EOD Update 08-03-2019

Mukesh Ambani is set to launch his e-commerce website before Diwali promising huge discounts

Provision of additional funds for sugar milles approved

Cabinet Meet Outcome | NHPC to take over Teesta hydro project of Lanco

Cabinet Meet Outcome | Investment by NHPC in Chenab Valley Power Project approved

Cabinet Meet Outcome | SJVN’s Buxar thermal power project approved

FM Arun Jaitley: Cabinet approves GoM recommendations for thermal power projects.

Cabinet Meet Outcome | Alternate mechanism for divestment of PSUs approved

Cabinet Meet Outcome | Rs 600 cr sop for standalone molasses-based distilleries approved

Cabinet Meet Outcome | Rs 54,770 cr approved for Mumbai Phase 3 Urban Transportation project

Cabinet Meet Outcome | Approved phase 4 of Delhi Metro rail project

Cabinet Meet Outcome | 3 new corridors for Delhi Metro for Rs 24,900 cr approved

Cabinet Meet Outcome | NITI Aayog paper on transformative mobility and battery storage approved

Power Grid announces an interim dividend of Rs 5.83/Sh, to be paid on March 22

Cabinet Meet Outcome | Approved Rs 2,790 cr interest sop to increase sugar cos’ ethanol output

Cabinet Meet Outcome | Recognition of large hydro projects as renewable energy approved

Cabinet Meet Outcome | Approved scheme for rebate on embedded taxes for textile sector

Singtel will infuse Rs 3,750 cr in Airtel Presence by subscribing to the proposed Rs 25,000 cr rights issued by the company

Pennar Industries bags multiple orders aggregating Rs 187 cr and Pennar Engineered Building Rs 115 cr

Jindal Stainless gets Odisha Govt nod for industrial estate in Kalinga Nagar: PTI

CARE cuts rating on Dewan Housing Finance Corp’s NCD to AA-

KNR Constructions gets order worth Rs 135 cr in Karnataka

TataMotors Jaguar retail sales at 12,235 units, up 5.8% (YoY)

TataMotors Land Rover retail sales at 26,053 unit, down 8.1% (YoY)

Infosys: Gets contract from Rolls Royce for digital, engg services

Premji Trust to sell up to 0.44% in Wipro at Rs 255.40–260.78/share; price band for stake sale at 3-5% discount to March 7 share price of Rs 268.85

RBI to offer Interest Subvention Scheme for Short Term Crop Loans up to Rs 3 lakh during the years 2018-19 & 2019-20

Cabinet To Give Extra Rs 3,300 Crore To Help Sugar Mills: Arun Jaitley

The diversion of sugarcane for ethanol production will help cut sugar output, which in turn, will improve financial health of sugar mills that have been saddled with losses.

Cabinet Approves Plan To Revive Stressed Thermal Plants

While the Bihar power plant would cost Rs 10,439 crore ($1.49 billion), the one in Uttar Pradesh would be built with an investment of Rs 11,089 crore.

India Wants To Keep Iran Oil Purchases At 3,00,000 Barrels/Day: Report

India has reduced its purchases of Iranian oil but has been in talks on extending its sanctions waiver, a senior official said in January.

ArcelorMittal announces pricing of $750 million bond issue
The proceeds amounting to $745 million, will be applied towards repayment of existing debt.

Private companies to pay Rs 20 for each Aadhaar-based verification, govt entities exempted

Granules India expects to reduce pledge to nil within 2 years. Comapny does not see any capital expenditure for next 3 years. Money was borrowed to infuse capital in the company

L&T Finance raises Rs 2228cr in public issue of bonds
The company raised a total of Rs 2,228.06 crore worth of subscriptions which is 4.45 times of the base issue size (Rs 500 crore).

VA Tech Wabag bags Rs 575 crore Kolkata order
Wabag will build the sewage treatment plants over 24 months and maintain them over 15 years

Govt Sources To Cogencis: Govt May Sell Part Of L&T Stake Under SUUTI Via Block Deal

Jet Airways Planes To Be Redeployed If No Restructure Agreed This Month

The grounding of nearly one-quarter of the airline’s fleet has led to the cancellation of hundreds of flights and complaints from customers on social media.

Jhunjhunwala still in race to acquire Star Health Insurance: Report
Jhunjhunwala is believed to be looking to buy 35 per cent stake in the insurer.

Jubilant Life Sciences dips 5% after USFDA issues warning letter for Roorkee facility. US revenues from the facility is about 4 percent of the total revenues of the company.

AMFI FEB DATA: Net outflow of Rs 20,083 cr vs inflow of Rs 65,439 cr MoM

SIP flows above Rs 8,000 cr for 3rd consecutive month. February numbers come in 0.4% higher month-on-month

AMFI FEB DATA: Net outflow of Rs 20,083 cr vs inflow of Rs 65,439 cr MoM. This is the fourth month when the equity inflow is on a declining streak

Enforcement Directorate Investigating Philip Morris, Godfrey Phillips: Report

Philip Morris has for years paid manufacturing costs to Godfrey Phillips to make its Marlboro cigarettes, circumventing a nine-year-old government ban on foreign direct investment in the industry.

Reliance Plans Major Expansion Of Fashion Store Business: Report

The expansion plan should allow Reliance Trends, which sells accessories as well as clothing, to rapidly grow its private labels – the retailer’s own brands – the sources said.

Japan’s annualised GDP growth for the October-December period comes in at 1.9% Vs a Reuters poll of 1.8% growth.

Court Approves ArcelorMittal’s Rs 45,000 Crore Essar Steel Takeover Plan

NCLT on Friday approved AreclorMittal’s Rs 45,000 crore resolution plan for the insolvent Essar Steel.

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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