Domestic News
- Government extends the last date for filing income tax returns for assessment year 2018-19 by a month to August 31
- Government may unveil a new policy next month to make India defence manufacturing hub in ten years
- Government increases incentives for exports through online platforms to Rs 5 lakh per consignment from Rs 25,000 earlier for select low-value goods.
- Government plans to auction 12 mineral blocks in the next two months.
- Government plans to sell up to 10% stake each in HUDCO and NBCC as also 3% in NTPC through an offer for sale (OFS), which could fetch about Rs 5900 cr to the exchequer.
- Government gives final approval to the merger of Vodafone and Idea Cellular.
- Prime Minister Narendra Modi unveils 81 investment projects worth over Rs 60000 cr for Uttar Pradesh; also promises that by 2022, the government will provide a roof to all homeless people.
- RBI decides to implement the new process regarding the valuation of state development loans from October.
- RBI backs Rural Electrification Corporation’s proposal to form an Asset Reconstruction Company (ARC) to take over stressed assets in the power sector.
- Securities Appellate Tribunal (SAT) directs the Central Board of Direct Taxes (CBDT) to issue clarification on the collection of securities transaction tax (STT) for the newly-introduced physical settlement of equity derivative trades.
- SoftBank Group Corp to team up with Paytm to launch a digital payments service in Japan.
- PNB Metlife Life Insurance Company files draft prospectus for an IPO.
- PNB Housing Finance gets shareholders’ nod to increase the investment limit of foreign investors to 74% from exiting 24% and also gets approval proposal to borrow money not exceeding Rs 90000 cr at any point of time.
- Mahindra Finance’s board approves raising funds of Rs 10000 cr through retail non-convertible debentures in one or more tranches.
- IL&FS Transportation’s board approves raising Rs 3000 cr through a rights issue.
- Maruti Suzuki net profit rises 27% to Rs 1,975 cr; shares plummet 4%
- Wasatch Advisors increases its stake in V-Mart Retail to 7.04% by buying 3.68 lakh shares in the open market.
- NTPC’s board approves the issue of non-convertible debentures up to Rs 12000 cr.
- Paytm is in talks to raise about $500 mn for a new vertical.
- RIL to raise $2.7 bn from overseas debt market to refinance its existing high-cost debt; also signs an agreement with Sun Petrochemicals to sell its stake in the Cambay Basin-10 block in Gujarat.
- JSW Steel revises its offer for Bhushan Power & Steel to Rs 18000 cr.
- Hindalco's subsidiary Novelis to acquire US firm Aleris for $2.58 bn.
- Blue Star Engineering & Electronics bags an order worth Rs 100 cr from the Uttar Pradesh Medical and Health Services.
- Infosys to invest about Rs 750 cr in the first phase of its upcoming facility in Noida.
- MakeMyTrip (MMT) acquires a stake in Bitla Software for an undisclosed sum.
- NextGen Science Media raises Rs 1 cr from Emerge Ventures, others
- Aurobindo Pharma gets USFDA nod for anti-coagulant injection.
- Lupin facility in MP gets European body’s approval for medicine quality.
Last Updated: 31st July 2018
Next Update On: 15th August 2018
Update Frequency: Once Every Fortnight
