Commerce Minister Nirmala Sitharaman says all the two lakh ATMs in the country will be functional soon.
Prabhu says the government may now step up spending in the Budget to spur demand.
Prabhu says government needs to continue filling in the gaps in spending.
HCC chairman Gulabchand says private investment is not picking up due to a host of reasons including over-capacity and high-leverage.
Gita Goinath says the newly appointed MPC has brought India's policy setting procedure to international level.
IDBI BANK
Mint Reports:
Steps up sale of non core assets
Seeks to offload 5% in CCIL to strengthen its weak capital base
Aiming to garner Rs 5,000 Cr through such sales
In June, the Bank sold 2.5% stake in CCIL
ABG SHIPYARD
Agrees to go ahead with insolvency proceedings
JAYPEE INFRA
Business Standard Reports:
NCLT gave Jaypee Infratech time till 4 Aug
To respond to a petition of insolvency filed by IDBI Bank
Company owes Rs 4000 Cr to IDBI, total dues to all banks are Rs 9,365 Cr
COAL INDIA
Business Standard Reports:
NCLT has stayed rulings by the Competition Commission Of India
Coal India had abused it's dominant position
In framing fuel supply agreements with Gujarat Heavy Chemicals and MP Power Generating Company
JSW CEMENT
Plans to double output in 3 years
Indigo
Economic Times Reports:
Promoters plan stake sale to meet norms
Indigo is planning an institutional share sale
The sale aims at cutting its owners stake to achieve min public shareholding of 25%
The company must sell 10.85% stake worth Rs 4900 Cr
BAJAJ AUTO
Economic Times Reports: May join KTM in race to buy Ducati
Bajaj owns 48% stake in KTM
KTM is said to be closing on the European brand
ONGC- HPCL UNION
FM to head panel for ‘Quick Decisions’ on ONGC- HPCL Union
Nitin Gadkari, Dharmendra Pradhan to assist Jaitley in taking calls on timing and pricing of deal
ICICI BANK
Financial Express Reports:
Opposes Ramasarup insolvency petition at NCLT
First time a bank opposes a defaulters initiation to insolvency
ICICI Bank exposure stands at Rs 70 Cr
V- MART
GMO buys 2.9 Lk shares of V-Mart Retail at Rs 1,143 Per Share
Fidelity sells 4.4 Lk shares
BYKE HOSPITALITY
Wasatch buys 6 Lk shares of Byke Hospitality at Rs 190 Per Share
Wasatch already owns over 17 Lk shares in the company
GRAPHITE INDIA
Morgan Stanley buys 12 Lk shares of Graphite India at Rs 196.4 Per Share
FOOTWEAR STOCKS IN FOCUS
Economic Times Reports:
Rs 2600 Cr incentive package for leather sector likely soon
Incentive package to boost exports and job creation
Package has already been approved by the expenditure finance committee
RALLIS INDIA LTD
Monetises investment in Advinus for Rs 17.3 Cr
WELSPUN CORP
Bags order for supply of 1 Lk MT Pipes
Current order book crosses 699K MTs Pipes
Order book worth Rs 4200 Cr
BHARTI AIRTEL
Allegations made by RJio regarding Airtel Earning Excess Revenue is false
Industry cost for bill & keep regime with Zero Mobile Terminated Charge (MTC) will be Rs 15-20,000 Cr
Zero MTC will allow Jio to price services in a predatory manner
Jio wants Zero MTC for transferring cost to Airtel and other operators
TRAI's MTC of 14 Paise is below current cost of 35 Paise per minute
Airtel looses Rs 550 Cr Per Quarter due to under pricing of MTC
BALAJI TELEFILMS
To issue 2.52 Cr shares to RIL for Rs 413 Cr at Rs 164/Share
Deal values Balaji Tele at Rs 1600 cr
RIL picks up 24.9% stake in the Co
JP ASSOCIATES
Rakesh Jhunjhunwala Picks Up 1.03% Stake In Jaiprakash Associates in Q1
Jaiprakash Associates up 178% in 2017
STERLITE TECH/ HFCL/ AKSH OPTIFIBRE
Telecom Officials: Expect to award work for BharatNet Phase II by October-End
State-Run, Private Players expected to bid for BharatNet Phase II
JET AIRWAYS
Sources To Reuters: To cut pay of junior pilots by 30-50% from Aug 1
Jet has asked junior pilots to take 30% cut in their salaries or leave the organization
Jet is facing pressure on profitability
Pilots will be offered 10 days leave and will be paid for only 20 days in a month
MAHINDRA CIE: Q1FY18 REVIEW (YOY)
Sales up 12.2% at Rs.503 Cr Vs 448 Cr
EBITDA up 4% at Rs46.6 Cr Vs Rs 44.7 Cr
EBITDA Margins down 70bps at 9.2% Vs 9.9%
Net Profit up by 54% at Rs 17 Cr Vs Rs 11 Cr
ZENSAR TECH: CONSOL REVIEW Q1FY18
Sales up 5% at 756.91 Cr Vs Rs 720.51 Cr QoQ
EBITDA up 166% at Rs 95.04 Cr Vs Rs 35.71 Cr QoQ
EBITDA margins at 12.5% Vs 5% QoQ
Net Profit up 348% at Rs 48.08 Cr Vs Rs 10.73 Cr QoQ
RBL BANK: Q1FY18 REVIEW(YOY)
Net Profit up 44.87% at Rs.141 Cr Vs Rs.97.34 Cr
NII up 54.66% at Rs.378 Cr Vs Rs.244 Cr
GNPA Ratio at 1.46% vs 1.2% QoQ
NNPA Ratio at 0.81% Vs 0.64 % QoQ
CUPID LTD: Q1FY18 RESULTS REVIEW (YOY)
Revenue up by 21% at Rs 19 Cr Vs Rs 16 Cr
EBIDTA up by 13% at Rs. 6.58 Cr Vs Rs.6.41 Cr
EBIDTA Margin down by 700 bps at 33.5% Vs 40%
Net Profit up by 12.86% at Rs 4.3 Cr Vs Rs 3.8 Cr
@BTVI