22 November 2018 News

November 22, 2K18

Economic Times

Ø  Yes Bank into Damage control mode, to meet on December 13
(Slight Positive for Yes Bank)

Ø  Foxconn aims to cut $2.9 Bn from Expenses in 2019
(Negative for Foxconn, Negative for Apple, as Foxconn is the Biggest Assembler of Apple Inc)

Ø  Birla flags concerns on High Spectrum payment to Govt
(Negative Sentiment Telecom Services Sector)

Ø  Ramdev's Patanjali is losing the race to lead India's FMCG
(Negative for Patanjali)

Ø  Mobile component makers to invest up to $2 Billion by March 2019. The unique number of factories in the segment have more than doubled to 268 in the current financial year. (Positive for the Mobile Components Sector)

Ø IDBI Bank hopes to be Profit by First Quarter
(Positive for IDBI Bank, LIC)

Ø  Panel Proposals will help solve issues: Power Secy
(Regulatory Statement)

Business Standard

Ø  NCLT could lose power to approve M&As in reform move
(Regulatory Aspects)

Ø  US court rules in favour of Dr Reddy's, allows sale of generic Suboxone (Positive for Dr Reddy's, Negative for Indivor PLC)

Ø India poised to topple Brazil as the world's biggest Sugar Producer (Positive for Sugar Industry)

Ø  IRDAI gives in-principle approval for IndiaFirst Life Insurance stake sale to private equity firm Warburg Pincus LLC (Positive for Bank of Baroda (44 % Shareholding), Andhra Bank (30% Shareholding))

Ø  FPIs pull out $900 mn from Indian Market on widening CAD in Sept Quarter
(Negative Sentiment)

Ø  CRISIL downgrades Passenger Vehicles' Sales forecast to 7-9% for FY19
(Negative for Auto Industry)

Business Line

Ø Reliance Jio to be service provider for Railways from Jan 1 (Positive for Reliance Industries, Reliance Jio)

Ø  WGC, MMTC-PAMP set up Gold Assaying Institute
(Positive for Gold)

Ø  Chinese Market brightens prospects for mustard 
(China Lifts Ban, Positive for Mustard Farmers)

Ø  Revenue Shortfall may put pressure on the Fiscal
(Negative Sentiment)

Ø ONGC Gas Production at all-time high of 70 mmscmd
(Positive for ONGC)

Ø  Vodafone Idea plans to invest Rs 27,000 Crore in FY20
(Positive for Vodafone Idea)

Mint

Ø  EU unveils Policy Paper on boosting ties with India
(Positive Sentiment for India)

Ø India Liquidity Crisis set to dent Heavy Truck Sales
(Negative for Commercial Vehicle Sector)

Ø  Bharat Gas, Unison Enviro Pvt. Ltd and Maharashtra Natural Gas Ltd to invest ₹8,000 crore for CGD in Maharashtra (Positive for these Companies)

Ø Global Growth to slow to 3.5% in 2019: OECD  (Negative Sentiment)

Ø Shapoorji Pallonji Group plans $1 Billion Share sale of Solar Unit (Positive for Shapporji Pallonji Group)

Financial Express

Ø  CGTMSE tweaks norms to improve Credit Guarantee Process (Positive for Micro and Small Enterprises)

Ø  Farm loan waivers lead to fewer Crop Insurance Policies (Regulatory Aspects, Slight Negative for Insurance Firms)

Ø  Digital lending to MSMEs to grow up to $100 Bn annually in 5 years
(Positive for MSMEs)

Ø  NET Telecom Secretary asks states to utilise Bharat Net infrastructure (Positive for BSNL)

Financial Chronicle

Ø  UltraTech to incorporate Binani Cement as Subsidiary (Positive for UltraTech, Binani Cement)

Ø  FinMin aims to rein in CAD at 2.2-2.3% with Lower Crude, Higher Rupee
(Positive Sentiment)

Ø  Half of India’s ATMs may close down by Mar ‘19 (Neutral)

Ø SREI PAT at Rs 111 Cr, up from Rs 86 Crore earned in the Corresponding Quarter last year. Bhutoria is the New CEO.
(Positive for SREI)



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