SECTOR NEWS TODAY – 25.08.2016
NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut : BUY ZONE
Click Here & Register To Get 2 days Trial Tips
* AGRICULTURE: The India Meteorological Department is likely to decide on revising its forecast for the southwest monsoon this year by the end of this month, a senior official with the weather bureau said.
* BANKING: The Indian banking sector is currently faced with several "fault lines" that have emerged due to issues like "injudicious" lending and overall sluggishness in loan recovery, President Pranab Mukherjee said.
Bandhan Bank may defer its much anticipated initial public offer until 2021 instead of 2018, as Managing Director Chandrasekhar Ghosh is not comfortable with the deadline. The Unified Payments Interface that is expected to revolutionise the consumer payments system in India through mobiles will go live today.
* ECONOMY: To make the National Pension System popular among private sector employees, the
pension regulator has reduced the minimum annual contribution requirement to 1,000 rupees from 6,000 rupees.
The Delhi Assembly unanimously ratified the Constitution amendment Bill for Goods and Services Tax. Commerce and Industry Minister Nirmala Sitharaman said the ministry does not support foreign direct investment in the tobacco sector.
* INFRASTRUCTURE: The Cabinet Committee on Economic Affairs has approved increasing the
National Highways Interconnectivity Improvement Project cost to 64.61 bln rupees from 51.93 bln rupees earlier. To boost railway infrastructure in the country, the Cabinet Committee on Economic Affairs has given approval to nine line construction projects worth 243.75 bln rupees.
* OIL AND GAS: The National Green Tribunal has asked Numaligarh Refinery to demolish a 2-km long wall that it had constructed near a proposed reserve forest area, which blocked an elephant corridor.
* TAXATION: Cabinet approved the revised Double Tax Avoidance Agreement between India and
Cyprus, allowing source-based taxation of capital gains on transfer of shares for investments made after Apr 1, 2017, instead of residence based taxation.
* SHIPPING: The Cabinet Committee on Economic Affairs has waived penal interest worth around 9 bln rupees on non-payment of loans taken by Cochin Port Trust from the central government.
* SUGAR: Food Minister Ram Vilas Paswan said the ministry is in favour ofbanning sugar futures trade as prices of the sweetener have risen.
* TELECOM: Vodafone India launched 4G services at Karnal and Panipat in Haryana. Bharat Sanchar Nigam will offer 10 GB of data a month for 549 rupees, against the 5 GB offered earlier, the state-owned telecom operator said.
NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut : BUY ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
* BANKING: The Indian banking sector is currently faced with several "fault lines" that have emerged due to issues like "injudicious" lending and overall sluggishness in loan recovery, President Pranab Mukherjee said.
Bandhan Bank may defer its much anticipated initial public offer until 2021 instead of 2018, as Managing Director Chandrasekhar Ghosh is not comfortable with the deadline. The Unified Payments Interface that is expected to revolutionise the consumer payments system in India through mobiles will go live today.
* ECONOMY: To make the National Pension System popular among private sector employees, the
pension regulator has reduced the minimum annual contribution requirement to 1,000 rupees from 6,000 rupees.
The Delhi Assembly unanimously ratified the Constitution amendment Bill for Goods and Services Tax. Commerce and Industry Minister Nirmala Sitharaman said the ministry does not support foreign direct investment in the tobacco sector.
* INFRASTRUCTURE: The Cabinet Committee on Economic Affairs has approved increasing the
National Highways Interconnectivity Improvement Project cost to 64.61 bln rupees from 51.93 bln rupees earlier. To boost railway infrastructure in the country, the Cabinet Committee on Economic Affairs has given approval to nine line construction projects worth 243.75 bln rupees.
* OIL AND GAS: The National Green Tribunal has asked Numaligarh Refinery to demolish a 2-km long wall that it had constructed near a proposed reserve forest area, which blocked an elephant corridor.
* TAXATION: Cabinet approved the revised Double Tax Avoidance Agreement between India and
Cyprus, allowing source-based taxation of capital gains on transfer of shares for investments made after Apr 1, 2017, instead of residence based taxation.
* SHIPPING: The Cabinet Committee on Economic Affairs has waived penal interest worth around 9 bln rupees on non-payment of loans taken by Cochin Port Trust from the central government.
* SUGAR: Food Minister Ram Vilas Paswan said the ministry is in favour ofbanning sugar futures trade as prices of the sweetener have risen.
* TELECOM: Vodafone India launched 4G services at Karnal and Panipat in Haryana. Bharat Sanchar Nigam will offer 10 GB of data a month for 549 rupees, against the 5 GB offered earlier, the state-owned telecom operator said.
