Daily Sector News Today – 10.10.2017
* AVIATION: Tata group Chairman N. Chandrasekaran unravelled his aviation strategy for the first time, saying the company might consider bidding for Air India.
* BANKING: The government has appointed executive directors at nine public sector banks, including PUNJAB NATIONAL BANK, CANARA BANK, and BANK OF INDIA, among others. The government has started an internal exercise to ascertain merger candidates from among the public sector banks.
* COAL: Coal stocks at power plants continue to be low at a fifth of the monitored power plants, giving an opportunity to gas-based projects to operate.
* CORPORATE: Stock exchanges have sent notices to listed companies that share directors, who have been disqualified for associating with other firms which haven't filed their financial statements or annual returns for three years. The firms need to explain why their directors have been disqualified
* ECONOMY: No further extension will be given to taxpayers for filing their Goods and Services Tax Return-1 for July, the finance ministry said.
* FUNDS: The Centre looks to raise as much as 120 bln rupees from retail investors this Diwali by
divesting holdings in 22 companies through the Bharat-22 exchange traded funds, sources said.
* INFRASTRUCTURE: The road transport and highways ministry's ambitious programme to construct 44 economic corridors at a cost of 5 trln rupees may get Cabinet nod soon. The National Highways Authority of India will raise another 70 bln rupees through masala bonds from London and Singapore stock exchanges during 2017-18 (Apr-Mar).
* OIL AND GAS: Saudi Aramco is actively considering an investment in the 60-mtpa mega refinery being set up by INDIAN OIL CORP, BHARAT PETROLEUM CORP, and HINDUSTAN PETROLEUM CORP, Chief Executive Officer Amin Nasser said. The United Petroleum Front, an umbrella body of petrol and diesel dealer unions, has threatened to go on an indefinite strike from Oct 27.
* POWER: Led by STATE BANK OF INDIA, lenders will invoke pledged shares to take control of Essar Power Gujarat, an arm of Ruias-promoted Essar Group.
* STEEL: The government has imposed definitive anti-dumping duty of $535-$546 per tn on wire rods of alloy or non-alloy steel from China.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India has issued a consultation paper on public protection and disaster relief.
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* BANKING: The government has appointed executive directors at nine public sector banks, including PUNJAB NATIONAL BANK, CANARA BANK, and BANK OF INDIA, among others. The government has started an internal exercise to ascertain merger candidates from among the public sector banks.
* COAL: Coal stocks at power plants continue to be low at a fifth of the monitored power plants, giving an opportunity to gas-based projects to operate.
* CORPORATE: Stock exchanges have sent notices to listed companies that share directors, who have been disqualified for associating with other firms which haven't filed their financial statements or annual returns for three years. The firms need to explain why their directors have been disqualified
* ECONOMY: No further extension will be given to taxpayers for filing their Goods and Services Tax Return-1 for July, the finance ministry said.
* FUNDS: The Centre looks to raise as much as 120 bln rupees from retail investors this Diwali by
divesting holdings in 22 companies through the Bharat-22 exchange traded funds, sources said.
* INFRASTRUCTURE: The road transport and highways ministry's ambitious programme to construct 44 economic corridors at a cost of 5 trln rupees may get Cabinet nod soon. The National Highways Authority of India will raise another 70 bln rupees through masala bonds from London and Singapore stock exchanges during 2017-18 (Apr-Mar).
* OIL AND GAS: Saudi Aramco is actively considering an investment in the 60-mtpa mega refinery being set up by INDIAN OIL CORP, BHARAT PETROLEUM CORP, and HINDUSTAN PETROLEUM CORP, Chief Executive Officer Amin Nasser said. The United Petroleum Front, an umbrella body of petrol and diesel dealer unions, has threatened to go on an indefinite strike from Oct 27.
* POWER: Led by STATE BANK OF INDIA, lenders will invoke pledged shares to take control of Essar Power Gujarat, an arm of Ruias-promoted Essar Group.
* STEEL: The government has imposed definitive anti-dumping duty of $535-$546 per tn on wire rods of alloy or non-alloy steel from China.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India has issued a consultation paper on public protection and disaster relief.
