Today's Sector News – 24.01.2019 9.11 Am
* AVIATION: The Securities and Exchange Board of India is unlikely to exempt Etihad Airways from making an open offer to minority shareholders of JET AIRWAYS even as lenders led by STATE BANK OF INDIA persuade the regulator to do so.
* COMMODITIES: Coffee Board has scaled down its estimate for coffee production in the country in 2018-19 (Oct-Sep) by 16% to 319,500 tn due to heavy rains in the key growing areas of Karnataka and Kerala since July.
* INFRASTRUCTURE: Canada's largest alternative asset manager Brookfield Asset Management is all set to sell one of its marquee road assets, the Mumbai-Nasik Expressway, as the Canadian fund wants to restructure its portfolio in India. Brookfield Asset Management proposed an investment of 45 bln rupees for building a jetty at Ramayapatnam Port and also set up an integrated steel complex surrounding coastal areas of Prakasam district in Andhra Pradesh.
* STEEL: Essar Steel has said its promoters have provided all relevant information on their resolution plan for the company to lenders, and no request for new information has been sought.
ArcelorMittal has moved the National Company Law Appellate Tribunal to expedite the hearing in the Essar Steel resolution case. STATE BANK OF INDIA is likely to put on hold the auction of its proposed debt exposure to Essar Steel.
* TAXATION: The Union Cabinet has approved a proposal to set up a national bench of the Goods and Services Tax Appellate Tribunal, to bring in more certainty in determining tax liabilities.
* COMMODITIES: Coffee Board has scaled down its estimate for coffee production in the country in 2018-19 (Oct-Sep) by 16% to 319,500 tn due to heavy rains in the key growing areas of Karnataka and Kerala since July.
* INFRASTRUCTURE: Canada's largest alternative asset manager Brookfield Asset Management is all set to sell one of its marquee road assets, the Mumbai-Nasik Expressway, as the Canadian fund wants to restructure its portfolio in India. Brookfield Asset Management proposed an investment of 45 bln rupees for building a jetty at Ramayapatnam Port and also set up an integrated steel complex surrounding coastal areas of Prakasam district in Andhra Pradesh.
* STEEL: Essar Steel has said its promoters have provided all relevant information on their resolution plan for the company to lenders, and no request for new information has been sought.
ArcelorMittal has moved the National Company Law Appellate Tribunal to expedite the hearing in the Essar Steel resolution case. STATE BANK OF INDIA is likely to put on hold the auction of its proposed debt exposure to Essar Steel.
* TAXATION: The Union Cabinet has approved a proposal to set up a national bench of the Goods and Services Tax Appellate Tribunal, to bring in more certainty in determining tax liabilities.
Our Blog Information Learning purpose only
(Paper Trading Practice for Currency, Equity, Commodity Segment)
Register For Free Equity Tips Trial: http://rupeedesk.in/rupeedeskfree-calls
