India : Business News Headlines – 24 Aug 2016
Thu Aug 25 2016
Ramesh Sridharan (870 articles)

India : Business News Headlines – 24 Aug 2016

Business Standard
Ø  Reliance permitted to mortgage Sasan coal block
Ø  Ind-Ra upticks GDP forecast to 7.8%; growth on but not speedy
Ø  Smuggled gold at 1/3rd of India’s total demand; $1 bn revenue lost
Ø  Govt mulls banning cash transactions above Rs 3 lakh
Ø  Idea denies report on merger talks with Vodafone
Ø  India in talks with Singapore to amend DTAA provisions: CBDT
Ø  Debt mkt can beat equity in next 12 mths: CLSA
Ø  Arun Jaitley orders ‘immediate action’ towards implementation of Bankruptcy Code
Ø  January Budget to bring more efficiency: CBDT
Ø  Piramal, Bain Capital join hands to float a platform for stressed assets
Ø  Protection for steel industry must be temporary: CII President
Ø  Welspun faces Walmart review after Target pulls sheets
Ø  Sebi weighs cash benefit distribution via depositories

Business Line
Ø  India is 7th most wealthiest country with $5,600 bn
Ø  Private-public partnerships, film certification board on PAC’s radar
Ø  BSNL Kerala retains status as most profitable telecom circle
Ø  NSE ropes in Citigroup, Morgan Stanley to handle IPO
Ø  FSSAI to allow import of food for special medical purposes

Ø  Smartphone user loyalty is beyond Net Promoter Scores: report
Ø  FIPB clears seven FDI proposals worth Rs290 crore
Ø  Carlyle Group readies bid for Claris’s injectable drugs business
Ø  Aurobindo Pharma Q1 net profit rises 24% to Rs585 crore
Ø  Tata Power Q1 net profit falls 76% to Rs72 crore
Ø  Urjit Patel could take away banks’ $100 billion pacifier

Financial Express
Ø  NITI Aayog looks to make India hub for commercial arbitration
Ø  DIPAM relaxes conflict of interest clause for SUUTI bankers
Ø  Reliance Jio’s full-scale commercial launch likely in December
Ø  RBL Bank’s IPO oversubscribed nearly 70 times
Ø  ED registers fresh money laundering case against Vijay Mallya, Kingfisher airlines

Financial Chronicle
Ø  GSTN security clearance key to bill passage: Swamy
Ø  President regrets low institutional credit growth
Ø  Microsoft buys artificial intelligence startup Genee
Ø  Fed under growing pressure to reform system, goals
Ø  Canada’s Couche-Tard to buy CST Brands in $4.4b deal

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Ramesh Sridharan

Ramesh Sridharan

Ramesh Sridharan is our Stock Market Correspondent covering events and daily movements of stock markets in Asia. He is based in Mumbai