MOSL: Morning India (16/September/21): 1. Telecom (The government’s relief package offers a lease of life); 2. Auto (PLI scheme for Auto); 3. Oil and Gas (PNGRB re-opens proceedings); 4. AGIC: (Day 3: ‘MANAGEME
Morning India (16/September/21): 1. Telecom (The government’s relief package offers a lease of life); 2. Auto (PLI scheme for Auto); 3. Oil and Gas (PNGRB re-opens proceedings); 4. AGIC: (Day 3: ‘MANAGEMENT SAYS’ )
Today’s top research idea
Telecom: The government's relief package offers a lease of life
The government announced a relief package for the Telecom sector, providing: a) a near term liquidity solution, particularly helpful to VIL, and b) addressed multiple long term issues of the sector. These measures show a strong intent of the government to address the near term liquidity of VIL. But a tariff hike is a must and VIL investment the business is a key monitorable. Bharti and RJio should reap gains from VIL's situation and the government's cleanup of a few legacy issues. The relief package
- Extends the moratorium on spectrum and AGR liabilities by another four years and offers an option to convert the interest amount accrued during the moratorium period into equity.
- Rationalizes the AGR definition
- Extends the spectrum license period to 30 years
- Allows return of spectrum after a 10-year lock-in period
- Scraps SUC on all future spectrum acquisitions
Piping hot news
Government approves PLI scheme for auto and drone sector, offers incentive worth Rs 26,058 crore
The Cabinet has cleared the PLI scheme for the auto sector in what could serve as a booster for the struggling industry to ramp up production and hire more. The government also announced PLI scheme for the drone sector as well. Incentives worth Rs 26,058 cr will be offered under the PLI scheme for auto sector, auto components and drone sector.
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