FREE SECTORS ALERT: 22.08.2012
rupeedesk
SECTORS ALERT (22.08.2012)
* AVIATION: Go Airlines ( India ) plans to add eight aircraft by July 2014. The two-month strike by its pilots has cost national carrier Air India around 6 bln rupees. Air India may sell five Boeing 777 jets valued at $1.4 bln.
* BANKING: The United Forum of Bank Unions has called a two-day nationwide strike on Wednesday and Thursday to protest the proposed amendment of the Banking Regulation Act.
* COAL: The government is ready to give up its monopoly over coal mining, if Bhartiya Janata Party supports a long-pending legislation to amend the Coal Mine Nationalisation Act, Coal Minister Sriprakash Jaiswal has said.
* CORPORATE: The government has approved revival of 43 sick state-owned companies, and closure of two as per the recommendations of the Board for Reconstruction of Public Sector Enterprises. Banks are considering stricter penalties on companies that wilfully default on loans, including a five-year ban on floating new ventures by the promoters of such companies.
* FUTURES AND OPTIONS: NSE will discontinue derivatives trading in shares of CENTRAL BANK OF INDIA, SHIPPING CORP OF INDIA , NCC, and SOUTH INDIAN BANK from Aug 31.
* MICRO, SMALL AND MEDIUM ENTERPRISES: Minister Vayalar Ravi has warned that IKEA will not be allowed any relaxation in foreign direct investment rules if it affects local small units.
* MONSOON: For the second day Tuesday, India received above average rainfall. Rainfall on Tuesday was 8.6 mm, 8% above the normal weighted average of 8.0 mm. Six states, including Rajasthan, Maharashtra, and Gujarat , are seeking 434.61 bln rupees from the Centre to tide over the crisis stemming from poor rains.
* REAL ESTATE: Finance Minister P. Chidambaram has asked chiefs of state-owned banks to put pressure on real estate developers to lower property prices in order to get the economy moving. The US government has hired property consultancy Knight Frank to carry out a valuation and strategic review of all its real estate properties in India as a possible precursor to the sale of some assets.
* ROADS AND HIGHWAYS: The ministry of roads, highways and transport is looking to award more projects on engineering, procurement and construction basis.
* TAX: The government's plan to roll out the Goods and Services Tax by April next year may get deferred again.
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