Today's Sector View – 10.01.2019
* AVIATION: The Directorate General of Civil Aviation will within a week issue additional directives with regard to safety protocols associated with Pratt & Whitney engine-powered A320neo civil aircraft.
- The government is eyeing around $1 bln from the sale of national carrier Air India in the next financial year, a government official said.
- Air India's passenger revenue grew 17% during Apr-Dec of the current fiscal due to better aircraft utilisation and rationalisation of routes, Chairman and Managing Director Pradeep Singh Kharola said.
- Indian aviation watchdog Directorate General of Civil Aviation said it will issue within a week an additional safety protocol directive to airlines which have been facing issues in Pratt & Whitney-powered Airbus planes.
* BANKING: The Reserve Bank of India has allowed charitable institutions, central and state governments or entities owned by them to make deposits under Gold Monetisation Scheme.
* COMMODITIES: Bulk tea producers in the country are likely to get some relief from higher input costs in 2018-19 (Apr-Mar) as prices of the commodity at auctions have been firm, rating agency ICRA said.
* INSURANCE: YES BANK co-founder Rana Kapoor's family office is in negotiations to buy a large stake from the Burman family of Dabur in its life insurance joint venture with Aviva India, sources said. Parallel negotiations are going on with INDUSIND BANK, the former bancassurance partner of the venture, to come on board as a strategic ally.
* POWER: Lenders to seven troubled power projects are close to resolving loans totalling over 740 bln rupees outside the bankruptcy framework, including by selling three of the companies to Adani Group.
* TELECOMMUNICATION: All major telecom operators failed to comply with the quality of service benchmark during Jun-Sep, according to a report by Telecom Regulatory Authority of India.
- The government is eyeing around $1 bln from the sale of national carrier Air India in the next financial year, a government official said.
- Air India's passenger revenue grew 17% during Apr-Dec of the current fiscal due to better aircraft utilisation and rationalisation of routes, Chairman and Managing Director Pradeep Singh Kharola said.
- Indian aviation watchdog Directorate General of Civil Aviation said it will issue within a week an additional safety protocol directive to airlines which have been facing issues in Pratt & Whitney-powered Airbus planes.
* BANKING: The Reserve Bank of India has allowed charitable institutions, central and state governments or entities owned by them to make deposits under Gold Monetisation Scheme.
* COMMODITIES: Bulk tea producers in the country are likely to get some relief from higher input costs in 2018-19 (Apr-Mar) as prices of the commodity at auctions have been firm, rating agency ICRA said.
* INSURANCE: YES BANK co-founder Rana Kapoor's family office is in negotiations to buy a large stake from the Burman family of Dabur in its life insurance joint venture with Aviva India, sources said. Parallel negotiations are going on with INDUSIND BANK, the former bancassurance partner of the venture, to come on board as a strategic ally.
* POWER: Lenders to seven troubled power projects are close to resolving loans totalling over 740 bln rupees outside the bankruptcy framework, including by selling three of the companies to Adani Group.
* TELECOMMUNICATION: All major telecom operators failed to comply with the quality of service benchmark during Jun-Sep, according to a report by Telecom Regulatory Authority of India.
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