Daily Sector News Today – 09.11.2017
* AUTOMOBILE: Honda Motorcycle and Scooter India launched 125cc automatic scooter Grazia with a focus on the urban markets. Kinetic Group of India said it has inked a pact with Norton Motorcycles under which it will sell the British brand's bikes in India and other international markets like Bangladesh, Bhutan and Indonesia.
* BANKING: The Ministry of Shipping is in talks with foreign banks to raise a dollar-denominated loan of 60 bln rupees for the Indore-Manmad railway corridor. Fino Payments Bank has tied up with Mother Dairy and Gokul Dairy to facilitate digital payments to milk producers and pourers, by providing RuPay debit cards to them for digital transactions.
* ENERGY: A proposal to auction coal blocks for commercial mining is expected to get Cabinet approval this month, Coal Secretary Susheel Kumar said.
* COMMODITY: The recent hike in price of ethanol, bought by oil marketing companies from sugar mills, is likely to lead to a rise in the operating margins of fully integrated mills.
* CORPORATE: A Delhi court has initiated the process of declaring beleaguered businessman Vijay Mallya as a proclaimed offender on the charge of evading summons in a FERA violation case. The court has now given him the last opportunity to appear before it by Dec 18.
Securities and Exchange Board of India has charged 22 entities, including Gujarat Chief Minister Vijay Rupani's Hindu Undivided Family, for "manipulative trades" in Sarang Chemicals.
* ECONOMY: The finance ministry will submit a report detailing the impact of demonetisation to the Parliamentary Standing Committee on Finance on Thursday, a finance ministry official said.
India and the European Union chief trade negotiators will meet next week in New Delhi to hammer out a way forward for the long-pending free trade agreement negotiations between the two sides.
* FINANCE: The finance ministry has opposed raising the individual cap on foreign investment in power exchanges to 15% from the current 5% by treating them on par with stock and commodity exchanges.
* INFORMATION TECHNOLOGY: The labour commission of Karnataka has certified the formation of the Karnataka State IT/ITES Employees Union under the Trade Union Act, 1926, and Karnataka Trade Unions Regulations, 1958.
* TAX: The government has said it will look into giving respite to foreign banks from the additional cost of paying 18% integrated goods and services tax on services provided to their international offices.
* TELECOMMUNICATION: The Delhi High Court on Tuesday asked the income tax department to take a decision on all rectification applications of Vodafone Mobile Services within three weeks.
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* BANKING: The Ministry of Shipping is in talks with foreign banks to raise a dollar-denominated loan of 60 bln rupees for the Indore-Manmad railway corridor. Fino Payments Bank has tied up with Mother Dairy and Gokul Dairy to facilitate digital payments to milk producers and pourers, by providing RuPay debit cards to them for digital transactions.
* ENERGY: A proposal to auction coal blocks for commercial mining is expected to get Cabinet approval this month, Coal Secretary Susheel Kumar said.
* COMMODITY: The recent hike in price of ethanol, bought by oil marketing companies from sugar mills, is likely to lead to a rise in the operating margins of fully integrated mills.
* CORPORATE: A Delhi court has initiated the process of declaring beleaguered businessman Vijay Mallya as a proclaimed offender on the charge of evading summons in a FERA violation case. The court has now given him the last opportunity to appear before it by Dec 18.
Securities and Exchange Board of India has charged 22 entities, including Gujarat Chief Minister Vijay Rupani's Hindu Undivided Family, for "manipulative trades" in Sarang Chemicals.
* ECONOMY: The finance ministry will submit a report detailing the impact of demonetisation to the Parliamentary Standing Committee on Finance on Thursday, a finance ministry official said.
India and the European Union chief trade negotiators will meet next week in New Delhi to hammer out a way forward for the long-pending free trade agreement negotiations between the two sides.
* FINANCE: The finance ministry has opposed raising the individual cap on foreign investment in power exchanges to 15% from the current 5% by treating them on par with stock and commodity exchanges.
* INFORMATION TECHNOLOGY: The labour commission of Karnataka has certified the formation of the Karnataka State IT/ITES Employees Union under the Trade Union Act, 1926, and Karnataka Trade Unions Regulations, 1958.
* TAX: The government has said it will look into giving respite to foreign banks from the additional cost of paying 18% integrated goods and services tax on services provided to their international offices.
* TELECOMMUNICATION: The Delhi High Court on Tuesday asked the income tax department to take a decision on all rectification applications of Vodafone Mobile Services within three weeks.
