Domestic News
- Government is considering additional capital infusion of up to Rs 30000 cr in public sector banks as they have been unable to raise required funds from the markets.
- Government says any new e-commerce policy would have a clause to shut down predatory pricing by e-commerce firms that encourage deep discounting and distort prices in the marketplace.
- Government expects to complete processes for 5G spectrum auction by August and the services will be rolled out by 2020.
- Government has no proposal to change the existing foreign direct investment (FDI) policy in the multi-brand retail trading sector.
- Government to announce the ranking of states and union territories (UTs) on the basis of measures being taken by them to promote startups.
- Government imposes anti-dumping duty for five years on a Chinese chemical used in dye and photography industry in order to guard domestic players.
- Government to raise Rs 10000 cr through follow-on offer of Bharat-22 ETF in February.
- Prime Minister Narendra Modi says his government wants to ensure that 99% of items attract sub-18% GST slab.
- India’s inflation based on Wholesale Price Index (WPI) eased to 4.64% in November from 5.28% in the previous month.
- India’s exports growth slows to 0.8% in November while imports rose 4.3%, leaving a trade deficit of $16.7 bn, higher than $15.1 bn in November last year.
- India announces a $1.4 bn financial assistance package for the Maldives.
- Economic Affairs Secretary Subhash Chandra Garg says the government will focus more on debt management compared to its current focus on fiscal deficit for the next few years, as there is a huge overhang of public debt.
- RBI's board deliberates on the central bank's governance framework and decides that the matter requires further examination; the board takes no major decision on liquidity or PCA norms.
- RBI deputy governor Viral Acharya says the central bank prefers fundamental changes to smoothen loan flow to micro-businesses through a public credit registry, rather than doling out forbearances.
- SEBI chief advises investment bankers to set prices of IPOs at reasonable levels in order to help strengthen the primary market.
- SEBI issues new norms to cap total expenses for investment in mutual funds at 2.25%.
- SEBI relaxes guidelines pertaining to setting up cyber security operations centre for small market intermediaries as they lack knowledge in cyber security.
- NSE plans to launch weekly options contracts on the Nifty 50 index.
- NSE says trading members will be compulsorily placed in risk reduction mode when 90% of the members’ capital is utilised towards margins.
- A private equity consortium of Motilal Oswal Private Equity (MOPE) and InvAscent acquire about 70% in Symbiotec for $100 mn.
- Studds Accessories gets Sebi's nod to float an IPO.
- Delhi High Court dismisses a plea challenging the LIC move to acquire 51% stake in IDBI.
- Syndicate Bank mulls a Rs 500 cr rights issue or Tier 1 bonds by the end of the last quarter of the current fiscal.
- YES Bank sells 2.13% stake in Fortis Healthcare in various tranches.
- New York Life acquires around 2% stake in Max Financial Services through bulk deals and open market purchases for over Rs 215 cr.
- Brookfield Asset Management to buy Leela’s Hotels for Rs 4500 cr.
- Indian Oil Corporation announces share buyback of about 30 cr shares and also decides to give interim dividend at the rate of Rs 6.75.
- Patanjali Ayurved may shortly announce plans to float an IPO.
- Infosys announces joint venture with Hitachi, Panasonic, Pasona in Japan.
- Reliance Jio Infocomm in talks with US contract manufacturer Flex for locally producing about 100 mn mobile phone handsets.
- Vivo to set up a new manufacturing facility in Uttar Pradesh, investing Rs 4000 cr over a period of four years.
- Adani Enterprises acquires aerospace and defence player Alpha Design Technologies Pvt Ltd for Rs 400 cr in an all-cash deal.
- SREI Equipment Finance to raise up to Rs 300 cr through public issue of secured and unsecured non-convertible debentures.
- DLF defers a planned private placement of 173 mn shares that was part of the company’s fund-raising exercise to become debt-free by March 2019.
- J Kumar Infraprojects bags a Rs 1349 cr order from the National Highways Authority of India.
- Jain Irrigation Systems bags a Rs 584 cr order for an integrated micro irrigation project in Karnataka.
- Techno Electric & Engineering Company’s board approves the buyback of up to 26.82 lakh shares.
- Skipper wins secured fresh orders of over Rs 150 cr for 2,500 towers from various telecom operators.
- Saudi Arabia and RIL are discussing joint investment in petrochemicals and oil refinery projects.
- Ola to invest $100 mn in Vogo, a domestic scooter sharing startup.
- Carlyle Group LP is seeking to double its holding in PNB Housing Finance.
- IHH Healthcare Bhd says its open offer to buy an additional 26% stake in Fortis Healthcare Ltd will not proceed as per the timeline following a court ruling.
Last Updated: 15th December 2018
Next Update On: 31st December 2018
Update Frequency: Once Every Fortnight
