SECTORS NEWS TODAY – 24.08.2016
NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut : BUY ZONE
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* BANKING: The government hasn't received any proposal from the Reserve Bank of India or the
Securities and Exchange Board of India on recapitalisation bonds for fund infusion into public sector
banks.
* ECONOMY: Gujarat has become the sixth state to ratify the Constitution amendment Bill for the goods and services tax, with the state Assembly passing the crucial legislation.
* FINANCE: The government has issued a revised request for proposal to appoint merchant bankers to advise on the sale of shares held by the Specified Undertaking of Unit Trust of India in various
companies. Finance Minister Arun Jaitley has reviewed the implementation of the Insolvency and
Bankruptcy Code 2016 and directed senior officials to ensure its enforcement in a time-bound manner.
* FERTILISER: To ensure proper supply of fertiliser to farmers, the Centre has asked state governments to take strict action against hoarders. Rampant diversion of neem-coated urea to the plywood and paint industry has been reported in Haryana, state Additional Chief Secretary V.S. Kundu said.
* INSURANCE: Life Insurance Corp plans to increase its investments in debt instruments and keep
investments in equity at same levels as last year. The insurance company typically increases investments in equity every year.
* RAILWAYS: Has notified 8-14% increase in freight rates for coal moved between 100 km and 700 km. For more than 700 km, freight rate has been cut by up to 13%.
NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut : BUY ZONE
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* BANKING: The government hasn't received any proposal from the Reserve Bank of India or the
Securities and Exchange Board of India on recapitalisation bonds for fund infusion into public sector
banks.
* ECONOMY: Gujarat has become the sixth state to ratify the Constitution amendment Bill for the goods and services tax, with the state Assembly passing the crucial legislation.
* FINANCE: The government has issued a revised request for proposal to appoint merchant bankers to advise on the sale of shares held by the Specified Undertaking of Unit Trust of India in various
companies. Finance Minister Arun Jaitley has reviewed the implementation of the Insolvency and
Bankruptcy Code 2016 and directed senior officials to ensure its enforcement in a time-bound manner.
* FERTILISER: To ensure proper supply of fertiliser to farmers, the Centre has asked state governments to take strict action against hoarders. Rampant diversion of neem-coated urea to the plywood and paint industry has been reported in Haryana, state Additional Chief Secretary V.S. Kundu said.
* INSURANCE: Life Insurance Corp plans to increase its investments in debt instruments and keep
investments in equity at same levels as last year. The insurance company typically increases investments in equity every year.
* RAILWAYS: Has notified 8-14% increase in freight rates for coal moved between 100 km and 700 km. For more than 700 km, freight rate has been cut by up to 13%.
