 "News digest: Dollar swap facility, cooking fuel subsidy, CV demand and more")
Infy poised for inorganic play
Undeterred by controversies surrounding the acquisition of Panaya and its subsequent decision to sell the Israeli automation firm it had bought in 2015, Infosys, India’s second-largest information technology services firm, is poised for a major inorganic play. Read more
Market expects dollar swap facility for oil companies
The need to open a special dollar swap facility for state-owned oil-marketing companies (OMCs) is one of the measures that could be announced in the coming days after discussions with the oil ministry. Read more
Cooking fuel subsidy to see 66% jump
Rising crude oil prices have upset the government’s estimate for cooking fuel subsidy for this financial year. Government support for liquefied petroleum gas (LPG) and kerosene, constituting the petroleum subsidy, is set to increase by 66 per cent over the budgetary estimate for 2018-19. Read more
Commercial vehicle makers to drive into 1 million unit club in FY19
Extraordinary growth in the commercial vehicle (CV) demand is set to drive the industry into the 1-million unit club for the first time. The industry will join segments like passenger vehicles (PVs) and two-wheelers, which entered the million-unit league several years ago (the auto industry made 4 million PVs and 23 million two-wheelers in 2017-18, or FY18). Read more
Masala bonds: investor base to widen
With the Centre and the Reserve Bank of India decision to allow banks to underwrite and market masala bonds, the investor base for these bonds is expected to widen. Also, removing withholding tax of 5 per cent for bonds issued this year can see some more than usual issuances, but it will unlikely be a flurry of issuances. Read more
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