Daily Sector News Today – 28.09.2017
* AGRICULTURE: The government has decided to work in tandem with agriculture start-ups for
technologies required for efficient implementation of its flagship programmes.
* AUTOMOBILE: Hyundai Motor is widening its product portfolio in the compact vehicle segment with two new product introductions.
* AVIATION: Air India has tied up with PUNJAB NATIONAL BANK and INDUSIND BANK for loans worth 32.5 bln rupees to meet its working capital requirements. Two more companies have expressed interest in buying Air India's ground-handling operations.
* ECONOMY: The Union Cabinet cleared a 250.6-bln-rupee scheme for the modernisation of the police force. The scheme will have provisions for modern weapon, women security, and hiring of helicopters, among others. The Delhi High Court provided interim relief to plastic bag manufacturers who had moved the court against the levy of integrated goods and services tax on import of raw material by them.
* FMCG: The Centre has suggested that states and local bodies regulate cigarette shops and bar them
from selling non-tobacco products such as toffees, candies, chips, biscuits, and soft drinks, items that
typically lure children towards tobacco outlets.
* INFRASTRUCTURE: The National Highway Authority of India has created a highway operations
division which will focus on all non-commercial activities to facilitate faster road building and increase efficiency.
* OIL AND GAS: The oil ministry will seek the Union Cabinet's approval to increase the price at which oil marketing companies purchase ethanol from sugar mills for 2017-18 (Oct-Sep) by 2 rupees per ltr. Oil ministry has secured all the necessary approvals from the government and the departments
concerned to sell petroleum products through e-commerce. India plans to offer stakes of up to 60% in oil and gas fields owned by state energy companies that are already under production to private firms
* POWER: The government has said power will not be provided free of cost to any category of
consumers under the recently launched Saubhagya scheme, which aims to provide electricity to all.
* RAILWAY: Indian Railways will float global tenders to buy rails, as STEEL AUTHORITY OF INDIA can't meet the carrier's increased demand.
* REGULATORY: Equity, equity derivatives and currency derivatives brokers will have to keep evidence of orders from their clients before executing the orders, the Securities and Exchange Board of India said. Mutual funds investing in debt securities can now carry out imperfect hedging using interest rate futures without it being considered under the gross exposure limit for derivatives, SEBI said.
* STEEL: The Indonesian government is set to impose a safeguard duty on imports of rolled coil steel, but has exempted 121 countries from the levy. India is among the countries exempted.
Essar Ports is almost doubling its iron ore handling capacity at its Visakhapatnam terminal to benefit
from the growing demand for steel.
* TELECOMMUNICATION: The Union Cabinet has approved the revision of a policy of the Ministry of Defence, which will enable providing defence land to telecommunication operators for setting up shared towers and allied infrastructure. The Department of Telecommunications has sought legal opinion on the recommendations made by the inter-ministerial panel, which was set up to suggest steps to ease financial stress in the sector, Telecom Minister Manoj Sinha said. Government plans to install 1 mln Wi-Fi hotspots across the country by 2019 and bring at least 700 mln users online by 2022.
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technologies required for efficient implementation of its flagship programmes.
* AUTOMOBILE: Hyundai Motor is widening its product portfolio in the compact vehicle segment with two new product introductions.
* AVIATION: Air India has tied up with PUNJAB NATIONAL BANK and INDUSIND BANK for loans worth 32.5 bln rupees to meet its working capital requirements. Two more companies have expressed interest in buying Air India's ground-handling operations.
* ECONOMY: The Union Cabinet cleared a 250.6-bln-rupee scheme for the modernisation of the police force. The scheme will have provisions for modern weapon, women security, and hiring of helicopters, among others. The Delhi High Court provided interim relief to plastic bag manufacturers who had moved the court against the levy of integrated goods and services tax on import of raw material by them.
* FMCG: The Centre has suggested that states and local bodies regulate cigarette shops and bar them
from selling non-tobacco products such as toffees, candies, chips, biscuits, and soft drinks, items that
typically lure children towards tobacco outlets.
* INFRASTRUCTURE: The National Highway Authority of India has created a highway operations
division which will focus on all non-commercial activities to facilitate faster road building and increase efficiency.
* OIL AND GAS: The oil ministry will seek the Union Cabinet's approval to increase the price at which oil marketing companies purchase ethanol from sugar mills for 2017-18 (Oct-Sep) by 2 rupees per ltr. Oil ministry has secured all the necessary approvals from the government and the departments
concerned to sell petroleum products through e-commerce. India plans to offer stakes of up to 60% in oil and gas fields owned by state energy companies that are already under production to private firms
* POWER: The government has said power will not be provided free of cost to any category of
consumers under the recently launched Saubhagya scheme, which aims to provide electricity to all.
* RAILWAY: Indian Railways will float global tenders to buy rails, as STEEL AUTHORITY OF INDIA can't meet the carrier's increased demand.
* REGULATORY: Equity, equity derivatives and currency derivatives brokers will have to keep evidence of orders from their clients before executing the orders, the Securities and Exchange Board of India said. Mutual funds investing in debt securities can now carry out imperfect hedging using interest rate futures without it being considered under the gross exposure limit for derivatives, SEBI said.
* STEEL: The Indonesian government is set to impose a safeguard duty on imports of rolled coil steel, but has exempted 121 countries from the levy. India is among the countries exempted.
Essar Ports is almost doubling its iron ore handling capacity at its Visakhapatnam terminal to benefit
from the growing demand for steel.
* TELECOMMUNICATION: The Union Cabinet has approved the revision of a policy of the Ministry of Defence, which will enable providing defence land to telecommunication operators for setting up shared towers and allied infrastructure. The Department of Telecommunications has sought legal opinion on the recommendations made by the inter-ministerial panel, which was set up to suggest steps to ease financial stress in the sector, Telecom Minister Manoj Sinha said. Government plans to install 1 mln Wi-Fi hotspots across the country by 2019 and bring at least 700 mln users online by 2022.
