Daily Sector News Today – 25.07.2017
* AUTOMOBILES: The government has no plan to cut import duty on electric vehicles or on lithium
batteries used to run them, a government official said.
* AVIATION: Air Asia India is likely to break-even or report profit by 2019, said Chief Executive Officer Amar Abrol.
* CORPORATE: The National Company Law Appellate Tribunal today reserved its order on pleas filed by ousted Tata Sons Ltd chairman Cyrus Mistry against the company.
* ECONOMY: The Reserve Bank of India has mandated that members of the Monetary Policy Committee must observe a "blackout period" extending seven days on either side of the day they vote on monetary policy.
- Finance Minister Jaitley said the government will go ahead with operational electoral bonds for
political funding if parties don't give any suggestion.
- Maharashtra Chief Minister Devendra Fadnavis said the state government would make a special
provision of 200 bln rupees to part-finance the 340.22-bln-rupee farm loan waiver it announced in June.
* INFRASTRUCTURE: The government envisages an investment of 6.9 trln rupees by 2021-22 (Apr-Mar) under phase-1 of the Bharatmala Pariyojana.
* INSURANCE: Sahara Group chief Subrata Roy met the chairman of Insurance Regulatory and
Development Authority of India to seek time to improve the financial position and corporate governance of Sahara Life Insurance.
* OIL AND GAS: The price of petrol has been hiked by 4 paise per ltr for Tuesday to 64.57 rupees in Delhi, according to the website of INDIAN OIL CORP. The price of diesel has been increased by 1 paisa per ltr to 54.95 rupees.
- A section of beleaguered gas-based power producers has written to the prime minister against the
special favours being given to Ratnagiri Gas and Power. These firms have sought a "level-playing field for all gas-based power plants".
- The Directorate General of Hydrocarbons has appointed Mjunction Services to build a platform for ebidding, e-evaluation of bids and e-allocation of oil and gas fields.
* PHARMACEUTICALS: A joint venture between Swiss drug maker Roche and India's Emcure
Pharmaceuticals to manufacture and distribute two drugs may end.
* STEEL: Essar Steel told the National Company Law Tribunal that the insolvency petition was incomplete and not maintainable.
* TELECOMMUNICATION: The Department of Telecommunications and the finance ministry have agreed on relief measures for the debt-laden telecom sector.
* AUTOMOBILES: The government has no plan to cut import duty on electric vehicles or on lithium
batteries used to run them, a government official said.
* AVIATION: Air Asia India is likely to break-even or report profit by 2019, said Chief Executive Officer Amar Abrol.
* CORPORATE: The National Company Law Appellate Tribunal today reserved its order on pleas filed by ousted Tata Sons Ltd chairman Cyrus Mistry against the company.
* ECONOMY: The Reserve Bank of India has mandated that members of the Monetary Policy Committee must observe a "blackout period" extending seven days on either side of the day they vote on monetary policy.
- Finance Minister Jaitley said the government will go ahead with operational electoral bonds for
political funding if parties don't give any suggestion.
- Maharashtra Chief Minister Devendra Fadnavis said the state government would make a special
provision of 200 bln rupees to part-finance the 340.22-bln-rupee farm loan waiver it announced in June.
* INFRASTRUCTURE: The government envisages an investment of 6.9 trln rupees by 2021-22 (Apr-Mar) under phase-1 of the Bharatmala Pariyojana.
* INSURANCE: Sahara Group chief Subrata Roy met the chairman of Insurance Regulatory and
Development Authority of India to seek time to improve the financial position and corporate governance of Sahara Life Insurance.
* OIL AND GAS: The price of petrol has been hiked by 4 paise per ltr for Tuesday to 64.57 rupees in Delhi, according to the website of INDIAN OIL CORP. The price of diesel has been increased by 1 paisa per ltr to 54.95 rupees.
- A section of beleaguered gas-based power producers has written to the prime minister against the
special favours being given to Ratnagiri Gas and Power. These firms have sought a "level-playing field for all gas-based power plants".
- The Directorate General of Hydrocarbons has appointed Mjunction Services to build a platform for ebidding, e-evaluation of bids and e-allocation of oil and gas fields.
* PHARMACEUTICALS: A joint venture between Swiss drug maker Roche and India's Emcure
Pharmaceuticals to manufacture and distribute two drugs may end.
* STEEL: Essar Steel told the National Company Law Tribunal that the insolvency petition was incomplete and not maintainable.
* TELECOMMUNICATION: The Department of Telecommunications and the finance ministry have agreed on relief measures for the debt-laden telecom sector.
