Today Sector News – 31.10.2018
* ECONOMY: The Financial Stability and Development Council on Tuesday took stock of the prevailing liquidity crunch plaguing the non-banking finance sector.
* EXCHANGES: The proposed merger between the National Stock Exchange and the Multi Commodity Exchange is unlikely to see the light of the day in the near future.
* INFORMATION TECHNOLOGY: Cognizant cut the top end of its revenue expectation for this year to $16.13 bln and said it recorded a $28 mln loss accrual related to its India bribery discussions with US regulators.
* INFRASTRUCTURE: Cube Highways, backed by global private equity fund I Squared Capital and Abu Dhabi Investment Authority, is close to signing an agreement with IL&FS to purchase its seven toll road projects with an enterprise value of around 200 bln rupees.
-India is examining options including an outright sale of Infrastructure Leasing & Financial Services, as the government tries to stem defaults at the lender with $12.6 bln of debt.
-The board of Infrastructure Leasing & Financial Services is planning to propose several options, including sale of the whole company, some of its subsidiaries and road projects in a bid to bring the beleaguered group
back on the rails.
* POWER: The government on Tuesday invited bids to appoint an adviser for up to two mergers and
acquisitions in the energy sector.
* REGULATORY: Securities and Exchange Board of India has warned investors to avoid participating in unregulated web portals or firms which allow trading on foreign bourses.
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* EXCHANGES: The proposed merger between the National Stock Exchange and the Multi Commodity Exchange is unlikely to see the light of the day in the near future.
* INFORMATION TECHNOLOGY: Cognizant cut the top end of its revenue expectation for this year to $16.13 bln and said it recorded a $28 mln loss accrual related to its India bribery discussions with US regulators.
* INFRASTRUCTURE: Cube Highways, backed by global private equity fund I Squared Capital and Abu Dhabi Investment Authority, is close to signing an agreement with IL&FS to purchase its seven toll road projects with an enterprise value of around 200 bln rupees.
-India is examining options including an outright sale of Infrastructure Leasing & Financial Services, as the government tries to stem defaults at the lender with $12.6 bln of debt.
-The board of Infrastructure Leasing & Financial Services is planning to propose several options, including sale of the whole company, some of its subsidiaries and road projects in a bid to bring the beleaguered group
back on the rails.
* POWER: The government on Tuesday invited bids to appoint an adviser for up to two mergers and
acquisitions in the energy sector.
* REGULATORY: Securities and Exchange Board of India has warned investors to avoid participating in unregulated web portals or firms which allow trading on foreign bourses.
