24 May 2018

24 May: News Roundup

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Business Standard

Ø  Govt won't allow any bank to fail: FinMin Secy

Ø  Direct tax collection rises 18% to Rs 10.03L cr in FY18

Ø  DoT includes tower cos in right of way rules

Ø  India takes US steel tariffs complaint to the WTO

Ø  Over 2,100 companies settle Rs 83,000 cr dues

Ø  Tata Motors Q4 profit halves YoY to Rs 2,176 crore

Ø  Trai asks telcos to put all tariffs online from June 30

Ø  Cabinet approves ordinance to give homebuyers creditor status under IBC

Ø  Tata Steel's Bhushan buy to raise net leverage over next 2-3 years: Fitch

Ø  Jet Airways posts 4th-quarter loss due to higher fuel costs

Ø  Cabinet approves restructuring of Scooters India B/S

Ø  OMCs under pressure; IOC hits 52-week low; HPCL, BPCL down 6%

Business Line


Ø  Cabinet clears amendments to bankruptcy code

Ø  Walmart India, Flipkart top executives meet CCI; apprise business activities

Ø  GVK Power Q4 profit at Rs 23 cr on standalone basis

Ø  Binani Cement’s resolution professional postpones lenders’ meet

Ø  NLC, NMDC to sign MoU with Australian firm for steel production

Ø  TCS expands operations in Florida as part of Transamerica deal

Ø  Yes Bank recovers 66% of original claim filed for Bhushan Steel

Ø  Motherson Sumi Q4 profit up 7.32%, dividend of Rs2.25 per share declared

Ø  Grasim to invest Rs13,000 crore in textile, cement business

Ø  Vedanta Resources operating profit up 27% to $4.1 billion in FY’18

Ø  Suzlon in talks to sell 300 MW of wind power assets

Financial Express

Financial Chronicle

Ø  Violent protests: Madras High Court stays Sterlite smelter expansion

Ø  Telcos add 70 m subscribers in Jan-Mar

Ø  Binani RP postpones creditors’ meet

Ø  ABG Shipyard receives new resolution plan

Ø  UTI is not a PSU, and it has to be Sebi-compliant

Ø  Risks of servicing Basel II debt up for some PSBs: Icra

Ø  4,072 telecom towers to be set up in Naxal-hit areas for Rs 7,330 crore

Ø   CBIC aims to dispose pending cases by June

Ø  Record oil prices: Relief eludes as govt looks oblivious to hardships

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