Today Sector News – 29.11.2018
* AVIATION: The government has asked Air India's management to find out how much would refurbishing its aircraft interiors and ensuring fully functional inflight entertainment, especially on ultralong-haul nonstops to US. As part of the plan to revive Air India, the government has set a targeted financial improvements of 20 bln rupees per annum through savings as well as revenue enhancement.
* BANKING: The Supreme Court has started its final hearing in pleas seeking parity between operational creditors and financial creditors in the insolvency process.
* ECONOMY: The Central Statistics Office has released GDP growth data for earlier years based on the new GDP methodology, substantially lowering growth estimates for years under the United Progressive Alliance government. Collections under small savings schemes have been flowing in at a healthy pace so far in the current financial year, and may even exceed Budget projections.
* FINANCE: The government may raise up to 170 bln rupees from the further fund offer in Central Public Sector Enterprises-Exchange Traded Fund, by retaining a part of the oversubscription, a senior finance ministry official said.
* NON-BANKING FINANCIAL SEGMENT: The board of Infrastructure Leasing & Financial Services has sought bids for sale of controlling stake held by IL&FS Group in renewable energy assets.
* TELECOMMUNICATION: 'Monsoon Hungama' helped Reliance Jio Infocomm add nearly 10 mln active subscribers in September, taking it past Vodafone to the second place on that parameter, behind BHARTI AIRTEL. Next year, the Telecom Regulatory Authority of India will hold consultations with telecom operators on issues related to spectrum, including on its methodology for valuation, the regulator's chairman, R.S. Sharma, said.
- The Supreme Court granted relief to bankrupt Aircel by paving the way for the company to receive
7.51 bln rupees, which could be used to pay employee salaries and preserve assets to be sold under an ongoing insolvency process.
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* BANKING: The Supreme Court has started its final hearing in pleas seeking parity between operational creditors and financial creditors in the insolvency process.
* ECONOMY: The Central Statistics Office has released GDP growth data for earlier years based on the new GDP methodology, substantially lowering growth estimates for years under the United Progressive Alliance government. Collections under small savings schemes have been flowing in at a healthy pace so far in the current financial year, and may even exceed Budget projections.
* FINANCE: The government may raise up to 170 bln rupees from the further fund offer in Central Public Sector Enterprises-Exchange Traded Fund, by retaining a part of the oversubscription, a senior finance ministry official said.
* NON-BANKING FINANCIAL SEGMENT: The board of Infrastructure Leasing & Financial Services has sought bids for sale of controlling stake held by IL&FS Group in renewable energy assets.
* TELECOMMUNICATION: 'Monsoon Hungama' helped Reliance Jio Infocomm add nearly 10 mln active subscribers in September, taking it past Vodafone to the second place on that parameter, behind BHARTI AIRTEL. Next year, the Telecom Regulatory Authority of India will hold consultations with telecom operators on issues related to spectrum, including on its methodology for valuation, the regulator's chairman, R.S. Sharma, said.
- The Supreme Court granted relief to bankrupt Aircel by paving the way for the company to receive
7.51 bln rupees, which could be used to pay employee salaries and preserve assets to be sold under an ongoing insolvency process.
