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Trump cancels summit with Kim; North Korea still wants talks
Posted on 25th May 2018
President Donald Trump on Thursday abruptly canceled his summit with North Korea’s Kim Jong Un, blaming “tremendous anger and open hostility” by Pyongyang a decision North Korea called “regrettable” while still holding out hope for “peace and stability.”

In a letter to Mr. Kim announcing his decision to back away from the June 12 summit, Mr. Trump pointed to America’s vast military might and warned the rising nuclear power against any “foolish or reckless acts.”

Sensex builds on gains, up 187 points in early trade
Posted on 25th May 2018
The BSE Sensex rose over 187 points in early trade extending Thursday’s rally on robust buying in IT, energy and banking stocks amid unabated purchases by domestic institutional investors.

Asian shares were mixed after US President Donald Trump cancelled a planned meeting with North Korean leader Kim Jong Un.

L&T Construction bags Rs 3,191 crore order for Dhaka Metro
Posted on 25th May 2018
Larsen & Toubro (L&T) today said L&T Construction has bagged a Rs 3,191 crore order from Dhaka Mass Transit Company for construction of a railway line for Dhaka Metro. L&T said it has secured the order in JV with Marubeni Corporation (Japan) through an international competitive bidding process.

DoT clears Idea’s sale of cellular towers to American Tower Company
Posted on 25th May 2018
The Department of Telecommunications (DoT) has given a go-ahead to the sale of Idea Cellular’s standalone telecom towers to a subsidiary of American Tower Corp (ATC).

Idea through its wholly owned subsidiary Idea Cellular Infrastructure Services (ICISL) has a portfolio of 9,900 towers with a tenancy ratio of 1.80x (September 2017). During the first half of FY18, ICISL had revenues of Rs 597 crore and an EBITDA of Rs 194 crore.

Maharashtra food processing industry braces for plastic ban
Posted on 25th May 2018
The impending policy decision barring single-use plastics and a ban on PET bottles after a 3-month window has left the Maharashtra food processing industry in a state of flux. Several horticulture associations have opposed the move and have urged the government to deliberate upon alternative packaging solutions.

Volvo Sensus to run on Android
Posted on 25th May 2018
Volvo Cars has announced it is working with Google to embed the voice-controlled Assistant, Play Store, Maps and other Google services into its next-generation Sensus infotainment system, based on Google’s Android operating system.

“Volvo Cars’ intended partnership with Google will further enhance the way Volvo customers engage with and interact with their cars.

SBI to shrink corporate loan book to curb NPAs
Posted on 25th May 2018
Companies may find it difficult to get corporate credit from State Bank of India (SBI) with the bank focusing on public sector undertakings like oil companies and investment grade firms to control its non-performing assets (NPAs) which have hit Rs 2.23 lakh crore, constituting 10.91% of its total advances. Instead, the bank will focus on retail loans which it expects it to grow to 60% of its total advances.

DNA Money Edit: Air India sale may not be easy for govt
Posted on 25th May 2018
The government is in dilemma over Air India privatisation and is rightly re-tweaking the details after couple of bidders pulled out. However, at the same time the government is being prudent as aviation secretary R N Choubey now says that the national carrier may not be sold if they do not get the right price.

Sebi allows 'omnibus' trade structure at Gift City to ease market access
Posted on 25th May 2018
Capital market regulator Securities and Exchange Board of India (Sebi) on Thursday allowed ‘omnibus’ trades at the Gujarat International Finance Tec-city (GIFT City), India’s only international financial service centre (IFSC). An omnibus structure allows an investor trade through a broker or service provider with confidentiality. Such structures are allowed at major jurisdiction worldwide.

TCS market cap crosses Rs 7-trillion mark; stock hits new high of Rs 3,668
Posted on 25th May 2018
Tata Consultancy Services (TCS) , the country's biggest software services exporter, saw its market capitalisation (market-cap) cross Rs 7-trillion mark, adter the stock price of the company hit a new high of Rs 3,668 on the BSE in early morning trade.

At 09:19 am; TCS was trading 1.7% higher at Rs 3,666 have market-cap of Rs 7.91-trillion, the BSE data shows.

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