DAILY SECTORS ALERT – 28.02.2017
* AVIATION: The Ministry of Civil Aviation has asked the Appointments Committee of the Cabinet to extend the tenure of the current bench of the Airport Economic Regulatory Authority Appellate Tribunal by a year for quick resolution of the issues regarding a decrease in tariff at the Delhi International Airport.
* CORPORATE: India's radio broadcast industry is expected to see exponential growth and provide an opportunity to Music Broadcast, the operator of radio channel Radio City in India, to buy out rivals. A Supreme Court bench said it would verify how the case filed against Vijay Mallya by a consortium of banks was listed before it when another apex court bench was already hearing the matter. Tata Sons and NTT Docomo plan to file a joint petition today in the Delhi High Court to propose a mechanism which will enable the Tata Group to pay the Japanese company the entire $1.17 bln as compensation for its 26% stake in TATA TELESERVICES.
* ECONOMY: To promote its flagship 'Make In India' programme, the government is proposing a national government procurement policy, which involves purchases worth 2 trln rupees a year but doesn't include defence equipment. The draft model of the Agricultural Produce Market Committee Bill has proposed private market yards, farmer-consumer markets, electronic trading platforms, and converting warehouses into smaller mandis to provide better linkages and prices to farmers.
* INSURANCE: The Life Insurance Corp of India's investible surplus is currently at 3.3-3.5 trln rupees depending on inflows into various insurance schemes, a senior official said.
* POWER: Sri Lanka government-promoted LTL Holdings is in "early stage" talks to acquire the machinery of some debt-laden Indian power companies, according to the company's consultant Rohan E.Dias.
* REGULATORY: Outgoing chairman of the Securities and Exchange Board of India U.K. Sinha said listing of more than two infrastructure investment trusts is likely in two months. SEBI said culprits in the 56-bln-rupee National Spot Exchange scam would be punished on the basis of investigations by the regulator.
* TAXATION: The Supreme Court has sought responses from the finance ministry, the Central Board of Direct Taxes and others on a plea challenging an income tax law that empowers the authorities to prescribe value of an additional income to bank employees for taxation purposes.
* TELECOMMUNICATION: Sunil Bharti Mittal, chairman of global telecom body GSMA, has called on global carriers to pool spectrum in entities that could be run by third-party network operators.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040* AVIATION: The Ministry of Civil Aviation has asked the Appointments Committee of the Cabinet to extend the tenure of the current bench of the Airport Economic Regulatory Authority Appellate Tribunal by a year for quick resolution of the issues regarding a decrease in tariff at the Delhi International Airport.
* CORPORATE: India's radio broadcast industry is expected to see exponential growth and provide an opportunity to Music Broadcast, the operator of radio channel Radio City in India, to buy out rivals. A Supreme Court bench said it would verify how the case filed against Vijay Mallya by a consortium of banks was listed before it when another apex court bench was already hearing the matter. Tata Sons and NTT Docomo plan to file a joint petition today in the Delhi High Court to propose a mechanism which will enable the Tata Group to pay the Japanese company the entire $1.17 bln as compensation for its 26% stake in TATA TELESERVICES.
* ECONOMY: To promote its flagship 'Make In India' programme, the government is proposing a national government procurement policy, which involves purchases worth 2 trln rupees a year but doesn't include defence equipment. The draft model of the Agricultural Produce Market Committee Bill has proposed private market yards, farmer-consumer markets, electronic trading platforms, and converting warehouses into smaller mandis to provide better linkages and prices to farmers.
* INSURANCE: The Life Insurance Corp of India's investible surplus is currently at 3.3-3.5 trln rupees depending on inflows into various insurance schemes, a senior official said.
* POWER: Sri Lanka government-promoted LTL Holdings is in "early stage" talks to acquire the machinery of some debt-laden Indian power companies, according to the company's consultant Rohan E.Dias.
* REGULATORY: Outgoing chairman of the Securities and Exchange Board of India U.K. Sinha said listing of more than two infrastructure investment trusts is likely in two months. SEBI said culprits in the 56-bln-rupee National Spot Exchange scam would be punished on the basis of investigations by the regulator.
* TAXATION: The Supreme Court has sought responses from the finance ministry, the Central Board of Direct Taxes and others on a plea challenging an income tax law that empowers the authorities to prescribe value of an additional income to bank employees for taxation purposes.
* TELECOMMUNICATION: Sunil Bharti Mittal, chairman of global telecom body GSMA, has called on global carriers to pool spectrum in entities that could be run by third-party network operators.
