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Today Sector News – 10.07.2018

Today Sector News – 10.07.2018


* AUTOMOBILE: Honda Cars India will raise prices of its automobiles by 10,000-35,000 rupees with effect from Aug 1 due to higher costs.

* AVIATION: Passengers travelling from the Mumbai airport will pay lower fares if the two jet fuel pipelines owned by public sector undertakings are made accessible to private players as well, JET AIRWAYS (INDIA) and Emirates said. The Expert Appraisal Committee under the environment ministry has accorded permission to convert GMR Group's aviation special economic zone into multi-product special economic zone at Hyderabad's Rajiv Gandhi International Airport.

* CORPORATE: Former Tata Sons chairman Cyrus Mistry will challenge National Company Law Tribunal's ruling dismissing his lawsuit alleging mismanagement and oppression of the interest of minority shareholders by the Tata Group holding company.

* INFORMATION TECHNOLOGY: Accenture Plc expects to clock revenue of $9.8 bln-$10.05 bln in Jun-Aug quarter. The company, which has added $29.42 bln in the nine months to July 2018, expects its full-year revenue at $39.22 bln- $39.47 bln.

* INFRASTRUCTURE: The government today launched 'CITIIS', or Cities Investment to Innovate, Integrate and Sustain challenge, under which 15 projects from various smart cities will be selected for getting a loan of 100 mln euros (around 8.06 bln rupees) by Agence Francaise de Development, France's public development bank.

* RAILWAYS: The Indian Railways carried 99.46 mln tn of freight in June, up 4.9% on year, the railway ministry said. The Bombay High Court will hear on Jul 31 a plea filed by Godrej and Boyce Manufacturing Co against National High-Speed Rail Corp and the state and Union governments, seeking the court's intervention to ensure that an alternate route is chosen for the bullet train project.

* REGULATORY: BSE has postponed the launch of its new platform for listing start-ups.

* STEEL: UK-based Liberty House has approached the National Company Law Tribunal against the committee of creditors and resolution professional of Bhushan Power & Steel seeking information on the bid finalisation process of the firm.

* TAXATION: Attorney General of India has told a group of state ministers, formed to discuss levying cess on sugar, that the GST Council has the power to impose such a cess.

* TELECOMMUNICATION: The Telecom Regulatory Authority of India has floated a draft amendment to the tariff order for the sector, to remove redundant provisions in it, including deletion of the concept of pulse duration. Entrepreneur C. Sivasankaran has said he will take ousted Tata Sons chairman Cyrus Mistry to court for allegedly mismanaging and scuttling the planned sale of Tata Teleservices to Vodafone India, causing a 30-bln-rupee loss for the shareholderbusinessman.