EOD UPDATE 01-07-2019

Time to implement GST 2.0: India Inc
Batting for a single registration process pan-India, CII said building on the milestones of the past two years, it is time to implement GST 2.0.

Fund transfer via RTGS, NEFT set to get cheaper from July 1
The country’s largest bank SBI charges between Re 1 and Rs 5 for transactions through NEFT and between Rs 5 and Rs 50 for RTGS route.

Oil jumps on Saudi, Russia support for supply cuts
Oil prices have come under renewed pressure in recent months from rising US supplies and a slowing global economy.

DHFL lenders set to meet today
The consortium of 30 lenders may also consider conversion of debt into equity.

US Democrats skeptical on Donald Trump-Kim Jong Un meeting in Korea
Senator Bernie Sanders, a leading candidate in the race to face off against Trump in 2020, said he had.

India had driest June in five years, fears for crops.

Smaller para banks get trust vote from global investors
Since the peak of capital crisis, about a dozen such entities raised $835 million.

Donald Trump says many Koreans were in tears as he stepped into North Korea.

Jet shares bounce as Tatas show interest in its assets
Tatas already run Vistara in Indian skies in collaboration with Singapore Airlines.

Pakistan receives $500 million from Qatar as first part of promised $3 billion

SAT imposes Rs 50,000 penalty on Sebi for lapses in probe
Legal experts said SAT has been proactive in providing relief to aggrieved parties of late.

IL&FS board shortlists firms to recast its books
The recast is expected to be completed in three months once the matter is conformed.

Kalpataru Power rises 2% on orders win worth Rs 975 crore
Company’s international subsidiary has secured new T&D projects in Europe.

Reliance Home Finance falls 7% on extending maturity of NCDs of Rs 400cr

Non-Subsidised LPG Prices Reduced By Over Rs 100 Per Cylinder From Today

LPG price: Currently, the government subsidises 12 cylinders of 14.2 kilograms each per household in a year.

R-ADAG shares down as Anil Ambani plans to sell or lease out Mumbai HQ
Anil Ambani is in talks with global pvt equity firms to sell or lease his headquarters in Mumbai.

Mamata Banerjee meme case: SC issues notice to West Bengal govt on delay in release of BJP activist

Industry Body For GST Rationalisation, Simplified Registration Process

According to the industry body, further rationalisation of taxes and simplification of registration process among others will usher in GST 2.0.

Iran says Opec unity necessary for cooperation with non-Opec producers
It is meaningless to plan cooperation between OPEC and non-OPEC countries without unity.

GST May Become Two-Tier Tax As Revenues Increase: Arun Jaitley

GST, which subsumed 17 local taxes, was rolled out on July 1, 2017. The GST currently has four slabs — 5, 12, 18 and 28 per cent

Godrej Properties hits all-time high as co raises Rs 2,100 crore
Shares of Godrej Properties traded 5.31 per cent up at Rs 1,056.60 on BSE.

Jet Airways jumps 5% as Hinduja-Etihad consortium joins race to buy airline
The Tata Group is currently exploring the possibility of a potential bid but hasn’t taken a final call yet

India’s 2019/20 sugar output seen down 14.5% YoY.
India, the world’s biggest consumer of sugar, is sitting on massive mounds of the sweetener, as mills struggle to export due to unattractive global prices.

Government Considers More Powers For RBI To Regulate Shadow Banks

The outlook on the shadow banking sector has been bleak ever since the state-run IL&FS defaulted on a series of debt obligation

Bank of Baroda buys Rs 3,000 crore DHFL loans
Transaction will help BoB pare its loan exposure to the non-bank lender. Since the acquired loans are higher rated assets, the quality of the state-run bank’s loanbook will improve

PFC raises $300 million loan from overseas
The loan has been jointly approved by State Bank of India, Hong Kong and MUFG Bank Ltd, Singapore.

Jet Fuel Prices Reduced By Nearly 6%

State-owned fuel retailers revise rates of ATF on 1st of every month based on average international oil rate and rupee-US dollar exchange rate in the preceding month

GST Collections At Rs 99,939 Crore In June

While the GST collections in June were lower than Rs 1,00,289 crore in May, they were higher than Rs 95,610 crore receipts in the same month of 2018

CCI imposes Rs 11,939 lakh fine on pharma firms in last 3 years: Nirmala Sitharaman

535 cases of fake invoices involving ITC claims of Rs 2,565 crore detected in current fiscal: Nirmala Sitharaman
Sitharaman said the government has taken various measures to prevent GST evasion.

2,313 frauds reported in Mudra loan accounts
Since the beginning of the scheme, over 19 crore loans have been extended under PMMY as on June 21, 2019.

Mumbai Airport Investor Allowed To Exit In Blow To GVK Power

GVK had offered in March to buy a 10 per cent stake held by a unit of Airports Co. South Africa.

Eight Core Sectors Grow By 5.1% In May

Steel and electricity output increased by 19.9 per cent and 7.2 per cent, respectively, during the month under review

Airtel completes merger of Tata Teleservices’ consumer mobile business

Need To Improve Capital Markets Further: Viral Acharya

The outgoing RBI Deputy Governor said there are also efforts to boost developing complementary markets

Tata Motors total sales down 14% at 49,073 units in June
The company had sold a total of 56,773 units in the same month last year.

Sebi slaps Rs 55 lakh fine on 6 entities for non-genuine trades
Investigation revealed that these six entities violated PFUTP regulations.

Anil Ambani’s Reliance Group To Lease Out Headquarters To Cut Debt

Reliance will continue to own the premises and proceeds from the leasing deal will go only for debt reduction, the company said

Benefits of new blockchain tech for curbing pesky calls to be visible in a month: TRAI Chief

Major Subsidies Outgo In April-May At 39% Of Budget Estimate

According to the Controller General of Accounts figures, food subsidy has touched Rs 77,388.07 crore as on May 2019, which is 42 per cent of the BE

JK Paper to invest Rs 1,500 crore to expand capacity in Gujarat
The company has signed a memorandum of understanding with the state government.

Royal Enfield sales down 22% to 58,339 units in June

Sterling Biotech bank fraud case: ED summons actor Dino Morea and DJ Aqeel

Cox & Kings defaults on another CP; faces rating downgrades

Vikesh Kumaar Kataria

Experienced Founder of Brokers Bazaar with a demonstrated history of working in Skilled in RMS from various big corporate giants, Analytical Skills, Banking, Entrepreneurship, Digitalisation and Equities with Strong entrepreneurship professionalism. Experienced Co-Founder with a demonstrated history of working in the logistics and supply chain industry.

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