EOD UPDATE 23-08-2019


Fuel Supply To Air India Stopped At 6 Airports Over Non-Payment Of Dues

The oil marketing companies, led by Indian Oil, have stopped jet fuel supply at the Ranchi, Mohali, Patna, Vizag, Pune and Cochin airports.

Fidelity sells 1.9 crore shares of LIC Housing

PM Modi to launch $4.2 million redevelopment project of Hindu temple in Bahrain

Reliance seeks LNG cargo for October delivery: Sources
The refiner is seeking the cargo on a delivered ex-ship (DES) basis for delivery over October 5 to 14 into Hazira, one of the sources said.

Changes in a/c policy, related party norms helped lift RIL’s EPS
RIL computes depreciation for the telecom on ‘expected pattern of consumption’.

PM Modi to launch $4.2 million redevelopment project of Hindu temple in Bahrain
In the first-ever Prime Ministerial visit by India, Modi, who arrives here on Saturday as part of his state visit, will launch the redevelopment of the Shreenathji (Shree Krishna) temple in Manama at a special ceremony.

PM Modi holds marathon talks with French President Macron
Ahead of the meeting, Modi said the talks will add to the ground covered during previous interactions with the French leadership.

Fidelity Investment sells LIC Housing Finance shares worth Rs 820 crore
According to data available with the BSE, Fidelity Investment Trust through Fidelity Mid-Cap Stock Fund, Fidelity Overseas Fund, Fidelity.

Brazil president says France’s Macron has ‘colonialist mentality’ over Amazon fires
Brazilian President Jair Bolsonaro blasted his French counterpart Emmanuel Macron Thursday as having a “colonialist mentality” for rallying G-7 countries to address wildfires raging in the Amazon rainforest.

Google says YouTube campaign targeted Hong Kong protests
The action by the Google-owned service came this week as Twitter and Facebook accused the Chinese government of backing a social media campaign to discredit Hong Kong’s pro-democracy movement and sow political discord in the city.

Unprecedented Situation For Government In 70 Years: Rajiv Kumar

The comments from the top economist come at a time the country’s economy is facing the worst pace of growth in nearly five years.

Pakistan bringing over 100 terrorists from Afghanistan for Kashmir: Sources

DHFL’s lenders set to declare 65% debt as unsustainable.

“Investor Confidence At A Historic High”: NR Narayana Murthy

The comments from Infosys co-founder NR Narayana Murthy come at a time when the economy is facing its worst slowdown in nearly five years.

Government Bailouts A Moral Hazard, Says Chief Economic Adviser

“I think we expect the government to use taxpayers money to intervene every time there is a sunset phase,” Mr Subramanian said.

SC to examine if Triple Talaq law is ‘unconstitutional’, issues notice to Centre

Finance Minister Seeks Fair Trade Whip On Global Firms Abusing Dominance

“CCI (Competition Commission of India) should take suo moto cognisance of global companies having no presence in India but abusing Indian consumers,” Ms Sitharaman said on Friday.

CCI needs to ensure Indian cos are not subject to abuse from overseas entities: Nirmala Sitharaman

Air India Owes Rs 4,500 Crore To Fuel Retailers, Say Officials

IOC, BPCL and HPCL more than a week back jointly wrote to Air India seeking expeditious clearance of the dues, failing which they will be constrained to take action.

Government May Exempt Foreign Investors From Super-Rich Tax: Report

Finance Minister Nirmala Sitharaman had proposed increasing the effective tax rate on individuals with taxable annual income of above Rs 2 crore($283,000) by about 3 per cent.

Amazon to buy 49% in Future Retail promoter entity, stock dives 5.6%
Future Retail operates popular retail chain of Big Bazaar.

Amazon To Buy 49% In Kishore Biyani’s Future Coupons, Values Future Retail At $5.8 Billion
Amazon’s stake purchase in Future Coupons gives the Jeff Bezos-led firm an indirect stake in Kishore Biyani’s Future Retail.

Sri Lanka ends emergency four months after Easter attacks
President Maithripala Sirisena has been extending the emergency on the 22nd of each month since the April 21 attacks on three hotels and three churches.

SC grants interim protection to Chidambaram in ED case; no relief in CBI matter

IMF questions India’s tax revenue estimates
Growth projections for India have been cut due to the pervasive economic slowdown across segments (consumer durables, auto, and biscuits) and officials are not confident of achieving the target.

Shapoorji Pallonji Group Plans Asset Sales to Cut Rs 4,000 Crore Debt

The 154-year-old group, controlled by billionaire Pallonji Mistry and his family, expects the deals to be clinched by March next year, a source said.

India Inc Grows Impatient As Economy Dips And PM Modi Is Distracted

India’s GDP growth in January-March slid to a near five-year low of 5.8% and most analysts expect data due later this month to show that growth in April-June faltered even further.

Nirmala Sitharaman To Hold Press Briefing Amid Stimulus Expectations

Several businessmen say the Prime Minister Narendra Modi-led government needs to take swift action on the economy, as the economic growth in January-March slid to a near five-year low of 5.8 per cent.

Government Has Been Taking Bold Steps To Accelerate Economy: Rajiv Kumar

The government will continue to take bold steps to accelerate the economy, NITI Aayog Vice Chairman Rajiv Kumar said on Friday.

India’s Growth Much Higher Than Global Growth: Nirmala Sitharaman

“Global GDP growth is projected at 3.2 per cent and is probably going to be revised downwards,” Ms Sitharaman said.

Moody’s Lowers India’s 2019 GDP Growth Forecast To 6.2%

The Moody’s Investor Service report also cut India’s gross domestic product (GDP) growth rate for 2020 by a similar 0.6 percentage points to 6.7 per cent.

Government Departments To Replace Old Vehicles To Boost Auto Sector

The Finance Minister said the government will lift the ban on its bodies from replacing the old vehicles.

Government Scraps Higher Surcharge On Foreign Investors

Finance Ministry also decided to withdraw enhanced surcharge on short and long term capital gains arising from transfer of equity shares.

Withdrawal Of Surcharge On Foreign Investors A Big Positive: Experts

The government announced measures to revive economic growth and markets including withdrawal of higher taxes for foreign portfolio investors.

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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