SECTORS ALERT (19.07.2012)
* AVIATION: Budget airline GoAir plans to raise $200 mln or 11 bln rupees in equity to pare its debt. * BANKING: The Reserve Bank of India will probe whether HSBC Holding's India unit was involved in the alleged money laundering charges on the bank. The finance ministry has reminded public sector banks of restrictions on quotes indicating interest rates in auctions for bulk deposits from state owned enterprises. * CEMENT: Producers are contemplating a cut in prices by 5-10 rupees per kg by the end of this month as demand starts slowing during monsoon. * ENERGY: The government is close to taking a decision on capping the number of subsidised liquefied petroleum gas cylinders to those who are not economically weak. * HOSPITALITY: Hotel companies will soon be able to avail cheap loans as the government has planned to offer infrastructure status to the sector. * INFRASTRUCTURE: The Public-Private Partnership Appraisal Committee on Monday gave clearance to eight new road projects worth 83.56 bln rupees covering a stretch of 757.7 km. * INSURANCE: The Insurance Regulatory and Developmental Authority is actively considering relaxing the 10% ceiling on equity investments by insurers in a company. * MINING: The newly-elected Akhilesh Yadav government in Uttar Pradesh has introduced an e-tendering system for all leases on mining projects. * MONSOON: The cumulative rainfall so far in the monsoon season started Jun 1 has been 22% below normal at 256.4 mm. * MUTUAL FUNDS: The Securities and Exchange Board of India has allowed overseas individual investors to invest up to $1 bln in corporate bonds and debt schemes of mutual funds without any lock in period. * POWER: The Uttar Pradesh government is agreeable to partially fund the debt of power distribution companies in the state, Chief Minister Akhilesh Yadav said. The Union Cabinet may today consider a proposal about imposing a 21% duty on import of equipment used in power generation plants. * STEEL: India 's steel industry can be termed as cautious in 2012-13 (Apr-Mar) due to challenging environment, CARE Ratings said in a report. * SUGAR: The Cabinet Committee on Economic Affairs will today consider raising minimum sugarcane price by 17% for 2012-13. * TAX: The Income Tax Department is probing 18 Kolkata-based "fictitious" firms that were allegedly used by Kalaignar TV to repay a loan of 520 mln rupees. * TELECOMMUNICATION: Unitech Wireless has approached the Foreign Investment Promotion Board seeking to bring in 12 bln rupees as part of the rights share issue that was approved last year. The Empowered Group of Ministers may back Telecom Regulatory Authority of India's recommendation on spectrum base price on Friday. By RUPEE DESK [email protected] -- You received this message because you are subscribed to the Google Groups "Kences1- Rupeedesk" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/kences1?hl=en.
