Today's Sector View – 20.12.2018
* AUTOMOBILE: Manufacturers of two wheelers and passenger cars have increased discounts on their products in December as they look to clear inventory before Dec 31 because, typically, buyers prefer models manufactured in the new year.
* AVIATION: The Directorate General of Civil Aviation will bring the country's air traffic controllers under its licensing regime in adherence with directives issued by International Civil Aviation Organization, the aviation ministry said. Indian airlines are projected to need 2,300 planes worth $320 bln in the next 20 years amid unprecedented domestic passenger growth.
* CORPORATE: Amid reports that the government has sent notices to many early-stage startups to clear taxes on funding raised from angel investors, a senior finance ministry official said that the notices were sent to only those not registered under the Department of Industrial Policy and Promotion.
* ECONOMY: The Reserve Bank of India's Monetary Policy Committee sounded unexpectedly hawkish in the minutes of its Dec 3-5 meeting, with the central bank Deputy Governor Viral Acharya cautioning that it would be premature to change the stance from 'calibrated tightening' at a time of volatile oil prices.
-The government will infuse additional capital into public sector banks, over and above the figure
announced in the 2018-19 (Apr-Mar) Budget, Economic Affairs Secretary Subhash Chandra Garg said.
* NON BANKING FINANCIAL COMPANY: IL&FS Financial Services has defaulted on interest payments of term loans worth 406.3 mln, due on Dec 13, as well as on loans totalling 771.2 mln rupees, due on Dec 14.
-IL&FS has defaulted on interest payment towards non-convertible debentures due on Dec 19.
-The government moved the Mumbai bench of the National Company Law Tribunal seeking to appoint Vijay Kumar and N. Srinivasan to the board of IL&FS.
* PHARMACEUTICALS: Mylan has said it was voluntarily recalling over 1.2 mln bottles of three antihypertension drugs of different count from the US due to the presence of an impurity, N-nitrosodiethylamine, which is believed to cause cancer.
Our Blog Information Learning purpose only
(Paper Trading Practice for Currency, Equity, Commodity Segment)
* AVIATION: The Directorate General of Civil Aviation will bring the country's air traffic controllers under its licensing regime in adherence with directives issued by International Civil Aviation Organization, the aviation ministry said. Indian airlines are projected to need 2,300 planes worth $320 bln in the next 20 years amid unprecedented domestic passenger growth.
* CORPORATE: Amid reports that the government has sent notices to many early-stage startups to clear taxes on funding raised from angel investors, a senior finance ministry official said that the notices were sent to only those not registered under the Department of Industrial Policy and Promotion.
* ECONOMY: The Reserve Bank of India's Monetary Policy Committee sounded unexpectedly hawkish in the minutes of its Dec 3-5 meeting, with the central bank Deputy Governor Viral Acharya cautioning that it would be premature to change the stance from 'calibrated tightening' at a time of volatile oil prices.
-The government will infuse additional capital into public sector banks, over and above the figure
announced in the 2018-19 (Apr-Mar) Budget, Economic Affairs Secretary Subhash Chandra Garg said.
* NON BANKING FINANCIAL COMPANY: IL&FS Financial Services has defaulted on interest payments of term loans worth 406.3 mln, due on Dec 13, as well as on loans totalling 771.2 mln rupees, due on Dec 14.
-IL&FS has defaulted on interest payment towards non-convertible debentures due on Dec 19.
-The government moved the Mumbai bench of the National Company Law Tribunal seeking to appoint Vijay Kumar and N. Srinivasan to the board of IL&FS.
* PHARMACEUTICALS: Mylan has said it was voluntarily recalling over 1.2 mln bottles of three antihypertension drugs of different count from the US due to the presence of an impurity, N-nitrosodiethylamine, which is believed to cause cancer.
RUPEEDESK - SHARE MARKET TRAINING
Whatsapp Number : 91-9094047040 / 91-9841986753
B Com /BBA/ MCom COACHING CLASS - 9944811555
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
