DAILY SECTORS ALERT – 06.06.2014
* AGRICULTURE: Food Minister Ram Vilas Paswan met his Cabinet colleagues to
discuss various aspects of the sugar policy.
* AVIATION: AirAsia India has stopped collecting a fee for up to 15 kg check-in
baggage, following a reproach from the Directorate General of Civil Aviation.
* INFRASTRUCTURE: The road ministry has prepared a list of 11 projects worth more
than 180 bln rupees that can be awarded within the next six months.
* INSURANCE: Reserve Bank of India said foreign portfolio investors and non- resident
Indians may invest up to 26% under the automatic route in the sector as per the reviewed
foreign direct investment policy. Government likely to raise the foreign direct
investment limit in insurance to 49% with two riders. All companies will have to provide
health insurance, and voting rights of foreigners will be limited to 26%.
* ENERGY: Clarity on key issues in the oil and gas sectors, including revision of gas
prices and pricing of subsidised fuels, is expected next week. Petroleum ministry will
recommend a hike in prices paid to local suppliers such as ONGC, RELIANCE
INDUSTRIES and CAIRN INDIA.
* MINING: Large portions of forests could be opened up for mining as the environment
ministry is reworking the yardstick for identifying forest areas where mining is forbidden.
* PRIVATE EQUITY: Private equity firm Everstone Capital is in talks to buy 30% stake
in lifestyle mall operator Fun Republic.
* REGULATORY: Securities and Exchange Board of India has barred Factorial Master
Fund, a Cayman Islands-based hedge fund, from the Indian securities markets.
* AGRICULTURE: Food Minister Ram Vilas Paswan met his Cabinet colleagues to
discuss various aspects of the sugar policy.
* AVIATION: AirAsia India has stopped collecting a fee for up to 15 kg check-in
baggage, following a reproach from the Directorate General of Civil Aviation.
* INFRASTRUCTURE: The road ministry has prepared a list of 11 projects worth more
than 180 bln rupees that can be awarded within the next six months.
* INSURANCE: Reserve Bank of India said foreign portfolio investors and non- resident
Indians may invest up to 26% under the automatic route in the sector as per the reviewed
foreign direct investment policy. Government likely to raise the foreign direct
investment limit in insurance to 49% with two riders. All companies will have to provide
health insurance, and voting rights of foreigners will be limited to 26%.
* ENERGY: Clarity on key issues in the oil and gas sectors, including revision of gas
prices and pricing of subsidised fuels, is expected next week. Petroleum ministry will
recommend a hike in prices paid to local suppliers such as ONGC, RELIANCE
INDUSTRIES and CAIRN INDIA.
* MINING: Large portions of forests could be opened up for mining as the environment
ministry is reworking the yardstick for identifying forest areas where mining is forbidden.
* PRIVATE EQUITY: Private equity firm Everstone Capital is in talks to buy 30% stake
in lifestyle mall operator Fun Republic.
* REGULATORY: Securities and Exchange Board of India has barred Factorial Master
Fund, a Cayman Islands-based hedge fund, from the Indian securities markets.
