Morning News Headlines
• Bank of Baroda: The lender is to consider raising capital funds through the issue of capital debt instruments on December 5.
• Godrej Properties: The company has acquired 20 percent issued and paid-up share capital of Yujya Developers Private Limited.
• NMDC: Total November production was down 10.6 percent at 2.94 MT versus 3.29 MT, while sales remained flat at 2.79 MT, YoY.
• Jaypee Infratech: Yes Bank has filed a petition before NCLT Allahabad to initiate the corporate insolvency resolution process against Jaypee Healthcare Limited (a subsidiary of the company).
• Shiva Texyarn: CARE Ratings has revised the ratings on the company's long and short-term bank facilities.
• lower MAT rate announced as part of the corporate tax rate cuts in September will be applicable from the current fiscal year, Finance Minister Nirmala Sitharaman clarified on Monday in the Lok Sabha.
• Getting into global debt, equity indices can fetch us $100 bn: Nilesh Shah.
• Decision of NSDL to transfer securities from Karvy Broking’s demat accounts to client accounts has caught lenders on the wrong foot.
• sales drop 17% in November on slowdown, delay in infra projects.
• $14 bn loans to builders under severe stress, may result in default: Report.
• Axis Bank launched Burgundy Private, a platform that would cater to high net worth individuals. The platform offer services like portfolio management, tax advisory, estate planning and real estate advisory.
• Slow credit growth due to unutilised sanctioned working-capital limits: SBI chairman.
• ICICI Bank cuts one-year MCLR by 10 bps to 8.25%.
• Global markets: Stocks drop as Donald Trump’s Latin American tariffs revive trade angst.
• Steel export thrusts to be sustained on markup in global prices.