Today's Sector News – 03.05.2019
* FAST-MOVING CONSUMER GOODS: Global beverages and snacks giant PepsiCo India said it has agreed to withdraw all cases it had filed against nine potato farmers in Gujarat, after discussions with the Centre and Gujarat government.
* FINANCE: Investors in some of Unit Trust of India's debt mutual funds just took another battering, thanks to their exposure to a unit of Infrastructure Leasing & Financial Services, reflecting the continuing damage to India's debt markets stemming from the financier's default in September last year.
-Mutual funds and other lenders with an exposure to debt papers are feeling the heat as nearly 7.5 trln rupees worth of corporate papers have been downgraded between September 2018--when a series of defaults by IL&FS group companies began—and March 2019.
* REAL ESTATE: Axis Asset Management Co's maiden real estate fund, Axis RERA Opportunities Fund has signed its first deal to invest 600 mln rupees in the Chennai-based developer Akshaya Group.
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* FINANCE: Investors in some of Unit Trust of India's debt mutual funds just took another battering, thanks to their exposure to a unit of Infrastructure Leasing & Financial Services, reflecting the continuing damage to India's debt markets stemming from the financier's default in September last year.
-Mutual funds and other lenders with an exposure to debt papers are feeling the heat as nearly 7.5 trln rupees worth of corporate papers have been downgraded between September 2018--when a series of defaults by IL&FS group companies began—and March 2019.
* REAL ESTATE: Axis Asset Management Co's maiden real estate fund, Axis RERA Opportunities Fund has signed its first deal to invest 600 mln rupees in the Chennai-based developer Akshaya Group.
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