCLAT rejects DBS Bank’s plea challenging the distribution of funds from Ruchi Soya resolution plan
  • India appeals against WTO panel ruling on export incentive schemes
  • Reserve Bank of India supersedes DHFL board
  • Rupee settles 10 paise lower at 71.81 against US dollar
  • Moody’s assigns Baa1 rating to ONGC’s proposed senior unsecured notes
  • Telcos have to pay Rs 1.47 lakh cr dues; no proposal to waive off penalty: Prasad
  • Govt plans incentives for 324 foreign manufacturers

Morning Business News Round Up_Nov 20,2019

Morning Business News:

  • India appeals against WTO’s ruling on export incentives
  • AIIB to invest up to $2.5 bn in urban transport projects
  • DoT asks telcos to share broadband infra in govt bldgs
  • Voda Idea, Airtel loses over 49 lakh users in Sep: TRAI
  • PSBs reported frauds of over Rs 95,700 cr in Apr-Sep
  • Vodafone Idea presses for Rs 7,000 cr tax refund
  • MF industry folio influx hits 3-month high in Oct
  • Phone makers seek clarity on export duty relief scheme
  • Cabinet may consider a proposal to lower govt stake in CPSEs to less than 51%
  • Govt has no plans to revise fiscal deficit target, says MoS Finance Thakur
  • Allahabad Bank’s merger with Indian Bank gets in-principle govt nod
  • RBI unions want govt to raise deposit insurance cover to Rs 10 lakh

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  • RBI slaps Rs 2.50-crore fine on Bank of Baroda over non-compliance
  • Patanjali’s Apr-Sep revenue at Rs 3,562 cr, highest for a half-year period
  • India quit RCEP in national interest: Goyal
  • India vulnerable to the oil price, capital flows shocks: YV Reddy
  • Jet Airways’ bidder Synergy gets an extension till December 16
  • Steel Ministry proposes setting up integrated steel hubs
  • MRPL makes the first export shipment of BS-VI-grade diesel
  • Lupin launches generic hypokalemia drug in the US
  • Dilip Buildcon bags Rs 2,123 cr order from Coal India arm
  • Losses incurred by 71 central PSUs during FY18 rise to ₹31,261 cr
  • ICICI Bank may raise ₹20,000 crores aiming to fill credit gap left by NBFCs
  • 15 foreign banks keen to open a branch in India
  • Scrappage policy hits another roadblock after NITI Aayog flags issues
  • Reserve Bank likely to refer DHFL, Altico to bankruptcy court
  • Employment growth slowed down in the last two years: Report
  • Supreme Court stays SAT order that quashed Sebi ban on Price Waterhouse
  • Govt mulls setting up a dedicated cell to promote Agri startups
  • Central Bank of India reports higher Rs 6,430cr loss for FY19 due to NPA divergence
  • RIL achieves another feat, the first firm to hit Rs 9.5 lakh cr m-cap mark
  • Financial crunch due to Centre’s failure to release GST dues
  • Gold rises Rs 328, silver prices jump Rs 748
  • Passenger vehicle retail sales jump 11 pc in Oct on festive demand: FADA
  • Private banks stay in profit, PSBs return to losses

Morning Business News Round Up_Nov 19,2019

Morning Business News:

  • RBI can now seek resolution of NBFCs having assets
  • Air India extends bridge-loan bids for Boeing purchase
  • GoAir inks pact with Emirates National Oil Co for fuel
  • Surplus transfer from RBI to depend on income: FM
  • RBI working on strengthening its supervisory skills
  • Advent set to buy a controlling stake in Bharat Serum
  • Govt approves strategic stake sales in 28 PSUs
  • YES Bank begins talks to extend November 30 binding offer deadline
  • India committed to becoming a $26-bn defense industry by 2025: Rajnath
  • NHAI to focus on execution, not on awarding new road projects: CRISIL
  • ArcelorMittal hopes to complete Essar acquisition by December end
  • Edelweiss to transfer wholesale loans worth Rs 2,000 crore to AIF
  • Global trade in Q4 of 2019 likely to be below trend: WTO

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  • Company Law Committee bats for decriminalizing 46 penal provisions
  • HeidelbergCement mulls acquisitions, brand push
  • Global PE firm Advent picks up a majority stake in Daftary’s BSV
  • Nissan recalls nearly 400,00 vehicles over braking system defect
  • Synergy Group seeks time to bid for Jet Airways
  • Aditya Birla Idea Payments Bank headed for liquidation
  • Urban Ladder swings to profitability after battling losses, exits
  • Government Panel recommends a review of disciplinary rules on directors, auditors
  • Tata Motors to supply 500 electric cars to Lithium Urban Technologies
  • Shree Cement seeks to raise over ₹2,000 crores via QIP
  • ICICI Bank plans ₹20,000 cr capital boost via QIP
  • PNB, Union Bank get the in-principal nod from govt for the proposed merger
  • Govt mulling to reduce upfront payment for larger coal blocks to attract investors
  • World goods trade may remain below trend in Q4 2019: WTO
  • Government notifies Steel Scrap Recycling Policy: Dharmendra Pradhan
  • TRAI hopes to finalize views on call connect charges by Nov-end: Official
  • Frequent FDA visits slow down pharma exports: GV Prasad
  • Major recovery for SBI, ICICI from Essar verdict
  • NBCC, Suraksha Realty submit revised bids for Jaypee Infra

Morning Business News Round Up_Nov 18,2019

Morning Business News:

  • Govt may soon ease up on FDI rules in a bid to revive the economy
  • Tata Sons chief bats for the privatization of discoms
  • Project delays cost overruns biggest negatives: AIIB
  • FM speaks on measures taken to spur the economy
  • The revival of royalty payment caps in the works
  • Govt’s disinvestment plans on track: FM
  • NSO’s junked consumer expenditure survey shows inequality gap declining
  • India Inc Q2 profit at 15-yr low on record telco losses, net sales dip 0.8%
  • Bharti Airtel, Vodafone Idea put the brakes on costs in September quarter
  • RBI turns down banks’ plea to relax June 7 circular on stressed assets
  • Backed by technology, banks beat economic slowdown by hiring more
  • Draft industrial policy targets $ 1 tn gross value addition in manufacturing by 2025
  • Green certificate sales down 2.25% to 6.87 lakh in October

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  • Q2 GDP growth to decline to per 4.9 percent: NCAER
  • Essar Steel, Adani, GAIL, HPCL buy the bulk of Reliance gas
  • Bharti Airtel withdraws bid for RCom assets citing questionable, unfair
  • DHFL’s debt resolution plan hits a roadblock as collections drop
  • Office property developers seek to monetize assets as investor interest peaks
  • Centre explores new law to shield global investors
  • Muthoot Finance to buy IDBI Bank’s MF business
  • Elon Musk’s Tesla plans to invest $4.4 billion in Berlin factory: Report
  • GST non-filers face cancellation of registration
  • India has the potential for very rapid economic growth, says Bill Gates
  • Penalize companies for non-compliance with Ambient Air Quality Norms: CII-Niti Aayog
  • Winter session: IBC, BRA Bills top economic agenda
  • CBIC refutes reports it demanded GST on salaries paid to CEOs
  • Jaypee Infra insolvency: NBCC sweetens bid by offering more land & Benami flats to lenders
  • Anil Ambani, 4 others resign from bankrupt Reliance Communications
  • Govt working on a policy to push MSME exports: Gadkari
  • Over half of India’s coal-fired power plants set to miss emission norm deadline
  • Govt will be forced to slash spending this year too: Crisil
  • Supreme Court paves way for
  • Arcelor takeover of Essar Steel

Morning Business News Round Up_Nov 15,2019

Morning Business News:

  • Govt plans to cut stake in IOC to below 51%
  • ONGC Q2 profit slumps 24%; misses Street estimates
  • Airtel flags ‘going concern’ risk after big Q2 loss
  • GST return forms simplified, filing dates extended
  • India resumes buying Malaysian palm oil
  • Alstom to deliver 10 electric locomotives to rlys this fiscal
  • L&T Cap likely to sell Dubai Wealth business
  • At Rs 6 trn, CBDT’s direct-tax mop-up so far less than 50% of FY20 target
  • 56% of UK companies upbeat about doing business in India: UKIBC Report
  • Sebi allows exchanges to modify commodity derivatives contracts
  • Glenmark Pharma net declines 38% to Rs 255.54 cr in September quarter
  • Grasim Industries Q2 net jumps to Rs 1,473 cr on good show by subsidiaries
  • Steel companies hike prices by Rs 500-750 a tonne for the first time this fiscal
  • UK companies say a business with India may increase after Brexit
  • Q2 results: NBCC reports a net loss of Rs 90.91 crore

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  • Vedanta Q2 profit rises 61% to Rs 2,158 cr
  • Several wind power projects miss completion deadlines
  • GVK Power’s Q2 loss widens to Rs 159 cr
  • PNB bank fraud: CBI set to file fresh charges in $2 billion scams, says the report
  • Union Bank of India posts Q2 net loss at Rs1,194 crore
  • Malvinder Singh, former Fortis Healthcare promoter, arrested
  • Moody’s affirms RIL’s Baa2 ratings with a stable outlook
  • CCI approves Adani’s 23.5% stake-buy in Mumbai International Airport
  • India resumes buying Malaysian palm oil as Kuala Lumpur offers discount
  • US-China trade war is good news for India’s this export business
  • Walmart Q3 earnings surge to $3.3 billion, beating expectations
  • Downgrade: Now, Moody’s cuts India GDP forecast for 2019 to 5.6%
  • Govt may hive off India Post’s life insurance biz into a separate company
  • Wholesale price index eases to 0.16 percent in October
  • Sensex ends 170 points higher; bank, IT stocks save the day
  • ‘RBI to cut rates by 40 bps by Feb despite high inflation
  • Aurobindo Pharma Ltd unit gets 14 observations
  • Gold supply by domestic refineries dips by one-third

Morning Business News Round Up_Nov 14,2019

Morning Business News:

  • Pay AGR dues as per SC order: DoT to telcos
  • CPI hits a 16-month high, breaches RBI’s target
  • CoC extends RCom’s asset bid deadline by 10 days
  • Govt to institutionalize social audits in rural schemes
  • KEC International bags new orders of Rs 2,255 cr
  • US tech body opposes India’s bid for data localization
  • India’s growth should bottom out in Dec qtr: CLSA
  • Voda boss says Indian JV remark distorted, apologizes to govt
  • Major ports record a muted performance on fall in coal, fertilizer cargo
  • Indian plastic exports to Pakistan decline by 91% on soured relations
  • MFs’ exposure to NBFCs down 30% in 15 months since IL&FS crisis broke out
  • Sebi puts in place disclosure framework for municipal debt securities
  • HAL profit up 116% to Rs 621 cr in Sep quarter; revenue grows 32%
  • Liquidation of Voda-Idea may mean $1.7-trillion hit for shareholders
  • ITC to pick up 33.42% stake in vending machine maker Delectable

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  • SAT to hear RIL appeal against SEBI in ₹2,000 crore Reliance Petroleum case
  • RBI sees sharp fall in consumption
  • CG Power’s foreign subsidiaries face financial crunch, legal issues
  • NBCC, Suraksha Realty asked to submit fresh bids to buy Jaypee Infratech
  • Railways record lowest freight loading since 2010
  • ABB India pulls off strong profit growth but order flow concerns remain
  • SpiceJet Ltd reports ₹461 crores September quarter loss
  • BSNL to raise ₹15000 crore through sovereign bonds next month
  • US-based Dole Food Co to enter India through a tie-up with Future Group
  • High levies, low tariffs double whammy for the telecom industry
  • Yes Bank faces fresh audit into complaints by whistleblower
  • Vedanta SEZ in Odisha seeks permission to locally procure petroleum coke
  • NBCC, Suraksha Realty asked to submit fresh bids to acquire Jaypee Infratech
  • Red-flagging exposures: Banks may classify DHFL as a fraud account
  • Adani Power second-quarter profit falls 99% on poor sales
  • Rupee tumbles 62 paise, could remain weak
  • Sensex tumbles 229 points as weak macro data, rupee woes weigh
  • NABARD seeks credit disbursal from banks on a monthly basis
  • RBI becomes the net buyer of dollars in Sept, bought USD 5.61 billion
  • Dividend tax burden may shift to investors

Morning Business News Round Up_Nov 13,2019

Morning Business News:

  • India invites foreign firms to invest in the oil sector
  • Another whistleblower guns at Infosys CEO Parekh
  • India’s July-Sep quarter GDP numbers crucial: Report
  • Tata Group is looking for a partner to help fix the Jaguar business
  • IL&FS gets banks’ nod for sale of education biz
  • Tata Motors global wholesales dip 19% in October
  • JSW Steel output falls 13 percent to 12.54 LT in Oct
  • Stability, regulatory reforms to boost economic growth: BSE MD Chauhan
  • India-ASEAN bilateral trade may double by 2025 to $300 billion: Study
  • Govt to consider TCS, Infosys offers to set up infotech SEZs on Nov 15
  • Aurobindo consolidated Q2 profit before tax up 5.9% at Rs 904 crore
  • UltraTech to sell stake in Bangladesh-based units to HeidelbergCement
  • India can gain from US-China trade war: RBI study
  • SBI’s Economic Research team cuts India’s FY20 GDP forecast to 5%
  • Tata Motors’ India operations face acute challenges: Moody’s
  • MMTC extends tender offer to sell 6% stake in ICEX till November

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  • States should scrap APMCs and move on to eNAM: FM
  • Apple tops India premium segment with 51.3% market share in Q3, says IDC
  • Moody’s downgrades Macrotech Developers (Lodha ) to Caa1
  • India, other BRICS members to strengthen cooperation in the digital economy: Modi
  • Embassy REIT to raise debt, equity to fund acquisitions
  • Airbnb counts India among its top three fastest-growing EMs
  • India to cross 200 GW renewable energy capacity mark by 2022: Power Minister RK Singh
  • Lodha group arranges $325 million funds to repay bonds maturing in March
  • Ahead of the meet with USTR, Piyush Goyal flags ‘predatory pricing’ in e-commerce
  • Airtel submit bids for RCom spectrum; Jio seeks deadline extension by 10 days
  • Coal India Q2 net profit up 14 pc to Rs 3,522 crore
  • Solar installations drop 35 percent in the first half
  • Oil tanker to become Asia’s refueling hub
  • Vodafone’s future in India in doubt after latest setback
  • Govt within its rights to hold spectrum auction: COAI
  • Jindal Stainless reports Q2 profit at Rs 52 crore

Morning Business News Round Up_Nov 7,2019

Morning Business News:

  • Single-window clearance likely for private coal blocks
  • India may not have shut the door on RCEP
  • Govt’s Rs 25,000cr realty booster inadequate: ICRA
  • AGR ruling may hit any company with telecom license
  • 22,000 employees opt for BSNL VRS plan in 2 days
  • Sebi allows MFs to create a segregated portfolio for unrated debt
  • Raymond to demerge core lifestyle business
  • Govt not planning to help banks rescue shadow lender DHFL: Report
  • Aramco’s offer of $75 bn dividends can stretch finances during the oil slump
  • Sun Pharma posts Rs 1,433-crore pre-tax profit in Q2, meets estimates
  • Tea Board open to holding talks with ITC to sort out trademark issue
  • Irdai directs Reliance Health Insurance to stop selling new policies
  • Ship-building industry to get a great boost: Union Minister

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  • Kesoram Industries awaits NCLT nod for demerging tires business
  • Cairn Oil & Gas gets the 10-year extension for Ravva field
  • Modi to head for BRICS meet with big biz team
  • Powerplus Traders bags Jagannathpur B coal mine
  • Solar Industries’ profit jumps 61% on tax write-back
  • China, the US to lift some tariff hikes as trade talks advance
  • Sebi asks MFs to report any changes in terms of investments to rating agencies
  • CBIC’s DIN system to come into effect on November 8
  • DLF Q2 profit rises 19% to ₹445 crore
  • 73% urban Indians can afford a new home, says the survey
  • NBFCs, HFCs may be brought under bankruptcy code
  • Global debt surges to record high $188 to IMF chief
  • India may impose an anti-subsidy duty on imports of copper wire rods from four nations
  • Corporation Bank to raise up to Rs 1,000 crore by issuing Basel III compliant bonds
  • PLFs of many power plants to fall to 40% by 2022: Report
  • India reiterates call for lifting US sanctions against Cuba
  • Rupee recovers losses to end flat on US-China trade deal hopes
  • Sensex jumps 184 points to hit new record high; Nifty reclaims 12,000 mark
  • Gold prices up to Rs 70 on rupee depreciation
  • ICICI Bank opens 57 branches in AP, Telangana this fiscal
  • Nirmala Sitharaman reviews the state of the economy at FSDC meeting