Today's Sector News - 20.01.2020: 09.00 Am
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* AVIATION: Private bidders vying for future airport privatisation projects are likely to be restricted to a maximum of two contracts in each round of auction, two government officials said.
* CORPORATE: The government is likely to abolish dividend distribution tax in the upcoming Budget and may instead tax shareholders receiving dividend, in a bid to help improve investor sentiment by addressing the multiplicity of taxes and bringing down the effective tax rates for companies.
* INFRASTRUCTURE: The National Investment and Infrastructure Fund and its joint venture partner Roadis are close to buying two road projects from Essel Infraprojects, a wholly-owned by Subhash Chandra's debt-laden Essel group, in a deal valued at an estimated 15-18 bln rupees.
* TAXATION: Lacklustre goods and service tax collections have forced the Department of Revenue to revise upward its monthly target to 1.15 trln rupees for January and February each for the current fiscal ending March. The aim for GST collections will remain 1.25 trln rupees for March, a finance ministry official said.
* TELECOM: Telecom companies seek to pay 20% of adjusted gross revenue dues for now.
* REGULATORY: The Securities and Exchange Board of India today released a set of guidelines for the rights issues of units by listed Real Estate Investment Trusts and Infrastructure Investment Trusts.
* INSURANCE: The Insurance Development Regulatory Authority of India Chairman S.C. Khuntia has warned insurers against predatory pricing, saying the model is not sustainable, citing examples of telecom and aviation.
* EXCHANGES: National Stock Exchange has launched oil and gas and consumer durables indices.
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