Today's Sector News – 15.02.2019
* AUTOMOBILE: The government plans to incentivise purchase of electric vehicles with rebates of up to 50,000 rupees, bringing them under the umbrella of priority sector lending and lowering interest rates on loans, said an official with knowledge of the matter. The pact between Toyota Motor and Suzuki Motor has started taking shape about a year after they inked an agreement for a mutual supply of hybrids and other models for India and other emerging markets.
* AVIATION: Airbus SE decided to stop making the A380 doubledecker after a dozen years in service, burying a prestige project.
* COMMODITY: The government has increased the minimum price at which mills can sell sugar, by 2 rupees a kg to 31 rupees, to prop up prices and help mills clear cane arrears that shot up 200 bln rupees at the end of January.
* POWER: Sterlite Power has forayed into grid-connected battery energy storage systems, the company has submitted bids for two projects of Salt River Project in Arizona, the US.
* STEEL: The Ahmedabad bench of National Company Law Tribunal today reserved its order on
ArcelorMittal India's 450-bln-rupee resolution plan for Essar Steel India.
* TELECOMMUNICATION: Bharat Sanchar Nigam said there was no proposal with the government calling for its closure. Media reports had earlier said the company has been told by the government to consider its closure due to mounting losses and fledgling business. India's top mobile service operators have asked Department of Telecommunications to defer the Apr 1 deadline for mandatory testing and certification of imported network equipment due to a paucity of labs to undertake such in-country screening.
* AVIATION: Airbus SE decided to stop making the A380 doubledecker after a dozen years in service, burying a prestige project.
* COMMODITY: The government has increased the minimum price at which mills can sell sugar, by 2 rupees a kg to 31 rupees, to prop up prices and help mills clear cane arrears that shot up 200 bln rupees at the end of January.
* POWER: Sterlite Power has forayed into grid-connected battery energy storage systems, the company has submitted bids for two projects of Salt River Project in Arizona, the US.
* STEEL: The Ahmedabad bench of National Company Law Tribunal today reserved its order on
ArcelorMittal India's 450-bln-rupee resolution plan for Essar Steel India.
* TELECOMMUNICATION: Bharat Sanchar Nigam said there was no proposal with the government calling for its closure. Media reports had earlier said the company has been told by the government to consider its closure due to mounting losses and fledgling business. India's top mobile service operators have asked Department of Telecommunications to defer the Apr 1 deadline for mandatory testing and certification of imported network equipment due to a paucity of labs to undertake such in-country screening.
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