EOD Update 16-09-2019

DLF sells 9 acre land to American Express for around Rs 300 cr
American Express will develop a large campus on this land parcel, which is located in Sector 74A, known as New Gurgugram, they added.

Piramal, Poddar may help develop DHFL’s SRA projects
Earlier, textile group Welspun was in the race to partown such projects

Governments 70,000-Crore Stimulus No “Game Changer”, Say Some Economists

On Saturday, Finance Minister Nirmala Sitharaman said the tax refund program for exporters from January 1 will cost the government Rs 50,000 crore ($7 billion) in revenue annually.

Donald Trump may share stage with PM during ‘Howdy Modi’ event in Houston
The event will be hosted by the Texas India Forum, a Houston-based non-profit organisation that promotes cooperation

SBI to move RBI to offer fixed-floating rate home-loans: Chairman Rajnish Kumar
The move comes after the Reserve Bank has mandated banks to shift all retail lending to floating rates that will be determined by external benchmarks like the repo rate.

Incentives for exports to boost shipments: Exporters
FIEO said the new measures announced for the sector in form of incentives and refund of taxes will not only go a long way in enhancing the growth prospects in the short-term.

Altico Capital: Sachin Bansal, Reliance Mutual Fund face defaults on outstanding debt
Altico has bonds worth a total Rs 1,808 crore that will mature between now and May 2022, India Ratings data showed.

Trump will attend PM’s ‘Howdy, Modi’ event in Houston: White House
This is for the first time in recent history that leaders of the two largest democracies would be addressing a joint rally anywhere.

Saudi drone strikes: No crude blow to India yet
Refiners see no threat to supply in short term, but prices may go up.

Donald Trump says US ‘locked and loaded’ to respond to Saudi oil attack
It is the first time the president has hinted at a potential American military response to the attack, which slashed Saudi oil production.

Aramco attacks show company entanglement in Saudi politics
The strikes, which US Secretary of State Mike Pompeo blamed on Iran despite staunch denials by Tehran, led to suspension of more than 5 per cent of the world’s daily crude oil production, bringing into focus just how vulnerable the company is to Saudi Arabia’s conflicts outside the country’s borders, particularly with regional rival Iran.

Former Tiger Global exec Lee Fixel stalks Indian startups again, may invest $1 bn
Fixel is looking to invest around $1 billion through his new fund, Addition, as soon as a non-compete agreement with his former employer expires, the people said, requesting anonymity. He plans to actively look at startups in India and also in South-East Asia, they said.

Sunluz Technovations’s Ram Kerur: The go-to guy for defence, space, nuclear tech indigenisation
But Chandrayaan-2, which deployed an orbiter circling the Moon, was still a remarkable achievement for a third world nation.

Unit Of Anil Ambani’s Reliance Communications Files For Bankruptcy

Anil Ambani has been waging a war on debt, and Reliance Group has said that it planned to raise about Rs 21,700 crore by selling assets from roads to radio stations in a bid to cut borrowings.

Wholesale Inflation At 1.08% In August

In the previous month, wholesale inflation – determined by the Wholesale Price Index (WPI) – had eased to a 25-month low of 1.08 per cent.Wholesale inflation is the rate of increase in wholesale.

No more underreporting of faulty vehicle data, thanks to new Motor Vehicle Act
More than 2.12 lakh two-wheelers, cars and sports utility vehicles have been recalled between January-August by more than a dozen manufacturers.

Oil Refiners Slump As Global Crude Prices Surge Nearly 20%

The S&P BSE Energy and Oil & Gas sectoral indices fell 2.55 per cent and 2.02 per cent respectively.

CLE for increase in duty free limit for leather garments to 5%
CLE Chairman Panaruna Aqeel said India is the second largest global exporter of leather garments and enhancing the duty free limit will help achieve the top position.

P-note investments continue to drop; stands at Rs 79,088cr in August-end

Rs 20,000 cr enough to see through the completion of stuck projects: Keki Mistry, HDFC
The creation of the fund as well as the clarification on ECB are very good measures.

No impact on sales due to slowdown: Amazon India
Amazon claims that around 5 lakh sellers will participate in this year’s festive sale.

5% Growth A Surprise, Analysing Why It Happened, Says RBI Governor

Mr Das said the monetary policy committee would continue to focus on growth with inflation expected to stay within the medium term target.

Allahabad Bank Board Approves Merger With Indian Bank

Finance Minister Nirmala Sitharaman had on August 30 announced the consolidation of 10 state-run banks into four large-scale lenders.

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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