EOD update 22-04-2019


22nd April 2019

Economic Times

Ø Higher import duty sought on China leather, footwear
Ø Adani Group bags several projects across sectors
Ø HPCL continues not to recognise ONGC as promoter
Ø TCS modernises 1.5 lakh post offices with India Post
Ø Jan Dhan deposits inching towards Rs 1 lakh cr mark
Ø Kazak seeks BSE help for startups, international exchange
Ø NCLT rejects ArcelorMittal’s plea for EPC re-vote

Business Standard

Ø No takers for Pawan Hans; govt’s divestment plan fails for second time
Ø Insurance firms hike rates after GIC Re changes policy on fire risk pricing
Ø Jet crisis: From SBI to IOB, PSBs to be hit hardest if there’s no buyer
Ø Steel industry to keep utilisation levels high in lean monsoon period
Ø Bahrain’s Gulf International Bank establishes Saudi arm with $2 bn capital

Business Line

Ø Air India Express mulls leasing some Jet Airways’ Boeing 737s
Ø Centre extends deadline for GST sales return for March until April 23
Ø L&T MBDA seeks approval for SEZ unit to assemble missile sub-systems
Ø Jet’s gross debt likely to add up to₹11,261 cr
Ø 205 railway projects report cost overrun of Rs 2.21 lakh cr
Ø Adani Enterprises arm acquires Alpha Design Technologies

Mint

Ø FinMin set to issue policy norms for fintech sector
Ø Tatas may be waiting in the wings to buy Jet Airways
Ø Reliance Jio’s falling Arpu may be good news for sector
Ø Saudi Aramco to buy Shell’s stake in Saudi refining JV for $631 million
Ø Asset valuation is biggest concern for institutional investors in 2019: Report
Ø Canada’s Brookfield looks to acquire Mytrah Energy

Financial Express

Ø Rise of omnichannel strategy to slow down growth of online retailers
Ø Infosys, Cognizant ramp up security in the wake of Wipro data breach
Ø RBI says no direction issued for 5-day working in commercial banks
Ø Once A-rated at S&P, struggling Oman economy risks further cut in ratings
Ø Finance Ministry asks CPSEs to prepare list of non-core assets, initiate talks with potential investors

Deccan Chronicle

Ø Hyundai mulls options for sourcing EV components in India
Ø Basmati rice exporter GRM to enter domestic market; to invest Rs 50 crore
Ø IndiaMart expects 29 pc CAGR revenue growth in next 2 yrs
Ø Job creation trebles in Feb at 8.61 lakh, according to EPFO payroll data
Ø India is not a tariff king, has right to protect specific sectors under WTO: Experts
Ø Not involved in any cash payment arrangement to Venezuela’s PDVSA for oil: RIL

Jetairways: Nasim Zaidi Resigns As Non-Executive, Non-Independent Director

SpiceJet Signs Code Share Agreement With Emirates

The reciprocal partnership will allow opening of new routes and destinations for passengers of the two airlines, SpiceJet said.

Govt mulling changes in IBC to allow mediation to cut costs, time: Report

Nasim Zaidi Quits Jet Airways Board

Jet Airways is under the management control of a State Bank of India-led consortium of lenders following a debt-restructuring plan approved by its board last month.

VVIP chopper case: Delhi court extends till May 3 judicial custody of defence agen

India 10-Year Govt Bond Yield Opens At 7.46% vs 7.42% On Thursday Benchmark Bond Price Falls To Lowest Level Since Feb 28

Reliance Capital falls on Brickwork, CARE rating downgrade
Up to Thursday’s close, the stock declined 34.02 per cent so far this year.

Management rejig likely at Ola, Foodpanda: Report
Several executives had left the company after Ola acquired Foodpanda in 2017.

Spicejet, Emirates Sign MoU For Codeshare Partnership

Investors Demand Write-Offs As Jet Owes Over Rs 11,000 Crore: Report

Last week, Jet Airways announced temporary suspension of all its flight services as it failed to secure interim funding

Goa Carbon Standalone March 2019 Net Sales at Rs 129.29 crore, down 19.55% Y-o-Y

India Hopes US Will Allow Allies To Buy Some Iranian Oil: Report

The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions.

Banks Can Lend To Pay Jet Airways Employees Salaries: Banks’ Union

National Aviators Guild (NAG), which is the pilots’ union of Jet Airways, has said that a sum of Rs 175 crore is needed to pay employee salaries.

Delhi court sends to District Judge complaint against Rahul Gandhi for remarks against PM Modi

Volkswagen Moves Supreme Court Against NGT’s Rs 5800 Cr Fine

Mahindra Life Standalone March 2019 Net Sales at Rs 160.07 crore, up 10.17% Y-o-Y

MTNL remains relevant for telecom, its sustainability important for customers, market: CMD
The comment assumes significance as loss-making telecom PSUs MTNL and BSNL are saddled with massive debt

QGO Finance Lim Standalone March 2019 Net Sales at Rs 0.72 crore, up 632.96% Y-o-Y

Blackstone buys Essel Propack for up to $460 million, to launch open offer at Rs 139/share
Essel Group is in the process to sell various assets, including road and solar portfolios.

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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