Today Sector News – 08.02.2018
* AUTOMOBILE: Toyota Kirloskar Motor has unveiled its Yaris sedan in the highly-competitive premium sedan segment. Bookings for the car will open from April.
* AVIATION: Air India's regional carrier Alliance Air has signed a three-year agreement with Pratt & Whitney Canada to deliver fleet maintenance services and support for PW127M engines.
* BANKING: The Insolvency and Bankruptcy Board of India has changed some rules relating to functioning of resolution professionals.
* ECONOMY: The Cabinet has approved a new turnover-based classification for micro, small, and medium enterprises.
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions Corp expects its topline to increase to $16 bln-$16.30 bln in 2018 from $14.81 bln the previous year.
* INFRASTRUCTURE: The government has extended the deadline for submitting bids for the road projects it plans to sell through the toll-operate-transfer mode by over two weeks to Feb 24 from Thursday.
* INSURANCE: Manufacturers Life Insurance has emerged as a lead contender to acquire a controlling stake in insurance firm IDBI Federal for about $550 mln-$650 mln.
* MUTUAL FUNDS: The Securities and Exchange Board of India has allowed independent directors or trustees who have been on the boards of asset management and mutual fund companies for nine years to continue for two more years.
* OIL AND GAS: The Union Cabinet approved raising the target for the Pradhan Mantri Ujjwala Yojana to cover 50 mln households from the initial target of 30 mln.
* REALTY: Brotin Banerjee, managing director and chief executive officer of Tata Housing Development Co, has resigned from the company citing 'personal reasons'.
* TELECOMMUNICATION: The telecom ministry hopes to place the proposed New Telecom Policy before the Cabinet for approval by April.
CLICK HERE
*********************************************************************************
* AVIATION: Air India's regional carrier Alliance Air has signed a three-year agreement with Pratt & Whitney Canada to deliver fleet maintenance services and support for PW127M engines.
* BANKING: The Insolvency and Bankruptcy Board of India has changed some rules relating to functioning of resolution professionals.
* ECONOMY: The Cabinet has approved a new turnover-based classification for micro, small, and medium enterprises.
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions Corp expects its topline to increase to $16 bln-$16.30 bln in 2018 from $14.81 bln the previous year.
* INFRASTRUCTURE: The government has extended the deadline for submitting bids for the road projects it plans to sell through the toll-operate-transfer mode by over two weeks to Feb 24 from Thursday.
* INSURANCE: Manufacturers Life Insurance has emerged as a lead contender to acquire a controlling stake in insurance firm IDBI Federal for about $550 mln-$650 mln.
* MUTUAL FUNDS: The Securities and Exchange Board of India has allowed independent directors or trustees who have been on the boards of asset management and mutual fund companies for nine years to continue for two more years.
* OIL AND GAS: The Union Cabinet approved raising the target for the Pradhan Mantri Ujjwala Yojana to cover 50 mln households from the initial target of 30 mln.
* REALTY: Brotin Banerjee, managing director and chief executive officer of Tata Housing Development Co, has resigned from the company citing 'personal reasons'.
* TELECOMMUNICATION: The telecom ministry hopes to place the proposed New Telecom Policy before the Cabinet for approval by April.
