SECTORS NEW TODAY – 15.09.2016

SECTORS NEW TODAY – 15.09.2016

NIFTY Fut               : SELL ZONE
BANKNIFTY FUT : SELL ZONE

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* AUTOMOBILE: Volvo Car Corp plans to introduce plug-in hybrids across relevant products and also an all-electric vehicle in India in a move to check rise in air pollution.

* AVIATION: AirAsia India is set to grow its fleet size by 20 aircraft by the end of 2018, after which the company will start flying on international routes, said Chief Executive Officer Amar Abrol.

* BANKING: The Competition Commission of India is likely to complete the probe on alleged cartelisation by public sector banks within two months. The Securities and Exchange Board of India has rejected proposals by public sector banks, including that of STATE BANK OF INDIA, to issue perpetual bonds to retail investors, citing potential risks of mis-selling.

 * ECONOMY: Conveying India's readiness to fulfil Afghanistan's requirements in various sectors, Prime Minister Narendra Modi has offered $1 bln aid to the Central Asian nation.

* FINANCIAL MARKETS: The Reserve Bank of India has started deliveries against some of the three-year forward dollar contracts that it entered into as part of the special foreign currency non-resident (bank) deposits window. The Reserve Bank of India has announced the formation of a working group on hedging commodity price risk by residents.

* INFRASTRUCTURE: The National Highways Authority of India plans to release 60 bln rupees worth of pending claims to construction companies.

* REAL ESTATE: China's Fosun International will foray into the sector in India by investing $1 bln to set up a real estate private equity platform.

* ROADS: The road transport ministry and the National Highways Authority of India will take up 82
projects to improve port connectivity as part of the government's plan to connect economic hubs to
major and minor ports.

* SUGAR: The Commission for Agricultural Costs and Prices has recommended that the government raise the fair and remunerative price of sugarcane by 30 rupees to 260 rupees per 100 kg for the 2017-18 season (Oct-Sep).

* TELECOMMUNICATION: Seven companies including BHARTI AIRTEL, Reliance Jio Infocomm, IDEA CELLULAR, RELIANCE COMMUNICATIONS, Vodafone and Tata Teleservices have submitted applications to participate in October's spectrum auction, a source said. 

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