CA NeWs Beta*: Market Update 14/5/2019

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Tuesday, May 14, 2019

Market Update 14/5/2019

*Economic Times*
*Business Standard*

Ø  Automated GST refund for exporters by next month
Ø  Arcelor paying Rs 39,500 crore for Essar Steel and not Rs 42,000 cr: SCB counsel Kapil Sibal
Ø  Tata Power, Mahanagar Gas ink pact to offer various services

Ø  India smartphone market grew 7% in Q1 2019: IDC
Ø  India's car sales decline 16% in April, the worst in eight years: Siam
Ø  Saudi oil tankers attacked as Gulf tensions soar amid US, Iran standoff
Ø  Hudco wants Rs 190 cr bite out of McDonalds-Bakshi deal, NCLAT to hear plea
Ø  US antitrust probe singes India's pharmaceutical firms; Sun Pharma falls 9%
Ø  Amazon introduces new machines that pack orders and replace jobs

*Business Line*
*Mint*

Ø   SEBI slaps two showcause notices on HDFC AMC
Ø  Oriental Bank back in black, net profit in FY’18-19 at Rs 55 cr
Ø  Pre-monsoon showers may see a 5-year low
Ø  Retail inflation may rise to 4 per cent in FY20: Crisil
Ø  Relief for TCS as US court rejects CSC's demand for restraining order
Ø  Kwality insolvency: Lenders to vote on deadline extension for submitting bids
Ø  United Bank of India posts profit in Q4, after seven quarter of losses
Ø  US markets tumble, treasuries rally on China tariffs

*Financial Express*
*Deccan Chronicle*

Ø  Vodafone Idea loss at Rs 4,881.9 crore in Q4 amid brutal tariff war, triggered by Reliance Jio
Ø  April retail inflation climbs to 6 month high of 2.92% as food prices rise again
Ø  India likely to add 80 GW of renewable energy capacity in next 5 years: Survey
Ø  Ola credit card: Uber rival is marrying digital payment with mobility in India
Ø  Home Ministry cancels registration of Infosys Foundation
Ø  Nabard announces Rs 700-cr VC fund for agri, rural startups
Ø  ITC Q4 net profit rises 18.72 pc to Rs 3,481.9 crore; Sanjiv Puri is new Chairman
Ø  Amul expects revenue to grow by 20 per cent to Rs 40,000 cr in 2019-20

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