Daily Sector News Today – 03.08.2017
* COMMODITIES: A committee, headed by Cabinet Secretary P.K. Sinha, has sought comments from research and industry experts on a proposal to hike import duty on edible oils.
* INFORMATION TECHNOLOGY: The information technology ministry has formed two working
groups to study security standards for mobile phone hardware and software.
* OIL AND GAS: The price of petrol has been hiked by 22 paise per ltr for Thursday to 65.69 rupees, exDelhi, according to data on the website of INDIAN OIL CORP.
- Tata Sons may shut down Tata Petrodyne, its oil exploration and production arm, as new chairman N. Chandrasekaran weeds out businesses that are unprofitable or lack scale.
* PHARMACEUTICALS: The Competition Commission of India has assured the Delhi High Court that it would not initiate probe against Roche Products (India) for alleged anti-competitive practices till Sep 6, when the case comes up for hearing.
- The government has proposed doing away with clinical trials for drugs that have proved their efficacy in developed markets, according to a proposed new set of rules.
* RAILWAYS: The Indian Railways has got one bid each so far for the redevelopment of Jammu and
Kozhikode stations.
- The Cabinet Committee on Economic Affairs has approved doubling of four railway lines in Tamil
Nadu and Kerala for a total cost of 39.41 bln rupees.
* REGULATORY: The Securities and Exchange Board of India has held 13 people guilty of insider
trading in shares of Financial Technologies India, later renamed 63 MOONS TECHNOLOGIES, and
MULTI COMMODITY EXCHANGE OF INDIA.
* STEEL: The National Company Law Tribunal has approved initiating bankruptcy proceedings against Essar Steel.
* TELECOMMUNICATION: The inter-ministerial panel, set up to suggest steps to ease financial stress in the telecom sector, is expected to submit its report to the government in 20 days, Telecom Minister Manoj Sinha said.
- In signs of recovery in the sector, revenue of the Department of Telecommunications from spectrum usage charges paid by operators has risen 10% on quarter in Jul-Sep.
- Vodafone India will offer unlimited calling to any network and 1 GB daily data for 28 days, at a cost of 347 rupees for users in Kolkata.
- Brookfield, American Tower Corp, and IDFC Project Equity Infra have separately bid for the 11,000 individual towers of Vodafone India, valued at $600 mln.
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* INFORMATION TECHNOLOGY: The information technology ministry has formed two working
groups to study security standards for mobile phone hardware and software.
* OIL AND GAS: The price of petrol has been hiked by 22 paise per ltr for Thursday to 65.69 rupees, exDelhi, according to data on the website of INDIAN OIL CORP.
- Tata Sons may shut down Tata Petrodyne, its oil exploration and production arm, as new chairman N. Chandrasekaran weeds out businesses that are unprofitable or lack scale.
* PHARMACEUTICALS: The Competition Commission of India has assured the Delhi High Court that it would not initiate probe against Roche Products (India) for alleged anti-competitive practices till Sep 6, when the case comes up for hearing.
- The government has proposed doing away with clinical trials for drugs that have proved their efficacy in developed markets, according to a proposed new set of rules.
* RAILWAYS: The Indian Railways has got one bid each so far for the redevelopment of Jammu and
Kozhikode stations.
- The Cabinet Committee on Economic Affairs has approved doubling of four railway lines in Tamil
Nadu and Kerala for a total cost of 39.41 bln rupees.
* REGULATORY: The Securities and Exchange Board of India has held 13 people guilty of insider
trading in shares of Financial Technologies India, later renamed 63 MOONS TECHNOLOGIES, and
MULTI COMMODITY EXCHANGE OF INDIA.
* STEEL: The National Company Law Tribunal has approved initiating bankruptcy proceedings against Essar Steel.
* TELECOMMUNICATION: The inter-ministerial panel, set up to suggest steps to ease financial stress in the telecom sector, is expected to submit its report to the government in 20 days, Telecom Minister Manoj Sinha said.
- In signs of recovery in the sector, revenue of the Department of Telecommunications from spectrum usage charges paid by operators has risen 10% on quarter in Jul-Sep.
- Vodafone India will offer unlimited calling to any network and 1 GB daily data for 28 days, at a cost of 347 rupees for users in Kolkata.
- Brookfield, American Tower Corp, and IDFC Project Equity Infra have separately bid for the 11,000 individual towers of Vodafone India, valued at $600 mln.
