FREE DAILY SECTORS ALERT: 18.09.2012

[rupeedesk]

* AVIATION: Six senior officials of Airports Authority of India have been suspended after they were allegedly found to have colluded in giving out contracts. Emirates says it does not plan to buy any stake in Indian air carriers.

* BANKING: CRISIL Research says that the 25-basis-point cut in banks' cash Reserve ratio announced by the RBI will marginally bring down cost of funds for banks.

* COAL: Inter-ministerial group on coal may recommend encashing the bank guarantees for Tubed coal block in Jharkhand allotted to HINDALCO INDUSTRIES and TATA POWER.

* FAST MOVING CONSUMER GOODS: Essel Group forays into the United Arab Emirates with brand 'Chandra', offering herbal beauty and personal care products. IDFC Private Equity may buy 15-20% stake in Pune-based Parag Milk Foods for 1.55-1.60 bln rupees.

* NON-BANKING FINANCIAL COMPANY: Fullerton Financial Holdings will infuse 1.5 bln rupees of equity capital into its NBC Fullerton India Credit Co.

* OIL: The Delhi government will give three extra cooking gas cylinders to the economically-weak in the city at subsidised rates.

* POWER: Cabinet will consider debt restructuring of cash-strapped state electricity boards on Thursday.

* REAL ESTATE: Finance Secretary D.K. Mittal has asked banks to provide funding to partially completed projects on a priority basis. Companies are drawing up plans to tap fresh demand for commercial space, after the government eased norms for multi-brand retail. Private Equity fund ASK Property Investment Advisors has invested 1 bln rupees in Shriram Properties.

* RETAIL: The formal notifications for the recent norms announced by the government for the sector are likely to come in a couple of days.

* STOCK EXCHANGE: The National Stock Exchange will cut annual recovery charges for category 'A' and 'S' members by half to 50,000 rupees from Oct 1.

* TELECOMMUNICATIONS: Vodafone, which is facing a $2.2-bln tax dispute in India , is considering making provisions towards the legal risks, raising questions over whether it is preparing for settlement.

By RUPEE DESK

rupe...@googlegroups.com