Banking updates: October 2018

Wednesday, October 31, 2018

India needs to create 100 mn new job opportunities in next decade: Report

India will need to increase its labour force participation rate (LFPR) by providing greater opportunities to its working population especially women.

from Economy-News-Economic Times https://ift.tt/2SzJuXT
via

Liquidity Adjustment Facility: Fixed Rate Repo Operations

from PRESS RELEASES FROM RBI https://ift.tt/2CToWo7
via

PNB Housing Finance surges 9% after raising Rs2,450cr through commercial papers

This amount is over and above the Rs1,775cr raised earlier.

from India Infoline News Service https://ift.tt/2Srz8JP

Dabur India slumps 3% despite posting in line results

Dabur's shares slumped to a 4% low in intraday trade despite posting a 4% rise in net profits in Q2FY19.

from India Infoline News Service https://ift.tt/2qkrDHD

Nifty IT index gains ~4% on weak rupee

The rupee retouched key levels of 74 against the US dollar on Wednesday.

from India Infoline News Service https://ift.tt/2Q9K7pt

364-Days Treasury Bills - Auction Result: Cut off

Date of Auction: Oct 31, 2018
I.	Total Face Value Notified	₹ 4,000 Crore
II.	Cut-off Price and Implicit Yield at Cut-Off Price	₹ 93.06 (YTM: 7.4780%)
III.	Total Face Value Accepted	₹ 4,000 Crore

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/1011

from PRESS RELEASES FROM RBI https://ift.tt/2SxWqh1
via

182-Days Treasury Bills - Auction Result: Cut off

from PRESS RELEASES FROM RBI https://ift.tt/2yHmLkk
via

91-Days Treasury Bills - Auction Result: Cut off

from PRESS RELEASES FROM RBI https://ift.tt/2OhfpZU
via

ITC drops ~1% despite reports of ramping up dairy business

The company plans to enter the "paneer" and "milkshakes" segments within two months.

from India Infoline News Service https://ift.tt/2JqnA5j

Stocks react to Q2FY19 results: Emami down; Torrent Power, ABB, Phillips Carbon up

Shares of Torrent Power rose 11% on the BSE after the company reported a sharp growth in earnings in Q2FY19 due to an improvement in revenue growth and lower tax rate for the quarter.

from India Infoline News Service https://ift.tt/2DdVZnx

RBI imposes monetary penalty on Dr. Ambedkar Nagrik Sahakari Bank Maryadit, Gwalior, Madhya Pradesh

The Reserve Bank of India has imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on the Dr. Ambedkar Nagrik Sahakari Bank Maryadit, Gwalior, Madhya Pradesh in exercise of the powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of the provisions of Section 27 of Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) and restrictions imposed upon it under Supervisory Action Framework.

The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank submitted a written reply. After considering the facts of the case, the bank’s reply in the matter and personal hearing, the Reserve Bank of India came to the conclusion that the violations were substantiated and warranted imposition of penalty.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/1008

from PRESS RELEASES FROM RBI https://ift.tt/2ABbqUl
via

Autonomy of Reserve Bank 'essential', says finance ministry

Tensions between the RBI and the government have spilled into the public domain after deputy governor Viral Acharya said last week that undermining central bank independence could be “potentially catastrophic”.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Q6qTRD

Autonomy of RBI essential, nurtured by govt: Finance Ministry

Public interest and the need of economy guide the RBI and the government, the Finance Ministry's statement said

from The Hindu - Economy https://ift.tt/2ABQ5u9
via

GE Power wins four contracts worth Rs1,783cr from NTPC

The contracts are for the supply and installation of Wet FGD systems.

from India Infoline News Service https://ift.tt/2JsPi1b

Govt issues statement on spat with the RBI, says will continue to engage in consultations in public interest

The government added that its has never made public the subject matter of those consultations and has only communicated the final decision.

from Economy-News-Economic Times https://ift.tt/2DeMggX
via

Ease of Doing Business ranking: India may register 'big jump' like last year

Govt is optimistic that key reforms initiatives like implementation of GST in July, relaxed construction permit, ease in starting a business and trading across borders will help India to improve ranking

from Economy-News-Economic Times https://ift.tt/2CSd6dF
via

Stocks react on Q2FY19 results: Emami down; Torrent Power, ABB, Phillips Carbon up

Stocks react on Q2 results: BoB up; Cholamandalam Investment flat, while Motilal & Vakrangee trade lower

These stocks were reacting to their respective Q2 results announced on Tuesday.

from India Infoline News Service https://ift.tt/2ADJ4sL

Dr.Reddys announces launch of gStrattera in US

The Strattera brand and its generic had sales of approximately $304mn for the twelve months ending August 2018 in the US, according to IMS Health.

from India Infoline News Service https://ift.tt/2Sx5nY3

Banking

The sale, which is in the final stages, will give the beleaguered IL&FS much needed liquidity of Rs 6,000 crore-Rs 8,000 crore by way of equity returns to repay some of the loans that faced defaults.

from Banking/Finance-Industry-Economic Times https://ift.tt/2SAPcZV

Banking

The government demands dilution of restrictions on lending to below ‘Double A’ rated borrowers, which it thinks tapered credit flow and growth

from Banking/Finance-Industry-Economic Times https://ift.tt/2yHKMYO

Banking

End of cheap money from MFs and of easy money from NBFCs are driving borrowers to banks again.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Oddndb

Banking

In an interview with ET, Deutsche Bank, India, CEO Ravneet Gill talks about his bank’s retail plan, current liquidity squeeze felt by NBFCs, various reform measures taken by the government.

from Banking/Finance-Industry-Economic Times https://ift.tt/2qlVPCo

Banking

Gurumurthy told ET “Acharya going public on issues not discussed in or disclosed to the board which met just two days earlier”.

from Banking/Finance-Industry-Economic Times https://ift.tt/2CPzc0y

Banking

Loans to a pool of 12 companies, including GVK Gautami, GMR Rajahmundry, Monnet Power and Coastal Projects and totalling Rs 2,335 crore, was sold in August for Rs 621crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/2zjgfQf

Banking

In total, 11 banks are under PCA with a cumulative 18.5% share in advances and 20.8% share in deposits.

from Banking/Finance-Industry-Economic Times https://ift.tt/2zensBq

Banking

The Financial Stability and Development Council (FSDC) headed by the finance minister decided that the regulators and the government will keep a close watch on the developing situation and take all necessary measures.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Qb3DCl

Banking

The Indian central bank in April said companies such as Mastercard, Visa and American Express will from October need to store their payments data "only in India" so that the regulator could have "unfettered supervisory access".

from Banking/Finance-Industry-Economic Times https://ift.tt/2zdY4vA

Banking

Last week, the central bank said had announced to inject Rs 40,000 crore into the system in November through purchase of government securities as it looks to meet festive season demand for funds.

from Banking/Finance-Industry-Economic Times https://ift.tt/2CNBMUN

Banking

While bigger and well managed NBFC-MFIs are still managing to receive funds, though at a higher cost, the smaller ones are shunned because they are perceived as high-risk.

from Banking/Finance-Industry-Economic Times https://ift.tt/2qixbT1

Banking

The meeting assumes significance as the FSDC is meeting for the first time after RBI Deputy Governor Viral Acharya raised the issues regarding independence of the central bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/2zeyEhn

Industry choice vital to benefit from India growth story

An investor needs to invest in industries that generate better returns relative to others and then needs to find specific assets within the industry that are available at attractive valuations.

from Economy-News-Economic Times https://ift.tt/2zgdXl8
via

Cube Highways close to buying IL&FS’ Seven Road projects

RBI’s Prompt Corrective Action just baby steps before weak banks leap

As NBFCs struggle, banks set to reclaim lost ground after NPA worries take a backseat

Banks have managed to expand loans at 14.5% year-on year, the highest growth recorded in four years.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Oddndb
via

There’s need to engage better with long-term global investors: Ravneet Gill CEO, Deutsche Bank, India

RBI member S Gurumurthy complains to Governor on Viral Acharya Speech

IDFC Bank sells Rs 2,400 crore NPAs to Edelweiss Asset Reconstruction Company

RBI’s prompt corrective action just baby steps before weak banks leap

In total, 11 banks are under PCA with a cumulative 18.5% share in advances and 20.8% share in deposits.

from Banking/Finance-Industry-Economic Times https://ift.tt/2zensBq
via

FM Arun Jaitley discusses liquidity issues; RBI assures adequate fund flow in system

Mastercard says storing India payments data locally in face of new rules

Reserve Bank of India to inject Rs 12,000 crore liquidity in system on Thursday

MFIs seek funding support from banks, Sidbi

FSDC discusses NBFC liquidity issues; RBI assures adequate fund flow in system

NIIF acquires IDFC Infrastructure Finance

IDFs are investment vehicles for channeling investment into India's infrastructure sector.

from Economy-News-Economic Times https://ift.tt/2qn919P
via

Government invokes never-used powers to make Urjit Patel fall in line

Section 7 had never been used in independent India — not even when the country was about to default in 1991.

from Economy-News-Economic Times https://ift.tt/2SxZGZG
via

Govt may step up disinvestment drive with power PSUs’ mergers

The process may kickstart the process with top power generation company NTPC taking over hydropower firm SJVN, a senior government official said.

from Economy-News-Economic Times https://ift.tt/2zeRwg5
via

Animal husbandry likely to get Rs 2,477 crore

The RBI will soon clear the proposal of extending the facility of Kisan Credit Card (KCC) to dairy, livestock and fisheries farmers to help them meet their working capital requirement, agriculture ministry officials said.

from Economy-News-Economic Times https://ift.tt/2yGyzDo
via

India, Italy to fast-track trade, two-way investments

The Indian Prime Minister said both sides have decided to boost ties in key sectors such as lifestyle accessories design, transportation and automobile design, energy, and life sciences.

from Economy-News-Economic Times https://ift.tt/2qhUegD
via

'Aadhaar Seva Kendras' to ensure ease in Aadhaar-related services: UIDAI CEO

In the first official confirmation about the mega project in the offing, Pandey said: "With Aadhaar Seva Kendras, we are building hassle-free and resident-friendly enrolment and update facility infrastructure to ensure ease in Aadhaar related services to residents".

from Economy-News-Economic Times https://ift.tt/2PyTemA
via

High consumption of rubber may trigger its production growth in India

To meet challenges she advocated multifaceted approach combining institutional, developmental and regulatory measures.

from Economy-News-Economic Times https://ift.tt/2yIvlj0
via

PCI Security Standards Council appoints India head to strengthen data security

PCI SSC is a set of security standards designed to ensure that all companies that accept, process, store or transmit credit card information maintain a secure environment.

from Economy-News-Economic Times https://ift.tt/2Rq9lR0
via

India's long-term growth story robust despite global headwinds: Report

According to Dun & Bradstreet's Economy Forecast, the balance sheet of banks, corporate and government remains strained while the gross non-performing assets (NPAs) have increased significantly.

from Economy-News-Economic Times https://ift.tt/2Q2Fm13
via

Suresh Prabhu indicates improvement in India's ranking in World Bank's doing biz index

According to sources, improvement is expected in parameters, including construction permit, starting a business, and trading across borders.

from Economy-News-Economic Times https://ift.tt/2JpcX2A
via

ICAI fast-tracks pending cases for enquiry

Chartered accountants' apex body noted that the long pending residual cases under old disciplinary mechanism (section 21D of the Chartered Accountants Act 1949) were concluded by fast tracking the hearings.

from Economy-News-Economic Times https://ift.tt/2OWbiHO
via

Zia, cornered: on BNP facing setback in Bangladesh

The BNP suffers yet another setback as Bangladesh’s elections approach

from The Hindu - Editorial https://ift.tt/2Jr92Cs
via

Averting polarisation: on SC pushing back Ayodhya verdict

The Supreme Court has judiciously pushed back the timeline for a verdict on Ayodhya

from The Hindu - Editorial https://ift.tt/2DcOZax
via

Underwriting Auction for sale of Government Securities for ₹ 11,000 cr on November 1, 2018

The Government of India has announced the sale (issue/re-issue) of Government Stock detailed below through auctions to be held on November 2, 2018.

As per revised scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

(₹ in crore)
Security	Notified Amount	Minimum Underwriting Commitment (MUC) amount per PD	Minimum bidding commitment per PD under ACU auction
6.65% GS 2020	2,000	48	48
7.59% GS 2026	2,000	48	48
7.17% GS 2028	3,000	72	72
7.50% GS 2034	1,000	24	24
7.06% GS 2046	3,000	72	72

The underwriting auction will be conducted through multiple price based method on November 1, 2018 (Thursday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E- Kuber) System between 10.30 a.m. and 12.00 noon on the date of underwriting auction.

The underwriting commission will be credited to the current account of the respective PDs with RBI on the date of issue of securities.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/1007

from PRESS RELEASES FROM RBI https://ift.tt/2Ohk1PC
via

Money Market Operations as on October 30, 2018


(Amount in ₹ billion, Rate in Per cent)

MONEY MARKETS ^@
	Volume	Wtd.Avg.Rate	Range
	(One Leg)
A. Overnight Segment (I+II+III+IV)	2,613.08	6.45	5.10-6.65
I. Call Money	205.15	6.45	5.10-6.60
II. CBLO	1,590.89	6.45	6.25-6.50
III. Market Repo	813.04	6.45	5.50-6.60
IV. Repo in Corporate Bond	4.00	6.65	6.65-6.65
B. Term Segment
I. Notice Money**	1.00	6.30	5.50-6.60
II. Term Money^@@	0.80	-	7.40-7.95
III. CBLO	0.84	6.40	6.40-6.40
IV. Market Repo	0.50	6.00	6.00-6.00
V. Repo in Corporate Bond	0.00	-	-

RBI OPERATIONS^@
	Auction Date	Tenor (Days)	Maturity Date	Amount Outstanding	Current Rate / Cut off Rate
C. Liquidity Adjustment Facility
(i) Repo (Fixed Rate)	30/10/2018	1	31/10/2018	38.76	6.50
(ii) Repo (Variable rate)	16/10/2018	21	06/11/2018	300.00	6.58
	19/10/2018	14	02/11/2018	235.02	6.52
	23/10/2018	14	06/11/2018	235.02	6.53
	26/10/2018	14	09/11/2018	235.04	6.54
	30/10/2018	14	13/11/2018	235.00	6.58
(iii) Reverse Repo (Fixed rate)	30/10/2018	1	31/10/2018	139.18	6.25
(iv) Reverse Repo (Variable rate)	-		-	-	-
D. Marginal Standing Facility	30/10/2018	1	31/10/2018	0.00	6.75
E. Standing Liquidity Facility Availed from RBI ^$				20.32
RESERVE POSITION ^@
F. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on ^#		25/10/2018		4,842.91
(ii) Average daily cash reserve requirement for the fortnight ending		26/10/2018		4,869.62
G. Government of India Surplus Cash Balance Reckoned for Auction as on ^¥		30/10/2018		266.66
^@ Based on RBI / CCIL/ FIMMDA Data
- Not Applicable / No Transaction
** Relates to uncollateralized transactions of 2 to 14 days tenor.
^@@ Relates to uncollateralized transactions of 15 days to one year tenor
# The figure for the cash balances with RBI on Sunday is same as that of the previous day (Saturday).
^$ Includes refinance facilities extended by RBI
^¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015
Ajit Prasad Assistant Adviser
Press Release : 2018-2019/1006

from PRESS RELEASES FROM RBI https://ift.tt/2SsKX2e
via

Liquidity Adjustment Facility: Fixed Rate Reverse Repo Operations

The result of the RBI Fixed Rate Reverse Repo Operations held on October 30, 2018 is as under:

Amount (face value in ₹ Billion)
Items		Overnight Reverse Repo Auction 6.25% Fixed Rate
1. Bids received
(i)	Number	47
(ii)	Amount	139.18
2. Bids accepted
(i)	Number	47
(ii)	Amount	139.18

Ajit Prasad
Assistant Adviser

Press Release: 2018-2019/1005

from PRESS RELEASES FROM RBI https://ift.tt/2EUaoXK
via

RBI Announces OMO Purchase of Government of India Dated Securities

Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the Reserve Bank has decided to conduct purchase of the following Government securities under Open Market Operations for an aggregate amount of ₹ 120 billion on November 01, 2018 (Thursday) through multi-security auction using the multiple price method:

Sr. No	Security	Date of Maturity
1	8.15% GS 2022	11-Jun-2022
2	7.72% GS 2025	25-May-2025
3	6.79% GS 2027	15-May-2027
4	6.68% GS 2031	17-Sep-2031
5	6.57% GS 2033	5-Dec-2033

There is an overall aggregate ceiling of ₹ 120 billion for all the securities in the basket put together. There is no security-wise notified amount.

RBI reserves the right to:

Decide on the quantum of purchase of individual securities.
Accept offers for less than the aggregate amount of ₹ 120 billion.
Purchase marginally higher than the aggregate amount due to rounding-off effects.
Accept or reject any or all the offers either wholly or partially without assigning any reason.

The eligible participants should submit their offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10.30 a.m. and 12.00 noon on November 01, 2018 (Thursday). Only in the event of system failure, physical offers would be accepted. Such physical offer should be submitted to Financial Markets Operations Department (Please click here to send email; Phone no: 022-22630982) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before 12.00 noon.

The result of the auction will be announced on the same day and payment to successful participants will be made during banking hours on November 02, 2018 (Friday). Successful participants should ensure availability of requisite amount of securities in their SGL account by 12 noon on November 02, 2018 (Friday).

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/1004

from PRESS RELEASES FROM RBI https://ift.tt/2ESS6Gx
via

RBI releases data on ECB/FCCB/RDB for September 2018

The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB) and Rupee Denominated Bonds (RDB) both, through Automatic Route and Approval Route, for the month of September 2018.

Ajit Prasad
Assistant Adviser

Press Release: 2018-2019/1003

from PRESS RELEASES FROM RBI https://ift.tt/2zh2y4i
via

Data on India’s Invisibles for First Quarter (April- June) 2018-19

The Reserve Bank today released data on India’s invisibles as per the IMF’s Balance of Payments and International Investment Position Manual (BPM6) format for April-June of 2018-19.

Ajit Prasad
Assistant Adviser

Press Release: 2018-2019/1002

from PRESS RELEASES FROM RBI https://ift.tt/2CQCsJ1
via

RBI governor Urjit Patel may resign, say reports

There has been an irreversible breakdown between the RBI Governor Urjit Patel and the government, the report further stated, adding that all options were on the table.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2qlNf6q

Cognizant banking delivery head quits

Deshpande, who joined Cognizant as an architect in 1999, went on to head the BFS product solutions business and incubated it in emerging markets. He was also the delivery head for the infrastructure services business and played a key role in Cognizant’s $2.7-billion acquisition of Trizetto.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2zdM652

Sensex down over 200 points; Nifty below 10,200

Infosys, Yes Bank, HDFC, Vedanta amd Mahindra and Mahindra were among the major gainers on the BSE index, rising as much as 2.27 per cent. On NSE, sub-indices Nifty IT and PSU Bank surged the most by gaining as much as 1.26 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2CQSiDo

RBI governor exits finance ministry via side gate

Urjit Patel had come to attend a routine meeting of the Financial Stability and Development Council, headed by the finance minister. The exit was carefully planned as Patel took the side gate out of North Block, where his car was waiting for him. But unlike their boss, the deputy governors chose to take the main door, although none of them spoke to reporters.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2RrbETQ

IL&FS likely to sell off a dozen NH projects

These projects involved investment of at least Rs 14,000 crore, sources in the National Highways Authority of India (NHAI) said. IL&FS representatives said they would soon appoint a professional for valuation of the completed stretches to assess how much they can get from selling these revenue generating projects.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Oh0m2g

SBI halves daily ATM withdrawal limit for certain users

The withdrawal limit has been curtailed on Classic and Maestro debit cards, held by a large number of the bank customers. However, customers with other variants of SBI debit card can continue to enjoy higher daily withdrawal from ATMs.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2RmLelX

Govt may consider outright sale of debt-ridden IL&FS

A plan to be presented to a bankruptcy court on Wednesday by the state-appointed board of the lender includes selling the entire stake to a financially strong investor and ensure business continuity. Other options include splitting businesses according to verticals and disposing them off to several buyers or injecting liquidity at group level.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SsDPmy

Re slide, safeguard duty cloud Rs 14k cr solar projects

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2DcucEi

We don’t focus on shiny features but improving user experience: OnePlus co-founder Carl Pei

OnePlus, the Shenzhen-based premium phone maker was ready to unveil its new OnePlus 6T smartphone on October 30 in New York City. But then technology

from The Hindu - Industry https://ift.tt/2DeHuQz

RBI Governor Urjit Patel may consider resigning after rift with Centre: report

The RBI was not immediately available for comment

from The Hindu - Industry https://ift.tt/2COKphT

EU probes Tata Steel, ThyssenKrupp deal

Anti-trust concerns spur investigation

from The Hindu - Industry https://ift.tt/2Q2UziM

Bank of Baroda net up on interest income

Lower trading gains hit other income

from The Hindu - Industry https://ift.tt/2OYV7JW

Govt. to cut further stake in CIL

The government will divest a further 3 % stake in Coal India Ltd. at a floor price of ₹266 per equity through the offer for sale route. The offer open

from The Hindu - Industry https://ift.tt/2CQdsl6

ICICI Prudential MF files consent plea

Seeks to settle issue related to investment in ICICI Securities’ IPO with SEBI

from The Hindu - Industry https://ift.tt/2OZASf9

ITC enters pouched milk, curd segment

Paneer and milk shake to follow

from The Hindu - Industry https://ift.tt/2qhilMq

Sri City to focus on social infra

Eyes holistic ecosystem for co-existence of men, machines

from The Hindu - Industry https://ift.tt/2StpTZH

Ramco Cements chalks out ₹850-crore expansion plan

Firm to raise clinkering capacity of Jayanthipuram plant in A.P. by 1.5 MTPA

from The Hindu - Industry https://ift.tt/2RjOej8

Cognizant net slides on rupee depreciation

Firm narrows revenue estimate range

from The Hindu - Industry https://ift.tt/2PqnZKH

Weak rupee boosts TechM net by 27.3%

IT firm posts Q2 profit at ₹1,064 crore

from The Hindu - Industry https://ift.tt/2RpdR1P

Chola Q2 net profit rises 49%

Firm attributes increase to robust vehicle financing growth

from The Hindu - Industry https://ift.tt/2Oa0HUB

SBI halves daily ATM withdrawal to ₹20K for certain card holders from Wednesday

The country’s largest lender SBI has halved the daily cash withdrawal limit from ATMs for certain debit-card holders to ₹20,000 from Wednesday. The w

from The Hindu - Industry https://ift.tt/2Qc1pTe

RBI Governor Urjit Patel may consider resigning after rift with Centre: report

The RBI was not immediately available for comment

from The Hindu - Economy https://ift.tt/2COKphT
via

Liquidity, economy figure in FSDC meet

Patel, FM meet after weekend furore

from The Hindu - Economy https://ift.tt/2Q3vOCZ
via

How Centre’s ‘board game’ fuelled the feud with RBI

Abrupt ending of Nachiket Mor’s tenure added to tension

from The Hindu - Economy https://ift.tt/2SpQDdv
via

Nifty Metal slips 3%; Tata Steel, Jindal Stainless lead losers' group

Tata Steel plunged ~5% and was leading the fall followed by Jindal Stainless (Hisar) and Coal India (CIL), which declined 4% and 3%, respectively.

from India Infoline News Service https://ift.tt/2OXbS8l

Tech Mahindra up ~7% as Q2 results beat estimates

The companys consolidated revenue in the period stood at Rs8,630cr, up 4.3% qoq and 13.5% yoy.

from India Infoline News Service https://ift.tt/2yLjX5T

Cummins India climbs 12% post Q2FY19 numbers

The companys Q2FY19 numbers strongly beat consensus estimates across the broader performance criteria.

from India Infoline News Service https://ift.tt/2P3U8In

Stocks react Q2 results: BoB up; Cholamandalam Investment flat, while Motilal & Vakrangee trade lower

These stocks were reacting to their respective Q2 results announced on Tuesday.

from India Infoline News Service https://ift.tt/2Ohb4WO

IHH gets CCI approval to acquire Fortis Healthcare

This was the last approval pending before the deal was actualized.

from India Infoline News Service https://ift.tt/2zjEdLd

Tata Motors down ~2% before announcement of Q2 earnings

Expectations indicate that the Mumbai headquartered company will continue to post strong performance in Q2FY18 led by 24% yoy (8% qoq) volume growth and 4% yoy (-1% qoq) realization growth.

from India Infoline News Service https://ift.tt/2Sy5DWM

Symmetrical triangle breakdown in gold leads to price decline towards 31,650

In the previous session, we saw prices break the lower band support of Rs31,850 and is currently trading around the same.

from India Infoline News Service https://ift.tt/2qgtvRQ

Lupin Q2FY19 Result Expectation

Lupin is expected to report continued weakness in its US business due to higher competition in its large generic products. We expect 5% yoy growth in revenue while EBITDA and PAT are expected to decline 29% and 37% yoy, respectively.

from India Infoline News Service https://ift.tt/2qkawG6

Cognizant lowers full year revenue growth target for CY18

Implying weak growth for Q4CY18

from India Infoline News Service https://ift.tt/2Rt5mTH

Government to raise Rs5,000cr by divesting 3% stake in Coal India

The Government is offering to sell shares of Coal India at a price of Rs266/share.

from India Infoline News Service https://ift.tt/2ESlMDs

Cartoonscape - October 31, 2018

from The Hindu - Cartoon https://ift.tt/2SwIzYj

Tuesday, October 30, 2018

Morgan Stanley: RBI-government spat shows central bank's independence

Viral Acharya had last Friday made a fervent pitch for independence/autonomy for the regulator and warned of punishment by the markets if it is undermined.

from Economy-News-Economic Times https://ift.tt/2AAXqdw
via

Results of Auctions of 3 to 14 years State Development Loans of Eight State Governments - Full Auction Result

from PRESS RELEASES FROM RBI https://ift.tt/2qkDh5u
via

Larsen & Toubro Q2FY19 Result Expectation

Revenue for Q2FY19 is expected to grow 10.6% yoy.

from India Infoline News Service https://ift.tt/2PC6gjz

Nifty ends lacklustre session 52 points lower

Midcap and smallcap stocks outperform.

from India Infoline News Service https://ift.tt/2EZV0tc

IL&FS Transportation MD K Ramchand resigns

Ramchand's resignation is with effect from October 29, 2018, as per the company's filing with the exchanges.

from India Infoline News Service https://ift.tt/2PvMPZx

US-China trade war drags Chinese yuan to multi-year low

The Peoples Bank of China has also trimmed its daily reference rate, which also put pressure on the currency.

from India Infoline News Service https://ift.tt/2DcFoAS

Motherson Sumi soars 6.4% as shares go ex-bonus

The company celebrated its silver jubilee in the market with a bonus issue of 1:2.

from India Infoline News Service https://ift.tt/2RtUghl

Jaitley-led panel discusses NBFC liquidity issues; RBI assures adequate fund flow

Reserve Bank governor Urjit Patel said the liquidity problem in NBFCs is not as severe as is being projected, but assured the government that it would ensure adequate liquidity in the system, sources said after the meeting.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Q4gSVd

Home

Wednesday, October 31, 2018

Tuesday, October 30, 2018