Daily Sector News Today – 06.11.2017
* AVIATION: Air India is looking to raise loans worth $535 mln to finance acquisition of three Boeing planes. Air India is in advanced discussions with STATE BANK OF INDIA for sale of at least two residential properties that could net nearly 500 mln rupees.
* BANKING: The finance ministry may infuse about 700 bln rupees through recapitalisation bonds in public sector banks in the next four months.
* CONSUMER DURABLES: Everstone will enter in exclusive talks with the promoters Kenstar to acquire it after Advent International and CROMPTON GREAVES CONSUMER ELECTRICAL pulled out of the race.
* DEFENCE: A joint venture between Swedish defence giant Saab and the Adani group is looking at producing a broad portfolio of products including unmanned aerial vehicles and helicopters for the Indian armed forces.
* ECONOMY: The noose around shell companies has tightened as the government has banned 58,000 bank accounts of 35,000 alleged shell companies who have deposited and withdrawn over 170 bln rupees during since demonetization. The government is considering parking a large chunk of the central public sector enterprises' "reserves and surpluses" with a special purpose vehicle, to impart more efficiency.
* FINANCE: The government's latest tranche of sovereign gold bonds has been priced at 2,934 rupees per gm for the subscription period of Nov 6-8.
* FUNDS: The board of L&T Infra Debt Fund plans to raise up to 3 bln rupees through non-convertible debentures on a private placement basis. ICICI Prudential Asset Management Co has launched a 7.5-bln-rupee fund to invest in rent earning office properties.
* INFRASTRUCTURE: The National Highways Authority of India has barred 20 companies from bidding for any of its projects till Mar 28, Chairman Deepak Kumar said. He did not name the companies.
* OIL AND GAS: The Philippines-based Atlantic Gulf & Pacific Company (AG&P) has signed a pact with Karaikal Port to develop a liquefied natural gas import terminal at the port located in Puducherry.
* SHIPPING: The government has extended the period for the Coastal Berth Scheme, the financial assistance plan for port development, by three years to March 2020.
* TELECOMMUNICATION: The Department of Telecommunications is looking to speed up the process of offering spectrum in the E- and V-bands to operators, Telecom Minister Manoj Sinha said. Telecom companies are said to have urged the government to radically reform the licensing regime in the new telecom policy to allow them to offer all services to compete with data-based call-service providers such as WhatsApp and Skype.
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* BANKING: The finance ministry may infuse about 700 bln rupees through recapitalisation bonds in public sector banks in the next four months.
* CONSUMER DURABLES: Everstone will enter in exclusive talks with the promoters Kenstar to acquire it after Advent International and CROMPTON GREAVES CONSUMER ELECTRICAL pulled out of the race.
* DEFENCE: A joint venture between Swedish defence giant Saab and the Adani group is looking at producing a broad portfolio of products including unmanned aerial vehicles and helicopters for the Indian armed forces.
* ECONOMY: The noose around shell companies has tightened as the government has banned 58,000 bank accounts of 35,000 alleged shell companies who have deposited and withdrawn over 170 bln rupees during since demonetization. The government is considering parking a large chunk of the central public sector enterprises' "reserves and surpluses" with a special purpose vehicle, to impart more efficiency.
* FINANCE: The government's latest tranche of sovereign gold bonds has been priced at 2,934 rupees per gm for the subscription period of Nov 6-8.
* FUNDS: The board of L&T Infra Debt Fund plans to raise up to 3 bln rupees through non-convertible debentures on a private placement basis. ICICI Prudential Asset Management Co has launched a 7.5-bln-rupee fund to invest in rent earning office properties.
* INFRASTRUCTURE: The National Highways Authority of India has barred 20 companies from bidding for any of its projects till Mar 28, Chairman Deepak Kumar said. He did not name the companies.
* OIL AND GAS: The Philippines-based Atlantic Gulf & Pacific Company (AG&P) has signed a pact with Karaikal Port to develop a liquefied natural gas import terminal at the port located in Puducherry.
* SHIPPING: The government has extended the period for the Coastal Berth Scheme, the financial assistance plan for port development, by three years to March 2020.
* TELECOMMUNICATION: The Department of Telecommunications is looking to speed up the process of offering spectrum in the E- and V-bands to operators, Telecom Minister Manoj Sinha said. Telecom companies are said to have urged the government to radically reform the licensing regime in the new telecom policy to allow them to offer all services to compete with data-based call-service providers such as WhatsApp and Skype.
