Religare Enterprises acquires 14.36% stake in RFL from PE investors

Post the acquisition, RFL has become a wholly-owned subsidiary of the company from February 28, it said in a BSE filing.

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Coal India February production likely to be 66 million tonnes

The world#39;s largest miner had produced 58.05 million tonnes in the corresponding month a year ago.

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GMR Infra to seek shareholders#39; nod for minority stake sale in airport biz

The company will also seek nod for divestment of entire equity stake in GMR Kamalanga Energy Ltd held by GMR Energy Ltd, a subsidiary of the firm.

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Allahabad Bank lowers external benchmark-linked loan pricing

While the RBI#39;s repo rate remains unchanged at 5.15 percent, the three-month MIBOR (Average) has reduced to 5.75 percent from 6.15 percent.

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Reliance Industries picks up 37.7% stake in Alok Industries

Reliance had jointly with JM Financial Asset Reconstruction Co Ltd bid for acquiring Alok Industries that was auctioned under the insolvency and bankruptcy law by lenders to recover their unpaid loans.

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ED attaches Rs 2.6cr worth assets in JK Cricket Association fraud case

Former Jammu and Kashmir Chief Minister and National Conference president Farooq Abdullah has been questioned by the Enforcement Directorate in the case.

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AGR dues | Bharti Airtel pays additional Rs 8,004 cr, claims compliance with SC judgement

The company said it calculated the liabilities on self assessment basis till December 31, 2019 and the payment includes interest up to February 29, 2020.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/agr-dues-|-bharti-airtel-pays-additional-rs-8004-cr-claims-compliancesc-judgement_13539481.html

Managing Money with Moneycontrol | Will absence of tax benefits make small saving schemes less attractive?

Moneycontrol, Sakshi Batra gets in conversation with Amit Singhania, Partner at Shardul Amarchand Mangaldas, to find out more about investors’ small savings schemes.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/managing-moneymoneycontrol-|-will-absencetax-benefits-make-small-saving-schemes-less-attractive_13539381.html

Your insurer just wants to #39;keep in touch#39;

Usage of WhatsApp by insurers is becoming more common in India. But is it necessary?

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Market is in longer duration time wise correction, says Ajay Khandelwal

Earnings surprises and misses have been evenly matched for this quarter. It has been a mixed bag but the big earnings revival seems to be round the corner

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Moneycontrol Pro Weekender: Time to pay the bill?

There is no reason to believe that the worst is behind us.

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#39;Coronavirus a ‘black swan’ event; next support for Nifty placed at 11,100 levels#39;

The Nifty is near the critical support zone of 11,200-11,100 and if it stabilises here then investors should start accumulating good quality stocks while traders can go long in stocks which have relative strength

from Moneycontrol Market Outlook https://www.moneycontrol.com/news/market-outlook/39coronavirus‘black-swan’-event-next-support-for-nifty-placed-at-11100-levels39_13539221.html

Investors lose nearly Rs 10 lakh crore in February; 25 BSE stocks buck trend

The SP BSE Sensex plunged 5.96 percent while the Nifty50 was down 6.21 percent in the month of February making it one of the worst monthly fall since September 2018, data showed.

from Moneycontrol Market Outlook https://ift.tt/2I7rVuw

Sumant Kathpalia, a veteran banker who built IndusInd#39;s consumer business, takes charge

During his decade long stint at IndusInd Bank, Kathpalia is credited for building its consumer banking business and diversifying it to industry beating performance over years

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Union Bank sells stake in NSE for Rs 104cr

"The bank has executed a share purchase agreement for sale of its equity stake of 0.206 percent in National Stock Exchange," it said in a regulatory filing.

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Indian refiners plan to wind down Venezuelan oil buys in April: Sources

Such a step by Reliance, which operates the world#39;s biggest refining complex, and Nayara - part owned by Russian oil major Rosneft - would severely curtail purchases by one of Venezuela#39;s last big export destinations. India accounted for about a third of Venezuela#39;s oil shipments in January.

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Ready for BS-VI supply, prices to go up marginally from April 1: IOC

The largest oil supplier has spent over Rs 17,000 crore to upgrade its refineries to produce the low-sulphur diesel and petrol, the company#39;s chairman Sanjiv Singh told reporters here.

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KIOCL gets green nod to set up coke oven plant

However, the clearance is subject to specific conditions stated in an approval letter and sector specific general conditions as per the Ministry of Environment, Forest and Climate Change#39;s Office Memorandum, KIOCL said in a filing to BSE.

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Sumant Kathpalia, a veteran banker who built IndusInd’s consumer business, takes charge

During his decade long stint at IndusInd Bank, Kathpalia is credited for building its consumer banking business and diversifying it to industry beating performance over years

from Moneycontrol Business News https://www.moneycontrol.com/news/business/sumant-kathpaliaveteran-banker-who-built-indusind’s-consumer-business-takes-charge_13537381.html

Offshore patrol vessel ICGS Varad commissioned: LT

ICGS Varad set a record in Indian shipbuilding industry by becoming the first major defence ship to clear all sea acceptance trials in a single sea sortie, Larsen Toubro (LT) said in a regulatory filing.

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Earnings, economic growth may take 4-6 quarters more to pick up: Emkay Wealth

There is always catching up between markets and earnings, and market often runs ahead of the rise in earnings, markets move on expectations of earnings growth.

from Moneycontrol Market Outlook https://ift.tt/3c8QJ2S

Measures taken by Indian govt will boost economic growth: SBI MD Dinesh Khara

Khara told PTI here that for India to achieve its ambition of becoming a five trillion dollar economy, it required a 10-11 percent growth rate.

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BNP Paribas cuts global growth forecasts by 0.40 ppt amid coronavirus outbreak

While India may not be impacted much at an overall level, we know several sectors have supply chain linkages to China, especially pharma, autos, and electronics, says Abhiram Eleswarapu of BNP Paribas.

from Moneycontrol Market Outlook https://ift.tt/2wVzLF9

Fighting coronavirus | Airlines ask crew to avoid meat, shaking hands; airports install thermal cameras

Airlines and airports have stepped up efforts to limit the virus spread

from Moneycontrol Business News https://www.moneycontrol.com/news/business/fighting-coronavirus-|-airlines-ask-crew-to-avoid-meat-shaking-hands-airports-install-thermal-cameras_13537041.html

Shriram Transport Finance to raise funds via debt securities

"The company is considering raising of funds through various options of borrowings including by way of issue of debt securities in onshore/offshore market by public issue and/or private placement basis and commercial papers," Shriram Transport Finance company said in a filing to BSE.

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RBI flags impact of telecom troubles on banks, inflation: Report

The central bank has conveyed its concern to the government and sought relief for telcos

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NTPC to start commercial operation of 250 mw unit of Barauni Power Station from March 1

In a regulatory filing, NTPC said the 250 megawatt (mw) unit of Barauni Thermal Power Station Stage-II (2 x 250 MW) is declared on commercial operation with effect from March 1, this year.

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Vodafone Idea AGR crisis | DoT draws up contingency plans, evaluates mobile number porting capacity: Report

Officials from the Department of Telecommunications (DoT) have asked India’s two MNP service providers – Syniverse Technologies India and MNP Interconnection Telecom Solutions India – for the number of requests they can process in a day

from Moneycontrol Business News https://www.moneycontrol.com/news/business/vodafone-idea-agr-crisis-|-dot-drawscontingency-plans-evaluates-mobile-number-porting-capacity-report_13536721.html

Bloodbath on D-Street! Sensex plunges 1,000 pts; 5 factors weighing on market

Sectorally, selling pressure was seen in metals, realty, infrastructure, public sector, capital goods, auto, banks, Oil Gas, as well as IT stocks.

from Moneycontrol Market Outlook https://ift.tt/32y3rUx

Jet Airways lenders to seek fresh EoIs

"We wish to inform that the 8th CoC meeting of Jet Airways (India) Ltd was held on February 18 and in the e-voting concluded on February 25, the CoC passed the resolution to issue fresh Invitation of EoI (Round) for the corporate debtor," Jet Airways said in BSE filing.

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IndusInd Bank elevates Sumant Kathpalia as MD CEO

As previously advised to the exchanges, the bank#39;s Nomination and Remuneration Committee and the board had considered and submitted the name of a potential candidate for the role of MD and CEO to the Reserve Bank of India (RBI), seeking approval for the appointment, it said in a release.

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HDFC Bank launches co-branded credit card with IndiGo

Labelled Ka-ching, the card will offer many benefits like complimentary air tickets, lounge access, 5 per cent cashback or reward points on Indigo bookings, and 3 per cent cashback on dining, grocery and entertainment, the companies said.

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Infosys allots 2.23 lakh equity shares under 2015 Stock Incentive Compensation Plan

It further said the issued and subscribed share capital of the company has consequently "increased to Rs 21,29,44,27,185, divided into 4,25,88,85,437 equity shares of Rs 5 each".

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IndiGo panel reduces Kamra ban period to 3 months; he says not regretful

"... I have no comment to offer on IndiGo banning me for 3 months instead of the 6 months now," Kamra said in a Facebook post on Thursday.

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Vistara takes delivery of its first B787-9 Dreamliner aircraft

The plane, which has the registration number VT-TSD, will depart from the Boeing facility here at 2 pm (local time) on Friday and land in Delhi at 2 pm (local time) on Saturday, Vistara officials said here.

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SoftBank’s Rajeev Misra ran campaign to smear rivals

SoftBank’s Rajeev Misra ran campaign to smear rivalsMisra, who oversees the $100-billion technology-focused fund that has backed companies like Uber, WeWork, Oyo and Paytm, is said to have orchestrated efforts that included planting negative news stories and directing a concerted shareholder campaign to oust Nikesh Arora.

from Economic Times https://ift.tt/3c9FM1b

Axis Bank appoints Puneet Sharma as CFO

Sharma replaces Jairam Sridharan, who has resigned as the group executive and CFO of the bank, with effect from the close of business hours on March 5, it said.

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SIAM proposes setting up of South Asian Automotive Forum

The objective of the forum is to further trade and establish a strong automotive industry in South Asia, Society of Indian Automobile Manufacturers Association (SIAM) said in a statement.

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Bitcoin wipes out February gains amid selling pressure

The plunge comes in the backdrop of a slowing global economy that has been crippled by coronavirus, COVID-19, which is slowly turning into a global pandemic.

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NCLAT sets asides insolvency proceedings against Flipkart

A three-member bench of the NCLAT released Flipkart from the corporate insolvency resolution process and directed the Interim Resolution Professional (IRP) appointed by NCLT to handover the records and assets of the company back to its promoter immediately.

from Moneycontrol Business News https://ift.tt/3923NW0

COAI rings alarm bells; asks govt to ease terms for AGR dues#39; payment, cut in licence fee

"Banks are currently unwilling to take any risk with respect to the telecom sector and are constantly asking telecom service providers to reduce their exposures by refusing to issue new bank guarantees or even to renew bank guarantees," COAI Director General, Rajan Mathews said in a letter to Telecom Secretary Anshu Prakash.

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Nifty breaks below 11,600: 5 factors that could be weighing on market

The Nifty50 broke below 11600 levels in intraday trade on Thursday. The index is now trading below its crucial support of 11614 (swing low of Budget Day), as well as 200-Days SMA placed at 11685.

from Moneycontrol Market Outlook https://ift.tt/2HZWoKS

Coronavirus spread is throwing up challenges opportunities for Indian firms: Vinay Pandit

A 10 percent nominal GDP is easily doable; however, earnings growth needs to be on similar lines to capture this economic growth factor.

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DHFL#39;s fixed depositors, bondholders tussle over repayment preference: Report

Since depositors and bondholders form a sizeable chunk, they are represented in the CoC. The RBI-appointed administrator has admitted claims of Rs 86,374 crore from all classes of creditors

from Moneycontrol Business News https://ift.tt/2TiEoAL

Dividend payouts from companies rise manifold ahead of abolition of DDT

According to market participants, the payout is to reduce the tax burden of promoters who will have to pay tax of over 40% from April onwards

from Moneycontrol Business News https://ift.tt/3cd6xBO

Top 5 stocks for FO expiry day that can give double-digit return

A break below 11,614 will see a continuation of the decline in the Nifty, initially towards 11,490 and then 11,340. On the upside, the Nifty needs to cross Wednesday’s high of 11,800.

from Moneycontrol Market Outlook https://ift.tt/2wIWAM3

Aditya Puri denies rumours of differences with Deepak Parekh over successor

The search committee has been told there are strong internal candidates, but they can look for talented external candidates as well, Puri said

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Green shoots? 28 firms in BSE 500 index show signs of turnaround in Q3

Stocks in the BSE 500 index that showed signs of a turnaround include Axis Bank, Bajaj Electricals and BEML

from Moneycontrol Market Outlook https://ift.tt/3aaaJAA

US hedge fund asks Subhash Chandra to exit Zee Learn: Report

Moon Capital Management has asked for a seat on the company’s board citing concerns over group debt, corporate governance and strategy

from Moneycontrol Business News https://ift.tt/32tvbcO

Warbug Pincus to invest Rs 1,080cr in Apollo Tyres

The company#39;s board has approved an issuance of compulsorily convertible preference shares in the company worth Rs 1,080 crore to an affiliate of Warburg Pincus, Apollo Tyres Ltd said in a statement.

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Apple to open first retail store in India next year

Cook said Apple would start selling its products online in India this year and will open its first Apple-branded store there next year.

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