Business Standard :
Ø SBI Q2 profit slumps 40% YoY to Rs 945 cr
Ø India among 8 nations allowed to buy Iranian oil: US
Ø 'Steel sector growth may top GDP numbers'
Ø RBI slaps Rs 1 crore fine on Fino Payments bank
Ø NBFCs facing liquidity issues but no 'crisis': Srinivas
Ø Excessive competition can lead to stress: Jaitley
Ø Patanjali enters apparel space, eyes Rs 1,000 cr
Ø Tata Group in talks to buy a majority stake in Jet Airways: Report
Ø Fortis Q2 net loss widens to Rs 1.67 bn; margins improve sequentially
Ø Essar Steel operational creditors to move NCLT to seek Rs 50 bn of dues
Ø PNB Housing Fin Q2 profit up 33% to Rs 2.53 bn over high-interest income
Ø Lupin gets USFDA nod to market generic injection for kidney disease
*Mint :*
Ø Bosch Ltd plans buyback; profit jumps 19% to₹420 cr
Ø No anti-dumping duty on PTFE resin from India, China: USITC
Ø Torrent Pharma standalone net profit up 75%
Ø Power Grid Q2 profit rises 7.8% to ₹2,309.5 crore
Ø Two years after note ban, digital transactions show robust growth
Ø Plastics exports jump 31.6% in H1
Ø RIL’s ₹10,000 crore shopping spree for Reliance Jio, Reliance Retail
Ø Altico invests ₹650 crore in Renaissance Group’s warehouse project
Ø Aavishkaar plans to raise $300 million for South Asia fund
Ø Bharti Airtel’s African safari takes a curious turn
Ø SoftBank’s Kabir Misra’s fund to buy into Meesho, Acko
Ø ArcelorMittal’s Essar Steel win spells loss for Gujarat
*Financial Chronicle :*
Ø Services October PMI at 3-month high; 3 key things to know
Ø Airtel rolls out 'alternate e-KYC' in select circles for new connections
Ø China’s imports of goods, services to exceed USD 40 trillion in 15 years, says President Xi Jinping
Ø CPSE ETF: Another round of PSU divestment likely this month; govt looks to raise Rs 8,000 crore
Ø SFIO may summon IL&FS auditors for questioning to dig out accounting lapses
Ø Mutual Funds assets surged by 43.44% in last 2 years
Ø DHFL repays commercial paper worth Rs 1,775 crore
Ø TCS faces US jury over sacking of American staff
06.11.18 Economic News
👉CBIC exempt supply from PSU to PSU from applicability of provisions relating to TDS under GST.
👉CBIC clarifies that Tea Board of India falls in category of electronic commerce operator and is suppose to collect TCS as per GST Act
👉CBIC clarifies scope of Principal and Agent relationship in case of Del Credere Agent vide Circular No. 73/47/2018-GST dated 5th November 2018
👉Authority for Advance Rulings (AAR), West Bengal held that the Reimbursement of Toll Charges will attract GST.
👉Finance Ministry is eyeing about Rs 8,000 Crore through the launch of Follow-on Public Offer of CPSE Exchange-Traded Fund (ETF) by the end of this month. This would be the fourth tranche of the CPSE ETF, which comprises shares of 10 Bluechip Companies. In the earlier 3 tranches of the ETF, the Govt had raised Rs 11,500 crore.
👉MCA proposes more amendments in Companies Act which would be required to strengthen the corporate governance & enforcement framework. Suggestion/Comments on the proposed amendments along with justification in brief may be sent latest by 20th November, 2018 through email at comments_rbcao@mca.gov.in
👉Amazon is all set to buy 9.5% stake in Future Retail (Big Bazaar) through FPI Route. Amazon has already signed a term sheet and the deal will be announced after board approval on 14th November.
👉PNB MetLife India Insurance Company gets SEBI’s go-ahead for IPO
👉India's Plastics Exports posted a growth of 31.6% at $4.59 Billion during the period April - September 2018 (H12018-19) as against $3.48 Billion in same period during H1 2017-18, registering a faster pace of growth than the overall merchandise export growth from India
