FREE DAILY SECTORS ALERT: 05.09.2012

[rupeedesk]

* AUTO: Volkswagen India has slashed prices of the top-end variants of sedan Vento and hatchback Polo and added more features to increase volumes. May launch a utility vehicle in India to grow its sales volume.

* AVIATION: Boeing Co has said it has orders for 100 airplanes from Air India , SPICEJET and JET AIRWAYS. AIRBUS SAS sees airlines buying aircraft worth $3.9 trln in the next two decades, with demand mainly coming from players from India and China .

* COAL: Central Bureau of Investigation has booked five little-known companies for allegedly making false claims to secure coal blocks. Central Bureau of Investigation has filed first information reports accusing Congress member of Rajya Sabha Vijay Jawaharlal Dadra, education minister of Maharashtra Rajendra J. Dadra, among others, of criminal conspiracy, suppression and misrepresentation of facts and violation of the Prevention of Corruption Act, in the allocation of coal mines.

* EXCHANGE: BSE will exclude SKS MICROFINANCE, BAJAJ CORP, and PRAKASH STEELAGE from its BSE IPO index from Monday.

* GAS: BP Plc will finalise its investment plans for the Indian downstream gas sector in 2013.

* INFRASTRUCTURE: RBI Deputy Governor K.C. Chakrabarty has said that the infrastructure sector is getting sufficient credit.

* INFORMATION TECHNOLOGY: Sales of desktop PCs, notebooks, net books and servers in the Indian market are seen rising 15% this financial year to 12.4 mln units.  The Department of Electronics and Information Technology has sought 334 bln rupees in the Twelfth Five-Year Plan (2012-2017) for funding of Promotion of Electronics Hardware Manufacturing programme.

* MONSOON: Tuesday's downpour of 14.8 mm in India was 111% more than the long period average, the highest above-normal level in the season so far, according to India Meteorological Department.

* OIL: The cumulative borrowing of public sector oil marketing companies--Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp--rose to 1.57 trln rupees as on Jun 30 from 1.28 trln rupees as on Mar 31.

* POLICY: STATE BANK OF INDIA Chairman Pratip Chaudhuri said he expects a 100 basis points reduction in Cash Reserve Ratio at RBI's mid-quarter policy review on Sep 17.

* POWER: India 's electricity generation in August stood at 74.34 bln kWh, up 1.7% on year.

* REGULATORY: Investments by Indian companies in overseas joint ventures and subsidiaries rose 56% on month to $1.94 bln in August compared with $1.24 bln in July.

* RETAIL: The government has ruled out any relaxation in the mandatory sourcing norm for global retailers who want to set up fully-owned single brand retail outlets in the country.

* STEEL: The Supreme Court has reserved its order on whether to review its judgement quashing mining leases to JSW STEEL LTD and KALYANI STEELS LTD for iron ore and manganese in Bellary-Hospet region of Karnataka.

* TELECOM: Department of Telecommunications wants foreign long distance telephony players such as Verizon, AT&T, BT and Cable & Wireless, to set up local servers in India .

* TRADE: India and Pakistan will soon sign three agreements on customs cooperation, grievance redressal, and recognition of quality certification to boost bilateral trade.

By RUPEE DESK

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