FREE DAILY SECTOR REPORT -13.06.2012
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Jun 13, 2012, 5:47:41 AM6/13/12
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FREE DAILY SECTOR REPORT -13.06.2012
SECTORS ALERT (13.06.2012)
* BANKS: Banking secretary said a cut in the cash reserve ratio by the Reserve Bank of India would be a welcome step. Failure to repay debt to one bank will result in an account being classified as bad loan by all banks, as per finance ministry's guidelines issued this month.
* COAL: Prime Minister's Adviser T.K.A. Nair has said Manmohan Singh did not stall or delay a move to allow competitive bidding for captive coal mines in 2004.
* ECONOMY: The government is taking several steps, including faster clearances for projects and fixing regulatory issues, to kick-start the Indian economy, Finance Minister Pranab Mukherjee said. The Finance Ministry has criticised credit rating agency Standard & Poor's methodology to evaluate the Indian economy for being not transparent.
* ELECTIONS: The crucial by-election held for 18 assembly constituencies in Andhra Pradesh saw over 76% voter turnout.
* GOVERNMENT: The Election Commission said the Presidential election will be held on Jul 19 and the result will be announced on Jul 22. Economic Affairs Secretary R. Gopalan said foreign institutional investors are looking for a stable tax regime and easier norms to invest in, and withdraw their funds from India .
* OIL: The Organization of the Petroleum Exporting Countries has kept its 2012 world crude oil demand growth unchanged from its May estimate of 900,000 barrels per day. US has exempted India and six other economies from financial sanctions on Iranian oil imports.
* POWER: Power distribution companies' loan restructuring plan may go to the Cabinet by the end of this month.
* REGULATORY: Ministry of Corporate Affairs has issued fresh notices to TATA TELESERVICES (MAHARASHTRA), Tata Industries and Tata Sons, asking them to furnish their shareholding details by Jun 13.
* ELECTIONS: The crucial by-election held for 18 assembly constituencies in Andhra Pradesh saw over 76% voter turnout.
* GOVERNMENT: The Election Commission said the Presidential election will be held on Jul 19 and the result will be announced on Jul 22. Economic Affairs Secretary R. Gopalan said foreign institutional investors are looking for a stable tax regime and easier norms to invest in, and withdraw their funds from India .
* OIL: The Organization of the Petroleum Exporting Countries has kept its 2012 world crude oil demand growth unchanged from its May estimate of 900,000 barrels per day. US has exempted India and six other economies from financial sanctions on Iranian oil imports.
* POWER: Power distribution companies' loan restructuring plan may go to the Cabinet by the end of this month.
* REGULATORY: Ministry of Corporate Affairs has issued fresh notices to TATA TELESERVICES (MAHARASHTRA), Tata Industries and Tata Sons, asking them to furnish their shareholding details by Jun 13.
* TELECOM: Telecom companies and tower firms have refuted claims of Telecom Equipment Manufactures' Association that tower companies get undue benefits from use of subsidised diesel. Reserve Bank of India has allowed mobile phone companies to mortgage airwaves, allowing them to use spectrum as collateral and raise funds from banks for the upcoming second generation mobile telephony spectrum auction.
| By RUPEE DESK | ||
| rupe...@googlegroups.com | ||
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