Domestic News
- Government proposes the merger of Bank of Baroda, Vijaya Bank and Dena Bank.
- Government exempts interest payment on debt raised through offshore rupee denominated bonds from tax, in an attempt to improve capital inflow and help the domestic currency strengthen against the US dollar.
- Government to further extend the deadline for the imposition of higher customs duties on 29 products, including almond, walnut and pulses, imported from the US.
- Government announces a series of measures including curbing non-essential imports and incentivizing exports.
- Government is preparing a Rs 1 lakh cr plan to set up mega national employment zones across the country.
- Government to soon initiate the strategic sale process for four subsidiaries of Air India.
- Government may take certain policy measures to curb high gold imports instead of raising customs duty on the precious metal.
- Government to soon initiate "data analysis" to weed out dummy holders of director identification numbers after just over 1.2 mn individuals complied with the KYC requirements within the stipulated deadline.
- The Cabinet allows gradual entry of private firms in procurement of foodgrains and sanctions Rs 31603 cr for two schemes to ensure farmers are able to sell their produce at the minimum support price (MSP).
- The Cabinet approves a Rs 12134 cr plan to complete the electrification of the country’s railway network by FY22.
- The Cabinet clears policy to promote enhanced and improved recovery of oil and gas from existing fields.
- India’s retail inflation cooled to an 11-month low of 3.69% in August from 4.17% in July; inflation was 3.28% in the same month last year.
- India’s industrial production grew at 6.6% in July; the IIP growth for June was revised downwards to 6.9%.
- India’s exports grew 19.21% to $27.84 bn in August while imports rose 25.4% in August to $45.24 bn resulting in a trade deficit of $17.4 bn, lower than $18.02 bn in July.
- India defers the imposition of retaliatory tariffs on some US imports, signaling its readiness to find a solution to avert a trade war.
- India imposes an anti-dumping duty of up to $719 per tonne for five years on import of nylon filament yarn from the European Union (EU) and Vietnam.
- India’s forex reserves fell $820 mn in the week to September 7 to $399.28 bn.
- Finance Ministry reinstates the safeguard duty on imported solar modules.
- Finance Minister Arun Jaitley says that investment, rather than subsidies, would make the country's agricultural sector self-sufficient since a model that relies indefinitely on subsidies can't be sustainable in the long run.
- Central Board of Indirect Taxes and Custom (CBIC) eases the norms for re-importing electronic goods for repair work.
- According to SEBI data, capital put in by alternative investment funds (AIFs) has risen to nearly Rs 75,000 cr at the end of the April-June quarter of the current fiscal year, a surge of 90% from the year-ago period.
- According to SEBI data, total assets under management of portfolio managers stood at Rs 14.79 lakh cr at the end of August, compared with Rs 13.24 lakh cr in August-end last year.
- SEBI may approve trading in commodities derivatives segment by foreign entities.
- SEBI revises the regulations for share buyback to provide more clarity on the requirement to make public announcements.
- SEBI says credit rating agencies (CRAs) should not carry out any activity other than the rating of securities offered through public or rights issues.
- SEBI caps the total expense ratio (TER) for fund houses with equity assets of Rs 50000 cr to 1.05% down from as much as 1.75% charged earlier.
- SEBI approves a slew of proposals, including revised framework for settlement of cases and new KYC norms for foreign portfolio investors.
- SEBI puts on hold the plan to extend trading hours for equity markets.
- Adani Capital to raise Rs 1000 cr in FY19, mostly through bank loans.
- Cholamandalam Investment and Finance Company secures over Rs 1000 cr funding from Asian Development Bank by issuing bonds to the multi-lateral funding agency.
- Motilal Oswal Real Estate raises Rs 575 cr for its fourth realty fund.
- Ola raises $50 mn from new Chinese investors at $4.3 bn valuation.
- Godrej Consumer’s board committee approves allotment of one bonus equity share for every two equity shares held by company shareholders.
- HCL Technologies’ Rs 4000 cr buyback offer opens on September 18 and will close on October 3.
- Infosys to buy Fluido for 65 mn euros, increase presence in Nordics region.
- Flipkart is in talks to buy a stake in Star India's video streaming service Hotstar.
- BPCL shelves its IPO plans for Bina Refinery.
- Bank of India looks to raise about Rs 1000 cr through selling stake in some of its non-core assets and real estate properties.
- Yes Bank to raise up to Rs 3042 cr by issuing bonds to comply with Basel-III norms.
- Punjab National Bank puts 21 non-performing accounts on sale to recover over Rs 1320 cr.
- SBI triples its target for purchase of loan portfolio from non-banking financial companies (NBFCs) and is looking for opportunities both in priority and non-priority sectors.
- Bandhan Bank drops out of the race to acquire PNB Housing Finance.
- Docprime.com receives an initial internal funding of $50 mn from the parent company.
- HCC files draft letter of offer with SEBI for a rights issue of up to Rs 500 cr.
- Gaja Capital puts its preschool chains EuroKids, Kangaroo Kids and Billabong High on the block.
- Garden Reach Shipbuilders and Engineers fixes the price band of its IPO at Rs 115-118 per share.
- Shri Bajrang Power and Ispat files draft papers with Sebi to raise Rs 500 crore through an IPO.
- BHEL bags four orders worth Rs 2900 cr for supply of emission control equipments from NTPC.
- ONGC plans to buy 27 drilling rigs to replace nearly half of its ageing onland rigs for Rs 3000-3500 cr.
- Essar Power announces the completion of its Rs 8000 cr capex programme for its Mahan power plant project with a commissioning of the plant's second 600 MW unit.
- Malabar Gold and Diamonds is looking to invest Rs 7000 cr to triple its retail footprint to reach 750 outlets.
- Jindal Stainless Steel to invest about Rs 300 cr in expanding the capacity at its factories in Haryana and Odisha.
- Bharat Dynamics gets orders worth about Rs 200 cr from the Defence Research Development Organisation. .
- MTNL seeks government’s permission for preferential capital issuance of Rs 6292 cr to launch 4G services.
- NLC India’s board approves a proposal to buy back 14.19 cr shares at Rs 88 a share.Usha Martin to seek shareholders' approval on November 10 with regard to the sale of its steel business to Tata Steel.
Last Updated: 15th October 2018
Next Update On: 31st October 2018
Update Frequency: Once Every Fortnight
