5th October 2K18
Economic Times
Ø Govt cuts fuel prices by Rs 2.50 per litre
Ø Bio-CNG incentives to usher stubble based green projects
Ø Not resigning from Maruti board over IL&FS: Bhargava
Ø SUV, EV under Mahindra-Ford tie up soon
Ø Govt determined to contain IL&FS crisis: Jaitley
Ø Mayhem! Rs 3.31 lakh cr equity wealth wiped out
Ø RCom seeks 10 more days to settle Ericsson dues
Business Standard
Ø ICICI Venture in talks to buy stake in Micro Plastics
Ø IDBI Bank allots 339.9 mn preferential shares to LIC at Rs 61.73 apiece
Ø NBCC to float tenders to fast-track stalled Amrapali housing projects
Ø LIC makes open offer of Rs 126 bn to acquire 26% stake in IDBI Bank
Ø Bombay High Court rejects NSEL brokers' plea on de-registration from Sebi
Ø RIL out of $100-bn club as market cap slips to $96.5 bn, TCS lone member
Ø MF's AUM surges 14% to over Rs 24 trillion in Sept quarter
Business Line
Ø Govt notifies 10% LTCG tax on IPO/FPO gains
Ø BSE, NSE to suspend trading in Moser Baer from Oct 11
Ø India, Russia to sign economic agreements, discuss rupee-rouble payment mechanism
Ø Gross direct tax collection grows 16.7% to ₹5.47 lakh crore in April-September
Ø Varun group buys Vizag’s Taj Gateway
Ø SC allows ArcelorMittal, Numetal to clear dues to stay in race for Essar Steel
Mint
Ø IL&FS appoints Vineet Nayyar as managing director
Ø OMCs to complete $10 bn overseas borrowing in 1-year: Finance Ministry
Ø Chanda Kochhar quits as CEO of ICICI Bank, Sandeep Bakhshi to take over
Ø Mukesh Ambani richest Indian for 11th consecutive year: Forbes
Ø Govt may extend term of GST anti-profiteering watchdog
Financial Express
Ø SEBI appoints KPMG, Grant Thornton, 5 other entities to conduct forensic audits of listed firms for fraud
Ø Cabinet nod: MSP for rabi crops raised by 2-21%
Ø India Services PMI: Services growth slows in September, two usual suspects make imports costlier
Ø Spot power prices soar to 10-yr high
Financial Chronicle
Ø RoC to grill former IL&FC brass on fund management
Ø Strong US economy puts Asian currencies on skids
Ø Govt explores ways to cut imports, raise exports
Ø 17% rise in H1 tax collection boosts govt
Ø Modi, Putin to ink $5.4b deal for S-400 air defence
05.10.18 Economic News
👉Govt meets 39% of its Direct Tax Revenue Target in first six months Apr-Sept.; Net Collection Rs 4.44 Lakh Crore. Total Budget Estimates Target of Current FY is Rs 11.50 Lakh Crore
👉The Parliamentary Standing Committee on Finance decides to summon the Newly Appointed Chairman and Board Members of the debt-ridden Infrastructure Leasing & Financial Services (IL&FS), representatives of the LIC and SBI— both major stakeholders in IL&FS — and RBI Officials to appear before it on October 30 to explain the reasons for the mess
👉Bombay HC asks Central Govt. & GST Dept to Re-Open the Facility to file GST TRAN-1 to allow the tax payers to rectify the Human Typo Errors.
👉SEBI Empanels 9 CA firms including KPMG, Deloitte, Grant Thornton, Ernst & Young, Chokshi & Chokshi LLP, G D Apte & Co CA, JLN US & Co, Pipara & Co LLP and T R Chadha & Co LLP, for Conducting Forensic Audits of Financial Statements of Listed Companies to Check Frauds.
👉ICICI Bank MD and CEO Chanda Kochhar quits the bank with immediate effect, , Sandeep Bakhshi to succeed her as MD & CEO
👉LIC makes Rs 12,602 Crore Open Offer for 26% Stake in IDBI Bank at a price of Rs 61.73 per share
👉Union Cabinet approves the signing of a Memorandum of Understanding (MoU) between National Small Industries Corporation Ltd. (NSIC) of India and Russian Small and Medium Business Corporation (RSMB), to promote India-Russia cooperation in MSME
👉In view of the upcoming General Elections, the Govt. will come out with Interim Budget also referred as Vote-on-Account, likely on February 1, 2019. The Finance Ministry will kick off Budgetary Exercise for 2019-20 from October 12 in next week and hold the first meeting with Ministries of Steel, Power, and Housing And Urban Development to Finalise Revised Expenditure for the Current Fiscal and Projections for the next FY.
👉Non-banking finance company, Muthoot Finance gets SEBI’s In-Principle Approval to Start Mutual Fund Operations
