Daily Sector News Today – 22.09.2017
* AVIATION: The Delhi airport has told airlines that it won't accept the schedules they have filed to
reduce fog-related flight disruptions during the winter season, industry executives said.
* CORPORATE: Tata Sons' shareholders have approved a resolution to convert the conglomerate to a
private company, sources said.
* E-COMMERCE: Aditya Birla Group's e-commerce site Abof.com is closing down its operations in
December as the popular business model to offer heavy online discounts--as done by rivals Flipkart and Amazon--could not keep it afloat.
* EXCHANGES: The Securities and Exchange Board of India has empowered stock exchanges to conduct forensic audits on listed companies that seem dubious.
* FMCG: Patanjali Ayurved has hired two investment banks to raise structured credit worth 10 bln
rupees.
* INFORMATION TECHNOLOGY: The government will soon set up a nodal agency under its Indian Computer Emergency Response Team to oversee cyber security incidents in the financial services sector.
* INFRASTRUCTURE: To fast-track development of infrastructure facilities in Mumbai, the Maharashtra government will start work on Mumbai's coastal road project by end of December, Chief Minister Devendra Fadnavis said. JSW Infrastructure looks to expand its ports business through brownfield expansions and potential acquisition with investments of 70 bln rupees.
* PHARMACEUTICAL: The National Pharmaceutical Pricing Authority has allowed Abbott Healthcare to withdraw its Absorb and Absorb GT1 brand of coronary stents with immediate effect from the Indian market. Drug companies conducting clinical trials in India must pay 60% of the compensation amount within 15 days if a patient dies or suffers a permanent disability in the course of a trial, according to new government rules in the works.
* REGULATORY: The Securities and Exchange Board of India Chairman Ajay Tyagi has said there is a need to incentivise domestic institutional investors by re-looking at legislative, regulatory restrictions
to expand market or trading liquidity. SEBI has directed stock exchanges, clearing agents and depositories to take necessary steps to put in
place the systems required to integrate commodity and equity markets.
* SUGAR: Mills in Maharashtra have decided to start cane crushing operations for the 2017-18 (OctSep) season from Nov 1.
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reduce fog-related flight disruptions during the winter season, industry executives said.
* CORPORATE: Tata Sons' shareholders have approved a resolution to convert the conglomerate to a
private company, sources said.
* E-COMMERCE: Aditya Birla Group's e-commerce site Abof.com is closing down its operations in
December as the popular business model to offer heavy online discounts--as done by rivals Flipkart and Amazon--could not keep it afloat.
* EXCHANGES: The Securities and Exchange Board of India has empowered stock exchanges to conduct forensic audits on listed companies that seem dubious.
* FMCG: Patanjali Ayurved has hired two investment banks to raise structured credit worth 10 bln
rupees.
* INFORMATION TECHNOLOGY: The government will soon set up a nodal agency under its Indian Computer Emergency Response Team to oversee cyber security incidents in the financial services sector.
* INFRASTRUCTURE: To fast-track development of infrastructure facilities in Mumbai, the Maharashtra government will start work on Mumbai's coastal road project by end of December, Chief Minister Devendra Fadnavis said. JSW Infrastructure looks to expand its ports business through brownfield expansions and potential acquisition with investments of 70 bln rupees.
* PHARMACEUTICAL: The National Pharmaceutical Pricing Authority has allowed Abbott Healthcare to withdraw its Absorb and Absorb GT1 brand of coronary stents with immediate effect from the Indian market. Drug companies conducting clinical trials in India must pay 60% of the compensation amount within 15 days if a patient dies or suffers a permanent disability in the course of a trial, according to new government rules in the works.
* REGULATORY: The Securities and Exchange Board of India Chairman Ajay Tyagi has said there is a need to incentivise domestic institutional investors by re-looking at legislative, regulatory restrictions
to expand market or trading liquidity. SEBI has directed stock exchanges, clearing agents and depositories to take necessary steps to put in
place the systems required to integrate commodity and equity markets.
* SUGAR: Mills in Maharashtra have decided to start cane crushing operations for the 2017-18 (OctSep) season from Nov 1.
