* AVIATION: Air India has invited bids from insurers to cover its aircraft worth
$9 bln
as its insurance policy comes up for renewal on Oct 1. Indian carriers have brought
changes to their pricing strategy and set the grounds to give tough fight to AirAsia.
* BANKING: Bandhan Financial Services has appointed Deloitte Touche Tohmatsu as a
consultant to advise it on setting up banking operations.
* CAPITAL MARKETS: MSCI makes changes to Global Standard index and Global
Small Cap indexes effective Jun 2.
* CONSUMER DURABLES: Daikin Airconditioning India is looking at 25% growth in
business in 2014-15 (Apr-Mar) . After three years of fierce battle with its Indian partner,
France-based Groupe SEB, the world's largest home appliances company, has decided to
buy the remaining 45% in Maharaja Whiteline.
* EXCHANGES: The BSE will change circuit filters on 11 stocks including Sujana
Towers, Riba Textiles, Hindustan Everest Tools among others from Thursday.
* FINANCIAL SERVICES: Despite slower growth in tractor sales this year, non-banking
finance companies continue to bet on tractor financing.
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions Corp expects
business in the second half of the year to be stronger than in the first six months driven by
robust spending from top US clients.
* REGULATORY: Securities and Exchange Board of India plans to relax requirements
on just how much of their stake promoters will have to dilute in an initial public offering
in a move aimed at reviving the primary markets.
* RETAIL: Prominent mall operators are not worried about the possibility of a new
government disallowing foreign super markets in the country as they believe malls are
more dependent on single brand retailing where India allows 100% foreign
investment. Contrary to the perception that a BJP-led government might prohibit foreign
direct investment in sectors like multi-brand retail, senior bureaucrats believe that the
FDI regime could be further opened up. Extended end-of-season discounts that retailers
offered to clear inventories seem to have had an impact on full price sales, forcing them
to rethink on their discounting strategy.
as its insurance policy comes up for renewal on Oct 1. Indian carriers have brought
changes to their pricing strategy and set the grounds to give tough fight to AirAsia.
* BANKING: Bandhan Financial Services has appointed Deloitte Touche Tohmatsu as a
consultant to advise it on setting up banking operations.
* CAPITAL MARKETS: MSCI makes changes to Global Standard index and Global
Small Cap indexes effective Jun 2.
* CONSUMER DURABLES: Daikin Airconditioning India is looking at 25% growth in
business in 2014-15 (Apr-Mar) . After three years of fierce battle with its Indian partner,
France-based Groupe SEB, the world's largest home appliances company, has decided to
buy the remaining 45% in Maharaja Whiteline.
* EXCHANGES: The BSE will change circuit filters on 11 stocks including Sujana
Towers, Riba Textiles, Hindustan Everest Tools among others from Thursday.
* FINANCIAL SERVICES: Despite slower growth in tractor sales this year, non-banking
finance companies continue to bet on tractor financing.
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions Corp expects
business in the second half of the year to be stronger than in the first six months driven by
robust spending from top US clients.
* REGULATORY: Securities and Exchange Board of India plans to relax requirements
on just how much of their stake promoters will have to dilute in an initial public offering
in a move aimed at reviving the primary markets.
* RETAIL: Prominent mall operators are not worried about the possibility of a new
government disallowing foreign super markets in the country as they believe malls are
more dependent on single brand retailing where India allows 100% foreign
investment. Contrary to the perception that a BJP-led government might prohibit foreign
direct investment in sectors like multi-brand retail, senior bureaucrats believe that the
FDI regime could be further opened up. Extended end-of-season discounts that retailers
offered to clear inventories seem to have had an impact on full price sales, forcing them
to rethink on their discounting strategy.
* TELECOM: ZTE Corp moved the Bombay High Court against Loop Mobile asking the
court to restrain the telecom company from selling its business to any party without
permission and that all sums payable by Bharti Airtel to loop Mobile be attached.
India's GSM operators have told telecom department that it should not reduce the base
price suggested by the sector regulator for auction of 800 MHz frequencies, opposing a
demand from companies which use this band to provide CDMA-based services.
Nokia's Chennai unit may shut down as more than 5,000 employees out of total 6,600 opt
for a voluntary retirement scheme. With tax authorities pressing with 210 bln rupees in
unpaid dues, Nokia has written to the prime minister invoking dispute settlement clause
in the India-Finland bilateral trade agreement to settle the row. A meeting of telecom
commission scheduled for May 15 has been postponed and is likely to be held next week.
