SECTORS NEWS TODAY – 12.09.2016
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
Click Here & Register To Get 2 days Trial Tips
* AGRICULTURE: New crop moong arrivals have begun in Rajasthan and Madhya Pradesh and are
expected to further pull down prices, which are already below the Centre-mandated minimum support
prices. The government has bought 20 tn moong since it started procuring the commodity across six
states this week.
India's total acreage in 2016-17 kharif season so far is up 4.2% on year at 105.45 mln ha, according to
data from the agriculture ministry. The government is looking at a series of reforms for the agriculture sector in the run-up to the assembly polls in five states including Uttar Pradesh and Punjab.
* AVIATION: Minister of State for Civil Aviation Jayant Sinha said the government is looking at a six-year plan to upgrade airport infrastructure in order to ensure capacity is not a constraint for growth. Air India is looking at restructuring working capital loans worth 280 bln rupees and has requested SBI Caps to examine the possibility of converting part of the working capital debt into equity.
* BANKING: The finance ministry has revised the recapitalisation norms wherein the second tranche of infusion in public sector banks will be based on cost of operations and recovery and quality of credit on the basis of risk-weighted assets.
Finance Minister Arun Jaitley will meet heads of state-owned banks on Friday to review their performance for the quarter ended June. The Reserve Bank of India has directed all banks to accept cash, irrespective of the amount, for payments made under the Income Declaration Scheme, 2016.
* DIVESTMENT: The government has shortlisted Citibank, Morgan Stanley and ICICI Securities to kickstart sale of shares held by the Specified Undertaking of Unit Trust of India in various companies.
* E-COMMERCE: Amazon and Flipkart plan 'great festival' sales in October.
* ECONOMY: The central government's outstanding borrowing from the Reserve Bank of India under
the ways and means advances facility was 91.36 bln rupees as on Sep 2 as per the Weekly Statistical
Supplement released on Friday.
* MINING: A majority of villagers have given a go-ahead to expansion of Adani Group's Kete Basan and
Parsa East coal blocks in Chhattisgarh's Sarguja district.
* MUTUAL FUNDS: The mutual fund industry saw an increase of 1.14%, or 559,265 folios, in total
accounts in August at 49.80 mln, led by more folios of equity, income and balanced schemes, according
to data released by the Securities and Exchange Board of India.
* OIL AND NATURAL GAS: India aims to reduce its hydrocarbon imports by 10% by 2022 by increasing domestic output, fuel efficiency and the use of alternative energy, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan said.
* PHARMACEUTICALS: More essential drugs are likely to come under price control with the government expected to decide on the matter in a meeting scheduled for this week. The government has mooted a proposal to set up at least six laboratories across the country to test drugs, medical devices and cosmetics, but the plan may face delays as several state governments are yet to respond to requests for land.Private equity firm Actis Capital is looking at selling majority stake in Indore-based Symbiotec Pharmalab at a valuation of $400 mln.
* POWER: Hindustan Powerprojects is looking at selling around 300 MW of solar assets to fund
expansion and also provide an exit route to current investors such as Blackstone.
* RAILWAYS: Indian Railways will not rollback premium pricing that it had announced for some trains despite the flak from commuters, but will not look at extending the scheme to other trains for the time being.
* STEEL: The steel ministry has extended the date of enforcement of Stainless Steel Products (Quality Control) Order, 2016 by another three months to December.
* STOCK MARKETS: The Securities and Exchange Board of India is considering allowing foreign portfolio investors to become members of stock exchanges.
The capital market regulator may in its upcoming board meet later this month, consider asking
companies to seek minority shareholders' approval to Grant special rights to private equity investors.
* TAXATION: The Central Board of Direct Taxes has extended the deadline for companies to file income
tax returns to Oct 17 from Sep 30, according to a government release.
* TELECOMMUNICATION: Incumbent operators will enter bilateral talks with Reliance Jio Infocomm to resolve the issue of providing interconnectivity to the latter's users, Cellular Operators Association of India Director General Rajan S. Mathews said.
The Telecom Regulatory Authority of India has told India's top telecom cos and Reliance Jio Infocomm to resolve the contentious interconnect matter among themselves, but warned that it would act if quality of service drops and consumers suffer.
Vodafone and state-owned Bharat Sanchar Nigam have signed a 2G intra-circle roaming pact in a bid to reduce call drops. TRAI is likely to reject incumbent mobile operators' demand for a higher
interconnect fee.
* TRANSPORT: The government is looking at setting a maximum cap to check surge pricing by cab
aggregators such as Uber and Ola, especially in the economy taxi segment.
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
* AGRICULTURE: New crop moong arrivals have begun in Rajasthan and Madhya Pradesh and are
expected to further pull down prices, which are already below the Centre-mandated minimum support
prices. The government has bought 20 tn moong since it started procuring the commodity across six
states this week.
India's total acreage in 2016-17 kharif season so far is up 4.2% on year at 105.45 mln ha, according to
data from the agriculture ministry. The government is looking at a series of reforms for the agriculture sector in the run-up to the assembly polls in five states including Uttar Pradesh and Punjab.
* AVIATION: Minister of State for Civil Aviation Jayant Sinha said the government is looking at a six-year plan to upgrade airport infrastructure in order to ensure capacity is not a constraint for growth. Air India is looking at restructuring working capital loans worth 280 bln rupees and has requested SBI Caps to examine the possibility of converting part of the working capital debt into equity.
* BANKING: The finance ministry has revised the recapitalisation norms wherein the second tranche of infusion in public sector banks will be based on cost of operations and recovery and quality of credit on the basis of risk-weighted assets.
Finance Minister Arun Jaitley will meet heads of state-owned banks on Friday to review their performance for the quarter ended June. The Reserve Bank of India has directed all banks to accept cash, irrespective of the amount, for payments made under the Income Declaration Scheme, 2016.
* DIVESTMENT: The government has shortlisted Citibank, Morgan Stanley and ICICI Securities to kickstart sale of shares held by the Specified Undertaking of Unit Trust of India in various companies.
* E-COMMERCE: Amazon and Flipkart plan 'great festival' sales in October.
* ECONOMY: The central government's outstanding borrowing from the Reserve Bank of India under
the ways and means advances facility was 91.36 bln rupees as on Sep 2 as per the Weekly Statistical
Supplement released on Friday.
* MINING: A majority of villagers have given a go-ahead to expansion of Adani Group's Kete Basan and
Parsa East coal blocks in Chhattisgarh's Sarguja district.
* MUTUAL FUNDS: The mutual fund industry saw an increase of 1.14%, or 559,265 folios, in total
accounts in August at 49.80 mln, led by more folios of equity, income and balanced schemes, according
to data released by the Securities and Exchange Board of India.
* OIL AND NATURAL GAS: India aims to reduce its hydrocarbon imports by 10% by 2022 by increasing domestic output, fuel efficiency and the use of alternative energy, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan said.
* PHARMACEUTICALS: More essential drugs are likely to come under price control with the government expected to decide on the matter in a meeting scheduled for this week. The government has mooted a proposal to set up at least six laboratories across the country to test drugs, medical devices and cosmetics, but the plan may face delays as several state governments are yet to respond to requests for land.Private equity firm Actis Capital is looking at selling majority stake in Indore-based Symbiotec Pharmalab at a valuation of $400 mln.
* POWER: Hindustan Powerprojects is looking at selling around 300 MW of solar assets to fund
expansion and also provide an exit route to current investors such as Blackstone.
* RAILWAYS: Indian Railways will not rollback premium pricing that it had announced for some trains despite the flak from commuters, but will not look at extending the scheme to other trains for the time being.
* STEEL: The steel ministry has extended the date of enforcement of Stainless Steel Products (Quality Control) Order, 2016 by another three months to December.
* STOCK MARKETS: The Securities and Exchange Board of India is considering allowing foreign portfolio investors to become members of stock exchanges.
The capital market regulator may in its upcoming board meet later this month, consider asking
companies to seek minority shareholders' approval to Grant special rights to private equity investors.
* TAXATION: The Central Board of Direct Taxes has extended the deadline for companies to file income
tax returns to Oct 17 from Sep 30, according to a government release.
* TELECOMMUNICATION: Incumbent operators will enter bilateral talks with Reliance Jio Infocomm to resolve the issue of providing interconnectivity to the latter's users, Cellular Operators Association of India Director General Rajan S. Mathews said.
The Telecom Regulatory Authority of India has told India's top telecom cos and Reliance Jio Infocomm to resolve the contentious interconnect matter among themselves, but warned that it would act if quality of service drops and consumers suffer.
Vodafone and state-owned Bharat Sanchar Nigam have signed a 2G intra-circle roaming pact in a bid to reduce call drops. TRAI is likely to reject incumbent mobile operators' demand for a higher
interconnect fee.
* TRANSPORT: The government is looking at setting a maximum cap to check surge pricing by cab
aggregators such as Uber and Ola, especially in the economy taxi segment.
