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Morning News Round-up:

Ø  CAG spots Rs 9,034-crore financial lapses by PSUs

Ø  Govt notifies norms for composite cap on FDI

Ø  US economy posts solid 2.3 per cent growth rate in Q2

Ø  ‘Chinese economy facing issues but functioning well’

Ø  Blackstone sells stake in Agile including Tata unit

Ø  DRI detects 470 cases of misuse of export incentives

Ø  BofA-ML flags downside risk to $15 billion FPI inflow forecast

Ø  No govt nod needed for 49% FPI in most sectors

Ø  Moody’s expects RBI to cut rate to boost growth

Ø  Sebi probing UBS on round-tripping

Ø  RPower takes govt to court on Chhatrasal coal block cancellation

Ø  Dr Reddy’s Q1 net profit up 14% at Rs 625 cr

Ø   ‘82% of global Letters of Credit transactions are flawed’

Ø  US jobless claims increase, but still near cycle lows

Ø  Good investment opportunity in equities: Sinha

Ø  Production stabilising at new units of Vizag Steel Plant: CMD

Ø  IOC wants more of Cairn’s Rajasthan oil, but at ‘good price’

Ø  Essar Steel aims to be Flipkart of building biz

Ø  Gold set for biggest slump on Fed rate outlook

Ø  ITC Q1 net profit up 3.6%; agri business, cigarettes pull revenue down by 7%

Ø  BNP Paribas to buy retail brokerage Sharekhan for Rs2,200 crore

Ø  Foreign investment in AIFs to help start-ups, SMEs, infrastructure firms

Ø  Bank of Baroda Q1 profit drops 23% on higher provisioning

Ø  Oriental Bank of Commerce Q1 profit drops 29%
Ø  Not seeking refinancing under RBI’s 5/25 scheme: Hindalco

Ø  CAG spots Rs 9,034-cr financial lapses by various PSUs, including ONGC, NTC

Ø  CG to Support Smart Grid Deployment in Portugal

Ø  JSW Steel gets shareholders nod to raise up to Rs 14,000 cr

Ø  Tata Starbucks, Kellogg, McCain fail to get FSSAI approval

Ø  Kingfisher Airlines caused Rs 290 cr loss to AAI, says CAG

Ø  Even hallmarked jewellery vary in purity: WGC

Ø  Fund raising via retail NCDs slumps 85%

Ø  Glenmark Q1 net profit up 3.29% at Rs 191 cr

Ø  HCC Q1 profit plunges 70% to Rs 8 cr

Ø  LIC trims stake in Maruti to 6.22 per cent

Ø  Mutual funds go slow on equity investments in July

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