Today's Sector View – 14.12.2018
* AUTOMOBILES: Nissan India has announced plans to hike prices of passenger vehicles by up to 4% from Jan 1, across all available models for Nissan and Datsun.
* AVIATION: Federation of Indian Airlines, an aviation industry body, has urged the civil aviation ministry to allow an additional month of unsecured credit for aviation turbine fuel and airport charges, the ministry said.
-Major low-cost airlines have witnessed a steep rise in the number of complaints in 2018, the civil aviation ministry said.
-The government has monetised Air India's properties worth 4.10 bln rupees till date to improve the
financial and operating performance of the debt-laden carrier, the civil aviation ministry said.
-The government owes cash-strapped Air India 10 bln rupees.
* BANKING: The government is considering additional capital infusion of up to 300 bln rupees in public sector banks as they have been unable to raise required funds from the markets.
* FINANCE: Top lenders to Infrastructure Leasing & Financial Services, struggling to recover 600 bln rupees dues, have come together to seek easier provisioning norms for loans given to the cash-strapped conglomerate.
* INSURANCE: The government has formed a seven-member panel under Banks Board Bureau to select whole-time directors of public sector insurance companies.
* MINING: Government will auction two iron ore mines in Odisha to meet shortage.
* PHARMACEUTICALS: The Delhi High Court has stayed the sale of drugs and prescribed medicines by online pharmacies.
* REGULATORY: The Securities and Exchange Board of India has said that a foreign portfolio investor, whose shareholding crosses over 10% in a single listed company, will get five days to reduce its stake in order to meet individual shareholding limit.
* TELECOMMUNICATION: The Telecom Disputes Settlement and Appellate Tribunal has quashed the telecom regulator's definition of "significant market power" and "predatory pricing" that were issued in the amendment to a tariff order in February. The Telecom Regulatory Authority of India has cut the time required to change an operator, while keeping the same number, to just two to four days from seven days earlier.
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* AVIATION: Federation of Indian Airlines, an aviation industry body, has urged the civil aviation ministry to allow an additional month of unsecured credit for aviation turbine fuel and airport charges, the ministry said.
-Major low-cost airlines have witnessed a steep rise in the number of complaints in 2018, the civil aviation ministry said.
-The government has monetised Air India's properties worth 4.10 bln rupees till date to improve the
financial and operating performance of the debt-laden carrier, the civil aviation ministry said.
-The government owes cash-strapped Air India 10 bln rupees.
* BANKING: The government is considering additional capital infusion of up to 300 bln rupees in public sector banks as they have been unable to raise required funds from the markets.
* FINANCE: Top lenders to Infrastructure Leasing & Financial Services, struggling to recover 600 bln rupees dues, have come together to seek easier provisioning norms for loans given to the cash-strapped conglomerate.
* INSURANCE: The government has formed a seven-member panel under Banks Board Bureau to select whole-time directors of public sector insurance companies.
* MINING: Government will auction two iron ore mines in Odisha to meet shortage.
* PHARMACEUTICALS: The Delhi High Court has stayed the sale of drugs and prescribed medicines by online pharmacies.
* REGULATORY: The Securities and Exchange Board of India has said that a foreign portfolio investor, whose shareholding crosses over 10% in a single listed company, will get five days to reduce its stake in order to meet individual shareholding limit.
* TELECOMMUNICATION: The Telecom Disputes Settlement and Appellate Tribunal has quashed the telecom regulator's definition of "significant market power" and "predatory pricing" that were issued in the amendment to a tariff order in February. The Telecom Regulatory Authority of India has cut the time required to change an operator, while keeping the same number, to just two to four days from seven days earlier.
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