Stocks in news: DLF, Fortis Health, Shyam Telecom, 8K Miles

Indian Sugar Mills Association says-Welcome government decision to extend CENVAT exemption to ethanol produced from molasses-Notification to help government pass on full benefit of approximately Rs 5 per litre of ethanol-Government notification will benefit 130 ethanol producing sugar mills in the country

RBI fixes loan to value ratios (LTV) & risk weights for individual housing loans-RBI lowers risk weights on low value housing loansRBI says-Risk weights on home loans up to Rs 30 lakh lowered from 50 percent to 35 percent-Risk weights on home loans up to Rs 75 lakh cut to 35 percent if LTV ratio below 75 percentAlert: Lower risk weights can help banks lower interest rate on loans

RBI says-Foreign shareholding through NRIs in Shyam Telecom reaches trigger limit-Further buy of Shyam Telecom shares by NRIs allowed only after RBI nod

ICICI Bank, MD, Chanda Kochhar says-Work on bad loans is moving in the right direction-Additions to NPAs should be lower this year compared to the last-No discrepancies over accounts flagged by rating agencies-Credit quality continues to remain stable on retail loans-Have more than 40-45 percent of our lending in retail-Leverage levels of the corporate section have gone up-Banks have been working with promoters to sell assets-Won't say everybody's leverage levels have come down to controllable levels-Rating agencies downgrade even if there is one day default-For banks, on day one you don't make them NPL, there is a curing period-Strategic debt restructuring (SDR) is a very good tool & we would be & we are using it very effectivelyAlert: SDR enables banks to convert loans to equity-Will be taking steps going forward under the formal structure of SDR-Have worked with defaulting companies' promoters to sell core assets-Intend to monetise at least one of the insurance companies within 12 months-Will either list the insurance company or bring in another investor

Government eyes incentives in maintenance, repair & overhaul (MRO) in aviation sector: Sources-Government considering slew of incentives for MRO sector-Government mulls service tax exemption on labour for MRO for 10 yearsAlert: Currently service tax on labour component attracts 10 percent-Government considering lowering of royalty paid to Airport Authority of IndiaAlert: Currently MRO within Airport Authority Of India pays royalty of 13 percent-Government considering SEZ status to MRO facility for tax benefits-PMO prepared note on MRO post consultation with industry-PMO’s note sent to Department Of Industrial Policy & Promotion for viability of incentives last month-Move to incentivise carriers to conduct MRO within India-Other incentives under consideration include CENVAT creditAlert: Civil aviation ministry had sought tax sops in August

Roads & Highways Minister Nitin Gadkari says-Many highway projects were stalled over last few years-Have terminated 41 projects; work has started w.r.t Rs 3.20 lakh projects-Personal target is to construct 100 km of roads per day-Government's aim is to reduce cost of construction for building roads-Technology, innovation & e-governance will drive government's vision-To inaugurate Southeast Asia's largest tunnel in Srinagar by February-March-Looking to operate pods from Dhaula Kuan to Manesar-Ticket prices of pods from Dhaula Kuan to Manesar to be lesser than the metro-Lithium oil battery operated vehicles to become a reality soon-Battery cost to come down to Rs 5 lakh from Rs 55 lakh-Have received tenders from 9-10 companies for 3 hybrid annuity projects-Will invite tenders for remaining 17 hybrid annuity projects in 2-3 months

Financial inclusion: RBI Governor Raghuram Rajan says-Credit has to be offered through traditional institutions-Links between telcom companies, banks must be strengthened for credit supply-Links between telecom & banking industry important for financial inclusion-Traditional banks are rethinking how they do business-For a lot of people in India, access to cash is difficult-Payments services are an important channel for financial inclusion-There is this issue if financial inclusion should be pushed or pulled-Technology is the biggest issue we are grappling with as regulators

DLF says-Evaluated options available to reduce conflict of interest with compulsorily convertible preference shares (CCPS) Holders-To reduce conflict of interest with CCPS holders w.r.t. the rental business-Audit panel recommends that CCPS holders sell CCPS to unrelated third party-CCPS holders to invest CCPS’ sale proceeds back in the company-Have authorised audit panel to finalise strategic terms of the transaction-Will appoint bankers, transaction advisors, tax & legal advisors for transaction-Post transaction, company will continue to hold 60 percent equity in DLF CyberCity Developers-To take necessary steps to adhere to minimum public shareholding norms-Requested DLF CyberCity Developers for full cooperation for consummation of transaction

DLF CFO Ashok Tyagi says-Audit committee looked at multiple options-CCPS will be sold to a potential 3rd party-Too premature to comment on the valuation-Will look at quickest option to ensure compliance with public float

Other stocks and sectors that are in news today:-Fortis Healthcare owned SRL Diagnostics plans Rs 1,250 crore share sale: ToI-Vedanta eyes solar energy business, plans to create 500MW capacity: ET-CARE cuts ratings for Hindalco’s NCDs worth Rs 6,000 crore to AA from AA+-GMR - Delhi International Airport (DIAL) keen on bond issue to repay bank loans: ET-Bharti Airtel launches Wi-Fi app 'Airtel Hangout'-FIPB to consider 11 FDI proposals on October 19-Power Grid: Subsidiary Grid Conductors to manufacture aluminium and aluminium alloy electricity conductors for company-NCDRC to next hear Nestle case on October 15