Daily Sector News Today – 07.09.2017
* AUTOMOBILE: Carmakers have petitioned the government and the Goods and Services Tax Council to create a separate category for mid-sized cars and not club them with high-end ones.
* COMMODITIES: The Food Safety and Standards Authority of India is looking at reducing the permissible limit for trans-fat in edible oils and spreads to 2% from 5%, Chief Executive Officer Pawan Agarwal said.
* CORPORATE: The government has announced steps to ensure funds are not siphoned off from companies that have been recently "struck-off" from the Registrar of Companies Act.
- Wadia group Chairman Nusli Wadia has urged SEBI to take action against three independent directors of the Tata group companies who he alleges made wrong declarations in annual reports.
* ECONOMY: Exports-to-GDP ratio of India must improve substantially, Commerce and Industry Minister Suresh Prabhu said.
* INFORMATION TECHNOLOGY: The government informed the apex court that it was contemplating a new statute on data protection.
* INSURANCE: Insurance Brokers Association of India supports the new regulatory norms allowing brokers to provide claims consultancy services, Sanjay Kedia, president of the association, said.
* MUTUAL FUNDS: The net inflow into equity and balanced funds in August was the highest monthly inflow in the current financial year 2017-18 (Apr-Mar), data from Association of Mutual Funds in India showed.
* OIL AND GAS: Essar Oil and Gas Exploration and Production plans to double coal bed methane production from its flagship Raniganj block in West Bengal by 2018.
* REGULATORY: SEBI is likely to propose tightening of listing criteria on the stock exchanges, at its upcoming board meeting on Sep 18.
* TELECOMMUNICATION: Mobile phone companies appear at odds with the TRAI's call to de-licence 1 MHz of spectrum from 867-868 MHz frequencies and another six units from the 915-935 MHz range for machine-to-machine communication services.
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* COMMODITIES: The Food Safety and Standards Authority of India is looking at reducing the permissible limit for trans-fat in edible oils and spreads to 2% from 5%, Chief Executive Officer Pawan Agarwal said.
* CORPORATE: The government has announced steps to ensure funds are not siphoned off from companies that have been recently "struck-off" from the Registrar of Companies Act.
- Wadia group Chairman Nusli Wadia has urged SEBI to take action against three independent directors of the Tata group companies who he alleges made wrong declarations in annual reports.
* ECONOMY: Exports-to-GDP ratio of India must improve substantially, Commerce and Industry Minister Suresh Prabhu said.
* INFORMATION TECHNOLOGY: The government informed the apex court that it was contemplating a new statute on data protection.
* INSURANCE: Insurance Brokers Association of India supports the new regulatory norms allowing brokers to provide claims consultancy services, Sanjay Kedia, president of the association, said.
* MUTUAL FUNDS: The net inflow into equity and balanced funds in August was the highest monthly inflow in the current financial year 2017-18 (Apr-Mar), data from Association of Mutual Funds in India showed.
* OIL AND GAS: Essar Oil and Gas Exploration and Production plans to double coal bed methane production from its flagship Raniganj block in West Bengal by 2018.
* REGULATORY: SEBI is likely to propose tightening of listing criteria on the stock exchanges, at its upcoming board meeting on Sep 18.
* TELECOMMUNICATION: Mobile phone companies appear at odds with the TRAI's call to de-licence 1 MHz of spectrum from 867-868 MHz frequencies and another six units from the 915-935 MHz range for machine-to-machine communication services.
