Today Sector News – 17.01.2018
* AVIATION: AirAsia India has ruled any plans to participate in the Air India stake sale, saying its focus remains on the building the existing brand and flying international, which is expected to happen from early next year.
* CEMENT: Binani Cement has attracted the highest bid of 60 bln rupees at the upper ceiling, but the six bidders have attached several clauses which the committee of creditors will evaluate to finalise the best buyer.
* ECONOMY: The e-way bill system has been rolled out on a trial basis across the country today, following which traders and transporters can use the mechanism voluntarily.
* FINANCE: Tata Sons is looking to raise up to $1.5 bln in external commercial borrowing in the next few weeks.
* HOSPITALITY: The restaurant sector is seeking re-introduction of input tax credit from the government and reduction in licences required to operate a restaurant, the National Restaurant Association of India said.
* INFORMATION TECHNOLOGY: Morgan Stanley has upgraded shares of INFOSYS, TECH MAHINDRA, and HCL TECHNOLOGIES to 'overweight', and those of TATA CONSULTANCY SERVICES to 'equal-weight' as improving global macroeconomic scenario could spur spending on information technology services leading to higher earnings for the companies in the sector.
* OIL AND GAS: India will launch its first auction of exploration blocks in eight years on Thursday, inviting bids for 55 blocks. The Tata group has hired EY to explore the sale of Tata Petrodyne, its oil and gas exploration and production business.
* PHARMACEUTICALS: Bayer AG is confident it would get approval from the Competition Commission of India for its proposed buyout of Monsanto, without which the global deal could get stalled.
* REGULATORY: The government has identified 120,000 companies to be struck off from the Registrar of Companies. The Securities and Exchange Board of India is looking at whether Tata Sons' plan of becoming a private limited co from a public one would impact shareholders.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India has extended the deadline for submission of comments on the consultation paper on norms for uplinking and downlinking of television channels to Jan 31 from Jan 18.
-TRAI may cut charges for mobile number portability from the current 19 rupees in 15-20 days, the regulator's Chairman R.S. Sharma said.
-TRAI will likely come out with broad guidelines this week to ensure transparent, non-discriminatory and nonpredatory pricing.
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* CEMENT: Binani Cement has attracted the highest bid of 60 bln rupees at the upper ceiling, but the six bidders have attached several clauses which the committee of creditors will evaluate to finalise the best buyer.
* ECONOMY: The e-way bill system has been rolled out on a trial basis across the country today, following which traders and transporters can use the mechanism voluntarily.
* FINANCE: Tata Sons is looking to raise up to $1.5 bln in external commercial borrowing in the next few weeks.
* HOSPITALITY: The restaurant sector is seeking re-introduction of input tax credit from the government and reduction in licences required to operate a restaurant, the National Restaurant Association of India said.
* INFORMATION TECHNOLOGY: Morgan Stanley has upgraded shares of INFOSYS, TECH MAHINDRA, and HCL TECHNOLOGIES to 'overweight', and those of TATA CONSULTANCY SERVICES to 'equal-weight' as improving global macroeconomic scenario could spur spending on information technology services leading to higher earnings for the companies in the sector.
* OIL AND GAS: India will launch its first auction of exploration blocks in eight years on Thursday, inviting bids for 55 blocks. The Tata group has hired EY to explore the sale of Tata Petrodyne, its oil and gas exploration and production business.
* PHARMACEUTICALS: Bayer AG is confident it would get approval from the Competition Commission of India for its proposed buyout of Monsanto, without which the global deal could get stalled.
* REGULATORY: The government has identified 120,000 companies to be struck off from the Registrar of Companies. The Securities and Exchange Board of India is looking at whether Tata Sons' plan of becoming a private limited co from a public one would impact shareholders.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India has extended the deadline for submission of comments on the consultation paper on norms for uplinking and downlinking of television channels to Jan 31 from Jan 18.
-TRAI may cut charges for mobile number portability from the current 19 rupees in 15-20 days, the regulator's Chairman R.S. Sharma said.
-TRAI will likely come out with broad guidelines this week to ensure transparent, non-discriminatory and nonpredatory pricing.
