Daily Sector News Today – 04.08.2017
* BANKING: The Reserve Bank of India said it had developed a portal for centralised collection and
compilation of data on natural calamities on a real-time basis, to facilitate relief activities by banks in
these areas.
* COMMODITIES: The National Commodity and Derivatives Exchange has advanced the expiry of
August castor seed contract to Aug 17 from Aug 18, on account of closure of the spot market in Deesa, Gujarat.
* CORPORATE: The Securities and Exchange Board of India has closed its investigation into allegations raised by Cyrus Mistry about violations at various Tata companies.
* ECONOMY: The Lok Sabha has passed the National Bank for Agriculture and Rural Development
(Amendment) Bill, 2017, which allows the government to hike authorised capital of NABARD by six
times to 300 bln rupees.
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions Corp raised the lower end of its sales guidance for 2017 to $14.70 bln from $14.56 bln projected earlier. The upper end of the guidance stays unchanged at $14.84 bln.
* INFRASTRUCTURE: The National Highways Authority of India has invited bids to develop amenities at 183 locations along national highways.
* OIL AND GAS: The price of petrol has been hiked by 31 paise per ltr for Friday to 66.00 rupees, exDelhi, according to information available on state owned INDIAN OIL CORP'S website.
- State-owned fuel retailers have hiked commissions paid to fuel pump dealers by up to 43% for petrol and by up to 59% for diesel.
* PHARMACEUTICALS: The Centre is working to reduce the Indian pharmaceutical industry's
dependence on Chinese raw material imports, in the wake of heightened tensions in Indo-China relations.
* TELECOMMUNICATION: Bharti Enterprises have dropped its plans of pursuing an alliance with the Tata Group's telecom, overseas cable and enterprise services, and direct-to-home TV businesses.
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compilation of data on natural calamities on a real-time basis, to facilitate relief activities by banks in
these areas.
* COMMODITIES: The National Commodity and Derivatives Exchange has advanced the expiry of
August castor seed contract to Aug 17 from Aug 18, on account of closure of the spot market in Deesa, Gujarat.
* CORPORATE: The Securities and Exchange Board of India has closed its investigation into allegations raised by Cyrus Mistry about violations at various Tata companies.
* ECONOMY: The Lok Sabha has passed the National Bank for Agriculture and Rural Development
(Amendment) Bill, 2017, which allows the government to hike authorised capital of NABARD by six
times to 300 bln rupees.
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions Corp raised the lower end of its sales guidance for 2017 to $14.70 bln from $14.56 bln projected earlier. The upper end of the guidance stays unchanged at $14.84 bln.
* INFRASTRUCTURE: The National Highways Authority of India has invited bids to develop amenities at 183 locations along national highways.
* OIL AND GAS: The price of petrol has been hiked by 31 paise per ltr for Friday to 66.00 rupees, exDelhi, according to information available on state owned INDIAN OIL CORP'S website.
- State-owned fuel retailers have hiked commissions paid to fuel pump dealers by up to 43% for petrol and by up to 59% for diesel.
* PHARMACEUTICALS: The Centre is working to reduce the Indian pharmaceutical industry's
dependence on Chinese raw material imports, in the wake of heightened tensions in Indo-China relations.
* TELECOMMUNICATION: Bharti Enterprises have dropped its plans of pursuing an alliance with the Tata Group's telecom, overseas cable and enterprise services, and direct-to-home TV businesses.
