7 May: News Roundup

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Business Standard

Ø  India's ecomm M&A deals touch $2.1 bn in 2017

Ø  Welspun Corp to fully retire debt by March next year

Ø  PNB aims to grow biz by around 11% in current fiscal

Ø  Jaypee's customers write to IRP to protect home buyers

Ø  Manipal-TPG revises offer for Fortis Healthcare

Ø  NCLT suggests IBBI review insolvency code regulations

Ø  Indians among favoured migrants in UK: Survey



Ø  No bias in RBI-led MPC to raise interest rates: Economic Affairs Secretary

Ø  Underpayment of GST by about 34%, firms get scrutiny notices for mismatch

Ø  Telecom: Govt's 4-yr investment estimate of $100 bn conservative, says COAI

Ø  Rs 6.21-bn UCO Bank fraud: ED files case under PMLA

Ø  DoT, not Commerce Ministry, to decide on Idea's 100% FDI proposal: Prabhu

Ø  Nifty is once again trading at 2% premium to 5-year average P/E multiple

Business Line



Mint

Ø  Lenders may set up AMCs to deal with stressed power assets

Ø  Time ripe to cut excise duty on petrol, diesel

Ø  Mercator to use arbitral win to counter CBI charge-sheet

Ø  ICICI board meet may take up allegations against CEO

Ø  Nine in the fray for RBI Deputy Governor’s post

Ø  Unions reject IBA offer for 2% wage hike, threaten strike



Ø  Aurobindo launches $1.6 billion bid to buy Novartis generics unit

Ø  RBI to buy up to Rs10K cr of government bonds on 17 May

Ø  Big wilful defaulters owe PNB Rs15,172 crore

Ø  JSW defers plans to tap PE fund for ports expansion

Ø  HC verdict in Vodafone tax case on Monday

Ø  SoftBank weighs options to cut tax liability in Flipkart stake sale

Financial Express



Financial Chronicle

Ø  NITI Aayog seeks World Bank’s help to prevent fraud in AB-NHPM

Ø  Cybersecurity risks to get worse, says Warren Buffett

Ø  PNB fraud: ED refuses to share details of Nirav Modi & Mehul Choksi’s seized assets

Ø  Four of top-10 most valued companies add Rs 39,603 cr in m-cap



Ø  US protectionism spree altering global trade order

Ø  Valuations of retail banks, NBFCs are stretched

Ø  Traders offload holdings tracking weak leads in the spot markets

Ø  Govt pressures PSUs to cough up 30-100% PAT as dividend

Ø  FinMin wants RBI to relax 1-day NPA norm for power cos