Daily news 1st Nov

Business Standard

Ø  YES Bank gets a binding offer for $1.2 bn
Ø  India loses major WTO dispute to the US
Ø  Sebi tightens rules for bad loan disclosures by banks
Ø  Not leaving India, will back JV: Vodafone UK
Ø  PSBs extend support of Rs 2.56L-cr to stressed NBFCs
Ø  Coal India's October production may fall 20%
Ø  China doubts long-term trade deal possible with Trump



Ø  Irdai asks insurers to give details on exposure to DHFL, IL&FS, ADAG
Ø  FinMin claims huge progress in report on measures to boost economy
Ø  IOC Sept quarter net profit slumps 83% at Rs 563.4 crore
Ø  Govt not considering any proposal for gold amnesty scheme: Report
Ø  Syndicate Bank posts Rs 251-cr Q2 profit, versus Rs 1,543-cr loss last year
Business Line


Mint
Ø  Core sector output falls 5.2 per cent in September
Ø  Fiscal deficit reaches 92.6 per cent for six months
Ø  Tube Investments’ Q2 PAT grows 58% at ₹90 crore
Ø  Adani Transmission bags two projects from REC Transmission in Gujarat
Ø  IBC: No back-door entry for ineligible promoters in liquidation proceedings


Ø  India's sugar output seen falling, global deficit rises
Ø  GSK Consumer Healthcare re-launches Crocin Pain Relief
Ø  Govt actively taking steps to boost economy: FinMin
Ø  ShopClues to merge with Singapore-based Qoo10
Ø  GM recalls 638,000 US SUVs, trucks for unintended braking
Ø  Paytm Mall trims losses by 34% in FY19 to Rs1,171 crore
Financial Express


Deccan Chronicle
Ø  India loses export incentive case filed by US at WTO
Ø  Rescuing former cash cows BSNL, MTNL is widening India’s fiscal deficit
Ø  7000 businesses to be set-up in these states under SIDBI’s mega move to boost entrepreneurship
Ø  Digital payments surge to dent banks’ revenues by $9 billion
Ø  Reliance Jio says telcos have sufficient capacity to pay dues after SC verdict


Ø  Auto sector's contribution to GDP may slip to 7 pc this fiscal: Acuite Ratings
Ø  No more FTAs signing in rush assures Piyush Goyal
Ø  Muthoot Finance board approves USD 450 mn fund-raise
Ø  Sensex closes at 40,129, extends gains for 5th session
Ø  Gold prices up Rs 115 to Rs 39,017 per 10 gram
Ø  Banks' payments revenues to dent by USD 9 billion by 2025: report

Daily news 31st oct

Business Standard

Ø  US economy grows 1.9% in Q3 despite trade war

Ø  Indian, Chinese economies to accelerate in Q4: Report

Ø  Govt may not cut Income tax rates due to fiscal stress

Ø  Unitech loses property in Noida over Rs 1,203 cr dues

Ø  Fitch places Airtel rating on negative watch on SC ruling

Ø  Govt-RIL at loggerheads over sale of gas





Ø  India ranks third among Asian countries for environmental sustainability

Ø  Canara Bank to issue shares to govt in lieu of Rs 6,571-cr capital infusion

Ø  AIF industry eyes Rs 2.9-trillion opportunity in cash-strapped firms

Ø  Standard Life sells about 5% stake in HDFC Life Insurance for Rs 5,752 cr

Ø  CCI approves Abu Dhabi Future Energy's equity stake purchase in Hero Future


Mint

Ø  BHEL to showcase advanced ultra-supercritical technology for generating clean power

Ø  International Paper APPM sells 55% stake to WCPM

Ø  JK Tyre Q2 net profit jumps multifold to ₹168 crore

Ø  Indoco Remedies posts net profit of Rs 7.81 cr in Q2

Ø  SAIL may replace NMDC in JV with Australian firm for steel making

Ø  Nestle to weigh $1 bn sale of local Chinese brands





Ø  Abu Dhabi’s Masdar to buy minority stake in Hero Future Energies

Ø  HDFC acquires 9.89% stake in Bandhan Bank

Ø  COAI’s plea to DoT to bail out older telcos unwarranted: Jio

Ø  Blackstone buys 37.5% stake in Aakash Educational Services

Ø  ShareChat FY19 losses surge 12-fold at Rs414.7 crore

Ø  KKR sells 5.46 million SBI Life shares for Rs533.7 crore



Deccan Chronicle

Ø  Finance Commission weighing incentives for states for farm reforms

Ø  Marine exports to China may cross $1-billion mark by year-end

Ø  Air India seeks $819 million loan for 7 Boeing planes

Ø  Apple India net profit falls 70% to Rs 262 cr in FY’19

Ø  Firms bank on Commvault to leverage unstructured data sans security breaches





Ø  IDBI Bank sells over 0.72 per cent stake in NSE

Ø  Rupee slips 6 paise against dollar ahead of US Fed policy outcome

Ø  India will not sign any free-trade agreement in a rush: Goyal

Ø  PMC Bank depositors continue protest seeking payback

Ø  Govt's Rs 15,000 cr soft loan scheme to sugar mills moving at snail's pace: experts

Daily news 30th Oct

Business Standard

Ø  India has 3rd largest startup ecosystem: PM Modi

Ø  'No perceivable inconsistency in Infosys data points'

Ø  Wipro sets up engineering & innovation centre in Virginia

Ø  Dividend distribution tax may be scrapped

Ø  Govt to take stock of ailing telecom sector

Ø  RBI imposes Rs 1 crore penalty on Bandhan Bank

Ø  Kamineni clarifies on Apollo demerger reports

Ø  Prima facie case for probe against Oyo, Go-MMT: CCI





Ø  Tata Sons stake in Tata Motors to rise to 43.73% post preferential issue

Ø  India to invest $100 bn in refining, pipeline, gas terminals by 2024: PM

Ø  BP profit declines by 40% in September quarter on oil price slide

Ø  Banks baulk at Rs 4,000-cr loan to Patanjali for Ruchi Soya acquisition

Ø  Petronet LNG Sep-quarter net grows 90% on lower tax to Rs 1,089 crore

Ø  Total offers 'attractive' Rs 149.63 per share to Adani Gas shareholders


Mint

Ø  Govt likely to order SFIO probe into DHFL financial irregularities

Ø  Hind Zinc net profit up 15 per cent on lower tax outgo

Ø  IndiGo places USD 33-billion order for 300 A-320s

Ø  Japan’s DMG Mori, LMW tie up to increase machinery production

Ø  Steelmakers face debt challenges after ill-timed bets





Ø  Central Bank of India board okays ₹3,353 cr fundraising

Ø  Slowdown bites Indian steelmakers as they face debt challenges

Ø  India, Saudi Arabia moving towards closer strategic partnership: PM Modi

Ø  IOB puts Kolkata-based Jai Balaji Industries' NPA account up for sale

Ø  Govt working on policy to allow OTC drugs sale on retail outlets


Deccan Chronicle

Ø  Input Tax Credit: New GST refund rules create confusion as deadline to file first returns comes close

Ø  Inter-ministerial group discusses possibility of further easing FDI policy

Ø  Insolvency Code progress report: Nearly 4 times as many cases in liquidation as in resolution

Ø  Govt forms high-level panel to look at bailout package for Airtel, Vodafone Idea, other telcos

Ø  Bidvest stake buy: GVK to deposit Rs 1,248 crore in escrow account





Ø  Investor wealth rises Rs 2.73 lakh cr in market rally

Ø  Aramco to make stock market debut on December 11: report

Ø  Sensex rallies over 600 points; Nifty tests 11,800

Ø  Poor credit demand may hit deposit growth in H2

Ø  Ambani says slowdown in India temporary, reforms undertaken to reverse trend

Ø  Amazon pumps in over Rs 4,400 cr in India business

Daily news 25th Oct

*Economic Times*
*Business Standard*

Ø  Fitch cuts India's FY20 GDP growth forecast to 5.5%
Ø  Voda Idea may file review petition after SC order on AGR
Ø  SC order will weaken sectoral viability, says Airtel
Ø  IndiGo reports surprise Rs 1,062 cr loss in Q2
Ø  Indian economy in transition phase: SBI Chairman
Ø  Thomas Cook India may buy Thomas Cook brand
Ø  IDFC First Bank Q2 loss widens to Rs 676 crore on one-time tax impact
Ø  ITC Q2 net profit up 37% to Rs 4,173.72 crore; net sales 6.16%
Ø  Maruti Suzuki Q2 profit dips 39% YoY to Rs 1,359 crore, revenue slips
Ø  BOJ warns of rising financial vulnerability as banks hunt for yields
Ø  Disclosures not required on whistleblower's charges: Infosys to exchange
Ø  CCI approves 4% stake buy in Aditya Birla Capital by Jomei Investments

*Business Line*
*Mint*

Ø  Commerce Ministry considers 5-year extension of income tax benefits for SEZ units
Ø  United Spirits profit declines 13% to ₹225 cr on consumption slowdown
Ø  Colgate-Palmolive Q2 net up 24% to Rs 244 cr
Ø  Aurobindo Pharma gets USFDA nod for Guaifenesin generic
Ø  DCM Shriram Q2 net dips by 30 per cent to Rs 119 cr
Ø  JSW Steel confident of getting immunity in Bhushan Power case
Ø  IBHFL moves plea in Delhi HC seeking recall of notice issued on fraud probe
Ø  India needs fresh reforms to be among top 50 nations in ease of doing biz: WB
Ø  NSE Indices launches Nifty Midcap150 Quality 50 Index
Ø  TRAI releases recommendations on KYC of DTH operators
Ø  GMR recasts debt worth ₹900 crore
Ø  India vaults to 63rd in ease of doing business rankings

*Financial Express*
*Deccan Chronicle*

Ø  Inter-ministerial group to discuss FDI policy easing on October 29
Ø  Airtel, Vodafone-Idea, others face Rs 1.4 lakh cr payout after SC order
Ø  Dharmendra Pradhan to attend Global Forum on Steel Excess Capacity in Tokyo
Ø  Gujarat oil millers expect bumper groundnut crop, spike in exports
Ø  SC allows Centre's plea to recover adjusted gross revenue of Rs 92k cr from telecos
Ø  Govt starts hiring process for National Financial Reporting Authority
Ø  Infosys woes: US SEC to probe into whistleblower allegations, Sebi seeks more info
Ø  Banks say no material impact from Supreme Court order

Daily news 24th Oct

Business Standard

Ø  Govt unveils revival plan for BSNL, MTNL
Ø  Centre opens up fuel retailing to non-oil companies
Ø  Hard Brexit an opportunity to Indian IT cos: Expert
Ø  India's banking sector stare at a bigger crisis
Ø  Tata Steel subsidiary bags second chrome mine after Misrilall in e-auction in Odisha
Ø  IMF sees Indian economic growth rebounding to 7%
Ø  L&T bags HPCL's order worth over Rs 7,000 cr



Ø  Mauritius' regulator red-flags removal of investment status by Sebi
Ø  Govt relaxes fuel retailing norms, private firms can set up petrol pumps
Ø  Cabinet raises support price by Rs 85 a qtl for wheat, Rs 325 for pulses
Ø  Indian Bank pre-tax profit up three-fold to Rs 593 cr; net NPA pared
Ø  Sebi starts probe into whistleblower's complaint against Infosys management
Ø  P-note investments dip for fourth straight month in Sept at Rs 76,611 cr


Mint
Ø  Hero MotoCorp second quarter profit slips 10% to ₹875 crore
Ø  Essar Ports overall cargo handling rises 20% in H1
Ø  Lemon Tree to complete Keys Hotels buy by Dec
Ø  IRB Infrastructure reports 16% rise in net profit
Ø  Torrent Pharma Q2 standalone profit jumps 18%
Ø  Havells Q2 net profit flat at Rs 179.51 cr


Ø  Biocon posts 39% fall in net profit Q2 even as biologics business booms
Ø  Investments via P-notes fall for fourth month in a row, stand at ₹76,611 cr
Ø  Tobacco labs to undertake research on product constituents
Ø  India unlikely to benefit from US-China trade tensions: EIU
Ø  JSW Steel sees net profit rise on deferred tax reversals

Deccan Chronicle
Ø  Risk of contagion in financial sector rising: S&P Global Ratings
Ø  HCL Tech Q2 net profit up 6.9 per cent to Rs 2,711 crore, announces bonus shares
Ø  Reliance Jio beats Airtel, Vodafone Idea in September 4G download speed chart: Trai data
Ø  Indian cotton industry hit by high prices; traders ask for relief
Ø  DLF gets Leed platinum green certification from USGBC for ‘Mall of India’


Ø  Indian external storage market valued at USD 101.8 million shows new data
Ø  Rupee inches up 3 paise to 70.91 versus USD
Ø  Sensex closes 95 points higher; Nifty settles above 11,600
Ø  EU moves towards Brexit delay as MPs reject Johnson's timetable to rush legislation

Daily news 23rd Oct

Business Standard

Ø  Sebi issues framework for listing of commercial paper

Ø  US law firm preparing class action suit against Infy

Ø  Audit confirms fund diversion, endgame near for DHFL

Ø  India Inc's deal activity falls in July-Sept quarter

Ø  Ujjivan Small Fin Bank gets Sebi's nod for IPO

Ø  India weighs trade curbs on Turkey, Malaysia

Ø  Sebi challenges SAT ruling in PwC-Satyam case





Ø  Banks to face capital crunch of Rs 3.5 trillion if NBFC mess drags: Fitch

Ø  RBL Bank's Q2 profit before tax plunges 67% as provisions jump three-fold

Ø  Half the world's banks are too weak to survive a downturn: McKinsey

Ø  Jio, Vodafone Idea, Airtel pay govt over Rs 4500 crore in spectrum dues

Ø  Alembic Pharma gets USFDA nod for ointment to treat various skin disease







Mint

Ø  Steel prices drop below dumping duty levels on muted demand

Ø  BSNL’s revival plan hangs in balance as FinMin bides its time

Ø  Lincoln Pharma secures patent for Diclofenac Rectal Spray

Ø  Grasim forms new joint venture for composite hollow core insulators

Ø  63 moons damage suit: Bombay HC asks Chidambaram, others to respond in 8 weeks





Ø  25 DHFL group firms with ₹1 lakh avg profit took ₹14,000  cr loans

Ø  'Reduce Centre's stake below 51%': Abhijit Banerjee's remedy to banking crisis

Ø  PMC Bank despositors' woes mount as RBI Governor abroad

Ø  Oriental Bank of Commerce posts Rs125.9 crore profit in Q2

Ø  Investors eye social e-comm startups to target new users






Deccan Chronicle

Ø  PM Modi likely to visit Saudi Arabia on October 29 for investment summit

Ø  SoftBank set to take control of WeWork with $1.7 billion payout for ousted CEO

Ø  Axis Bank posts standalone net loss of Rs 112 crore in Q2 on one-time tax impact

Ø  FMCG cos are top 10 TV advertisers amid festive season; HUL leads the pack





Ø  Kotak Mahindra Bank beats estimates; quarterly profit surges 51 per cent

Ø  Walmart chief seeks stable business environment from Modi: Report

Ø  Sensex plunges 335 points; Infosys sinks 16 per cent

Ø  Thomas Cook India in talks for buying out brand

Ø  Crude oil futures plunge on subdued global cues

Daily news 22nd Oct

Business Standard

Ø  Oil industry issued advisory to avoid Malaysian palm oil

Ø  Household wealth more than doubles to $12.6 tn in 2019

Ø  China seeks WTO okay for $2.4 bn tariffs on US goods

Ø  Drug companies reach settlement ahead of landmark US opioids trial

Ø  Infosys responds to whistleblower 'expose'

Ø  No another vote on Brexit deal: UK speaker

Ø  Broadband India Forum backs Jio, asks Trai to scrap IUC





Ø  Govt likely to extend benefits to exporters under MEIS till 31 March

Ø  India contributes 7% to global wealth rise, says Credit Suisse report

Ø  Piramal Enterprises profit before tax rises 29% to Rs 733 crore in Q2

Ø  Adani, GMR in fray to commercially redevelop Chandigarh railway station

Ø  Bharti Infratel posts 61% jump in net profit at Rs 964 crore in Q2FY20

Ø  RBI steps in to raise deposit insurance cover for customers from Rs 100,000






Mint

Ø  UltraTech Cement net up 63 per cent on lower cost, higher realisation

Ø  Adani, Tata Power plants among those seeking coal linkages without curbs

Ø  Hotels, travel aggregators start refunding GST

Ø  Rane (Madras) Q2 net plunges 80% on sluggish demand

Ø  Shree Cement July-September profit jumps five-fold to Rs 313 crore

Ø  Adani commissions 50 MW wind energy plant





Ø  Piramal Capital and Housing Finance net revenue grows 13% to ₹1,954 crore in Q2

Ø  Centre may allow consumers to choose electricity supplier offering lowest tariff

Ø  Bharti Infratel, Indus Towers merger gets delayed; new panel to explore options

Ø  Embassy Office Parks, Actis, others  bid for Mapletree’s tech park

Ø  Centre’s EPFO dues surge to ₹9,115 crore amid fiscal pressure






Deccan Chronicle

Ø  Reliance on short-term funding poses risk to vehicle finance companies: Moody's

Ø  Japan has huge export potential in pharma, gems and jewellery sectors: FIEO

Ø  Govt’s stringent commitment to low inflation hurting farm sector: Nobel laureate Abhijit Banerjee

Ø  Piyush Goyal says differences resolved with US over trade deal

Ø  India turns refined copper importer after 18 years: Care





Ø  New foreign trade policy may have simpler export promotion schemes

Ø  Whistleblower complaint placed before audit committee: Infosys

Ø  FPIs pour in Rs 5,072 cr into Indian capital markets in October so far

Ø  Share of ready housing units rises to 12 per cent in September quarter

Ø  Pension beneficiaries’ bank accounts to be linked to Aadhaar

Daily news 18th Oct

*Business Standard*

Ø  Britain, European Union reach Brexit deal
Ø  Adani Enterprises sets up new arm for metro rail biz
Ø  DHFL reports Q2 net loss of Rs 242 crore
Ø  Adani partners Adnoc, BASF for $4 bn chemical venture
Ø  IL&FS completes wind power units sale to Orix
Ø  J&J agrees to pay about $117 mn to settle mesh probe
Ø  Govt asks PSBs to look for alternative resolution mechanism outside IBC
Ø  Cipla acquires anti-infective drug Elores from Venus Remedies
Ø  RBI's subsidiary DICGC to revamp 50-year-old deposit insurance scheme
Ø  Steel prices fell to three year low; industry awaits demand pick up
Ø  TVS Motor profit rises 21% YoY in September quarter at Rs 255 crore


*Mint*

Ø  India will soon become a gas trading hub, says Pradhan
Ø  FMCG performance in rural India worst in 7 years: Nielsen
Ø  Bhushan Power case: ED to move apex court against NCLAT order
Ø  PVR Q2 net profit soars 35 per cent
Ø  Zee Entertainment profit up 6.9%
Ø  Consumption in rural India hits a 7-year low
Ø  IMF chief Georgieva calls for reversing tariffs threatening global growth
Ø  Piyush Goyal warns action against e-commerce companies if found guilty
Ø  Indiabulls Housing Finance offers to pre-pay NCDs
Ø  India rallies 51 nations to reject US memo on special treatment


*Deccan Chronicle*

Ø  BREXIT deal sealed: India likely to benefit but Indian firms in UK must watch
Ø  China appeals to Washington for quick end to trade war
Ø  Govt probing Flipkart,Amazon for alleged discount sales
Ø  Rupa bets on modern retail for Rs 2000 crore topline by FY22
Ø  DMF funds for mineral-rich states grossly underutilised
Ø  Rupee parevs initial losses; settle 11 paise up at 71.43 against USD
Ø  Average MF ticket size, exposure per borrower continue to go up
Ø  Sensex rallies 453 points to close above 39,000-mark; Nifty tops 11,550
Ø  Real estate market sentiment decline to 2016 note ban levels

Daily news 17th Oct

Business Standard

Ø  Overseas investors increase Asian bond buying
Ø  Economies should engage in combined action plan: IMF
Ø  US warns China about untrackable ships carrying Iran oil
Ø  Slowdown in credit linked to growing risk aversion: SBI
Ø  RIL can hit $200b m-cap in 24 months, says BofA-ML
Ø  Trump says won't sign trade deal until he meets with Xi
Ø  PMC Bank assures to protect depositors interest



Ø  India's fuel demand dips to lowest in over two years in Sept: Govt data
Ø  ICRA revises rating outlook for one-third of wind, solar portfolio
Ø  India cannot sacrifice economic strength to comply with US sanctions: FM
Ø  PNB Housing to raise up to Rs 10,000 cr by issuing bonds in tranches
Ø  Declining domestic copper grades compel China to look overseas: Fitch



Mint
Ø  Fundamentals of economy ‘very very strong’: CEA
Ø  Lending to small units fell in Q1, says MSME report
Ø  Bharat Electronics signs MoU with TEL for ammunition business
Ø  JSW Paints to enter western markets by year end
Ø  India halved its poverty rate since 1990s: World Bank
Ø  ACC net up 45% on higher realisation


Ø  Reliance Jio alleges fraud by incumbent telcos to earn IUC revenue
Ø  Mindtree catches up with Street’s expectations in Q2
Ø  VTB Group acquires rights to sell 10.71% stake in ZEEL to recover loan
Ø  Road ministry issues draft norms to set up vehicle scrapping facility
Ø  Sell our assets and start repayment to PMC: HDIL promoters ask probe agencies



Dec can Chronicle
Ø  RBI extends restrictions over two Maharastra based cooperative banks
Ø  Coal shortage has impacted aluminium production: Nalco
Ø  Important for India to keep fiscal deficit in check: IMF chief economist Gita Gopinath
Ø  DHFL crisis: Lenders hope Mutual Funds also join resolution plan soon


Ø  Adani Wilmar eyes Rs 36,000 cr from consumer business in 5 years
Ø  Rupee pares initial losses; settle 11 paise up at 71.43 against USD
Ø  Sensex rises for 4th straight session, up 93 points
Ø  Oil prices edge higher as OPEC hints at deeper output cuts

Daily news 16th Oct

Business Standard

Ø  Sep trade deficit narrows slightly to $10.86 billion
Ø  Global growth in 2019 to be lowest in a decade: IMF
Ø  EU, UK negotiators closing in on a draft Brexit deal
Ø  1/3 large firms not to switch to new tax regime: Crisil
Ø  Saudi Aramco interested in buying govt's stake in BPCL
Ø  Jain Irrigation cut to ‘selective default’ by S&P



Ø  Wipro Q2 net profit jumps 35.1% YoY to Rs 2,552.6 crore
Ø  September exports repeat decline, contract by 6.5% to reach 3-month low
Ø  Air India stake sale: Buyer to get only Rs 10,000 crore of airline debt
Ø  Promoters sell 22% stake in Bajaj Consumer Care for Rs 700 crore
Ø  Essar Steel CoC defends lower pay out to Standard Chartered Bank



Mint
Ø  IMF cuts India's growth forecast to 6.1 per cent
Ø  Essel in talks to sell six road assets to NIIF
Ø  MCX net doubles on higher volume, gold price rise
Ø  CleverTap raises $35 million from Sequoia, Tiger Global
Ø  Berger Paints to acquire 95.53 per cent in waterproofing co STPL for Rs 167.5 cr
Ø  Sajjan Jindal repays ₹1,200-cr loan to release pledged shares


Ø  RBI governor assesses liquidity situation, calls for quicker transmission
Ø  India retains tag of world's fastest growing economy alongside China: IMF
Ø  Subhash Chandra  scrambles  to retain Zee reins amid VTB’s stake sale talks
Ø  Karnataka Bank Q2 net down 5.3% to Rs106 cr as bad loans go up



Dec can Chronicle
Ø  India’s services exports up 10% in Aug at $18.24 billion; imports rise 16%
Ø  China sees ‘no difference’ with US on trade deal
Ø  India on track to achieve 175 GW of renewable energy by 2022: RK Singh
Ø  India does not have any trade dispute with US, says Piyush Goyal


Ø  Cabinet to consider splitting GAIL; pipeline business not to be sold before 2022
Ø  Sensex spurts 292 points; auto, metal stocks drive rally
Ø  Maruti reports Rs 154 crore investment in CSR initiatives last fiscal
Ø  Total to buy Adani Gas stake via open offer

Daily news 15th Oct

Business Standard

Ø  Govt mulls raising Rs 1 lakh threshold for invoking IBC

Ø  YES Bank sells 6.56% stake in Fortis Healthcare

Ø  Digital technologies to create $1 tn value by 2025: EY

Ø  Total, RIL may not bid for BPCL; BP wants to see offer

Ø  Adani Transmission acquires arm of REC Transmission





Ø  HUL Q2 net up 21% YoY to Rs 1,848 cr; to give Rs 11/sh as interim dividend

Ø  Moody's downgrades Indiabulls to B2 on fund raising challenge, governance

Ø  RBI hikes cash withdrawal limit for PMC depositors to Rs 40,000

Ø  Indian pharma companies spread businesses to avoid regulatory ire

Ø  Assets worth Rs 3,830 cr seized, identified in PMC Bank case: ED

Mint

Ø  Reliance to swap diesel for Venezuelan crude oil

Ø  Ratan Tata to invest in EV start-up Tork Motors

Ø  Consumer inflation inches up close to 4% in September on costlier food items

Ø  Granules India to exit from China jt venture

Ø  L&T puts two thermal power units into operation in MP, UP





Ø  Lenders approve JSW Energy’s resolution plan for Ind-Barath’s 700 MW power plant

Ø  Rural demand remains a concern for Wipro Consumer Care and Lighting

Ø  New resolution professional of Videocon seeks EoIs for 13 companies under IBC

Ø  BSE to suspend trading in Manpasand Beverages, Binani Industries, 14 others

Financial Express





Dec can Chronicle

Ø  Indian economy structurally, fundamentally strong: MoS Finance

Ø  India to see $118 billion investment in oil, gas sector in next few years, says Dharmendra Pradhan

Ø  WTO gives final approval to US retaliation in Airbus case

Ø  RBI imposes Rs 1 crore fine on Lakshmi Vilas Bank, Rs 75 lakh on Syndicate Bank for violating norms





Ø  Traders' body seeks govt audit into business models of Amazon, Flipkart

Ø  Rupee drops 21 paise to 3-week low on fading US-China deal optimism

Ø  Sensex pares gains, ends 87 points higher; Nifty closes at 11,330

Ø  SBI re-enters top-10 most valued firms list; replaces Bajaj Finance

Daily news 14th Oct

Economic Times


Business Standard

Ø  World Bank cuts India's growth projection to 6%
Ø  Unexpected jolt for RIL's Rs 5,050-cr IBC win
Ø  ISRO spectrum demand may hit 5G rollout: Experts
Ø  Cooperative sector needs self regulation: Goyal
Ø  Rs 25 lakh cr will be spent for rural infra: Modi
Ø  $60 bn investment coming in gas infra: Pradhan
Ø  Govt to cut stake below 51% yet retain control of CPSEs



Ø  CCI to conduct study on telecom sector amid changing market dynamics
Ø  Consumer discounts unsustainable, will go down post October: Maruti Suzuki
Ø  Essar leads India Inc deleveraging; pays off Rs 1.4 trillion: Prashant Ruia
Ø  Eight of top 10 most-valued companies add Rs 80,943 cr in m-cap, RIL leads
Ø  Future Retail to buy group co's infrastructure assets in Rs 4,000-cr deal
Business Line


Mint
Ø  Insolvency Law Committee plans to meet on October 15 to discuss new reforms for IBC
Ø  IHMCL, GSTN to sign MoU to link FASTag with GST e-way bill system on October 14
Ø  We need to improve the tight credit situation: NITI-Aayog VC
Ø  ED move to attach Bhushan Power asset vindicates our stand: JSW Steel
Ø  Coal mine auctions: Ministry will allow mines with less than 3 bidders to go under hammer


Ø  Rural slowdown may weigh on HUL’s growth in second quarter
Ø  IRCTC to make stock market debut today
Ø  Passenger vehicle exports expand 4% over April-September, Hyundai Motor leads
Ø  DLF sells 376 completed flats worth ₹700 cr in Gurugram housing project
Ø  Brexit divorce talks between UK and EU go down to the wire
Ø  Mukesh Ambani, Sunil Mittal to skip India’s largest mobile expo amid IUC battle
Financial Express


Dec can Chronicle
Ø  Bangladesh, Nepal likely ahead of India as growth in South Asia to slow down in 2019, says World Bank
Ø  Remittances under LRS hit new high in August; April-July amount outpaces FPI inflows
Ø  RBI exercising forbearance on MSME lending as small business loans are in trouble, says Raghuram Rajan
Ø  DMart profit rises 48% on better margins, higher revenue


Ø  Industrial production slips by 1.1 per cent in August
Ø  No of crorepati taxpayers up 20 pc to 97,689 in AY 2018-19: CBDT data
Ø  Daimler recalls hundreds of thousands of Mercedes-Benz diesel vehicles

Daily news 11th Oct

Economic Times


Business Standard

Ø  ECB minutes show deep rift over policy as Draghi era closes
Ø  Ind-Ra pares India’s FY20 GDP forecast to 6.1%
Ø  US, China resume high-level talks to end trade war
Ø  India jumps to 7th spot in Brand Finance Nation ranking
Ø  IL&FS to sell 13 prime properties across three cities
Ø  Revival plan under govt's active consideration: BSNL
Ø  Venture investments up 69% at $16.4 bn in Q2



Ø  TCS Q2 net up 1.8% at Rs 8,042 cr; announces special dividend of Rs 40/sh
Ø  Telcos to get Rs 13,000-crore revenue boost for inter-connect user charges
Ø  Indian miners reject govt plan to link coal index to foreign prices: Report
Ø  64% farmers don't prefer cash transfer for fertilisers: NITI Aayog study
Ø  Vodafone Idea needs fresh round of equity infusion by 2021, say lenders
Business Line


Mint
Ø  Moody's cuts India's growth forecast to 5.8 per cent for FY20
Ø  DBT in fertiliser sales saved govt $1.54 billion: MSC
Ø  India’s engineering exports to China up 58% in Aug
Ø  Welspun India expects to be debt-free in five years
Ø  Gem, jewellery export dips 6% in September
Ø  Tata Steel sales down 4% in Sept quarter


Ø  Tata Motors global wholesales down 27% in Sept at 89,912 units
Ø  OPEC chief says deeper oil cut an option amid weaker 2020 outlook
Ø  Sebi comes out with framework for issuance of depository receipts
Ø  Half a dozen public sector banks cut lending rates by up to 0.25%
Financial Express


Dec can Chronicle
Ø  Strengthening cooperation in trade facilitation to help reduce trade gap with India: China
Ø  World Bank says 2019 Asia-Pacific growth to slow to 5.8% on trade tensions
Ø  ‘FDI rule violation’: Flipkart, Amazon top executives meet DPIIT officials
Ø  Online food delivery may touch $12.53 billion by 2023


Ø  Haldiram emerges sole bidder to buy insolvency-bound Kwality for Rs 130 crore
Ø  Piramal dispels rumours about financial business, files complaint with Sebi
Ø  Miners reject national coal index proposal
Ø  Larsen & Toubro Infotech faces racial bias suit in US

Daily news 10th oct

Economic Times


Business Standard

Ø  Reliance to resume Venezuela oil loadings
Ø  RBI rejects Indiabulls, Lakshmi Vilas merger

Ø  FM Sitharaman to meet CEOs of PSU banks on Oct 14
Ø  Jio users to be charged for voice calls for the first time
Ø  Airtel raises $750 million via perpetual bonds
Ø  US Fed increasingly divided on way ahead



Ø  RBI denies Bank of Maharashtra proposal for setting off Rs 7,360 cr losses
Ø  Mutual Fund investors look to exit market as equity inflows see 27% dip
Ø  Delhi HC asks Ranbaxy, Fortis' garnishees to deposit Rs 6,000 crore
Ø  Raymond sells 20 acre plot to real estate firm VRSA for Rs 700 crore
Ø  Power Ministry asks state to expedite reforms, advises to stick to PPAs
Business Line


Mint
Ø  India slips 10 places to 68th on global competitiveness index; Singapore on top
Ø  Global value chains can help developing countries improve growth outcomes: World Bank
Ø  Ashoka Buildcon bags Rs 314 cr project in Kerala
Ø  Glenmark’s generic drug to treat multiple sclerosis gets tentative nod from USFDA
Ø  Coal India hopeful of shrugging off rain impact, meet annual production target


Ø  Japan's PMDA issues GMP certification to Lupin's unit-2 Mandideep facility
Ø  Johnson & Johnson unit ordered to pay $8 billion over anti-psychotic drug
Ø  LIC says social media messages baseless, policyholders' money safe
Ø  Bharti Airtel raises $750 mn from overseas investors
Ø  Air India may raise loans against ₹2,500 crore GoI guarantee
Financial Express


Dec can Chronicle
Ø  NHB exposure in Dewan Housing Finance at Rs 24.35 billion
Ø  Trade wars lose US its competitiveness top spot: WEF report
Ø  Niti Aayog wants govt to buy 60,000 buses under a larger JNNURM
Ø  SBI lowers rates on non-repo-linked loans by 10 bps


Ø  Small ship is next big thing for $150 bn LNG biz
Ø  Banks cut lending, deposit rates
Ø  Sensex, Nifty snap losing streak ahead of earnings season
Ø  Rupee pares losses on hope of US-China trade deal; closes 5 paise down

call update 9th Oct, 2019

Buy Bank Nifty Fut above 28085

Sell Bank Nifty Fut Below 27810

First Short call initiated @ 27810..SL trig @ 28085.

Buy initiated at 28085 ..post that bank nifty made a high of 28989.95

Position squared off at 3.15 pm i.e @ 28861

Loss on short side (27810-28085) = loss of 275 points

Profit on Long side (28085-28861) = Profit of 776 points

Net todays profit - 501 points

Bank NIfty

Buy Bank Nifty Fut above 28085

Sell Bank Nifty Fut Below 27810

Asian markets trade lower

*Stocks in Asia trade lower amid US-China trade uncertainty*

▪Stocks in Asia slipped in Wednesday morning trade amid mounting uncertainty on the U.S.-China trade front ahead of expected high level negotiations between the two economic powerhouses later this week.

▪Washington expanded its trade blacklist to include some of China's top artificial intelligence firms on Monday, punishing Beijing for its treatment of predominantly Muslim ethnic minorities.

▪China's Ministry of Commerce said the U.S. should "stop interfering" in the country's internal affairs and "remove" the relevant entities from the list "as soon as possible."

▪Those latest developments cloud the outlook for the upcoming U.S.-China trade negotiations, set to kick off on Thursday amid the looming prospect of more tariffs from Washington on goods from Beijing.

Stocks in Asia traded lower Wednesday morning amid growing uncertainty over the high-level trade negotiations between the U.S. and China due to commence later this week. 

The Nikkei 225 in Japan slipped 0.84% in early trade, while the Topix index shed 0.7%. In Australia, the S&P/ASX 200 declined 0.9% as most of the sectors traded lower.

Overall, the MSCI Asia ex-Japan index shed 0.28%.

Markets in South Korea are closed on Wednesday for a holiday.

*US-China tensions*

Investors watch for market reaction to overnight developments in U.S.-China tensions. Washington expanded its trade blacklist to include some of China's top artificial intelligence firms on Monday, in response to Beijing's alleged treatment of predominantly Muslim ethnic minorities. For its part, China's Ministry of Commerce said the U.S. should "stop interfering" in the country's internal affairs and "remove" the relevant entities from the list "as soon as possible."

Those latest developments cloud the outlook for the upcoming U.S.-China trade negotiations, set to kick off on Thursday amid the looming prospect of more tariffs from Washington on goods from Beijing. The White House has scheduled an increase in U.S. tariffs on $250 billion worth of Chinese goods to 30% from 25% on Oct. 15. U.S. President Donald Trump has said the increase in duties will kick in if no progress is made in bilateral trade negotiations.

The protracted trade fight between the U.S. and China has already lasted for more than a year, with both parties slapping tariffs on billions of dollars worth of each other's goods, denting investor sentiment and raising fears over the outlook for the global economy.

Overnight on Wall Street, stocks tumbled amid the dented hopes for a U.S.-China trade deal. The Dow Jones Industrial Average plunged 313.98 points to close at 26,164.04 while the S&P 500 slipped 1.6% to end its trading day stateside 2,893.06. The Nasdaq Composite dropped 1.7% to close at 7,823.78.

*Currencies and oil*

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 99.088 after touching highs around the 99.2 handle yesterday.

The Japanese yen traded at 106.97 against the dollar after strengthening from levels above 107.3 in the previous session. The Australian dollar changed hands at $0.6729 after falling from levels above $0.675 yesterday.

Oil prices edged lower in the morning of Asian trading hours, with international benchmark Brent crude futures slipping 0.34% to $58.04 per barrel. U.S. crude futures declined 0.38% to $52.43 per barrel.

Daily news

*Economic Times*
*Business Standard*

Ø  Daiichi-Ranbaxy: HC asks Soami to deposit Rs 6,000 cr
Ø  White House eyes ways to limit capital flows to China
Ø  World suffering 'synchronized slowdown': New IMF chief
Ø  Amazon, Flipkart sales generate Rs 19,000 cr in 6 days
Ø  NBFCs may see another quarter of moderating profits
Ø  US using trade deals to shield tech giants from foreign regulations
Ø  IL&FS case: CVC intervenes in Sebi's probe of credit rating agencies
Ø  Sebi may liberalise norms for issuing offshore derivative instruments
Ø  State Bank of India expects double-digit uptick in corporate loans

*Business Line*
*Mint*

Ø  ECBs for working capital needs rise 10-fold in H1 FY20
Ø  Coking coal shipments rise 15% at 12 ports in Apr-Sep
Ø  Mineral exploration to help improve KIOCL’s revenue
Ø  GMR Energy in talks with JSW Energy for divesting stake in GMR Kamalanga
Ø  Minda to acquire Germany based lighting company Delvis Gmbh in multi-million Euro deal
Ø  HKEX abandons £29.6 billion bid for LSE
Ø  RBI not looking at liquidity facility for NBFCs: Dy Guv Vishwanathan
Ø  Multiples PE in talks to lead investment round in Kissht
Ø  Fintech start-up Shubh Loans gets NBFC licence from RBI
Ø  Deutsche Bank plans about half of 18,000 job cuts outside Germany

*Financial Express*
*Deccan Chronicle*

Ø  Supreme Court declines Oil Ministry request to stay sharing of documents on Reliance penalty
Ø  US, Japan sign trade agreements on agriculture and digital export
Ø  Good possibility of a trade deal with China, says Donald Trump
Ø  Mobile tower installation at 60% of annual target due to permission delays: COAI
Ø  US, Japan sign trade agreements on agriculture and digital export
Ø  Foodgrain output at 140.5 million tonne in FY20 on monsoon boost
Ø  Maruti cuts production for 8th straight month in September

OM-first post

Dear All,
This blog is for educational purposes only. I am just trying to share my views and not recommending to trade or invest. Please consult your financial advisor.