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market watch Awaiting clarity on AGR, 29-10-2019 % CHANGE Sensex dddddddddddddddddddddd 39,832 ddddddddddddddd1.48 IndiGo soars with $33­bn A320neo order US Dollardddddddddddddddddddd 70.84 ddddddddddddddd0.08 Gold ddddddddddddddddddddddddddd 38,857 ddddddddddddd-1.39 Bharti defers Q2 results Brent oil ddddddddddddddddddddd 61.62 ddddddddddddddd0.16 300­plane order is Airbus’ largest ever with a single airline; to take IndiGo’s A320neo count to 730 ‘Moving DoT to arrive at total amount’ SPECIAL CORRESPONDENT economic growth and mobil­ IndiGo is keen on the MUMBAI ity,” Ronojoy Dutta, CEO, In­ A321XLR, which is the next Special Correspondent matter arising out of recent N IFTY 50 InterGlobe Aviation Ltd., diGo, said in a statement. evolutionary step from the NEW DELHI judgment of Hon’ble Su­ PRICE CHANGE which runs India’s biggest “India is expected to con­ A321LR, and which provides Bharti Airtel has deferred preme Court.” Adani Ports...... 398.95...... -0.85 airline IndiGo has placed an tinue with its strong aviation more range and payload. the release of its earnings re­ In a communique to the Asian Paints...... 1814.25...... 21.65 order for 300 A320neo fami­ growth and we are well on This aircraft will help IndiGo port for July­September stock exchanges, the com­ Axis Bank ...... 738.45...... 28.35 ly aircraft worth over $33 bil­ our way to build the world’s to fly long haul routes. Bajaj Auto ...... 3180.75...... 37.40 2019 quarter till November pany added that it was ap­

Bajaj Finserv...... 8150.90. .... 149.40 lion (₹2,31,000 crore) in list best air transportation sys­ The aircraft will deliver an 14, as it seeks clarity and go­ proaching the Department Bajaj Finance ...... 4047.25...... 68.35 price to support its growth tem to serve more customers extra long range of up to vernment support over the of Telecom to seek “clarity Bharti Airtel ...... 359.90...... -13.20 plans. and to deliver on our pro­ 4,700 nautical miles, with dues of about ₹42,000 crore on the total amounts in­ BPCL...... 522.90...... -3.90 This marks one of Airbus’ mise of providing low fares 30% lower fuel burn per seat it owes to the exchequer fol­ volved and request for their Britannia Ind ...... 3352.50...... 93.40 largest aircraft orders ever and a courteous, hassle­free compared with previous lowing the recent Supreme support to deal with this ad­ Cipla ...... 473.05...... 12.00

Coal India ...... 209.75...... 6.90 with a single airline operator. experience to them,” he generation competitor jets. Court judgment on calcula­ verse outcome”.

Dr Reddys Lab ...... 2802.50...... 16.90 This order from IndiGo said. In June this year, IndiGo tion of adjusted gross reve­ “The board of directors, Eicher Motors...... 22049.40. .... 725.75 comprises a mix of A320neo, had placed an order to buy nue in favour of the at its meeting held today, GAIL (India)...... 125.85...... 2.20 A321neo and A321XLR air­ Fuel efficient engines worth $20 billion for government. has accepted the manage­ Grasim Ind ...... 714.75...... 11.75 craft. This will take IndiGo’s Extra mile: The aircraft is expected to deliver an additional “The fuel­efficient A320neo its future fleet of aircraft or­ The company’s board of ment’s recommendation HCL Tech...... 1139.75...... 9.25 total number of A320neo fa­ * B.VELANKANNI RAJ family aircraft will allow In­ dered before the current HDFC ...... 2113.05...... 7.70 long range of up to 4,700 nautical miles . directors were to meet on and deferred the agenda

HDFC Bank...... 1242.50...... 4.80 mily aircraft orders to 730. diGo to maintain its strong one. Tuesday to approve the au­ item relating to the approval Hero MotoCorp ...... 2701.55...... 32.65 The airline did not provide craft, operating alongside chitect of IndiGo’s fleet ac­ focus on lowering operating “This new order is on ex­ dited financial results for of the said financial results Hindalco ...... 184.30...... 2.20 the break­up of the mix and 128 A320ceos. quisition, induction and net­ costs and delivering fuel effi­ pected lines. It will be for the second quarter and half till Thursday, November 14, Hind Unilever ...... 2160.20...... 20.45 time of delivery of the air­ work planning. Currently, ciency with high standards both replacement of fleet year ended September 30, 2019,” it added. ICICI Bank ...... 477.40...... 7.85 craft. Gangwal not in picture both founders are locked in a of reliability. The choice of and to meet growth plans. 2019. As a result of the Su­ IndusInd Bank ...... 1315.30...... 38.65

Bharti Infratel ...... 193.15...... -19.10 Since its first A320neo air­ This is for the first time that feud. engine manufacturer for this Now, IndiGo will focus on in­ However, the manage­ preme Court decision, the

Infosys ...... 650.65...... 1.80 craft was delivered to IndiGo the airline has placed its big­ “This order is an impor­ order will be made at a later ternational markets includ­ ment recommended that industry, which is reeling Indian OilCorp...... 144.35...... 1.65 in March 2016, its fleet of gest ever aircraft order with­ tant milestone as it reiterates date,” said Riyaz Peermo­ ing medium to long haul this agenda be deferred till under a debt of about ₹4 ITC ...... 253.25...... 2.85 A320neo family aircraft has out the involvement of co­ our mission of strengthening hamed, chief Aircraft Acqui­ [routes],” said Kapil Kaul, November 14, 2019 “on ac­ lakh crore, might need to JSW Steel...... 234.25...... 14.90 grown into the world’s lar­ founder Rakesh Gangwal, air connectivity in India, sition and Financing Officer CEO South Asia, Centre for count of the fact that more pay about ₹1.42 lakh crore to Kotak Bank ...... 1575.55...... -17.45

L&T...... 1461.10...... 26.70 gest with 97 A320neo air­ who, till recently, was the ar­ which will, in turn, boost of IndiGo. Asia Pacific Aviation (CAPA). clarity is needed on the AGR the government.

M&M ...... 611.80...... 20.30

Maruti Suzuki ...... 7721.30. .... 299.20

Nestle India Ltd...... 14699.75. .. -113.65

NTPC ...... 119.90...... 1.10 ONGC ...... 142.15...... 2.30 Slowdown temporary, reforms PowerGrid Corp ...... 201.05...... -1.30 Automobile sales witness Diwali boom

Reliance Ind ...... 1467.05...... 32.80

State Bank ...... 280.65...... -1.15 Sun Pharma ...... 421.95...... 4.20 will reverse trend: Mukesh Up to 50% jump in PV retail sales in festival season was driven by discounts Tata Motors ...... 172.45...... 24.75

Tata Steel ...... 390.20...... 25.20 S pecial Correspondent the spokesperson said given sales had picked up this fes­ TCS ...... 2194.85...... 79.15 NEW DELHI Tech Mahindra ...... 754.75...... 28.00 ‘Steps taken since August will bear fruit in next few quarters’ the increasing interest of tive season and, compared

Titan ...... 1332.60...... 12.70 The festive season has customers, the auto giant with the previous festive sea­ UltraTech Cement...... 4117.70...... -72.20 PRESS TRUST OF INDIA slight slowdown [in the In­ from 8% recorded a year ear­ brought some relief to auto­ was “cautiously optimistic of son, it expected sales to be UPL...... 594.90...... -1.20 RIYADH dian economy]. But my own lier. This is the lowest makers, with passenger veh­ more growth while the offers “marginally positive, thanks Vedanta ...... 149.50...... 4.85 Industrialist Mukesh Amba­ view is that it is temporary,” growth reported since 2013 icle makers witnessing up to last.” to the biggest promotions ev­ Wipro ...... 255.20...... 1.55 ni on Tuesday said the slow­ he said at the Future Invest­ and has largely been attri­ a 50% jump in retail sales er had.” YES Bank...... 58.15...... 3.40

Zee Entertainment ...... 236.60...... -1.65 down in the Indian economy ment Initiative (FII) confe­ buted to the slowdown in in­ during the Diwali period — Dhanteras delivery Hyundai Motor India had was temporary and the re­ rence here. vestment that has now broa­ driven mainly by high dis­ Likewise, Mahindra and Ma­ sold about 12,500 cars on cent measures taken by the “All the reform measures dened into consumption, counts — as compared to the hindra said that on the day of Dhanteras alone, which was government would help re­ that have been taken in the driven by financial stress festive season last year. Dhanteras (October 25), the nearly 31% of the company’s EXCHANGE RATES verse the trend in the com­ last few months will see the among rural households and Even though this growth company delivered close to monthly sales in September. Indicative direct rates in rupees a unit except yen at 4 p.m. on October 29 ing quarters. outcome and I am quite sure weak job creation. comes on a low base of last 13,500 vehicles across the Rakesh Srivastava, manag­ CURRENCY TT BUY TT SELL Speaking at Saudi Arabia’s that in coming quarters this The government has ta­ year, it should be noted that country. ing director, Nissan India,

US Dollar...... 70.64...... 70.96 annual investment forum, will reverse,” he said. ken a string of policy mea­ auto sales have been declin­ “This figure was substan­ said following the launch of Euro ...... 78.36...... 78.71 also known as ‘Davos in the The Indian economy, sures over the past couple of ing for nearly a year. this joy, the day of Dhanteras tially higher than the deliver­ new model variants along British Pound...... 90.85...... 91.27 desert’, he said the reforms which, till recently was months to shore up the eco­ “We are happy to share alone witnessed a retail ies last year on Dhanteras,” with special financing offers, Japanese Yen (100) . .. . 64.88...... 65.18 Chinese Yuan ...... 10.00...... 10.04 undertaken by the Indian hailed as the fastest­growing nomy and revive credit. that customers have res­ growth of 49%,” a Tata Mo­ the company added. the company was seeing Swiss Franc ...... 70.98...... 71.31 government since August major economy, has seen its These measures should gra­ ponded well to our festive tors spokesperson told The The country’s largest car­ high traction in the form of Singapore Dollar ...... 51.84...... 52.07 Hindu Canadian Dollar...... 54.14...... 54.39 would bear fruit in the next growth rate decline in each dually improve the flow of offers as reflected in 50% . maker Maruti Suzuki did not increased enquiries across Malaysian Ringitt ...... 16.88...... 16.96 few quarters. of the past five quarters, fall­ credit and nudge up growth, more retail in the Diwali pe­ While the company did comment on the number of the country, including Tier 2 Source:Indian Bank “Yes, there has been a ing to 5% in April­June 2019 analysts have said. riod. Additionally, to double not share absolute numbers, vehicles sold, but said that and Tier 3 cities. Auto, metal stocks drive Govt. to work on relief package for telcos Adani, U.S. group to set Sensex up 581 points Industry stares at over ₹1.4 lakh­crore payout to exchequer up data centres in India Earnings, auto sales to drive indices Yuthika Bhargava voice and data, which falls in non­telecommunication bu­ To utilise infra developed by Adani NEW DELHI the realm of sectoral regula­ sinesses in calculating the SPECIAL CORRESPONDENT gaining over 4%, followed The government has consti­ tor TRAI, the source said. annual adjusted gross reve­ Special Correspondent ture is critical to enable a MUMBAI by capital goods, oil and gas tuted a Committee of Secre­ TRAI is expected to exa­ nue (AGR) of telecom com­ AHMEDABAD Digital India and this part­ Benchmark indices on Tues­ and banking, which were up taries (CoS), headed by Cabi­ mine prescribing a mini­ panies, a share of which is In a move to boost its foray nership leverages several of day rallied following gains in 1­1.2%,” said Ajit Mishra, V­P, net Secretary Rajiv Gauba, to mum charge for voice and paid as licence and spec­ into the data centre domain, the capabilities developed auto and metal stocks. The Research, Religare Broking. work out a relief package for data services to ensure long­ trum fee to the exchequer. Adani Group has announced by the Adani Group in power BSE Sensex closed at He said in the near term, the telecom sector, a move term viability and robust fi­ Following the order, the tel­ that it is partnering with San generation, transmission, 39,831.84, up 581 points, or markets are likely to be dri­ that may help mitigate the nancial health of the sector, cos may have to pay the go­ Francisco­based Digital retail electricity distribu­ a gain of 1.48%. Similarly, ven by earnings outcome impact of the more than ₹1.4 the source added. vernment ₹1.42 lakh crore Realty, a leading global pro­ tion, access to waterfronts the NSE Nifty closed at and auto volume numbers, lakh crore that the telcos The panel is expected to within three months. vider of data centre, co­loca­ through the ports business, 11786.85, up 159 points, or a a crucial indicator of revival may need to pay the exche­ submit recommendations in According to the DoT’s tion and interconnection and real estate manage­ gain of 1.37%. in consumer spending. quer following a recent Su­ Data price at an average of a time­bound manner. calculations, Bharti Airtel’s solutions. ment,” Gautam Adani, chair­ Top Sensex gainers in­ “Global cues will also in­ preme Court order. ₹8 per GB is perhaps the On Monday, Sunil Bharti liability stands at about The Gujarat­based $13­bil­ man of the Adani Group, clude Tata Motors at 16.63%, duce volatility as expecta­ The CoS will “examine all lowest in the world. Mittal of Bharti Airtel again ₹42,000 crore while Voda­ lion integrated business con­ said after the signing of the Tata Steel (9.09%), Yes Bank tions are high from the on­ aspects and suggest mea­ met Telecom Minister Ravi fone Idea may have to shell glomerate is setting up a me­ agreement. (6.3%), Axis Bank (4.06%) going U.S.­China trade talks. sures to mitigate the finan­ reduction in spectrum usage Shankar Prasad and Tele­ out about ₹40,000 crore. Re­ ga piece of data centre He added that with one of and Maruti, which gained The outcome of the U.S. Fed cial stress being faced by the charges and the Universal com Secretary Anshu Pra­ liance Jio may have to pay infrastructure in Hyderabad the top five renewable ener­ 4.01%. The bulls were back meet, scheduled for Octob­ telecom sector, keeping in Service Obligation Fund kash, while Kumar Manga­ about ₹13 crore. in Telangana. gy companies in the world, in action as the Indian mar­ er 29­30, will also influence view the larger public inter­ levy. lam Birla of Vodafone Idea Noting the gross revenue As per the Memorandum the group’s ability to power kets started the week on a trends,” he said. est and improving telecom “Representations have had sought time to meet the of the industry had fallen of Understanding signed data centres with solar and strong note led by positive Sameet Chavan, chief services for the subscribers,” been received from major te­ officials. between 2017­18 and 2018­19, between Adani Enterprises wind energy is unique and global cues. The BSE Mid­ analyst, Technical and De­ a source in the Department lecom service providers re­ the source said the price of Ltd. and Digital Realty, both addresses some of the chal­ cap and Smallcap indices rivatives, Angel Broking of Telecom (DoT) said. garding the financial stress ₹4 lakh­crore debt data for the customer at an firms will jointly evaluate de­ lenges of building and oper­ gained 1.1% and 0.6% res­ said, “Most of the global un­ The source added that the faced by them… the recent The industry’s debt current­ average of ₹8 per GB is per­ veloping and operating data ating data centres. pectively, yet underper­ certainty seems to have sub­ CoS will review various de­ Supreme Court order is ex­ ly stands at about ₹4 lakh haps the lowest in the world. centres, data centre parks “We are excited by the op­ formed the benchmark. sided. Tuesday’s rally had a mands made by the indus­ pected to further add to crore. Last week, the Su­ Additionally, the average re­ and cultivating undersea ca­ portunity to enter the Indian “Barring telecom, all sec­ broad­based participation try, including deferment of this,” the source said, adding preme Court upheld the go­ venue per user per month ble provider communities of market with the Adani tors witnessed buying inter­ and hence should be consi­ spectrum auction payment that a case is also being vernment’s position on in­ has declined from ₹174 in interest across India. Group,” Digital Realty CEO est, with metal and auto dered as a robust one.” due for the next two years, made for viable pricing for cluding revenue from 2014­15 to ₹l13 in 2018­19. “Data centre infrastruc­ A. William Stein said. RBI slaps ₹1 cr. Petronet profit LMW to make machinery penalty on Indian Bank to provide nearly doubles Bandhan Bank unsecured loans ‘on the go’ on lower tax for Japan’s DMG Mori SPECIAL CORRESPONDENT Press trust of india Mumbai Bank to focus on online sanctioning, disbursement: MD new delhi Company to produce about 10 units a month initially The Reserve Bank of India Petronet LNG Ltd. on Tues­ (RBI) has imposed a penal­ N. Anand sonal loan or vehicle loan day reported a near dou­ Special Correspondent LMW,” he said. ty of ₹1 crore on Bandhan CHENNAI and the tenure could range bling of net profit in Sep­ COIMBATORE Sanjay Jayavarthanavelu, Bank for violating licencing Public sector lender Indian from 12 months to 24 tember quarter as it Textile machinery and ma­ CMD, LMW, said the entire norms, the lender has in­ Bank is planning to provide months, she said. derived benefit of lower chine tools manufacturer machinery will be assem­ formed the exchanges. unsecured loans ‘on the go,’ The city­based bank has corporate tax rate. Lakshmi Machine Works bled here and supplied. According to RBI’s said a top official. been investing in manage­ Net profit in July­Sep­ (LMW) has started making While the critical parts will norms on universal bank­ “This is the one area we ment information systems, tember at ₹1,089 crore was vertical machining centre be imported, LMW will do ing licence, an entity which are thinking of taking for­ big data, data mining. “But, 90% higher than the (CMX 600 Vi VMC) for DMG value addition. The existing has received a banking li­ ward,” said Padmaja Chun­ these are all helpful to get ₹572.89 crore net profit in Mori for the Indian market. facilities have been upgrad­ cence needs to bring down duru, managing director basic information about a the same period, said com­ The machine tool division ed in some areas. the shareholding of its non­ and CEO, Indian Bank. customer. We will now in­ pany CEO and MD Prabhat of LMW will produce about “We have the capacity to operative financial holding “Now, on digital platforms Padmaja Chunduru vest in predictive tools to do Singh told reporters here. 10 units a month for DMG increase volumes,” he said. company, in this case many banks are giving per­ predictive analysis of a cus­ “Pursuant to the intro­ Mori initially. “The produc­ Masahiko Mori (right) and “The demand came from a Bandhan Financial Hold­ sonal loans. Indian Bank has the loan. However, with digi­ tomer. For this, we will tie­ duction of the lower tax tion volume will increase in Sanjay Jayavarthanavelu. product gap which is filled ings Limited, in the bank to not yet adopted [it] in full,” talisation, we will take for­ up with fintech firms to in­ rates for corporates by the stages,” according to a state­ * SPECIAL ARRANGEMENT by competitors. We realised 40% within three years she said. ward the process of online vest in mobile platforms and government for FY 2019­ ment from DMG Mori. we could fill it together with from the date of commen­ “Indian Bank had started sanctioning and disburse­ digitalisation,” she said. 20, the company has taken The production is out­ tential for DMG Mori, Masa­ the product (CMX 600 Vi cement of business. the practice of giving unse­ ment of loans,” she said. On the recent strike by the benefit of lower corpo­ sourced to LMW in India, hiko Mori, its president, in­ VMC). So, we came togeth­ Bandhan Bank started cured loans. But we are still Like any other financial the trade unions against the rate tax rate of 22% (as “which makes possible a formed the media here on er,” he said. functioning as a commer­ offering it as a SMS service institution, Indian Bank amalgamation of public sec­ against 30%) in the current shorter lead time until deliv­ Tuesday. In a communication to cial bank in August 2015 viz. the bank sends SMS to plans to offer unsecured tor banks, Ms. Chunduru quarter,” he said. ery than domestic produc­ “India is a growing mar­ the stock exchanges, LMW and they were to comply probable customers offering loan upwards of ₹20,000 said she had received posi­ “Due to the same, there tion in Japan,” the statement ket. We want to expand the has informed that the activi­ with the RBI norms by Au­ the loan. The customer has based on the salary slip of a tive feedback from the cus­ is a reversal of deferred tax added. customer base (in India) ty does not involve any addi­ gust 2018. to approach the bank to get customer. It could be a per­ tomers and staffers. liability of ₹380 crore.” India is a market with po­ with the collaboration with tional capital expenditure.

CM A ND-NDE YK