DAILY SECTORS ALERT: 31.05.2012 * AGRICULTURE: Indian Meteorological Department officials say monsoon behind schedule, to hit Kerala 4-5 days late. Fall in demand for cotton seed could hit the seed sector, as farmers have shun cotton crop this summer due to very low prices. Centre suspects foul play in Madhya Pradesh's record wheat procurement in 2012-13 crop marketing year. It suspects private traders may be selling cheap grains from the Public Distribution System to the official procurement system.
* AUTOMOBILE: Toyota Motor has launched its financial arm in India to offer loans to customers for buying its vehicles. * BANKING: Four state-owned banks have been instructed by the government to rework their annual capital requirements and base them on direct capital infusion. * COAL: An inter-ministerial panel on coal gave its approval to the environmental clearances given to Mahan and Chhatrasal coal mines. * COMMODITIES: The Forward Market Commission, the commodity derivatives market regulator, is mulling allowing two days of margin funding. * ENERGY: The government has set up a committee to review existing revenue sharing pacts between the government and companies in the oil and gas sector. * FMCG: Home appliance company Haier India may soon hike prices of its products by 3-5%. * INSURANCE: General insurance cover may become costly as the finance minister has asked the four state-owned insurance companies to better manage claims, cut expenses and end price war, especially in the fire, health, and motor businesses. * MEDIA: Bennett Coleman and Co, popularly known as Times Group is divesting a stake in non-core digital payment and remittance company Times of Money to Dubai-based Network International LCC for around 8-10 bln rupees. * REGULATORY: The RBI has set at 50%, the risk weight on bonds issued by infrastructure finance companies, which cover public-private partnerships. * TAX: About 19 companies, including Vodafone Plc, will have to pay tax dues amounting to 400 bln rupees to the government. * TELECOMMUNICATION: The Department of Telecommunication has asked the Telecom Regulatory Authority of India for more research on spectrum pricing. www.rupeedesk.in -- 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.
