Daily Sector News Today – 09.08.2017
* AUTOMOBILES: Kia Motors plans to invest $2 bln in India over the next two years to set up a
manufacturing plant and develop a supplier base.
* COMMODITY: In July, tomato prices rose a whopping 167% on month in the country's retail markets, and 90.5% in wholesale markets.
* CORPORATE: Signet Industries said it was "surprised" to find its name among the 331 entities
suspected to be shell companies. The company said it would provide all necessary information to
regulators to resolve the issue.
* ECONOMY: Foreign portfolio investors are seeking clarity on the circular on participatory notes or
offshore derivative instruments, issued by the Securities and Exchange Board of India in July
* FINANCE: Nabsamruddhi Finance, the non-bank financial subsidiary of National Bank for Agriculture and Rural Development, is looking to expand its refinancing operations, especially those not a part of the agriculture sector.
* OIL & GAS: The price of petrol for Wednesday has been set at 66.81 rupees per ltr in Delhi, according to information available on state-owned INDIAN OIL CORP's website.
- Sun Oil and Natural Gas is close to acquiring Gujarat State Petroleum Corp's 66.67% stake in the
Hazira gas field in Gujarat.
* PHARMACEUTICALS: The Drug Controller General of India has got local drug makers to draw up an emergency plan on dealing with any blockade on shipments from China of active pharmaceutical ingredients or raw materials.
* POWER: Solar power developers who won the mega auction for 1,200 MW projects in Jharkhand 16 months ago have agreed to reduce tariffs, which will help them sign power purchase agreements.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India will shortly begin a
consultation process to address the issues of ownership, privacy and security of data which flows through the network of telecommunication companies.
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manufacturing plant and develop a supplier base.
* COMMODITY: In July, tomato prices rose a whopping 167% on month in the country's retail markets, and 90.5% in wholesale markets.
* CORPORATE: Signet Industries said it was "surprised" to find its name among the 331 entities
suspected to be shell companies. The company said it would provide all necessary information to
regulators to resolve the issue.
* ECONOMY: Foreign portfolio investors are seeking clarity on the circular on participatory notes or
offshore derivative instruments, issued by the Securities and Exchange Board of India in July
* FINANCE: Nabsamruddhi Finance, the non-bank financial subsidiary of National Bank for Agriculture and Rural Development, is looking to expand its refinancing operations, especially those not a part of the agriculture sector.
* OIL & GAS: The price of petrol for Wednesday has been set at 66.81 rupees per ltr in Delhi, according to information available on state-owned INDIAN OIL CORP's website.
- Sun Oil and Natural Gas is close to acquiring Gujarat State Petroleum Corp's 66.67% stake in the
Hazira gas field in Gujarat.
* PHARMACEUTICALS: The Drug Controller General of India has got local drug makers to draw up an emergency plan on dealing with any blockade on shipments from China of active pharmaceutical ingredients or raw materials.
* POWER: Solar power developers who won the mega auction for 1,200 MW projects in Jharkhand 16 months ago have agreed to reduce tariffs, which will help them sign power purchase agreements.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India will shortly begin a
consultation process to address the issues of ownership, privacy and security of data which flows through the network of telecommunication companies.
