Today's Sector News - 24.02.2020: 09.00 Am
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* AUTOMOBILE: Retail sales in the automobile industry are expected to "remain volatile" in the coming months as dealers are unsure about demand and also as they focus on clearing piled-up inventory of Bharat Stage-IV vehicles, the Federation of Automobile Dealers Associations said.
* FAST-MOVING CONSUMER GOODS: Homegrown snack maker Haldiram's has held talks with
global private equity major General Atlantic for a minority stake sale, valuing the eight-decade-old company at $5- 6 bln.
* NON-BANKING FINANCIAL COMPANY: All three suitors for Altico Capital--SSG Capital, Cerberus Capital Management and the incumbent management team--have revised their offers.
* TAXATION: The government is unlikely to garner more than 300 bln rupees through the Vivad se
Vishwas, a direct tax dispute settlement scheme, which would be far lower than the target of 2 trln rupees, a finance ministry official said.
-The Centre paid states and Union Territories a sum of 199.50 bln rupees as goods and services tax
compensation cess on Monday, a government release said.
* TELECOMMUNICATION: The government is keen on balancing the need of the telecom sector, while complying with the Supreme Court's order on the companies' adjusted gross revenue dues and is making efforts to ensure the sector's health does not suffer, a senior telecom ministry official said.
-The Centre is weighing multiple options, including deferring carrier dues other than adjusted gross
revenue liabilities, to ensure that VODAFONE IDEA is not forced to shut shop.
-The Department of Telecommunications is likely to issue a notice to Tata Teleservices before Mar
17 demanding payment of balance adjusted gross revenue dues.
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