Today's Sector News - 13.12.2019: 09.00 Am
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* AVIATION: Domestic air passenger traffic rebounded to double-digit growth in November, at 11.2% on year, to 12.9 mln, after having grown in single-digit figures for most months in the current calendar year.
* CORPORATE: Non-telecom public sector undertakings GAIL INDIA, POWER GRID CORP OF INDIA LTD, OIL INDIA and Delhi Metro, which together need to pay a total of over 2 trln rupees as adjusted gross revenue dues, are going to shortly file a review petition in the Supreme Court.
* ECONOMY: Nomura, which believes that the slowdown in India's GDP growth has not bottomed out, has cut the growth forecast for 2019-20 (Apr-Mar) by 20 basis points to 4.7%, citing tight credit conditions due to persistent weakness in the non-banking finance sector and weak global growth.
* AUDITING: The National Financial Reporting Authority has slammed Deloitte Haskins and Sells for its failure to comply with auditing standards in their audit of books of Infrastructure Leasing & Financial Services.
* TELECOMMUNICATIONS: The Department of Telecommunications has invited bids to select an agency to conduct the next e-auction for spectrum in various bands, including the 3,300-3,600 MHz band for fifth generation airwaves.
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