DAILY SECTORS REPORT: 04.07.2012 * AUTO: Nissan Motor in talks with Indian distribution partner Hover Automotive to buy a significant minority stake in the company for an undisclosed sum.
* AVIATION: Airlines move Delhi High Court on Tuesday against the Airport Economic Regulatory Authority of India's permission to Delhi International Airport for three-fold hike in aeronautical tariff at Indira Gandhi International Airport . * DEFENCE: Mazagon Dock plans to split its 1-trln-rupee naval order book among four Indian private shipbuilders--PIPAVAV DEFENCE, LARSEN & TOUBRO, ABG SHIPYARD, and BHARATI SHIPYARD. * FINANCIAL: Finance ministry directs banks with substantial overseas presence to help fund exporters. Bharti AXA General Insurance plans to double its business in south Indian states in 2012-13 from 2.25 bln rupees last fiscal. * FARM: The Cabinet has approved export of 2 mln tn wheat from the central stocks. * FERTILIZER: Government defers fresh imports of potash to the end of current fiscal year. * MEDIA: Competition Commission of India slaps 80-mln-rupee fine on three leading cable operators--Fastway Transmission, Hathway Sukhamarit Cable & Datacom, and Creative Cable Networking--for cartelisation and disrupting transmission of news channels in Punjab . Sri Adhikari Brothers Television Network plans to launch nine channels by 2012-end in the regional general entertainment and niche segments. * METALS & MINING: Iron ore mining may be allowed to re-start in 14-15 mines in Karnataka's Bellary region by August-end. The Prime Minister's Office has asked coal ministry to help Central Bureau of Investigation in its probe into alleged irregularities in allotment of coal mines without auction between 2006 and 2009. Government is considering allowing power and steel companies to swap their coal linkages among group entities, arms, and special purpose vehicles. Steel ministry likely to hike import duty on manganese ore. * MUTUAL FUNDS: Liquid schemes under the Securities and Exchange Board of India scanner. * PHARMACEUTICALS: Government will set up a committee of secretaries to consider suggestions put up by the pharmaceutical industry on exports. Government mulls forming 20-bln-rupee venture capital fund to promote research and development in the sector. Serum Institute of India acquires Netherlands Vaccine Institute for 2.2 bln rupees. * POWER: Rates on most power exchanges cross 7 rupees a unit and those in southern states shot up to 12 rupees per unit. Banks refuse to provide working capital to Maharashtra State Electricity Distribution Co citing financial strain, with the company's inability to recover 76.23 bln rupees from consumers due to regulatory hassles. * PRIVATE EQUITY: Actis Capital plans to sell controlling stake in Nilgiris Dairy Farm. Crooner Entertainment Fund looks to raise 2.5 bln rupees from high net worth individuals by December. * REGULATORY: SEBI investigation into fund raising through global depositary receipts by seven companies between 2003 and 2009 reveals they did not raise any money from overseas investors; probe widens to breach of Foreign Exchange Management Act. * RETAIL: Bharti Walmart plans to invest 1.04 bln rupees this year to expand outlets across the country. * TELECOM: China 's ZTE Corp has bagged a deal from Bharat Sanchar Nigam to supply 10.15 mln GSM communications lines across India . Cabinet Committee on Infrastructure has approved the increase in budget by 52.36 bln rupees for alternate communication network for the defence services. 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.
