EOD update 04-04-2019

Walmart’s Unlikely Allies In India As It Takes On Amazon, Mukesh Ambani

The US company is now rolling out a plan to more than double its wholesale chain in India over the next four years.

L&T gains as hydrocarbon business wins contracts in range of Rs 1,000-2,500 cr
L&T Hydrocarbon business also secured orders for equipment fabrication for a refinery in Oman.

US govt seeks Nirav Modi’s extradition upon violation of RICO Act
Modi could be charged with violations in the Racketeer Influenced and Corrupt Organisations (RICO) Act.

As per sources, the DoT has been asked to work out the proposals in a time-bound manner.

“The PMO is very clear that both BSNL and MTNL should survive and the government will do its bit to let the firms do that,” a source said.

Breaking : RBI cuts Repo Rate by 25 bps to 6%

MPC cuts reverse repo rate by 25 basis point; MPC cuts repo rate by 25 basis point; The stance of MPC is neutral.

RBI: GDP SEEN AT 6.8-7.1% IN H1; 7.3-7.4% IN H2

Reverse Repo rate adjusts to 5.75%

Indiabulls Housing Finance shares jump 4% on fund raising plans
The company plans to raise more funds in the current financial year.

Tencent raises $6 billion in huge dollar bond sale
Tencent also sold a five-year tranche of $2 billion in fixed and floating rate, $500 million in seven-year notes, and USD 500 million in 30-year notes.

SC refuses to entertain plea seeking rescheduling of Lok Sabha polling dates in Tamil Nadu, Puducherry

Arun Jaitley Says Will Seek To Enable More Rate Cuts

Speaking at an industry event, Mr Jaitley also said the government would look at reducing the goods and services tax on cement.

Top Court Ruling: RBI To Issue Fresh Circular On Resolution Of Bad Loans

The top court Tuesday quashed RBI circular of last year that pertains to the provisions for referring the defaulter to NCLT even on a one-day overdue

RBI Cuts Inflation Forecast To 2.9-3% For First Half Of Current Fiscal

In its previous policy outcome in February, the RBI had projected retail inflation between 3.2-3.4 per cent for the first half of 2019-20.

No Lay-Offs Or Cut In Retirement Age: BSNL Chief

BSNL has 1.76 lakh employees, which have been mostly from the DoT employees at the time of creation of BSNL and its wage cost is 55-60% of the revenue

YES Bank may look to raise Rs 3,000 crore from share sale
Deutsche Bank is said to be among the advisors to YES Bank on the share sale.

Aircraft Lessor Avolon Seeks To De-Register Jet Airways Planes: Report

With debt of more than $1 billion, Jet has struggled to pay lenders, suppliers, pilots and lessors for months

Fitch Retains India’s Rating At ‘BBB-‘ With Stable Outlook

Fitch had last upgraded country’ssovereign rating from ‘BB+’ to ‘BBB-‘ with a stable outlook on August 1, 2006.

RBI To Set Up Task Force On Secondary Market For Corporate Loans

The central bank said the task force would submit its report by the end of August 2019. The RBI statement has brought out an 11-point agenda of regulatory policies.

Creditors May Lose Over Rs 90,000 Crore As Videocon Sinks: Report

Videocon Telecommunication has claimed Rs 1,786.95 crore from Videocon Industries on which there is no dispute. This and other data has been uploaded by the company’s resolution professional (RP)

PMO intervenes to bail out BSNL, MTNL; asks DoT to expedite revival proposals

Bharti Airtel, Reliance Jio To Fight For Zee Entertainment Stake: Report

Bharti Airtel has already initiated the efforts and is likely to make a formal proposal soon, sources said

Magma Fincorp aims Rs 3,000cr asset growth in FY20

Jet Airways Lenders To Invite Bids For Stake Sale On April 6

The bids would be invited on April 6 and the last date for submission would be April 9, the lenders said in a statement.

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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