Today Sector News – 01.02.2018
* AUTOMOBILE: Hyundai Motor India will showcase 15 cars and technologies, including KONA compact sport utility vehicle and IONIQ hatchback, at the upcoming Auto Expo, to be held in Greater Noida from Feb 7-14. Car imports from India to the UK spiked last year with an 8.3% hike in registration of Indianbuilt vehicles by buyers in Britain, authority said.
* BANKING: The government called for fresh applications for the post of the Reserve Bank of India
deputy governor, which has been vacant since Jul 31, after S.S. Mundra retired.
* CORPORATE: Bidders for assets of companies undergoing insolvency proceedings face up to a fiveyear lock-in for the shares they acquire.
* ECONOMY: The wide-ranging expectations from the Union Budget have led traders to take into
account a wide range for market volatility, trading options that factor in a 5% fall and 8% gain for
benchmark indices in February. Non-food bank credit for Indian banks grew 10% on year as at the end of December, higher than 4% a year ago, though loan growth for Apr-Dec was muted at 2%, according to data from the Reserve Bank of India.
* INFRASTRUCTURE: The Rewa ultra mega solar park, followed by smart cities, has been the first
beneficiary of reduction in sovereign guarantee fees initiated by the Central government to promote
infrastructure development. Navi Mumbai Special Economic Zone-promoted by RELIANCE INDUSTRIES Chairman Mukesh Ambani, JAI CORP INDIA, SKIL INFRASTRUCTURE and City and Industrial Development Corp-will be developed in phases and be open to industrial units in 2019, The National Highways Authority of India's big plan for monetising road projects to partially fund the government's ambitious 6.9-trln-rupee Bharatmala Project has hit a hurdle.
* PHARMACEUTICALS: About a year since the National Pharma Pricing Authority put a price cap on coronary stents, medical devices industry is making a slow move to self-regulation by capping trade margins.
* POWER: India has sought the formation of a panel from the World Trade Organization's Dispute
Settlement Body to resolve a dispute with the US over the compliance of the organisation's order on
India's solar project rules. The government of Madhya Pradesh, alleged to be delaying payments to wind power producers for more than a year, is offering to get all these dues cleared, on a condition.
* RAILWAYS: Indian Railways will set up a metro and rail coach manufacturing facility in Latur in
Maharashtra on public-private partnership basis. The project is likely it entail investment of more than 15 bln rupees, a top rail ministry official said.
* REGULATORY: The Securities and Exchange Board of India, has agreed to transfer 16.7 bln rupees of its surplus funds to the government.
* TAXATION: E-way bill is mandatory for transport of taxable goods exceeding the value of 50,000
rupees from today.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India has cut mobile number
portability charges per successful transaction to 4 rupees from 19 rupees, effective from Thursday.
The Telecom Regulatory Authority of India is evaluating a consultation process to regulate online video streaming platforms like Netflix, Amazon Prime and Hotstar.Tata Sons will raise about $1.8 bln in fresh loans to extinguish debt in a telecom entity as part of a broader exercise at India's largest conglomerate to be more focused on enhancing returns on invested capital.
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* BANKING: The government called for fresh applications for the post of the Reserve Bank of India
deputy governor, which has been vacant since Jul 31, after S.S. Mundra retired.
* CORPORATE: Bidders for assets of companies undergoing insolvency proceedings face up to a fiveyear lock-in for the shares they acquire.
* ECONOMY: The wide-ranging expectations from the Union Budget have led traders to take into
account a wide range for market volatility, trading options that factor in a 5% fall and 8% gain for
benchmark indices in February. Non-food bank credit for Indian banks grew 10% on year as at the end of December, higher than 4% a year ago, though loan growth for Apr-Dec was muted at 2%, according to data from the Reserve Bank of India.
* INFRASTRUCTURE: The Rewa ultra mega solar park, followed by smart cities, has been the first
beneficiary of reduction in sovereign guarantee fees initiated by the Central government to promote
infrastructure development. Navi Mumbai Special Economic Zone-promoted by RELIANCE INDUSTRIES Chairman Mukesh Ambani, JAI CORP INDIA, SKIL INFRASTRUCTURE and City and Industrial Development Corp-will be developed in phases and be open to industrial units in 2019, The National Highways Authority of India's big plan for monetising road projects to partially fund the government's ambitious 6.9-trln-rupee Bharatmala Project has hit a hurdle.
* PHARMACEUTICALS: About a year since the National Pharma Pricing Authority put a price cap on coronary stents, medical devices industry is making a slow move to self-regulation by capping trade margins.
* POWER: India has sought the formation of a panel from the World Trade Organization's Dispute
Settlement Body to resolve a dispute with the US over the compliance of the organisation's order on
India's solar project rules. The government of Madhya Pradesh, alleged to be delaying payments to wind power producers for more than a year, is offering to get all these dues cleared, on a condition.
* RAILWAYS: Indian Railways will set up a metro and rail coach manufacturing facility in Latur in
Maharashtra on public-private partnership basis. The project is likely it entail investment of more than 15 bln rupees, a top rail ministry official said.
* REGULATORY: The Securities and Exchange Board of India, has agreed to transfer 16.7 bln rupees of its surplus funds to the government.
* TAXATION: E-way bill is mandatory for transport of taxable goods exceeding the value of 50,000
rupees from today.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India has cut mobile number
portability charges per successful transaction to 4 rupees from 19 rupees, effective from Thursday.
The Telecom Regulatory Authority of India is evaluating a consultation process to regulate online video streaming platforms like Netflix, Amazon Prime and Hotstar.Tata Sons will raise about $1.8 bln in fresh loans to extinguish debt in a telecom entity as part of a broader exercise at India's largest conglomerate to be more focused on enhancing returns on invested capital.
