Daily Sector News Today – 28.11.2017
* BANKING: Goldman Sachs and Morgan Stanley sees India's central bank raising the repo rate in the second half of 2018. The Reserve Bank of India has allowed lenders to rely on 'provisional ratings'--which will not be disclosed to the market-for rejigging loans to distressed companies before resorting to the insolvency mechanism.
* CORPORATE: Essar Group has completed the sale of its business process solution arm Aegis to Singapore-based private equity firm Capital Square Partners for around 20 bln rupees.
* INFRASTRUCTURE: West Bengal Chief Minister, Mamata Banerjee, said the state will invest $15 bln over the next five years to improve infrastructure to encourage investments.
* PHARMACEUTICALS: The Centre has amended the Drugs and Cosmetics Rules to allow pharmaceutical companies to manufacture drugs and cosmetics with a permanent licence on conditional basis.
* STEEL: Indian steel companies can meet the needs of the country's railways and local rail market entrants such as JINDAL STEEL AND POWER should be given a chance, a government panel said
* TAXATION: The goods and services tax collections were at 833.46 bln rupees in October, the lowest since the rollout of the new indirect tax regime in July.
* TELECOMMUNICATION: Chennai was the only city among seven cities where all telecom operators met norms on call drops and setup success rate, the Telecom Regulatory Authority of India said in a report.
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* CORPORATE: Essar Group has completed the sale of its business process solution arm Aegis to Singapore-based private equity firm Capital Square Partners for around 20 bln rupees.
* INFRASTRUCTURE: West Bengal Chief Minister, Mamata Banerjee, said the state will invest $15 bln over the next five years to improve infrastructure to encourage investments.
* PHARMACEUTICALS: The Centre has amended the Drugs and Cosmetics Rules to allow pharmaceutical companies to manufacture drugs and cosmetics with a permanent licence on conditional basis.
* STEEL: Indian steel companies can meet the needs of the country's railways and local rail market entrants such as JINDAL STEEL AND POWER should be given a chance, a government panel said
* TAXATION: The goods and services tax collections were at 833.46 bln rupees in October, the lowest since the rollout of the new indirect tax regime in July.
* TELECOMMUNICATION: Chennai was the only city among seven cities where all telecom operators met norms on call drops and setup success rate, the Telecom Regulatory Authority of India said in a report.
