Market news on May 2, 2016

Business Standard
Ø  IRNSS to free India from dependence on US, Russia
Ø  TCS, HDFC Bank, ONGC add Rs 34,256 cr in m-cap
Ø  India ready to clear $6.5 billion of Iran's oil dues
Ø  SBI may be told to merge five associate banks
Ø  Tata Power set to buy Welspun’s wind, solar assets
Ø  Real Estate Bill is an act now, may protect home buyers
Ø  India can save $50 billion if logistics costs are lowered: Study

Ø  India Inc generous with dividends in tough times
Ø  ICICI Bank top-brass foregoes performance bonus
Ø  Commodity market getting back on its feet, turnover jumps 9%
Ø  Petrol price hiked by 1.06 a litre, diesel 2.094 paise
Ø  Coal supply to power sector ticks up 6% to 408 MT in 2015-16
Ø  Punjab may get Centre's support for agri dues
Ø  India is the next China as appetite for smartphones defy global trend
Business Line
Ø  ‘Get emotionally attached to problems, not solutions’
Ø  Central staff may be allowed to invest 50% in equity under NPS
Ø  Benami Transactions Prohibition: Consider fresh Bill, Parliamentary Panel tells Govt
Ø  Crop protection players bank on rains
Ø  ‘India will not yield on services at RCEP trade talks’
Ø  Oberoi Realty net dips to Rs 65 cr
Mint
Ø  EU may appoint negotiator for bilateral trade pact with India
Ø  Convergys in talks to buy Minacs for $500 million
Ø  ONGC, Oil India may seek cost recovery on marginal fields
Ø  BSE, NSE fail to get nod for commodity trading platforms
Ø  Rajasthan invites private firms to manage power distribution
Ø  Warren Buffett says hedge funds get ‘unbelievable’ fees for bad results
Financial Express               
Ø  Vedanta unit seeks rollover of $ 1.25 bn loan from Cairn India
Ø  Flying from IGI Airport gets cheaper
Ø  FPIs stay glued to Indian market, put in USD 2.2 bn in April
Ø  CAIT urges stock limit on importers to curb pulse prices
Ø  Steady economic growth fails to revive job market: Report
Ø  Just 1% of population pay taxes; Over 5k paid more than Rs 1crore

Financial Chronicle
Ø  FIPB clears Rs 13,000cr FDI proposals
Ø  CAG seeks review of incentives to gems and jewellery sector
Ø  Debt MF best bet in times of falling FD rates
Ø  Gold is looking bullish and on track to surprise us
Ø  Supply side response needed for oil price recovery
Ø  Cautious trading expected on thinning FPI inflow