25 May: News Roundup

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Business Standard

Ø  GDP to grow at 7.5% in FY19; CAD, Re a worry: Report

Ø  Non-life insurers gross premium up 14% at Rs 13,881 crore in April

Ø  Jet Airways' debt may rise in short term: Amit Agarwal

Ø  Reliance JioPhone tops global feature phone market in Q1: Report

Ø  DoT clears Rs 4,000 cr Idea-ATC mobile tower sale deal

Ø  Sensex rallies 318 pts, Nifty ends at 10,514



Ø  GAIL India March quarter net profit posts four-fold jump to Rs 10.21 bn

Ø  ONGC falls 10% in two days; loses market cap worth Rs 223 billion

Ø  Wipro Consumer Care seeks to capture Rs 4-billion liquid dish wash market

Ø  Jute industry suffers Rs 28 bn loss on stagnating production of goods: IJMA

Ø  Welspun Enterprises up for 11th straight trading day post Q4 results

Business Line



Mint

Ø  TNPCB orders immediate closure of Sterlite plant at Thoothukudi

Ø  Corporate debtors must get shareholders’ approval to initiate insolvency process

Ø  Customs duty hike, weak rupee may stop wheat imports

Ø  City Union Bank posts 18% rise in net profit at ₹ 152.12 cr

Ø  NCC Ltd standalone net up 61% at Rs 103 cr in Q4

Ø  PE investments in retail sector touch Rs 5,500 cr since 2015: JLL



Ø  Manipal-TPG extends validity of its revised offer for Fortis

Ø  Minda Corp, Neuland Labs, Simplex Infra raise Rs838 crore through QIPs

Ø  ReNew Power in talks to buy 700MW of assets

Ø  Government favours long-term solution on fuel prices

Ø  Govt seeks $3.8 billion from RIL, ONGC, Shell

Ø  Bank credit grows at 12.64%, deposits at 7.61%

Ø  United Spirits posts Q4 net profit at Rs211 crore

Financial Express



Financial Chronicle

Ø  Bank unions call for two-day nationwide strike from May 30

Ø  Rs 13000 crore tenders withdrawn or cancelled to promote Make in India products

Ø  PSU banks reforms: Government appoints non-executive chairpersons at 3 state-run banks

Ø  NCLAT asks Bhushan Power & Steel lenders to go ahead with selection of bids



Ø  Damani sells 1% in D-Mart, pockets a cool Rs 800 crore

Ø  Govt mulls windfall cess on upstream oil firms

Ø  Notable reforms in telecom but financial health down