DAILY SECTORS ALERT: 28.08.2012

[rupeedesk]

SECTORS ALERT (28.08.2012)

* AVIATION: Air India plans to raise $500-mln bridge loans to buy four Boeing 787s aircraft.

* CEMENT: Citi Venture Capital in talks to invest 4 bln rupees in the cement unit of Shriram Group.

* FERTILISERS: The Parliamentary Standing Committee on Chemicals and Fertilisers is concerned over hoarding of fertilisers.

* GOVERNMENT: Finance Minister P. Chidambaram has denied that the United Progressive Alliance government was planning to seek a vote of confidence in Parliament next week.

* INVESTMENT: A Planning Commission committee favours tax sops for angel investors and has mooted creation of a $1-bln 'fund of funds' and a National Entrepreneurship Mission to promote entrepreneurship in the country. A Planning Commission committee has recommended setting up of structures like the Software Technology Parks of India to enable single window clearances, tax breaks, and easy exits for start-up companies.

* MEDIA: The Competition Commission of India is likely to investigate business practices of TAM Media for alleged fudging of data and use of unfair methodology.

* POWER: The Attorney General has said that the Central Electricity Regulatory Commission could revise the electricity tariffs irrespective of contracts signed by power producers with distribution companies.  India has assured China that orders for over 44,300 MW power equipment from the latter would not be subject to import duties.

* REGULATORY: The Securities and Exchange Board of India has asked all depository participants to make available a 'Basic Services Demat Account' with limited services and reduced costs.

    -The SEBI has relaxed 'offer for sale' norms that allow promoters to sell shares within the cooling-off period.

    -Implementation of the General Anti-Avoidance Rules may be delayed beyond the deadline of Apr 1, 2013 as the Shome Committee may seek more time to submit the second draft of guidelines.

* SUGAR: The Commission for Agriculture Costs and Prices has recommended that the government do away with its levy sugar obligation, and buy the commodity directly from mills at the market price for the Public Distribution System.

* TELECOM: The Gujarat High Court has allowed Vodafone Essar Gujarat to demerge its passive infrastructure assets.

    -The department of telecommunications is readying show cause notices for BHARTI AIRTEL, Vodafone, and IDEA CELLULAR for violating the licence conditions by entering into bilateral roaming pacts in areas where they did not have 3G permits.

By RUPEE DESK

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