Wednesday 14 December 2011

SECTORS ALERT (15.12.2011)

SECTORS ALERT (15.12.2011)

* AUTOMOBILE: Honda Siel Cars India has launched a facelift version of its popular City sedan. Renault India will raise prices of its sports utility vehicle Koleos by 100,000 rupees from Jan 1. Suzuki Motor Corp plans to set up a second diesel engine plant in India if the government decides against imposing a punitive tax on diesel-run cars in the national budget, aimed at discouraging car buyers from using the subsidised fuel.

* AVIATION: Domestic airlines such as IndiGo and JET AIRWAYS (INDIA) plan to induct as many as 30 aircraft in the coming year.

* COAL: The coal ministry has decided to bar captive coal miners from raising production beyond the approved level, rejecting industry demands and the proposal from the Planning Commission to allow excess output to ease fuel
scarcity. The power ministry has asked the steel ministry to permit NTPC to exit International Coal Ventures Ltd, the joint venture formed for the acquisition of coal properties abroad, as the firm is finding it economically unviable to go ahead with the plan.

* CORPORATE: A lawyer representing UK 's financial sector regulator in proceedings before a tribunal claimed that the family of the Mumbai-based billionaire Anil Ambani was the source of funds used by an offshore entity to
buy shares of his group companies. Ahmedabad-based Anil Group of Companies has announced its foray into knowledge solutions business through its new venture, Ascent Knowledge Solutions and said it would invest $10 mln next year to provide solutions to the small and medium enterprises in India , US, South Asia and elsewhere.

* EXPORTS: The recent downward revision of the country's export figures has created a $7.2-bln difference between the shipment data of the commerce department and the export income inflows compiled by the Reserve Bank of
India during the same period, posing another uncomfortable riddle for the government and raising the possibility of a second round of data revision.

* FAST MOVING CONSUMER GOODS: Godrej Hershey plans to increase pack size of its candy by 20% from 2.8 gm to 3.4 gm, keeping the price intact at 50 paisa.
* GOVERNMENT: India 's food subsidy bill in 2011-12 (Apr-Mar) is seen ballooning to a record 1 trln rupees. An all-party meet on the Lokpal Bill Wednesday ended without any consensus. Finance Minister Mukherjee has said the government would bring a white paper giving details on black money. Government wants to divest its stake in unlisted public sector enterprises in the form of private placements with up to 49 investors even as it scrambles to meet its asset-sale target amid low investor appetite for public floats in a bear market.

* INSURANCE: Insurance Regulatory and Development Authority is planning to allow domestic insurance companies and reinsurers to establish overseas joint venture firms and subsidiaries by buying stake in foreign insurers.

* MEDIA: Star India will rejig its bouquet of channels with the launch of Life OK, which will offer audiences three programmes in an hour with only a four-minute advertisement slot within that time.

* PARLIAMENT: The Life Insurance Corp (Amendment) Bill has been approved by the Parliament, with the Rajya Sabha giving it the go-ahead. The Companies Bill, 2011, that seeks to enhance the powers of the Serious
Fraud Investigation Office and give it a statutory status, apart from other measures to bring about accountability, was today introduced in the Lok Sabha.

* REGULATORY: Reserve Bank of India has asked asset reconstruction companies to furnish complete details on accounting policies. Securities and Exchange Board of India is likely to keep family offices and special purpose vehicles out of the proposed regulations on private capital pools like private equity and real estate funds. SEBI has transferred a few officials who were probing irregularities done during initial public offers.

* TELECOM: Incumbent GSM operators - BHARTI AIRTEL, IDEA CELLULAR and Vodafone - have demanded the 'first right of refusal on the airwaves they hold after expiry of their rights', marking the first step towards leading telecom companies seeking to protect interests as their mobile permits come up for renewal beginning 2014.

No comments:

Post a Comment