Today Sector News – 28.11.2018
* AGRICULTURE: Farmers from across the country will march into the national capital on Thursday, for a two-day protest, demanding complete loan waiver and higher minimum support prices.
* AVIATION: A government panel has approved selling the ground handling subsidiary of Air India--Air India Air Transport Services--to help reduce the airline's debt, Aviation Secretary R. N. Choubey said.
* BANKING: Indian banks' adjusted non-food bank credit grew 15.6% on year to 97.32 trln rupees in the fortnight ended Nov 9, compared with 8.6% in the year-ago period.
* INFRASTRUCTURE: Actis LLP has agreed to buy Essel Infraprojectss solar power projects for 55-60 bln rupees. The Serious Fraud Investigation Office has uncovered grave irregularities across corporate governance and financial parameters that led to a default crisis at IL&FS.
* REAL ESTATE: Lodha Developers is selling its London assets to bring down debt.
* REGULATORY: The Securities and Exchange Board of India has levied a penalty of 100,000 rupees on Anand Rathi Shares and Stock Brokers Ltd for violation of the code of conduct for stock brokers. SEBI has issued guidelines on the interoperability between clearing corporations, asking all recognised clearing corporations to establish peer-to-peer link.
* STEEL: Dakshin Gujarat Vij Co has challenged ArcelorMittal's bid for Essar Steel before the bankruptcy court in Ahmedabad, opposing the resolution plan submitted by the resolution professional.
* TELECOMMUNICATIONS: A month after increasing import duties on telecom equipment, India has initiated a review of the tariffs as domestic service providers and US authorities sought a reversal. Telecom companies, burdened with debt, may ask the government to spare them from goods and services tax on payments made towards spectrum and licence fees.
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* AVIATION: A government panel has approved selling the ground handling subsidiary of Air India--Air India Air Transport Services--to help reduce the airline's debt, Aviation Secretary R. N. Choubey said.
* BANKING: Indian banks' adjusted non-food bank credit grew 15.6% on year to 97.32 trln rupees in the fortnight ended Nov 9, compared with 8.6% in the year-ago period.
* INFRASTRUCTURE: Actis LLP has agreed to buy Essel Infraprojectss solar power projects for 55-60 bln rupees. The Serious Fraud Investigation Office has uncovered grave irregularities across corporate governance and financial parameters that led to a default crisis at IL&FS.
* REAL ESTATE: Lodha Developers is selling its London assets to bring down debt.
* REGULATORY: The Securities and Exchange Board of India has levied a penalty of 100,000 rupees on Anand Rathi Shares and Stock Brokers Ltd for violation of the code of conduct for stock brokers. SEBI has issued guidelines on the interoperability between clearing corporations, asking all recognised clearing corporations to establish peer-to-peer link.
* STEEL: Dakshin Gujarat Vij Co has challenged ArcelorMittal's bid for Essar Steel before the bankruptcy court in Ahmedabad, opposing the resolution plan submitted by the resolution professional.
* TELECOMMUNICATIONS: A month after increasing import duties on telecom equipment, India has initiated a review of the tariffs as domestic service providers and US authorities sought a reversal. Telecom companies, burdened with debt, may ask the government to spare them from goods and services tax on payments made towards spectrum and licence fees.
