Today's Sector News - 11.02.2020: 09.00 Am
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* AUTOMOBILES: Volvo Cars India has introduced Bharat Stage-VI certified cars across its range from this month.
-Japanese utility vehicle manufacturer Isuzu Motors India has started Phase-II operations at SriCity.
It inaugurated a new press shop facility and installed an engine assembly plant at an investment of 4 bln rupees.
* ECONOMY: The government has settled as many as 49,534 cases worth 249.70 bln rupees under its Sabka Vishwas (Legacy Dispute Resolution Scheme, 2019) for disputes relating to indirect tax, Minister of State for Finance Anurag thakur said.
-Reserve Bank of India notified that banks will be allowed to deduct money from their net demand
and time liabilities or NDTL used for computing Cash Reserve Ratio for incremental loans that will be given after Jan 31 and before Jul 31.
-Indian companies invested $2.05 bln in their overseas joint ventures and subsidiaries in January, up
from $1.99 bln a month ago, according to the Reserve Bank of India data.
* FINANCE: IL&FS Group has received approvals from various government authorities for claims worth about 27 bln rupees towards stuck or incomplete road projects.
-Securities and Exchange Board of India is considering to increase the penalty on rating agencies in
connection with lapses on their parts in assigning credit ratings to non-convertible debentures of
Infrastructure Leasing & Financial Services.
* INFORMATION TECHNOLOGY: Securities and Exchange Board of India has shortlisted as many as eight companies, including INFOSYS, WIPRO and IBM India, to implement a data analytics project through which the regulator wants to track possible market manipulations such as insider trading and front running.
* REALTY: Piramal Realty has sold over 300 apartments of its maiden value-housing project at Piramal Vaikunth in Thane, Maharashtra for a total of 2 bln rupees.
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