BUSINESS NEWS HEADLINES
Business Standard
TCS Q4 profit rises 4.5%; approves 1:1 bonus issue
WhatsApp leaks case: Sebi scanning Facebook ‘likes’
NCLT rules 2nd round of bids for Essar Steel invalid
Fortis board to form committee to evaluate bids
RIL-BP sanction satellite gas field in KG-D6
Blockchain all set to revolutionise shipping industry
Withdraw up to Rs 2,000 via PoS free of charge: SBI
CCI slaps Rs 215 cr fine on Eveready, Indo National
IMF lauds India for 'right policies' to lower debt, bats for transparency
Oil soars to 3-yr high as Saudi withholds supply, seeking $80-100 a barrel
As part of $4.2-bn global deal, P&G to acquire Merck India for Rs 12.9 bn
HDFC life Q4 PAT up 24% at Rs 11 billion in FY18; total premiums rise 21%
IndusInd Q4 net up 26% at Rs 9.5 bn; divergence seen with RBI on NPA data
Some MPC members doubt if growth would be sustainable: RBI minutes
Mint
Net interest income boosts IndusInd Bank net profit up 27%
Group of shareholders seek removal of 4 directors: Fortis
Godrej Security eyes 20% growth in home safes biz
Metal stocks drive Sensex up 96 points; Tata Steel soars 3.2%, YES Bank 2.83%
Rupee dips to 65.80 on dollar demand, rising crude oil prices
Metal stocks shine as LME aluminium hits near 7-year high
RCom tower, fibre assets sale plan suffers setback
Warburg set to exit Avtec, sell 30% stake to CK Birla Group
No relaxation in new bad loan rules, indicates RBI
‘Government’s fighter jet tenders may be worth Rs1 trillion’
SSG Capital buys 47% stake in Shapoorji Pallonji Finance
RBI minutes: Urjit Patel in favour of more data before changing policy stance
US may reject India’s plea to join China in tariff dispute
NCLT directs Essar Steel lenders to consider Numetal, ArcelorMittal bids
Financial Chronicle
'Jio-fication' propels Mukesh Ambani to World's Greatest Leaders List
Group of Ministers proposes ‘One Nation One Tax’ for commercial vehicles
RBI to recoup forex reserves despite being put on US watch list, says report
India to invest more than 1 billion pound in UK
MSME ministry to hold global SME convention this month
SC allows Sahara to sell properties in Aamby Valley by May 15
FTTL raises 2nd tranche of funds
India leads South Asia in occupational frauds
Defence stocks start rising after Expo boost
Base metals surge on fears of supply disruptions
TOP
NEWS
Banking Sector: In the minutes
of the 10th Monetary Policy Committee (MPC) meeting, RBI Deputy Governor Viral
Acharya has said he is likely to shift decisively to vote for a beginning of
“withdrawal of accommodation” in the next MPC meet on June 5 and 6, 2018. –
Sentimentally Negative as this may indicate tightening bias in RBI’s stance
going forward
Fortis: Fortis Healthcare
approves evaluation of binding offers; will have advisory panel to assess rival
offers on April 25, 2018 – Stock to remain in focus.
JB Chemicals: Company gets
orders from pollution control board directing closure of formulation unit at
Daman – Negative for JB Chemicals
Lasa supergenerics: Company
gets WHO-GMP certificate for unit situated at Mahad – Positive for Lasa.
JSW Steel: As per media
reports, The National Company Law Tribunal (NCLT) has ruled second round
of bids for Essar Steel invalid. Since JSW Steel had submitted its bid along
with Numetal Steel in second round of bidding, the same would be considered
invalid; negative
L&T: Schneider-Temasek may
announce a deal to buy L&T’s electric & automation business …..(Details
in other news)
Eveready: CCI orders to pay
company Rs 171.55 crore in fine for cartelisation of Zinc carbon dry batteries,
negative read-thru
OTHER
NEWS
ICICI Bank: The bank’s board is
looking at the option of reviving the positions of Joint Managing Director /
Deputy Managing Director, who could step into the shoes of the Managing
Director & CEO as and when a vacancy arises. - Neutral read thru. The move becomes
significant post allegations on the top management. Also, recently
some of the investors and board directors have informally have had discussions
over Questions around a succession plan at ICICI Bank
UltraTech Cement: Is
willing to pay Rs7,960 crore for Binani Cement if the tribunal orders
liquidation of the company and would further raise its bid by Rs500 crore if
any other bidder matches its offer of Rs7960 crore for Binani Cement as per
media reports - Negative for Ultratech Cement as any upward revision in
offer would increase its acquisition cost for Binani Cement.
TVS Motor Co: has launched the
electric start version of its moped – XL100 priced at Rs 36,109 – Positive read
thru.
TVS Motor Company, has launched
TVS XL100 Heavy Duty ‘i-Touch Start’ with the electric start technology
‘i-Touch Start’, which has an integrated starter generator system.The mo ped
has a wide platform and is equipped with a detachable rear seat. It also
features striking graphics, attractive LED Daytime Running Lamps (DRL), sports
a vibrant “Heavy Duty” logo with USB charger and is available in Green, Red, T.
Grey, Black, Blue and Copper Shine and Mineral Purple color options. The
moped is priced at Rs 36,109 (Ex showroom Delhi)
L&T:
Schneider-Temasek may announce a deal to buy L&T’s electric &
automation business
As per media
reports, Schneider Electric and Temasek Holdings has resumed negotiations to
acquire Larsen & Toubro’s electrical and automation business. L&T
Electrical & Automation is expected to be valued between Rs 13,000 crore to
Rs 15,000 crore, which is lower than the earlier estimate. L&T has already
identified the electrical &automation unit as non-core to divest it.
Maruti Suzuki: Unveils
refreshed Ertiga MPV at Indonesia Motors show; India launch likely soon;
positive read thru
Suzuki Motor Corp has revealed
the new Suzuki Ertiga at the Indonesia Motor Show. The 2018 Suzuki Ertiga is
underpinned by the same Heartect platform that is also used by the Maruti
Suzuki Swift and Baleno. The new Ertiga has been given a slightly butch
appeal to give it an SUV look but then maintains the utilitarian approach that
retains the MPV in it. The MPV is longer at 4,395 mm, it is 1,735 mm wide,
has 2,740 mm of wheelbase and the height has been dropped at 1,690 mm. The new
Ertiga gets a wider cabin and will get an engine start/stop button, chrome
door handles and a floating roof look. At the back, it gets LED tail lamps and
parking sensors. T he Ertiga sports a new 1.5-litre petrol engine with
output about 104 bhp and 138 Nm, which is a step up from the 1.4-litre K-Series
engine 94 Bhp and 130 Nm outputs on the current Ertiga. Like the petrol
version, the diesel model is also likely to get an all-new engine, this time a
1.5 litre-4 cylinder unit developed in-house by Suzuki.
Idea: Aditya Birla Group plans to sell 15-20% in Idea Payments
Bank, stock to be in focus
As per media reports, Aditya Birla Group will sell a minority
stake of anywhere between 15% and 20% in its Idea Payments Bank to raise about
Rs 200 crore, seeking a valuation of Rs 1,000 crore for the two-month-old
venture. The payments bank, in which group companies Idea Cellular and Aditya
Birla Nuvo own 51% and 49%, respectively, will use the money to expand its
operations.