All Time Greats

Govt mulls sovereign bond issue overseas in FY19

Cogencis exclusively reported that the Indian government is discussing the option of its maiden sovereign bond issue in the overseas markets. According to the plan, which is at a nascent stage, the government may test waters with an initial issue in 2018-19.

  Apr 11, 2018

Fin min, RBI discuss possibility of extra borrowing by govt

Cogencis exclusively reported that officials of the finance ministry and the RBI discussed the possibility of an increase in government's borrowing in 2017-18. The report said borrowing could rise by as much as 1 trln rupees. On Dec 27, the government announced additional borrowing of 730 bln rupees through gilts and T-bills.

  Sep 29, 2017

RBI may up FPIs' corporate bond invest limit by $7 bln for Oct-Mar

Cogencis exclusively reported that the RBI is likely to increase FPIs' investment limit in corporate bonds by $7 bln in Oct-Mar. Cogencis also reported that the central bank may allow Masala bond issuances within the overall limit for external commercial borrowings. Four days later, the RBI increased the FPI limit in corporate bonds by 440 bln rupees ($6.8 bln) for Oct-Mar and made Masala bonds part of overall external commercial borrowings.

  Sep 18, 2017

RBI surplus may fall by over 300 bln rupees as note ban costs dearly

Cogencis had exclusively reported that RBI's surplus transfer to the government could fall by over 300 bln rupees as the central bank's income in 2016-17 (Jul-Jun) has been significantly depleted due to demonetisation and the management of its spillover effects. RBI transferred 307 bln rupees to the government for the year ended June, down 352 bln rupees from 659 bln transferred for 2015-16.

  Jul 14, 2017

Fin min top advisers call MPC members for meeting ahead of RBI policy

Cogencis broke the story that top finance ministry officials have called the members of Monetary Policy Committee for a meeting, a week ahead of the June monetary policy review. The meeting, however, did not take place as all the MPC members declined the request of the finance ministry for the meeting.

  May 22, 2017

Govt mulls advancing presentation of Budget from FY18

Cogencis exclusively reported that the government is mulling advancing the presentation of the Union Budget from 2017-18 in a bid to pass it before the financial year ends on Mar 31. From 2017-18, the government advanced the Budget presentation date by about a month to Feb 1.

  Aug 17, 2016

North Block ‘charcha’ debates redrawing fiscal consolidation roadmap

Cogencis reported that the finance ministry is debating redrawing the fiscal consolidation roadmap, including fixing a higher fiscal deficit target for 2015-16. At a North Block Policy Charcha, a brainstorming session between economists and policymakers, a top finance ministry official advocated redrawing the roadmap to give a push to public investments in a bid to revive the economy. In the Budget for 2015-16, the first full Budget of the Modi government, the government announced redrawing of the fiscal consolidation roadmap and set a fiscal deficit target of 3.9% of GDP, instead of 3.6% projected in the roadmap.

  Jan 08, 2015

Source says Warren Buffet's Indian operations to shut ops in FY14

Cogencis exclusively reported that Berkshire India, a majority owned non-direct subsidiary of maverick billionaire investor Warren Buffett’s Berkshire Hathaway Inc has decided to close its existing insurance operations in India.

  Apr 01, 2014

RBI restarts SMO to oil cos to contain FX volatility

Cogencis, then NewsWire18, reported that the Reserve Bank of India, in a bid to curtail volatility in the foreign exchange, has restarted its special market operations by buying oil bonds from state-owned oil refiners in exchange for dollars.

  Mar 05, 2009

Govt may issue bonds to SBI in lieu of govt share in rights offer

Cogencis, then NewsWire18, reported that faced with fiscal constraints, the government may issue bonds to State Bank of India as its share in the bank's proposed rights offer. The government issued bonds worth nearly 100 bln rupees in February 2008 to retain its shareholding in India's largest bank.

  Oct 24, 2007

Vakrangee cancels 10-bln-rupee buyback, 2.5-bln-rupee dividend plan

Cogencis broke the story that Vakrangee Ltd has cancelled its proposed 10-bln-rupee share buyback and 2.5-bln-rupee dividend payout plan and that the company has changed its capital allocation policy. This news followed the abrupt resignation of the auditor and amid reports that the company was under a SEBI probe for manipulating share prices.     On Aug 9, SEBI said a probe had found that the promoters had bought shares beyond a threshold limit, which would have triggered an open offer to minority shareholders. The promoters were asked to make an open offer within 45 days.

  Jun 14, 2018

UCO Bank invites bids to sell 51% stake in two stainless steel cos

Cogencis exclusively reported that a consortium of lenders led by UCO Bank is looking to sell a controlling stake in two private stainless steel product companies to recover combined debt worth 31.5 bln rupees.     Shares of UCO Bank, which were trading in the negative territory, surged 15% on the news.

  Nov 02, 2017

Bank-promoter tug of war may hit debt-laden steel assets' sale

A Cogencis 'Focus' said that the acquisition of distressed steel assets may not materialise soon as lenders are not likely to sell them cheap. The process could also see a delay as promoters of the companies that own the assets may submit red herring bids to acquire these assets in their personal capacity. Of the total steel sector assets up for sale, three-fourth were with Bhushan Steel and Essar Steel. Well over a year of being referred to the NCLT, only Bhushan Steel's assets have been sold.

  Oct 16, 2017

Ericsson India files insolvency case against RComm with NCLT

Cogencis exclusively reported that Ericsson India Pvt Ltd had filed an insolvency case against Reliance Communications Ltd for failing to pay over 1.25 bln rupees in dues. This resulted in Reliance Communications not being able to close the merger of operations with Aircel Ltd, thereby delaying sale of tower assets to Brookefield Assest Management and also the sale of wireless assets to Reliance Industries Ltd.

  Sep 13, 2017

Reliance Jio announces new tariff plans; effectively raising ARPU

Cogencis exclusively reported that Reliance Jio Infocomm Ltd is set to announce new prepaid and postpaid tariff plans for 349 rupees and 399 rupees, signalling that data tariffs could be on the rise. The story was widely followed up by other media houses and, also quoted by competition.

  Jul 11, 2017

Competition Commission asks Sun-Ranbaxy to modify deal to get merger OK

Cogencis exclusively reported that the Competition Commission of India had rejected a merger between Sun Pharmaceutical Industries Ltd and Ranbaxy Laboratories Ltd in the form that was proposed and suggested remedial steps to the companies to secure approval. The companies had announced a merger on Apr 7, 2014. The merger was subsequently approved on Dec 8 with the merged entity being asked to sell seven drug formulations, to ensure that a monopoly does not emerge.

  Nov 28, 2014

Relief for Sun Pharma as Halol unit gets Dutch regulator's clearance

Cogencis exclusively reported that the Dutch drug regulator has approved Sun Pharmaceutical Industries’ Halol unit for supplying drugs to The Netherlands. This is a big development for the company as the Halol unit, which supplies drugs to the US, has received strictures from the US FDA for violation of good manufacturing practices. Sun Pharma shares had not regained ground since the US FDA’s strictures on the Halol unit. The approval by Dutch authorities signalled that the Halol unit could be US FDA compliant. And that could be the next big announcement from the company.

  Jan 11, 2014

Oil min OKs plan for petrol, diesel futures; ball in SEBI court now

Cogencis exclusively reported that petroleum ministry had given its approval for futures trade in petrol and diesel that would enable fuel dealers to hedge price risks. Indian Commodity Exchange's proposal to offer futures contracts in petrol and diesel is now awaiting a go-ahead from market regulator Securities and Exchange Board of India.

  May 28, 2018

Govt to soon make it mandatory for mills to export 2.0-2.5 mln tn sugar

Cogencis exclusively reported that the Indian government had decided to make it mandatory for sugar mills to cumulatively export 2.0-2.5 mln tn sugar by September to reduce the glut in the domestic market. The decision was notified the next day.

  Mar 28, 2018

SEBI OKS universal bourses for stock, commodity trading from Oct 1

Cogencis broke the news that market regulator Securities and Exchange Board of India had decided to cross-listing of products across commodity and stock exchanges, paving the way for unified exchanges. The regulator later confirmed the development.

  Dec 28, 2017

Govt may hike import duty on edible oils, allow chana, masur exports

Cogencis exclusively reported that the government was planning to increase import duties on edible oils and yellow peas, and allow exports of key pulses such as chana and masur to ensure an increase in farm-gate prices of these commodities and reduce stress in the farm sector. The decisions were notified within a month.

  Nov 01, 2017

About 2 mln tn wheat goes missing from central pool

Cogencis exclusively reported that 2.1 mln tn wheat, enough to meet demand under state-run welfare schemes for a whole month, had disappeared from government books. At that time, the government said the discrepancy may be due to an accounting error, the stocks did not fully reflect in the books even in subsequent months. Probably, the gap was the result of over-stating of government stocks in a year of shortage.

  May 19, 2016

FMC to discontinue commodity futures trade on Saturdays

Cogencis exclusively reported that then commodity derivatives regulator Forward Markets Commission had decided to discontinue trading in commodity futures on Saturdays and extend trading hours in commodities that track global prices to align the Indian markets with the world markets. Both decisions were implemented from Apr 1, 2015.

  Mar 11, 2014

Cabinet panel clears decontrol of sugar industry

Cogencis broke the news that Cabinet Committee on Economic Affairs had scrapped the monthly sugar sale quotas imposed on sugar mills and also abolished mills' sugar sales at subsidised prices to fair price shops, effectively decontrolling the sugar sector.

  Apr 04, 2013

Govt ups food grain issue price for above poverty line families after 9 yrs

Cogencis, then NewsWire18, exclusively reported that the government had increased the price at which it sells wheat and rice to above poverty line families by about 40%. The increase was widely criticised, and was rolled back within a month.

  Jan 06, 2011

FMC suspends sugar futures trade till Dec 31 on supply concerns

Cogencis, then NewsWire18, reported that the then commodity derivatives regulator Forward Markets Commission had suspended futures trade in sugar as prices had shot up due to low supply. Wholesale sugar prices had risen 70% in five months to 30 rupees a kg at that time, as India's sugar production had fallen 40% that year to 14.7 mln tn.

  May 26, 2009
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