SECTORS ALERT - 08.05.2014
* AUTOMOBILE: Toyota Kirloskar Motor has launched its crossover vehicle,
Etios Cross, at 576,000-735,000 rupees for the petrol variants, and 690,432-
740,640 rupees for the diesel variants, ex-showroom New Delhi.
* BANKING: The RBI has said that investments made by urban co-operative
banks for acquiring membership of market infrastructure companies will be
reckoned as non-statutory liquidity ratio investments.
AirAsia Berhad, Tata Sons and Arun Bhatia of Telestra Tradeplace, has
received its air operators' permit. The Directorate General of Civil Aviation has
ordered airlines use either the onboard Aircraft Communications Addressing
and Reporting System or Automatic Dependent Surveillance-Broadcast for
real-time tracking. Mumbai International Airport has raised 14 bln rupees of
long-term debt from AXIS BANK and IDBI BANK for capital expenditure and
repayment of debt.
* COAL: The Supreme Court has asked the Central Bureau of Investigation
why the Central Vigilance Commission should not have a say in coal scandal
probe status.
* GOVERNMENT: The ministry of corporate affairs wills most likely issue by
next week a clarification easing the rule that requires companies issuing
debentures to create a redemption reserve and liquidity support fund. Finance
Minister P. Chidambaram has said the government will provide more capital to
Bharatiya Mahila Bank if needed. The proposal for a common demat account
for investors across investment categories is set to be taken up next week by
Financial Stability and Development Council when they meet next week. India
moved a step closer to gain access to bank account information of its citizens in
offshore banks after a host of countries, including Switzerland and Singapore,
committed to share all financial information with other governments.
Management platform for realty firm Kalpataru. US-based Cognizant
Technology Solutions Corp has forecast a sequential sales growth of 3.3-5.4%
for Apr-Jun, and maintained its full-year dollar revenue growth forecast of
16.5%.
* REGULATORY: A few senior fund officials have suggested to SEBI that all
MF houses coming out with a new fund offering be made to go through an
'incubation' phase first, to test and built a track record with sponsor/AMC's own
money.
* TRAVEL & TOURISM: Foreign tourist arrivals in India rose 11.5% on-year
to 0.504 mln in April.
