EOD update 11-06-2019

Govt dismisses 12 senior I-T officers for corruption, misconduct

Larsen & Toubro vs Nalanda Cap stand-off reaches Sebi’s doors
Prasad believes L&T is undervaluing Mindtree and investors should hold out for a better deal.

Corporate banks look good with peaking of NPL cycle: Mahesh Nandurkar, CLSA
“Expect 9-10% returns in next 12 months. If you get the themes right, better than 10% is possible.”

Sebi looks to reward company insiders who turn whistleblowers
The regulator said it will provide adequate safeguards against victimisation of the informant.

Impairments and write-off are one-time issues, says Rel Power
“Reliance Power will resolve its financial issues and will not be a burden to Reliance Group.”

BoB shuts all Mumbai zone regional offices to go for a vertical structure
Move likely to bring in more synergies among businesses at larger centres.

DHFL Shares Fall Over 3%

A plunge in Dewan Housing Finance (DHFL) shares in the past few sessions had refuelled concerns about the financial health of the country’s non-banking financial company (NBFC) sector.

Donald Trump threatens to slap tariffs on another $300 billion worth of Chinese goods.

Suzlon may default on Rs 1.2k-cr FCCBs due July
India Business News: Reeba Zachariah & Boby Kurian | TNN Mumbai: Suzlon, India’s largest renewable energy solutions provider, is staring at a default of Rs 1,205 crore on .

Anil Ambani says group will repay all debt, delayed court awards hurting
Ambani said debt servicing payments were made through monetisation of assets.

GST | From January 2020, all taxpayers shall be filing FORM GST RET-01 as FORM GSTR-3B shall be completely phased out

GST | For Oct & Nov, large taxpayers will keep filing FORM GSTR-3B on monthly basis and for December, will file FORM GST RET-01 by Jan 20, 2020

GST | Compulsory Qtrly FORM GST ANX-1 by small taxpayers due only in Jan 2020 for Oct-Dec

Anil Ambani Says Reliance Group Will Make Timely Debt Service Payments

Anil Ambani said in the last 14 months, the group has already paid Rs 35,000 crore ($5.04 billion) towards its debt.

Nirmala Sitharaman To Meet Agriculture Ministry Officials On Tuesday

Under the scheme, interest subvention is provided to NABARD, regional rural banks, cooperative banks, public sector banks and scheduled private sector banks for providing short-term credit to farmers.

Delayed Monsoon May Spell Trouble For Farm Sector

Paddy, the primary crop of the kharif season, is likely to be hit as June as well as July are expected to be rain-deficit

Bharat Dynamics gains 6% on signing contract worth Rs 1187 crore
The share price declined 24 percent in last 1 year.

Govt appoints economic adviser as part-time member to Insolvency Board.

Also, IIM Bengaluru professor, V Ravi Anshuman appointed part-time member to SEBI.

Bharat Dynamics to execute defence contract to supply heavyweight torpedoes in 42 months

Moody’s Places Yes Bank Under Review For Downgrade

Shares of Yes Bank pared gains sharply in afternoon trade, and were up 2.7 per cent, as of 09:47 GMT or 3:17 pm IST.

Warehouse leasing crosses 25 million sq ft mark; grows by over 45 percent in 2018
E-commerce sector accounts for around 23% of overall warehousing space take up in 2018

Government Withdraws Export Incentive For Onion As Prices Jump

India exports onions mainly to Bangladesh, Malaysia, the United Arab Emirates and Sri Lanka.

How Income Tax Liability Is Set To Change From Assessment Year 2020-21

Income tax rules (interim Budget 2019): Careful planning of investments as perincome tax lawscan lead to a significant reduction in the assessees’ overall tax outgo, say financial advisors.

European Union Blocks Thyssenkrupp-Tata Steel Merger Plan

The aim of the merger had been to create the second largest European steel company behind multinational giant ArcelorMittal

Government Not To Seek Funds For State-Run Bank Recapitalisation: Report

In 2018-19, the government had pumped in the highest-ever infusion of Rs 1.6 lakh crore into PSBs to meet regulatory and growth capital requirements.

Gems & jewellery exports fall 13% to $3.2 billion in May

Government Seeks Ban On Deloitte, KPMG Arm For Alleged Auditing Lapses

The government is seeking to ban Deloitte Haskins Sells and KPMG affiliate BSR & Associates for five years

DDA receives 50,000 applications for Housing Scheme 2019

Dewan Housing Finance Clears Interest On Non-Convertible Debentures

The company also said on Tuesday it will seek rating upgrades from agencies now that it had cleared all its dues on NCDs.

DHFL makes Rs 962 cr payment towards NCD

Government May Reduce Oil Cess To Boost Production: Report

The Finance Ministry had revised the oil cess in the Union Budget 2016-17, shifting it from the specific charge of Rs 4,500 per tonne of crude to an ad valorem rate of 20 per cent.

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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