FREE DAILY SECTOR REPORT: 20.06.2012
0 views
Skip to first unread message
rupeedesk
Jun 20, 2012, 10:33:32 AM6/20/12
to
FREE DAILY SECTOR REPORT: 20.06.2012
* AGRICULTURE: The Empowered Group of Ministers on food has approved additional wheat allocation totalling 9 mln tn to help manage the government's overflowing granaries.
* BANKING: RBI has asked banks to lower interest rates chargeable to exporters to pass on the benefit of 2% interest subvention given by the government. A high-level committee of the RBI set up to review the supervisory process for commercial banks has recommended that the so-called CAMELS rating model of supervision be replaced by a risk-based system.
* CEMENT: Competition Commission of India has penalised 39 cement companies, found guilty of forming a cartel to manipulate cement prices.
* ENERGY: Welspun Energy in talks with renewable energy funds to sell a minority stake and raise $150 mln-$200 mln to invest in wind energy farms.
* FERTILISER: Government may lift ban on import of urea by private companies for agriculture in a move to make imports cheaper.
* FOREIGN DIRECT INVESTMENT: Into India fell 40.5% on year in April to $1.86 bln
* INFORMATION TECHNOLOGY: The government is likely to announce incentives to promote IT-related special economic zones in smaller towns.
* OIL & GAS: Government has paid 70 bln rupees as fuel subsidy to INDIAN OIL CORP, HINDUSTAN PETROLEUM CORP, AND BHARAT PETROLEUM CORP.
* TELECOM: Vodafone India has cut 3G tariff rates by 80% for its post- and pre-paid subscribers, offering data usage at 2 paise/10 KB. Telenor may exit India if licence prices at the upcoming spectrum auction turn expensive.
* BANKING: RBI has asked banks to lower interest rates chargeable to exporters to pass on the benefit of 2% interest subvention given by the government. A high-level committee of the RBI set up to review the supervisory process for commercial banks has recommended that the so-called CAMELS rating model of supervision be replaced by a risk-based system.
* CEMENT: Competition Commission of India has penalised 39 cement companies, found guilty of forming a cartel to manipulate cement prices.
* ENERGY: Welspun Energy in talks with renewable energy funds to sell a minority stake and raise $150 mln-$200 mln to invest in wind energy farms.
* FERTILISER: Government may lift ban on import of urea by private companies for agriculture in a move to make imports cheaper.
* FOREIGN DIRECT INVESTMENT: Into India fell 40.5% on year in April to $1.86 bln
* INFORMATION TECHNOLOGY: The government is likely to announce incentives to promote IT-related special economic zones in smaller towns.
* OIL & GAS: Government has paid 70 bln rupees as fuel subsidy to INDIAN OIL CORP, HINDUSTAN PETROLEUM CORP, AND BHARAT PETROLEUM CORP.
* TELECOM: Vodafone India has cut 3G tariff rates by 80% for its post- and pre-paid subscribers, offering data usage at 2 paise/10 KB. Telenor may exit India if licence prices at the upcoming spectrum auction turn expensive.
| By RUPEE DESK |
| rupe...@googlegroups.com |
Reply all
Reply to author
Forward
0 new messages