Today Sector News – 30.01.2018
* ECONOMY: The government is committed to fiscal consolidation and prudent public expenditure, said Bibek Debroy, chairman of the Economic Advisory Council to the Prime Minister.
* POWER: Sterlite Power has acquired 28.4% stake in its transmission infrastructure business from
Standard Chartered Private Equity for 10.1 bln rupees.
* REGULATORY: The Securities and Exchange Board of India is weighing options to direct stock
exchanges to either stop offering securities-related data feed services to entities trading on bourses
abroad or levy high additional fees on the traders.
* TAXATION: Indirect tax revenue of only 11 months may be factored in for the government's account for the current financial year, due to transition to goods and services tax, according to the Economic Survey for 2017-18 (Apr-Mar). The government may consider resolving two of the biggest tax roadblocks looming over a successful conclusion of the insolvency process in the upcoming Budget, sources said. The income tax department has started scrutinising valuation of all merger and acquisition deals where transfer of shares, second round of funding, or fresh infusion, has taken place in the last two years
* TELECOMMUNICATION: Aircel has entered a strategic debt restructuring process after initially
reluctant lenders led by STATE BANK OF INDIA agreed to convert debt into equity.
CLICK HERE
*********************************************************************************
* POWER: Sterlite Power has acquired 28.4% stake in its transmission infrastructure business from
Standard Chartered Private Equity for 10.1 bln rupees.
* REGULATORY: The Securities and Exchange Board of India is weighing options to direct stock
exchanges to either stop offering securities-related data feed services to entities trading on bourses
abroad or levy high additional fees on the traders.
* TAXATION: Indirect tax revenue of only 11 months may be factored in for the government's account for the current financial year, due to transition to goods and services tax, according to the Economic Survey for 2017-18 (Apr-Mar). The government may consider resolving two of the biggest tax roadblocks looming over a successful conclusion of the insolvency process in the upcoming Budget, sources said. The income tax department has started scrutinising valuation of all merger and acquisition deals where transfer of shares, second round of funding, or fresh infusion, has taken place in the last two years
* TELECOMMUNICATION: Aircel has entered a strategic debt restructuring process after initially
reluctant lenders led by STATE BANK OF INDIA agreed to convert debt into equity.
