SECTORS ALERT – 21.05.2014
* AVIATION: GoAir plans to seek permission from the civil aviation ministry for
international traffic rights. IndiGo has retained the top spot in domestic aviation space
with a market share of 31.6%. JET AIRWAYS (INDIA) was a distant second with
21.8%, according to data from the Directorate of Civil Aviation for April. AirAsia Group
Chief Executive Officer Tony Fernandes has accused rival IndiGo of hindering the
launch of his airline's services in India.
* BANKING: RBI, which issued banking licences to two new entities last month, will
announce a more regular process of granting bank licences.The successful introduction of
payments banks in the country can reduce the quantity of government securities held by
commercial banks as part of statutory liquidity ratio, Reserve Bank of India governor
said.
* ECONOMY: India's inflation rate based on the Consumer Price Index for Agricultural
Labourers inched up to a three-month high of 8.44% in April from 8.38% in March,
according to the Labour Bureau.
* EXCHANGES: Foreign portfolio investors, who cover their currency risk in overseas
markets, will now be able to hedge their risk of a falling dollar in currency derivatives
segment of Indian stock exchanges.
* GOVERNMENT: The Foreign Investment Promotion Board approved 10 foreign direct
investment proposals worth 1.40 bln rupees at its meeting held on Mar 28.
* OIL & GAS: Gujarat State Petroleum is planning an initial public offering as it is ready
to start gas production at its KG Basin block.
* POWER: The Delhi Electricity Regulatory Commission has refused a tariff hike for
BSES distribution companies.
* RETAIL: UK fashion retailer Marks & Spencer plans to expand to 100 outlets in two
years.
* TELECOM: Vodafone Group Plc's India operations have made profit in the financial
year 2013-14 (Apr-Mar)--the first time since 2007 when the global
telecommunications conglomerate acquired Hutchison Essar Ltd in India.
* TEXTILES: The finance ministry has written to the textile ministry expressing concern
over the rise in prices of cotton textiles, especially cotton yarn, despite higher domestic
production. Vodafone Group Chief Executive Officer Vittorio Colao has indicated that
his company is willing to hold discussions with the new government for an out-of-court
settlement in the long-pending tax issue. Vodafone India has posted its first-ever profit of
133.99 bln rupees for the year ended Mar 31.
* AVIATION: GoAir plans to seek permission from the civil aviation ministry for
international traffic rights. IndiGo has retained the top spot in domestic aviation space
with a market share of 31.6%. JET AIRWAYS (INDIA) was a distant second with
21.8%, according to data from the Directorate of Civil Aviation for April. AirAsia Group
Chief Executive Officer Tony Fernandes has accused rival IndiGo of hindering the
launch of his airline's services in India.
* BANKING: RBI, which issued banking licences to two new entities last month, will
announce a more regular process of granting bank licences.The successful introduction of
payments banks in the country can reduce the quantity of government securities held by
commercial banks as part of statutory liquidity ratio, Reserve Bank of India governor
said.
* ECONOMY: India's inflation rate based on the Consumer Price Index for Agricultural
Labourers inched up to a three-month high of 8.44% in April from 8.38% in March,
according to the Labour Bureau.
* EXCHANGES: Foreign portfolio investors, who cover their currency risk in overseas
markets, will now be able to hedge their risk of a falling dollar in currency derivatives
segment of Indian stock exchanges.
* GOVERNMENT: The Foreign Investment Promotion Board approved 10 foreign direct
investment proposals worth 1.40 bln rupees at its meeting held on Mar 28.
* OIL & GAS: Gujarat State Petroleum is planning an initial public offering as it is ready
to start gas production at its KG Basin block.
* POWER: The Delhi Electricity Regulatory Commission has refused a tariff hike for
BSES distribution companies.
* RETAIL: UK fashion retailer Marks & Spencer plans to expand to 100 outlets in two
years.
* TELECOM: Vodafone Group Plc's India operations have made profit in the financial
year 2013-14 (Apr-Mar)--the first time since 2007 when the global
telecommunications conglomerate acquired Hutchison Essar Ltd in India.
* TEXTILES: The finance ministry has written to the textile ministry expressing concern
over the rise in prices of cotton textiles, especially cotton yarn, despite higher domestic
production. Vodafone Group Chief Executive Officer Vittorio Colao has indicated that
his company is willing to hold discussions with the new government for an out-of-court
settlement in the long-pending tax issue. Vodafone India has posted its first-ever profit of
133.99 bln rupees for the year ended Mar 31.
