Today's Sector View – 03.01.2019

Today's Sector View – 03.01.2019

* AUTOMOBILES: Suzuki Motorcycle India reported domestic sales of 43,874 units in December, up
nearly 34% on year.

* BANKING: Reserve Bank of India Governor Shaktikanta Das will hold meetings with
representatives from micro, small and medium enterprises and non-banking finance companies next

* COAL: The coal ministry is in talks with the finance ministry on commercial sale of up to 25% of
the coal from captive mines in the open market without any premium, sources told.

* FINANCE: IL&FS Financial Services has defaulted on interest payments of 520 mln rupees and
21.9 mln rupees towards a term loan and external commercial borrowing, respectively, that was due
on Tuesday.

* RAILWAYS: Indian Railways is expected to generate revenues of 2 trln rupees in 2018-19 (Apr-
Mar), but additional expenditure on account of the implementation of Seventh Pay Commission
recommendations is expected to keep its operating ratio under strain, Railway Minister Piyush Goyal

* STEEL: The committee of creditors to Essar Steel has filed an application at the National Company
Law Appellate Tribunal seeking the disposal of the insolvency case within the next three weeks.

* TAXATION: The direct tax-to-GDP ratio of 5.98% achieved during the 2017-18 fiscal is the best in
the last 10 years, the government said on Wednesday.

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