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🇮🇳We Share the Most Updated News, Analysis, Please Contact at FinancialWisdomAdm@gmail.com for Feedback 🙏
🇮🇳Business News Headlines
Economic Times
Ø India's Utility-scale Solar installations declined 39% Y-O-Y in FY2021: Report
Ø Govt needs to revisit Import Duty on Chickpeas, Lentils: IPGA
Ø Tata Projects secures Rs 2,000 Crore order from Chennai Metro
Ø Govt targets to conclude ongoing CPSE Privatisation this fiscal
Ø Kotak Mahindra Bk arm buys 74% stake in HKR Roadways for 715 Crore
Ø RHI Magnesita's 2 Indian bizs merge with ORL
Business Standard
Ø Sebi proposes Merger of Debt Securities rules into single regulation
Ø IOC posts all-time high profit in FY21 of Rs 21,638 Cr versus year-ago loss
Ø S&P revises Outlook on Tata Motors to Stable on improving underlying demand
Ø NBFCs had objected to RBI rules on auditor change, called for expert panel
Ø Centre hikes fertiliser subsidy by 140%; farmers to get DAP at old rate
Ø Vedanta restarts medical oxygen production at Sterlite Copper plant
Business Line
Ø India, China, S Africa fared ‘relatively better’ than other Major Economies in Q1 of 2021: UN
Ø Dredging Corp wins ₹122.50-cr contract from Cochin Port Trust
Ø BDR Pharmaceuticals inks voluntary licensing pact with Eli Lilly for Baricitinib
Ø Nod for amalgamation of RHI Clasil, RHI India with Orient Refractories
Ø Pioneer Embroideries net up five times in Q4
Ø JK Tyre Q4 net at ₹195 crore
Mint
Ø Axis Bank: OFS of SUUTI oversubscribed four times on Day 1
Ø Indian, European refiners get ready to buy Iranian oil
Ø Crypto washout: Bitcoin plunges $30,000, market cap losses nearly $1 tn
Ø Sebi fines Biocon, its designated person for violating market norms
Ø High Street Essentials raises Rs25.5 crore in fresh funding
Ø JK Tyre Reports robust recovery in Earnings for March quarter
Financial Express
Ø India climbs to 3rd spot on EY index on impressive show by solar PV segment
Ø UK inflation more than doubles to 1.5% in April
Ø NBCC, Suraksha submit revised bids for Jaypee Infra
Business World
Ø Central Bank Of India Gets Shareholder Nod To Allot Rs 4,800-Cr Preference Shares To Govt
Ø CBIC Rationalises GST Refund Provisions, Allows Taxpayers To Withdraw Application
Ø India's Oilmeal Exports Jump 51 % In FY21
🇮🇳Business News Headlines
Economic Times
Ø WPI Inflation rises steeply to 10.49% in April
Ø India Inc Foreign Investment jumps Two-folds
Ø Apollo Tyres gets NABL Accreditation for Outdoor regulatory testing
Ø Reliance Jio joins Global Consortium to build undersea cable network
Ø Panacea Biotec files suit against Sanofi for Patent Infringement
Business Standard
Ø Apollo Hospitals, Dr Reddy's announce Vaccination Drive with Sputnik V
Ø AT&T to merge Media assets with Discovery in $43-billion deal
Ø Colgate-Palmolive India Q4 Net Profit jumps 54% to Rs 314.6 Crore
Ø Moglix raises $120 Mn in funds, joins India's growing unicorn club
Ø Adar Poonawalla exits Panacea Biotec; sells entire stake for Rs 118 Cr
Business Line
Ø MRPL posts ₹328 Crore Profit in Fourth quarter
Ø DRDO’s Anti-Covid drug to hit the market in June
Ø Average E-way Bill generation dipped in May to 12.15 Lakh
Ø Franklin Templeton gets ₹1,261 Crore in six debt schemes
Ø TVS Motor Scooter Ntorq’s international sales cross 1 Lakh units
Ø Pine Labs raises $285 Mn in new funding round
Mint
Ø S&P Dow Jones Indices is fined by SEC over US 'volatility' crash
Ø RBI remains net seller of US Dollar in March; sells $5.699 bn
Ø Elon Musk loses World's Second-richest ranking as Tesla dips
Ø Actis eyes majority stake in Fortum’s solar projects
Ø MFs increase holdings in key Index heavyweights in April
Ø World Economic Forum cancels Singapore meeting as pandemic haunts Global Event
Financial Express
Ø Gold Schemes fetch Record Rs 20,227 Crore in FY21
Ø Pine Labs raises $285 Million in fresh funding
Ø KKR to invest $95 Million in Lenskart
Business World
Ø Bharti Airtel Posts Rs 759 Cr Profit For Jan-Mar
Ø India Loses Farzad-B Gas Field In Iran
🇮🇳Business News Headlines
Economic Times
Ø Moody's cuts India's GDP Growth forecast to 9.3 % from 13.7 % for fiscal 2021
Ø Ambitious target of $400 Bn Exports can be achieved this year: Piyush Goyal
Ø Jio pips Airtel in February user adds, Vi adds subs after 15 Months: TRAI
Ø Microfiance sector seeks RBI's additional support to combat COVID-19 Second wave
Ø Tata Motors reviewing CCI Order on probe against commercial vehicle business
Ø Indian oil refiners cut processing, imports as pandemic reduces demand
Business Standard
Ø Nomura cuts FY22 GDP Growth estimate to 10.8% due to Covid lockdowns
Ø Sebi plans to ease Post-IPO lock-in for promoters, amend key definition
Ø Analysts downgrade IndiGo as second Covid wave weakens outlook
Ø Govt ready for another cut in import duty on steel to tame prices
Ø Sebi makes dividend distribution policy must for top 1,000 listed cos
Ø KFIN Tech buys 17% stake in Artivatic.ai, gets foot into insurtech space
Business Line
Ø JSW Hydro Energy raises $707 Million via maiden green bond
Ø India Inc records 161 deals in April
Ø India’s renewables growth halved to 5.62 GW in 2020
Ø Chola MS Insurance posts ₹374-crore PBT in FY21
Ø NYSE-listed Startek prunes net loss to $12.2 million in first quarter
Ø Granules India Q4 net up 38 % at ₹128 Cr
Mint
Ø Sebi proposes rationalising 'Promoter group' definition'
Ø Mahindra expects 15-20% fall in Q1 Sales due to second covid wave
Ø Blackstone-backed Sona BLW receives SEBI nod for Rs6,000 crore IPO
Ø Cairn Energy says steps to realise arbitration award against India being taken
Ø Mark Mobius says inflation threat won’t go away anytime soon
Ø Jaypee Infra insolvency: NBCC submits revised bid
Financial Express
Ø India contracts for 56 lakh tonne sugar export; to conclude deals for rest 4 lakh tonne soon: AISTA
Ø Groww to acquire Indiabulls MF for Rs 175 cr
Ø JSW Steel’s crude steel output jumps to 13.71 LT in April
Business World
Ø Ruchi Soya To Acquire Biscuits Biz From Patanjali Natural Biscuits For Rs 60cr
Ø Rupee Pares Losses To Close Flat At 73.34 On Dollar Sale By Exporters
Ø Gold Declines Rs 212; Silver Tumbles Rs 973
🇮🇳Business News Headlines
Economic Times
Ø RBI turns focus to Small borrowers, allows another Loan Recast
Ø Cabinet approves Strategic Disinvestment in IDBI Bank
Ø Govt eases Procedure for import of Oxygen cylinders, Cryogenic tankers
Ø CCI orders probe against Tata Motors for alleged unfair biz practices
Ø Andhra decides to sell stake in Gangavaram Port to Adani for Rs 645 cr
Ø Ceat to make a fresh investment of Rs 1200 crore in truck and bus plant
Business Standard
Ø India's services growth slowed to 3-month low in April, input costs soared
Ø RBI announces loan relief, Rs 50,000 cr liquidity to tide over Covid
Ø Saudi Arabia cuts oil prices for Asia as virus hits India demand
Ø Asian equities see foreign investment inflows for first time this year
Ø Tata Steel posts profit of Rs 6,644 cr in Q4; declares dividend of Rs 25
Ø Supreme Court defers hearing Amazon, Future case amid Covid-19 surge
Business Line
Ø India will sail through the Covid storm, says Finance Minister
Ø Adani Airport becomes the largest airport company; caters 10% of India's traffic
Ø Income Tax department notifies exemption for four Canadian Funds
Ø Hikal in 10-year multi-product deal with global player
Ø Ease import of pharma inputs: AP Industries Min to Centre
Ø DoT clears 5G trials sans Chinese vendors
Mint
Ø Adani Green Energy Q4 net profit rises over 8% to ₹105 Crore
Ø Canada authorizes Pfizer vaccine for for children from 12 to 15 age group
Ø Serum Institute of India leads cross-sector Indian investments into UK
Ø India accounts for 46% of world's new Covid-19 cases, 25% of deaths: WHO
Ø Galaxy Digital to buy BitGo in crypto sector’s first $1 billion deal
Financial Express
Ø S&P: Second COVID wave may derail India’s budding recovery; 8.2-9.8 pc GDP growth in diff scenarios
Ø Indian Bank declares Saravana Stores account as fraud
Business World
Ø Adani Enterprises Q4 Net Profit Up 282% To Rs 233.95 Cr
Ø Sensex Rallies 424 Pts On RBI Announcements; Financial Stocks Shine
🇮🇳Business News Headlines
Economic Times
Ø Acre ARC set to purchase Indiabulls assets
Ø Banks need to adopt digitisation or else they will perish: Ex-finance Secretary SC Garg
Ø Labour Min hikes Maximum sum assured payable under EDLI scheme to Rs 7 Lakh
Ø ICICI Bank launches merchant stack platform
Ø Unemployment rate likely to be 8% compared to 6.5% in March in India: CMIE
Ø India urges China to clear bottlenecks on key pharma raw-material
Business Standard
Ø Ambuja Cements consolidated Q4 PAT at Rs 947 Cr, up 71% YoY on higher sales
Ø Govt looking to monetise possible IT parks, SEZs developed on PSU land
Ø Unilever plans $3.6 Billion buyback as China and home cooks boost growth
Ø Most Indian companies protected against weakening rupee: Moody's report
Ø HUL Q4 PAT jumps 41% YoY to Rs 2,143 Crore, beats Street estimates
Ø Auto firms to halt production for up to 15 days amid raging second wave
Business Line
Ø Lockdowns spell a downside risk for electricity demand growth in FY2022: ICRA
Ø RBI to conduct first special OMO of FY22 on May 06
Ø Niraj Bajaj to take over as Chairman of Bajaj Auto
Ø Zomato revenue up at ₹2,604 Crore in FY20
Ø Biocon Biologics posts 53% growth in revenues at ₹664 Crore for Q4FY21
Ø Indian Pharma hit hard by China’s suspension of cargo flights
Mint
Ø Shriram Transport net profit jumps 238% to Rs755 Crore in March quarter
Ø Sebi extends results filing deadline for Indian firms due to Covid-19
Ø L&T Finance Q4 net profit falls 31% to Rs267 Crore
Ø PowerGrid’s first InvIT public offer subscribed 10% on day one
Ø Titan Q4: Net Profit jumps 48% to ₹529 Crore
Ø CCI clears Tata’s acquisition of BigBasket
Financial Express
Ø Govt allows import of medical devices like oxygen canister for 3 Months with riders
Ø Bajaj Finserv Q4 Profit jumps four folds to Rs 979 Cr
Ø Indian gold demand likely to slow down in April-June: WGC
Business World
Ø Bank Of Maharashtra Net Profit Jumps To Rs 165 Cr In March Qtr
Ø Laurus Labs Q4 Net Profit Zooms Nearly 3-Fold To Rs 297 Cr
Ø Portfolio Manager To Obtain Prior Approval Of Sebi In Case Of Change In Control
🇮🇳Business News Headlines
Economic Times
Ø Cost to cover default risks goes up for banks
Ø ONGC says want foreign partners in new fields
Ø Reliance, Saudi Aramco discuss cash and share stake deal: Report
Ø FinMin relaxes COVID-relief material import norms for Indian Red Cross
Ø Maruti Suzuki advances scheduled maintenance shutdown to May to make oxygen available for medical needs
Ø Second COVID wave likely to peak in India in June, says CLSA
Business Standard
Ø India's GDP to grow at 11% this fiscal, economic recovery at risk: ADB
Ø SBI board to consider raising $2 billion through bonds in 2021-22
Ø Minimum 20% key AMC employee compensation to be in mutual fund units: Sebi
Ø Zomato eyes raising $1.1 bn through initial public offering, files DRHP
Ø KPIT Q4 net profit rises 23.6% YoY to Rs 47 cr, revenue dips 3.8%
Ø Bombay HC stays investigation under FIR against Indiabulls Housing
Business Line
Ø Morepen Group seals ₹750-cr investment
Ø Resurgence in Covid-19 to dampen pace of recovery for India Inc: ICRA
Ø Linde India embarks on two operations to ease oxygen supply for Covid-19 patients
Ø CPCL back in black with ₹238-cr profit in FY21
Ø Petronet LNG plans bunkering services to ocean going ships from its Kochi terminal
Ø Samsung family to pay about $10.8 billion in taxes related to inheritance
Mint
Ø Fed strengthens view of economy while keeping rates near zero
Ø US stock ETF inflows of $246 bn already top all of last year
Ø Investor wealth jumps over Rs6 trillion in three days of market rally
Ø S&P hints at possible downgrade of India GDP projection
Ø No more kebabs for bitcoins as Turkey's crypto-payment ban looms
Ø Reckitt reports double-digit growth in India health business
Ø Venture firms bask in a surge of blockbuster profits
Financial Express
Ø India imposes anti-dumping duty on chemical from 4 regions
Ø India, Australia, Japan trade ministers’ meet riles China
Ø RBI Committee on ARCs invites views, suggestions from stakeholders by May 31
Business World
Ø Sebi Bans 3 Entities In Infibeam Avenues Insider Trading Case
Ø Steel Plants Supply 3,650 Tn Oxygen To Hospitals On Tuesday
Ø IATO Seeks PM's Intervention To Remove Anomalies In Operational Guidelines Of ECLGS
🇮🇳Business News Headlines
Economic Times
Ø Oil Ministry tells ONGC to sell Oilfields; hive off drilling, Other Services
Ø Richer nations in Asia-Pacific may recover faster than poorer counterparts post pandemic: Report
Ø India's top life insurers - LIC, ICICI, HDFC, SBI - are set to Invest in InvITs, REITS
Ø UK sending 'vital medical equipment' to India to aid Covid fight
Ø DPIIT's control room started working from April 24; gets 12 queries on day one
Ø Morepen Labs betting big on diagnostics devices segment: CMD
Business Standard
Ø RIL in talks with VRV Asia Pacific to buy tankers for liquid medical oxygen
Ø Commercial viability alone must drive bank stakes in insurance: IRDAI Chief
Ø GoAir bets on ultra-low-cost carrier model to consolidate market position
Ø Samsung unit considers $673 million solar power plants in Texas -documents
Ø Green certificates trading shrinks to 920,000, 6 mn inventory piles up
Ø Big groups plan O2 storage, transport; PM Cares Fund for 551 Plants
Business Line
Ø ITC to airfreight oxygen containers from Asian countries
Ø SP Group files review petition before Supreme Court
Ø DBS in ‘advanced talks’ to buy Citi’s consumer banking business in India
Ø Franklin Templeton investors to get ₹2,000 cr next month
Ø Srei Infra appoints KPMG as forensic auditor for its debt restructing plan
Mint
Ø State-run oil firms to set up Medical Oxygen generation plants at 93 Locations
Ø HCL Tech to shift workload from India to deal with Covid-19 surge
Ø Credit Suisse’s $5.5 billion Archegos hit enters big league of bank losses
Ø 100 million first-time borrowers likely to apply for loans every year: Cibil
Financial Express
Ø Over 81pc wheat area harvested; pulses & oilseeds harvest over amid pandemic: Govt
Ø Steel makers produce 3,474 ton/day Liquid Oxygen, more than Capacity
Business World
Ø Bharat Biotech Announces Covaxin Prices; Rs 600 For State Govts, Rs 1200 For Pvt Hospitals
🇮🇳Business News Headlines
Economic Times
Ø Care Ratings revises India's GDP Growth forecast to 10.2 % for FY22
Ø Consumer Confidence weakens in April: Survey
Ø ReNew Power commissions 105 MW Solar Project in Gujarat
Ø Tata Steel & HSBC execute a blockchain-enabled, paperless trade transaction
Ø Hero MotoCorp tied up with Gogoro Inc for electric mobility solutions
Ø VAV Lifesciences to supply key COVID vaccine ingredient to Pfizer, Moderna
Business Standard
Ø LIC paid Rs 1.34 Trillion as claims to Policyholders in FY21, marking Growth
Ø Discoms overdues falls by over Rs 151 Bn to Rs 740 Bn in Mar: Report
Ø Industry ready to strengthen capacity, back-end infra despite second wave
Ø IndiGo to acquire four A321ceo planes, convert them into freighter aircraft
Ø DCB Bank acquires equity stake in Bengaluru-based Techfino Capital
Ø Merger of TV18 Broadcast, Hathway, Den Networks into Network18 called off
Business Line
Ø Insurers eye increase in third party motor premium
Ø Vedanta offers Medical Oxygen from shuttered Sterlite copper plant
Ø Phillips Carbon Black net jumps 76% in March quarter
Ø KEC International wins new orders worth ₹1,245 crore
Ø Finance Minister assures “seamless supply” of medical oxygen to States
Ø Tech Mahindra acquires DigitalOnUS for $120 Million
Mint
Ø Bharat Biotech's Covaxin shows 78% efficacy in phase-3 interim analysis
Ø ICICI Securities March quarter profit jumps two-fold to Rs329 crore
Ø Canara Robeco Mutual Fund to launch focused equity fund
Ø Tiger-backed KredX to ramp up disbursements to Rs1,000 cr this fiscal
Ø Chinese Edtech Startup Zuoyebang plans US IPO to raise $500 million
Financial Express
Ø India ranks 87th in Global Energy transition index
Ø Indian Gas Exchange commences gas trade from 2 new hubs in Maharashtra
Deccan Chronicle
Ø NPAs Of State-Owned Banks May Cross 18 % In Extreme Case Scenario: RBI Ex-Deputy Governor Khan
Ø Private Life Insurers' New Premium Income Grows 8 % In FY21
🇮🇳Business News Headlines
Economic Times
Ø US Treasury report designates India a currency manipulator, due to huge dollar purchases
Ø Pandemic Impact: Loan pool sales halve in FY 2021 - Crisil
Ø India's Y-O-Y Export of Oilmeal jumps 82% in March 2021
Ø India to fund capacity boost at Serum Institute as vaccines run short: Source
Ø Second Covid wave impacting two-wheeler sales harder: Report
Ø India may build new coal plants due to low cost despite climate change
Business Standard
Ø ACC consolidated Q4 PAT up 74% to Rs 563 Cr on highest ever revenue surge
Ø Covid hurts working cap, top-500 cos' cash cycles stretched by 6 days: EY
Ø 'FTP benefits are available against settlement of claims by ECGC'
Ø RBI constitutes six-member panel headed by former ED to review ARCs
Ø Global steel price surge leaves scope for hike in domestic market
Ø Drug maker Caplin Steriles gets USFDA approval for an injection
Business Line
Ø Corporate funding in solar sector up 21% at $8.1 b in Q1 2021: Mercom Capital
Ø IFFCO to set up 4 oxygen plants in next 15 days at ₹30 crore
Ø BPCL-Kochi Refinery starts supply of medical oxygen to govt hospitals
Ø Bajaj Consumer posts over two-fold jump in Q4 profit at ₹55 cr
Ø Coca-Cola posts strong Q1 growth in India
Ø Druva raises $147 million to extend its market leadership
Mint
Ø Govt rolls out Rs945 crore Seed Fund scheme to support early-stage startups
Ø National lockdown can dent GDP growth by 2%: Report
Ø RBI sets up committee to review ARC regulations
Ø Indian Oil provides oxygen to Delhi, Haryana, Punjab hospitals for free
Ø DII net buyers of shares for second month in a row in April
Ø L&T completes 75 years of construction, mining machinery business
Financial Express
Ø New Covid surge may upend fuel demand recovery
Ø SC stays proceedings before Delhi HC in Amazon Future case
Business World
Ø ESAF Small Finance Bank Raises Rs 162 Cr Via Preferential Allotment
Ø HCL Tech Inks Multi-Million Dollar Deal With UD Trucks
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🇮🇳Business News Headlines
Economic Times
Ø Private Equity inflows in India Realty up 19% in FY21, Portfolio deals lead
Ø Coal India fuel allocation under spot e-auction rises 36% in Apr-Feb 2020-21
Ø Maruti logs highest ever sales of CNG cars at 1.57 Lakh units in FY21
Ø A $12.5 Billion deal shows Saudi oil still eclipses all else
Ø Apollo to ship tyres from Chennai and Hungary for US/Canada markets
Ø Religare Finvest to default on NCD payment
Ø Dr Reddy's working on Sputnik's stability data
Business Standard
Ø Bharti Airtel to merge digital arm with itself in Corporate Revamp
Ø Infosys Q4 net dips 2% sequentially, announces Rs 9,200 Cr share buyback
Ø JSW Steel completes acquisition of 31% Stake in Italy's GSI Lucchini SpA
Ø SIP collections drop to Rs 96,000 cr in FY21 amid pandemic-led disruptions
Ø Housing sales increase by 20% in January-March: 99acres com report
Ø GE Power India to acquire 50% equity stake in NTPC GE Power Services
Business Line
Ø Future Enterprises defaults on payment of interest on NCDs
Ø Gujarat APMC yards suspend trading to tackle Covid second wave
Ø WTO DG sets July target for pact, India insists on special treatment
Ø Amazon moves SC against Delhi HC stay order restraining Future Retail
Ø CCI nod for Adani Ports’ acquisition of 89.6% stake in Gangavaram Port
Mint
Ø HDFC Bank to raise up to ₹50,000 Crore via Private Placement of Bonds
Ø Insurtech startup Nova Benefits raises $1 Million in fresh funding
Ø IFC to invest $100 Mn in JC Flowers India fund to help resolve NPAs
Ø MFs increased fund allocation in domestic cyclicals, IT in FY21
Ø Office leasing in 7 Cities falls 48% in Jan-Mar: Report
Ø Aditya Birla Capital, Sun Life to sell 13.5% stake in asset management biz IPO
Financial Express
Ø Centre’s tax revenue grows in pandemic year
Ø India, EU to resume formal FTA talks in May
Ø India’s palm oil imports rise 56.50 % in March
Deccan Chronicle
Ø Govt To Sell 20 % In NFL, 10 Pc In RCF Via Offer For Sale
Ø NCLAT Says Lenders Cannot Treat Telcos' Spectrum As 'Security Interest' Under Insolvency Proceedings
🇮🇳Business News Headlines
Economic Times
Ø Govt may hike FDI limit in Pension Sector to 74%; Bill likely in Monsoon Session
Ø Partial Lockdown measures could impact Movement of Labour, Goods : CII Survey
Ø Govt to complete 5 Surveys in 7 Months on jobs: Labour Bureau DG
Ø Bridgestone India unlocks 7 million euros in 9 months, helped by digital Payment platform Freepay
Ø Tata Sons build marketplace for SMEs
Ø RMZ raises Rs 1,500 Crore from Canada Pension Plan Investment Board
Business Standard
Ø Vedanta Group in talks with Govt to set up Display Fabrication unit
Ø Infosys to consider share buyback on April 14, announce FY21 Results
Ø Govt's move to inject Rs 14,500 Cr in 4 PSBs won't raise tangible equity
Ø Microsoft in talks to buy Nuance Communications for about $16 Bn: Report
Ø InsuranceDekho may have got Rs 1,200 Cr in premium in FY21: Co-founder
Ø Franklin Templeton unitholders to get Rs 2,962 Cr in second tranche
Business Line
Ø India becomes largest buyer of US crude in first quarter of Calendar year 2021
Ø Exports surge 297% in the first week of April
Ø India's Power consumption grows nearly 47 per cent in first week of April 2021
Ø Indian Apparel Industry eyes collaboration with Global suppliers of man-made fibre
Ø Arbitration case: Cairn to forego $500 Million if India agrees to pay Principal due
Mint
Ø SBI collects ₹300 Cr from zero balance accounts for certain services in 5 yrs
Ø Mutual fund assets gain 41% in FY21: Crisil report
Ø Future Retail may get 2-yr Relief on Loan Repayments
Ø Myanmar Economy may shrink up to 20% as Crisis looms
Ø JC Flowers is highest bidder for SIL’s debt
Ø Centre prohibits export of Remdesivir injection and Remdesivir API
Financial Express
Ø Large CPSEs post record capex of 4.6 Lakh Crore in FY21
Ø Over Rs 35,000 Crore Export aid held up amid Trade Recovery
Ø IMF warns on rising debt risks in virus-hit Middle East, Central Asia
Deccan Chronicle
Ø Ambuja Cement's Strategic Plan On Track To Expand Capacity To Reach 50 MTPA
Ø FM Urges World Bank Group To Sustain Crisis Response To Mitigate COVID-19 Impact
🇮🇳Business News Headlines
Economic Times
Ø Investment by NRIs in Real Estate expected to rise to USD 14.9 Billion in FY22
Ø Govt raises Rs 32,853 Cr through G-sec Auction; Highest weekly market borrowing in 11 Months: Report
Ø Maharashtra Government considers Rs 187 Crore Transport Subsidy to Sugar mills
Ø Hero Cycles in talks with Slovakia Company for e-bike facility
Ø Mini-lockdown may affect Microfinance institutions' collections: Crisil
Ø LG India reports its highest ever quarterly revenue in Jan-Mar at Rs 5500 Crore
Ø FSSAI all set to launch one-stop digital portal for new licensing
Ø Railways equipped to run more trains if demand increases: Railway Board Chairman Suneet Sharma
Ø As lockdown bites, transporters brace for revenue loss of $2.4 Billion
Ø Impossible Foods in talks to list on the stock market: Sources
Business Standard
Ø Net Direct Tax mop-up exceeds revised estimates at Rs 9.45 Trillion in FY21
Ø Coal India firms up Rs 40,000 Crore domestic coal evacuation plan
Ø Delivery start-up Dunzo eyes unicorn status, seeks $150 Million funding
Ø Morgan Stanley India Infra invests $21 Mn in Connectivity solutions co iBus
Ø L&T's arm bags order to set up Solar Power project in Saudi Arabia
Ø True North sells Policy Bazaar stake to Serum Institute, four others
Ø Startup PumPumPum gets Rs 5.5 Cr to expand used car leasing business
Ø India's foreign exchange reserves drop by $2.4 Billion to $576.8 Billion
Ø FM reviews Covid-19 Vaccine progress in finance, corp affairs ministries
Ø DoT notice to Vodafone Idea over non-payment of licence fee for Q4
Ø India's fuel consumption declined to a four-year low in fiscal 2020-2021
Ø IBBI upholds resolution professionals' independence under pre-pack schemes
Ø Vehicle registration fall 28.64% YoY in March despite low base: FADA
Financial Express
Ø Govt proposes to relax rooftop solar norms
Ø South Indian Bank total deposits slightly down at Rs 82,710 Cr
Ø Embassy group in talks with Blackstone to sell warehouse biz for Rs 1,800 Cr enterprise value
Ø After Facebook, LinkedIn confirms data breach; personal details of 500 Million users leaked
Ø UCO Bank plans to set off Rs 12,537 cr accumulated losses against share premium a/c balance
Ø Speciale Invest raises Rs 120 cr as part of new fund for early-stage startups
Ø Govt keeps nutrient-based subsidy for P&K fertilisers unchanged for FY22
Ø Singapore ratifies mega free trade agreement RCEP
Ø Second wave of COVID infections poses increased risks for fragile economic recovery, banks: Fitch
Ø Zaid crops sowing up 16.49 % so far this year: Govt
Mint
Ø Steel Industry set to report record sales growth in Q4
Ø Tricot Investments sells Timken India shares worth over ₹152 Crore
Ø Jeep India partners with Axis Bank, launches Jeep Financial Services
Ø Drug Regulator seeks more data from Dr.Reddy's on Sputnik V Covid-19 Vaccine
Ø Tanishq eyes bigger share of wedding jewellery market
Ø Japan imposes new virus measures in Tokyo ahead of Olympics
Ø Lodha Developers' IPO subscribed 103% on final day of bidding
Ø US adds Chinese supercomputing entities to Economic blacklist
Ø Rupee slumps to eight-month low of 74.97 against US dollar
Ø Telco bundles to contribute 50% to online viewers by 2023
Ø Alteria Capital makes first close of Fund II at ₹1,325 Crore
🇮🇳Business News Headlines
Economic Times
Ø RBI to set up task force to review working of asset reconstruction companies
Ø IRDAI issues draft Guidelines on Trade Credit insurance
Ø Tata Power Solar doubles manufacturing capacity to 1100 MW
Ø Supporting growth paramount for RBI now: Shaktikanta Das
Ø Goldman-backed ReNew to invest $9 Billion on India’s green push
Ø Spectrum-trading pact: Airtel monetises unused airwaves, Jio saves $400m
Business Standard
Ø RBI keeps repo rate, reverse repo rate unchanged at 4% and 3.35%
Ø Cabinet approves Rs 6,238 Crore PLI scheme for air-conditioners, LED lights
Ø Information Technology spending in India to reach $93 bn in 2021: Gartner
Ø Japan's Toshiba Corp considers $20 Billion take-private deal: Report
Ø US trade deficit jumps 4.8% to record $71.1 billion in February
Ø Vedanta open offer subscribed just 58% after failed delisting bid
Business Line
Ø Economy likely to rebound strongly in 2021-22: RBI
Ø Despite the pandemic, Alang beached 187 Ships for Recycling
Ø HDFC invokes RPower shares
Ø Rage Coffee raises funds from investors led by Refex Capital
Ø Trifecta Capital files for ₹1,500 Crore late stage VC Fund
Ø Steel Strips Wheels bags orders worth ₹42 Cr from US, EU markets
Mint
Ø IL&FS sells environment business, to pare ₹1,200 crore of debt
Ø Macrotech Developers IPO subscribed 26% on the first day of bidding
Ø Mobile makers invest ₹1,300 cr under PLI Scheme in 2020 Dec qtr: Govt
Ø Redis Labs raises $110 Million led by Tiger, valuation doubles to $2 billion
Ø JSPL eager to build container manufacturing unit in Paradip
Financial Express
Ø IMF lifts China’s GDP to 8.4 %, but Gita Gopinath says Growth unbalanced
Ø RBI retains GDP growth forecast at 10.5 % for FY22
Ø Rajesh Exports bags Rs 745 Cr order from Germany
Deccan Chronicle
Ø RBI targets 5.2 % Retail Inflation for first half of FY22, repo rate unchanged
🇮🇳Business News Headlines
Economic Times
Ø ICRA warns of significant jump in bad loans in current fiscal year
Ø U.S. Service Sector activity index jumps to record high in March: ISM survey
Ø Housing Sales up 44 % in January-March 2021 across 8 Cities: Report
Ø J.P. Morgan ties up with BillDesk for online payments partnership
Ø NCL supplies 87 % of Total Coal to Power Producers in FY21
Ø JSPL reports a 20% rise in annual sales for FY 21, production up by 19% year-on-year
Ø Radiance buys Azure's 152 MW solar rooftop assets
Business Standard
Ø India attracts over $72 bn FDI in Apr-Jan FY21; Japan leads the list: Govt
Ø Bank of India to allot preferential shares to govt for Rs 3,000 crore
Ø Oil prices drop below $64 as rising OPEC+, Iranian output weighs
Ø Byju's acquired Aakash Edu Services for nearly $1 bn over a Zoom call
Ø CareerLabs raises $2.2 mn from Rocket Internet's VC fund GFC, others
Ø US FDA nod to Teva for key specialty product to weigh on Sun Pharma
Ø HDFC Bank's advances grow 14% YoY in Q4; sequentially up 4.6%
Business Line
Ø Manufacturing PMI falls to 7-month low of 55.4 in March
Ø Marico expects low double-digit bottomline growth in Q4 of FY21
Ø Radiance Renewables acquires solar rooftop assets of Azure Power for ₹536.5 crore
Ø CareerLabs secures $2.2 million in new financing round
Ø BEL bags 12 Green Channel Certificates for 41 products
Ø iD Fresh Food revenue up 23.5% at ₹294 Crore in FY21
Mint
Ø Govt amends insolvency law; introduces pre-packaged resolution process for MSMEs
Ø NHAI files draft prospectus for first InVIT; plans to raise at least ₹5,100 cr
Ø India well-armed to combat downside risk of second covid wave: Finance Ministry
Ø Russia’s revival is an opportunity for EM investors
Ø Shriram Properties to file draft papers for ₹800 crore IPO
Financial Express
Ø RBI’s MPC starts deliberating on next monetary policy
Ø Sugar sales hit due to Covid-19; Cooperative mills seek more time to clear unsold quota: NFCSF
Deccan Chronicle
Ø Adani Ports acquires residual 25 % Stake in Krishnapatnam Port for Rs 2,800 Cr
Ø LG to exit loss-making mobile phone business worldwide
🇮🇳Business News Headlines
Economic Times
Ø Importers to make prior disclosure to Customs to avail Concessional Duty on goods: CBIC
Ø Real Estate developers expect recovery in H2 2021
Ø Indian firms show deteriorating Business Performance in Q4 of FY21: Report
Ø CESL to procure 300 Electric Vehicles from Tata Motors
Ø HC asks FRL to respond to Amazon's plea to enforce emergency arbitrator's award
Ø BlackSoil Capital exits 15 investments with 18% returns in FY21
Business Standard
Ø Govt to sell nearly 2% SUUTI stake in Axis Bank, may get Rs 3,969 cr
Ø Tata Motors reports surprise loss of Rs 7,605 cr in Q4; revenue up 42%
Ø Walmart beats Street estimates for sales on stimulus spending boost
Ø Oil hits $70 for first time since March 15 as Europe, US re-open economies
Ø CCI approves sale of YES Bank's MF subsidiaries to GPL Finance
Ø Canara Bank reports Q4 Profit at Rs 1,011 Crore on lower provisioning
Business Line
Ø Finance Ministry hopes pent-up demand to boost recovery this fiscal
Ø AT&T to merge WarnerMedia and Discovery in $43-b deal
Ø Gland Pharma Q4 net profit up 34% to ₹260 crore
Ø Brigade Enterprises posts ₹19.58-cr Q4 profit
Ø CCI approves APSEZ buying residual stake in Krishnapatnam Port
Ø Torrent Pharma Q4 net up 3 per cent at ₹324 crore
Mint
Ø Vijay Mallya loses bankruptcy petition amendment High Court battle in UK
Ø Ujjivan Small Finance Bank Q4 net jumps 86% to ₹136 Crore
Ø Morgan Stanley sees Sensex at 61,000 by Dec, earnings to rise 37% in FY22
Ø Infosys, Majesco collaborate to accelerate digital experience for insurers
Ø China bans financial, payment institutions from Cryptocurrency business
Financial Express
Ø Indian IT & Business Services market grows 5.41% to $13.4 bn in 2020: IDC
Ø Moglix joins unicorn club with fresh $120-million fundraise
Business World
Ø Adar Poonawalla Exits Panacea Biotec; Sells Entire Stake For Rs 118 Crore
Ø Sensex, Nifty Spurt To 2-Month Highs On Decline In Fresh COVID-19 Cases
News Analysis - 9 WhatsApp Group.
Important Business News (4 to 5 Business News Clippings Shared Everyday Morning), along with Business News Snapshot of Leading Business Papers.
👉 100% Professional Group
👉 No Spaming
👉 No Chit Chat
👉 No Religious Discussions
👉 No Promotions/Adverts
👉 No Political Discussions
Link to join the Group -
https://chat.whatsapp.com/Dya2r521smB8ZLqyEQJKkQ
🇮🇳Business News Headlines
Economic Times
Ø Credit Suisse cuts FY22 GDP Forecast to 8.5-9%
Ø IMF to revisit Growth Forecast for India due to Surge in COVID-19 cases - spokesman
Ø PSBs will only lead bad bank, pvt banks also need to support it: SBI MD
Ø Majority of SMEs qualify for restructuring says Crisil
Ø Chinese airlines agree to resume drug imports to India
Ø Adani Transmission plans Rs 4,500 crore capex in FY22
Business Standard
Ø About 3,400 Rated firms eligible for recast under fresh rules: Crisil
Ø Hero MotoCorp Q4 net rises 39% to Rs 865 Cr, declares final dividend of Rs 25
Ø Patent waiver in WTO to enable timely availability of Covid vaccines: Govt
Ø US weekly jobless claims fall more than forecast to fresh 13-month low
Ø ArcelorMittal Nippon Steel India EBITDA up nearly 3x at $403 Mn in Q1
Business Line
Ø ‘Ageas may up stake in Federal Life to 74%’
Ø UK-India ETP is a critical stepping stone to enhance trade:Richard Heald
Ø India, EU to launch talks on investment protection, GIs
Ø Mahindra Group to set up mobility design centre in UK
Ø Sundram Fasteners posts highest-ever net of ₹130 crore in March quarter
Ø Raymond stitches a profitable Q4
Mint
Ø Axis AMC eyes to collect ₹1,500-cr from global innovation fund of funds
Ø Pfizer-BioNTech can supply 3 billion vaccine doses this year
Ø Oil PSUs to set up medical oxygen plants at 100 locations
Ø Nirma Group’s cement arm Nuvoco Vistas Corp. files papers for Rs5,000 cr IPO
Ø IDFC MF changes name of dynamic equity fund to balanced advantage
Ø Centre gives tax concession to five SWFs
Financial Express
Ø COVID second wave can hit energy demand in April-June quarter: Report
Ø Netherland’s SHV buys Neev’s stake in SunSource Energy
Ø Cognizant Q1 net up 37.6 pc to $505 million; expects to log 7-9% revenue growth in FY2021
Business World
Ø Rupee Rises 13 Paise To Settle At 73.78 Against US Dollar
Ø Sensex, Nifty Rise For 2nd Day; Auto, IT Stocks Take Charge
🇮🇳Business News Headlines
Economic Times
Ø RBI to Strengthen Risk-based Supervision of Banks, NBFCs
Ø India Inc's Foreign Borrowings jump 24 % to $9.23 Billion in March
Ø 462 Infrastructure Projects show cost overruns worth Rs 4.36 Lakh Crore
Ø Engineering Goods Exports jump sharply in April
Ø Blackstone betting Big on India-its most Profitable Market
Ø Lenders brace for deterioration in asset quality metrics
Business Standard
Ø Exports up 197% YoY in April; Trade Deficit widens to $15.24 Billion
Ø Govt extends Income tax, GST Compliance Timelines to ease Covid-19 Pain
Ø FPIs turn net sellers after 6 Months; withdraw Rs 9,659 Crore in April
Ø Franklin Templeton Unitholders to get Rs 2,489 Cr in next tranche
Ø Tech Mahindra, Reagene to file patent for Coronavirus attacking Molecule
Business Line
Ø Budget Carrier flydubai posts $194 Mn loss due to Pandemic
Ø Covid wave to shrink Cotton Consumption by 8 %
Ø Telecom infra Operation, Maintenance work running smoothly amid curfews: TAIPA
Ø GST mop-up hits record ₹1.41 Lakh Crore in April
Ø Singareni Collieries shines in April despite Covid disruptions
Ø Ola to take e-scooter to international markets this fiscal
Mint
Ø Biden’s $4.5 Trillion spending plan faces deficit test
Ø Tesla’s German plant delayed until next year: Report
Ø Warren Buffett defends Berkshire’s moves over pandemic year
Ø Consumer appliances firms scale back production as covid dents demand
Ø India's fuel sales drop in April on Covid wave
Ø Covid-19:Railways deploys nearly 4,000 isolation coaches with almost 64,000 beds
Financial Express
Ø Govt appoints Rabi Sankar as next RBI Deputy Governor
Ø Govt waives late fee for delayed filing of March, April GSTR-3B, Tax Payment
Business World
Ø FHRAI Requests Govt For Special Credit Guarantee Window Under ECLGS For Hospitality Sector
News Analysis - 9 WhatsApp Group
Important Business News (4 to 5 Business News Clippings Shared Everyday Morning), along with Business News Snapshot of Leading Business Papers.
👉 100% Professional Group
👉 No Spaming
👉 No Chit Chat
👉 No Religious Discussions
👉 No Promotions/Adverts
👉 No Political Discussions
Link to join the Group -
https://chat.whatsapp.com/Dya2r521smB8ZLqyEQJKkQ
🇮🇳Business News Headlines
Economic Times
Ø Info Edge to sell Rs 750 Crore Zomato shares in upcoming IPO
Ø India's organic food products exports rise 51% to USD 1bn in 2020-21
Ø Bharti backed-OneWeb to raise $550 mn from France's Eutelsat
Ø Ashok Leyland's subsidiary Switch Mobility, TVS SCS ink pact
Ø PNB Housing Finance Q4 Results : Posts net Profit of Rs 127 cr; expenses down 28%
Ø HDFC AMC Q4 results: PAT rises 27% to Rs 316 cr; firm announces dividend of Rs 34
Ø OPEC+ sticks to plan to ease oil output cuts from May 1
Ø Government infuses Rs 200 Crore capital in IFCI
Ø Pandemic has household savings jumping to 22.5% of GDP: Report
Ø Toyota acquires Lyft's self-driving unit for $550 million
Ø Dental software startup Carestack raises $25 million, plans to double employees
Ø GameStop raises $551 million to accelerate e-commerce push
Business Standard
Ø Britannia posts 3% decline in March quarter profit to Rs 364 Crore
Ø Maruti Profit skids 10%, but company remains upbeat despite Covid 2nd wave
Ø Tamilnad Mercantile Bank eyes Rs 1,000-crore IPO by Nov-Dec 2021
Ø Hindustan Zinc Q4 PAT at Rs 2,481 crore, up 85% YoY on higher revenue
Ø Axis Bank beats Street estimates, posts net profit of Rs 2,677 crore in Q4
Ø Joe Biden to propose tax hikes, $80 billion for audits of the rich
Ø UBS, Nomura push global banks' Archegos losses beyond $10 billion
Ø Hathway share sale oversubscribed, to help promoters meet 25% holding norms
Ø SBI board to consider raising $2 billion through bonds in 2021-22
Financial Express
Ø NBFCs ask RBI for extended recast scheme, more liquidity support
Ø Telecom industry AGR rises 4.19% to Rs 47,623 Cr for Oct-Dec 2020
Ø Hyderabad accounted for almost half of the investments in real estate in Q1 2021
Ø SC allows Vedanta to operate Sterlite oxygen plant till July 31
Ø Mastercard makes USD 10 million commitment to COVID relief in India
Ø Coal India arms considering installing oxygen plants to tide over shortage crisis
Ø Lockdowns pull down business activity to 76% of pre-pandemic level; unlikely to impact GDP: Report
Ø Govt may attain up to 90% of FY22 disinvestment target on strong liquidity
Ø TMB may hit IPO market with Rs 1,000-1,300 cr issue by Nov
Ø JSPL board okays divestment in Jindal Power to Worldone for Rs 3,015 cr
Mint
Ø MSD Pharma signs pact with 5 Indian firms to make investigational covid-19 drug
Ø ICAI postpones final and intermediate CA exams amid Covid-19 surge
Ø Sebi issues guidelines to strengthen provisional rating policies for debt
Ø Amazon to pass Walmart in US Retail sales in 2025: Report
Ø India, Japan and Australia unveil supply chain initiative
Ø ADV Partners, Premji Invest acquire majority stake in Micro Plastics
Ø Clocr raises $500,000 in seed funding round
Ø HCL Technologies and IBM collaborate to modernise security operations
🇮🇳Business News Headlines
Economic Times
Ø Indiabulls Real Estate Q4 Results: Company clocks Net Profit of Rs 94.5 Cr
Ø Palladium soars to within sight of $3,000 in record run
Ø Acreage of summer crops rises by 21.58 %
Ø Macquarie estimates upto $8 Billion value for Citi's APAC Consumer business
Ø India as Electronics repairs hub can create annual $20 Billion Revenue, Five Million jobs
Ø 4 Oil & gas PSUs exceed capex targets, spend Rs 57,000 Crore in FY21
Ø SoftBank-backed SPAC to take Mapbox public in $2 billion deal: Report
Ø Mamaearth eyes $80-100 Million at $350-400 million valuation
Ø India-Singapore tie-up looking to promote tech startups
Business Standard
Ø RBI bars American Express, Diners Club from onboarding new customers
Ø Govt to provide 5 Kg extra food grains free to 800 mn in May and June
Ø Cadila Healthcare's Hepatitis C drug gets approval for emergency use
Ø Singapore-based SC Ventures plans to divest its stake in B2B company
Ø RIL buys Britain's iconic country club Stoke Park for 57 Million Pounds
Ø Mahindra Finance Q4 Consolidated net down 8% to Rs 219 Cr, Income down 3%
Ø PowerGrid to offer Rs 10,384 Crore worth of assets in InvIT next week
Ø HCL Tech Q4 net dips 6%, expects FY22 revenue to grow in double digits
Ø Economic cost of mobility curbs, lockdowns at Rs 1.5 Trillion : SBI report
Ø Custodians flag concerns to Sebi on monitoring foreign holdings in DRs
Ø Bitcoin sinks below $50,000 as cryptos stumble over Biden tax plans
Ø Forex reserves jump $1.193 billion to $582.406 billion: RBI data
Financial Express
Ø Steel industry hoping for steady growth in 2021
Ø Lava aims 5% market share in smartphone segment by year-end
Ø CIL floats two new subsidiaries to pursue alternative energy projects
Ø Consortium of Indian banks led by SBI back in UK court to pursue Vijay Mallya bankruptcy order
Ø At 5.56%, FY21 Credit Growth at 59-year low: SBI Research
Ø RBI extends temporary advances limit of Rs 51,560 crore for states, UTs till September
Ø India’s Tax Revenue below Potential by about 4% of GDP: 15th Finance Commission Chairman NK Singh
Ø Finance Ministry relaxes spending norms to boost capital expenditure
Ø UK sees budget deficit rise to highest rate since 1946
Ø Reliance Capital defaults on payment to bondholders
Ø Global venture capital funding jump to USD 1.3 billion in Jan-Mar 2021: Report
Mint
Ø India must reduce mobility and mixing to rein in Covid-19 Pandemic: WHO
Ø Railways, Air Force used to reduce transportation time for oxygen tanks: PM
Ø Reliance Industries to sell Hathway Cable & Datacom stake worth ₹442 Crore
Ø DPIIT to set up control room to monitor manufacturing of essential commodities
Ø Social commerce fashion platform Browzzin launches in India, to invest $5 mn
Ø Premji-backed Gold Plus Glass Industry plans biggest capacity expansion
Ø Insurers allowed to invest in debt instruments of InvITs, Reits
Ø SpaceX rocketship launches 4 astronauts on NASA mission to space station
Ø EDF submits binding techno-commercial offer for Jaitapur nuclear plant to NPCIL
🇮🇳Business News Headlines
Economic Times
Ø GE Power acquires 50% Equity Stake in NTPC GE Power Services
Ø Tata Steel Long Products Q4 results: Reports net profit of Rs 339 Crore
Ø TV18 Broadcast Q4 results: Net profit rises 77% to Rs 251 Cr
Ø UAE Central bank extends stimulus measures until mid-2022
Ø Johnson & Johnson Q1 Profit, Sales jump, beats Wall Street forecast
Ø China plans $3 billion supercomputing centre to analyse data from space
Ø Global Energy demand to increase by 4.6% in 2021: IEA
Ø US issues Travel advisory against India as Covid-19 cases surge
Ø Fitterfly raises $3.1 Million in funding round led by Fireside Ventures
Ø Kleiner Perkins raises $750 Million for new investment fund
Ø TrulyMadly raises $2.1 Million in pre-Series A funding round
Business Standard
Ø Adani Enterprises incorporates wholly-owned arm MPL
Ø India Inc braces to vaccinate all employees, seeks more clarity on supply
Ø Pristyn Care's valuation crosses $550 Mn, raises $53 Mn in funding round
Ø Nestle India March qtr profit up 14.6% on double-digit sales growth
Ø Flipkart hyperlocal service goes to 6 new cities, promises 90-min delivery
Ø Loan moratorium: Centre asks banks to foot 'interest on interest' bill
Ø EPFO net new enrolments grow nearly 20% to 1.2 million in February
Ø Cabinet gives ex-post facto approval for amendments to Finance Bill, 2021
Ø Paytm Payments Bank becomes the largest beneficiary on UPI platform
Ø Aditya Birla MF files IPO document with Sebi; issue size Rs 2,000 Cr
Ø Exxon floats $100 bn Carbon storage hub requiring public, private financing
Ø India's crude oil output drops 5%, gas production falls 8%: Govt data
Ø Govt approves subsidy policy for urea produced through coal gasification
Financial Express
Ø SaaS start-up Chargebee in unicorn club with fresh $125m funding
Ø Agri ministry, ICAR to promote bio-fortified varieties cereals & pulses via revamped NFSM
Ø Cabinet approves MoU between India, Bangladesh to increase cooperation in trade remedies
Ø Retail inflation for farm, rural workers rise marginally in March
Ø Need complete trust between industry, govt to sustain growth amid Covid situation, says FM Sitharaman
Ø Exports reviving, may be in positive territory in FY22: Commerce Secretary Anup Wadhawan
Ø India likely to waive customs duty on COVID-19 vaccine imports
Ø Cyclone Amphan of 2020 resulted in $14 Billion Economic losses in India: UN report
Ø Crypto exchange Bitex begins providing cryptocurrency investment disclosure following Govt mandate
Ø P-notes investment drops to Rs 89,100 Cr in March
Ø Alternate credit platform BlackSoil Capital disburses Rs 160 Cr in Q4
Ø Global fund managers believe S&P 500 will outperform in 2021; tech stocks gaining investor interest
Mint
Ø Covid vaccine Deregulation to boost realizations, coverage for drug firms
Ø LIC collects highest-ever premium of Rs1.84 trillion in FY21
Ø IKEA aims to run India stores, shopping centres on renewable energy by 2025
Ø Securitisation volumes rises to Rs40,000 crore in Q4 FY21: Crisil
Ø Morgan Stanley-backed iBus Networks acquires Ubico Networks for Rs100 Cr
Ø Hero MotoCorp temporarily halts manufacturing in India due to COVID
Ø Reliance to supply over 700 Tonnes Oxygen/day to states; benefit 70,000 patients
Ø DGCA allows overflying of Boeing 737Max
Ø Easy Trip announces 100% interim dividend; record date set at 28 April
Ø ESOP Management software provider Qapita raises $5 mn in Pre-Series A round
Ø Max Life Insurance launches term plan with Special Exit Value option
Ø Sirona Hygiene raises $3 Million in Series A funding
🇮🇳Business News Headlines
Economic Times
Ø Brokerages Downgrade India's GDP Growth Projections for FY'22 amid resurgence of Covid cases
Ø Expect Religare Finvest's debt restructuring to be over in 2 months, says official
Ø India's power consumption grows nearly 45% in first half of April
Ø COVID-19 hits Passenger Vehicle Exports; Shipments tumble 39% in FY21
Ø RCom lenders may challenge NCLAT order
Ø Govt bans supply of oxygen to industries
Business Standard
Ø Domestic Steel output to take hit as plants divert oxygen for medical use
Ø India to become top electric vehicle maker in the world: Nitin Gadkari
Ø Future Retail lenders Okay Debt recast plan with repayment up to two years
Ø NBFCs seek extension of MSME restructuring scheme till March 2022
Ø Bank FDs in spotlight as returns of liquid funds hit two-decade low
Business Line
Ø India can be winner of new form of Globalization : Experts
Ø SBI Caps to be transaction advisor for privatisation of JNPT’s container terminal
Ø BHEL to procure 300 Products worth ₹3,000 Cr from MSMEs
Ø China’s Economic Growth surged to 18.3% as activity revived
Ø Individual CAs/firms cannot retain two consecutive audit rotation cycles
Mint
Ø Commerce Min to meet Exporters on Apr 20 to discuss export scenario
Ø Tata Steel, SAIL, AMNS India supplying oxygen for treatment of Covid-19 patients
Ø Jaypee Infratech Insolvency: Lenders ask NBCC, Suraksha Group to improve bid
Ø Razorpay’s Valuation triples in six months on latest fundraise
Ø Bitcoin suffers big fall, down most in more than Seven weeks
Financial Express
Ø Exports by STPI units seen at Rs 5 Lakh Cr in Pandemic-hit FY21 amid Rapid Digitization
Business World
Ø India takes ‘Whole-of-Government’ Approach against COVID-19
🇮🇳Business News Headlines
Economic Times
Ø WPI Inflation spikes to over 8-year High of 7.39 % in March
Ø India's exports surge 60% in March, fall by 7.2% in FY21
Ø US Jobless Claims plunge to 576,000, lowest since pandemic
Ø Mukesh Ambani's Reliance diverts Oxygen for COVID fight, trucks stuck in Gujarat
Ø RBI sets up RRA to streamline regulations and reduce compliance
Ø IL&FS addresses debt of Rs 43,000 Crore, raises recovery estimate to Rs 61,000 Crore
Business Standard
Ø Wipro Q4 Profit jumps 28% YoY to Rs 2,972 Crore; Revenue rises 3.4%
Ø India's 10-year Yield spikes as RBI bond-purchase results disappoint
Ø PFRDA set to provide a better option than annuities to NPS members
Ø Four entities apply for universal bank, four others for SFB Licence
Ø Citigroup to exit retail banking operations in India, 12 other countries
Ø Private Equity, VC investments rise 64% to $8.3 Billion in March qtr: Report
Business Line
Ø Tata Steel to rejig Corby tube plant in UK
Ø Amazon unveils $250 Million Smbhav Venture Fund for start-ups, entrepreneurs
Ø Expenditure Dept gets direct control over Public Financial Management System
Ø Worldwide Semiconductor revenue grew 10.4% in 2020: Gartner
Ø Ashok Leyland incorporates new unit for freight business
Ø Hindustan Copper raises ₹500 Crore via QIP
Mint
Ø CSC, Tata Power to set up 10,000 Solar micro grids in rural areas
Ø Spintly raises Rs4.6 Crore in funding led by Riso Capital
Ø PepsiCo reports mid-single digit revenue growth in India
Ø FIIs net sellers of equities in April so far as macro uncertainties loom
Ø Cotton Exports to jump 20 pc in 2020-21 season: CAI
Ø Assets under NPS rose to 38% YoY till March 2021: PFRDA
Financial Express
Ø Non-food credit growth slips below 6%
Ø Traders’ body CAIT calls for 10-day lockdown in national capital to curb COVID cases
Ø Green Hydrogen auctions, Purchase obligations in the offing
Business World
Ø Sensex Ends Higher By 260 Points Led By IT And Pharma Stocks
Ø Rupee Gains 12 Paise To Close At 74.93 Against US Dollar
Ø India Inc's Outward FDI Halves To $1.93 Bn In March
🇮🇳Business News Headlines
Economic Times
Ø OIL says its Acquisition of NRL Shares will ensure Energy Security of India
Ø 5paisa Capital to raise Rs 250 Crore by issuing Shares at 70% premium to current market price
Ø Blockchain firm ConsenSys raises $65 million from JP Morgan, others
Ø Gold rebounds on strong US Inflation data, weaker dollar
Ø Deutsche Bank to lend Rs 600 Crore to NCDC
Ø Larsen & Toubro bags 300 MW solar project in Saudi Arabia
Ø UK Economy grows 0.4% amid confidence from vaccine rollout
Ø Visual tech firm Dybo raises Rs 1.2 Crore from US and Singapore investors
Ø Blacksoil invests Rs 12 crore in Freightwalla, UpMoney, Rapidbox
Business Standard
Ø India fast-tracks Emergency use of Foreign-made Covid-19 Vaccines
Ø 15-day curfew in Maharashtra from April 14; Essential services exempted
Ø Monsoon likely be normal this year in India, marking a hat-trick: Skymet
Ø Central govt's indirect tax collection up 12% in FY21, GST number falls
Ø Jaypee Infra lenders ask NBCC to take govt, regulatory nod on resolution
Ø Process begins for inviting financial bids for AI, deal to conclude by Sep
Ø Unicorn fintech firm Pine Labs acquires Fave in deal valued over $45 mn
Ø Accenture to build for BPCL digital platform to track sales, distribution
Ø Google tax collection nearly doubles in FY21; Bengaluru tops the list
Ø Negotiations on India-EU trade deal to resume next month: FM Sitharaman
Ø Fund raising via NCDs drops 29% in FY21 on decline in credit ratings
Ø Flows into passive funds steal a March over active schemes in 2HFY21
Ø Singapore's Grab Holdings inks $40-billion deal in record SPAC merger
Financial Express
Ø Indofil Industries achieves sales of Rs 1,000 Crore in FY21
Ø Pine Labs acquires Fave in a $45 Million deal
Ø Zoho launches Qntrl to offer workflow solutions
Ø Ramco Systems, EXSYN to jointly offer aircraft data migration service
Ø DCC approves norms to ease access to spectrum for outdoor tech testing
Ø BIS Certification : Govt offers 50% concession for micro enterprises, women entrepreneurs, startups
Ø Delayed-payment cases by small businesses jump nearly 100% in 12 months; resolved cases double
Ø Lockdowns to shave $1.25 bn a week off eco; 140 BPS from Q1 GDP: Report
Ø China’s exports rise at robust pace in March, imports growth highest in 4 years
Ø Castor Crop Estimate revised to 17.8 lakh tonne
Ø G R Infraprojects files draft IPO papers with SEBI; plans to sell 1.15 cr Shares via public issue
Ø NSE launches cloud-based research facility NSE Data Room
Mint
Ø Alfanar eyes sale of majority stake in India assets
Ø Banks fear second wave of defaults as curbs begin to bite
Ø Flipkart to acquire troubled Cleartrip
Ø Biden touts infrastructure proposal in chip-shortage meeting
Ø Renault partners CSC Grameen eStore to push rural sales
Ø India, France pledge to deepen strategic partnership
Ø Govt starts Platform to help Aqua Farmers
Ø OPEC raises 2021 oil demand growth forecast on hopes virus impact wanes
Ø PC Shipments notch fastest quarterly growth in 20 years: Gartner
Ø IATO urges govt for a timeline on resuming tourist visas, international flights
Ø IRDAI notifies Regulations on Advertising rules for Insurance Companies
News Analysis - 8 WhatsApp Group.
Important Business News (6 to 7 Business News Clippings Per Day Shared Everyday Morning, before 9 AM) , along with Business News Snapshot of Leading Business Papers.
👉 100% Professional Group
👉 No Spaming
👉 No Chit Chat
👉 No Religious Discussions
👉 No Promotions
👉 No Politics Discussions
Link to join the Group -
https://chat.whatsapp.com/EmYPNuaZeme9OZrZcmXfBY
🇮🇳Business News Headlines
Economic Times
Ø India to resume buying oil from Iran once US sanctions ease
Ø India open for stronger trade relations with EU: Anurag Thakur
Ø NBCC, Suraksha group submit revised bids to acquire Jaypee Infratech through insolvency
Ø JSW Steel’s crude steel production up by 6% to 4.19 mt in Q4 of FY 21
Ø Japan looks to raise 2030 emissions cut target to at least 40%: Report
Ø BSNL, MTNL yet to clear AGR dues of over Rs 10,000 Crore
Business Standard
Ø Coal's share in India's power mix hits highest in more than two years
Ø Vehicle registration fall 28.64% YoY in March despite low base: FADA
Ø Equity MFs record net monthly inflows after eight-month gap in March
Ø Net absorption of office space plunges 33% in Q1 of Calendar 2021: JLL
Ø First purchase of G-secs worth Rs 25,000 cr under G-SAP 1.0 on Apr 15: RBI
Ø US jobless claims jump to 744,000 as Covid-19 still forces layoffs
Business Line
Ø Corporate revenue expected to grow 17% to ₹6.9-lakh cr in Q4 of FY21: Crisil
Ø As registrations dip in March, FADA fears lockdown hit
Ø Ashok Leyland arm in pact with Siemens for e-mobility solutions
Ø Indirect tax mop-up exceeds Revised Estimate by 9%
Ø RIL promoters to appeal against SEBI penalty
Ø Board approves amalgamation of Jay Shree Tea and Majhaulia Sugar
Mint
Ø SBI MF becomes first mutual fund house to cross ₹5 lakh crore average AUM mark
Ø Srei Equipment Finance gets funding interest from two global funds
Ø Vi Business forays into integrated IoT space, plans expansion in cloud services
Ø Macrotech Developers IPO subscribed 35% on Day 2 of bidding
Ø IFFCO to sell old stock of non-urea fertiliser at earlier rates
Financial Express
Ø During COVID-19 pandemic, India’s debt to GDP ratio increased from 74 pc to 90 pc: IMF
Ø Relief for OYO subsidiary in ‘bankruptcy’ case as NCLAT stays insolvency proceeding
Business World
Ø Tata Power Reports Outstanding Borrowing Of Rs 16,504.4 Cr
Ø ArcelorMittal Europe, Infosys Announce Collaboration For Digital Transformation
🇮🇳Business News Headlines
Economic Times
Ø Reliance, other Energy Majors form Hydrogen Coalition
Ø India's Growth rate to jump to 12.5 % in 2021: IMF
Ø S&P Global raises Tata Steel Ratings to BB- on the back of strong operating performance
Ø Economic Recovery still shallow, a month's national lockdown can dent GDP by 2 pc: Report
Ø 86% insolvency cases pending over 270 days
Ø India to buy one-third less oil from Saudi Arabia
Business Standard
Ø FM calls for greater coordination among BRICS on IMF's Quota review
Ø Domestic Passenger Traffic slips to 10-year low in pandemic-hit FY21
Ø Lodha allots shares worth Rs 740 Cr to Anchor investors ahead of IPO
Ø Airtel to transfer 800 MHz spectrum in 3 circles to Jio for Rs 1,038 Cr
Ø Steel Prices hiked by Rs 5,000 a Tonne on global rally, iron ore rises too
Business Line
Ø Cement demand to surpass 340 Million tonnes in FY22: ICRA
Ø PE funding dips 7.7% to $3.44 Bn across 260 Deals in Q1
Ø ‘Cairn dispute can’t be settled via Vivad se Viswas scheme’
Ø Tata Steel sales up 15% in Q4 on rise in demand
Ø Pitstop raises $3.5 Million in pre-Series B funding led by Ventureast
Mint
Ø Sebi modifies framework for limited purpose clearing corporation by MFs
Ø Axis Bank becomes co-promoter of Max Life Insurance, to own 12.9% Stake
Ø Brookfield, ADIA, CDPQ invest in Lodha's anchor book ahead of IPO
Ø SuperBottoms raises $2 Million in Series A funding
Ø IMF warns severe downside risk to India’s growth outlook
Financial Express
Ø Lendingkart Finance raises USD 15 mn funding from Netherlands’ FMO
Ø Nabard balance sheet grows 24% to Rs 6.57 Lakh Cr in FY21
Ø Northern Arc Investments exits first fund
Deccan Chronicle
Ø LG to exit loss-making mobile phone business worldwide
Ø GST mop-up hits record Rs 1.23 lakh crore in March
🇮🇳Business News Headlines
Economic Times
Ø Banks sanctions Rs 25,586 Cr to 1.14 Lakh Stand-Up India accounts in 5 Years
Ø RIL plans Global Payments play via NUE
Ø IL&FS receives Rs 693 Crore as Settlement claims from NHAI
Ø Government to slap recovery notice on Vedanta's Cairn after Delhi High Court judgment
Ø Year-end pressure hits fund transfers via IMPS, UPI in millions
Ø RIL-BP seek buyers for 5.5 mmscmd KG-D6 gas
Business Standard
Ø SC Order on interest waiver: PSU Banks may have to take Rs 2,000 Cr hit
Ø GST to be levied on underlying goods/services in gift vouchers, rules AAAR
Ø Contributed over Rs 34K cr to Indian exchequer in FY20: Vedanta Resources
Ø Trai considers survey to asses if tariff plans meet customer needs
Ø Mutual funds turn net buyers, invest Rs 2,476 crore in equities in March
Ø Private equity firms value SP Group stake in Tata Sons at hefty discount
Business Line
Ø Market value of UK’s FDI in India surpasses the US’: RBI Census
Ø Income Tax Department notifies changes in audit report
Ø Suzuki Motor Gujarat starts third plant with 2.5-lakh-units capacity
Ø Reliance gets shareholders’, lenders’ nod to spin off O2C biz
Ø TASL, TML to work closely for smooth transition after slump sale
Ø JLR to undertake 10 product actions in Indian market in FY22
Mint
Ø Bank Unions threaten prolonged strikes against Privatisation
Ø Johnson & Johnson takes over at emergent vaccine plant with aid from Biden
Ø Saudis hike Oil prices for key Asia market in sign of confidence
Ø H&M forced to shut 20 stores in China over remarks on Xinjiang cotton: Report
Ø Eight of top-10 most valued companies add ₹1.28 Lakh Crore in m-cap
Ø IMF, World Bank, G-20 to hold meetings this week to assess global economy damage
Financial Express
Ø Forex Reserves fall by USD 2.9 Billion to USD 579.285 Billion
Ø Exports surge a record 58% year-on-year in March to $34 Billion
Deccan Chronicle
Ø GST mop-up hits record Rs 1.23 Lakh Crore in March