Daily Sector News Today – 10.08.2017
* AUTOMOBILE: The central government is not in favour of hiking compensation cess under the
goods and services tax on small cars.
* AVIATION: GoAir plans to launch its overseas operations with flights from Mumbai to Phuket and
Male in the winter schedule.
* COMMODITIES: Rise in prices of Darjeeling tea has led to an influx of Nepalese tea, which is
being sold as Darjeeling tea at a premium price.
* CORPORATE: Tata Sons' Chairman N. Chandrasekaran is assembling a team of dealmakers to
refocus some of the group's biggest businesses, expand its financial services and consumer businesses
and sell or merge dozens of smaller units.
* ECONOMY: India has extended the anti-dumping duty on opal glassware from China and the UAE
for five years. The Currency and Coinage Division of the finance ministry is likely to soon submit a
report to Finance Minister Arun Jaitley on the design and security features of a new 1,000-rupee note.
* EXCHANGE: The National Stock Exchange has started collecting information to verify the
credentials and fundamentals of 48 companies listed on the bourse and which feature on the SEBI's list of 331 suspected shell companies.
- Of the 48 suspected shell companies, mutual funds have exposure to just two, but the cumulative
amount is as large as over 2.5 bln rupees.
* INSURANCE: The premium income of non-life insurance companies rose 9.1% on year to 97.91 bln rupees in July, data released by the Insurance Regulatory and Development Authority of India showed.
* OIL AND GAS: The price of petrol has been hiked by 30 paise per ltr for Thursday to 66.96 rupees, ex-Delhi, according to information on INDIAN OIL CORP's website.
- Malaysian government-owned Petroliam Nasional Bhd is looking to expand its operations in India
by entering into more long-term contracts for supply of liquefied natural gas and scaling up its
lubricants business.
* PHARMACEUTICALS: The US Food and Drug Administration has formed a working group
comprising its staff to find ways to enhance competition in the US generic drug market, Scott Gottlieb, commissioner of the regulatory body said.
* PHARMACEUTICALS: Multinational companies like Johnson and Johnson, Zimmer Biomet,
Smith & Nephew, and Vygon, which manufacture orthopaedic knee implants are willing to work
towards self-regulating prices, instead of letting the government decide them.
* POWER: The Uttar Pradesh Power Corp has sought a hefty hike of 260-350% in power tariffs for
2017-18 (Apr-Mar) across rural and urban households, and 60% for farmers.
* REALTY: HDFC Property Fund has invested around 5 bln rupees in Lodha Developers.
* REGULATORY: A day after Securities and Exchange Board of India put severe restrictions on
trading of 331 stocks over charges of being shell companies, the Securities Appellate Tribunal asked
the regulator to hear out the companies by Thursday and then pass order.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India has floated a consultation
paper to identify the scope and definition of personal data, and ownership and control of data of users
of telecom services.
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goods and services tax on small cars.
* AVIATION: GoAir plans to launch its overseas operations with flights from Mumbai to Phuket and
Male in the winter schedule.
* COMMODITIES: Rise in prices of Darjeeling tea has led to an influx of Nepalese tea, which is
being sold as Darjeeling tea at a premium price.
* CORPORATE: Tata Sons' Chairman N. Chandrasekaran is assembling a team of dealmakers to
refocus some of the group's biggest businesses, expand its financial services and consumer businesses
and sell or merge dozens of smaller units.
* ECONOMY: India has extended the anti-dumping duty on opal glassware from China and the UAE
for five years. The Currency and Coinage Division of the finance ministry is likely to soon submit a
report to Finance Minister Arun Jaitley on the design and security features of a new 1,000-rupee note.
* EXCHANGE: The National Stock Exchange has started collecting information to verify the
credentials and fundamentals of 48 companies listed on the bourse and which feature on the SEBI's list of 331 suspected shell companies.
- Of the 48 suspected shell companies, mutual funds have exposure to just two, but the cumulative
amount is as large as over 2.5 bln rupees.
* INSURANCE: The premium income of non-life insurance companies rose 9.1% on year to 97.91 bln rupees in July, data released by the Insurance Regulatory and Development Authority of India showed.
* OIL AND GAS: The price of petrol has been hiked by 30 paise per ltr for Thursday to 66.96 rupees, ex-Delhi, according to information on INDIAN OIL CORP's website.
- Malaysian government-owned Petroliam Nasional Bhd is looking to expand its operations in India
by entering into more long-term contracts for supply of liquefied natural gas and scaling up its
lubricants business.
* PHARMACEUTICALS: The US Food and Drug Administration has formed a working group
comprising its staff to find ways to enhance competition in the US generic drug market, Scott Gottlieb, commissioner of the regulatory body said.
* PHARMACEUTICALS: Multinational companies like Johnson and Johnson, Zimmer Biomet,
Smith & Nephew, and Vygon, which manufacture orthopaedic knee implants are willing to work
towards self-regulating prices, instead of letting the government decide them.
* POWER: The Uttar Pradesh Power Corp has sought a hefty hike of 260-350% in power tariffs for
2017-18 (Apr-Mar) across rural and urban households, and 60% for farmers.
* REALTY: HDFC Property Fund has invested around 5 bln rupees in Lodha Developers.
* REGULATORY: A day after Securities and Exchange Board of India put severe restrictions on
trading of 331 stocks over charges of being shell companies, the Securities Appellate Tribunal asked
the regulator to hear out the companies by Thursday and then pass order.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India has floated a consultation
paper to identify the scope and definition of personal data, and ownership and control of data of users
of telecom services.
