Today's Sector View – 18.12.2018
* AVIATION: The Indian Commercial Pilots Association has sought long-term fleet expansion plan for Air India.
* CHEMICALS: To boost use of methanol as a cleaner alternative to conventional fossil fuels, the Union Cabinet is likely to consider a comprehensive national methanol policy within the next two to three months, NITI Aayog Member V.K. Saraswat said.
* CORPORATE: A merger between the DTH arms of Videocon and Essel groups, which took place in March, is now the subject of a legal dispute in the Delhi High Court.
-Standard Chartered Plc reached an agreement to separate its private-equity unit, ending more than two years of effort by Chief Executive Officer Bill Winters to get out of the business.
* NON-BANKING FINANCIAL COS: Lenders, including HDFC BANK, ICICI BANK and AXIS BANK, and Rare Enterprises are among a dozen bidders for the securities business of IL&FS, which expects the sale of subsidiary IL&FS Securities Services to bring in about 4 bln rupees.
* OIL AND GAS: The Cabinet Committee on Economic Affairs has approved expansion of the scheme to provide free cooking gas cylinder connections under the Pradhan Mantri Ujjwala Yojana, Oil Minister Dharmendra Pradhan said.
* STEEL: Essar Steel Asia Holdings Ltd, a promoter company of bankrupt Essar Steel Ltd, has sought to invoke the "right to redemption" as shareholders, and consider its 544-bln-rupee settlement offer ahead of Arcelor Mittal S.A's offer getting cleared by the company's lenders.
* SUGAR: The Uttar Pradesh government has issued recovery certificates against eight sugar mills, including BAJAJ HINDUSTHAN SUGAR, and Modi Sugar Mills, for non-payment of cane dues to farmers.
* TAXATION: The Appointments Committee of the Cabinet has appointed Pranab Kumar Das as the
chairperson of the Central Board of Indirect Taxes and Customs.
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* CHEMICALS: To boost use of methanol as a cleaner alternative to conventional fossil fuels, the Union Cabinet is likely to consider a comprehensive national methanol policy within the next two to three months, NITI Aayog Member V.K. Saraswat said.
* CORPORATE: A merger between the DTH arms of Videocon and Essel groups, which took place in March, is now the subject of a legal dispute in the Delhi High Court.
-Standard Chartered Plc reached an agreement to separate its private-equity unit, ending more than two years of effort by Chief Executive Officer Bill Winters to get out of the business.
* NON-BANKING FINANCIAL COS: Lenders, including HDFC BANK, ICICI BANK and AXIS BANK, and Rare Enterprises are among a dozen bidders for the securities business of IL&FS, which expects the sale of subsidiary IL&FS Securities Services to bring in about 4 bln rupees.
* OIL AND GAS: The Cabinet Committee on Economic Affairs has approved expansion of the scheme to provide free cooking gas cylinder connections under the Pradhan Mantri Ujjwala Yojana, Oil Minister Dharmendra Pradhan said.
* STEEL: Essar Steel Asia Holdings Ltd, a promoter company of bankrupt Essar Steel Ltd, has sought to invoke the "right to redemption" as shareholders, and consider its 544-bln-rupee settlement offer ahead of Arcelor Mittal S.A's offer getting cleared by the company's lenders.
* SUGAR: The Uttar Pradesh government has issued recovery certificates against eight sugar mills, including BAJAJ HINDUSTHAN SUGAR, and Modi Sugar Mills, for non-payment of cane dues to farmers.
* TAXATION: The Appointments Committee of the Cabinet has appointed Pranab Kumar Das as the
chairperson of the Central Board of Indirect Taxes and Customs.
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