Today's Paper - 19/10/2019+ Print Archive

DHFL crisis: SBI, BoB, UBI to move HC seeking rights to pool repayments

On Wednesday, UBI managing director and CEO Rajkiran Rai G had told reporters the court-mandated moratorium on repayments was a temporary one and banks would soon present their arguments to the HC.

DHFL crisis, DHFL , SBI, BoB, UBI, bombay HC, industry news

FADA contradicts SIAM, says retail sales down 13% in Q2

Both FADA and SIAM source their retail sales numbers from vehicle registration data from the Vahan database maintained by the ministry of road transport and highways.

FADA, SIAM, auto sale, retail sale, Q2, passenger vehicles, industry news, automobile industry  News

Reliance Jio records net profit of Rs 990 crore during second quarter

Anshuman Thakur, strategy and planning head, Reliance Jio, said that the 6 paisa charge is purely to recover this regulatory cost and does not account for any changes in the tariff plans of the company.

Reliance Jio, Reliance Jio profit, telecom operator, subscriber, August, mobile subscriber base,  subscriber base, industry news, telecom news, Trai,Airtel , Vodafone idea News

Retail and digital — Two sectors that helped Reliance post record profit in Q2

The fall in petrochemicals segment EBIT was mainly due to weaker petrochemical product margins offset by record petrochemical production and cost-optimisation through light-feed cracking. Petrochemical segment recorded an EBIT margin of 19.7%.

Reliance Industries, RIL, RIL profit, RIL share, RIL share price, RIL market cap, reliancce industries, industry news, BSE, NSE News

McNally creditor withdraws insolvency petition after out-of-NCLT settlement

Earlier, in a big jolt to the ongoing restructuring efforts for the Williamson Magor group, the tribunal on Wednesday had ordered commencement of the insolvency resolution process for MBE on a plea of the financial creditor Trinetra Electronics for a paym

McNally creditor, insolvency petition, NCLT settlement, NCLT, industry news, Aditya Khaitan News

Reliance Retail defies consumption slowdown, reports 27% rise in revenue

The company claims its retail business has grown phenomenally, registering a seven-fold increase in revenue in the last six years and is now preparing to foray into e-commerce.

Reliance Retail, consumption slowdown, Reliance Retail revenue, industry news, Reliance Retail news, Reliance Retail limited, Reliance Retail brand, Reliance Retail ipo  News

Jet Airways effect! Vistara, Spicejet to record sharp rise in weekly departures

India's largest airline by domestic market share, IndiGo, which last winter had 9,030 weekly departures, will now have 10,310 weekly flights between October 27 and March 28. Meanwhile, there will be 2,254 weekly departures of Air India flights under the

Industry News

Reliance Jio adds 8.44 million subscribers in August

In terms of broadband subscribers, Airtel maintained the monthly run rate of past few months while additions for Vodafone Idea continue to remain muted. Airtel added 2.8 million wireless broadband users to take its base to 124.30 million.

Reliance Jio, Reliance Jio profit, telecom operator, subscriber, August, mobile subscriber base,  subscriber base, industry news, telecom news, Trai,Airtel , Vodafone idea News

Centrient Pharma files second lawsuit against Dalas Biotech

In addition, the Delhi HC also found Sinopharm Weiqida of prima facie guilty of contempt of court for illegally importing amoxicillin active ingredients in contravention of the previously granted preliminary injunction in place in India since April 2017.

Centrient Pharma, lawsuit, Dalas Biotech, industry news,  News

Strategic sale buzz: BHEL gains 27.5% in intra-day trade

Eyeing diversification, BHEL has started supplying industrial AC machines. It has also supplied electric locos to Indian Railways and other industries.

Strategic sale buzz, BHEL,  intra day trade, BHEL share, BHEL share price, Bharat Heavy Electricals, market news

MP Investor Summit: Reliance, ITC, Sun Pharma announce investment plans

“Reliance will be setting up national distribution centres in MP, with over 10 million sq ft of space across 45 locations,” he said, adding that the company will also explore investment opportunities in renewable energy.

madhya pradesh, MP Investor Summit, Reliance, ITC, Sun Pharma, investment plan, Kamal Nath government, Kamal Nath, Reliance Jio News

Quick Heal gets US patent for malware detection tech

The Behaviour-based Detection Technology has been created to combat increasingly sophisticated threats in the cybersecurity landscape, said Sanjay Katkar, JMD and CTO, Quick Heal.

Quick Heal, US patent, malware detection tech, malware, Quick Heal Technologies, Technology news

G20 FMs meet: Sitharaman calls for structural reforms to deal with global slump

Apart from the tax cut, the Modi government has undertaken structural reforms like the goods and services tax (GST) and the Insolvency and Bankruptcy Code (IBC), which it wants to tweak further for meaningful impact.

Economy News

Air Traffic growth in September disappointing: DGCA Chief

Kumar said even though the September growth is disappointing, the domestic aviation industry had largely weathered the impact of the grounding of the beleaguered Jet Airways.

Air Traffic, Air Traffic growth, DGCA Chief, Civil Aviation, industry news, Jet Airways, SpiceJet, IndiGo  News

Myths linked to nuclear energy should be busted: MoS Jitendra Singh

“I have been trying to sensitise states about nuclear energy, making them aware of its diverse benefits,” Singh said at the India Energy Forum 11th Nuclear Energy Conclave held here.

Myth, nuclear energy, MoS, Jitendra Singh, industry news, electricity generation, electricity  News

Analyst corner | Maintain ‘buy’ on PVR, target price Rs 2,100

The company’s standalone performance also remained strong with NBOC, F&B and ad revenue jumping ~25%, ~31% and ~9% YoY, respectively, propelling revenue ~24% YoY.

Analyst corner, PVR, target price, PVR price, PVR share price, market news

India needs to focus on TB cases going unreported

Globally, there were 484,000 incident cases of MDR/RR-TB, India accounted for ~50%. However, India has enhanced its registration, and saw notifications double to two million in 2018.

India, TB case,  WHO, Global TB Report, health news

CUCET is a good start, but India needs a SAT 

The higher education education needs all 598 public-funded universities, with the state coming on board, to have a common entrance test, quite like the SAT for college admissions in the US.

CUCET, India, SAT, National Testing Agency, NTA, MPhil, PhD, Delhi University, DU, Jawaharlal Nehru University, JNU, Banaras Hindu University, BHU, CBSE, CLAT , UGC  News

Seed-tech firms are looking to charge farmers on the basis of crop outcome 

Crop yield is influenced by the genetic traits of seeds, as also by factors like composition of the soil, organic matter, presence of beneficial microbes, moisture, temperature, nutrients, and crop protection measures.

Seed tech firm, farmer, crop outcome , harvest, Crop Science Division, US, Europe, Indian Agricultural Research Institute  News

Analyst corner | Maintain ‘neutral’ on TVS Motor, target price Rs 434

EBITDA margin improved 20bp YoY (+80bp Q-o-Q) to 8.8% (our estimate: 7.8%). Low tax boosted adj. PAT to ~ Rs 1.8 billion (our estimate: ~ Rs 1.5 billion), a decline of ~15% Y-o-Y. For 1HFY20, revenue/EBITDA/PAT were down ~4%/2%/6% YoY.

Analyst corner, TVS Motor, target price, TVS Motor share, TVS Motor company, TVS Motor result  News

Axis AMC CEO says wealth creation will happen from quality growth business

The biggest arbitrage available in the market is for people who think long term. I am very clear that wealth creation over the five-year period will happen from quality growth business.

Axis AMC, CEO, wealth creation, quality growth business, growth business, Asset Management Company, slowing economy News

ICICI Lombard General Insurance net profit rises 5% in Q2

ICICI Lombard largely stayed away from new crop business due to the hardening of reinsurance rates and that can be one of the reason for dip in GDPI.

ICICI, Lombard General Insurance, net profit, ICICI Q2, General Insurance, industry news

Reliance Capital blames older downgrade for fresh default

In its rating rationale for the downgrade, CARE Ratings had said the rating revision took into account an instance of delay in servicing of coupon on several non-convertible debentures by the company.

Reliance Capital, downgrade, fresh default, industry news, RCL  News

Explained: India’s economic slowdown and growth projections

Various indicators show that the economic slowdown is deeper than expected, and a sustained recovery may take several more quarters unless demand revives.

India, economic slowdown, growth projection, International Monetary Fund, IMF, GDP, World Bank News

India’s forex reserves at record high of $439.71 billion

Movement in the FCA occurs mainly on account of purchase or sale of foreign exchange by the RBI, income arising out of the deployment of foreign exchange reserves, external aid receipts of the government and revaluation of assets.

foreign travel, foreign currency, Indian rupee, INR, Forex rate, how to make payemnts in foreign countries, currency conversion, money changers, currency conversion rate, Wall Street Forex, WSFx, WSFx Smart Currency Card, VISA, Yes Bank News

ITC to develop value chain for chilli growers in Andhra Pradesh

Andhra Pradesh is one of the top producers of chilli in the country of about 9,92,900 tonne and there is a big opportunity to make it a global sourcing centre for the finest safe chillies.

ITC, value chain, chilli grower, Andhra Pradesh, ITC,  Krishna, Guntur, Prakasam, Kurnool, district, Chilli cultivation News

India’s cotton season begins on a bearish note

Prices of raw cotton or kapas are currently ruling between Rs 4,700 and Rs 5,250 per quintal, depending on the quality and the moisture content

India, cotton,cotton season, market NEWS, commodity news, cotton advisory, cotton farmer News

ACC Rating | Buy — A stellar performance by the company

Calibrating 9mCY19 performance and the estimated recovery, we see limited risk to our CY19e and CY20e earnings. We also introduce CY21e earnings with modest 4% y-o-y Ebitda growth, implying flat Ebitda/t.

ACC, ACC cement, Rating, performance, company news, market news

Avenue Supermarts Rating | Hold — A largely steady showing in the quarter

DMART continues to execute strongly in discount grocery retailing with cost leadership helped by strong efficiencies. We continue to expect a higher new store opening trajectory ahead and margins to remain range-bound with upward bias at 8.5-9% levels aft

DMART, Avenue Supermarts, Rating, market news, Balance sheet, subsidiary, Target Price News

Chhattisgarh’s anti-EVM plan for local govt polls hurts democracy 

As per various news reports, in June 2017, the ECI arranged for an EVM-hack challenge where political parties were asked to demonstrate how the machines can be tampered with.

Chhattisgarh, anti EVM plan, local govt poll, democracy , EVM,  local body elections News

INX media case: P Chidambaram among 14 charge-sheeted by CBI

The CBI chargesheet filed before Special Judge Lal Singh names Peter Mukherjea, chartered accountant S Bhaskaraman, ex-NITI Ayog CEO Sindhushree Khullar and former secretary in the MSME Ministry Anup K Pujari. Accused-turned approver Indrani Mukerjea’s

INX media, INX media case, P Chidambaram, charge sheet, CBI, India news, Delhi High Court, money laundering News

FATF warns Pakistan: Curb terror funding by February or face blacklist

The compliance requirement is quite strict — it asks for “significant and sustainable progress”, “across the range”. “It is clear that the FATF will take action if progress cannot be established,” the source said. Sources also said that ther

FATF, Pakistan, terror funding, face blacklist, Defence news, Financial Action Task Force, Grey List, Dark Grey List, FATF list News
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