Daily Sector News Today – 16.01.2018
* AVIATION: The government has decided to split Air India into four separate companies and will divest at least 51% in each, Minister of State for Civil Aviation Jayant Sinha told Bloomberg news agency. AirAsia India has decided to resume its flight to and from Chennai, more than two years after it had discontinued operations from the city.
* BANKING: Reserve Bank of India Deputy Governor Viral Acharya has slammed the treasury operations of Indian banks, saying that "hope" should not be their primary trading strategy. Criticising state-owned banks for their "limited" or "negligible" participation in the interest rate derivatives market, Acharya has emphasised the need for wider participation.
* CEMENT: Investor Rakesh Jhunjhunwala and D-Mart promoter Radhakishan Damani teamed up to bid for Binani Cement.
* PHARMACEUTICALS: Drugs Technical Advisory Board is set to decide on the fate of more than 300 banned drugs in a meeting later this month following complaints from the drug industry.
* REALTY: Piramal Realty has signed a development agreement with Omkar Realtors for a marquee project in Mumbai's Mahalaxmi locality.
* REGULATORY: The Securities and Exchange Board of India has started summoning individuals in connection with the leaked corporate earnings to record their statements.
* STEEL: Essar Steel promoters Shashi and Ravi Ruia are working toward setting up a consortium to bid for the company in the midst of bankruptcy proceedings at the National Company Law Tribunal.
CLICK HERE
*********************************************************************************
* BANKING: Reserve Bank of India Deputy Governor Viral Acharya has slammed the treasury operations of Indian banks, saying that "hope" should not be their primary trading strategy. Criticising state-owned banks for their "limited" or "negligible" participation in the interest rate derivatives market, Acharya has emphasised the need for wider participation.
* CEMENT: Investor Rakesh Jhunjhunwala and D-Mart promoter Radhakishan Damani teamed up to bid for Binani Cement.
* PHARMACEUTICALS: Drugs Technical Advisory Board is set to decide on the fate of more than 300 banned drugs in a meeting later this month following complaints from the drug industry.
* REALTY: Piramal Realty has signed a development agreement with Omkar Realtors for a marquee project in Mumbai's Mahalaxmi locality.
* REGULATORY: The Securities and Exchange Board of India has started summoning individuals in connection with the leaked corporate earnings to record their statements.
* STEEL: Essar Steel promoters Shashi and Ravi Ruia are working toward setting up a consortium to bid for the company in the midst of bankruptcy proceedings at the National Company Law Tribunal.
