INSUBCONTINENT EXCLUSIVE:
This report was compiled from agency feeds.
Fed's Powell in a dovish shift says rates near neutralUS Federal Reserve Chair Jerome Powell
cycle is drawing to a close
Stocks and interest-rate futures jumped, even while economists wrestled to interpret whether Powell intended to send a message or was simply
The possibly dovish shift in language on Wednesday came as President Donald Trump stepped up attacks on Powell.
Govt slashes GDP growth
rate during UPA era The government Wednesday lowered the country's economic growth rate during the previous Congress-led UPA regime,
shaving off over 1 percentage point from the only year when India posted double-digit GDP growth post liberalisation and from each of the
three years with 9-plus per cent expansion
Recalibrating data of past years using 2011-12 as the base year instead of 2004-05, the Central Statistics Office (CSO) estimated that
India's GDP grew by 8.5% in FY2010-11 (April 2010 to March 2011) and not at 10.3% as previously estimated
Annual financial improvement target for AIAs part of the plan to revive Air India, the government has set a targeted financial improvements
of Rs 2,000 crore per annum through savings as well as revenue enhancement
About Rs 29,000 crore of debt will also be transferred to a special purpose vehicle, which will be owned by the government
The savings through transfer of debt would be over and above the Rs 2,000 crore target
More cos at risk of debt default The number of BSE500 companies that have crossed a debt-default probability threshold has trebled since
the beginning of the year, reports ET
Vodafone Idea, Dewan Housing, Bombay Dyeing, Srei Infrastructure, Jet Airways, Indiabulls Real Estate, Indiabulls Housing Finance, and
Reliance Capital are among 77 companies that have a default risk probability of more than 0.52% compared with 24 at the beginning of 2018
The stocks of these companies have fallen by an average 49% this year compared with a 5% drop in the BSE 500 index.
Oil creeps up after
plunging 2.5%In commodities, US crude futures were up 0.7% at $50.65 per barrel CLc1, paring some losses after sliding 2.5% the previous day
International benchmark Brent crude LCOc1 rose 60 cents, or 1.02%, to $59.36 a barrel, having settling down 2.4 percent on Wednesday at
Oil prices sank on Wednesday after US crude inventories rose for the 10th straight week to the highest in a year, adding to worries about a
worldwide supply glut.
Banks move DRT against Dhoots of VideoconA consortium of banks has applied to the Debt Recovery Tribunal in Delhi
seeking to enforce personal guarantees on the promoters of Videocon group, Venugopal Dhoot and his brother Rajkumar Dhoot
Videocon owes these banks Rs 20,000 crore
An application by State Bank of India showed it was approaching the tribunal as the Dhoots did not respond to a guarantee invocation notice
ICICI Bank, Andhra Bank, IDBI Bank and Bank of India also filed similar applications.
Crucial TCS class action trial endsA jury is currently
policies, after the trial in the class-action lawsuit ended on Tuesday
The week-long trial in Oakland, California, was the first against an Indian IT company to go to a jury
Law firm Kotchen Low, involved in the suit against TCS, is also suing Infosys, Wipro, HCL Technologies and Cognizant
TCS has lost its bid to get the court to restrict the verdict to monetary damages and it could face an order against its business model
POLICIES MOREIndia Inc's foreign borrowings dipped nearly 66% to $1.41 billion in October this year, Reserve Bank data showed Wednesday
The domestic firms had borrowed $4.09 billion from overseas markets through external commercial borrowings (ECBs) as well as Foreign
Currency Convertible Bonds (FCCBs) in October 2017
More than Rs 10,000 crore worth cash has gone back to the banking system since Diwali
This could possibly be the unspent cash withdrawn for festival spending
Currency in circulation has dipped to Rs 11,365 crore since the Diwali week when it reached a peak of Rs 20.2 lakh crore to Rs 20.1 lakh
72.5% stake, ending nearly a year-long contest for Horlicks, the popular malted drink brand in India
The Anglo-Dutch Unilever edged past Nestle, in a closely fought battle between the European consumer giants.TOP VIDEOThanks to Ramdev, all
natural segments growing faster now: Mohit Malhotra, DaburTOP QUOTE'Expect Nifty at 11,500-12,000 in first half of 2019'FUNDAMENTALSRupee
up: The rupee strengthened by 17 paise to close at 70.62 against the US currency on Wednesday as global crude oil prices slipped below the
$60 per barrel mark amid a smart recovery in domestic equity markets
10-yr bond yields up: India 10-year bonds yields fell 0.09% to 7.64% on Wednesday November 28 from 7.73% in the previous trading session,
according to RBI data.
Call rate: The overnight call money rate weighted average was 6.37% on Tuesday, according to RBI data
It moved in a range of 5.00-6.60%.
