Today's Sector News - 25.11.2019: 09.00 Am
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* ECONOMY: The government is likely to release details of its ambitious plan to invest 100 trln rupees in the infrastructure sector over six years in mid-December.
- Reserve Bank of India Governor Shaktikanta Das has stressed the need for strong fiscal position of
central and state governments, and said any weakness would be detrimental to growth.
* FAST-MOVING CONSUMER GOODS: The government has moved a bill in the Lok Sabha, seeking to prohibit production and sale of electronic cigarettes. The bill will replace an ordinance promulgated for the ban in September.
* FINANCE: Altico Capital India has defaulted on payment of 125.7 mln rupees, due on Friday.
* RAILWAYS: The government has no plans to privatise Indian Railways and is only outsourcing commercial and onboard services to private players to provide better facilities for commuters.
* REGULATORY: TITAN CO, ULTRATECH CEMENT and NESTLE INDIA will be included in the Sensex from Dec 23, replacing TATA MOTORS, TATA MOTORS DVR, YES BANK, and VEDANTA, S&P BSE said in a notification.
* STEEL: The Supreme Court ruling in Essar Steel matter is a "watershed moment" for the insolvency jurisprudence and takes away excuses of parties to halt resolution process midway, according to Insolvency and Bankruptcy Code Chairperson M.S. Sahoo.
* TAXATION: Not simplifying the Goods and Service Tax regime and "cumbersome" compliance processes will defeat the very purpose of moving to this taxation mechanism, said N.K. Singh, chairman of the 15th Finance Commission.
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