Mark to Market

IT Reality check for IT stocks as global slowdown worries take centre stage IT stocks have underperformed ever since the broader markets started rallying in February Rising headwinds to global economy and its impact on IT services demand need to be factored in Energy GAIL, BHEL sign pact for development of solar power projects GAIL shall be the project developer and BHEL shall act as an engineering, procurement, construction and project management contractor BHEL shall also provide operation and maintenance services during the initial period upon becoming successful bidder Pharma Drug major Aurobindo Pharma is recalling multiple lots of blood pressure lowering drugs in the US after the American health regulator found certain deviations from Current Good Manufacturing Practice (CGMP) regulations.  Banking State Bank of India is going to open 55 wealth management centres across the country by 2020 to its attract high networth customers from privat...

BigBasket raises $150 million from Mirae, Alibaba and CDC Group Mirae has pumped in about $60 million, while CDC and Alibaba have infused $40 million and $50 million, respectively BigBasket has previously stated that it aims to garner $2.5 billion (around 17,500 crore) in revenue by 2020 Fyle raises $4.2 million from Tiger Global, others With this round, Fyle has raised a total of $5.7 million Fyle will use the fresh funding to expand its US operations, and also invest in research and development MSTC makes tepid market debut, shares end 5% lower than issue price The 13-20 March MSTC IPO was subscribed 1.46 times at a revised price band of ₹120-128 per share The government offloaded 1.76 crore shares, or 25% of total paid-up equity, in the MSTC IPO Rail Vikas Nigam IPO opens today, analysts say issue fairly priced The issue is expected to raise about₹481 crore with a price band of ₹17-19 per equity share Post the issue, the government aims to cut stake in the compa...

India's current account deficit widens to 2.5% of GDP in Q3- In absolute terms, current account deficit was $16.9 billion during the October-December 2018 period, up from $13.7 billion a year ago India's forex reserves rise for 3rd week in a row, now at $407 billion: RBI- In the week to 22 March, India's foreign currency assets increased by $1.031 billion to $378.805 billion, says RBI Gold reserves were unchanged at $23.408 billion, while reserves with the IMF fell $1.5 billion to $2.993 billion Govt set to borrow ₹4.42 trillion in first half of 2019-20- The govt envisages gross market borrowing of ₹7.1 trillion in 2019-20 (FY20) and net market borrowing of₹2.73 crore The govt borrowing target for FY20 is the highest in at least nine years. India's gross borrowing for FY19 stood at ₹5.71 trillion

RBI slaps ₹2 crore penalty on PNB for violating SWIFT norms - SWIFT is a global messaging software used for transactions by financial entities.The massive ₹14,000-crore fraud perpetrated by Nirav Modi and his uncle Mehul Choksi was a case of misuse of this messsaging software India seeks bids for $5 billion in transmission lines to fuel renewables growth - India will launch $5 billion of transmission-line tenders in phases, beginning in June, to route a targeted 175 gigawatts (GW) of power from renewable sources into the country's grid by 2022 India unlikely to implement tit-for-tat tariff hikes against the US on 1 April- India is unlikely to impose the long pending retaliatory tariffs against the unilateral steel and aluminium duty hikes by the Trump administration Sebi: From 1 April, shares can be transferred in demat form only - The decision that transfer of shares has to be compulsorily in demat form was taken back in March 2018. Sebi defers implementation o...

US recession fears topple Sensex, Nifty by nearly 1% today- US bond yield curve inverts for the first time since 2007, stoking fears of a recession.Experts are optimistic that the India story will remain intact due to strong FII inflows Copper hits lowest in a month on growth worries- Benchmark LME copper dropped to a low of $6,295 a tonne, the weakest since 19 Feb, before recovering to $6,323.50 in official open outcry trading, a rise of 0.2%.Three-month LME aluminium, untraded in official rings, was bid down 0.9% at $1,886 a tonne The overall FMCG market by volume declined 1% in 2018 compared with a 7.5% rise a year ago- India’s overall fastmoving consumer goods (FMCG) market shrank in the 2018 calendar year despite branded products, especially from listed companies, seeing double-digit growth, indicating falling demand for unbranded and unorganised products. 

EU fines Google 1.49 bn euros for anti-trust breach European Union regulators have hit Google with a 1.49 billion euro (USD 1.68 billion) fine for abusing its dominant role in online advertising.It's the third time the commission has slapped Google with an antitrust penalty. Brexit delayed: British PM Theresa May requests three-month extension May has written to European Council President Donald Tusk to ask for a delay until 30 June EU leaders are expected to discuss May's request for a Brexit delay at a summit in Brussels on Thursday and Friday Thyssenkrupp, Tata Steel get EU extension of JV remedy deadline Thyssenkrupp, Tata need more time to work out remedies

Ola raises $300 million from Hyundai, Kia Hyundai Motor Group and Kia Motors together invested $300 million in India’s ride-hailing giant Ola, marking their biggest combined investment. The round is part of a strategic partnership under which the companies will jointly work toward creating mobility solutions for global markets . Kotak Realty Fund ties up with DivyaSree Developers to start $400 mn office fund The fund’s strategy is to develop greenfield projects across Bengaluru, Hyderabad, Pune and Mumbai Shapoorji Pallonji gears up to list solar EPC biz Shapoorji Pallonji Groupwill soon file draft documents with the markets regulator to raise ₹4,000 crore by selling shares in its solar engineering, procurement and construction (EPC) business to the public for the first time.