🇮🇳Business News Headlines
Economic Times
Ø HDFC Bank Q1: Net Profit jumps 16.1% to Rs 7,730 Cr, misses Street Estimates
Ø *Switzerland Accounts for Half of India’s Gold Imports in FY21*
Ø Ola gets 1 Lakh Bookings for Electric Scooter
Ø OPEC+ Plans new Output Policy meeting on Sunday, sources say
Ø OMI raises funds from Nexus Ventures Partners
Ø Pandemic pushes back World Economy by 5-10 years, says Bata Global CEO
Ø M&M sets the wheel in motion to reclaim its lost space as an 'authentic SUV maker'
Business Standard
Ø Boost for Navy as delivery of MH-60R Seahawk multi-role helicopters begins
Ø Post-Brexit, India records highest Growth for UK Job Clicks : Indeed
Ø Delhi University to start registration process for UG programmes on Aug 2
Ø HDB Financial Services Q1 Net Profit nosedives on Covid-19 impact
Ø Stock Exchanges examining preferential share issue to parent firm: LIC HFL
Financial Express
Ø Report card: BSNL slashes FY21 losses by 52% with reduced staff costs
Ø *India, Africa to drive refurbished Smartphone market, says report*
Ø Complied with 85% of asks on tech, ball in RBI court for lifting ban: HDFC Bank
Ø Offline Retail revival depends on COVID vaccination coverage, says expert
Mint
Ø German, Belgian flood deaths rise to 157 as search continues
Ø Zurich Airport signs shareholder agreement for Jewar airport development
Ø IBC amendment Bill to be tabled in Monsoon Session of Parliament
*Ø Two-Wheeler Sales Growth in FY22 will be lower than predicted: Crisil*
Ø Tata Power to set up EV Charging Stations at HPCL Outlets
Ø Assets under NPS rose to over ₹6 Trillion as of 30 June: PFRDA
Economic Times
Ø HDFC Bank Q1: Net Profit jumps 16.1% to Rs 7,730 Cr, misses Street Estimates
Ø *Switzerland Accounts for Half of India’s Gold Imports in FY21*
Ø Ola gets 1 Lakh Bookings for Electric Scooter
Ø OPEC+ Plans new Output Policy meeting on Sunday, sources say
Ø OMI raises funds from Nexus Ventures Partners
Ø Pandemic pushes back World Economy by 5-10 years, says Bata Global CEO
Ø M&M sets the wheel in motion to reclaim its lost space as an 'authentic SUV maker'
Business Standard
Ø Boost for Navy as delivery of MH-60R Seahawk multi-role helicopters begins
Ø Post-Brexit, India records highest Growth for UK Job Clicks : Indeed
Ø Delhi University to start registration process for UG programmes on Aug 2
Ø HDB Financial Services Q1 Net Profit nosedives on Covid-19 impact
Ø Stock Exchanges examining preferential share issue to parent firm: LIC HFL
Financial Express
Ø Report card: BSNL slashes FY21 losses by 52% with reduced staff costs
Ø *India, Africa to drive refurbished Smartphone market, says report*
Ø Complied with 85% of asks on tech, ball in RBI court for lifting ban: HDFC Bank
Ø Offline Retail revival depends on COVID vaccination coverage, says expert
Mint
Ø German, Belgian flood deaths rise to 157 as search continues
Ø Zurich Airport signs shareholder agreement for Jewar airport development
Ø IBC amendment Bill to be tabled in Monsoon Session of Parliament
*Ø Two-Wheeler Sales Growth in FY22 will be lower than predicted: Crisil*
Ø Tata Power to set up EV Charging Stations at HPCL Outlets
Ø Assets under NPS rose to over ₹6 Trillion as of 30 June: PFRDA
🇮🇳Business News Headlines
Economic Times
Ø ITC Group's earning from foreign exchange in FY'21 up 29%
Ø Reliance's O2C, new energy business may be valued over $100 billion
*Ø Automobile Exports recover in Q1 as Pandemic situation improves Globally*
Ø Pandemic no equaliser in auto sector as demand recovery falters
Ø FPIs pull out Rs 4,515 cr from Indian equities so far in July
Ø M-cap of 6 out of top 10 domestic firms soars over Rs 69,611 cr
Ø NPCI in talks to take UPI, RuPay to global markets
Ø Discoms' outstanding dues to gencos fall 15.25% to Rs 82,305 cr in May
Ø OMCs pause petrol, diesel price hike on Sunday
Ø Mindtree's margin story remains intact: CEO
Ø Shree Cement Pune plant to commission in September
Business Standard
Ø Rossari to acquire Tristar Intermediates at enterprise value of Rs 120 cr
Ø Analysts expect 'muted' June qtr for telcos amid lower subscriber additions
*Ø RIL's Retail Business likely to grow 3x in next 3-5 years: Report*
Ø Adani group rejigs airport business leadership, names execs for new roles
Ø Oil Ministry authorises new companies to sell auto fuels in the country
Ø Q1 Earnings to guide Equity markets in holiday-shortened week say analysts
Ø BSNL narrows consolidated loss to Rs 7,441 crore in FY 2021: Official
Ø Flex-fuel engines: Roadmap, benefits and challenges for Indian auto sector
*Ø HDFC Securities to enter Discount Broking segment to win market share*
Ø India Inc's overseas direct investment in June doubles at $2.8 bn
Financial Express
Ø Reliance's O2C, new energy biz may be valued over $100 bn
Ø Mega Debut: Paytm ready for Rs 16,600-crore mega IPO
Ø FDI limit in NPS fund managers hiked to 74%
Ø Exports jump 48% in June, imports surge 98%
Ø Alkem looks for partnerships, in-licensing deals to bolster presence in US market
*Ø Record Steel prices inject life into long-suffering industry*
Ø Healthcare to have special focus in coming decades: Cadila Healthcare
Ø Kirloskar to invest additional Rs 250 crore in NBFC arm, monetise land assets
Ø Reliance Retail Ventures buys 41% in Just Dial for Rs 3,497 crore
Ø Bandhan Bank’s advances grow 8% y-o-y in Q1
Mint
Ø Bank Credit Growth improves, deposit growth declines: RBI
Ø Wipro’s turnaround is on track but its valuation has run ahead of itself
Ø HDFC Bank monitoring commercial vehicle sector hit by diesel price hike
Ø Discoms may be turning a corner as losses dip in FY20
Ø RBI bars Mastercard from issuing new debit, credit cards in India from 22 July
*Ø India IT Spending expected to grow at 8% to $92.7 bn in 2021: Gartner report*
Ø Flush with unicorns, India’s Tech moment arrives
Ø Pricing Discipline to save cement makers battling cost inflation
Ø Paytm’s IPO needs more than the rub-off from Zomato’s exuberance
Ø Fed rate hike may not hurt Asia; stronger US Growth Positive
Economic Times
Ø ITC Group's earning from foreign exchange in FY'21 up 29%
Ø Reliance's O2C, new energy business may be valued over $100 billion
*Ø Automobile Exports recover in Q1 as Pandemic situation improves Globally*
Ø Pandemic no equaliser in auto sector as demand recovery falters
Ø FPIs pull out Rs 4,515 cr from Indian equities so far in July
Ø M-cap of 6 out of top 10 domestic firms soars over Rs 69,611 cr
Ø NPCI in talks to take UPI, RuPay to global markets
Ø Discoms' outstanding dues to gencos fall 15.25% to Rs 82,305 cr in May
Ø OMCs pause petrol, diesel price hike on Sunday
Ø Mindtree's margin story remains intact: CEO
Ø Shree Cement Pune plant to commission in September
Business Standard
Ø Rossari to acquire Tristar Intermediates at enterprise value of Rs 120 cr
Ø Analysts expect 'muted' June qtr for telcos amid lower subscriber additions
*Ø RIL's Retail Business likely to grow 3x in next 3-5 years: Report*
Ø Adani group rejigs airport business leadership, names execs for new roles
Ø Oil Ministry authorises new companies to sell auto fuels in the country
Ø Q1 Earnings to guide Equity markets in holiday-shortened week say analysts
Ø BSNL narrows consolidated loss to Rs 7,441 crore in FY 2021: Official
Ø Flex-fuel engines: Roadmap, benefits and challenges for Indian auto sector
*Ø HDFC Securities to enter Discount Broking segment to win market share*
Ø India Inc's overseas direct investment in June doubles at $2.8 bn
Financial Express
Ø Reliance's O2C, new energy biz may be valued over $100 bn
Ø Mega Debut: Paytm ready for Rs 16,600-crore mega IPO
Ø FDI limit in NPS fund managers hiked to 74%
Ø Exports jump 48% in June, imports surge 98%
Ø Alkem looks for partnerships, in-licensing deals to bolster presence in US market
*Ø Record Steel prices inject life into long-suffering industry*
Ø Healthcare to have special focus in coming decades: Cadila Healthcare
Ø Kirloskar to invest additional Rs 250 crore in NBFC arm, monetise land assets
Ø Reliance Retail Ventures buys 41% in Just Dial for Rs 3,497 crore
Ø Bandhan Bank’s advances grow 8% y-o-y in Q1
Mint
Ø Bank Credit Growth improves, deposit growth declines: RBI
Ø Wipro’s turnaround is on track but its valuation has run ahead of itself
Ø HDFC Bank monitoring commercial vehicle sector hit by diesel price hike
Ø Discoms may be turning a corner as losses dip in FY20
Ø RBI bars Mastercard from issuing new debit, credit cards in India from 22 July
*Ø India IT Spending expected to grow at 8% to $92.7 bn in 2021: Gartner report*
Ø Flush with unicorns, India’s Tech moment arrives
Ø Pricing Discipline to save cement makers battling cost inflation
Ø Paytm’s IPO needs more than the rub-off from Zomato’s exuberance
Ø Fed rate hike may not hurt Asia; stronger US Growth Positive
🇮🇳Business News Headlines
Economic Times
Ø RCF lenders approve debt-resolution plan with Authum
Ø Mindtree sees broad-based growth in client demand
Ø L&T construction arm bags orders in overseas, domestic market
Ø IndiaMart moves HC claiming Just Dial filed false documents
Ø CreditAccess Grameen raises $25 mn ECB from Swedfund International
Ø Current bull market won’t vanish like the one in 1992, says Jhunjhunwala
Ø Global growth boom may disappoint, warns Morgan Stanley’s Ruchir Sharma
Ø Rise in HDFC Bank’s ‘risky’ assets spurs concerns over sector stress
Ø RBI’s Mastercard ban may hit Citibank India’s retail biz sale
Ø Mindtree's margin story remains intact: CEO
Ø Sebi proposes swing pricing mechanism for debt MFs
Business Standard
Ø AGR dues cannot be recomputed: Supreme Court reserves order
Ø Shiv Nadar resigns as MD of HCL Technologies, named Chairman Emeritus
Ø Biocon controversy: Sebi's insider trading laws may need an overhaul
Ø HDFC Life's Q1 net falls 33% due to higher provisions and claim payout
Ø Dabur's non-executive chairman Amit Burman hospitalised in London
Ø Growth in FY'22 to be around 11% as projected in Economic Survey, says CEA
Ø Recovery of bad loans impacted due to Covid pandemic, says B K Karad
Ø Nuvoco Vistas gets Sebi approval to raise Rs 5,000 crore through IPO
Ø Sebi, DRI probing some Adani Group firms for non-compliance of rules: Govt
Ø Strong fundamentals, market size will attract foreign investments: FM
Financial Express
Ø Centre exempts pulses' importers from stock limits; norms for millers, wholesalers also relaxed
Ø Rakesh Jhunjhunwala no fan of Zomato, other tech unicorns; says current bull market won’t vanish
Ø Suzuki preps to launch first electric car in India: To enter EV market by 2025
Ø Exports jump 48% in June, imports surge 98%
Ø Rs 81,179 cr due to states as GST compensation for FY21
Ø Retail sales down by 50 per cent in June: RAI
Ø Goldman Sachs to hire over 2,000 by 2023 for Hyderabad office
Ø L&T construction arm bags orders in overseas, domestic market
Ø Steel prices may cool off after year-long rally
Ø ‘V’-shaped recovery on resumption in biz activity: Nomura
Mint
Ø NCLAT stays Vedanta's takeover of Videocon
Ø Foreign exchange reserves comfortable: Pankaj Chaudhary
Ø Tree Line Asia Master Fund sells Just Dial shares worth Rs94 crore
Ø India takes up high oil prices with OPEC, producers
Ø Reliance Infra raises ₹550.56 crore via preferential allotment of securities
Ø Domestic air passenger traffic bounce back in June
Ø Reliance Retail to benefit from JD’s evolution into a super app
Ø Dhanlaxmi Bank announces strategic alliance with SMC Global Securities
Ø Sebi says valuation must for all preferential allotment plans
Ø Tatva Chintan Pharma Chem IPO subscribed 15.19 times on Day 2
Ø $7 billion BPCL sale slows on Covid-19 pandemic, LIC IPO
Economic Times
Ø RCF lenders approve debt-resolution plan with Authum
Ø Mindtree sees broad-based growth in client demand
Ø L&T construction arm bags orders in overseas, domestic market
Ø IndiaMart moves HC claiming Just Dial filed false documents
Ø CreditAccess Grameen raises $25 mn ECB from Swedfund International
Ø Current bull market won’t vanish like the one in 1992, says Jhunjhunwala
Ø Global growth boom may disappoint, warns Morgan Stanley’s Ruchir Sharma
Ø Rise in HDFC Bank’s ‘risky’ assets spurs concerns over sector stress
Ø RBI’s Mastercard ban may hit Citibank India’s retail biz sale
Ø Mindtree's margin story remains intact: CEO
Ø Sebi proposes swing pricing mechanism for debt MFs
Business Standard
Ø AGR dues cannot be recomputed: Supreme Court reserves order
Ø Shiv Nadar resigns as MD of HCL Technologies, named Chairman Emeritus
Ø Biocon controversy: Sebi's insider trading laws may need an overhaul
Ø HDFC Life's Q1 net falls 33% due to higher provisions and claim payout
Ø Dabur's non-executive chairman Amit Burman hospitalised in London
Ø Growth in FY'22 to be around 11% as projected in Economic Survey, says CEA
Ø Recovery of bad loans impacted due to Covid pandemic, says B K Karad
Ø Nuvoco Vistas gets Sebi approval to raise Rs 5,000 crore through IPO
Ø Sebi, DRI probing some Adani Group firms for non-compliance of rules: Govt
Ø Strong fundamentals, market size will attract foreign investments: FM
Financial Express
Ø Centre exempts pulses' importers from stock limits; norms for millers, wholesalers also relaxed
Ø Rakesh Jhunjhunwala no fan of Zomato, other tech unicorns; says current bull market won’t vanish
Ø Suzuki preps to launch first electric car in India: To enter EV market by 2025
Ø Exports jump 48% in June, imports surge 98%
Ø Rs 81,179 cr due to states as GST compensation for FY21
Ø Retail sales down by 50 per cent in June: RAI
Ø Goldman Sachs to hire over 2,000 by 2023 for Hyderabad office
Ø L&T construction arm bags orders in overseas, domestic market
Ø Steel prices may cool off after year-long rally
Ø ‘V’-shaped recovery on resumption in biz activity: Nomura
Mint
Ø NCLAT stays Vedanta's takeover of Videocon
Ø Foreign exchange reserves comfortable: Pankaj Chaudhary
Ø Tree Line Asia Master Fund sells Just Dial shares worth Rs94 crore
Ø India takes up high oil prices with OPEC, producers
Ø Reliance Infra raises ₹550.56 crore via preferential allotment of securities
Ø Domestic air passenger traffic bounce back in June
Ø Reliance Retail to benefit from JD’s evolution into a super app
Ø Dhanlaxmi Bank announces strategic alliance with SMC Global Securities
Ø Sebi says valuation must for all preferential allotment plans
Ø Tatva Chintan Pharma Chem IPO subscribed 15.19 times on Day 2
Ø $7 billion BPCL sale slows on Covid-19 pandemic, LIC IPO
🇮🇳Business News Headlines
Economic Times
Ø NBCC invites bids to sell 5,192 Housing units of Stalled Amrapali projects
Ø Wipro sells entire shareholding in IntSights for $19.17 Mn
Ø Tata Motors board okays plan to raise Rs 500 cr via NCDs
Ø Network18 Media Q1 results: Firm posts net profit at Rs 121 Cr
Ø ICICI Prudential Life Q1 results: Co reports loss at Rs 186 Crore
Ø ADB cuts India's FY22 economic growth forecast to 10%; Inflation seen rising marginally to 5.5%
Ø Defence Ministry issues Rs 43,000 Crore tender for six conventional subs
Ø Mesh raises $5 Million in funding led by Sequoia Capital India's Surge
Ø HealthifyMe gets $75 Million funding for hiring, overseas expansion
Business Standard
Ø Pension funds will soon be allowed to invest in IPOs: PFRDA Chairman
Ø Swiggy valuation tops $5.5 Bn after raising $1.25 Bn from SoftBank, Prosus
Ø Google builds on India bet, set to buy 2-year-old start-up simsim
Ø RIL-Future Deal : Singapore EA award needs to be executed, Amazon tells SC
Ø Asian Paints profit up 161% at Rs 574 Crore, M-Cap hits Rs 3 Trillion
Ø Motilal Oswal to raise Rs 4,000 Cr Fund from Domestic, Global Investors
Ø Govt seeks Parliament nod for net additional Rs 23,675 Crore spending
Ø PSBs' loan write-offs twice as much as govt's capital infusion in 7 Years
Ø Sebi makes it mandatory for brokers to report client-level collateral
Ø Glenmark Life Sciences to open July 27 with 6.3 Mn Shares on sale
Ø Tamil Nadu inks deals with 35 firms; to see over Rs 17,000 Cr Investment
Ø US Govt likely to continue expand India ties due to China factor: Report
Ø Mandatory hallmarking of gold jewellery on track since June 16: Govt
Financial Express
Ø Telcos to report subdued Q1 on pandemic woes
Ø District co-operative banks’ bad loan ratio hits 12.6%: FM Nirmala Sitharaman
Ø NTPC wins 325 MW solar Project in Madhya Pradesh auction
Ø BSES to get 510 MW green power from SECI for Delhi
Ø Godrej Appliances forays into dishwashers; eyes 15 pc mkt share by end of 2021-22
Ø 6.66 Lakh Direct, Indirect jobs generated by 22 operational mega food parks: Govt
Ø Over USD 157 Billion deployed in last 15 months to fight Covid pandemic: World Bank
Ø Sebi extends regulatory compliance timeline for debenture trustees
Ø Tatva Chintan IPO huge hit; subscribed 180.36 Times
Mint
Ø BharatNet Project: BBNL invites global bids for ₹19,041 Crore
Ø Over 400 Million still vulnerable to Covid-19 : ICMR survey
Ø Overseas remittances can be filed manually till mid-August: CBDT
Ø Edtech startup CareerNinja raises pre-series funding from Unitus Ventures
Ø EPFO adds 9.20 Lakh net New Subscribers in May
Ø ACC posts two-fold rise in Q1FY22 Net Profit despite covid-19 disruptions
Ø Fujitsu enters India's Consumer Laptop Market, aims to sell 10K Units by March
Ø Shyam Metalics Q1 results: Net Profit zooms 470%, Revenue up 170%
Economic Times
Ø NBCC invites bids to sell 5,192 Housing units of Stalled Amrapali projects
Ø Wipro sells entire shareholding in IntSights for $19.17 Mn
Ø Tata Motors board okays plan to raise Rs 500 cr via NCDs
Ø Network18 Media Q1 results: Firm posts net profit at Rs 121 Cr
Ø ICICI Prudential Life Q1 results: Co reports loss at Rs 186 Crore
Ø ADB cuts India's FY22 economic growth forecast to 10%; Inflation seen rising marginally to 5.5%
Ø Defence Ministry issues Rs 43,000 Crore tender for six conventional subs
Ø Mesh raises $5 Million in funding led by Sequoia Capital India's Surge
Ø HealthifyMe gets $75 Million funding for hiring, overseas expansion
Business Standard
Ø Pension funds will soon be allowed to invest in IPOs: PFRDA Chairman
Ø Swiggy valuation tops $5.5 Bn after raising $1.25 Bn from SoftBank, Prosus
Ø Google builds on India bet, set to buy 2-year-old start-up simsim
Ø RIL-Future Deal : Singapore EA award needs to be executed, Amazon tells SC
Ø Asian Paints profit up 161% at Rs 574 Crore, M-Cap hits Rs 3 Trillion
Ø Motilal Oswal to raise Rs 4,000 Cr Fund from Domestic, Global Investors
Ø Govt seeks Parliament nod for net additional Rs 23,675 Crore spending
Ø PSBs' loan write-offs twice as much as govt's capital infusion in 7 Years
Ø Sebi makes it mandatory for brokers to report client-level collateral
Ø Glenmark Life Sciences to open July 27 with 6.3 Mn Shares on sale
Ø Tamil Nadu inks deals with 35 firms; to see over Rs 17,000 Cr Investment
Ø US Govt likely to continue expand India ties due to China factor: Report
Ø Mandatory hallmarking of gold jewellery on track since June 16: Govt
Financial Express
Ø Telcos to report subdued Q1 on pandemic woes
Ø District co-operative banks’ bad loan ratio hits 12.6%: FM Nirmala Sitharaman
Ø NTPC wins 325 MW solar Project in Madhya Pradesh auction
Ø BSES to get 510 MW green power from SECI for Delhi
Ø Godrej Appliances forays into dishwashers; eyes 15 pc mkt share by end of 2021-22
Ø 6.66 Lakh Direct, Indirect jobs generated by 22 operational mega food parks: Govt
Ø Over USD 157 Billion deployed in last 15 months to fight Covid pandemic: World Bank
Ø Sebi extends regulatory compliance timeline for debenture trustees
Ø Tatva Chintan IPO huge hit; subscribed 180.36 Times
Mint
Ø BharatNet Project: BBNL invites global bids for ₹19,041 Crore
Ø Over 400 Million still vulnerable to Covid-19 : ICMR survey
Ø Overseas remittances can be filed manually till mid-August: CBDT
Ø Edtech startup CareerNinja raises pre-series funding from Unitus Ventures
Ø EPFO adds 9.20 Lakh net New Subscribers in May
Ø ACC posts two-fold rise in Q1FY22 Net Profit despite covid-19 disruptions
Ø Fujitsu enters India's Consumer Laptop Market, aims to sell 10K Units by March
Ø Shyam Metalics Q1 results: Net Profit zooms 470%, Revenue up 170%