Daily Sector News Today – 26.12.2017
* AUTOMOBILE: Andhra Pradesh plans to attract 300 bln rupees of investments in the electric-vehicles industry.
* AVIATION: The Airports Authority of India has firmed up plans to add 273 parking bays at 24 airports to help resolve parking woes of airlines. The Directorate General of Civil Aviation has granted flying permit to Air Deccan, a move that will enable the airline to operate flights under the regional connectivity scheme called UDAN.
* BANKING: The finance ministry has asked public sector banks to look at rationalising their domestic and overseas branches as part of the reform process to strengthen their financials.
* ECONOMY: Finance Minister Arun Jaitley on Friday put an end to rumours about the Reserve Bank of India holding back currency notes of 2,000 rupees denomination.
* FAST MOVING CONSUMER GOODS: The Supreme Court refused to stay the Karnataka High Court's Dec 15 judgement that paved way for smaller pictorial warnings on tobacco products. The apex court wants to read the judgement before deciding on any stay and has requested the high court to upload the same. The Chhattisgarh government has signed memorandum of understanding with three food processing firms, including Patanjali Ayurved, to set up processing units at an estimated investment of 7.62 bln rupees.
* INFRASTRUCTURE: The Mumbai Metropolitan Region Development Authority is set to spend about 630 bln rupees on a 157-km long five-corridor metro rail network in the city.
* INSURANCE: A senior finance ministry official said discussions are on with various states and central ministries to converge their individual schemes with Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana.
* RAILWAYS: The railways ministry is drawing up a 20-trln-rupee investment plan under which it will convert 10,000 km of its trunk routes into high-speed corridors and take up several other modernisation projects. Indian Railway Finance Corp is hopeful of raising 10 bln rupees from the recent issue of capital gains bonds.
* REGULATORY: The government is likely to give the Securities and Exchange Board of India the power to regulate private placements by any Indian entity at a time when the capital markets regulator is finalizing norms for crowd funding.
* STEEL: The domestic steel sector, which has been facing supply glut globally, is not able to seek much relief back home due to increase in input cost of coking coal.
* TELECOMMUNICATION: Entrepreneur C. Sivasankaran is set to take the Department Of Telecommunications to the Supreme Court in the wake of the 2G case acquittals, seeking 34 bln rupees that he said he lost after the apex court had cancelled 122 licenses, including six of STel's in 2012. Vodafone announced unlimited calls, 1GB per day data at rupees 198 to counter Jio Happy New Year offer. BSNL is seeking 5MHz spectrum in the 2100 MHz band, which it wants to partly fund by offering additional equity to the government.
* TRANSPORT: To power ambitious highway growth plans, National Highways Authority of India will soon come up with a bond issue offering attractive coupon rates of above 7%, Union Minister Nitin Gadkari said.
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* AVIATION: The Airports Authority of India has firmed up plans to add 273 parking bays at 24 airports to help resolve parking woes of airlines. The Directorate General of Civil Aviation has granted flying permit to Air Deccan, a move that will enable the airline to operate flights under the regional connectivity scheme called UDAN.
* BANKING: The finance ministry has asked public sector banks to look at rationalising their domestic and overseas branches as part of the reform process to strengthen their financials.
* ECONOMY: Finance Minister Arun Jaitley on Friday put an end to rumours about the Reserve Bank of India holding back currency notes of 2,000 rupees denomination.
* FAST MOVING CONSUMER GOODS: The Supreme Court refused to stay the Karnataka High Court's Dec 15 judgement that paved way for smaller pictorial warnings on tobacco products. The apex court wants to read the judgement before deciding on any stay and has requested the high court to upload the same. The Chhattisgarh government has signed memorandum of understanding with three food processing firms, including Patanjali Ayurved, to set up processing units at an estimated investment of 7.62 bln rupees.
* INFRASTRUCTURE: The Mumbai Metropolitan Region Development Authority is set to spend about 630 bln rupees on a 157-km long five-corridor metro rail network in the city.
* INSURANCE: A senior finance ministry official said discussions are on with various states and central ministries to converge their individual schemes with Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana.
* RAILWAYS: The railways ministry is drawing up a 20-trln-rupee investment plan under which it will convert 10,000 km of its trunk routes into high-speed corridors and take up several other modernisation projects. Indian Railway Finance Corp is hopeful of raising 10 bln rupees from the recent issue of capital gains bonds.
* REGULATORY: The government is likely to give the Securities and Exchange Board of India the power to regulate private placements by any Indian entity at a time when the capital markets regulator is finalizing norms for crowd funding.
* STEEL: The domestic steel sector, which has been facing supply glut globally, is not able to seek much relief back home due to increase in input cost of coking coal.
* TELECOMMUNICATION: Entrepreneur C. Sivasankaran is set to take the Department Of Telecommunications to the Supreme Court in the wake of the 2G case acquittals, seeking 34 bln rupees that he said he lost after the apex court had cancelled 122 licenses, including six of STel's in 2012. Vodafone announced unlimited calls, 1GB per day data at rupees 198 to counter Jio Happy New Year offer. BSNL is seeking 5MHz spectrum in the 2100 MHz band, which it wants to partly fund by offering additional equity to the government.
* TRANSPORT: To power ambitious highway growth plans, National Highways Authority of India will soon come up with a bond issue offering attractive coupon rates of above 7%, Union Minister Nitin Gadkari said.
