EOD UPDATE 21-06-2019

Indian pharma aims to corner 7% of global market by 2030: Report

Moody’s downgrades Tata Motors with negative outlook on JLR worries

62% Indian Professionals Scared Of Fast Changing Skills: Survey

The study is based on survey of over 4,000 employees and 844 learning and development professionals across Australia, India, Japan, and Singapore

AU Small Finance Bank to raise up to Rs 500cr via bonds

DoT alone will not take call on Huawei: Telecom Secy Aruna Sundararajan

S&P 500 Hits Record High As Federal Reserve Signals Rate Cuts

The benchmark S&P 500 index, which has risen 7% so far in June and is on track to recoup its previous month’s losses, hit an intraday record high of 2,956.20 on Thursday

Sebi bars trading members from pledging certain securities of clients

Fitch Affirms Bharti Airtel at BBB- with stable outlook

IL&FS Securities faces Rs 380 cr hit on Allied dodgy deal

Reliance Industries plans to take Jio public in 2020

SEBI tightens rules for usage of client funds by brokerages
In 2018, Sebi took action against atleast a dozen brokers for misappropriating client funds and securities.

Sundaram Finance to acquire partner BNP’s stake in JVs for Rs 1,000 cr
The sum of total acquisitions is around Rs 1,000 crore.

RIL to raise $1.85b in overseas loans
Nearly three dozen banks, predominantly Asian lenders, are syndicating the credit.

SEBI nudges AIFs to make more disclosures for better transparency
The net cumulative fund raised by AIFs in past six years till March 2019 is Rs 1.3 lakh crore.

Walmart to pay over $282 mn for violating anti-corruption regulations in 4 countries

Walmart agreed to pay more than $144 million to settle the SEC’s charges and approximately $138 million to resolve parallel criminal charges by the Department of Justice,

SREI Equipment gets $30 million from Netherland bank
SREI Equipment Finance said it has received credit approval worth USD 30 million from FMO, a Netherlands-based development finance bank.

Government Likely To Let Budget Deficit Rise As Tax Receipts Fall Short

Slipping fiscal discipline would hurt the “credibility” of the budget and in turn hit investment, the bond market and the rupee, analysts say.

United States Has No Plans To Cap H-1B Work Visas: State Department

There is no country-specific limit on the 85,000 H-1B work visas the United States issues every year, and an estimated 70 per centof them go to Indians.

Slack stock surges at debut, values company at more than $23 billion
Slack’s direct listing differs from a traditional IPO because it does not raise fresh funds.

SC further restrains Puducherry govt from implementing cabinet decisions with financial implications

India becomes investment darling for sovereign wealth and pension funds
Wealth and state pension funds are expanding their horizons to private markets.

Nirmala Sitharaman Holds Pre-Budget Meeting With State Finance Ministers

Nirmala Sitharaman had earlier reviewed the state of the economy and discussed various budget-related suggestions and proposals at a meeting with financial sector regulators.

Government To Reduce Bank Lending Rate For Exporters: Piyush Goyal

Piyush Goyal said the government is working with the RBI as well as private banks to reduce lending rates for exporters.

FTAs are against Make in India, need to approach EU pact with caution: SIAM
Automobile industry body Society of Indian Automobile Manufacturers (SIAM) said

India’s exported $6.3 bn worth of goods in 2018 under export incentive of US
The US has rolled back incentives under its Generalised System of Preferences (GSP) programme from June 5.

Opinion: Expect Industry Status For Real Estate Sector

The Indian real estate sector is the most highly taxed with the combination of high direct and indirect taxes, stamp duties and levies for development approvals.

Steel Ministry Seeks Higher Duties To Deter Chinese Imports

The steel ministry has proposed the higher duties as part of its recommendations to the finance ministry for the upcoming 2019-20 budget that is due out on July 5.

An Investment Plan That Lowers Market Risk And Doesn’t Pinch Your Pocket

An SIP allows investor to contribute regularly to the selected mutual fund scheme based on one’s financial goal, time horizon and risk profile.

GST Council Extends Return Filing Date, No Relief For Auto, Realty Sector

Easing the enrolment process for new firms, the Council decided to allow the use of 12-digit Aadhaar number for getting GST registration.

Sebi asks clearing corps, bourses to deposit penalty levied on margin money shortfall in Core SGF

RCap reduces outstanding commercial papers to Rs 75 crore

India Becomes Investment Darling For Sovereign Wealth, Pension Funds

Prime Minister Narendra Modi’s election win last month consolidated his party’s power base and is expected to stimulate further foreign investment.

IRDAI cancels licence of SB Insurance Brokers

GST Council Focus Now On Easing Compliance, Curbing Tax Evasion

The GST Council on Friday decided to introduce electronic invoicing system in a phase-wise manner for business-to-business or B2B transactions.

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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