Daily Sector News Today – 08.09.2017
* AUTOMOBILE: Nissan India has announced a host of offers on Nissan and Datsun models for customers with effect from Tuesday.
* AVIATION: Vistara is likely to get the nod to fly overseas in March, when the company inducts its 20th aircraft--a prerequisite to fly to international locations.
* BANKING: Former Reserve Bank of India governor Raghuram Rajan said there was no provision under the Reserve Bank of India Act to pay a special dividend to the government.
- RBI has advised banks to resolve some large non-performing assets by December, Deputy Governor Viral Acharya said.
- Suryoday Small Finance Bank has been granted the status of a scheduled bank by the Reserve Bank of India, effective Sep 2, according to notification on the Gazette of India website.
* CORPORATE: Telangana government plans to release a new retail trade policy in the next 2-3 months, with focus on electronic commerce, a key area of investment opportunity in the state.
- The Shriram Group and IDFC are likely to complete the due diligence process for their proposed merger in a month and submit the report to their respective boards of directors for approval.
* INFRASTRUCTURE: Prime Minister Narendra Modi will flag off the first phase of Hyderabad metro rail services on Nov 28, after which it will be thrown open to the public.
- The government aims to raise the net profit from its ports by 75% to 70 bln rupees in the current financial year ending March.
* REGULATORY: The Securities and Exchange Board of India has set the ball rolling again for introduction of compulsory physical settlement to curb excessive speculation in stock derivatives and has sought the views of market participants on the issue.
- SEBI has asked PACL and its four directors to pay a fine of 24.23 bln rupees for mobilising funds from public through collective investment schemes without the regulator's approval.
* TELECOMMUNICATION: Brookfield Asset Management has joined the fray to buy Vodafone India and IDEA CELLULAR's combined 53.15% shareholding in Indus Towers though BHARTI INFRATEL leads the race.
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* AVIATION: Vistara is likely to get the nod to fly overseas in March, when the company inducts its 20th aircraft--a prerequisite to fly to international locations.
* BANKING: Former Reserve Bank of India governor Raghuram Rajan said there was no provision under the Reserve Bank of India Act to pay a special dividend to the government.
- RBI has advised banks to resolve some large non-performing assets by December, Deputy Governor Viral Acharya said.
- Suryoday Small Finance Bank has been granted the status of a scheduled bank by the Reserve Bank of India, effective Sep 2, according to notification on the Gazette of India website.
* CORPORATE: Telangana government plans to release a new retail trade policy in the next 2-3 months, with focus on electronic commerce, a key area of investment opportunity in the state.
- The Shriram Group and IDFC are likely to complete the due diligence process for their proposed merger in a month and submit the report to their respective boards of directors for approval.
* INFRASTRUCTURE: Prime Minister Narendra Modi will flag off the first phase of Hyderabad metro rail services on Nov 28, after which it will be thrown open to the public.
- The government aims to raise the net profit from its ports by 75% to 70 bln rupees in the current financial year ending March.
* REGULATORY: The Securities and Exchange Board of India has set the ball rolling again for introduction of compulsory physical settlement to curb excessive speculation in stock derivatives and has sought the views of market participants on the issue.
- SEBI has asked PACL and its four directors to pay a fine of 24.23 bln rupees for mobilising funds from public through collective investment schemes without the regulator's approval.
* TELECOMMUNICATION: Brookfield Asset Management has joined the fray to buy Vodafone India and IDEA CELLULAR's combined 53.15% shareholding in Indus Towers though BHARTI INFRATEL leads the race.
