Latest News Headlines Wed Jul 18 11:36:39 IST 2018

2. Thousands of Japan's flood survivors await aid as they wait in evacuation centres
3. Why STDs are on the rise in America
4. PM’s statement ahead of the beginning of the Monsoon Session of Parliament
5. Key suspect in Kerala SFI leader's murder nabbed
6. Mbappe's goal in final generated most tweets during World Cup
7. Rana Daggubati extends KWAN South to Chennai
8. EU's Juncker, Trump to meet over security, economic priorities
9. Govt ready for discussion on any issue in Parliament: Modi
10. Calling for extensive discussion in Parliament's Monsoon session which began here today, Prime Minister Narendra Modi asserted that his government was ready for debate on any issue raised by political parties.
11. Woman Naxal killed in encounter with security forces in C'garh
12. A womanNaxal, carrying a reward of Rs 5 lakh on her head,waskilled in an exchange of fire with security forces in Chhattigsarh's Rajnandgaon district today, a senior police official said.
13. Wheat futures climb 1.15% on speculative buying
14. Wheat prices firmed up by 1.15 per cent to Rs 1,936 per quintal in futures market today as speculators built up fresh positions.
15. Swami Agnivesh blames RSS, BJYM for mob attack
16. PM Modi hopes for a fruitful monsoon session
17. Monsoon woes: Schools closed, 10 trains cancelled in Kerala
18. Four arrested for looting money using fake Facebook account
19. Four persons were arrested for allegedly looting Rs six lakh from a businessman after luring him to meet a girl in whose name a fake Facebook account was created in Bargarh district, the police said.
20. Nickel futures rise 0.34% on global cues, strong demand
21. Nickel prices strengthened by 0.34 per cent to Rs 926.70 per kg in futures trade today as participants raised bets amid a firm trend overseas and unabated demand from alloy-makers at the domestic spot markets.
22. 304 kg ganja seized in TN, three held
23. Nearly 304 kg ganja worth Rs 60 lakh, meant to be smuggled to Sri Lanka, was seized early today at Mandapam near here and three persons arrested in this connection, police said.
24. Woman, paramour booked for killing husband
25. A woman and her paramour were booked for allegedly poising her husband to death here, the police said today.
26. It is not easy to play one-off games, says Shardul Thakur
27. India pacer Shardul Thakur feels it is never easy to come off the bench and perform straight away in high-pressure games, and he too felt the heat in the series-deciding third and final ODI against England here.
28. Air China flights cut over vaping pilot emergency
29. Chinese authorities have cut flag carrier Air China's 737 flights and revoked the flying licences of the cockpit crew involved in a mid-air emergency sparked by a co-pilot's vape smoke, state media said today.
30. A Paul Walker documentary to premiere next month
31. Paramount Network is set to air a documentary on actor Paul Walker, best known for the "Fast and Furious" movies.
32. Indian junior women's hockey team beats Belgium in U-23 tourney
33. The Indian junior women's hockey Team defeated Belgium 2-0 to clinch its third consecutive victory at the Under-23 Six Nations Tournament here.
34. Mouni Roy bags third Bollywood film
35. Akzo Nobel misses second-quarter core earnings, sales forecasts
36. Volumes spurt at Quess Corp Ltd counter
37. Monarch Networth Capital gets registered to carry business of Portfolio Management Services
38. Medi Caps to conduct board meeting
39. Ashok Leyland hits over 5-month low; stock slips 8%
40. Ashok Leyland
41. As trade war looms over Hollywood, can Bollywood script a China fairy tale?
42. Esther Wojcicki On Raising Two Of The Nation's Most Successful Women Entrepreneurs
43. Channel - Block D - Billionaires - blog - Position 5 - Esther Wojcicki On Raising Two Of The Nation's Most Successful Women Entrepreneurs
44. A new Brexit plan creates fresh depths of chaos
45. American democracy’s built-in bias towards rural Republicans
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53. Violent Islamist groups are gaining strength in Africa
54. Trans masculine people are being excluded from the conversation
55. After two weeks
56. “Who is America?” contains genuine insight
57. Some gender-critical voices are not being heard as they should
58. What sovereignty means for America’s Indian tribes
59. France wins the World Cup
60. Nawaz Sharif returns to Pakistan
61. Text of the PM’s statement ahead of the beginning of the Monsoon Session of Parliament
62. PFRDA Invites Expression of Interest (EOI) for Actuarial Valuation of Atal Pension Yojana
63. Vice President & Chairman, Rajya Sabha urges ruling and opposition parties to stop blame game for House disruptions
64. 14.62 million Jobs created by Tourism sector in last 4 years: Shri K. J. Alphons
65. The Vice President and Chairman, Rajya Sabha, Shri M. Venkaiah Naidu conducting all party meeting, on the eve of Parliament Session, in New Delhi on July 17, 2018.
66. HDFC Bank to Deliver Best-in-class Customer Experiences Using Advanced Omnichannel Marketing Tools
67. EKAM Opens Their 2nd store in Mangalore, Showcasing Exclusive Collection of Home and Personal Care Products
68. PHNIX to Release New Heat Pump Hot Water Heaters with the Best Price-Quality Ratio in South Africa
69. Land dispute leaves 13 dead in Mexico
70. Netanyahu visits Israeli army's Gaza division amid escalation
71. When football's rising star Kylian Mbappe scored France's fourth goal in its World Cup final against Croatia to become the youngest player since Pele to score in a final, fans sent more tweets than at any other point during the tournament, data from Twitter shows.
72. After being on the run for more than two weeks, the prime suspect in the brutal murder of an SFI member in a Kerala college has finally been nabbed, police said on Wednesday.
73. Can a magnetic wire help early detection of cancer
74. Scientists, including one of Indian origin, have developed a magnetic device that could capture scarce and hard-to-capture tumour cells in the bloodstream, an advance that could lead to efficient and early detection of cancer.
75. Walmart expands Microsoft partnership to boost digital footprint
76. Facebook joins Skill India Mission to train empower youth
77. Apple, Facebook, Twitter celebrate World Emoji Day
78. Terms & Conditions
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85. Facebook shielding far-right activists, under-age accounts: Report
86. Here's what PM said before the session
87. 3 dead in Noida building collapse
88. Trump backtracks on Russian meddling
89. Webinar on design thinking for L&D leaders
90. Government ready to discuss any issue in house: PM Narendra Modi
91. Don’t scrap the rank of Brigadier say veterans
92. Marriage doesn't mean wife always ready for sex: Delhi High Court on marital rape
93. Marriage doesn't mean wife always ready for sex: HC
94. Lynch mobs are an Indian problem, not Whatsapp's
95. HDFC Bank, HDFC hit fresh 52-week high
96. Airtel, Videocon Ind touch fresh 52-week low
97. 25 years of pvt sector mutual funds: Do not go overboard, says Siva, the original midcap king
98. HDFC AMC IPO to open on July 25; sets price band at Rs 1,095-1,100
99. Time travel: World's oldest cuisines make way to Bengaluru's dining menu
100. Noida buildings collapse: 3 dead, several trapped
101. Idea Vodafone merger
102. 11:33 AM | 18 Jul
103. Ketto
104. Ad: Sterling Holidays
105. Stock market update: HDFC Bank, HDFC, L&T Infotech hit fresh 52-week high
106. Brokerages maintain divergent views on HUL despite steady Q1
107. Not yet time to start cherry picking in PSU banks: Mayuresh Joshi, Angel Broking
108. Stock market update: Prabhat Dairy, Vakrangee defy market trend, decline upto 7%
109. Will not supply advance information about witnesses: Prosecution to tell Court
110. Google Doodle honours Georges Lemaitre's Big Bang theory
111. Live: Ruckus in Lok Sabha over lynching incidents
112. en-gb2018-07-18T11:21:57+05:30
113. The market rally was driven by strong buying on the oil & gas, banking, PSU and realty counters and strength in the rupee.
114. This proposal was discussed by the Sebi-appointed Primary Market Advisory Committee last week.
115. The FMCG major on Monday reported at 19.17 per cent year-on-year jump in net profit.
116. SIP flow is still very strong. The entire financialisation theme probably continues.
117. In the Nifty pack, 33 stocks climbed while 17 fell by the wayside.
118. ONGC wants its interest to be clubbed with the 51 per cent government stake that is already on offer for sale, they said.
119. en-gb2018-07-18T11:31:05+05:30
120. en-gb2018-07-18T11:23:06+05:30
121. Live: Ruckus in Lok Sabha over lynching incidentsTrack this space to stay ahead and know about all the leading developments, burning issues of the day.
122. This proposal was discussed by the Sebi-appointed Primary Market Advisory Committee last week.
123. "SIP flow is still very strong. The entire financialisation theme probably continues.
124. The market rally was driven by strong buying on the oil & gas, banking, PSU and realty counters and strength in the rupee.
125. The NSE Nifty index was trading 47.10 points up at 11,055.15 amid buying by domestic institutional investors.
126. A man in UP’s Basti district was jailed for allegedly killing his 13-year-old son for not responding to him as the boy was busy playing games on a cellphone.
127. New Delhi: Is it necessary to produce two original keys to an insurance company to get compensation if a vehicle is stolen? While the insurance regulator, IRDA, doesn’t specify this and leaves it to individual companies, most of them follow this as a norm citing cases of fraudulent claims.Like many, it was a surprise for Suresh Kumar (name changed) of Delhi when he called up a government-owned insurance company seeking compensation for his Honda City car that was stolen from outside his house in February. “I never saw this condition of handing out two original keys in the insurance document I had signed. The agent told me the company can reject my claim, if I failed to do so. Fortunately, I had both of them,” he recalled.Even transport ministry officials said there could be cases where people may have lost one of their keys and would have got duplicate ones. “Such conditions should also be weighed while considering each case,” said an official.Some of the other conditions Suresh had to fulfil included getting an authority letter confirming he was the owner of the stolen vehicle despite having a valid RC. Even after all this and a fivemonth long ordeal, Suresh has yet to be compensated. He has been submitting and resubmitting a series of documents to both the insurance company and the Regional Transport Office (RTO) to get the claim. “While insurance company representatives assured me of closing the case soon after I escalated my complaint to the highest level, the local police says they will soon submit the ‘nottraceable’ certificate so that I get get the compensation. They are never keen to investigate the case simply because I have the insurance,” the victim told TOI.An IRDA office bearer said some of the companies may have formed their own norms to reduce their risk. “They must inform the vehicle owners about the conditions so that they don’t get stumped when the companies ask for the necessary documents. Consumer awareness is really inadequate,” he added.Even a top executive of the General Insurance Corporation (GIC) admitted that insurance firms have failed to spread awareness about such conditions.
128. Mumbai: Companies with delisting plans that have been stalled by minority shareholders seeking a vastly higher buyback price may soon get a respite. The Securities and Exchange Board of India (Sebi) is planning to introduce price bands in the delisting process that will mean investors having to tender shares within that range, said two people familiar with the proposals.The move is aimed at preventing investors from cornering shares and driving them up, well above the floor price, before they tender their shares, a move that has resulted in several delisting efforts being scuttled.“The price band will help streamline the delisting process and put an end to the cartelisation of a certain section of investors who demand hefty premiums during the reverse book-building process,” said a person aware of the plan. Others said such a move may unduly favour promoters.This proposal was discussed by the Sebi-appointed Primary Market Advisory Committee (PMAC) last week, said the people cited above. Sebi didn’t respond to queries.Currently, investors can demand anything above the floor price during reverse book building, which decides the price companies need to pay public shareholders to buy back shares to delist. The delisting price is the average of that sought by the majority of public shareholders. Companies and investment bankers allege that groups of investors corner shares and seek abnormally high prices to tender their shares.Several multinational companies that had planned to delist their Indian arms were forced to abandon the process because of this, experts said.“For promoting ease of doing business, it should be easier for opening and closing business, but with the current regulations and hefty premium demand from minority shareholders, it’s practically impossible for delisting any company,” said Dharmesh Mehta, managing director and CEO, Axis Capital. “With a cap on discovery price, both investors and promoters will benefit as the delisting process would be smoothened.”Companies such as Indo Tech Transformers, DIC India and Ricoh India among others have failed to delist in the recent past due to a rally in stock prices after making delisting announcements.US-based CSC globally acquired London-based Xchanging in 2016 and made an open offer for Xchanging Solutions, the Indian arm. After the company announced delisting plans, Xchanging Solutions more than doubled from Rs 50 in early May 2016 to a high of Rs 106.65 on August 31, against the offer price of Rs 40.51. The discovered price was Rs 109, which was not acceptable to the company, forcing it to scrap delisting plans and announce a fresh open-offer schedule.Valuation expectations start building even before the delisting process begins, according to bankers. A company in India can be delisted if an offer results in the promoter holding exceeding 90%, or the promoter acquiring at least 50% of the public holding, whichever is more.Minority shareholders have been expecting high valuations because of the delisting of a few multinationals at an attractive premium in the recent past.Earlier this year, US-based Virtusa Consulting Services, which had acquired Polaris Consulting & Services, announced a delisting offer at a floor price of Rs 232 and later gave an indicative price of Rs 370 per share. The stock price more than doubled after the announcement in mid-October 2017 until the last day of the offer on February 5, 2018. The company eventually accepted the ‘discovered’ price of Rs 480 as the exit price.Some said the move would benefit promoters.“Any price restriction on the discovery price is not in the interest of minority shareholders and Sebi as a market regulator should not favour only promoters,” said Ashok Bakliwal, former president, Bombay Shareholder’s Association and erstwhile member of several Sebi committees.The regulator will have to strike a balance between two competing interests â€" that of promoters looking to delist and minority investors seeking to exit at a better price, said a securities lawyer.“Sebi has to do the balancing act of ensuring that the same does not in any manner compromise the interests of the minority investors in terms of receiving a better final price,” said Vinay Chauhan, partner, Corporate Law Chambers India. “Clearly, fixation of price band is a subjective exercise and proper parameters will have to be laid down for the same, in order to avoid any unfairness or arbitrariness.”
129. The trade is in favour of private banks. Private retail banks are still expected to do well at the expense of public sector banks, Mayuresh Joshi, Fund Manager, Angel Broking, tells ET Now.Edited excerpts:There has been capital infusion in five PSU banks. When it comes to PSU banks, is it still a trade in favour of SBI versus the rest?The stress on the balance sheet of the PSU banks is so elevated that a large element of the capital infusion will probably go towards providing for the stress on the books. On the other hand, when you talk about a gradual recovery in the entire PSU banking universe, specifically in terms of the restrictions that have been put on terms of lending, you are looking at a dual kind of a scenario in terms of headwinds; elevated provisioning will probably take care of the stress on the balance sheet along with a very constrained lending. The balance sheet expansion itself looks very constrained and that is the whole logic of their price to book ratios remaining very low. There is still some time to cherry pick within the broader universe of PSU banks. State Bank of India has stood out but the stress is very evident in the system. A recognition of that probably can be seen on their balance sheet. The expectations and the kind of leverage that it can create through its network does stand out compared to its peers. But the trade still goes in favour of private banks. Selectively, banks within the retail universe on the private side are still expected to do well at the expense of public sector banks and with the stress expected to come out significantly as lending improves, the return ratios -- both ROAs and ROEs -- should improve. We remain positive on private sector banks like Yes Bank and RBL Bank probably remain top of our list.What do you expect from the consumer space, not specifically HUL but rather the likes of an ITC? There is always that valuation differential between the two and the market is not recognising the transition to the FMCG business which ITC is making just as yet. Once that comes through, and if they are able to do a good job, do you think that gap will narrow?It should. But it is a gradual process. The FMCG segment for ITC is currently around 13% odd. The kind of capital that ITC is expected to keep on pumping in specifically in the FMCG business, the expectations of return on capital employed from this vertical over the next few years assuming that the consumption story for India holds out pretty strong both on the urban and the rural side, should hold true for ITC as well. It should be a back-ended return in terms of accretion to ROC from the sub segment itself. The core business on the EBIT and the EBITDA fronts continues to cigarettes and with the extra levy and volume de-growth that has transpired on its cigarette vertical, hope has been pinned on the other verticals. A huge amount of capital is getting pumped in to probably garner more return on equity as well as return on capital employed. This can be a probable scenario over the next three to four years. In terms of valuations, when you do a comparative check with the other FMCG players, it is cheaply valued but for traction to come to the other businesses, investors might need to keep a long-ish horizon. The long-term outlook over the next two to three years probably appears a little bit rosy for ITC again. The earnings recovery should be gradual but from a valuation perspective, it does look attractive. We continue to have a positive outlook with a long-term view on ITC.What have you made of the TCNS Clothing and HDFC AMC IPOs? Anything which is an avoid or a subscribe for you?Vis-à-vis the HDFC AMC IPO, a large element in terms of financialisation of savings and the transitional shift that we have seen post demonetisation, has led to a paradigm shift in terms of SIP flows. Equity flows might have dipped or have seen a blip for a month, but SIP flow is still very strong. The entire financialisation theme probably continues. The normal valuation for an asset management business at around 7-7.5% of AUM. The HDFC AMC IPO is fairly valued on those aspects though detailed numbers are awaited. But, largely, over a longer period of time, these assets will make money and generate positive ROI, not just for the business but for the investors at large. Aditya Birla Capital which is also into this business looks equally attractive to us at this point of time. The diversified business that it probably possesses with the NBFCs growing at a very fast clip and the housing finance AUM growing at a fast clip, the asset quality stress is not that evident at this point of time.The AUM in the life insurance business also adds supports to the overall valuations for the company. Though HDFC AMC is positive over a longer term perspective, at this juncture, we will still continue to pursue Aditya Birla Capital on declines from a valuation and earnings perspective.Do you sense that the kind of strength and vigour that we have seen with some of the largecap IT names, could be replicated in NIIT or MindTree? We are expecting a weak performance from Mind Tree this quarter.It was expected. In this quarter, you might see the impact of both visa costs as well as wage hikes playing out on the EBIT margins. But what has stood the test of time for these midcap companies has been strong order flows in the range of $1-5 million odd. The execution happens at a very fast clip. For these companies, digital is 23-28% of their overall revenues. As the value migration starts happening more towards digital investments for these companies along with improved utilisation levels and the rupee acting as a tailwind, one can expect to see far better Q2 numbers which is also a very robust quarter for these companies. The general landscape retail manufacturing have been doing well; BFSI has been showing green shoots, aviation companies have evinced interest and so have the telecom or the communications companies. This will come through over a longer period of time. The enterprise business for a few of these midcap IT companies should hold out. So, selectively, IT companies look attractive from a long term perspective but the numbers are expected to be soft and on the weaker side specifically on the EBIT front.
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