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GROUP 5
National News Update
ICRA anticipated MPC of RBI to cut Repo rates by 25 basis points in August Policy
Review
FDI up by 23% at $10 billion during April-May as told by Nirmala Sitharaman
Big financial blow for NPA-laden banks as RBI unlikely to ease provisioning load
RBI stopped printing of 2000 rupee notes and aiming to focus on 200 notes
CCI approval for Vodafone-Idea $23 billion merger
International News Update
OPEC moves to cap Nigerian oil output, boost compliance
US Fed holds rates steady, expects portfolio cuts 'relatively soon
UK in $1.1 billion deal with EU to settle RBS state aid issues
Facebook shares hit record high as mobile ad sales soar
Foxconn announces U.S. manufacturing plant in Wisconsin
Samsung expects continued chip boom after record second-quarter profit
US sanctions have taken a big bite out of Russia's economy
Discovery in the lead to acquire Scripps Networks
Stock Market
ICICI Prudential Life Insurance Company Officials will meet IRDAI ( Insurance
Regulatory Authority of India) over the acquisition of Sahara Life Insurance.
Reliance Industry Ltd Acquired 24.92% stake of Balaji Telefilms Ltd. For Rs 413
crore.
GATI, the dominant player in logistics market is planning to acquire Vulcan
Express which is logistics arm of Snapdeal.
ONGC and HPCL merger has finally received in-principal approval from the
cabinet. The govt. is going to sell its entire stake of 51.11% in HPCL to ONGC.
Bajaj electricals has exercised its rights to acquire 28% stakes in Starlite Lightning
as the company had advance the sum of Rs 38 million as shortterm loan against
the collateral security of 28%.
Share holders of Reliance capital have approved the Demerger of Reliance
capital and Reliance home finance ltd. As Reliance home finance ltd. Was a
100% subsidiary of Reliance Capital and now the company itself has a portfolio
of 2 billion USD .
Commodities