14th November 2K18
Economic Times
Ø Tata Steel Q2 profit jumps 3-fold to Rs 3,604 crore
Ø RBI to inject Rs 12,000 crore liquidity on November 15
Ø Ashok Leyland first set of EVs to hit roads in Jan
Ø Essel to sell up to 50% of promoter holding in ZEE
Ø Sun Pharma posts surprise Q2 loss of Rs 219 crore
Ø RBI needs to align capital adequacy norms
Business Standard
Ø Sebi tightens disclosure, review norms for credit rating agencies
Ø Reliance Infra wins Rs 161 million arbitration award against NHAI
Ø Tata Sons begins due diligence to buy debt-ridden Jet Airways: Report
Ø Hindalco to invest Rs 60 bn in downstream facilities in four years
Ø Allahabad Bank to raise additional Rs 18-19 bn to shore up capital adequacy
Ø Agritrade acquires SKS Power Generation in Rs 21.7 bn one time settlement
Business Line
Ø Attorney General in favour of imposing a cess on sugar
Ø Jet Airways in talks to sell stake in luxury unit
Ø Cotton crop estimate put at 373 lakh bales for 2018-19
Ø Consultancy drives RITES’ net profit up by 59% in Q2
Ø Ashok Leyland Q2 net jumps 37.50% to ₹459.50 cr
Ø NCC net zooms by 134% to ₹125 cr
Ø SoftBank commits another $3 billion in funding to WeWork
Mint
Ø IHH acquires controlling 31.1% stake in Fortis for Rs 4,000cr
Ø IL&FS board invites buyers for stake in two of its subsidiaries
Ø Bank of India posts ₹1,156 crore loss in Q2 on surging NPAs
Ø Mutual Funds SIP flow climbs 42% to Rs7,985 crore in Oct
Ø Jindal Stainless warns of import surge if China trade deepens
Financial Express
Ø NITI Aayog seeks more time to analyse GDP back series data; may release it by December-end
Ø India emerges as leading seed hub in Asia
Ø Adani gets SC nod to supply natural gas to three areas in Ahmedabad
Ø China’s biggest bank to invest $200 million in Indian SMEs
Ø US dollar hits 16-month high, yen boosted by risk-off sentiment
Ø Essar creditor moves NCLT against Arcelor
Financial Chronicle
Ø Tata Motors seen as most vulnerable to hard Brexit
Ø IndusInd calls off IL&FS Sec buyout
Ø NBFC crisis lowers CFO optimism to 19-qtr low
Ø India to rise from seventh largest economy to third by 2030
Ø India's solar capacity at 27.4 GW till September end: Report
14.11.18 Economic News
👉GST TRAN-1 Reopening to rectify Human Errors: Bombay HC to Re-Consider Petition if Govt do not consider Representation
👉SEBI tightens Disclosure and Review Norms for Credit Rating Agencies (CRAs) after they failed to warn investors in time about the deteriorating credit profile of IL&FS. The rating agencies will now need to disclose the liquidity position of the company being rated
👉Govt is likely to push for an easier PCA framework at the November 19, RBI board meeting, along with lowering of Capital Requirements to align them with Global Norms so that banks have an additional Rs 6 Lakh Crore to lend, giving an impetus to credit offtake and driving growth and job creation. Govt. wants RBI to bring down Capital to Risk (Weighted) Assets Ratio to 8%, in line with BASEL III norms, from 9% currently
👉RBI may seek to withdraw its nominees from the Boards of PSBs, reiterating its earlier stand, if the Govt. insists on loosening the Prompt Corrective Action (PCA) framework imposed by it on Stressed State-Run Lenders.
👉MCA amends Eligibility Qualification and Experience criteria for Registration as Valuer
👉Essar Steel auction: 29 operational creditors move NCLT against ArcelorMittal's offer
👉The Indian unit of China's largest bank, the Industrial and Commercial Bank of China (ICBC), sets up $200 Million Fund for investing in the promising Indian MSMEs. The ICBC, a top state-run Chinese bank which is the China's largest lender by market value, has opened its branch in Mumbai in 2011
👉Contrary to market expectations, Derivatives Turnover on the MCX and NCDEX registers an on-year growth of 53% and 32%, respectively, in October, despite the entry of biggies such as the NSE and the BSE, into the Commodity Derivatives Market
