Today's Sector News - 19.02.2020: 09.00 Am
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* BANKING: The Reserve Bank of India has extended restriction imposed on Mapusa Urban Co-operative of Goa Ltd for another two months till Apr 18.
* COMMODITIES: India's food grain output is likely to climb to a record high of 291.95 mln tn in the current crop year ending June, up 2.4% on year, despite concern about damage to kharif crop and delayed sowing of rabi crop following excess monsoon rainfall.
* ECONOMY: The government is likely to announce measures to address the impact of novel coronavirus on supply chains of certain sectors, after a secretary-level meeting, on Wednesday, Finance Minister Nirmala Sitharaman said.
* INFRASTRUCTURE: Bankrupt Infrastructure Leasing and Financial Services Group has proposed the creation of an infrastructure investment trust to house the group's road assets and compensate lenders by offering units at zero cost.
* PHARMACEUTICAL: Drug exports from India during January rose 12% despite the coronavirus
outbreak, Pharmaceutical Exports Promotion Council of India said. Commerce and Industry Minister Piyush Goyal said the government was planning to meet leaders of the pharmaceutical industry in the second week of March to address issues faced by the industry.
* SUGAR: India will deliver 100,900 tn refined white sugar against the March contract on ICE Futures- Europe.
-Sugar mills that don't exhaust their entire maximum admissible export quantity by Sep 30 or
surrender the unused part by Mar 31 will lose out on subsidy given on buffer stock for the third and fourth quarters.
* TELECOMMUNICATIONS: The Telecom Regulatory Authority of India has proposed withdrawing the cap on the number of short message service offered by telecom service providers to users at a concessional rate as it feels the regulation is no longer required.
* TEXTILE: India Ratings and Research has revised the textiles sector's outlook to 'negative' for 2020-21 (Apr-Mar) from 'stable' as the weak domestic demand growth, threat of cheap imports, and dwindling incentives and exports are likely to keep volumes muted.
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