Today Sector News – 18.06.2018
* AUTOMOBILES: The new National Auto Policy, which may seek emission-linked taxation for automobiles and a technology-agnostic green mobility roadmap, is likely to be finalised in the next three months.
* AVIATION: The listing plan of Air India has suffered a setback, after the Securities and Exchange Board of India denied the state-owned carrier exemption from a rule which makes net profit for the past three years mandatory. The Tatas have called for an emergency board meet to settle the leadership issue at budget airline AirAsia India with Malaysian partner Tony Fernandes on Tuesday. The investigative agencies are examining the involvement of more "players" in facilitating the relaxation of the so-called 5/20 rule by lobbying officials at the behest of AirAsia.
* BANKING: Banks Board Bureau has recommended names of 22 general managers for appointment as executive directors of state-owned banks, according to a release on the advisory body's website. The Centre may rope in multilateral financial institutions, global private equity firms, global pension funds and sovereign wealth funds to invest in the asset reconstruction company for faster resolution of public sector banks' stressed assets.
* OIL AND GAS: India will from November not be able to use European banks for making payments for crude oil it buys from Iran as US sanctions against the Persian Gulf nation take effect, senior officials said. State oil companies plan to add an unprecedented 25,000 petrol pumps in one shot, nearly half as much as operational today, across the country after the government signalled them to do so.
* RAILWAYS: The Appointments Committee of the Cabinet has appointed Girish Pillai, general manager of West Central Railway, as member (traffic) of Railway Board.
* REGULATORY: Securities and Exchange Board of India plans to revise the regulations for share buy-backs where in moreclarity would be provided on various aspects, including on the requirement to make public announcements.
-SEBI has shared its findings about 14,720 entities that indulged in non-genuine trades through illiquid stock options with the Income Tax Department and the Ministry of Corporate Affairs.
* RETAIL: The Walmart-Flipkart deal will be cancerous for the Indian retail industry, the Confederation of All India Traders has said in a letter to Finance Minister Piyush Goyal.
* STEEL: Lenders to Essar Steel may not allow Numetal to change its corporate structure stated in the second round of bidding if it comes up for consideration.
* TELECOMMUNICATION: The 5G committee of the telecom ministry has said that around 6000 MHz of spectrum can be made available without delay for the next generation mobile service.
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* AVIATION: The listing plan of Air India has suffered a setback, after the Securities and Exchange Board of India denied the state-owned carrier exemption from a rule which makes net profit for the past three years mandatory. The Tatas have called for an emergency board meet to settle the leadership issue at budget airline AirAsia India with Malaysian partner Tony Fernandes on Tuesday. The investigative agencies are examining the involvement of more "players" in facilitating the relaxation of the so-called 5/20 rule by lobbying officials at the behest of AirAsia.
* BANKING: Banks Board Bureau has recommended names of 22 general managers for appointment as executive directors of state-owned banks, according to a release on the advisory body's website. The Centre may rope in multilateral financial institutions, global private equity firms, global pension funds and sovereign wealth funds to invest in the asset reconstruction company for faster resolution of public sector banks' stressed assets.
* OIL AND GAS: India will from November not be able to use European banks for making payments for crude oil it buys from Iran as US sanctions against the Persian Gulf nation take effect, senior officials said. State oil companies plan to add an unprecedented 25,000 petrol pumps in one shot, nearly half as much as operational today, across the country after the government signalled them to do so.
* RAILWAYS: The Appointments Committee of the Cabinet has appointed Girish Pillai, general manager of West Central Railway, as member (traffic) of Railway Board.
* REGULATORY: Securities and Exchange Board of India plans to revise the regulations for share buy-backs where in moreclarity would be provided on various aspects, including on the requirement to make public announcements.
-SEBI has shared its findings about 14,720 entities that indulged in non-genuine trades through illiquid stock options with the Income Tax Department and the Ministry of Corporate Affairs.
* RETAIL: The Walmart-Flipkart deal will be cancerous for the Indian retail industry, the Confederation of All India Traders has said in a letter to Finance Minister Piyush Goyal.
* STEEL: Lenders to Essar Steel may not allow Numetal to change its corporate structure stated in the second round of bidding if it comes up for consideration.
* TELECOMMUNICATION: The 5G committee of the telecom ministry has said that around 6000 MHz of spectrum can be made available without delay for the next generation mobile service.
