FREE SECTORS ALERT: 12.10.2012

[rupeedesk]

* AUTOMOTIVE: The components industry will grow 8-10% in 2012-13 (Apr-Mar), according to the Automotive Component Manufacturers Association of India.

* CORPORATE: Indian companies raised $2.37 bln through external commercial borrowings and foreign currency convertible bonds in August, more than double from the previous month.

* ECONOMY: Finance Minister P. Chidambaram said there was no serious threat of a downgrade to India 's sovereign rating.

* ENERGY: Supreme Court has issued a notice to the government on its decision to exempt a Russian company from any liability in case of an accident at the nuclear power plant in Tamil Nadu.

* FERTILIZERS: The Union Cabinet has approved a proposal that will lead to the direct transfer of cash subsidies to farmers for fertiliser.

* MINING: A Supreme Court appointed panel has recommended the implementation of a 300-bln-rupee environmental plan funded by miners over 30 years in districts ravaged by mining in Karnataka.

* PORTS: Sri Lanka Ports Authority, controlled by the Sri Lankan government, is in talks with several Indian companies to form consortiums to invest in Indian port projects.

* REGULATORY: Market regulator Securities and Exchange Board of India has said it will reject offer documents if it believes investor safety is compromised or the quality of disclosures are inadequate or risk associated with the issue are high.

* RETAIL: Bharti Walmart is planning to open six to seven more stores in the country by March. The Prime Minister's Office has ordered a probe into the deal between Walmart and Bharti Enterprises following allegations on violation of foreign direct investment norms.

* TELECOM: Chairman of the Joint Parliamentary Committee has written to Lok Sabha Speaker Meira Kumar on whether Finance Minister P. Chidambaram can be called as a witness in the probe on 2G spectrum. The government has granted infrastructure status to the telecom tower providers industry, a move that is expected to attract investments.

* TYRES: The government has imposed definitive anti-dumping duty on import of non-radial bias tyres from China and Thailand .

By RUPEE DESK

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