SECTORS ALERT – 05.06.2014
* AVITAION: Air India posted revenue of 440 mln rupees in May, according to sources,
up 16% from a year earlier.
* AUTOMOBILES: Nissan India sold a total of 5,021 vehicles in May, up from 2,080
vehicles during the same period last year.
* BANKING: The Reserve Bank of India may soon change the guidelines for dealing
with Special Mention Accounts, making it mandatory for banks to set up joint lenders'
forums as soon as a borrower delays payments beyond 30 days.
* ENERGY: Global private equity firm KKR is likely to acquire a majority stake in
Avantha Power and Infrastructure. The government may not decontrol diesel prices
completely, and may retain control even after under recovery becomes zero.
* FINANCE: The Reserve Bank of India will conduct a 28-day special term repo variable
rate auction for a notified amount of 200 bln rupees on Friday. India's top companies led
by INDIAN OIL, Vedanta, TATA POWER and POWER FINANCE CORP plan to raise
funds abroad this month to take advantage of renewed investor interest in India.
* GOVERNMENT: Commerce and Industry Minister Nirmala Sitharaman met C.
Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, to
seek advice on steps to boost the Indian economy.
* POLITICS: Prime Minister Narendra Modi has told secretary-level government officers
to take decisions to build a better future for the country, and assured that he would stand
by them.
* REGULATORY: SEBI has attached the Chennai property of Pyramid Saimira Theatre
Ltd's promoter P.S. Saminathan after the latter failed to pay fine for failing to make an
open offer for shares of the company.
* STATES: Total electricity generation in Maharashtra was 66,396 mln units as of
December 2013, down 2% on year.
* TAXATION: Finance Minister Arun Jaitley might look at non-tax revenue and
withdraw some tax exemptions to fund capital expenditure in his first Budget.* TELECOM: The Department of Telecommunications has rejected Vodafone's request
to renew its licences in seven regions where they are expiring in December
* AVITAION: Air India posted revenue of 440 mln rupees in May, according to sources,
up 16% from a year earlier.
* AUTOMOBILES: Nissan India sold a total of 5,021 vehicles in May, up from 2,080
vehicles during the same period last year.
* BANKING: The Reserve Bank of India may soon change the guidelines for dealing
with Special Mention Accounts, making it mandatory for banks to set up joint lenders'
forums as soon as a borrower delays payments beyond 30 days.
* ENERGY: Global private equity firm KKR is likely to acquire a majority stake in
Avantha Power and Infrastructure. The government may not decontrol diesel prices
completely, and may retain control even after under recovery becomes zero.
* FINANCE: The Reserve Bank of India will conduct a 28-day special term repo variable
rate auction for a notified amount of 200 bln rupees on Friday. India's top companies led
by INDIAN OIL, Vedanta, TATA POWER and POWER FINANCE CORP plan to raise
funds abroad this month to take advantage of renewed investor interest in India.
* GOVERNMENT: Commerce and Industry Minister Nirmala Sitharaman met C.
Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, to
seek advice on steps to boost the Indian economy.
* POLITICS: Prime Minister Narendra Modi has told secretary-level government officers
to take decisions to build a better future for the country, and assured that he would stand
by them.
* REGULATORY: SEBI has attached the Chennai property of Pyramid Saimira Theatre
Ltd's promoter P.S. Saminathan after the latter failed to pay fine for failing to make an
open offer for shares of the company.
* STATES: Total electricity generation in Maharashtra was 66,396 mln units as of
December 2013, down 2% on year.
* TAXATION: Finance Minister Arun Jaitley might look at non-tax revenue and
withdraw some tax exemptions to fund capital expenditure in his first Budget.* TELECOM: The Department of Telecommunications has rejected Vodafone's request
to renew its licences in seven regions where they are expiring in December
