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NEWS UPDATE FOR May 15, 2018
1. Trumps administration insists that the drug companies display prices in ads and restrict any sensitive information to be passed by the pharmacists for better transparency.
2. American Pharma stocks saw a decline of 6.3% year-to-date framework up to 11 May 2018, but the after trumps to negotiate prices of drugs directly with drug makers made all the stocks soar of Pharma& Biotech, Pharma shares in India gained as well.
1. The IT sectors contribution towards GDP has dropped from a high of 9.5% in 2014-15 to 6.35% in 2017-2018, exporting around $126 billion which is 24% of total exports according to NASSCOM, therefore experts are pushing the IT sector in order to grow around 9%
Oil & Gas
1. India’s fuel demand up by 4.4% in April
India’s fuel demand rose by 4.4% in April because of a surge in auto fuel & cooking gas consumption. The rise was surge by 9.2% surge in petrol sales. India posted 2.6% growth in consumption of petroleum products.
2. Petrol, diesel prices rise after 19-day pre-poll hiatus
State-run oil companies have resumed raising prices of petrol and diesel following the conclusion of voting in Karnataka. State oil companies have raised the prices of petrol and diesel by 17 paise and 21 paise respectively.
1. Four seasons will come up in all major Indian cities: Isadore Sharp, Chairman
Luxury hotel Four seasons have only one hotel in Mumbai, but India is an important market for the company, said chairman Isadore Sharp. The company is planning to expand their business in Delhi, Jaipur and Goa.
1. Uber shows its vision for future flying Taxi, new prototype vehicle for the future of transportation which aims urban congestion.
1. The Telecom department on Monday approved the merger of Telenor India with Bharti Airtel. Post the deal approval, Airtel will buy Telenor India in a no-cash deal and take over its outstanding spectrum payments of Rs 1,650 crore.
2. Reliance Jio moved the SC challenging the Delhi High Court’s order allowing to Bharti Airtel over its Indian Premier League advertisement campaign. The dispute is, Airtel’s T20 Live and Free campaign in television, print and outdoor media, under which the telco offers subscribers live and free coverage of the cricket league’s matches on its network.
3. TRAI is considering a charge that telecom operators pay each other for text messages — possibly even discarding it — a move that could trigger another clash with financially strapped older telcos.
1. Allahabad Bank holds an emergency board meeting in order to take away all executive powers from CEO UshaAnanthasubramanian due to involvement in PNB Scam.
2. RBI has imposed restrictions on Allahabad Bank to lend risky assets and raising high-cost deposits in view of deteriorating financial health.
3. Top senior bank officials are likely to face charges in PNB case after CBI files the charge sheet in the court.
1. The Vadakara Coconut Company that produces Neera, a non-alcoholic drink extracted from coconut plan is now shifting its business to make coconut oil and promote it through better ways.
2. Consumer durables firms will increase the price of their products from June due to rising input cost and increasing oil prices.
1. Metal sector to drive stability in the corporate outlook for 2018-19: Revenue could see a growth of 7% -9% due to pick up in demand in consumption -led sectors like automobiles and retail, low base effect and higher realisation in commodity-linked sectors.
1. Bharti Airtel completes acquisition of Telenor India: The deal will enable Airtel to further bolster its spectrum footprint in these seven circles, with the addition of 43.4 MHz spectrum in the 1800 MHz band – widely known as 2G spectrum, but it is now being used for 4G services as well.
2. Global Market
Asian Stocks Decline With U.S. Yield Around 3%. Stocks in Asia declined Tuesday, with 10-year Treasury yields hitting the 3 percent mark again as investors assessed the outlook for global trade relations and increased tensions in the Middle East. The dollar held gains and crude oil steadied.
1. Motilal Oswal Real Estate aims to raise Rs 1,500 crore
Private Equity firm Motilal Oswal is looking to raise up to Rs. 1500 Cr through India Realty Excellence Fund IV (IREF IV) to invest in mid-income and affordable housing. This fund’s strategy would be an extension of MORE’s earlier funds IREF II and IREF III. It plans to deploy the capital in mid-income and affordable residential projects across the top 6 cities in India including Mumbai, Delhi-NCR, Pune, Bangalore, Hyderabad and Chennai.
2. No change in real estate law, Puri tells builders
The government ruled out any amendment to the real estate regulation law (RERA). The Centre has also set June 30 deadline for states to bring all incomplete projects under regulation. June 30 has also been set as the deadline for establishing permanent regulators, start websites and the tribunals as prescribed in the law.
Union housing and urban affairs minister Hardeep Singh Puri said “there is no question of amending any provision, though the government is open to any suggestions from all stakeholders. Let the law in totality be implemented for one year and there is no need for any immediate change.”
1. Blockbuster Exit for Asha Impact from NBFC Varthana
Impact investment and policy advocacy platform Asha Impact has exited its stake in Bengaluru based NBFC Varthana. The sale of its minority stake in Varthana to private equity firm Chrys Capital Advisors and some of the other existing investors fetched Asha Impact a return of over five times on its investment of Rs 4 crore made in 2015. Asha Impact held a minority stake of around 5-6% in Varthana at the time of its first investment.
The exit comes as part of a secondary share sale during the company’s Series-C fundraise of Rs 355 crore led by ChrysCapital Advisors and existing investors including Elever Equity, Omidyar Network, LGT Impact and Kaizen Private Equity in April.