Morning Business News Round Up_June 5, 2018

  • 15 projects approved for export infra under TIES
    Parliamentary panel pulls up SBI, PNB chiefs
    Telangana banks given Rs 5400 cr for farm scheme: RBI
    Banks put NPAs worth Rs 28,000 crore up for sale
    Image result for rbiIDBI’s MK Jain appointed as RBI deputy Guv
    ICICI Bank loan row: Anatomy of a ‘quid pro quo’ deal
    Voda-Idea merged entity won’t succumb to debt: Citi
  • India gets cheapest LNG as Russia’s Gazprom begins supplies
    Wind energy fans power-short Gujarat as Adani and Essar switch off
    Bayer to complete $63-billion acquisition of Monsanto on June 7
    India has a $210 bn bad debt problem and offshore investors smell a chance
    Vedanta enters steel with acquisition of Electrosteel Steels, to hold 90%
    Higher crude prices, weak rupee may widen CAD by up to $31.2 bn: India Ratings
    SEBI moves to ease corporate insolvency resolution process
    Fitch downgrades PNB’s viability rating to ‘b’
    ICRA pegs wind energy capacity addition at 3-3.5 GW in FY’19
    India, Iran discuss revival of rupee-rial payment mechanism
    Tata Motors sets up a new vertical to drive EV business
    US Fed must go slow with balance sheet unwind: Urjit Patel
    Govt weighs merger of Bank of Baroda, IDBI Bank, Oriental Bank, Central Bank
    UltraTech wins copyright infringement case to secure its brand against Everest Industries
    Idea Cellular gets DoT approval to hike FDI limit to 100%
    Microsoft agrees to buy coding site GitHub for $7.5 billion
    Reliance Jio begins hiring AI team under Akash Ambani
    Global airport capacity crisis amid passenger boom: IATA
    China likely to surpass US in R&D spending, says report
    Supreme Court restrains finalisation of Binani Cement asset sale till further orders
    Coal India Ltd’s dispatch to power sector up 15 per cent in April-May
    Global application infrastructure, AIM market grew 12% in 2017, says report
  • Sebi lowers expenses charged by MFs
    Bond yield jumps to 2-week high in anticipation of rate hike
    Tata Motors maps turnaround for 2019
    RBI guv sees dollar double whammy
    ONGC may not come to govt’s rescue
    Oil, MSP may derail fiscal deficit plans

Morning Business News Round Up_June 1, 2018

  •   India grows 7.7% in Q4, remains fastest-growing
  •   Govt meets fiscal deficit target of 3.5% for FY18
  •   Govt may relook at Air India stake sale strategy
  •   Setback for Jaypee as Orient calls off Rs 2,000 cr deal
  •   Centre appeals in HC against Voda’s int’l arbitration
  •   Shut plant won’t hurt Vedanta’s cash flow much: S&P
  •   Warburg buys 26% stake in IndiaFirst Life for Rs 710 Cr
  •   April eight core industries growth at 4.7% vs 4.4% a yr ago
  •   India’s per capita income grows by 8.6% to Rs 113,000 from 103,870 in FY18
  •   Investment rate stagnates in last three years: CARE
  •   MEP Infra to tie up with funds from Singapore or UK for TOT projects
  •   Sebi slaps Rs 1 mn fine on DLF for wrong disclosures from IPO proceeds
  •   India, World Bank sign $500 mn loan pact for rural roads
  •   Centre mulls building 3-mt sugar buffer; moves to sweeten exports
  •   IOC most profitable PSU for second consecutive year
  •   SAIL posts Rs 816 cr net profit in Q4
  •   BSNL ties up to create mobile advertising ecosystem
  •   ‘Costly crude, weak rupee can pose an immediate threat to growth’
  •   RBI needs better rupee policy: NITI Aayog vice chairman
  •   Flipkart Internet narrows loss to ₹1,639 crore in fiscal 2017
  •   NPA-laden UBI to cap loans to single borrower at Rs.150 crore
  •   ATC closes Rs.4,000 crore deal to acquire 9,900 telecom towers from Idea Cellular
  •   Petrochemical, gas trading businesses a drag on GAIL’s Q4 results
  •   UIDAI relaxes daily Aadhaar updation target for bank branches
  •   PM Narendra Modi launches BHIM, RuPay and SBI digital payment apps in Singapore
  •   ADB funds $375 mn project for irrigation boost in Madhya Pradesh
  •   HDFC shares rally ahead of new FIIs trading window
  •   Tax reforms to help expand revenue base: Moody’s
  •   Govt to set up 3mt sugar buffer stock
  •   L&T Shipbuilding’s auditors raise ‘going concern’ doubts
  •   Mutual Funds set to rename schemes by June 30

Morning Business News Round Up_May 30, 2018

  •   SGX defers launch of new India product
  •   FPI debt selling hits 18-month high in May
  •   Banks ask exporters to close Iran deals due to curbs
  •   States owe generation cos Rs 32,024 cr till Feb 2018
  •   Reliance Infratel withdraws petition seeking asset sales
  •   NCLAT to hear Essar Steel lenders plea on May 30
  •   Vedanta prepares legal challenge to plant closure
  •   Coal India Q4 net profit drops 52% to Rs 12.95 bn on higher employee cost
  •   Banks have disbursed Rs 6 trillion Mudra loans: PM
  •   Sebi launches probe into MCX’s technical glitches and NSE’s NOW disruption
  •   Fortis terminates Munjal-Burman offer, initiates fresh bidding process
  •   ITI Ltd’s FPO likely to be completed soon to meet minimum 25% shareholding
  •   Dish TV reports Rs 1.2 bn PAT in Q4FY18, operating revenue at Rs 15.32 bn
  •   Centre promises to refund textile GST dues in 20 days
  •   Paytm trims losses by 39% to Rs 900 cr in FY17
  •   M&M Q4 net surges 50% at Rs 1,155 cr
  •   Fruit & vegetable output pegged at over 307 million tonnes in current
  •   Gas leak reported at GNFC’s TDI unit in Dahej
  •   ONGC nominates one director on HPCL board
  •   Banking services may be hit by 2-day union strike from Wednesday
  •   RCom offers to pay Ericsson Rs500 crore to settle dispute
  •   Trai proposes use of blockchain technology to curb pesky calls, SMS
  •   Nestle to cut 500 jobs in biggest swiss restructuring plan
  •   Rupee closes lower against US dollar
  •   Another shocker for Vedanta’s Setrlite copper plant: Tamil Nadu cancels land allotment
  •   Rotomac bank fraud case: ED attaches Rs 177 crore assets
  •   World Bank to provide $21.7 mn loan for Rajasthan financial management
  •   Bangladesh could well march past India on the growth path
  • Related image  India’s exports may jump 20% in current fiscal 2018-19 to $350 billion
  •   Rubber production deficit to be at record high this year
  •   BSNL-Patanjali co-branded SIM card offers 60GB @ Rs 144
  •   CBI books AirAsia CEO Tony Fernandes on lobbying charges
  •   Reserve Bank audit reveals NPA divergence of Rs 45,600 cr in PSBs

Morning Business News Round Up_May 24, 2018

  •   Govt won’t allow any bank to fail: FinMin Secy
  •   Direct tax collection rises 18% to Rs 10.03L cr in FY18
  •   DoT includes tower cos in right of way rules
  •   India takes US steel tariffs complaint to the WTO
  •   Over 2,100 companies settle Rs 83,000 cr dues
  •   Tata Motors Q4 profit halves YoY to Rs 2,176 crore
  • Related image  Trai asks telcos to put all tariffs online from June 30
  •  Cabinet approves ordinance to give homebuyers creditor status under IBC
  •  Tata Steel’s Bhushan buy to raise net leverage over next 2-3 years: Fitch
  •   Jet Airways posts 4th-quarter loss due to higher fuel costs
  •   Cabinet approves restructuring of Scooters India B/S
  •   OMCs under pressure; IOC hits 52-week low; HPCL, BPCL down 6%
  •   Cabinet clears amendments to bankruptcy code
  •   Walmart India, Flipkart top executives meet CCI; apprise business activities
  •   GVK Power Q4 profit at Rs 23 cr on standalone basis
  •   Binani Cement’s resolution professional postpones lenders’ meet
  •   NLC, NMDC to sign MoU with Australian firm for steel production
  •   TCS expands operations in Florida as part of Transamerica deal
  •   Yes Bank recovers 66% of original claim filed for Bhushan Steel
  •   Motherson Sumi Q4 profit up 7.32%, dividend of Rs2.25 per share declared
  •   Grasim to invest Rs13,000 crore in textile, cement business
  •   Vedanta Resources operating profit up 27% to $4.1 billion in FY’18
  •   Suzlon in talks to sell 300 MW of wind power assets
  •   Violent protests: Madras High Court stays Sterlite smelter expansion
  •   Telcos add 70 m subscribers in Jan-Mar
  •   Binani RP postpones creditors’ meet
  •   ABG Shipyard receives new resolution plan
  •   UTI is not a PSU, and it has to be Sebi-compliant
  •   Risks of servicing Basel II debt up for some PSBs: Icra
  •   4,072 telecom towers to be set up in Naxal-hit areas for Rs 7,330 crore
  •   CBIC aims to dispose pending cases by June
  •   Record oil prices: Relief eludes as govt looks oblivious to

Morning Business News Round Up_May 23, 2018

  •   SBI to sell stake in SBI Gen, SBI Card & SBI Caps soon
  •   OC posts 40% YoY jump in Q4 profit at Rs 5,218 cr
  •   India Inc foreign borrowing jumps over 2-fold in April
  •   Venezuela willing to accept oil payments in rupees
  •   Over 39L jobs created in 7 months till March: EPFO78
  •   Dalmia Bharat not to revise bid for Binani Cement
  •  Image result for 5g image ‘5G to offer $27 bn biz opportunity for India by 2026’
  •   SBI posts record loss of Rs 77 bn in Q4; stock rises 3.7%
  •  Modi, Putin talk multi-nation trade corridor being built by India via Iran
  •  Sebi probes insider trading violation at Fortis Healthcare
  •   Oil on the boil: Fuel subsidy may hit Rs 530 bn: Moody’s
  •   Rupee recovers from two-day fall to 68.04 vs dollar, edges 8 paise higher
  •   Sebi to ease norms for MF in derivative investment by raising cap on F&O
  •   Hyundai to hike vehicle prices by up to 2% from June
  •   DLF eyes bookings of ₹2,500 cr in FY’19; to be debt free by March
  •   Bharti Group exits Biyani’s Future Enterprises by selling its 13.64% stake
  •   RCom moves NCLAT challenging order allowing plea for its insolvency
  •   Highest bidder for Air India to be known by Aug: Choubey
  •   NCLAT puts Essar Steel insolvency process on hold
  •   Cipla back in black, posts Q4 profit of Rs179 crore but misses estimates
  •   Bosch Q4 standalone net down 1.51% at Rs433.78 crore
  •   Bata India March quarter profit jumps 44.8% to Rs52 crore
  •   Warburg Pincus leads race to buy 26% stake in insurer IndiaFirst
  •   India may not accept arbitration orders annulling Cairn, Vodafone tax demands
  •   Airbus says will obey WTO ruling on aircraft subsidies
  •   Sony buys EMI Music Publishing in USD 1.9bn deal
  •   SoftBank confirms selling ‘entire stake’ in Flipkart to Walmart
  •   China, US near deal on ZTE reprieve; Beijing cuts auto tariffs
  •  FY18 fiscal deficit may come down to 3.4%
  •   DHFL raises over Rs 10,000 crore on day 1
  •   CCI okays $66 billion Bayer-Monsanto deal
  •   Essar Steel insolvency: NCLAT orders status quo
  •   SGX to launch Indian derivatives despite legal move by NSE

Morning Business News Round Up_May 22, 2018

  •   India to achieve 9 per cent growth rate by 2022
  •   China to buy large amounts of US farm exports: Trump
  •  Related image Rising crude may stretch CAD to 2.5 pc of GDP in FY19
  •   CBI charge-sheets Rotomac promoters
  •   US issues steep list of demands for treaty with Iran
  •   SBI and PNB just got a $5.2 bn breather, but it may not last
  •   Google may face $4.3 bn claim in iPhone privacy case
  •   Fortis faces MCA probe for mismanagement, EGM to seal takeover    on Tuesday
  •   NCLAT hope for L&T, firm to argue case on Tuesday for Bhushan      Steel dues
  •   Two consecutive years of better monsoon, MSP hike lift rural              demand
  •   Markets drop for fifth straight session on rising crude oil prices
  •   Canada, US, Mexico to renegotiate new NAFTA deal, bring it to conclusion
  •   Foreign investments in Indian start-ups doubled to $16,728 million in 2017
  •   Set sugarcane pricing free: Industry body ISMA to Govt
  •   At 33.26 mt, wheat purchases exceed target by 4%
  •   Rail Vikas Nigam gets SEBI’s nod to launch IPO
  •   L&T’s hydrocarbon arm bags Rs 3,800-cr worth orders
  •   Colgate Palmolive profit rises 25%
  •   India’s Q4 GDP growth likely at 7.4%: Icra
  •   UAE to allow 100% business ownership to foreign investors
  •   NSE to delist Kingfisher Airlines, 17 others from 30 May
  •   Glenmark gets USFDA nod for generic version of Welchol tablets
  •   Moody’s downgrades PNB on impact of Nirav Modi fraud
  •  Sensex ends down 232 points as 1970 BSE stocks drop; PSU banks surge on mega resolution
  •   Income Tax department to file pleas in NCLT to extract tax due from shell firms
  •   Finmin ties up with 40 entities to extend funding under Mudra scheme
  •   Government to step up coal supply to power plants from May 19 -June 30
  •   FinMin rules out raising equity investment limit for pension funds
  •   Airlines may get nod to tap ECB window for low-cost funds
  •   Banks have tapped just a third of credit-worthy consumers: Report
  •   CAIT to move CCI against Flipkart-Walmart deal
  •   Gems & jewellery exports dip 22% in April

Morning Business News Round Up_May 21, 2018

  •   Ultra Tech to acquire Century Textiles’ cement business
  •   Sebi to consider penal action against PNB, Gitanjali
  •   US, China putting trade war on hold: Mnuchin
  •   Independent director quits Fortis board
  •   Jaiprakash Associates to appeal against NCLT order
  •  Related image Petrol, diesel prices hit new lifetime highs
  •   Adani set to make big-ticket entry into e-bus production, eyes tie-up with Taiwan firm
  •   Problem in bond market is root cause of banking sector crisis: CAG
  •   Talks with Putin will strengthen India’s strategic plan with Russia: Modi
  •   Govt expects banks to get back over Rs 1 trn with resolution of 12 big NPAs
  •   Wilful defaults by PNB’s big borrowers slip further to Rs 152 bn by Apr-end
  •   Growth road map clear for Ashok Ley as Q4 profit rises 40%
  •   L&T to make rocket engines at its Coimbatore facility
  •   Climate change cutting of 1.5% of GDP, says Vice-President
  •   Navy gets fuel barge from Titagarh ahead of time
  •   HCC venture set to bag part of Mumbai coastal road project
  •   Tariff battle: India may target US apples, almonds and bikes
  •   China’s Mobike to foray into India in next few weeks
  •   Balrampur Chini posts Rs 42 cr loss in Q4
  •   MTNL may be allocated 4G spectrum: Telecom minister
  •   RIL gets green nod for expansion of petrochemical complex in Maharashtra
  •   Govt may allow data resale in boost to public WiFi plan
  •   Tata Steel-Bhushan Steel deal a sound start to the new bankruptcy framework
  •   Biocon bets on R&D, biosimilars business to boost growth in FY19
  •   Steel, aluminium duties row: India plans to hit back with hike on 20 US products
  •   Walmart, Flipkart deal signals churn in e-grocery
  •   BoI to get Rs 1993 cr from Tata Steel-Bhushan Steel deal
  •   DoT seeks reply from Airtel on Apple Watch eSIM service by May 24
  •   India sixth richest nation with $8,230 billion wealth
  •   GST council asks Centre, states to set up appellate authorities
  •   FinMin begins work on merging insurers, but listing unlikely this FY
  •   Natural rubber prices set to go northward
  •   New and innovative products to conquer F&B sector

Morning Business News Round Up_May 16, 2018

  •   India’s April trade deficit widens to $13.7 billion
  •   Niti Aayog governing council to discuss ‘New India 2022’
  •   Gold imports decline 33%, exports rise 5.2% in April
  •   Request from Indian govt highest after the US: Facebook
  •   NCLT admits Ericsson’s bankruptcy plea against RCom
  •   Aditya Birla Capital’s 2 cos apply to NCLT for merger
  •   Crude oil nears $80 a barrel on Iran sanctions
  •   Bonds, rupee lose big as RBI decides to stay clear
  •   Fraud-hit PNB posts biggest ever quarterly loss of Rs 134.17 billion in Q4
  •   Lupin Q4 net loss at Rs 7.83 bn due to one time write-off
  •   Related imageVodafone India’s FY18 operating profit at Rs 98 bn, data traffic up 4 times
  •   Two independent directors quit IDBI days after FIR in Aircel loan case
  •   Uzbekistan keen to collaborate with Indian textiles, IT firms
  •   Nalco sets revenue from operations target at Rs 9,350 cr
  •   Soaking seeds in selenium reduces arsenic content in rice
  •   Suven Life Q4 net up 56% at Rs 62.5 cr
  •   Resistance caps the upside in MCX Zinc
  •   Monsanto India Q4 profit up 66%
  •   Despite Brexit uncertainties, India-UK trade up 15%
  •   RBI imposes penalty on Cooperative bank
  •   Britannia Industries Q4 profit rises 25% to Rs263 crore
  •   Blackstone unit sells 8% stake in Mphasis for about Rs1,440 crore
  •   Ascendas to buy two office buildings in Navi Mumbai for Rs930 crore
  •   First oil cargo for India’s strategic reserve in Mangaluru sails from UAE
  •   Motorcycle sales outpace scooters’ for third straight month
  •   Forbes honours 100 Gulf-based Indian businessmen; their collective net worth is whopping $26.4 billion
  •   RBI may hike interest rate in next monetary policy meet as inflation rears its ‘ugly’ head
  •   Pay Rs 5 cr more to refund home buyers: SC tells Supertech
  •   India 3rd largest solar market in world behind China and US, says Mercom report
  •   NCLT okays Tata Steel bid for Bhushan Steel
  •    Arcelor parks `7Kcr with SBI for Galva
  •   Google asked to pay tax on advt revenue sent to parent firm
  •   India 3rd largest solar market
  •   Four companies added to MSCI Global Index

Morning Business News Round Up_May 14, 2018

  •   Jio’s latest accusation could land Airtel in a Rs 1,100 crore soup
  •   FPIs pull out $2 bn from mkts in 8 trading sessions
  •   Taxing farm income under consideration of all govts: Niti
  •   Too much trade deficit with US not good: Chinese envoy
  •   RBI may put restrictions on 2 more lenders under PCA
  • Air India, Tel Aviv, Dreamliner aircraft, Benjamin Netanyahu  Air India records 20% growth in revenue
  •   Post QIP, ABG needs to buy 4.9% from Vodafone
  •   Rs 150-bn mega deal inked to enable Indian Army to fight a 30-day war
  •   E-rickshaw tyres to attract 28% GST under Motor Vehicle Act, rules AAR
  •   Equity mutual funds garner Rs 124 bn in April; drive AUM to record Rs 8 trn
  •   India needs 3 million cyber security professionals right now: IBM
  •   Reliance Jio files complaint against Airtel over Apple Watch eSim service
  •   ‘SoS’ sugar cess to fetch Rs.6,700 cr a year
  •   Commerce Min starts work to further revise WPI base year to 2017-18
  •   Govt ‘to link 200 more mandis to eNAM platform this fiscal’
  •   Vijaya Bank tags Reliance Naval as NPA from March quarter
  •   Harley-Davidson’s 3-pronged plan to drive growth
  •   Fortis deal: PEs East Bridge and Jupiter favour bid by Malaysia’s IHH
  •   FBB COO Rajesh Seth says Future Group aims to double its turnover in the next two years
  •   JK Cement Q4 profit more than doubles to Rs96.45 crore
  •   PNB scam: RBI declines to share inspection reports
  •   Oriental Bank of Commerce Q4 loss widens to Rs1,650 crore on rising bad loans
  •   New direct tax code to benefit corporates, IT payers
  •  China’s plans to import Indian drugs fail to enthuse Indian pharmaceutical firms
  •   Artificial Intelligence facing large skills shortage, says Microsoft
  •   CCI approves JSW-led consortium bid to acquire Monnet Ispat
  •   Power Struggle: NTPC’s legacy PPAs keep tariffs high
  •   RBI printing more notes to build cash reserves
  •   New definition, tough steps to tackle shell companies on cards
  •   BSNL ready to compete in market: CMD
  •   Tea planters, firms want rise in farm-gate prices
  •   Castor prices may see recovery on export demand

Morning Business News Round Up_May 11, 2018

  •   Falling Re to take FY19 trade deficit to 4-yr high
  •   Decide on banning import of pet coke: SC to Govt
  •  Image result for PCJ logo PCJ announces share buyback worth Rs 424 cr
  •   Rel Infratel flags desperate need to sale its assets
  •   Jaypee moves SC seeking approval of its resolution plan
  •   York Capital Management ups stake in Fortis to 6.25%
  •   Freeze on fuel prices hike coincidental: IOC chief
  •   RBI adds 3.1 tons of gold to forex reserves in Q4
  •   Walmart-Flipkart deal to hit Indian retail, needs govt scrutiny, says CAIT
  •   Captive coal to cut Nalco’s aluminium cost by 25%
  •   Nestle India Q1 profit rises 36% at Rs 4.24 billion
  •   Indian Bank Q4 profit drops 59% to Rs 1.3 bn on higher NPA      provisioning
  •   RBI could turn to NRI bonds to stifle the crude blow: Report
  •   ‘US sanctions on Iran will not dent India’s exports’
  •   SEBI splits CMD post, raises minimum board strength to 6
  •   IRB Infra arm bags Rs 2,043-cr road project
  •   Titan Q4 net jumps 71% to Rs 304 cr
  •   Zydus Cadila gets USFDA nod for Carbidopa tablets
  •   KKR India to infuse Rs 1,250 cr in Sintex arm
  •   Adani Enterprises Q4 profit declines 17% to Rs181 crore
  •   ABB India’s profit margins, order book betray expectations
  •   Indostar Capital Finance IPO subscribed 69% on Day 2
  •   Union Bank posts Q4 loss of Rs2,583 crore
  •   Ujjivan Financial Q4 profit jumps over 3-fold to Rs65 crore
  •   After Flipkart deal, Walmart to open 50 new stores in India in 4-5 years
  •   Supreme Court spots fund diversion by Amrapali Group, seeks financial details
  •   Jaypee group offers 2,000 shares to home buyers
  •   Apple scraps $1 billion Irish data centre over planning delays
  •   GST, RERA have changed contours of business in real estate, says report
  •   Currency futures trading could be extended to 8 PM
  •  Commercial vehicles take lead over others
  •   NRI Bonds of $30-35B on the way: report
  •   Jignesh Shah moves HC for quashing of CBI probes
  •   Offshoring budgets of US companies down to 5%