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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 Vedanta withdraws all petitions against tax dept to settle retrospective tax demand
Ø Discom dues hit Rs 1 lakh crore till last week
Ø India plans to produce 5 Billion doses of Covid vaccines next year: Piyush Goyal
Ø Raymond to raise Rs 100 cr through non-convertible debentures
Ø Paytm GMV more than doubles to Rs 1.66 lakh crore in Oct-Nov 2021 period
Ø Emcure Pharmaceuticals gets Sebi's go-ahead to float IPO
Ø July-September quarter FDI inflows plunge 42%
Ø Flipkart, Walmart invest $145 Million in Ninjacart in online grocery push
Ø Dialysis chain NephroPlus raises Rs 182 crore in Series E round
Ø Anur Cloud Technologies' raises seed round from AIG Direct LLC
Business Standard
Ø India's Retail inflation rises to three-month high of 4.9% in November
Ø Shriram Capital, Shriram City Union to merge with Shriram Transport
Ø Edelweiss buys back 5.3% from wealth management partner PAG for Rs 230 cr
Ø Sterlite Power to expand transmission projects in Brazil for Rs 250 cr
Ø Greenlam to invest Rs 950 cr on new plant for plywood, particleboard biz
Ø Good Glamm buys MissMalini Entertainment to expand footprint in celeb media
Ø No proposal to transfer ONGC's assets to OIL: Govt tells Rajya Sabha
Ø EV start-up Ultraviolette raises $15 million from TVS Motor, Zoho Corp
Ø Mensa Brands acquires online kidswear firm LilPicks for unknown sum
Ø Worldline partners with major card networks to launch tokenisation solution
Ø Walmart-owned PhonePe digitises 25 mn merchants, kirana stores across India
Ø Hindustan Syringes gets nod to restart production in partial reprieve
Ø Ahead of Budget, AMFI calls for Tax parity between debt securities, MFs
Financial Express
Ø Europe’s cargo airline Cargolux partners with IBS Software
Ø Top bidder for property seeks NCLT order to direct Srei administrator on title transfer
Ø BPCL ties up with BARC for green hydrogen production
Ø As many as 41,177 posts vacant at Public Sector Banks : Govt
Ø Biz activity grows to new high despite Omicron threat: Nomura
Ø Vegetable Oil imports rise 6% in Nov at 11.73 lakh tonnes: SEA
Ø Sebi asks investment advisers, research analysts to disclose investor charter, complaint data on websites, mobile apps
Ø MapmyIndia IPO subscribed whopping 154.71 times
Ø Supriya Lifescience IPO to open on Dec 16; sets price band at Rs 265-274/share
Mint
Ø NoBroker to ramp up tech team by hiring 200 engineers
Ø India votes against UNSC draft resolution to securitize climate action
Ø Data Patterns raises ₹176 Cr from anchor investors ahead of IPO launch
Ø Virgin Atlantic receives $530 mln investment from shareholders
Ø Ares raises $8 Billion fund in private-credit arms race
Ø Wipro launches VisionEDGE Solution; expands sports, entertainment offering
Ø Elon Musk named Time's 2021 'Person of the Year'
Ø Swiss bank UBS fined 1.8 bn euros over tax evasion in French appeal
Ø Civil Aviation Ministry gives nod for setting up 21 Greenfield Airports
Ø Consumer confidence up 2.6 percentage points month-on-month in December: Survey
Ø India exported defence equipment worth over ₹8,434 Crore in 2020-21: Govt
🇮🇳Business News Headlines
Economic Times
Ø Expert Panel calls for efforts to link fintech firms, banks to step up support to MSMEs
Ø Biden to keep Powell as Fed chair, Brainard gets vice chair
Ø Jio loses over 19 Million mobile users in September: Trai
Ø Serum Institute gets nod to export vaccines to COVAX
Ø DLF Cyber City Developers raises Rs 1,000 crore via NCD issue
Ø Pharmacy retail chain MedPlus get SEBI nod to launch IPO
Ø Exports rise 18.8 pc to USD 20 bn so far in November
Ø Ericsson to buy cloud service company Vonage in $6.2B deal
Ø Zvolv raises $1.5 million in round led by JSW Ventures
Ø Sleepy Owl raises $6.5 million in Series A funding round
Business Standard
Ø Aramco deal collapse hits RIL shares, market cap loss at Rs 72,000 Cr
Ø Purplle.com closes $140 mn Series D round adding Premji Invest to cap table
Ø India's Q2 GDP likely to grow 8.1%, says SBI research report
Ø India, US set to revive Trade Policy Forum after four years
Ø 14 firms approach govt to settle retrospective taxation cases: Revenue Secy
Ø Petrol, diesel demand growth to halve due to CNG, ethanol, EV push: Crisil
Ø FY22 fiscal deficit may be better at 6.6% on stronger tax buoyancy: Fitch
Ø Go Fashion IPO subscribed 135 times on closing day despite Paytm fiasco
Ø Digital Transactions up 52% in festival season, says report
Ø NCLAT stays Competition Commission's Rs 200 Cr Penalty on Maruti Suzuki
Ø Salesken raises $22 million in funding from Microsoft, Sequoia
Ø Global leaders join unicorn Apna to build world's largest job platform
Financial Express
Ø Digital disbursement of loans jumped twelve-fold between 2017 and 2020: RBI panel report
Ø Coal mines auction: Govt devises plans to seek interests, participation of private sector
Ø Emission-reduction push seen to displace 30 MT Petrol sales by FY25
Ø SBI lists $650-mn green bonds on India INX, Luxembourg Stock Exchange
Ø Jesons Industries files draft IPO papers with Sebi; aims to raise to raise Rs 900 crore
Ø One in five withdrew funds from EPF accounts since Covid onset
Ø Odisha approves Rs 1.5L crore investment in six months, mulls amendment to IPR-2015
Mint
Ø Gender gap high among top corporate positions: MCA
Ø SpiceJet brings back 737 MAX aircraft after a gap of over 2 years
Ø Panel proposes to exempt govt, agencies from data protection law
Ø ShareChat parent in talks to raise $500 mn at $5 Bn value
Ø Govt encouraging EVs but will not stop registration of ICE vehicles: Gadkari
Ø EU considers booster doses of J&J's Covid-19 Vaccine
Ø Domestic air traffic grew by 27% to 8.99 mn fliers in Oct
Ø Unacademy sees over four-fold growth in FY21 revenue but losses also jump six-fold
Ø KKR makes $12 Billion bid to take Telecom Italia private
Ø EESL partners MSME ministry, UNIDO, GEF to deploy 35 energy-efficient tech
Ø Euler Motors raises $10 Million funding, to expand production
Ø Retail depositors of PMC Bank to be repaid in full over 10 years
Ø Fitch affirms SBI, PNB, BoB ratings at ‘BBB-’ with negative outlook
🇮🇳Business News Headlines
Economic Times
Ø Kia India turns Profitable within two years
Ø ILFS on track for 62% Recovery, says Uday Kotak
Ø FM Nirmala Sitharaman asks Transport, Petroleum, Steel Ministries to front Load capex spending
Ø SoftBank leads $93 Mn investment in NFT gaming firm The Sandbox
Ø IOC to pump in Rs 3,681 Cr for Panipat facility
Ø PNB Housing Finance Q2 results: Net profit slumps to Rs 235 Crore
Ø GE Power India Q2 results: Net Profit up 5% to Rs 39 Cr
Ø IFC plans to step up annual allocation for India to $3 billion
Ø Jeff Bezos pledges $2 Billion to fight climate change
Ø Jupiter in talks for $100-Million funding, valuation may double
Business Standard
Ø Sell Bad debts early, let ARCs take part in IBC: RBI committee
Ø JSPL reports consolidated net profit of Rs 2,584 Crore for Sept quarter
Ø Bharti Airtel clocks Rs 1,134-Cr consolidated net profit, beats estimates
Ø Tata Consultancy Services to be new title Sponsor for Jaguar Formula E Team
Ø CRISIL withdraws SpiceJet rating; firm in non-cooperating category
Ø Sun Pharma Q2 net up 13% at Rs 2,047 Cr, firm launches 28 products in qtr
Ø Unacademy buys top K-10 online tuition platform Swiflearn for unknown sum
Ø Moody's upgrades Lodha group's Macrotech Developers to B3; Outlook Positive
Ø Logistics startup Delhivery files DRHP with Sebi for Rs 7,460 Cr issue
Ø Finance ministry floats four-tier plan for PSB Staff accountability
Ø Banks lend Rs 63,574 Crore to 1.38 Mn borrowers via Outreach Programme
Financial Express
Ø Bank of India Q2 PAT rises 99.9% on lower provisions, higher other income
Ø Sundaram Finance further invests €2 million into Portfolio company Mind Srl
Ø Ola reports first-ever Operating profit of Rs 90 Cr in FY21
Ø India poised to grow electronics manufacturing to $300 Bn in 3-4 years: Rajeev Chandrasekhar
Ø Hiring activity in India grows by 43% annually in Oct; strong demand for tech professionals : Report
Ø Flipkart partners with Ministry of Rural Development to get women businesses into E-commerce fold
Ø BSE joins hand with HDFC Bank to promote startup, SME listing
Ø Floating Rate Bond yields rise as RBI increases supply
Ø Coal will continue to feed growing energy need of India for next five decades: Experts
Ø Samvat 2077: Nifty registers its highest-ever returns in last 12 Years
Mint
Ø PM Modi asks developed nations to pledge $1 Trn for Climate Financing
Ø White House rolls out new plan to combat gun suicides in US
Ø Tata Power to seek shareholders nod not to merge Tata Power Solar Systems
Ø Ford taps Non-IT professionals to broaden its AI expertise
Ø Yahoo pulls out of China, ending tumultuous two-decade relationship
Ø EaseMyTrip net profit surges over 300% to ₹27.13 Crore
Ø CBDT rolls out e-settlement scheme for small taxpayers
Ø DuPont to buy Rogers for $5.2 Billion, divest part of mobility unit
Ø Major edible oil players cut Wholesale prices by ₹4-7 a litre
Ø CCI approves HDFC Life's Acquisition of Exide Life
🇮🇳Business News Headlines
Economic Times
Ø Finance Ministry issues uniform norms for accountability to protect bonafide decision of bankers
Ø 2-week UN Climate Summit formally opens in Glasgow
Ø Aurum PropTech to pick up 49% Stake in Integrow Asset Management for Rs 25 Cr
Ø FPIs turn net sellers in Oct; pull out Rs 12,278 Cr
Ø Godawari Power and Ispat Q2 Results: Net jumps over two-fold to Rs 267 Cr
Ø Crop Insurance claims at Rs 9,570 Cr for 2020-21 lower by over 60 pc from previous year
Ø Saudi Aramco sees third-quarter income rise to USD 30.4 Billion
Ø ASK Realty Fund gets nod to set up AIF in GIFT City
Ø Zepto raises $60 Million to deliver groceries in 10 Minutes
Business Standard
Ø LIC Shareholding in listed companies drops to lowest in over a decade
Ø Jio's new smartphone no disruptor, but will drive ARPU growth: Analysts
Ø DLF to launch projects in medium term with sales of about Rs 40,000 Crore
Ø BharatPe plans $5 bn loan book to help small businesses with credit: CEO
Ø Zydus to knock Covid vax price to Rs 265 a dose, decision soon: Sources
Ø China corners bulk of foreign flows in September among emerging markets
Ø Five IPOs to hit mkt in first half of Nov; seek to raise over Rs 27,000 Cr
Ø Fuel prices hiked for 4th straight day; petrol crosses Rs 120 mark in MP
Ø NTPC places order for 9.3 lakh tonne biomass pellets for co-firing
Financial Express
Ø Captive coal output rises 35% in H1 as Coal India falters
Ø Cement, Steel industries should use green hydrogen for energy: Union minister Nitin Gadkari
Ø India, UK to launch solar Green Grids Initiative at COP26
Ø Most Indian firms to increase cybersecurity budget in 2022: PwC Survey
Ø Cooperative sector can turn India into USD 5-trillion economy, make agriculture ‘atmanirbhar’: Amit Shah
Ø Jewellers expecting strong demand during Dhanteras
Mint
Ø B Capital, others invest $50 mn in Fi
Ø Aadhaar eKYC allowed for Atal Pension Yojana subscription: PFRDA
Ø Ola electric scooter's second purchase window delayed to December 16
Ø At G-20 Summit, US agrees to relax tariffs on European steel
Ø Last seven years on track to be hottest on record: UN
Ø Non-metro buyers fuel festive sales on Amazon
Ø Toyota Kirloskar Motor sells 12,440 units in the month of October
Ø Over 3.54 lakh road accidents in 2020; More than 60% due to overspeeding: Report
🇮🇳Business News Headlines
Economic Times
Ø Shapoorji Pallonji in talks with global funds to set up $1.5 billion Investment Platforms
Ø India ranks 9 in Climate tech investment
Ø IRB Infrastructure to raise Rs 5,347 crore via Preferential issue of shares
Ø Torrent Pharma Q2 results: Consolidated net profit up 2% at Rs 316 crore
Ø Gati Q2 results: Co posts net profit at Rs 45 crore
Ø Union Bank of India cuts home loan rates to 6.40 per cent
Ø Smart World Developers to invest Rs 3,000 crore in developing 6 million sq ft in Gurgaon
Ø Agri-tech startup DeHaat raises $115 million led by Sofina, Lightrock India
Ø Hyy.pe bags $2 million in funding led by Elevation Capital
Ø Tiger Global raises $8.8 billion in first close of biggest fund
Business Standard
Ø Gautam Adani meets Sri Lankan President Rajapaksa, eyes green investments
Ø Axis Bank profit jumps 86% to Rs 3,133 crore in September quarter
Ø Cipla posts 7% year-on-year rise in Q2 PAT, riding on 10% revenue growth
Ø Bajaj Finance Q2 consolidated net profit jumps 53% to Rs 1,481 crore
Ø RIL-BP launch their first co-branded petrol pump in Navi Mumbai
Ø Snapdeal strengthens board with two additions ahead of its Rs 3,000 cr IPO
Ø Stimulus package and reforms have put economy on track: FM Sitharaman
Ø Banks process nearly 2 mn e-mandates for auto-payment after RBI order
Ø Sebi mulls disclosure norms for MF ESG schemes, seeks public comments
Ø IEX seeks shareholders nod to issue bonus shares via postal ballot notice
Ø Oil benchmarks settle at highest since 2014 on global supply shortage
Financial Express
Ø CLP India rebrands as Apraava Energy
Ø Kotak Mahindra Bank Q2 profit falls 7% on higher provisions
Ø Banks sanction Rs 11,168 crore under credit outreach initiative
Ø NCAER’s business confidence index rises 90 pc in Q2
Ø Quality Council of India sets up team of experts to execute proposed ONDC project
Ø Govt planning semiconductor design-linked incentive policy
Ø Fino Payments Bank IPO to open on October 29; price band set at Rs 560-577
Mint
Ø Arcelor-Nippon to invest ₹1 trillion in India over 10 years
Ø India lost $87 bn last year due to natural calamities: WMO
Ø Bharti-backed OneWeb, Neom Tech form USD 200 million JV for satellite network
Ø GM to boost EV profile with 40,000 charging stations in US, Canada
Ø US consumer confidence sees surprise jump as delta concerns ease
Ø Novartis weighs sale or spinoff of generic drug unit Sandoz
Ø Samsung India revenues drop 1% in FY21, profit up 39%
Ø Amazon signs satellite pact with Verizon in challenge to Musk
Ø Meghmani Finechem Q2 Results : PAT jumps 83% on higher capacity utilisation
Ø India, ADB sign $4.5 Million loan to support urban mobility in Mizoram
🇮🇳Business News Headlines
Economic Times
Ø JSW Steel well placed to weather inflation and downcycles
Ø FPIs go big on auto as prospects look up
Ø UBS says India's equity valuations are unattractive, double upgrades China
Ø FPIs remain net sellers in Oct, pull out Rs 3,825 cr
Ø M-cap of five out of top 10 most valued firms down by over Rs 1.42 lakh cr; HUL, RIL most hit
Ø India high cost environment for airlines; critical to empower AERA: IATA
Ø India Inc earnings, US data, Fed taper talk to drive market this week
Ø India looks at close to double digit growth this year: FM Sitharaman
Ø Govt receives financial bids for stake in Central Electronics
Ø Strong GDP growth expected in coming quarters: PHDCCI
Business Standard
Ø Fiscal deficit likely to stay at budget estimate of 6.8% of GDP in 2021-22
Ø Vodafone Idea accepts four-year payment moratorium on AGR dues
Ø Higher raw material costs dent Nestle's operational performance in Sept qtr
Ø Govt must withdraw orders on transfer of SEZ units' assets
Ø Nykaa IPO to open on October 28; priced at Rs 1,085-1,125 apiece
Ø Dish TV Rs 1,000 cr rights issue critical for survival: Company executive
Ø YES Bank to take 2 more years to stabilise, says former SBI chief
Ø China's curbs on fertiliser exports may affect India, says report
Ø Tesla car to be affordable in India, will cost Rs 35 lakh, says Gadkari
Ø Reliance Retail acquires 52% stake in designer Ritu Kumar's company
Financial Express
Ø Moody's upgrades banking system outlook to 'stable'; economic recovery to drive credit growth
Ø Bharti's OneWeb partners with ISRO for satellite launch in India; aims to enhance digital connectivity
Ø Securitisation transactions witness improvement in collection efficiency in August
Ø Sebi tweaks norms for REITs, InvITs on exit option for dissenting unit holders
Ø India warns of high oil prices hurting global economic recovery
Ø No application for virtual internship to be entertained: Sebi
Ø Sebi nod to Rs 6K-crore PolicyBazaar IPO
Ø Tea imports from Nepal hurting Indian tea industry
Ø Financial bids for BPCL after September
Ø Tax implications on capital gains earned by NRIs
Ø Cotton association lowers current season’s crop estimate
Mint
Ø Infosys raises FY22 outlook, Wipro hits $10 billion run rate
Ø CarDekho is eyeing a public listing in the next 18 months: CEO Jain
Ø Dish TV rejects Yes Bank’s proposal to hold an EGM
Ø The Sony-Zee game plan for Indian Premier League
Ø Unicorns see meteoric rise in valuations as their tribe increases
Ø Adani Wilmar’s IPO is likely to get Sebi approval this week
Ø Sajjan Jindal appointed chairman of World Steel Association
Ø EU in talks to delay reforms for $61 trillion securities market
Ø Reliance Infra to use ₹7,100 cr from DMRC arbitral award to repay debt'
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Tata Sons and a $2 billion plan for super app Tata Neu
Ø Tata Steel becomes 24th company to join Sea Cargo Charter to meet climate goals
Ø Zee-Sony merger may have a big backer in LIC
🇮🇳Business News Headlines
Economic Times
Ø Gold Demand to stay subdued, rebound likely only next year: World Gold Council
Ø ISCE board Postpones first term exam for Classes 10, 12
Ø Skylark Wealth Management buys stake in Roni Households
Ø Shriram Transport and Hero FinCorp may raise up to $600 Mn offshore loan
Ø Network18 Media Q2 Results: Net Profit zooms to Rs 199 Cr
Ø Alok Industries Q2 results: Net loss at Rs 84 cr; revenue from operations at Rs 1,905 cr
Ø Rising Commodity prices to push CAD to 1.3 pc or $40 Bn this fiscal: Report
Ø IMF cuts Asia's Growth forecast, warns of supply chain risks
Ø India plans to form Group of PSU, Private refiners to seek better oil import deals: Oil secy
Ø RevFin raises $4 Million in pre-series A funding round
Ø ConveGenius raises $5 million to launch its conversational AI platform
Ø Finland's Aiven raises $60 Million at $2 Billion valuation
Business Standard
Ø ICICI Pru Life posts 47% jump in net profit to Rs 445 Cr for Sept quarter
Ø ACC third quarter net profit increases 24% to about Rs 450 Crore
Ø BofA fund manager survey least bullish since Oct 2020, cash at 12-mth high
Ø Reliance Retail acquires 52% stake in designer Ritu Kumar's company
Ø Axis Bank to waive 12 EMIs on select home loans under festive offer
Ø Zoho Business Operating system user base grows 60% Globally, 104% in India
Ø SP group to raise Rs 10,000 Cr from asset sale, meet debt repayment target
Ø Gati ramps up network capacity by 20-25%; increases workforce by 15%
Ø MSME stressed assets likely to touch 18% by March 2022, says CRISIL
Ø India at 71st on Global Food Security index 2021 of 113 Nations
Ø Moody's upgrades Outlook on Indian Banking from 'negative' to 'stable'
Ø Insurers' Covid-related health claims outgo falls 35% in July-Sept Quarter
Financial Express
Ø Govt may permit 20% FDI limit in LIC
Ø Corp bond issuances tepid in H1 FY22 due to lack of RBI support
Ø Nestle India Q3 net rises 5 pc to Rs 617 cr; net sales up 9.63 pc to Rs 3,865 Cr
Ø Adani Group commits 70% Capex until 2030 to energy transition
Ø Coal, railway, power ministers discuss coal supply situation at power plants
Ø DCM Shriram Q2 Profit up 33.2%; says biz environment remains disruptive
Ø Godrej Properties ranks 1st amongst listed Global Residential developers by GRESB
Ø Services exports may reach over $240 billion in 2021-22, need govt support: SEPC
Mint
Ø CredAble raises $30 Mn in Series B funding
Ø IRCTC becomes ninth PSU firm to breach ₹1 tn market cap
Ø State-run NTPC looks to pick up around 5% stake in PXIL
Ø WHO-led programme aims to buy Merck, other antiviral Covid pills for $10: Report
Ø UK Government, Bill Gates launch Green Investment Partnership
Ø India, Israel, US and UAE agree to establish Joint Economic forum
Ø Apollo targets $1 Trillion in assets, aiming to outpace Blackstone
Ø IPO-bound Ola restructures firm as CFO, COO bow out
Ø FDA nearing approval for Mixing and Matching Covid-19 Booster shots
Ø Axis AMC, Inversion eye ₹3,500 Cr Fund
🇮🇳Business News Headlines
Economic Times
Ø Indian Economy is recovering from COVID-19 Crisis ; says World Bank President
Ø US inflation rises 5.4% from year ago, matching 13-year high
Ø Shriram Housing Fin gets Rs 300 Cr equity capital from parent firm
Ø NTPC in talks with banks to rescue ₹30,000 Crore debt-laden KSK Mahanadi Power
Ø Wipro Q2 Results: Consolidated profit up by 17% to Rs 2,930.6 Cr
Ø Global Debt jumps to a new high of $226 Trillion : IMF
Ø China exports up 28% in September; surplus with US at $42 Billion
Ø PayPal signs MoU with IIFT, launches India Digital Trade Facilitation Forum
Ø Infosys Q2 Net Profit jumps 11.8% YoY to Rs 5,421 Crore
Ø Insurtech startup GramCover raises $7 Million in a Series A round
Ø Melorra gets $24 Million funding from 9 Unicorns, others
Business Standard
Ø Gati Shakti to make Policymaking effective, cut needless expenses: PM Modi
Ø CIL arm Mahanadi Coalfields further raises daily coal despatch
Ø Mindtree second quarter net profit up by 57% to Rs 399 Crore
Ø Toch.ai raises $11.75 mn to scale up tech infra, expand into global markets
Ø Tata Group market cap surges $55bn since August to zoom past $300 bn
Ø Beauty and personal care co Plum to open 50 Offline stores in India by 2023
Ø InMobi to acquire London-based app ads performance tracker Appsumer
Ø Govt scraps basic Customs duty, cuts cess on crude palm, soy, sunflower oil
Ø India's October power supply deficit worst since March 2016
Financial Express
Ø Institutional investment in realty sector up 17 pc in July-Sep to USD 721 Mn; office saw 75 pc dip
Ø Route Mobile’s UAE arm to acquire stake in Kuwait-based Interteleco
Ø India looks at close to double digit growth this year: FM Nirmala Sitharaman
Ø Corporate Bond yields rise on uptick in government securities, withdrawal of G-SAP operations
Mint
Ø CarDekho is eyeing a Public listing in the next 18 Months : CEO Jain
Ø India-China trade on course to touch record $100 Billion-mark
Ø I-T Portal making steady progress, 1.9 Cr returns filed so far: Infosys CEO
Ø SuperQ signs MoU with IIT-Kharagpur to collaborate on Superconductor Research
Ø EU in talks to delay reforms for $61 trillion securities market
Ø India's Fuel Demand rises 5.2% in September
Ø Vested Finance ties up with SBM Bank for Forex transfers
Ø Piramal-Bain Capital fund IndiaRF invests ₹310 Crore in Primacy Industries
Ø Indian Bank, Fisdom tie up for Digital Gold, Pension Funds, Portfolio Management
🇮🇳Business News Headlines
Economic Times
Ø Ultratech emerges as preferred bidder for limestone block in MP
Ø TCS to bid for AI digitisation, US contracts: COO
Ø Vi, Airtel have Rs 42,000 Crore locked in cases against Government
Ø Tata Sons to form advisory team to guide on Air India integration
Ø Govt eyes over Rs 30,000 cr via bond sale to repay Air India's dues
Ø Govt receives over Rs 2,593 Crore dividend from NTPC, PGCIL this fiscal
Ø Indian economy on path to swift recovery: Finance Ministry report
Ø Indian economy poised to attain double-digit growth in FY22: PHDCCI
Ø Power outages risk to growth, add to retail inflation: Nomura
Ø Bank of India raises Rs 1,800 Cr via Basel-III-compliant bonds
Ø Tatas likely to raise up to Rs 15,000 Crore in loans to support Air India purchase
Business Standard
Ø Semi-conductor crunch, high input costs to crimp Q2 show for auto sector
Ø Jhunjhunwala-backed Akasa Air gets no objection certificate from govt
Ø Zee-Sony merger deal not in interest of small shareholders: Invesco
Ø Tata Sons board meet on Tuesday to discuss Air India acquisition
Ø Ground-handling arm of Air India to be monetised first: DIPAM Secy
Ø Adani Ports to stop handling containers from Iran, Pak, Afghanistan
Ø Tata Motors reports 24% increase in group global wholesales in Q2
Ø RBI may hike rates in March qtr; coal and chip shortages a worry: Nomura
Ø Tesla car to be affordable in India, will cost Rs 35 Lakh, says Gadkari
Ø Recovery hopes, non-auto share are positives for Motherson Sumi
Financial Express
Ø Future Group firms convene shareholder, creditors meetings to seek approval for Reliance deal
Ø Bharti's OneWeb partners with ISRO for satellite launch in India; aims to enhance digital connectivity
Ø Coal ministry conducts pre-bid conference for auction of 11 mines
Ø Sebi tweaks norms for REITs, InvITs on exit option for dissenting unit holders
Ø Bond yields rise on sharp increase in oil prices
Ø Reliance acquires Norway's REC Solar, 40% in Sterling & Wilson Solar for Rs 8,645 Crore
Ø SEBI bans Infosys employee from stock markets on insider trading charges, impounds Rs 2.6 Crore
Ø GI tag for basmati rice: Nepal poses big threat to India, increase acreage
Ø Financial bids for BPCL after September
Ø Govt amends rules to allow 50% Sale of Coal from captive mines
Ø ABB Power Products gets shareholders' nod to rechristen company
Mint
Ø The coal maker sitting pretty on tight supply and high prices
Ø Sebi proposes higher net worth for brokers to tackle possible risks
Ø Merger mania is only part of the solution for asset managers
Ø The Sony-Zee game plan for Indian Premier League
Ø Sugar makers are in a sweet spot, but cane prices can be a bugbear
Ø RBI push to independently set reverse repo rate draws flak
Ø Oil India’s efforts to pare debt help boost investor sentiment
Ø Chip shortage drives tech companies and car makers closer
Ø Reliance Infra to use ₹7,100 Cr from DMRC arbitral award to repay debt'
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Cognizant’s Humphries struggles to build Stable leadership
Ø Tata Steel becomes 24th company to join Sea Cargo Charter to meet Climate goals
Ø NCR's Real Estate nightmare is coming to an end
🇮🇳Business News Headlines
Economic Times
Ø Industrial Loan Growth turns negative in 2020-21
Ø NTPC pays Rs 3,054 Crore final dividend for 2020-21
Ø Mobikwik gets Sebi approval for Rs 1,900 Crore IPO
Ø India's Forex Reserves decline by over $1.16 Bn
Ø RBI says India’s inclusion in Global Bond index may happen in next few months
Ø India expected to grow by 8.3 per cent in 2021-22: World Bank
Ø OECD fixes minimum tax of 15% on MNCs from 2023
Ø Chintels India to invest Rs 400 Crore in developing 900,000 sq ft in Gurgaon
Ø Log 9 Materials raises $2 million from Petronas Ventures
Ø Short-video app Chingari raises $19 million in crypto funding
Business Standard
Ø RBI begins policy normalisation; maintains status quo on rates
Ø TCS Q2 Results: Consolidated PAT rises 14% to Rs 9,624 Cr, Revenue up 17%
Ø CEA Subramanian to leave finance ministry, will return to academia
Ø Govt issues guidelines for optimum utilisation of power generation capacity
Ø SIP inflows cross Rs 10,000 Cr -mark for first time in a month in Sept
Ø TSMC, Sony plan joint chip unit with $7.15-bn help from Japan Govt
Ø Gland Pharma gets tentative nod from USFDA for generic Sugammadex injection
Financial Express
Ø RBI working on offline digital payments framework, hikes IMPS limit to Rs 5 lakh
Ø Dr Agarwals Eye Hospital to invest Rs 1,000 Crore to more than double network
Ø Over 3 crore unorganised workers registered on e-Shram portal
Ø Auction process for 40 new Coal mines to begin next week: Govt
Ø Refractory industry faces high raw material, freight cost issue: IRMA
Ø RBI files insolvency pleas against two Srei Group firms in NCLT
Ø Motherson acquires majority stake in CIM Tools to foray into aerospace segment
Ø Govt directs fertiliser companies not to hike prices of DAP, other phosphatic nutrients
Ø Piyush Goyal stresses on re-negotiation of FTA with ASEAN to stop misuse
Ø RBI extends SLTRO facility for SFBs till December 31
Mint
Ø Hiring activity almost flat, grows 3% sequentially in September: Report
Ø Oil surges to $80 as Global Energy crisis threatens supplies
Ø GMR to expand Hyderabad airport with ₹6,300 Cr investment: Report
Ø Consumer confidence rises as second covid wave ebbs
Ø Imported Edible Oils prices fell after import duty cut: Govt
Ø TCS to hire 35,000 Graduates in H2, taking total hiring count to 78,000 in F22
Ø US Employers add a weak 194,000 Jobs as Delta maintains hold
Ø Ishitva raises over $1 Million in Pre-Series A funding
Ø IFSCA launches Global FinTech Hackathon Series
Ø 10-year Bond yields surge to 18-month high on RBI Taper
🇮🇳Business News Headlines
Economic Times
Ø Rakesh Jhunjhunwala-backed Nazara Tech raises Fresh Capital
Ø Airtel, Vi could save thousands of crores with Centre's rethink on spectrum charge
Ø NSE-BSE bulk deals: Blackrock sells Bharti Airtel Rights Entitlements
Ø HDFC Bank eyes strategic investor in NBFC arm
Ø OPEC+ sticks to planned moderate hike in output
Ø PE inflows plunge 30% in Q3 to $17 bn: Report
Ø Sebi board okays steps to make M&As easier
Ø India's wheat exports could quadruple to 8-year high as global prices rally
Ø RBI imposes Rs 2 crore penalty on RBL Bank
Ø Bank of India raises Rs 1,800 cr via Basel-III-compliant bonds
Ø Delayed recovery greatest risk to pandemic-hit Indian economy
Business Standard
Ø Srei files writ petition in Bombay High Court against RBI
Ø Cabinet approves Rs 4,445-cr PM MITRA Yojana to set up 7 mega textile parks
Ø Zee, Invesco battle to test Competition law on wresting corporate control
Ø Moody's raises rating outlook to stable for 18 Indian companies, banks
Ø DoT slashes bank guarantee requirement for telecom operators by 80%
Ø Sebi proposes sweeping changes to HNI allotment process for IPOs
Ø Sebi asks exchanges, clearing corporations to display complaints on website
Ø Icra revises up India's fiscal 2022 GDP growth forecast to 9%
Ø Cabinet approves ECGC IPO, Rs 4,400 crore capital infusion: Goyal
Ø Saudi Aramco hits $2-trn valuation on back of higher oil prices
Financial Express
Ø Govt may not need to amend any law for permitting foreign participation in LIC IPO
Ø Attero Recycling plans public listing in 3 yrs, to double capacity by 2022
Ø Recover dues from sugar mills by tagging bags, Maharashtra tells banks
Ø Sebi tweaks norms for REITs, InvITs on exit option for dissenting unit holders
Ø Bond yields rise on sharp increase in oil prices
Ø SpiceJet joins hands with travel portal EaseMyTrip
Ø SEBI bans Infosys employee from stock markets on insider trading charges, impounds Rs 2.6 crore
Ø GI tag for basmati rice: Nepal poses big threat to India, increase acreage
Ø Financial bids for BPCL after September
Ø Govt amends rules to allow 50% sale of coal from captive mines
Ø Icra raises FY22 power demand growth outlook to 8.5%
Mint
Ø The coal maker sitting pretty on tight supply and high prices
Ø Sebi proposes higher net worth for brokers to tackle possible risks
Ø Merger mania is only part of the solution for asset managers
Ø The Sony-Zee game plan for Indian Premier League
Ø Sugar makers are in a sweet spot, but cane prices can be a bugbear
Ø RBI push to independently set reverse repo rate draws flak
Ø Oil India’s efforts to pare debt help boost investor sentiment
Ø Chip shortage drives tech companies and car makers closer
Ø Reliance Infra to use ₹7,100 cr from DMRC arbitral award to repay debt'
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Tata Steel becomes 24th company to join Sea Cargo Charter to meet climate goals
Ø NCR's real estate nightmare is coming to an end
🇮🇳Business News Headlines
Economic Times
Ø Interest Rates of PPF, Sukanya Samriddhi Yojana, other post office schemes kept unchanged by Govt
Ø US slightly revises up its GDP Estimate for Q2 to 6.7%
Ø Non-food Bank Credit grows 6.7 pc in August: RBI Data
Ø NHPC gets shareholder nod to raise borrowing limit to Rs 40,000 Cr
Ø SBI, Union Bank, PNB pick up stake in NARCL
Ø Foreign Exchange reserves rise $34.1 bn in June quarter: RBI data
Ø HDFC Bank raises Rs 739 Crore via masala bond
Ø India set to become one of the largest digital markets: Piyush Goyal
Ø Fiscal deficit touches 31.1 % of annual target at end-August
Ø AIIB grants $356.67 mn loan for Chennai Metro; bank's total India funding rises to $6.7 bn
Ø India, Australia agree to sign a Comprehensive Economic Cooperation Agreement by 2022 end
Ø Core Sector output expanded by 11.6% in August compared to 9.9% in July
Ø Hiring Platform Relevel raises $20 Million from parent Unacademy
Ø Ola Electric gets $200 Million funding at $3 Billion valuation
Business Standard
Ø NCLT directs Zee Board to consider Invesco's requisition for EGM
Ø Social commerce startup Meesho raises $570 Mn, Valuation doubles to $4.9 Bn
Ø Adani Green arm acquires 40 Mw operating solar project in Odisha
Ø BP invests about Rs 97 Crore in BluSmart, its first fund in India
Ø Alteria announces final close of second venture debt fund at Rs 1,800 Cr
Ø NTPC's renewable arm signs first green term loan of Rs 500 Cr with BoI
Ø Emami eyes entry into new segments via acquisitions, investment in startups
Ø Airtel unit Nxtra to invest Rs 5,000 Cr to expand Data Centre business
Ø ONGC Videsh begins exploratory drilling in Bangladesh's Kanchan #1 well
Ø Tata Steel sells entire stake in NatSteel Holdings for $172 Million
Ø TCS wins MCX deal to transform its core systems for undisclosed sum
Ø Domestic Gas Price hiked to $2.9 per mBtu, ceiling raised to $6.3 per mBtu
Ø Govt seeks to empanel merchant bankers, legal advisors for share sales
Financial Express
Ø Airtel’s Nxtra to invest Rs 5,000 Crore, aims to boost its data centre capacity
Ø Govt issues guidelines for hydro power projects to get budgetary support
Ø Labour ministry ties up with Microsoft for digital skilling programme
Ø India reports current account surplus of USD 6.5 Bln in June quarter
Ø NITI Aayog ties up with Intel, Amazon Web Services to accelerate digital innovation for public use
Ø Isthara Parks raises funds from JM Financial Private Equity, Eagle Investments
Ø Monsoon at 99% of long-period average in June-September; withdrawal delayed
Ø Retail inflation for industrial workers eases to 4.79 pc in August
Ø Promoters of Sterling and Wilson Solar repay loans of Rs 740 Crore
Mint
Ø MEIL plans ₹20,000-cr debt to fund acquisition of PSUs
Ø Merck to buy Acceleron Pharma for $11.5 Billion
Ø NMDC eyes 47 MT Iron Ore Production in FY22, to spend ₹3,720 Cr on Capex
Ø Entrepreneur First announces investment in six Indian tech start-ups
Ø TCS Board to consider second interim dividend, announce Q2FY22 results on 8 Oct
Ø Max Life Insurance secures 10.8% market share among private life insurers
Ø RBI pegs State Governments' borrowing at ₹2.02 lakh cr in Dec quarter
Ø Telecom reforms to allow Vi to invest in new tech including 5G: Non-exec chairman Kapania
Ø Govt to make it mandatory for car manufacturers to produce flex-fuel engines
Ø Bank of India raises ₹1,800 Cr through Basel-III-compliant bonds
Ø US initial Jobless claims unexpectedly rise for a third week
🇮🇳Business News Headlines
Economic Times
Ø DoT gearing up for another mega spectrum Sale
Ø Novovax, Serum Institute seek WHO's approval for their COVID vaccine
Ø IIFL Finance to raise Rs 1,000 crore via bonds
Ø Vedanta to delist American depositary shares
Ø FPIs stock holding value soars to $630 bn as of Aug: Report
Ø Paras Defence IPO sees record 304.3 times subscription on Day 3
Ø Adani Enterprises incorporates wholly-owned arm Adani Digital Labs Pvt Ltd
Ø Bank deposits rise 12 per cent in FY21 on higher CASA growth: RBI data
Ø Reliance Jio adds nearly 3.5 million rural mobile users in July, Airtel and Vi lose: Trai
Ø Medikabazaar gets $75 million funding from Creaegis, CDC Group, others
Ø Y Combinator-backed Karbon Card raises $12 million in latest funding round
Business Standard
Ø Google files writ in Delhi HC against CCI alleging Confidential report leak
Ø Kolkata-based RP Sanjeev Goenka Group ventures into personal care
Ø Flipkart Wholesale expands into general merchandise ahead of festive season
Ø NFRA finds big gaps in statutory audit of IL&FS Transportation Networks
Ø Entitlement under SEIS for services exports in FY20 capped at Rs 5 crore
Ø Global services trade remains below pre-Covid levels, says WTO
Ø Trying to ease rules to make it easier for units to exit SEZs: Goyal
Ø FinMin officials to meet global rating agencies next week, may seek upgrade
Ø Govt shortlists four law firms to assist LIC IPO after failed first attempt
Ø Airtel's rights issue open Oct 5-21, priced at 26% discount to last close
Ø Some e-filing glitches remain, working with I-T dept: Infosys
Ø Ministry of Defence orders 118 Arjun tanks for over Rs 7,000 Crore
Ø Worsening chip shortage to cost world's automakers $210 billion
Ø Fitch Ratings cuts China's growth forecast to 8.1% on property curbs
Ø Real firm Casagrand plans IPO by next December to fund land acquisition
Financial Express
Ø Moody’s affirms Ba2 rating of GMR Hyderabad International Airport
Ø Dish TV gets requisition from Yes Bank to call EGM
Ø PFC, REC disburse Rs 85,000 crore to discoms under Atmanirbhar Bharat package
Ø Amazon infuses Rs 450 cr in Amazon Pay
Ø Coal India arm NCL joins hands with NTPC to install solar power project in MP
Ø Jubilant Foodworks acquires 25% stake in nutrition company Wellversed
Ø E-commerce cos to log 23% rise in gross GMV at over USD 9 bn during festive sale this year: RedSeer
Ø JSPL bags 278 MT Kasia iron ore mine in Odisha for captive use
Ø Upper middle class to revive consumption cycle again soon: Report
Ø India, UAE discuss deepening of trade, investment ties
Ø Agriculture minister recommends judicious use of chemicals in agriculture
Mint
Ø Oyo appoints banks for IPO, set to file draft papers in Oct
Ø UltraTech Cement commits to 100% renewable energy usage by 2050
Ø Indian Bank declares two NPA accounts worth ₹300 cr as fraud, reports to RBI
Ø PM Modi meets Qualcomm CEO, discusses semiconductor manufacturing
Ø Veranda acquires Edureka for ₹245 cr, deepens foray into edtech
Ø New platform backed by Fidelity, Goldman Seeks to bring IPO market into digital world
Ø IMD issues yellow alert for six districts of Himachal Pradesh
Ø Centre issues guidelines to limit coronavirus spread during festival seaon
Ø US jobless claims hover near pandemic low
Ø Accenture's new bookings at record $59.3 bn for full fiscal year, up 20%
🇮🇳Business News Headlines
Economic Times
Ø Biocon Biologics to offer 15% stake to Serum Institute Life Sciences
Ø JM Financial's subsidiary to raise up to Rs 500 Crore
Ø Sebi mulls carving out separate AIF category to buy distressed loans from banks
Ø Govt revenue from telecom in FY22 likely at Rs 28,000 Cr vs Rs 54,000 Cr budgeted: ICRA
Ø Ola Electric sells S1 Scooters worth over Rs 600 Crore in just one day, 4 units every second
Ø TVS Motor enters Europe's e-bike market, acquires Swiss company EGO Movement
Ø SBI cuts home loan interest rate to 6.7%, waives processing fees
Ø IPO-bound Pine Labs raises $100 Million from US Investment fund
Ø Ayu Health gets $6.3-million funding from Vertex, Stellaris and others
Ø Atomberg Technologies raises undisclosed sum from Ka Enterprises
Business Standard
Ø Bharti Airtel chairman Sunil Mittal dials Voda, Jio to strike synergy note
Ø Govt backs NARCL with Rs 30,600-Crore Guarantee for five years
Ø Moratorium under IBC applies only to corporate debtor not to promoters: SC
Ø Yatra Online evaluates additional listing of Indian arm on Indian Bourses
Ø JSW Steel raises $1 Billion via bonds issuance in overseas market
Ø Byju's continues Acquisition spree, buys US-based coding startup Tynker
Ø Power Finance Corp issues maiden Euro Green Bond, aims to mop up £300 Mn
Ø NITI Aayog for building 500 'healthy cities' to fight Covid-like Crisis
Ø Domestic Air Traffic in August jumps 34% sequentially, says DGCA
Ø Inflation is moderating faster than foreseen, proves MPC's call right: RBI
Ø Paras Defence's Rs 171 Cr IPO opens Sept 21, Price band Rs 165-175
Ø Growth-oriented tech cos' IPOs worth Rs 30,000 Cr in pipeline: Sebi chief
Financial Express
Ø Gold Jewellery retailers’ revenue likely to grow 12-14pc: Crisil
Ø NCLT approves amalgamation of Lincoln Parenteral & Lincoln Pharmaceuticals
Ø Sunteck Realty eyes Rs 9,000 Crore revenue in 7-8 years from new township project
Ø 52 Companies apply with Rs 6,000-Crore investment proposals for PLI scheme for AC, LED lights
Ø India’s coal-fired power output falls 1.5%, renewables jump in September
Ø BHEL commissions India’s largest floating solar plant in Andhra Pradesh
Ø Bidgely raises $26 mn from Moore Strategic Ventures, others
Ø RBI remains net purchaser of US dollar in July; buys USD 7.205 bn
Ø Issuance of commercial papers rises 47.8% year-on-year between April & August
Mint
Ø LOGOS leases warehousing centre to Amazon in $100 Million rental deal
Ø US to share nuclear submarine technology with Australia in new pact
Ø US jobless claims remained near pandemic low last week
Ø Kotak group acquires vehicle loan business of Volkswagen Finance
Ø Dassault Systèmes, NITI Aayog partner to boost innovations
Ø T+1 Settlement system is in interest of market participants: Sebi Chief
Ø White Oak Capital group gets Sebi nod to become sponsor of YES Mutual Fund
Ø D2C Online brand Flatheads raises $1 Million in pre-Series A round.
🇮🇳Business News Headlines
Economic Times
Ø HCL Tech bags multi-year deal from Biotech firm Genmab
Ø JSPL’s Australian arm restarts operations at its Russell Vale mine
Ø Jet Airways defers fresh take-off plans for the fourth time
Ø Sebi proposes to revise settlement rules
Ø Sanse Engineering IPO sees 53% bid on Day 1
Ø India's August Merchandise Exports up 46% year-on-year: Govt
Ø GST Council may consider folding fuel sales into its regime
Ø Srei Infra CEO Rakesh Bhutoria resigns
Ø Cabinet may approve revised PLI Scheme for auto sector on Wednesday
Ø CarTrade launches one-stop services platform to buy, sell pre-owned cars
Ø ZEEL aims to enhance Profitability under ZEE 4.0: Punit Goenka
Business Standard
Ø Zee Entertainment AGM skips discussions on Invesco board removal plans
Ø HCL, HANCOM collaborate to share advanced software technology solutions
Ø Cabinet may consider relief package for telecom sector on Wednesday
Ø Resolution of 2 lending biz to cut 50% Reliance Capital debt: Anil Ambani
Ø HAL, Rolls-Royce sign pact for Make-in-India Adour engine parts
Ø Adani Transmission, Max Financials, Laurus Labs to gain from FTSE rejig
Ø India Inc sees 219 deals worth $8.4 bn in August, record volumes since 2005
Ø Tata Steel, JSW Steel betting big on tinplate
Ø Despite chip shortage, automakers expect better festive season
Ø Moody's assigns B1(hyb) rating to Axis Bank's proposed AT-I capital bonds
Ø India needs $8 trn in greenfield assets to become $5 trn economy: Deloitte
Financial Express
Ø Govt extends pulses import window till December 31
Ø IPO-bound OYO to become public limited company
Ø Infosys completes buyback of 5.58 crore shares worth Rs 9,200 crore
Ø Oil & Gas: High gas/LNG prices to help ONGC, OIL & GAIL
Ø High shipping costs: Scheme to aid farm exporters back & fortified
Ø Ami Organics IPO subscribed 64.54 times on closing day
Ø Godrej Consumer Products expects double-digit growth in FY'22
Ø CNG price may rise 10-11% in October
Ø Financial bids for BPCL after September
Ø NTPC Darlipali Thermal Power Station's Unit 2 to start commercial operation from Sep 1
Ø Edible oil import duty relief not fully passed on to consumers
Mint
Ø Softer tea prices to comfort Tata Consumer’s margins
Ø Yes Bank wants resolution on board revamp at Dish TV AGM
Ø Drop in retail inflation is a comfort but some spoilers lie ahead
Ø Volume growth, deleveraging to boost JSW Steel’s earnings
Ø Varun Beverages set to gain from robust growth outlook
Ø HUL’s vision is good but valuations may cap stock’s near-term upsides
Ø Oil India’s efforts to pare debt help boost investor sentiment
Ø Chip shortage drives tech companies and car makers closer
Ø Reliance Infra to use ₹7,100 cr from DMRC arbitral award to repay debt'
Ø PNB appoints Rekha Jain as shareholder director, Asha Bhandarker steps down
Ø India's space-tech startups steering a rough ride
Ø Yes Bank, 6 others pay Sebi ₹1.65 cr to settle unfair trade case
Ø HUL moves to recyclable bottles for Surf Excel Matic Liquid
🇮🇳Business News Headlines
Economic Times
Ø Freeze on Yes Bank’s 25.6% stake in Dish TV spooks privateY lenders
Ø Banks write off Rs 46,382 Crore NPA in H1
Ø HAL to manufacture first four light utility helicopters by 2022-23: Government
Ø RBI supersedes RCap board, starts insolvency proceedings
Ø IIFL Home Finance plans expansion, aims to raise up to Rs 1,000 crore
Ø Four CPSEs pay Rs 5,155 crore dividend to Government
Ø About Rs 52,000 cr GST compensation pending to states till Sept: Finance Ministry
Ø Over 5 lakh cos went out of biz, 7 lakh new cos registered in nearly 6 years
Ø New business premium of life insurers to grow 14% to Rs 3.18 lakh cr in FY2022: Study
Ø ABL Workspaces raises Rs 15 crore from Canada-based Ethik Inc
Ø Proptech startup Propdial raises Rs 1 crore via debentures
Business Standard
Ø Amazon infuses fresh capital of Rs 650 cr in Amazon Wholesale (India)
Ø Bharat Biotech resumes Covaxin export with 'long-pending orders' in Nov
Ø Hindujas top rich British Asians' list, wealth rises £2.5 billion
Ø Govt sells Central Electronics to Nandal Finance and Leasing for Rs 210 cr
Ø Reliance Infra plans series of measures to prune group debt by March
Ø IndiGo renews its partnership with French hospitality group Accor
Ø upGrad makes first overseas deal, snaps up Australian Global Study Partners
Ø Asian Paints to invest Rs 960 Cr to expand Gujarat unit's capacity
Ø Fitch affirms ICICI Bank's issuer default rating at 'BB+'; outlook negative
Ø Investments worth Rs 91,000 cr expected for airports development: Govt
Ø Net direct tax revenue rises 68% to Rs 6.92 trillion till Nov 23
Ø LIC gets RBI's nod to increase stake in Kotak Mahindra Bank to 9.99%
Financial Express
Ø Moody’s assigns stable outlook on Ola’s proposed $500-million debt fundraise
Ø Amrutanjan enters D2C segment with first offline store
Ø SBI signs MoU with Usha International for empowering women entrepreneurs
Ø NBFCs AUM likely to grow 8-10% in FY’23: Report
Ø Steel demand drops by 5 pc in FY21: Union minister
Ø 52.5 lakh houses delivered, over 83 lakh grounded for construction under PMAY-U: Govt
Ø Govt health expenditure share in GDP increases from 1.15 pc to 1.35 pc: NHA report for 2017-18
Ø Commerce Ministry recommends continuation of anti-dumping duty on Chinese tiles
Mint
Ø Zoho enters edtech biz with a focus on training
Ø Oil rebounds above $76 on speculation Omicron-related drop overdone
Ø PNB to invest in Open Network for Digital Commerce as promoter
Ø SC grants two weeks to Amazon to put its case before CCI in Future dispute
Ø German SaaS firm Celonis plans $100 mn investment in India, to hire 1,000 people
Ø Edtech 21K School raises $5 mn from Ronnie Screwala
Ø Nissan to spend $17.6 billion on battery-powered vehicles over five years
Ø India’s warehousing stock to touch 384 million sq ft by 2024: JLL
Ø Parliament passes bill to cancel three farm laws
Ø Demand for wedding services in tier-II cities jumps 106%, says study
🇮🇳Business News Headlines
Economic Times
Ø RBI imposes curbs on Babaji Date Mahila Sahakari Bank; caps withdrawals at Rs 5,000
Ø GDP likely to grow at 10-10.5% in FY2022: Report
Ø SBI Card to raise Rs 2,000 Cr by issuing bonds
Ø L&T construction arm bags orders worth up to Rs 2,500 Crore
Ø Britannia Q2 results: Consolidated PAT declines 23% YoY, margins contract; sales rise 5.5%
Ø Ujjivan SFB Q2 results: Co posts net loss at Rs 274 Cr
Ø Zoomcar gets $92 million in SternAegis-led round
Ø Edtech startup Brightchamps valued at nearly $500 million with Premji Invest-led funding
Business Standard
Ø Stock Exchanges to start T+1 settlement cycle from Feb 25, 2022 in Phases
Ø Shriram Capital closes in on a merger deal with two lending units
Ø Coca-Cola India net profit declines 28.4% to Rs 443.4 Crore in FY21
Ø RIL exits US shale gas business by divesting Eagleford Upstream asset stake
Ø Amazon Pay India's revenue grows 29% YoY to Rs 1,769 Crore in FY21
Ø HR tech start-up Advantage Club raises $5 million from Jetty, YCombinator
Ø Paytm's Rs 18,300 Crore IPO subscribed 18% on Day-1
Ø Flexi-cap fund assets cross Rs 2 trn in Q2FY22: Morningstar India
Ø US opens doors to international visitors as pandemic travel ban ends
Ø Sapphire Foods raises Rs 933 crore from anchor investors ahead of IPO
Financial Express
Ø Karur Vysya Bank Net Profit jumps 43% in Q2
Ø Wockhardt Q2 net profit zooms over 11-fold to Rs 37.17 Cr
Ø Benchmark yields soften as inflationary pressures ease
Ø India ahead of China in financial inclusion metrics now: Report
Ø FPIs can invest in debt securities issued by InvITs, REITS: RBI circular
Ø Inspira Enterprise gets Sebi’s go-ahead to raise Rs 800 Cr via IPO
Mint
Ø India may get $1 bn FII boost post revamp of MSCI index
Ø Sobha’s Q2 net profit jumps almost three-fold to Rs48.3 crore
Ø SoftBank reports $3.5 billion loss, hit by China’s tech crackdown
Ø Byju’s borrows $1.2 bn to spend on acquisitions
Ø Chinese junk bond yields top 25% as property-market strains intensify
Ø Blackstone to invest up to $250 million in Autolus Therapeutics of UK
Ø Shortfall in power supply to normalize by year-end: Govt
Ø Motherson Sumi to raise ₹1,000 cr via non-convertible debentures
Ø IBM sets up client innovation centre in Mysuru
Ø Centre to buy 1 Cr shots of Zydus Cadila's Covid-19 vaccine at ₹265 per dose
🇮🇳Business News Headlines
Economic Times
Ø India's top Steelmakers hike prices by Rs 3,000 - Rs 3,500 a Tonne due to rising cost inflation
Ø Exports rise for 11th month, up 43.3% in October
Ø Bank of Baroda to raise up to Rs 3,000 Crore via Basel III Bonds
Ø Shipping Corp Q2 results: Net Profit soars 71% to Rs 243 Cr
Ø Bajaj Consumer Care Q2 results: Net Profit down 18.3% to Rs 47 Cr
Ø Policybazaar IPO subscribed 54% on Day 1
Ø SBI to raise Rs 4000 Crore via bonds
Ø FASTag toll collection reaches record Rs 3,356 Crore in October
Ø GST collections for October at Rs 1.3 lakh crore, second highest ever
Ø Spacetech startup SatSure gets funding from Baring PE, others
Ø Neobank Fi valued at $315 million after $50 million funding led by B Capital
Business Standard
Ø COP26: India will reach net zero emissions by 2070, says PM Modi
Ø Tata Motors loss widens to Rs 4,415 Crore in September quarter
Ø Paytm to raise about Rs 8,250 Crore from anchor investors
Ø Kotak Special Situations Fund to invest Rs 1,000 Cr in Sify Infinit Spaces
Ø MakeMyTrip and Amazon Pay form strategic tie-up to offer travel services
Ø HDFC Ltd's Sept qtr net up 32% to Rs 3,780 Cr on spike in dividend income
Ø JSW Steel's US arm begins phase-II upgrade to reach newer markets
Ø Govt asks ONGC to give 60% stake in mainstay oil fields to foreign firms
Ø India Inc's top companies join the India-UK Climate Finance Initiative
Ø UPI registers record 4.21 bn transactions worth Rs 7.71 Trn in October
Ø PMI Manufacturing hits 8-month high but companies continue to shed jobs
Ø CMS Info Systems, Go Fashion, Tega get Sebi's go ahead to float IPOs
Ø Sebi forms IT project advisory committee to provide technical expertise
Ø Power consumption rises 4.8% to 114.37 BU in October: Power Ministry
Financial Express
Ø Coal India despatches at all-time high in first 7 months of current fiscal
Ø Bandhan Bank gets empanelled as agency bank of RBI
Ø Driving financial inclusivity is the key to achieving a US $5 trillion economy, say experts at ASSOCHAM Summit
Ø Punjab & Sind Bank posts Rs 218cr profit in Jul-Sept
Ø Aditya Birla Capital posts its highest quarterly profit of Rs 377cr in Jul-Sep
Ø GST: October e-way bill generation at record 7.35 Crore
Ø Unemployment rate rises again, at 7.75% in Oct
Ø About 80% of economy now formal following digitisation drive, pandemic: SBI Report
Ø Diesel sales rise above pre-COVID levels in Oct
Mint
Ø Taxpayers can send online feedback on annual information statement: I-T department
Ø upGrad partners with Swiss School of Business and Management for MBA programme
Ø Serum's partner Novavax gets first emergency use authorization for its vaccine
Ø Yellen says G20 only a few billion short of $100 Billion Climate Pledge
Ø India trade deficit widens 117% to $20 bn as imports rise 62%
Ø ICICI Lombard ties up with Vega Helmets to increase road safety awareness
Ø Franklin Templeton agrees to buy Lexington Partners for $1.75 Billion
Ø ATF prices rise 13.8% in a month, 96% in a year
Ø Mumbai sees 8% rise in registration of housing properties in Oct
Ø Govt brings back biometric attendance for employees of all levels from 8 Nov
Ø Airtel launches initiative to showcase 5G use cases for enterprises
🇮🇳Business News Headlines
Economic Times
Ø Maruti Suzuki plans to widen CNG Portfolio as petrol, diesel prices rise
Ø L&T's Construction arm bags 'large' order from CPWD
Ø UTI AMC Q2 results: Net Profit up 68% to Rs 199 Crore
Ø Reliance Infra Q2 results: Co reports net loss at Rs 287 Cr
Ø Fino Payments Bank raises Rs 539 Cr from anchor investors ahead of IPO
Ø IMF advises RBI to go slow on reserves accumulation
Ø Centre releases balance Rs 44,000 crore to states to meet GST compensation shortfall
Ø Smartphone shipment dips 2% to 52 million units in September qtr: Counterpoint
Ø Govt asks IRCTC to share 50% of revenue from convenience fee
Ø Hypto raises $3 Million in seed funding from Stellaris, others
Ø Petcare startup Wiggles raises $5.5 million from Anthill Ventures, others
Ø US returns 248 antiquities valued at $15 million to India
Business Standard
Ø Less than 1% of Companies went for restructuring under second offer: Crisil
Ø IndiGo Q2 results: Loss widens 20% to Rs 1,435 cr on rising crude oil
Ø JK Tyre Profit falls 41% in September quarter on back of rising input costs
Ø UCO Bank logs multifold jump in Q2 net profit at Rs 205 Crore
Ø Govt fast-tracks planning, approval process for power transmission projects
Ø Morgan Stanley downgrades Indian markets, advises partial sell-off
Ø Sugar output pegged lower by 2.2% for 2021-22 season: ISMA
Ø Govt extends nationwide containment measures till November 30
Ø Utilities' Sept coal imports at 7 yr-low despite call to boost shipments
Ø US President Joe Biden unveils plan to invest $555 bn on green energy
Financial Express
Ø India smartphone shipments decline 2% Y-o-Y in Q3 2021: Counterpoint
Ø Indian Bank Q2 net profit jumps 164% to Rs 1,089 Crore
Ø DLF Q2 FY22 net profit up 61% to Rs 380 crore
Ø Reliance Jio clears all dues amounting to Rs 10,700 Crore for 2016 spectrum auction
Ø NTPC Quarterly Profit rises to Rs 3,691 crore
Ø SBI Card Q2 net jumps 67 pc to Rs 345 cr
Ø Anarock sells housing properties worth Rs 8,084 cr on behalf of builders in Apr-Sep; 82% annual rise
Ø Sitharaman to attend G-20 joint finance, health ministers meet in Rome
Ø NBFCs rush to issue ultra-short-term debt papers to fund IPOs
Mint
Ø Fundraising via initial public offerings may be near ₹1 tn in 2021
Ø Trentar acquires 75% stake in drone propulsion system startup Trishula
Ø Centre receives ₹413 crore as dividend from NBCC, NALCO, 3 other CPSEs
Ø Tata Power’s Q2 profit up 36% to ₹506 crore on cost savings
Ø Infosys, bp sign pact to develop 'Energy as a Service' solution
Ø US jobless claims fall to new pandemic low
Ø UniPin Partners with MobiKwik to redefine payment experience for users
Ø Geojit Q2 Net Profit rises 22% to ₹40.5 crore
Ø Star India reports profits of ₹1,395 crore for FY21
Ø Eldeco raises ₹275 Crore debt from Tata Capital for mid-income housing projects
Ø Avanti Finance raises $15 Million in Series A Extension
🇮🇳Business News Headlines
Economic Times
Ø Brookfield, Godrej Fund in race to acquire IL&FS’ Headquarters in Mumbai’s BKC
Ø Restaurant Industry contracts 53% due to Pandemic : NRAI
Ø Canara Bank raises Rs 1,500 cr through bonds
Ø SpiceJet announces launch of 28 new Domestic Flights
Ø Tech Mahindra Q2 results: Net profit rises 26% YoY to Rs 1,339 cr, new deal wins at $750 Millions
Ø Quick Heal Q2 Results: Net Profit rises 20.1% to Rs 34.6 Cr
Ø CCI approves HDFC Bank's acquisition of 4.99 pc stake in HDFC ERGO General Insurance Co
Ø Dhruva Space secures Rs 22 crore funding from IAN, Blue Ashva Capital
Ø Thrasio raises $1 billion in funding led by Silver Lake
Business Standard
Ø Bharti Airtel opts for Four-year Moratorium on payment of AGR dues
Ø Inox Wind arm inks share purchase agreement to divest stake in six firms
Ø Three FIIs jointly acquire 2.64% stake in telecom equipment maker HFCL
Ø HDFC AMC Q1 profit up 2% at Rs 344.5 cr; Birla AMC rises 38% to Rs 173 cr
Ø Govt signs share purchase agreement with Tatas for Air India sale
Ø JSW Steel to invest Rs 150 crore to set up steel facility in Kashmir
Ø RIL to press KG-Basin for higher revenues after govt hikes gas price
Ø Life insurers pay out Rs 11,060 crore in Covid-19 death claims
Ø FM asks Civil aviation ministry, DoT to expedite capital expenditure
Ø Banks extend Rs 11,168 Cr loans in outreach Programme during festive season
Ø TVS Motor ties up with Bahwan International to strengthen presence in Iraq
Financial Express
Ø CSB Bank net soars 72% on lower Provisioning
Ø The Ramco Cements Q2 net profit jumps to Rs 519.12 Crore
Ø BharatPe raises Rs 100 Crore in debt from MAS Financial
Ø Non-food Credit growth stuck at 6.5% despite festive season onset
Ø Accurate Audit reports essential for stability, growth: RBI Governor Shaktikanta Das
Ø Bharat Forge announces VRS scheme for employees at Mundhwa plant in Pune
Mint
Ø Byju’s looks to raise $500 Million debt
Ø Tech Mahindra acquires Lodestone and WMW for $118 million to bolster digital portfolio
Ø IPO-bound Nykaa looks to expand into Middle East, Europe
Ø Telecom Operators seek 6-month extension of 5G trial period
Ø Economy likely to register 9.5% growth this fiscal: Report
Ø Solar Power tariffs may touch ₹2.7 a unit: Crisil
Ø BPCL privatisation delayed as suitors strive for partners
Ø Airports record 8.27% more passengers in September
Ø Porter raises ₹750 cr from investors led by Tiger, Vitruvian at a valuation of ₹3,750 cr
Ø US, Biological E finalise $50 Million financing deal for Covid shots
Ø Dresma.ai Inc raises $3 mn from SVQuad, Inventus Capital Partners, Thinkuvate
🇮🇳Business News Headlines
Economic Times
Ø Sebi levies Rs 50 Lakh fine on 5 Entities, also bans them from Securities market
Ø Tata Steel looks well placed amid sustained demand, cost advantage
Ø UBS says India's Equity valuations are unattractive, double upgrades China
Ø Tobacco tax concern may weigh on ITC shares till Budget
Ø IT firms may take a 1-3% hit on margins as travel resumes
Ø Further steel price hike would not be good for customers, says JSPL MD
Ø Oil drops on China intervention to ease coal crunch
Ø India looks at close to double digit growth this year: FM Sitharaman
Ø Govt receives financial bids for stake in Central Electronics
Ø Power generation in eastern region logs 8 pc growth, others register decline
Business Standard
Ø Future Retail must take part in Amazon dispute arbitration: Singapore panel
Ø Vodafone Idea accepts four-year payment moratorium on AGR dues
Ø Higher raw material costs dent Nestle's operational performance in Sept qtr
Ø Govt to soon reach out to potential buyers of debt-laden IDBI Bank
Ø Air India divestment will re-energise civil aviation sector, says PM Modi
Ø Former State Bank of India chief Rajnish Kumar joins BharatPe as chairman
Ø YES Bank to take 2 more years to stabilise, says former SBI chief
Ø China's curbs on fertiliser exports may affect India, says report
Ø Tesla car to be affordable in India, will cost Rs 35 lakh, says Gadkari
Ø Reliance Retail acquires 52% stake in designer Ritu Kumar's company
Financial Express
Ø Moody's upgrades banking system outlook to 'stable'; economic recovery to drive credit growth
Ø Bharti's OneWeb partners with ISRO for satellite launch in India; aims to enhance digital connectivity
Ø Securitisation transactions witness improvement in collection efficiency in August
Ø Sebi tweaks norms for REITs, InvITs on exit option for dissenting unit holders
Ø India warns of high oil prices hurting global economic recovery
Ø No application for virtual internship to be entertained: Sebi
Ø Sebi nod to Rs 6K-crore PolicyBazaar IPO
Ø Tea imports from Nepal hurting Indian tea industry
Ø Financial bids for BPCL after September
Ø Tax implications on capital gains earned by NRIs
Ø Cotton association lowers current season’s crop estimate
Mint
Ø Infosys raises FY22 outlook, Wipro hits $10 billion run rate
Ø CarDekho is eyeing a public listing in the next 18 months: CEO Jain
Ø Dish TV rejects Yes Bank’s proposal to hold an EGM
Ø The Sony-Zee game plan for Indian Premier League
Ø Unicorns see meteoric rise in valuations as their tribe increases
Ø Adani Wilmar’s IPO is likely to get Sebi approval this week
Ø Sajjan Jindal appointed chairman of World Steel Association
Ø EU in talks to delay reforms for $61 trillion securities market
Ø Reliance Infra to use ₹7,100 cr from DMRC arbitral award to repay debt'
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Tata Steel becomes 24th company to join Sea Cargo Charter to meet climate goals
Ø Oil-sensitive currencies get a bigger boost with crude above $80
🇮🇳Business News Headlines
Economic Times
Ø Economy coming out of the Shadow of the Pandemic : RBI Paper
Ø PolicyBazaar's parent firm gets Sebi approval for IPO
Ø Byju’s leases office space in Mumbai’s Andheri at Rs 1.67 Crore annual rent
Ø Future Deal: Creditors, shareholders of Reliance Retail allowed to hold meetings
Ø SBI raises Rs 6,000 Cr by issuing Bonds
Ø Equitas Small Finance Bank to raise Rs 1000 Crore in QIP
Ø LTI Q2 results: Net Profit up 20.8%, revenue rises by 25.6%
Ø UltraTech Q2 Results: Net profit rises 7.6% YoY, misses estimate
Ø Average cost for State debt plunges 27 BPS to 6.72%
Ø China's Economy weakens as GDP in Q3 declines to 4.9 per cent
Ø SaaS Labs raises $17 Million in maiden funding round
Ø Numadic gets $2.5 million funding from 9Unicorns, Venture Catalysts, others
Business Standard
Ø India pushing to get LIC IPO done on time: FM Sitharaman
Ø Sterlite Power wins order for Rs 324-crore transmission project
Ø Tata Coffee Q2 net up 26.55% to Rs 53.66 crore
Ø Adani Ports & SEZ raises Rs 1,000 crore through non-convertible debentures
Ø DoT tells Airtel, Voda Idea, Jio to decide on AGR moratorium in 10 days
Ø Indian startup funding crosses $10 Bn in Q3, first time in any quarter: PwC
Ø Indian Travel Market to cross $125 Billion by FY27, says report
Ø ISA targets $1 Trn in Solar funds by 2030; S Asia in phase-1 of world grid
Ø RBI imposes Rs 1 Crore Penalty on State Bank of India
Ø GPT Healthcare files draft IPO papers with Sebi; may raise up to Rs 500 Cr
Ø Volvo Car eyes $2.6 Billion through Stockholm IPO, says report
Financial Express
Ø NTPC Renewable invites EoI for 15,000 MW module supply
Ø RBI slaps Rs 1.95-cr fine on StanChart for lapses in compliance
Ø Coal India arm MCL dispatches over 5.47 lakh tonnes of dry fuel
Ø VIL teams up with Larsen and Toubro for trials of 5G-based smart city solutions
Ø Housing sales up 59 pc annually in Jul-Sep across 8 cities; jump over 3-fold from June quarter
Ø Agri Exports up 18% to $10 billion in H1
Ø RBI remains net purchaser of US dollar in August
Ø India to request oil exporters to raise output for price relief
Ø India’s mineral production rises 24 pc in August
Ø Govt buys 56.62 Lakh Tonnes of Paddy so far in kharif marketing season for Rs 11,000 Cr
Mint
Ø Govt may weigh single tax for online gaming
Ø Federal Bank eyes initial share sale in NBFC unit Fedfina
Ø Govt may ease GST norms on re-export of leased aircraft
Ø Cred closes $251 Million fresh fundraise at a valuation of $4 Bn
Ø CCI okays acquisition of Hinduja Group's healthcare BPO services by Betaine
Ø US industrial output drops 1.3% in Sept amid supply issues: Fed
Ø Foxconn unveils first Electric-vehicle prototypes
Ø Amazon plans to hire 150,000 for holiday, 50% more than in 2020
Ø Domestic air passenger traffic grew 5.45% in Sep
Ø D2C Jewellery brand Melorra expands offline footprint
Ø Consumer Confidence up in October but unemployment worries urban Indians
Ø Toyota to build first US Battery plant under $3.4 Billion plan
🇮🇳Business News Headlines
Economic Times
Ø CarDekho enters unicorn club with $250 Million funding led by Leapfrog Investments
Ø Inflation hits an eight-month low, eases to 4.35% in September
Ø Government promoting ethanol production in a big way: Nitin Gadkari
Ø Indian Economy to grow at 9.5 per cent this year and 8.5 in 2022: IMF
Ø TPG to invest Rs 7,500 Cr in Tata Motors EV arm at $9.1 Bn Valuation
Ø Future, Amazon set to mull truce, may go for out-of-court settlement
Ø Cabinet approves Rs 28,655 Cr net subsidy on P&K fertilisers for rabi season to benefit farmers; extra subsidy on DAP
Ø RIL invests in German solar wafer company NexWafe, signs pact with Danish hydrogen electrolyser firm Stiesdal
Ø FloCareer raises $5.7 Million from Data Point Capital, others
Ø Edtech startup Creative Galileo raises $2.5 Million in funding from Kalaari Capital, others
Business Standard
Ø Power Ministry asks thermal units to import coal for minimum 10% blending
Ø Bharat Biotech's Covaxin gets expert panel's nod for children above 2 Years
Ø Foxconn's Bharat FIH opens research, development centre in Chennai
Ø Airlines can now operate at full capacity, flight restrictions lifted
Ø Flipkart Wholesale sees 70% e-commerce adoption by kiranas at festive sale
Ø Google, Temasek back Indian neo-banking firm Open with $100 Mn Investment
Ø TDSAT asks DoT not to encash BGs against Airtel, VIL till next hearing
Ø Govt gets financial bids for Central Electronics after Air India deal
Ø IIP rises past Pre-Covid level; grows 11.9 per cent in August
Ø RBI issues SFB licence to Centrum-BharatPe consortium
Financial Express
Ø DoT scraps FBG requirement for annual spectrum instalment; notifies spectrum reforms
Ø M2P Fintech raises $35 Million from Tiger Global, others
Ø L&T Construction bags ‘significant’ orders for various businesses
Ø Tata Power Solar bags orders worth Rs 538 Cr from EESL
Ø India to eventually gain from OECD Global tax deal: CBDT
Ø Concor strategic sale not happening this fiscal: Official
Ø GSTN blocks Rs 14,000-Crore input tax credits of 66,000 Taxpayers
Ø India calls for IPR waiver in WTO, dismantling trade barriers in Global fight against pandemic
Mint
Ø Cabinet approves continuation of Swachh Bharat mission
Ø Choice Group takes over MF distribution biz of Centcart
Ø Accenture to acquire AI, analytics company BRIDGEi2i
Ø Cleartrip reports net loss of ₹25.4 Crore in FY 2020-21
Ø India bond index inclusion to trigger up to $40 Billion inflows, says HSBC
Ø Tata Capital invests ₹130 Crore in Prescon Group’s Mahim project
Ø ReshaMandi raises $30 Million in Series A funding
🇮🇳Business News Headlines
Economic Times
Ø Reliance New Energy Solar buys REC Solar Holdings for $771 Mn
Ø Air India sale: Govt to issue LoI to Tata Group on Monday
Ø Macrotech Developers sells Rs 3,000 Cr worth Properties in Apr-Sep; aims Rs 6,000 Cr sales in H2
Ø After Air India, Govt set to sell Alliance Air
Ø Ascent Capital-backed Radiant Cash Management Services files IPO papers
Ø India accounts for nearly 3% of global IPO proceeds worth $330.6 Bn in Jan-Sep
Ø Centre imposes stock limits on edible oils to soften prices in domestic market
Ø Govt initiates process for filling posts of independent directors in PSBs, FIs
Ø RBI imposes Rs 2 crore penalty on RBL Bank
Ø Bank of India raises Rs 1,800 cr via Basel-III-compliant bonds
Ø Tatas likely to raise up to Rs 15,000 crore in loans to support Air India purchase
Business Standard
Ø RIL to buy 40% stake in Sterling & Wilson Solar for Rs 2,850 Crore
Ø Reliance buys Norway's REC Solar Holdings from China's Bluestar for $771 mn
Ø EY burnishes its credentials with successful Air India sale to Tatas
Ø RBI keeps rates on hold to support recovery, 'sail towards normal times'
Ø Coal's problems are governance, not climate regulation
Ø Govt issues guidelines for optimum utilisation of power generation capacity
Ø Sebi asks exchanges, clearing corporations to display complaints on website
Ø Icra revises up India's fiscal 2022 GDP growth forecast to 9%
Ø Tesla car to be affordable in India, will cost Rs 35 lakh, says Gadkari
Ø NCLT asks Zee Entertainment to file reply to Invesco plea by October 22
Financial Express
Ø FPIs remain bullish on India, invest Rs 1,997 crore so far in October
Ø Sebi bars NCDEX from launching new mustard seed contracts
Ø CERC-Sebi dispute: Supreme Court decision paves way for power futures
Ø Sebi tweaks norms for REITs, InvITs on exit option for dissenting unit holders
Ø Bond yields rise on sharp increase in oil prices
Ø Reliance acquires Norway's REC Solar, 40% in Sterling & Wilson Solar for Rs 8,645crore
Ø SEBI bans Infosys employee from stock markets on insider trading charges, impounds Rs 2.6 crore
Ø GI tag for basmati rice: Nepal poses big threat to India, increase acreage
Ø Financial bids for BPCL after September
Ø Govt amends rules to allow 50% sale of coal from captive mines
Ø Real Estate: September numbers for Mumbai a positive
Mint
Ø The coal maker sitting pretty on tight supply and high prices
Ø Sebi proposes higher net worth for brokers to tackle possible risks
Ø Merger mania is only part of the solution for asset managers
Ø The Sony-Zee game plan for Indian Premier League
Ø Sugar makers are in a sweet spot, but cane prices can be a bugbear
Ø RBI push to independently set reverse repo rate draws flak
Ø Oil India’s efforts to pare debt help boost investor sentiment
Ø Chip shortage drives tech companies and car makers closer
Ø Reliance Infra to use ₹7,100 cr from DMRC arbitral award to repay debt'
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Tata Steel becomes 24th company to join Sea Cargo Charter to meet climate goals
Ø NCR's real estate nightmare is coming to an end
🇮🇳Business News Headlines
Economic Times
Ø Gokaladas Exports raises Rs300 Cr through QIP
Ø Piramal Enterprise gets Board nod for Demerger and listing of Pharma Business
Ø Reliance to bring 7-Eleven Convenience Stores in India
Ø India Inc to post 20% Revenue Growth in Q2: report
Ø Coffee Producers urge Finance minister Nirmala Sitharaman to restructure Rs 5,000 Crore outstanding loans
Ø Fitch slashes India's Growth forecast for FY22 to 8.7% from 10%, Sovereign rating unchanged
Ø India’s Unemployment rate falls sharply in September to 6.86%: CMIE
Ø Blackstone announces acquisition of visa outsourcing firm VFS Global
Ø India joins Global Coalition to protect 30% of the Earth by 2030
Ø Oberoi Realty Q2 Sales bookings jump over 2-fold to Rs 828.52 Cr
Ø Mutual funds remain most attractive tool of investment during pandemic: Survey
Ø Stader Labs raises $4 Million in round led by Pantera Capital
Business Standard
Ø Coal-parched steel, aluminium firms battle lower utilisation, higher costs
Ø Mukesh Ambani tops Forbes India rich list with $92 Billion net worth
Ø IIFL Finance bonds issue to close early on October 8 due to strong demand
Ø NCLAT gives more time to Zee to file reply to Invesco's plea for EGM
Ø Ola launches vehicle buying platform Ola Cars, names Arun Sirdeshmukh CEO
Ø Cloud kitchen startup Rebel Foods is 31st Indian unicorn, raises $175 mn
Ø Paytm in talks with sovereign wealth funds, BlackRock for IPO stakes
Ø Delhi Airport sees record number of passengers after second Covid-19 wave
Ø Centre releases Rs 40k cr to states/UTs to meet GST Compensation shortfall
Ø EXIM Bank plans to raise about $1 billion through bonds in January
Ø Life insurers see impressive 22% YoY growth in new business premium in Sept
Ø Global Debt to hit 260% of GDP, but low interest rates to help: S&P
Ø India to allow foreign tourists travelling by chartered flights from Oct 15
Ø World food prices rise for 2nd consecutive month, hit 10-year peak: FAO
Financial Express
Ø Emami Agrotech to invest Rs 1,500 crore over next 3 years, aims to become complete food company
Ø UPPCL cash gap swells to Rs 13000 crore in April-September period, dues to gencos at Rs 17,000 Crore
Ø Veritas Finance raises Rs 440 Crore in Series F round
Ø BPCL privatisation: SEBI unlikely to exempt open offers for Petronet, IGL
Ø NTPC, Électricité de France ink pact for international power project development opportunities
Ø Govt Policies directed at fostering competition: CEA
Ø Veritas Finance raises Rs 440 crore in Series F round
Mint
Ø Retail inflation may ease further to 4.5% in Sep
Ø Centre releases guidelines for cybersecurity in power sector for first time
Ø Pfizer-BioNTech seek US authorization of their Covid vaccine for kids aged 5-11
Ø IMF urges Governments to make fiscal plans to tame pandemic debt
Ø US initial jobless claims fell more than expected last week
Ø Twitter sells mobile ad firm MoPub to AppLovin for $1.05 billion
Ø Twin Health raises $140 mn for expansion
Ø LetsVenture’s new business entity Trica raises $3 million in seed funding
Ø Intent to hire is the highest in IT sector in India: TeamLease Report
🇮🇳Business News Headlines
Economic Times
Ø Gautam Adani seals the largest deal in India's Renewable Sector with SB Energy buy for $3.5 Billion
Ø Sebi slaps Rs 1.02 Cr fine on Aditya Birla Money for mkt norms violation
Ø Q2 IT Preview: Growth momentum strong, but margin pressure likely
Ø Fino Payments Bank gets Sebi nod for initial share sale
Ø OPEC+ sticks to planned moderate hike in output
Ø ICRA revises energy demand growth outlook for FY22 upwards to 8.5%
Ø Sebi board okays steps to make M&As easier
Ø Aditya Birla Sun Life AMC IPO fully subscribed on Day 2
Ø RBI imposes Rs 2 crore penalty on RBL Bank
Ø Bank of India raises Rs 1,800 cr via Basel-III-compliant bonds
Ø Consumption recovery to improve from early 2022: Morgan Stanley
Business Standard
Ø Invesco asks NCLT to make 'mandatory order' directing Zee to call for EGM
Ø Indian IT's Q2 Results to reflect growing digital transformation demand
Ø Edtech giant Byju's is raising $300 mn, valuation may touch $18 bn
Ø FPIs petition Sebi again asking it to defer T 1 Settlement cycle
Ø Govt to borrow Rs 5.03 trn in H2FY22 to fund revenue gap: Finance Ministry
Ø Sebi proposes sweeping changes to HNI allotment process for IPOs
Ø Sebi asks exchanges, clearing corporations to display complaints on website
Ø Icra revises up India's fiscal 2022 GDP growth forecast to 9%
Ø Cabinet approves ECGC IPO, Rs 4,400 crore capital infusion: Goyal
Ø Fino Payments Bank gets Sebi nod for initial share saleto raise Rs 1,300 cr
Financial Express
Ø HDFC Bank & HDFC Securities invests USD 1 Million in Borderless Softtech (Stockal)
Ø Invesco moves NCLT over extraordinary general meeting of ZEEL
Ø Recover dues from sugar mills by tagging bags, Maharashtra tells banks
Ø IDFC Mutual Fund launches #PaisonKoRokoMat campaign
Ø Bond yields rise on sharp increase in oil prices
Ø SpiceJet joins hands with travel portal EaseMyTrip
Ø SEBI bans Infosys employee from stock markets on insider trading charges, impounds Rs 2.6 crore
Ø Icra revises up India's fiscal 2022 GDP growth forecast to 9%
Ø Financial bids for BPCL after September
Ø Shorter settlement cycle is in interest of all market participants: Sebi chief
Ø NTPC gets shareholders’ nod to raise up to Rs 18,000 cr via bonds
Mint
Ø Sebi unhappy with Baba Ramdev’s viral stock sermon
Ø Sebi proposes higher net worth for brokers to tackle possible risks
Ø Merger mania is only part of the solution for asset managers
Ø The Sony-Zee game plan for Indian Premier League
Ø Sugar makers are in a sweet spot, but cane prices can be a bugbear
Ø RBI push to independently set reverse repo rate draws flak
Ø Oil India’s efforts to pare debt help boost investor sentiment
Ø Chip shortage drives tech companies and car makers closer
Ø Reliance Infra to use ₹7,100 cr from DMRC arbitral award to repay debt'
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Tata Steel becomes 24th company to join Sea Cargo Charter to meet climate goals
Ø HDFC Bank didn't flag forgery attempts but charged fees, says Whistleblower
🇮🇳Business News Headlines
Economic Times
Ø Piramal completes Acquisition of DHFL for Rs 34,250 Crore, Biggest Resolution in value terms
Ø UBL may have to take on debt for CCI's Rs 752 Crore penalty
Ø ED attaches assets of DHFL's Wadhawans
Ø NSE-BSE Bulk deals: Standard Life sells 5% stake in HDFC AMC
Ø RBI lifts prompt corrective action curbs from Indian Overseas Bank
Ø Sebi board okays steps to make M&As easier
Ø US-based PE fund CVC Cap leads race to buy Sajjan India
Ø RBI imposes Rs 2 Crore penalty on RBL Bank
Ø NTPC gets shareholders' nod to raise up to Rs 18,000 cr via bonds
Ø Shriram Housing Finance explores acquisition to grow in size
Business Standard
Ø RIL backs Saudi Aramco Chairman appointment as Independent Director
Ø DHFL acquisition to see Piramal Enterprises sharpen its retail focus
Ø Sebi introduces swing pricing to protect debt mutual fund investors
Ø Vodafone Idea reworking business plans after Govt reforms' Boost
Ø Govt to borrow Rs 5.03 trn in H2FY22 to fund revenue gap: Finance Ministry
Ø Aditya Birla AMC eyes Rs 20,500 cr valuation in Rs 2,768 cr IPO
Ø Godrej Consumer eyes double-digit growth in FY22, expansion across sections
Ø ICRA revises up India's fiscal 2022 GDP growth forecast to 9%
Ø Cabinet approves ECGC IPO, Rs 4,400 crore capital infusion: Goyal
Ø Govt to extend existing foreign trade policy till March next: Goyal
Financial Express
Ø Yields on corporate bond, treasury-bills, commercial papers rise on domestic concerns
Ø Invesco moves NCLT over extraordinary general meeting of ZEEL
Ø SBI signs pact with three NBFC-MFIs for co-lending to joint liability groups
Ø IDFC Mutual Fund launches #PaisonKoRokoMat campaign
Ø Bond yields rise on sharp increase in Oil Prices
Ø SpiceJet joins hands with travel portal EaseMyTrip
Ø SEBI bans Infosys employee from stock markets on insider trading charges, impounds Rs 2.6 crore
Ø ICRA revises up India's fiscal 2022 GDP growth forecast to 9%
Ø Financial bids for BPCL after September
Ø Shorter settlement cycle is in interest of all market participants: Sebi chief
Ø Trying to ease rules to make it easier for units to exit SEZs: Goyal
Mint
Ø Paint Manufacturers may face disruption from chip shortage
Ø Sebi proposes higher net worth for brokers to tackle possible risks
Ø Merger mania is only part of the solution for asset managers
Ø The Sony-Zee game plan for Indian Premier League
Ø Sugar makers are in a sweet spot, but cane prices can be a bugbear
Ø RBI push to independently set reverse repo rate draws flak
Ø Oil India’s efforts to pare debt help boost investor sentiment
Ø Chip shortage drives tech companies and car makers closer
Ø Reliance Infra to use ₹7,100 cr from DMRC arbitral award to repay debt'
Ø Cognizant’s Humphries struggles to build stable leadership
Ø Federal Bank partners with NPCI to launch credit card with lowest APR
Ø Tata Steel becomes 24th Company to join Sea Cargo Charter to meet climate goals
Ø HDFC Bank raises ₹5,000 Crore via bonds
🇮🇳Business News Headlines
Economic Times
Ø KEC International buys Gujarat company for Oil & Gas Projects
Ø Airtel commits to big cut in emissions by 2030-31
Ø SpiceJet gets shareholders’ nod to transfer cargo and logistics biz to subsidiary
Ø At Rs 3,750 crore, Reliance Industries to spend 25% more on JioPhone subsidy
Ø NSE-BSE bulk deals: CA Rover Holdings sells stake in SBI Cards
Ø Kotak buys 9.9% in KFin Technologies for Rs 310 crore
Ø IPO-bound Paytm employees add 5.45 lakh more shares for monetisation
Ø Paras Defence IPO subscribed 16.6 times on day 1
Ø Our IPO will provide bountiful rewards to employees: MobiKwik
Ø Shift to T+1 settlement cycle won’t impact India’s appeal to FPIs: Sriram Krishnan
Ø Kharif foodgrain output estimated at a record 150.50 million tonne this year, says Centre
Business Standard
Ø Adani takes on Mukesh Ambani, to invest $20 bn in renewable energy
Ø India plan for tighter e-commerce rules faces internal govt dissent: Report
Ø Street finds comfort in hospitality stocks on hopes of recovery in biz
Ø Tata Motors to hike commercial vehicle prices by around 2% from Oct 1
Ø State Bank of India prepared to support Tata group's bid for Air India
Ø Pharma companies lead topline growth in Q1FY22: ICICI Direct Research
Ø Godrej Consumer eyes double-digit growth in FY22, expansion across sections
Ø Tata Steel, JSW Steel betting big on tinplate
Ø Despite chip shortage, automakers expect better festive season
Ø FMCG major Emami aims decent margin in FY22 despite hike in input cost
Ø Adani takes on Mukesh Ambani, to invest $20 bn in renewable energy
Financial Express
Ø Govt clears sugar export subsidy worth Rs 1,800 crore so far this season
Ø Lenders seek fresh bids for Videocon
Ø VIL promoters likely to infuse equity
Ø ITC Rating: Buy – Status quo on tax is a positive for firm
Ø JSW Steel raises USD 1 bln through bonds issuance in overseas market
Ø Ami Organics IPO subscribed 64.54 times on closing day
Ø Godrej Consumer Products expects double-digit growth in FY'22
Ø CNG price may rise 10-11% in October
Ø Financial bids for BPCL after September
Ø Shorter settlement cycle is in interest of all market participants: Sebi chief
Ø Reforms in pipeline to deepen bond market: SEBI chief
Mint
Ø Vodafone Idea may get a surprise cash infusion
Ø Bad bank is here but don't expect a miracle on recoveries
Ø Drop in retail inflation is a comfort but some spoilers lie ahead
Ø Volume growth, deleveraging to boost JSW Steel’s earnings
Ø Varun Beverages set to gain from robust growth outlook
Ø HUL’s vision is good but valuations may cap stock’s near-term upsides
Ø Oil India’s efforts to pare debt help boost investor sentiment
Ø Chip shortage drives tech companies and car makers closer
Ø Reliance Infra to use ₹7,100 cr from DMRC arbitral award to repay debt'
Ø PNB appoints Rekha Jain as shareholder director, Asha Bhandarker steps down
Ø India's space-tech startups steering a rough ride
Ø Yes Bank, 6 others pay Sebi ₹1.65 cr to settle unfair trade case
Ø RIL in talks with China’s Hualu to make key component of solar panels
🇮🇳Business News Headlines
Economic Times
Ø Govt clears Telecom Relief package; offers option to convert part of statutory dues into equity
Ø Shree Cement to invest Rs 4,750 Cr in Rajasthan
Ø Tata Motors’ PV Business turnaround impresses Shapoorji Pallonji Group
Ø NSE-BSE bulk deals: Stitching Depositary, American Funds buys units in Embassy REIT
Ø Blackstone sells 6% Stake in Embassy Office Parks REIT, raises over Rs 2,020 Crore
Ø India seeks $109 Bn valuation in LIC’s mega IPO
Ø Truecaller plans to list on Nasdaq Stockholm
Ø Srei Infra CEO Rakesh Bhutoria resigns
Ø Sansera Engineering IPO fully subscribed on Day 2
Ø CarTrade launches one-stop services platform to buy, sell pre-owned cars
Ø JSW Steel obtains five-times higher bids for $1 bn offshore bond sales
Business Standard
Ø Telecom reforms usher in new era for India's digital ambitions: Telcos
Ø Tatas, SpiceJet's Ajay Singh submit financial bids to acquire Air India
Ø Adani Transmission to invest Rs 1,200 cr in MP to strengthen power system
Ø 5G spectrum auction most probably in February 2022: Telecom minister
Ø Improved volumes, margins point to strong FY22 for Concor
Ø Axis board gives approval to reclassify Oriental Co as public shareholder
Ø Fitch upgrades outlook on Shriram Transport from 'negative' to 'stable'
Ø Tata Steel, JSW Steel betting big on tinplate
Ø Despite chip shortage, automakers expect better festive season
Ø 'PLI for auto aims to ramp up new technologies in the sector'
Ø India needs $8 trn in greenfield assets to become $5 trn economy: Deloitte
Financial Express
Ø SC says no power to condone delay in NSEL appeal
Ø IPO-bound OYO to become public limited company
Ø Infosys completes buyback of 5.58 crore shares worth Rs 9,200 crore
Ø Maharashtra to start sugar crushing season on Oct 15
Ø Edible oil import duty relief not fully passed on to consumers
Ø Ami Organics IPO subscribed 64.54 times on closing day
Ø Godrej Consumer Products expects double-digit growth in FY'22
Ø CNG price may rise 10-11% in October
Ø Financial bids for BPCL after September
Ø NTPC Darlipali Thermal Power Station's Unit 2 to start commercial operation from Sep 1
Ø Edible oil import duty relief not fully passed on to consumers
Mint
Ø AUM Growth so far may put a shine on fund houses’ earnings
Ø Yes Bank wants resolution on board revamp at Dish TV AGM
Ø Drop in retail inflation is a comfort but some spoilers lie ahead
Ø Volume growth, deleveraging to boost JSW Steel’s earnings
Ø Varun Beverages set to gain from robust growth outlook
Ø HUL’s vision is good but valuations may cap stock’s near-term upsides
Ø Oil India’s efforts to pare debt help boost investor sentiment
Ø Chip Shortage drives tech companies and car makers closer
Ø Reliance Infra to use ₹7,100 Cr from DMRC arbitral award to repay debt'
Ø Sebi confirms directions passed against 6 Entities in Infosys insider trading case
Ø India's space-tech Startups steering a rough ride
Ø Govt to sell up to 10% Stake in Hindustan Copper via OFS
Ø Rising demand, Green plans power shares of JSW Energy
🇮🇳Business News Headlines
Economic Times
Ø ZEE Investor seeks Board recast; demands removal of MD Punit Goenka
Ø OPEC sees Delta variant weighing on oil demand before 2022 Growth
Ø Retail inflation eases further to 5.3% in August
Ø Jet Airways to resume operations in the first quarter of 2022
Ø CIL might hike coal prices by 10-11% to tide over cost push, wage revision
Ø NSE-BSE bulk deals: Hindustan Times buys stake in Dish TV India
Ø Maharashtra govt expects 5.6% increase in sugar production in 2021-22
Ø Vaccination is the medicine to boost economy: Nirmala Sitharaman
Ø Indian IT struggles to get experienced hands amid tech boom
Ø Unitholders of Franklin’s six shut debt schemes to get Rs 2,918 crore
Ø Vedanta Resources reduced net debt by $300 million in H1 of FY 22
Business Standard
Ø Banks call on Government to ease pressure on debt-laden Vodafone Idea
Ø Infosys, Microsoft ink multi-year deal with power distributor Ausgrid
Ø Budget carrier IndiGo to start 38 domestic flights in September
Ø DMart forays into Haryana, opens 94,000 sq ft store in Faridabad
Ø Sun Pharma stock expected to keep market lead as firm recovers in US
Ø Adani Transmission, Max Financials, Laurus Labs to gain from FTSE rejig
Ø India Inc sees 219 deals worth $8.4 bn in August, record volumes since 2005
Ø Textile PLI scheme: 35 companies line up Rs 10,000-crore investment
Ø Despite chip shortage, automakers expect better festive season
Ø Moody's assigns B1(hyb) rating to Axis Bank's proposed AT-I capital bonds
Ø 'Policy support, fundraise may give VIL relief but sizable hike must'
Financial Express
Ø Oil & Gas: Operating environment has got better
Ø Securitisation volumes to jump 50 pc to Rs 1.3 lakh cr in FY22: Report
Ø Snapdeal assessing IPO route: Sources
Ø India’s inclusion in global bond index to attract $170-250 bn inflows; stock markets may also benefit
Ø High shipping costs: Scheme to aid farm exporters back & fortified
Ø Ami Organics IPO subscribed 64.54 times on closing day
Ø Godrej Consumer Products expects double-digit growth in FY'22
Ø CNG price may rise 10-11% in October
Ø Financial bids for BPCL after September
Ø NTPC Darlipali Thermal Power Station's Unit 2 to start commercial operation from Sep 1
Ø PSU fund-raising drives corporate bond issuances in August
Mint
Ø BPCL formulating export strategy for petroleum products
Ø Yes Bank wants resolution on board revamp at Dish TV AGM
Ø Drop in retail inflation is a comfort but some spoilers lie ahead
Ø Volume growth, deleveraging to boost JSW Steel’s earnings
Ø Varun Beverages set to gain from robust growth outlook
Ø HUL’s vision is good but valuations may cap stock’s near-term upsides
Ø Oil India’s efforts to pare debt help boost investor sentiment
Ø Chip shortage drives tech companies and car makers closer
Ø Zomato shelves consumer e-grocery plans
Ø PNB appoints Rekha Jain as shareholder director, Asha Bhandarker steps down
Ø India's space-tech startups steering a rough ride
Ø Freshworks plans $912 mn IPO at nearly $9 bn valuation