Evening News Round up

News Round-up 6-Aug:
*Rate cuts necessary but not sufficient for growth to accelerate: Macquarie

*India has higher growth potential than China: ANZ

*Govt should give priority sector to affordable housing: Anita Arjundas

*Piramal Enterprises Q1 net profit at Rs 2,896 cr

*Max Life Q1 profit up 9% at Rs 102 cr

*IDBI Bank Q1 net down 66% on lower interest income, bad loans; shares plunge

*Adani Ports Q1 net profit up 36% at Rs568 crore

*Adani Power’s Q1 net loss narrows to Rs303 crore

*Apollo Tyres net profit up 37% in June quarter

*CBI orders internal probe for Bhushan Steel exec’s escape; stk plunges 20% on heavy volumes

*Infosys hits five-month high on share buyback hopes

*HUL hits record high, jumps 4%; analysts bullish

*JB Chemicals confident of sustaining domestic growth; stock up 14%

*Facebook joins Cellular Operators Association of India as an associate member

*Royal Sundaram enters into bancassurance tie-up with DBS Bank

*Airtel partners with BGFIBank for mobile money services

*Haldia output snag may make downstream units fate uncertain

*Lanco Industries to expand its product range

*Lupin inks pact with S Korean firm to launch diabetes drug

*Ratan Tata to invest in e-commerce site Snapdeal, says report

*ITC most admired Indian company: Fortune-Hay Group study

*IL&FS Engineering gains on winning Rs 105 crore order

*Suven Life gets product patents from Australia and Eurasia

*Sanofi inks marketing pact with Emcure for cancer drugs

*Apollo Tyres to invest euro 500 mn in Eastern Europe

*Premature to scrap foreign limits in govt debt before rate hike cycle begins: Rajan

*Rupee falls to over 5-month low on global USD strength 

*Sensex closes 243 pts down; Nifty ends below 7700 amid global cues; banks falter

*India home to 14,800 multi-millionaires; 8th largest globally

*Fighting very hard to build inflation credibility: Rajan

*FX market interventions not part of liquidity management: RBI

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