EOD Update 04-06-2019

RCom Gets Claims Worth Rs 49,193 Crore From Lenders
Lenders claim Rs 49,193 crore from RCom

RBI bars SR Batliboi & Co from conducting commercial bank audits for 1 year

Telecom spectrum auction to be held this year, says Ravi Shankar Prasad.

Fitch downgrades ICICI Bank and Axis Bank’s issuer default rating.

Industry Body Seeks Tax Rate Cut In Budget As Growth Slows

In 2015, the government had promised to cut corporate tax rates and roll back tax exemptions over a period of four years, but only small companies obtained tax relief.

Skymet Predicts Late Monsoon In Southern, Central States

According to Skymet, farmers in South and Central India should postpone the sowing of kharif crops to at least the second week of June

RBI modifies large exposures framework for bank
The modified ‘Large Exposures Framework’ (LEF) provides exclusion of entities connected with the sovereign from definition of group of connected counter-parties.

GIFT International Financial Services Centre
GIFT IFSC will be a deemed foreign territory dealing in foreign currency.

SEBI sends notice to HDFC Mutual Fund, officials for extending FMP
Essel debt exposure had impacted the scheme, which the fund house sought to contain by giving the option for a rollover

From 13,000-Word Policy Statements, RBI Has Become a Lot Clearer: Report

Long and complicated communication on the economy make it difficult for investors to understand the regulator’s position.

Airtel Africa to raise $750 mn via IPO, eyes London listing

Worlds biggest firms foresee $1 trillion climate cost hit

Govt likely to infuse Rs 40,000 crore in PSBs in FY20: Report

GE Power soars 3% on Rs 738 crore order win

SC issues notice to Puducherry CM V Narayanasamy in power tussle matter
The Madras High Court had recently held that Lieutenant Governor Kiran Bedi

MSME Ministry to work towards promoting economic growth, create jobs: Nitin Gadkari

SEBI sends fresh show-cause notices to HDFC MF, Kotak MF
Earlier in May, SEBI issued similar show-cause notices to both HDFC AMC and Kotak AMC.

SoftBank Group to book 1.2 trillion yen profit on sale of Alibaba shares
SoftBank sold part of its Alibaba stake to raise funds for British chip designer ARM.

International Finance Corporation sees immense opportunities for green bond projects in India
IFC, a World Bank member, will provide a $100 million anchor investment in the fund, with $75 million from HSBC.

1,862 start-ups registered with GeM portal received orders worth Rs 275 crore: DPIIT secy Ramesh Abhishek

NBCC eyes 33% revenue growth in FY’20 at Rs 9,500 crore
The MoU was signed by Housing and Urban Affairs Secretary Durga Shanker Mishra and NBCC’s CMD Shiv Das Meena.

Rs 8,000 cr NTPC-SJVN merger push likely in Modi govt’s 1st 100 days
The state government holds 26.85 per cent stake in SJVN while the Centre holds 63.79 per cent.

Manipal Group to up stake in Cigna TTK to 51%, TTK to exit biz
Along with the name change, the company has adopted a new corporate identity, including a new logo and website.

Penna Cement Industries gets Sebi nod for Rs 1,550-cr IPO
IPO comprises fresh issue of up to Rs 1,300 crore and an offer for sale of up to Rs 250 crore

Walmart Faces Major Test Over Flipkart’s Legal Spat With Start-Up GOQii

GOQii sued Flipkart last month in a Mumbai court, alleging its devices were discounted by around 70 per cent to the retail price.

IL&FS Crisis: Supreme Court Allows Reopening Of Books Of Accounts

The move by the top court comes as a setback for Hari Sankaran, who had challenged an order by the NCLAT to reopen the past books of IL&FS

Natural gas not to drive ONGC’s profitability in near term: Moody’s
India’s energy strategy aims to reduce its hydrocarbon imports by 10 per cent by 2020.

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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