Daily Sector News Today – 15.11.2017
* AGRICULTURE: The Centre has given its in-principle approval for 107 irrigation projects in Maharashtra, making 100 bln rupees available for the state exchequer in the next two years.
* AVIATION: The government will award routes under the second phase of the regional connectivity scheme on Dec 21, Civil Aviation Secretary R.N. Choubey said.
- SATS has showed interest in acquiring the ground handling operations of debt-laden Air India, a senior government official said.
- The civil aviation ministry will award routes under the second phase of the regional connectivity scheme on Dec 21.
* BANKING: The government has sought a special dividend from the Reserve Bank of India to fund a part of its 2.11-trln-rupee plan to recapitalise public sector banks.
* ECONOMY: Economic Affairs Secretary Subhash Garg has said he hoped that the rise in inflation for October was due to "seasonal" factors and that the number would continue to be "sub 4%". Commerce and Industry Minister Suresh Prabhu has signalled a shift in India's manufacturing and export strategy, with a focus on new emerging sectors such as genomics.
- The anchor portion of new fund offer of Bharat-22 was subscribed over five times.
* INFRASTRUCTURE: The first leg of the Delhi-Meerut Expressway, which includes India's first 14-lane highway and 2.5-mtr cycle track, will be completed by next month, Union Minister Nitin Gadkari said.
* INSURANCE: Life Insurance Corp has announced the launch of a cancer cover as a health insurance policy with sum assured ranging from 1-5 mln rupees.
* REGULATORY: National Stock Exchange has submitted to the SEBI a report prepared by EY on
allegations of preferential access to some traders from the exchange's co-location facility.
* SUGAR: The food ministry has pegged the country's sugar output for 2017-18 (Oct-Sep) at 24.85 mln tn, higher than 20.2 mln tn produced a year ago.
* TAXATION: Net direct tax collections in the current financial year ending March have been buoyant so far, Central Board of Direct Taxes Chairman Sushil Chandra said.
* TELECOMMUNICATION: Nokia will start production of its 5G AirScale base stations, which offer higher capacity for telecom service providers, at its Oragadam facility in Tamil Nadu.
- An international arbitration tribunal will begin trial in February 2019 on Vodafone's challenge to India using a retrospective legislation to seek 221 bln rupees in taxes.
- Vodafone Group Plc has valued its 42% stake in Indus Towers at $5 bln and its group CEO Vittorio Colao said the competitive South Asian telecom market was showing some positive signs amid rapid consolidation.
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* AVIATION: The government will award routes under the second phase of the regional connectivity scheme on Dec 21, Civil Aviation Secretary R.N. Choubey said.
- SATS has showed interest in acquiring the ground handling operations of debt-laden Air India, a senior government official said.
- The civil aviation ministry will award routes under the second phase of the regional connectivity scheme on Dec 21.
* BANKING: The government has sought a special dividend from the Reserve Bank of India to fund a part of its 2.11-trln-rupee plan to recapitalise public sector banks.
* ECONOMY: Economic Affairs Secretary Subhash Garg has said he hoped that the rise in inflation for October was due to "seasonal" factors and that the number would continue to be "sub 4%". Commerce and Industry Minister Suresh Prabhu has signalled a shift in India's manufacturing and export strategy, with a focus on new emerging sectors such as genomics.
- The anchor portion of new fund offer of Bharat-22 was subscribed over five times.
* INFRASTRUCTURE: The first leg of the Delhi-Meerut Expressway, which includes India's first 14-lane highway and 2.5-mtr cycle track, will be completed by next month, Union Minister Nitin Gadkari said.
* INSURANCE: Life Insurance Corp has announced the launch of a cancer cover as a health insurance policy with sum assured ranging from 1-5 mln rupees.
* REGULATORY: National Stock Exchange has submitted to the SEBI a report prepared by EY on
allegations of preferential access to some traders from the exchange's co-location facility.
* SUGAR: The food ministry has pegged the country's sugar output for 2017-18 (Oct-Sep) at 24.85 mln tn, higher than 20.2 mln tn produced a year ago.
* TAXATION: Net direct tax collections in the current financial year ending March have been buoyant so far, Central Board of Direct Taxes Chairman Sushil Chandra said.
* TELECOMMUNICATION: Nokia will start production of its 5G AirScale base stations, which offer higher capacity for telecom service providers, at its Oragadam facility in Tamil Nadu.
- An international arbitration tribunal will begin trial in February 2019 on Vodafone's challenge to India using a retrospective legislation to seek 221 bln rupees in taxes.
- Vodafone Group Plc has valued its 42% stake in Indus Towers at $5 bln and its group CEO Vittorio Colao said the competitive South Asian telecom market was showing some positive signs amid rapid consolidation.
