SECTORS ALERT – 23.05.2014
* AVIATION: Air-India has been put on cash-and-carry mode by Mumbai Airport
authorities after its dues mounted to 4.5 bln rupees. IndiGo has added an enabling
provision to its memorandum of association that allows it to form joint ventures, merge or
sell stake to other companies.
* AUTOMOTIVE: Volkswagen plans to introduce a compact sedan, and may even look
at launching a compact sport utility vehicle, to tap the demand in these segments. * BANKING: Catholic Syrian Bank and RBL, formerly known as Ratnakar Bank, are set
to go for an initial public offering this year.
* COMMODITIES: European Union's Food and Veterinary Office will visit India in
September to judge if ban on Indian mangoes and some vegetables can be lifted.
* GOVERNMENT: The government will issue a request for proposal to appoint a valuer
for the government's residual stake in HINDUSTAN ZINC and Bharat Aluminium Co
only after the new finance minister takes charge and clears the proposal. The government
is likely to re-visit the policy framework for both foreign and domestic investments to
make those more conducive, and will also undertake banking reforms to enhance access
and accountability. The department of disinvestment has suggested "strategic sale of non- strategic" public sector companies. Has asked oil companies to provide 670-bln-rupee
subsidy for 2013-14 (Apr-Mar) to help cover losses of state retailers.
* FINANCIAL SERVICES: TransUnion now has a majority stake in Credit Information
Bureau India, after increasing its holding to 55% from 47% earlier.
* INFRASTRUCTURE: National Highways Authority of India is likely to reject requests
from 4-5 firms including SADBHAV ENGINEERING, and RELIANCE
INFRASTRUCTURE for rescheduling the premia due to the government for constructing
highways. The civil aviation ministry is set to propose to the new government to do away
with the policy of not having an airport within 150 km of an existing airport.
* REGULATORY: The cash transaction limit per investor for investments in mutual
funds has been raised to 50,000 rupees from 20,000 rupees per year, Securities and
Exchange Board of India said. SEBI has increased the cash investment limit in mutual
funds for investors without permanent account number to 50,000 rupees from 20,000
rupees. The Central Bureau of Investigation examined SEBI Chairman U.K. Sinha in
connection with granting permission to FINANCIAL TECHNOLOGIES for setting up
MCX Stock Exchange.
* SUGAR: The Indian Sugar Mills Association has raised the country's 2013-14 (Oct- Sep) sugar output estimate to 24.2 mln tn from 23.8 mln tn earlier.
* WEATHER: Pre-monsoon rains in the country have been weaker than normal,
according to data released by the India Meteorological Department.
* AVIATION: Air-India has been put on cash-and-carry mode by Mumbai Airport
authorities after its dues mounted to 4.5 bln rupees. IndiGo has added an enabling
provision to its memorandum of association that allows it to form joint ventures, merge or
sell stake to other companies.
* AUTOMOTIVE: Volkswagen plans to introduce a compact sedan, and may even look
at launching a compact sport utility vehicle, to tap the demand in these segments. * BANKING: Catholic Syrian Bank and RBL, formerly known as Ratnakar Bank, are set
to go for an initial public offering this year.
* COMMODITIES: European Union's Food and Veterinary Office will visit India in
September to judge if ban on Indian mangoes and some vegetables can be lifted.
* GOVERNMENT: The government will issue a request for proposal to appoint a valuer
for the government's residual stake in HINDUSTAN ZINC and Bharat Aluminium Co
only after the new finance minister takes charge and clears the proposal. The government
is likely to re-visit the policy framework for both foreign and domestic investments to
make those more conducive, and will also undertake banking reforms to enhance access
and accountability. The department of disinvestment has suggested "strategic sale of non- strategic" public sector companies. Has asked oil companies to provide 670-bln-rupee
subsidy for 2013-14 (Apr-Mar) to help cover losses of state retailers.
* FINANCIAL SERVICES: TransUnion now has a majority stake in Credit Information
Bureau India, after increasing its holding to 55% from 47% earlier.
* INFRASTRUCTURE: National Highways Authority of India is likely to reject requests
from 4-5 firms including SADBHAV ENGINEERING, and RELIANCE
INFRASTRUCTURE for rescheduling the premia due to the government for constructing
highways. The civil aviation ministry is set to propose to the new government to do away
with the policy of not having an airport within 150 km of an existing airport.
* REGULATORY: The cash transaction limit per investor for investments in mutual
funds has been raised to 50,000 rupees from 20,000 rupees per year, Securities and
Exchange Board of India said. SEBI has increased the cash investment limit in mutual
funds for investors without permanent account number to 50,000 rupees from 20,000
rupees. The Central Bureau of Investigation examined SEBI Chairman U.K. Sinha in
connection with granting permission to FINANCIAL TECHNOLOGIES for setting up
MCX Stock Exchange.
* SUGAR: The Indian Sugar Mills Association has raised the country's 2013-14 (Oct- Sep) sugar output estimate to 24.2 mln tn from 23.8 mln tn earlier.
* WEATHER: Pre-monsoon rains in the country have been weaker than normal,
according to data released by the India Meteorological Department.
