EOD update 10-04-2019


Direct tax mop-up may fall short of Rs 50,000 crore in FY19: Official

Bajaj Consumer Standalone March 2019 Net Sales at Rs 245.66 crore, up 10.85% Y-o-Y

Indian Economy To Grow 7.3% In 2019: IMF

In 2019, the International Monetary Fund (IMF) projected a growth rate of 6.3 per cent for China and 6.1 per cent in 2020

Oil Prices Hit Five-Month High Above $71 On Libyan Supply Threat

Russia, a participant in the OPEC-led supply cuts that currently expire in June, signalled on Monday it wanted to raise output when it meets with OPEC because of falling stockpiles.

IMF Cuts Global Growth Outlook Amid Trade Tensions, Brexit Worries

The global economy will likely grow 3.3 per cent this year, its slowest expansion since 2016, the IMF said in a forecast that cut 0.2 percentage point from its January outlook.

Ford May End Independent India Business With New Mahindra Deal: Report

Under the terms of the deal being negotiated, Ford will form a new unit in India in which it will hold a 49 per cent stake, while India’s Mahindra will own 51 per cent

Tribunal May Ask ArcelorMittal To Pay Rs 42,000 Crore In Separate Account

ArcelorMittal’s resolution proposal for Essar Steel provides financial creditors Rs 41,987 crore out of their total dues of Rs 49,395 crore.

L&T Finance NCD attracts Rs 3,238 crore

Jet Airways Lessors Approach DGCA To De-Register 18 Aircraft: Report

On Monday, lenders of Jet Airways invited EoI for stake sale in the company to recover their dues worth Rs 8,000 crore.

Government Meets Fiscal Deficit Target Of 3.4% For 2018-19

The interim Budget presented in February revised upward the fiscal deficit target to 3.4 per cent from 3.3 per cent of GDP estimated earlier for 2018-19.

Vodafone Idea’s Rs 25,000 crore rights issue opens Wed

Bajaj Energy files papers for Rs 5,450 crore IPO

Group update

Economic Times

Ø Government meets FY19 fiscal deficit goal of 3.4%
Ø India to grow at 7.3% in 2019 and 7.5% in 2020: IMF
Ø Tatas take over Usha Martin’s steel business
Ø Current economic atmosphere ‘a delicate moment’: IMF
Ø PSEs to stay PSUs even with below 51% govt stake
Ø BSNL collects record Rs 6,500 crore in revenue
Ø SBI reduces MCLR, home loan rates from April 10

Business Standard

Ø Direct tax collection may fall short of Rs 50,000 cr in FY’19: Official
Ø US criticises India’s data localisation norms, draft e-commerce policy
Ø Trump warns EU of $11-bn tariffs over its subsidies to Boeing rival Airbus
Ø NCLAT may ask Arcelor to deposit Essar bid amount of Rs 42,000 cr on Apr 23
Ø New hydropower policy could be last chance for revival of neglected sector

Business Line

Ø CAI trims cotton crop size to 321 lakh bales, lowest since 2009-10
Ø I-T Dept looking at IBC resolution cases for possible tax violations
Ø Ramco Systems bags new order in Australia, New Zealand
Ø Mahindra & Mahindra eyes 50% of tractor revenues from overseas
Ø Opto Circuits enters into one time settlement with Yes Bank

Mint

Ø Power producers outstanding dues on discoms spike 20% to nearly ₹41K cr in Jan
Ø Vodafone Idea expects Indus Tower stake sale in 3-4 months for ₹5500 crore
Ø Polycab ₹1346 crore IPO subscribed over 50 times on last day
Ø Panacea Biotec’s lenders approve one-time settlement of outstanding dues
Ø Standard Chartered to pay $1.1 billion for sanctions violations

Financial Express

Ø Fitch affirms ‘BBB-‘ rating to Exim Bank, stable outlook
Ø ‘No deal’ Brexit risks severe economic shock, IMF warns
Ø India highest recipient of remittances at USD 79 billion in 2018: World Bank
Ø India probes dumping of ‘aluminium, zinc coated flat products’ from China, Vietnam, Korea

Deccan Chronicle

Ø Gold falls Rs 235 on muted demand
Ø Overhauled oil policy to apply from 4th bid round: DGH
Ø Rupee snaps 3-day losing streak; rises 37 paise to 69.30 vs USD
Ø Ford may merge India biz in new Mahindra JV

RBI gives 12 years to LIC for reducing stake in IDBI Bank

TCS shares fall as firm looks to settle US discrimination suits

Vodafone Idea Rs 25,000 crore rights issue kicks off; shares up 1%
As per a PTI report, the fundraising is one of the largest by any company in the country.

Praj Industries Surges On Signing Agreement With US-Based Gevo

Praj will provide Engineering Procurement and Construction (EPC) services to third parties using a process design package developed by Praj.

Telangana CM prima facie violated model code by making communal remarks: EC
The model code came into force on March 10 when the schedule for the seven-phased Lok Sabha elections was announced.

Govt retains PF interest rate at 8% for April-June quarter
The interest rate on GPF was at 8 per cent in the January-March quarter of 2018-19.

Vikesh Kumaar Kataria

Experienced Founder of Brokers Bazaar with a demonstrated history of working in Skilled in RMS from various big corporate giants, Analytical Skills, Banking, Entrepreneurship, Digitalisation and Equities with Strong entrepreneurship professionalism. Experienced Co-Founder with a demonstrated history of working in the logistics and supply chain industry.

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