EOD UPDATE 29-08-2019

Kashmir internal issue for India, Imran Khan’s rhetoric ridiculous: US lawmaker
Asserting that Kashmir is an internal issue for India, Indian-American lawmaker Ro Khanna who recently joined the Pakistani Congressional Caucus has said that Pakistan Prime Minister Imran Khan needs to cool his heated rhetoric.

Home Minister Amit Shah on Gujarat visit today
Since it is Shah’s first visit to his homestate after abrogation of the special status of Jammu and Kashmir, he would be accorded a grand welcome by BJP workers and leaders after he lands at the Ahmedabad airport on Wednesday night, said a party release.

Congress never cared about development, security, housing for poor: Yogi Adityanath
Hitting out at the Congress, Uttar Pradesh Chief Minister Yogi Adityanath said issues of development, security and housing for the poor.

Govt to launch campaign against single-use plastic
Sharing the details with the Union Cabinet in the council of ministers’ meeting, Secretary Drinking Water and Sanitation Parameswaran Iyer informed that the campaign will be held in three phases.

Rajasthan CM Ashok Gehlot meets Japanese biz delegation, invites fresh investment in state
The delegation also had representatives from companies located in Japanese Zone at Neemrana in Rajasthan and the Japan External Trade .

Go around, see things for yourself to present picture of India: Pranab Mukherjee to foreign media.

Board Meetings Today: Aurobindo Pharma, REC, City Union Bank, Granules India and MBL Infra
It makes sense to have a look at the corporate agendas for the days as announced to the stock exchanges.

“India’s A Big Market”: Coming Soon, Tiffany Stores In Delhi, Mumbai

Tiffany will start with two stores — one in New Delhi and another in Mumbai — that will carry the same assortment of silver and gold bracelets, necklaces and rings available in other markets, along.

PM Modi to launch ‘Fit India Movement’ today: Where to watch it live
Fit India movement aims to encourage people to inculcate physical activity and sports in their everyday lives.

SEBI asks MF trustees to stand up for investors’ interests
Market regulator does not want them to be ‘passive participants’

PM Modi’s water guarantee plan: 55 litres/day for each Indian citizen.

Google To Shut Down Online Job Service ‘Hire’.

“Hire” came into existence after Google acquired Bebop — a company started by Greene — for a reported $380 million in 2015.

Yamuna river poisoned by excessive fertiliser use: Pollution board
Metals such as copper, lead and manganese were found in the river, while groundwater contained high levels of iron and manganese. According to a senior CPCB official, in some places, aluminium, arsenic and chromium were found to be exceeding safe limits.

Lakshmi Vilas Bank locked at lower circuit after MD, CEO resigns
The board approved raising of funds by way of issuance of equity shares or such other eligible security for an aggregate amount not exceeding Rs 1,000 crore.

RBL CEO clarifies on insider trading charge, says Sebi did not contact them
The overall growth for the bank will be in the 20-25% range.

Lakshmi Vilas Bank slips 5% after CEO quits
Mukherjee quit citing personal reasons, the bank informed the bourses late in the evening.

Sun Pharma gains 4% on clearing SEBI inquiry
The share price down 31 percent in last 1 year.

Apple To Start Online Sales “Within Months” After New FDI Rules: Report

Selling online will be a big step forward for Apple in a country where counterfeit products abound in online platforms increasing buyers’ distrust.

Using dips to invest in ELSS
Investing in ELSS is one of the ways an investor can save tax under Section 80C.

Concerns govt would take more reserves from central bank were unwarranted
Transfer may be used to keep a buffer to maintain the fiscal deficit target.

Forever 21 prepares for potential bankruptcy filing: Bloomberg
The company did not immediately respond to a Reuters request for comment.

PM Narendra Modi launches ‘Fit India Movement’
Fit India movement aims to encourage people to inculcate physical activity and sports in their everyday lives.

Facebook acknowledges flaw in Messenger Kids app

Tata Group’s Indian Hotels has lined up asset buyouts with partner GIC
IHCL’s own properties will also be looked at for acquisition by the SPV.

European shares slip on recession, Brexit worries
The fall in the pound helped Britain’s FTSE 100 rise 0.14 per cent.

Australian shares edge up as risk appetites in check; NZ retreats
Australia’s S&P/ASX 200 index closed up 0.1 per cent, or 6.8 points, at 6,507.4.

CG Power Board Removes Gautam Thapar As Chairman

On August 19, CG Power’s Risk and Audit Committee had raised red flags on five counts which were prejudicial to the company.

MV Agusta Turismo Veloce 800 launched in India for Rs 18.99 lakh

Bypolls to two Rajya Sabha seats from UP announced

Global measles cases three times higher than last year: WHO
The biggest outbreaks are raging in the Democratic Republic of Congo (155,460 cases), Madagascar (127,454) and Ukraine (54,246), it said.

Government should scrap capital gains tax, go for higher STT: Samir Arora
The effect of bolder reforms would be very strong on the market sentiment and kickstart the economy.

FDI in retail: The much-needed booster shots are here

  • FDI in multi-brand is still not permissible

JM Financial PE buys minority stake in Innovcare Lifesciences for about Rs 45cr
Deal to happen in 2 tranches, based on achievement of milestones. Innovcare plans to use the funds to augment its current.

Fotowatio Renewable may seek a new buyer for India solar business
FRV has sent out feelers to a few investors to check their interest in acquiring assets, if talks with Hero Future fail.

Forever 21 Prepares For Potential Bankruptcy Filing: Report

Forever 21 is one of the biggest mall tenants still standing after a wave of bankruptcies in the retail sector.

Economic Growth Seen Slipping In April-June, More Stimulus Expected: Poll

If the latest number for expansion of gross domestic product is 5.7 per cent or less, the quarter had the slowest expansion in 21 quarters, since 5.3% in January-March 2014.

RBI may have changed forex gains calulation method: Reports
The RBI transferred a record surplus of Rs 1.76 lakh crore to the government on August 26.

Gujarat Gas seeks shareholders nod to raise borrowing limit to Rs 15,000 cr
In a notice to shareholders, the firm said its 5th annual general meeting in 2017 had granted authority to the board of directors of the company to borrow money up to Rs 10,000 crore.

Reformed BOT should be definitely doable: Vinayak Chatterjee, Feedback Infra
Earlier, BOT had spiralled downwards under the weight of its own contradictions.

Confident of expanding AUM to Rs 100 trillion over next decade: NS Venkatesh, AMFI

SBI Credit Card Business Plans Rs 8,000-Crore IPO: Report

At the end of March 31, 2019, SBI Card, which is 74 per cent owned by SBI and 26 per cent by US private equity firm Carlyle Group, had total assets worth Rs 19,593 crore.

Bank Frauds Jump 74% To Rs 71,543 Crore In FY19, Says RBI

The average lag between the date of occurrence of frauds and its detection by banks was 22 months, the Reserve Banks said.

Expansion pay-off: Ramco Cements eyes Rs 7500 Cr revenue in FY21

“Soft Patch Mutating Into A Cyclical Downswing”: RBI On Slowing Growth

The RBI report said reviving consumption and private investment have assumed the “highest priority” now for all.

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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