EOD Update as on 13-09-2019

Altico defaults on interest payment, raises concern
The non-banking finance company missed interest payment of Rs 19.97 crore on an overseas loans taken from Dubai-based Mashreq Bank, it said in a notification to BSE.

Trump advisers consider interim China deal to delay tariffs
The discussions are preliminary and Trump has yet to sign off on it.

PM Modi responsible for Chandrayaan-2 failure, his presence was ‘bad omen’: Kumaraswamy
Prime Minister Narendra Modi may be responsible for the failure of Vikram moon lander on September 6, according to H D Kumaraswamy. The former Karnataka chief minister said PM Modi’s presence at the Indian Space Research Organisation (ISRO) could have been a “bad omen”.

Toyota using made-for-Tesla Panasonic batteries for China hybrids: Report
Toyota is using Panasonic’s cylindrical batteries in its new Corolla and Levin plug-in hybrid sedans launched in China this year.

Larsen & Toubro wins up to Rs 2,500 crore contract in Maharashtra, Odisha
“The water & effluent treatment business of L&T Construction has secured orders from prestigious clients from two states in India,” the company said in a statement.

Daunting Odds As India Targets $1 Trillion In Exports In 5 Years

Achieving that export goal is key to making India a $5 trillion economy, Commerce Minister Piyush Goyal said.

Ola Bike expands to 150 cities across India, aims to grow 3 times in next 12 months
The company, in a statement said it planned to scale up its presence and introduce the category in hundreds of new towns.

DHFL slips 2% on fresh payment default

The default by DHFL is towards principal and interest on non-convertible debentures (NCDs) worth Rs 350 crore issued by it.

August retail inflation climbs but RBI rate cut hopes still high
August CPI inflation 3.21% y/y vs 3.15% for July; CPI food inflation 2.99% y/y vs 2.36% in July.

Bank of Baroda committee to meet next week to consider raising funds via bonds
Public sector lender Bank of Baroda on Friday said its capital raising committee will meet next week to consider raising funds.

India Inc’s revenue growth falls to 11-quarter low in Q1FY20
As per the rating agency, cement volume growth slowed to 1.8 percent due to slowdown in project execution on account of general elections, economic slowdown impacting private sector capex, as well as liquidity issues and labour scarcity.

DHFL shares crack 5% after the firm reports fresh default
The company reported its default of worth Rs 196.65 crore towards principal and interest amount on the non-convertible debentures (NCDs) worth Rs 350 crore issued by it.

Stock market update: Cement stocks mixed; Andhra Cements jumps over 4%
Andhra Cements, NCL Industries and Shiva Cement were the top gainers.

Transmission rises 2%

Consumption, insurance stocks are the new defensives: Sandip Sabharwal
Dont see big risk to insurance companies over the next 10 years

Telecom shares mixed; Vodafone Idea dips 3%

RBI likely to go for further policy easing in October 4 meet
According to global as well as domestic brokerages, moderating inflation and a negative output gap are likely to open the door for an accommodative monetary policy.

RBI likely to go for further policy easing on Oct 4
According to BofAML, RBI rate cuts are necessary to bring real lending rates down to incentivise investment.

Delhi court allows Robert Vadra to travel abroad on business
Special judge Arvind Kumar granted permission to Vadra to travel to Spain from September 21 to October 8.

Govt may go for 100% stake sale in Air India

Govt may sell stake in BPCL to overseas oil firm

Lenders Meet On Altico’s Potential Restructuring Deal Next Week: Report

A regulatory filing disclosed the Altico had defaulted on the gross principal amount of Rs 340 crore. The interest payment comes to Rs 19.97 crore.

Police Probing Budweiser Beer Maker In Tax Evasion Case: Report

Local authorities barred AB InBev, the world’s largest brewer, in July from selling its beer in the high profile New Delhi market for evading taxes.

Government Curbs Onion Shipments By Imposing Minimum Export Price

Wholesale prices in India’s largest onion trading hub, Lasalgaon in Maharashtra, have nearly doubled in a month to Rs 29,500 per tonne.

Exports Decline 6% To $26.13 Billion; Trade Deficit Narrows

Export sectors that recorded positive growth in the last month include iron ore, electronic goods, spices, and marine products.

Banks’ Loans Rise 10.2% In Two Weeks To August 30: Reserve Bank Of India

Outstanding loans rose Rs 9 lakh crore to Rs 96.81 lakh crore in the two weeks ended August. 30.

London Stock Exchange Rejects Hong Kong’s $39 Billion Takeover Offer

LSE shares rose on the news of the offer rejection and were trading up 3.3 per cent at at 7,486 pence at 1405 GMT.

Traders’ Body Seeks Ban On Amazon, Flipkart’s Festive Season Sale

CAIT also demanded a “blanket ban” on such sales and asked the government to probe the potential violation of FDI norms.

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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