DAILY SECTORS ALERT: 14.05.2012
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rupeedesk
Jun 14, 2012, 3:15:26 AM6/14/12
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DAILY SECTORS ALERT: 14.05.2012
* AVIATION: Air-India head
sees induction of Boeing 787 as the only chance for the airline's comeback, as
these aircraft will help it save 20% on its fuel cost.
* BANKING: Government may exempt state-owned banks from paying dividend as part of its move to set up a single holding company to meet their capital requirements.
* CAPITAL GOODS: Government will soon restrict import of used plant and machinery to safeguard the productivity and competitiveness of Indian manufacturers.
* COAL: Coal ministry has said it would review the output of coal companies on a monthly basis instead of once every two months.
* FAST MOVING CONSUMER GOODS: PepsiCo's Frito-Lay plans to launch 50 new products and step up investment in distribution and product innovation. Japan 's Suntory has bought majority stake in subsidiary of Mumbai-based Narang Group to enter the Indian non-alcoholic beverages market.
* OIL: Petroleum and Natural Gas Minister S. Jaipal Reddy said high and volatile crude oil prices are weakening efforts for an expeditious recovery from the current global economic crisis.
* FERTILIZERS: Cabinet Committee on Economic Affairs will today discuss the proposal to hike urea price by 10%.
* GOVERNMENT: Finance Minister Pranab Mukherjee is the Congress party's first- choice candidate for presidential elections due next month, Trinamool Congress leader Mamata Banerjee said. Mamata-Mulayam offer new names for presidential poll, reject Pranab.
* INSURANCE: Finance Minister Pranab Mukherjee expressed concerns about profitability of general insurers.
* OIL & GAS: Italy 's Eni SpA plans to exit its oil and gas prospecting and production business in India and is in talks with OIL AND NATURAL GAS CORP.
* REGULATORY: Tenure of Reserve Bank of India Deputy Governor K.C. Chakrabarty has been extended by three months. The Competition Commission of India has questioned the coordinated pricing strategy of oil-marketing companies for fuels.
* TAX: Foreign companies can be taxed for the income generated from their Indian subsidiaries, as per an order by Authority for Advance Rulings. Calcutta High Court has sent a notice to the Attorney General of India asking it to explain the government's stand on retrospective amendments made in income tax laws in the budget that allow tax levies on past cross-border deals. Government's collection of Securities Transaction Tax has fell more than 14% in Apr-May to 9.45 bln rupees.
* TELECOM: Department of Telecommunications plans to expedite the process of vacation of 55 MHz spectrum from the defence forces to enable refarming of spectrum mainly held by incumbent players in 22 telecom circles.
* BANKING: Government may exempt state-owned banks from paying dividend as part of its move to set up a single holding company to meet their capital requirements.
* CAPITAL GOODS: Government will soon restrict import of used plant and machinery to safeguard the productivity and competitiveness of Indian manufacturers.
* COAL: Coal ministry has said it would review the output of coal companies on a monthly basis instead of once every two months.
* FAST MOVING CONSUMER GOODS: PepsiCo's Frito-Lay plans to launch 50 new products and step up investment in distribution and product innovation. Japan 's Suntory has bought majority stake in subsidiary of Mumbai-based Narang Group to enter the Indian non-alcoholic beverages market.
* OIL: Petroleum and Natural Gas Minister S. Jaipal Reddy said high and volatile crude oil prices are weakening efforts for an expeditious recovery from the current global economic crisis.
* FERTILIZERS: Cabinet Committee on Economic Affairs will today discuss the proposal to hike urea price by 10%.
* GOVERNMENT: Finance Minister Pranab Mukherjee is the Congress party's first- choice candidate for presidential elections due next month, Trinamool Congress leader Mamata Banerjee said. Mamata-Mulayam offer new names for presidential poll, reject Pranab.
* INSURANCE: Finance Minister Pranab Mukherjee expressed concerns about profitability of general insurers.
* OIL & GAS: Italy 's Eni SpA plans to exit its oil and gas prospecting and production business in India and is in talks with OIL AND NATURAL GAS CORP.
* REGULATORY: Tenure of Reserve Bank of India Deputy Governor K.C. Chakrabarty has been extended by three months. The Competition Commission of India has questioned the coordinated pricing strategy of oil-marketing companies for fuels.
* TAX: Foreign companies can be taxed for the income generated from their Indian subsidiaries, as per an order by Authority for Advance Rulings. Calcutta High Court has sent a notice to the Attorney General of India asking it to explain the government's stand on retrospective amendments made in income tax laws in the budget that allow tax levies on past cross-border deals. Government's collection of Securities Transaction Tax has fell more than 14% in Apr-May to 9.45 bln rupees.
* TELECOM: Department of Telecommunications plans to expedite the process of vacation of 55 MHz spectrum from the defence forces to enable refarming of spectrum mainly held by incumbent players in 22 telecom circles.
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