Daily Sector News Today – 19.09.2017
* AUTOMOBILE: Minister Gadkari plans to generate a cost-effective and economically viable transport system in urban areas, by introducing electric mobikes and two-wheeler taxis.
* AVIATION: Domestic airlines carried 9.7 mln passengers in August, 15.6% higher than a year ago, with INTERGLOBE AVIATION-run IndiGo retaining its top slot in terms of market share, according to data released by Directorate General of Civil Aviation. The Airports Authority of India will undertake redevelopment projects at airports in Lucknow and Allahabad in Uttar Pradesh, Deoghar in Jharkhand, and will also build a new airport at Rajkot in Gujarat.
* COMMODITY: Trading in negotiable warehouse receipts will be launched next week, when two repository record-keeping agencies start operations.
* CORPORATE: Cyrus Mistry family-promoted firm Cyrus Investments asked directors of Tata group firms, including TATA STEEL, TATA MOTORS and TATA POWER, to vote against the move to convert Tata Sons into a private firm. Reliance Group firm Unlimit and US-based IBM have entered into a partnership to jointly develop internetof-things solutions.
* E-COMMERCE: Tata Group is venturing into online grocery business under Starquik brand, taking on Amazon and Bigbasket.
* ENERGY: Power company Mytrah Energy has announced raising 18 bln rupees from Piramal Group's financial services companies in the form of non-convertible debentures.
* EXCHANGES: The BSE will levy a fee on members whose order-to-trade ratio is high and request count is over 1 mln per day in equity segment to curb potential manipulation. The Reliance ADAG-anchored Indian Commodity Exchange has decided to offer computer-to-computer link trading facility to its members.
* INFRASTRUCTURE: Calling public-private partnership or build-operate-transfer models ideal for
infrastructure projects, Minister for Road Transport and Highways Nitin Gadkari said the ministry will also adopt the toll-operate-transfer model in about six months.
* RAILWAYS: Indian Railways may halt a $2.6 bln order to General Electric to manufacture diesel
locomotive engine to make way for cleaner energy, said a source.
* REALTY: Canadian pension fund--Caisse de depot et placement du Quebec—is in advanced talks with Prestige Group to invest $200 mln in commercial real estate assets of the latter.
* REGULATORY: SEBI, at its board meeting, allowed real estate investment trusts and infrastructure
investment trusts to raise funds through debt.
* TECHNOLOGY: Google announced the launch of its mobile payment application 'Tez' for India, integrated with the government-backed Unified Payments
Interface.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India released a consultation paper on promoting local manufacturing of telecom equipment.
Vodafone India has tied up with mobile maker Lava International to offer its customers using Lava phones a cash-back of a total of 900 rupees over 18 months.
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* AVIATION: Domestic airlines carried 9.7 mln passengers in August, 15.6% higher than a year ago, with INTERGLOBE AVIATION-run IndiGo retaining its top slot in terms of market share, according to data released by Directorate General of Civil Aviation. The Airports Authority of India will undertake redevelopment projects at airports in Lucknow and Allahabad in Uttar Pradesh, Deoghar in Jharkhand, and will also build a new airport at Rajkot in Gujarat.
* COMMODITY: Trading in negotiable warehouse receipts will be launched next week, when two repository record-keeping agencies start operations.
* CORPORATE: Cyrus Mistry family-promoted firm Cyrus Investments asked directors of Tata group firms, including TATA STEEL, TATA MOTORS and TATA POWER, to vote against the move to convert Tata Sons into a private firm. Reliance Group firm Unlimit and US-based IBM have entered into a partnership to jointly develop internetof-things solutions.
* E-COMMERCE: Tata Group is venturing into online grocery business under Starquik brand, taking on Amazon and Bigbasket.
* ENERGY: Power company Mytrah Energy has announced raising 18 bln rupees from Piramal Group's financial services companies in the form of non-convertible debentures.
* EXCHANGES: The BSE will levy a fee on members whose order-to-trade ratio is high and request count is over 1 mln per day in equity segment to curb potential manipulation. The Reliance ADAG-anchored Indian Commodity Exchange has decided to offer computer-to-computer link trading facility to its members.
* INFRASTRUCTURE: Calling public-private partnership or build-operate-transfer models ideal for
infrastructure projects, Minister for Road Transport and Highways Nitin Gadkari said the ministry will also adopt the toll-operate-transfer model in about six months.
* RAILWAYS: Indian Railways may halt a $2.6 bln order to General Electric to manufacture diesel
locomotive engine to make way for cleaner energy, said a source.
* REALTY: Canadian pension fund--Caisse de depot et placement du Quebec—is in advanced talks with Prestige Group to invest $200 mln in commercial real estate assets of the latter.
* REGULATORY: SEBI, at its board meeting, allowed real estate investment trusts and infrastructure
investment trusts to raise funds through debt.
* TECHNOLOGY: Google announced the launch of its mobile payment application 'Tez' for India, integrated with the government-backed Unified Payments
Interface.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India released a consultation paper on promoting local manufacturing of telecom equipment.
Vodafone India has tied up with mobile maker Lava International to offer its customers using Lava phones a cash-back of a total of 900 rupees over 18 months.
