EOD Update 28-02-2019

April-January Fiscal Deficit at Rs 7.7 lakh cr

Apr-Jan fiscal gap Rs 7.708 lakh cr vs Rs 6.766 lakh cr (YoY); 121.5% of Rs 6.344 lakh cr FY19 target.

Apr-Jan receipts Rs 12.307 lakh cr vs 11.634 lakh cr (YoY)

January fiscal gap Rs 6,940 cr against Rs 5,560 cr (YoY)

CRISIL downgrades United Bank Of India’s tier-ii bonds ratings to A+ from AA-

MCX recommends PS Reddy as MD & CEO (for 5 years) to SEBI for seeking its approval

Finance Minister – Indian Banks’ Gross Bad Loans Reduced By Rs 31,000 Cr PSU Banks Have Recovered Rs 98,000 Cr During April-Dec 2018

Sugar stocks sweeten as Iran to buy raw sugar for first time in 5 years

Quick Heal rises 10% as board to consider buyback on March 5
A board meeting of the company is scheduled on March 5, 2019, to consider a proposal for buyback of the fully paid up equity shares of the company.

Finance Minister Launces 1st EASE Index Report On Bank Reforms

New CBDT boss asks I-T department to maximise revenue collection, get more taxpayers

State discoms report losses of over Rs 15,000 crore in first half of FY19
The UDAY scheme has come under a cloud as there is stagnation in the improvement of various operational parameters.

State-Run Banks Recover Rs 98,000 Crore In April-December

Banking Secretary Rajeev Kumar said PSU banks have recovered Rs 2.87 lakh crore since 2015.

Promise of world’s cheapest wind power faces delays in India
Wind projects have been delayed by problems obtaining land to build the projects and gaining access to the power grid.

Future Group to bring iconic 7-Eleven convenience stores to India
The first 7-Eleven convenience store in India, marking the company’s entry into the country, is expected to open in 2019.

You Don’t Get Away By Not Paying Back Loans To Banks: Arun Jaitley

Arun Jaitley said that reforms in the banking sector are necessary to make public sector banks compete with private banks.

Credit Suisse downgrades Wipro to Underperform from Neutral rating

Top Court Allows Delhi Police To Take Custody Of Amrapali’s Anil Sharma

Now, the Delhi Police has been allowed to arrest and interrogate them in a separate case of cheating lodged with its EoW wing.

L&T Finance raising Rs 1,500-cr via NCDs to diversify source of funds: Dinanath Dubhashi
The amount we are raising is less than 2% of our balance sheet, says Dubhashi.

Abu Dhabi Investment commits $500 million for Kotak’s AIF
The Kotak Special Situations Fund is structured as an Alternative Investment Fund under SEBI regulations.

Break-Up Plans Not Contingent On Tata Steel Deal: Thyssenkrupp

Thyssenkrupp is planning to break itself apart in addition to combining its European steel operations together with those of Tata Steel.

Nitin Gadkari to lay foundation stone for Rs 3,580 cr project to decongest Delhi

GDP Growth Slips To 6.6% In October-December, Here’s What Experts Say

The government also revised its 2018-19 GDP growth estimate to 7 per cent from 7.2 per cent

Bharti Airtel Board Approves Plan To Raise Rs 32,000 Crore

The board, in its meeting during the day, approved a proposal to raise Rs 25,000 crore through rights issue

Government Plans More PSU Bank Mergers: Report

After April 1, the number of state-run lenders will come down from 21 to 18 following the amalgamation of three banks.

Drugs Regulator Finds No Asbestos In Johnson & Johnson Talc: Report

The regulator and its counterparts in states launched an investigation into J&J’s Baby Powder following a Reuters report in December

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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