Today's Sector News - 27.11.2019: 09.00 Am

Today's Sector News - 27.11.2019: 09.00 Am
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* AUTOMOBILE: Honda Motorcycle & Scooter India has commenced operations at its Manesar plant with permanent employees joining work even as sacked contractual employees continued with their protest at the site.

* BANKING: Oman India Joint Investment Fund II has invested 840 mln rupees in Capital Small Finance Bank for 9.90% stake, said Edelweiss Financial Services, the bank's financial advisor for the transaction.
- The Reserve Bank of India has announced the revised framework on bilateral currency swap
arrangement with central banks in South Asian Association for Regional Cooperation countries, which would facilitate funding for foreign exchange liquidity requirements.

* E-COMMERCE: The Tata Group has infused 2.31 bln rupees in Tata CLiQ, so far this fiscal and has increased authorised share capital of the venture to 15 bln rupees from 11.5 bln rupees, indicating more funds will be infused into the business.

* FINANCE: Ess Kay Fincorp has raised $33 mln in equity investment from its existing private equity investors--TPG Growth, Northwest Venture Partners and Evolvence India.

* INSURANCE: Insurance Regulatory and Development Authority of India has proposed changes to the structure of motor insurance policies to bring the norms in line with global best practices.

* STEEL: The Enforcement Directorate has alleged that Bhushan Power & Steel acquired assets worth 275.59 bln rupees during a period when funds out of loans received from banks were "diverted and routed back as equity" by the company.

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