July 22: Former Tata Sons director J.J. Irani says that a slowdown in economic growth will hit the steel sector. “Monsoon is always poor for the steel industry. This year, an auto slowdown has compounded the steel sector’s concerns.”
July 22: “RBI may not carry out open market purchases, which, in turn, worsens the situation for bond yields,” says Chetan Ahya, MD & Asia Pacific Economist at Morgan Stanley.
July 22: “If India runs negative real interest rate and has a large current account deficit, it will discourage foreign investors,” says Chetan Ahya, MD & Asia Pacific Economist at Morgan Stanley. He also reviews the impact of RBI liquidity tightening measures on growth and monetary policy.
July 22: The Street is not very happy with Reserve Bank of India’s moves to steady the rupee but Chetan Ahya, MD & Asia Pacific Economist at Morgan Stanley, says that the central bank is trying to convey that there is a limit to which it can allow rupee depreciation.
July 22: FICCI President Naina Lal Kidwai says, “Though NPAs coming off lows is good, we expect an increase in NPAs due to slowdown.” The twin deficits, especially the current account, and inflation remain the key economic concerns, she adds.
July 22: FICCI President Naina Lal Kidwai says, “Many power and oil & gas projects have been cleared, but there is a need to get cleared projects operationalised.” She tells Bloomberg TV India that states play a key role in project approvals.
July 22: “Given the fact that telecom is a debt-ridden sector; FDI move is welcome. There is a strong prospect of increased investment coming into telecom,” says Naina Lal Kidwai, the President of FICCI, adding that insurance will also benefit from the FDI cap hike.
July 22: “Though immediate effect of RBI move is on liquidity, we are fortunate that the central bank did not hike the repo rate,” FICCI President Naina Lal Kidwai says, while speaking about Corporate India’s take on RBI measures to tighten money rates.
GK Prasad discusses Dr. Anji Reddy’s vision of discovering new drugs & the state of the volatile Rupee in this segment of Inside India’s Best Known Companies.
I-T department probing acquisition of Chanda Kochhars Mumbai Residence
I-T department looking into acquisition of the residence by Deepak Kochhar
Acquisition of residence said to be linked to firms of Videocon group
Indian Express Reports
BANK OF MAHARASHTRA
3 officials including MD & CEO RP Marathe, ED RK Gupta arrested in Pune
Arrests are in connection to fraudulent loans sanctioned to Kulkarni Developers
Outstanding exposure to DS Kulkarni Developers at Rs 94.52 Cr
RITES IPO subscribed 0.6x on day 1
Fine organic industries IPO subscribed 0.12x on day 1
SBI's B Sriram takes additional charge as MD & CEO of IDBI Bank
B Sriram is the longest serving PSB MD
B Sriram Has Experience In Managing Stressed Assets
Wins bid for Connaught Place in Delhi
Taj Group wins 33-year lease for Connaught Hotel in E-auction
Offered to share 31.8% of annual revenue earned with civic body
Have not received any notice from ED on FEMA violations
U.S. to levy tariff on Indian welded pipes
U.S. imposes anti-subsidy duties of upto 500% on welded pipes from India
China, South Korea, & Turkey to also face duties from U.S.
U.S. imported large-diameter welded pipes worth $294.7 Mn from India in 2017
U.S. International Trade Commission scheduled to make a final decision By Dec 20