27 November, 2018
✅ Corporate News with Analysis ✅
Economic Times
Ø Centre to Infuse Rs 42,000 Crore in PSBs by March 2019
(Positive for PSU Banks, other than PNB and SBI)
Ø Q2 GDP Growth likely to Slow to 7.5-7.6%, mainly due to slowdown in Rural Demand: Report (Negative Sentiment, esp for Rural Focused Firms)
Ø RBI can Transfer Rs 1-Trillion of Excess Reserves to Govt (Neutral, Regulatory Aspects)
Ø India set to miss 2018-19 Fiscal Deficit Target, due to Shortfall in Revenues and lower-than-targeted Disinvestment Proceeds: Ind-Ra
(Negative Sentiment)
Ø IL&FS claims over Dozen responses for its stake sale in IL&FS Securities Services, and ISSL Settlement & Transaction Services.(Positive for IL&FS)
Ø Rashtriya Ispat Nigam (RINL) plans to reduce its Iron-ore dependence on NMDC
(Negative for NMDC)
Ø IL&FS Transportation defaults on Interest Payment
(Negative for IL&FS Transportation)
Business Standard
Ø Telcos owe Rs 245 Bn as Spectrum Fee in 2019; Voda IDEA to pay Rs 122 Bn
(Negative for Vodafone IDEA)
Ø RBI reduces Hedging provision for external commercial borrowings to 70%
(Positive for Companies taking ECBs)
Ø YES Bank's Kapoor family repays Rs 4 billion to two MFs
(Positive for Yes Bank)
Ø SEBI issues Guidelines to set up alternative investment funds in IFSC (Positive Regulatory Aspects)
Ø India, China amend Double Taxation Avoidance Agreement to prevent evasion (Positive)
Business Line
Ø NITI Aayog working on ways to help Indian firms become Global Giants (Positive Sentiment)
Ø Aussie Company MoooFarm, to help 2 Lakh farmers hone dairy skills
(Positive for MoooFarm)
Ø Dip in Revenues may widen Fiscal Gap to 3.5% in FY19: Report
(Negative Sentiment)
Ø Banks may stay away from NBFC, HFC bonds under special window (Negative for NBFCs, HFCs)
Ø Mitsubishi Board meets to remove Chairman Ghos (Negative for Mitsubishi)
Ø Mirc Electronics to make TVs for Mukesh Ambani’s Reliance Retail (Positive for Mirc Electronics)
Mint
Ø Large Indian Firms must borrow 25% in Bonds from as early as 1 April: SEBI
(Regulatory Aspects)
Ø Centre moves SC seeking Rs 2,940 crore RCom Bank Guarantee over Spectrum
(Negative for RCOM)
Ø Govt moves to redraft direct tax laws to modernize Income Tax. The new direct tax law is expected to make Taxation more progressive, wherein the Tax burden will be higher on those with better payment capacity. (Regulatory Aspects)
Ø EU, India in Joint bid to fill vacancies at WTO Body (Positive)
Ø Sun Pharma to acquire Japan’s Pola Pharma for $1 million
(Positive for Sun Pharma, Pola Pharma)
Financial Express
Ø Demonstrators demand adequate supply of Coal to Odisha Industries (Neutral)
Ø New Power Record ! Power demand at all-time high in October
(Positive Sentiment)
Ø Gujarat signs MoUs with IAAI, CMAI to promote Textile Industry (Positive)
Financial Chronicle
Ø HEG Board okays Rs 750 Cr Share Buyback (Positive for HEG)
Ø NSE to launch weekly options on Dollar-Rupee on Dec 3
(Positive for NSE)
Ø Govt extends duty sops for Non-Basmati Rice Export
(Positive for Non Basmati Exporters)
Ø Urjit Patel faces grilling by house panel Today
(Neutral, Regulatory Aspects)
Ø NIIT Tech founders may sell 30% holding for a Premium
(Short Term Negative for NIIT Tech)
Ø Airtel Africa Appoints Eight Global Banks For IPO
(Positive for Airtel)
