11 May: News Roundup

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Economic Times

📝 Falling rupee to take FY19 trade deficit to 4-year high of 6.4%: Report

📝 PC Jeweller announces share buyback worth Rs 424 crore

📝 Titan posts 40% jump in Q4 profit; announces Rs 3.75 dividend

📝 Mphasis reported 29.6 % growth in net profit to Rs 250.8 crore for the January-March quarter

📝 Sundaram Fasteners aims at growing exports to 50% of its business in 5 years

📝 Government looks to invite US firms for airport development

📝 Relief for Indian solar producers as government reneges on import duty

Business Standard

📝 I-T dept searches Nishant Kanodia over investment in NuPower

📝 PhonePe looks to ride on Walmart to become India's e-payments king

📝 India Inc's April M&A deal tally rises 8-fold to $19 bn: Report

📝 Achieving $100 bn investment in telecom is understatement: Telecom Secy

📝 Walmart-Flipkart deal positive for FDI inflows, says Niti Aayog

📝 Reserve Bank of India adds 2.5 tonnes of gold to forex reserves in Q4

📝 Banks jolted by record fraud to boost insurance sales

Financial Express

📝 Oil prices hit highest in years as markets adjust to looming sanctions on Iran; Brent crude nears $78

📝 CPCL net declines 11.27% in FY18

📝 Nestle India Q1 profit rises 38%

📝 Indian Bank profit dips 59% to Rs 132 cr

📝 As provisions soar, Union Bank posts Rs 2,583-cr loss

Mint

📝 Fortis board approves binding offer from Hero-Burman family offices

📝 Adani Enterprises Q4 profit declines 17% to Rs181 crore

📝 After Flipkart deal, Walmart to open 50 new stores in India in 4-5 years

📝 Reliance Jio launches Rs199 post-paid plan, offers ISD calls at 50p/minute to US, Canada

📝 China’s ZTE halts major operations following US export ban

📝 Zee Entertainment Q4 profit declines 84.8% to Rs231 crore

📝 Rolls-Royce debuts its first SUV, the $325,000 Cullinan.


Business Standard

Ø  Govt considering 100% FDI in insurance intermediaries

Ø  Govt denies approval for Jet Airways-Jet Lite merger

Ø  FinCom sets up experts panel for advise on its ToR

Ø  No queries from RBI on Videocon row: ICICI Bank

Ø  Govt to develop plans for 12 champion services sector

Ø  Mallya can be deemed 'fugitive from justice': UK court

Ø  Lakshwadeep's Rs 7,350 cr bid for Jaypee Infra rejected



Ø  Walmart buys 77 per cent stake in Flipkart for $16 billion

Ø  Airtel said to plan Africa unit IPO in $4.6 billion debt cut

Ø  Modi government to make investment of Rs 30 billion in UP Defence Corridor

Ø  US sanctions on Iran: Energy import bill to hurt India as oil prices zoom

Ø  Federal Bank Q4 net down 43% at Rs 1.45 bn on higher provisions, bad loans

Ø  Fortis board directors urge shareholders to take 'informed decision'

Business Line



Mint

Ø  India to grow at 7.4% in FY’19 : IMF

Ø  Rupee plunges to 67.45 as crude oil zooms past $76/barrel

Ø  Trump's Iran move: India has better bargaining power now

Ø  Ahead of commodity trading, BSE ties up with SLCM

Ø  Jindal Steel and Power Q4 loss widens to Rs. 424 cr

Ø  Wipro seeks stakeholder nod to merge 4 units with itself



Ø  India sees greater risk of crude prices staying high for longer

Ø  India merges anti-dumping, import safeguard bodies

Ø  Emaar to sell hotel, other non-core assets in India

Ø  ArcelorMittal hires BoA to sell European steel assets

Ø  Arvind Ltd’s Q4 profit rises 18.17% to Rs115.47 crore

Ø  BSE to delist over 200 companies from 11 May

Financial Express



Financial Chronicle

Ø  China’s ZTE Corp says main business operations cease due to US ban

Ø  Nestle India to launch breakfast cereals in India

Ø  India’s public cloud revenue to grow 37.5% in 2018: Gartner

Ø  eBay to sell stake in Flipkart for about USD 1.1 billion, to relaunch eBay India



Ø  Economy coming out of DeMo, GST shock: IndRa

Ø  NCLAT asks banks to consider Liberty bid

Ø  DoT to clear Airtel-Telenor deal sans guarantee

Ø  ReNew Power files for Rs 2.6k cr public issue

Ø  External agency to review monthly performance of PSBs