India : Business News Headlines – 16 Nov 2016
Wed Nov 16 2016
Ramesh Sridharan (876 articles)

India : Business News Headlines – 16 Nov 2016

Business Standard
Ø  All interest rates to fall soon: Arundhati Bhattacharya
Ø  Vodafone lowers value of India unit by 5 bn euros
Ø  Demonetisation a very bold move: Chris Wood
Ø  Rupee ends near 5-mth low vs dollar; tanks 49 paise
Ø  Petrol price cut by Rs 1.46/litre, diesel by Rs 1.53/litre
Ø  Mistry calls ouster from Tata Global Beverages illegal
Ø  Trai backs open interfaces used in Aadhar, e-KYC
Ø  Govt puts off raising ATM withdrawal limit to Rs 4,000
Ø  Food inflation drops further, pushing WPI lower
Ø  GAIL’s net profit rockets 180%
Ø  Demonetisation: Govt announces a 7-point strategy to contain currency crisis
Ø  Wadia to write on Tata’s bad overseas buys, massive losses
Ø  Govt hikes wheat MSP by Rs 100/qtl; pulses by up to 550/qtl
Ø  Trade deficit widens to $10.16 bn in Oct
Ø  Cooperative Bank employees planning to protest against RBI

Mint
Ø  Union Budget to be presented on February 1
Ø  Govt’s move will not raise inflation: Rajiv Kumar
Ø  FinMin wants speedy dividend payment by PSUs
Ø  Vodafone loss doubles to $5.5 due to India write-down
Ø   Tata meets Jaitley as boardroom battle rages with Mistry
Ø  Petroleum dealers favour cashless transactions at retail outlets
Ø  Tata Global Beverages removes Cyrus Mistry as chairman
Ø  Donald Trump’s threat to Indian IT is all bluster
Ø  Supreme Court declines to stay demonetization notification
Ø  Lawsuits against Welspun, Wal-Mart roil cotton industry
Ø  Reliance Group launches IoT services under venture Unlimit
Ø  Axis Bank in talks to sell Mswipe stake
Ø  PNB Housing Finance Q2 profit up 78% at Rs137 crore

Financial Chronicle
Ø  HSBC keeps Sensex target unchanged at 29,000 for December end
Ø  Slash stamp duty to clean up real estate sector: Assocham
Ø  PM Modi urges leaders to cooperate on black money, corruption at all party meet
Ø  NHAI may compensate concessionaires for loss in toll money
Ø  Nitish Kumar’s cabinet approves acquiring land for Bihta airport
Ø  India Inc overseas direct investment dip 29% to $2.11b in October
Ø  India, Israel to intensify defence, anti-terror cooperation
Ø  India Infra funding needs Rs 8.6 lakh crore a year: Crisil
Ø  Food prices help ease Oct retail inflation to 4.20%
Ø  Britain has no Brexit plan, leaked memo claims
Ø  Deadline for banks to clean up books ‘stands’ at March’17: RBI

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

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