Today Sector News – 28.06.2018
* AVIATION: The government has started discussions for sale of Air India's building in Mumbai to
Jawaharlal Nehru Port Trust as part of its efforts to raise funds for the cash-strapped national carrier.
* CORPORATE: Former liquor baron Vijay Mallya has said his settlement offer before the Karnataka High Court was not motivated by the recent chargesheet filed under the fugitive ordinance.
* ECONOMY: The Union Cabinet had approved infusion of 20.00 bln rupees into the Export Credit
Guarantee Corp, with 14.50 bln rupees to be infused in the current financial year.
* OIL AND GAS: The Union Cabinet has approved setting up two more strategic petroleum reserves with a cumulative capacity of 6.5 mln tn at Chandikhol in Odisha and Padur in Karnataka.
-The US will ask all importers of Iranian crude oil, including India and China, to stop buying from the West Asian country by Nov 4, when the American trade sanctions on Iran take effect.
* REGULATORY: The BSE SME Platform hopes to list 300 companies on its platform by December this year.
* STEEL: Lenders have disqualified Liberty House's bid for Bhushan Power & Steel since it failed to provide critical information on funding arrangement for acquiring the bankrupt company within a timeframe despite repeated reminders.
* TELECOMMUNICATION: Licence fees paid by telecom services operators fell 5.5% sequentially to 29.32 bln rupees in the quarter ended March as an ongoing tariff war hit their revenues. Telecom Regulatory Authority of India is in the final stage of slapping penalty on operators who have not met call drop norms for the March quarter, Chairman R.S. Sharma said.
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Jawaharlal Nehru Port Trust as part of its efforts to raise funds for the cash-strapped national carrier.
* CORPORATE: Former liquor baron Vijay Mallya has said his settlement offer before the Karnataka High Court was not motivated by the recent chargesheet filed under the fugitive ordinance.
* ECONOMY: The Union Cabinet had approved infusion of 20.00 bln rupees into the Export Credit
Guarantee Corp, with 14.50 bln rupees to be infused in the current financial year.
* OIL AND GAS: The Union Cabinet has approved setting up two more strategic petroleum reserves with a cumulative capacity of 6.5 mln tn at Chandikhol in Odisha and Padur in Karnataka.
-The US will ask all importers of Iranian crude oil, including India and China, to stop buying from the West Asian country by Nov 4, when the American trade sanctions on Iran take effect.
* REGULATORY: The BSE SME Platform hopes to list 300 companies on its platform by December this year.
* STEEL: Lenders have disqualified Liberty House's bid for Bhushan Power & Steel since it failed to provide critical information on funding arrangement for acquiring the bankrupt company within a timeframe despite repeated reminders.
* TELECOMMUNICATION: Licence fees paid by telecom services operators fell 5.5% sequentially to 29.32 bln rupees in the quarter ended March as an ongoing tariff war hit their revenues. Telecom Regulatory Authority of India is in the final stage of slapping penalty on operators who have not met call drop norms for the March quarter, Chairman R.S. Sharma said.
