Morning News Headlines
Economic Times
● Astron Paper & Board Mills IPO overall subscribed 242.72 times.
● Tata Steel's Rs 23,500-crore expansion plan gets thumbs up from brokerages
● Jindal Stainless pledges additional 15% shares in SBICAP Trustee Company.
● Reliance Group stocks rally, RCom zooms 40%.
● Kotak Mahindra Bank board hikes FII investment limit to 42%
Business Standard
● RCom surges 45% after NCLT adjourns hearing of insolvency petition.
● Religare Enterprises surges 5% after Edelweiss buys its securities biz.
● Bank of India falls 5% as RBI puts bank under Prompt Correction Framework.
● Morepen surges 18% on USFDA clearance for anti-asthmatic drug Montelukast.
● Maruti Suzuki: The Rs 125 stock that hit Rs 10,000 in 14 years.
● Maruti Suzuki joins Rs 3-lakh crore m-cap club; stock hits Rs 10,000.
● Tata Steel falls 2% after board approves fund raising through rights issue.
Mint
● Narendra Modi calls for strengthening BJP ahead of 2019 general election.
● RBI puts Bank of India under prompt corrective action
● HDFC Bank looks to raise Rs24,000 cr via share sale.
● Reliance Jio among 5 telecom firms that under-reported revenue: CAG.
● HDFC sells 6.3% in CAMS to Warburg Pincus arm for Rs210 crore.
● Rupee closes marginally lower against US dollar ahead of RBI minutes.
Reuters
● Varun Beverages To Acquire PepsiCo’s Franchised Sub-Territory In Jharkhand.
● Indian authorities weighing how to regulate cryptocurrencies: SEBI chief.
● U.S. House approves sweeping tax bill in a win for Trump.
● China to deepen reform, keep growth steady in 2018.
● Crude stocks drop more than expected - EIA.
● Aluminum under pressure after China smog cutbacks fall short.
