2 April: News Roundup

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Business Standard

Ø  Core sector growth slows to 4.1% in March

Ø  RBI allows FPIs to invest 20% in short term securities

Ø  NCLAT directs status quo in Electrosteel sale case

Ø  ETMONEY launches CreditLine, forays into lending

Ø  CBI probing loans to Aircel ex-promoter: IDBI Bank

Ø  Hyundai sales up 6% in April at 59,744 units

Ø  New telecom policy sets a target of $100-billion investment by 2020



Ø  L&T to sell electrical and automation business to Schneider for Rs 140 bn

Ø  Air India sale: Centre eases bid conditions, extends deadline to May 31

Ø  Essar lenders to meet ArcelorMittal, Numetal on May 2 to discuss offers

Ø  Maruti Suzuki India April domestic sales up 14.4%; exports up 19.1%

Ø  Govt puts rest to speculation on FDI hike in PSBs, privatisation

Ø  GAIL signs Rs 20 bn loan agreement with SBI to meet capex requirement

Business Line



Mint

Ø  Mahindra & Mahindra sales up 22% at 48,097 units in April

Ø  Oil PSUs freeze fuel prices ahead of Karnataka polls

Ø  GST revenues for April cross Rs 1-lakh crore mark

Ø  M&M to buy up to 10% stake in Canada’s Resson Aerospace Corp

Ø  Fortis gets improved offer from IHH Healthcare at Rs.175/share

Ø  Royal Enfield sales up 26.67% in April at 76,187 units



Ø  GAIL signs Rs2,000 crore loan agreement with SBI

Ø  JSW Infra plans Rs8,800 crore investment in next 3 years

Ø  Kuwait Petroleum eyes 24% stake in Bina refinery: report

Ø  SBI not to hold its annual accounts meeting in Kolkata from this year

Ø  Operational creditors file plea opposing Alok Industries’ liquidation

Ø  Equis looks to sell its power platform in India Hydreq for Rs2,000 crore

Financial Express



Financial Chronicle

Ø  Huge potential for trade between India, southern Africa countries: Suresh Prabhu

Ø  Power gencos for changes in Coal India’s proposed pricing system

Ø  Identify India’s current stage of economic cycle and invest accordingly

Ø  DGAD refuses dumping duty on a chemical from Chinese Taipei, South Korea



Ø  Draft policy envisions lower taxes, universal broadband access

Ø  Market sees Korean peace overtures as long-term positive

Ø  Retrospective amendment to Raj PSC puts Cairn in a spot

Ø  Trump keeps allies guessing on steel tariffs ahead of deadline

Ø  Biofuels to pave way for reducing India’s carbon footprint