Financial News
6 April 2021

Ø  ICRA warns of a significant jump in bad loans in the current fiscal year
Ø  U.S. service sector activity index jumps to record high in March: ISM survey
Ø  Housing sales up 44 per cent in January-March 2021 across 8 cities: Report
Ø  J.P. Morgan ties up with BillDesk for online payments partnership
Ø  NCL supplies 87 pc of total coal to power producers in FY21
Ø  JSPL reports a 20% rise in annual sales for FY 21, production up by 19% year-on-year
Ø  Radiance buys Azure’s 152 MW solar rooftop assets

Ø  India attracts over $72 bn FDI in Apr-Jan FY21; Japan leads the list: Govt
Ø  Bank of India to allot preferential shares to govt for Rs 3,000 crore
Ø  Oil prices drop below $64 as rising OPEC+, Iranian output weighs
Ø  Byju’s acquired Aakash Edu Services for nearly $1 bn over a Zoom call
Ø  CareerLabs raises $2.2 mn from Rocket Internet’s VC fund GFC, others
Ø  US FDA nod to Teva for key speciality product to weigh on Sun Pharma
Ø  HDFC Bank’s advances grow 14% YoY in Q4; sequentially up 4.6%

The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 – 04.04.2021 

Ø  Manufacturing PMI falls to 7-month low of 55.4 in March
Ø  Marico expects low double-digit bottom-line growth in Q4 of FY21
Ø  Radiance Renewables acquires solar rooftop assets of Azure Power for ₹536.5 crore
Ø  CareerLabs secures $2.2 million in a new financing round
Ø  BEL bags 12 Green Channel Certificates for 41 products
Ø  iD Fresh Food revenue up 23.5% at ₹294 crores in FY21

Ø  Govt amends insolvency law; introduces pre-packaged resolution process for MSMEs
Ø  NHAI files draft prospectus for first InVIT; plans to raise at least ₹5,100 cr
Ø  India well-armed to combat downside risk of second covid wave: Finance Ministry
Ø  Russia’s revival is an opportunity for EM investors
Ø  Shriram Properties to file draft papers for ₹800 crore IPO

Ø  RBI’s MPC starts deliberating on the next monetary policy
Ø  Sugar sales hit due to COVID-19; cooperative mills seek more time to clear unsold quota: NFCSFØ  Adani Ports acquires residual 25 pc stake in Krishnapatnam Port for Rs 2,800 cr
Ø  LG to exit loss-making mobile phone business worldwide