News for 18-10-2018

Here are the major News for 18-10-2018 compiled from various sources, simply click on the given link to read the respective news item. Please feel free to add your comments to indulge into meaningful discussions and debates on the topics:

The Hindu:
RIL rides on jio, retail push

Reliance Industries Ltd (RIL) registered a 17.40% growth in net profit for the Q2 on yoy basis. This is mainly attirbuted to the growth in petrochemical, retail and jio businesses.

Of 24 IPOs this year, 17 trade below offer price

Most of the IPOs issued in 2018 have disappointed the investors, opening below the offer price, amidst a volatile secondary market. Many IPO offerings by major companies have turned red this year.

RIL acquires controlling stake in DEN, Hathway for Rs. 5230 crores

Reliance Jio’s JioGigaFiber expanded it’s network and capacity by acquiring a major stake worth Rs. 5230 crores in DEN Network Ltd. (66%) And Hathway Cable and Datacom Ltd. (51.30%).

Arundhati Bhattacharya join RELIANCE INDUSTRIES as Independent Director

Former chairperson of SBI Arundhati Bhattacharaya joined Reliance Industries as an additional director for a five year term.

Business Standard:
NTPC prepares war chest to bid for stressed assets

National Thermal Power Corporation (NTPC) has received support from some of the banks to fund it’s plan to buy assets landing in insolvency courts. NTPC has shortlisted 8-9 projects for such project. Overall, in the 32 stressed power projects, the amount of loans stuck in Rs. 2 trillion. NTPC would be using the war chest to bid for the projects undergoing resolution under NCLT.

Stock market falls as NBFC liquidity fears weigh on investor sentiment

Market and investor sentiment pulled down the shares of NBFCs, mainly due to liquidity fear in the market. Stock market, in general, has witnessed a fall in the stock positions, except in the FMCG sector.

Housing prices up 5.30% during april-june quarter in 10 major cities: RBI

RBI released the quarterly House Price index (HPI) for the Q1 of 2018-19, showing that house prices increased by an average of 5.3% percent during the first quarter.

RBI denies YES BANK request to extend MD & CEO Rana Kapoor’s term

RBI rejected Yes Bank’s request to extend the term of MD & CEO Rana Kapoor, and reaffirmed the deadline to find the successor by February. YES Bank has appointed a US advisory firm- Korn Ferry to help with the selection process.

Happy Reading!

Banker Forum

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