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Apple Promises Not to Disturb et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jul 30, 2018 1:03 PM 2 min read

End of Day Wrap-up (Monday / July 30, 2018) #Reliance #HDFC #Apple #India #Post #payments #AmericanExpress #Transfin

Editor's Comment: Reliance Retail kicks-off online sales of smartphones, TVs, refrigerators, ACs etc. Target categories comprise 55-60% of Amazon and Flipkart's business. Reliance Retail will differentiate by its in-house service wing, ResQ. Reliance Digital and smaller Jio stores to act as fulfilment centres for online orders.


HDFC Q1 net profits rise 54% YoY to INR2,190cr and net income rises 20% YoY to INR 9,952cr. Percentage of Net NPA to net advances have gone down from 0.44% to 0.41%. Also, the board has also approved to raise INR35,000cr through bonds.


Apple reportedly developing an app to comply with Indian Do Not Disturb (DND) regulations. Apple initially protested saying it falls outside the scope of telecom regulators.


India Post Payments Bank expected to live in August, kicking-off in 650 branches, covering 170m accounts. RBI gives clearance to start operations post testing. India Post Payments Bank is the 3rd entity to receive payments bank license after Paytm and Airtel. Under this license it is allowed to collect deposits and make money by charging margins on payment transactions. Payment banks are not permitted to conduct lending operations.


Bank of England expected to raise its key rate by 25 basis points to 0.75% on coming Thursday. BOE's Monetary Policy Committee to vote 7-2 in favour of the quarter point increase as per consensus. First rate rise since last November.


American Express allegedly increased FX conversion rates without notifying business clients to boost revenues, as per WSJ. Practice cited by current and former employees to ongoing from 2004 to early this year.