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Showing posts from June, 2014

REAL ESTATE IN INDEA

PERFORMANCE OF CARS IMPROVED

Long-term vehicle dependability has improved as 38 per cent of owners said they did not experience any problems with their vehicle, a recent survey said. This is the highest proportion of owners not experiencing any problems since 2012, when 34 per cent of owners did not report any problems, J D Power Asia Pacific 2014 survey said. The study measures problems experienced by original owners of 30-42-month-old vehicles in 169 different problem symptoms across nine vehicle categories. The categories include vehicle exterior; driving experience; features, controls and displays; audio and entertainment; seats; heating, ventilation and air conditioning (HVAC); vehicle interior; engine; and transmission. The study includes 70 models in 12 vehicle segments like entry compact, compact, upper compact, premium compact, entry midsize, midsize, premium midsize, entry luxury,luxury car and MUV/ MPV, SUV and van segments. According to the survey, the overall vehicle dependability averages 218 proble…

EXTERNAL DEBT UP 7%

Higher non-resident deposits led to a rise of 7.6 per cent in India's external debt at USD 440.6 billion for the financial year ended March 31. "India's external debt, as at end-March 2014, was placed at USD 440.6 billion showing an increase of USD 31.2 billion or 7.6 per cent over the level at end-March 2013. "The increase in total external debt during financial year 2013-14 was primarily on account of rise in Non-Resident Deposits," Reserve Bank data showed today. In a release about 'India’s External Debt as at the end of March 2014', it said the surge in outstanding stock of NRI deposits can mainly be attributed to mobilisation of fresh FCNR(B) deposits by commercial banks under the swap scheme offered by the RBI during September to November 2013. In terms of major components, the share of external commercial borrowings (ECBs) continued to be the highest at 33.3 per cent (USD 146.5 billion). It was followed by NRI deposits at 23.6 per cent (USD 103.8 …

INDIAN EMPLOYERS FOCUS ON HEALTH PROGRAMMES

Indian employers are increasingly focusing on health and productivity programmes, which has a direct bearing on the company's financial success, and 3 in every 4 employers expect the focus on their initiatives to grow in the next two years, a report says. Leading the Asia Pacific markets, 44 per cent of the Indian companies plan to put in place a health and wellbeing strategy within the next couple of years, while 48 per cent already have one in place. About 72 per cent of Indian employers, i.e. three in four, believe the focus on such initiatives is likely to grow stronger two years down the line. Globally, companies with the most effective health programmes are more productive and generate 34 per cent higher revenue per employee and such companies enjoy more than 20 percentage points higher market premium. Moreover, the number of leaves taken by employees of these companies goes down for each employee per year. Similarly, employee participation in lifestyle behaviour coaching pr…

TRUST DEFICIT IN JEMS AND JEWELLERY SECTOR

Saddled with bad assets like the Rs 6,000 crore Winsome Diamonds account, lenders have come out strongly against shady practices in the gems and jewellery sector, stating that there exists a "trust deficit" that makes doing business with the industry difficult. "As of today, there is a huge trust deficit within the industry, bankers, regulators and government. This is one segment where trust is most important," Bank of Baroda's Chairman and Managing Director S S Mundra said, speaking at a gathering of the gems and jewellery industry over the weekend. His reservations included the likely diversion of funds by the players into real estate, equities and commodity market investments; an "intermingling" between gold, diamond and jewellery verticals which led to interest arbitrage and "confusion" in working capital positions; and even a lack of trust in the trade data put out which makes it difficult to compute the net exchange earning. Mundra, wh…

INDIA HAS POTENTIAL TO BE THE LARGEST ECONOMY

India, an emerging global economic power, has the potential to become the largest economy in the world, Facebook Chief Operating Officer (COO) Sheryl Sandberg said today. Sandberg, who served as Chief of Staff for the US Treasury Department under President Bill Clinton, said the over USD 2 trillion Indian economy has immense potential to create jobs and drive growth, especially with its huge base of small and medium businesses (SMBs). "India has the potential to become the largest economy in the world. And if you look at economic growth, particularly recently, jobs is a very hard situation all over the world. From the US to developing markets, everyone is very concerned about jobs." "And majority of the growth, as I understand it, is certainly here, certainly in the US. In most countries, I have visited, SMBs are the way to growth," she told PTI. Explaining further, Sandberg, whose previous stint was as Vice President of Global Online Sales and Operations at Google…

NIFTY OUTLOOK FOR 1stJULY & REVIEW

MIDSESSION BETTER


After Three weeks of minor losses, Nifty began the week with a bang and closed above 7600 mark with a gain of more than 1%. Pre budget rally appears to have begun.  While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to remain in a narrow range and consolidate after the big range Monday.
Nifty                               7611    +102
Review for Monday ::  Nifty Scores a TON., PSU Banks Shine  … !!! Market opened better and made most of the gains in the opening session and traded in a narrow range thereafter to close with a gain of more than 1.20%. 42 of Nifty stocks gained and broader market too was quite positive with Advance Decline ratio placed at 3.3:1. All Sectoral indices gained and notable gainers among them were PSUBank, Infra, Pharma, Energy etc., ICICI Bank, ITC, HDFC and ONGC  contributed more than 40 points to Nifty’s gain . BPCL, IDFC, PNB, …

IITans IN CHAI BUSINESS

Quitting high flying jobs in the US, two IITians have joined hands to start a tea cafe chain 'Chaayos' in the NCR region and are looking to raise venture capital to open nearly 50 odd stores across the country.
Currently, there are five cafes with the theme 'Experiments with Chai' in Gurgaon and Noida and five more would be opened by the end of this year.
"We already have raised one round of angel investment of over Rs 2 crore from Powai Lake Ventures, led by Zishaan Hayath who is an angel investor. We are planning to go in for institutional round towards end of this year," said Nitin Saluja, founder of Chaayos.
The chain plans to add another 50 cafés in the next two years by covering at least two more cities and increase penetration in Delhi NCR region.
"We are targeting cities with lots of young population," he said.
Talking about USP of Chaayos, Saluja, an IIT Bombay graduate, said that they give customer the flexibili…

PROTECT COTTON TEXTILE INDUSTRY

The cotton textile industry has a potential to invest up to Rs 4,000 crore leading to generation of 50,000 new jobs if the government accepts the sector's demands in the forthcoming Budget, a top industry official has said. "We have urged the government that Technology Upgradation Fund Scheme (TUFS) should be extended during the blackout period from June 29, 2010 to April 27, 2011, when the scheme was suspended to all cases which have been left out for no fault of the industry," Cotton Textiles Export Promotion Council of India (Texprocil) Deputy Chairman R K Dalmia told PTI here. Dalmia urged Textile Minister Santosh Kumar Gangwar to restore the benefit as investments made during the 18 month gap are eligible investments before and after extension of the TUFS. Should the Rs 1,000 crore of TUFS money surrendered is given back to the textile industry, we can assure that it would help the industry invest up to Rs 4,000 crore and kickstart the process of capacity creation l…

LACK OF AWARENESS HINDER GROWTH OF mWallet

Even with over 900 million subscribers, India is yet to see strong demand for electronic account services that allow consumers to transfer money and pay bills using their mobile phones, experts say. Lack of awareness of these mWallet services and fees imposed by banks on firms offering them continue to curtail the growth of the globally multi-billion dollar segment. mWallet is considered an effective tool in developing nations since these countries generally have higher number of cellphone users than of traditional computers, they added.
Also, since there is lower rate of banked individuals, mobile phones can be a potent medium for taking banking services to the smaller parts of the country. Players like MMP Mobi Wallet Payment Systems (MMPL), Oxigen, Paytm and MobiKwik feel that mWallet can play a major role in not just tier II and III cities but also in rural areas. Besides, mWallet applications enable the users not just to pay their utilities and mobile bills, but also buy various …

ASTRO GUIDE FOR NIFTY

2 IITians OPEN TEA CAFE CHAIN

Quitting high flying jobs in the US, two IITians have joined hands to start a tea cafe chain 'Chaayos' in the NCR region and are looking to raise venture capital to open nearly 50 odd stores across the country.
Currently, there are five cafes with the theme 'Experiments with Chai' in Gurgaon and Noida and five more would be opened by the end of this year.
"We already have raised one round of angel investment of over Rs 2 crore from Powai Lake Ventures, led by Zishaan Hayath who is an angel investor. We are planning to go in for institutional round towards end of this year," said Nitin Saluja, founder of Chaayos.
The chain plans to add another 50 cafés in the next two years by covering at least two more cities and increase penetration in Delhi NCR region.
"We are targeting cities with lots of young population," he said.
Talking about USP of Chaayos, Saluja, an IIT Bombay graduate, said that they give customer the flexibility to customise their chai i…

NIFTY OUTLOOK FOR 30 & REVIEW

CONSOLIDATION MODE


Nifty closed with minor gain for the day and flat for the week. Strong support is seen around 7450 / 7400 mark. Pre budget rally can be expected from next week with out breaching the above support level. While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to consolidate before taking further directional move .
Nifty                               7508.80         +15.60
Review for Friday ::  Oil and Gas stocks triggers Sell off  … !!! Market traded in a zigzag manner with bullish bias and closed with a minor gain. It closed flat even for the week too. 22 of Nifty stocks closed in the green and broader market was positive with Advance Decline ratio at 1.3:1. Pharma, IT indices remained major gainers followed by Realty, FMCG and Energy. Metal, Auto, PSU Bank, Infra and Media indices declined. TCS and ITC, Infy contributed about 25 points to Nifty’s gain whil…

MF's LOOKING TO ATTRACT RETAIL INVESTORS

Having crossed the Rs 10-trillion mark in AUMs for the first time last month, mutual funds are striving hard to see further rise in participation from retail investors, apex industry body AMFI said today. "There has been significant retail participation in equity schemes in the recent months and our effort to reach out to the retail segment and locations beyond Tier 2 and 3 towns has started showing results," Sundeep Sikka, chairman of Association of Mutual Funds in India (AMFI), told PTI on the sidelines of a CII-organised summit. "The rise in retail participation is on the back of more investors opting for systematic investment plans (SIPs)," said Sikka, who is also Chief Executive of Reliance Capital Asset Management. As per AMFI, the AUMs (assets under management) of MF players rose to Rs 10.11 trillion in May from Rs 9.45 trillion in April. There has been a 1 percentage point increase in retail participation from beyond top 15 (B-15) towns with the industry se…

MODI TO FLAG OFF KATRA RAIL LINE

The much-awaited train service to Katra, the base camp for pilgrimage to the Mata Vaishno Devi shrine, is likely to be flagged off by Prime Minister Narendra Modi on July 4. Railway Minister Sadananda Gowda will accompany Modi to the inauguration of the 25-km Udhampur-Katra line, and accordingly all arrangements are being made, said a senior Railway Ministry official. After missing several deadlines, the Railways has finally got the mandatory safety clearance from the Commissioner of Railway Safety (CRS) this month to commission the line passing through a difficult hilly terrain. The CRS had conducted the inspection of the Udhampur- Katra line, constructed at a cost of Rs 1,050 crore, for three days from January 27. There were certain issues raised by the CRS and the mandatory clearance was obtained this month after those were addressed, said the Railway Ministry official. There has been a trial run of the Udhampur-Katra service after it got the CRS clearance. The 53-km Jammu-Udhampur…

KERALA RECORDS 20% LESS RAINFALL

With the south-west monsoon failing to gain momentum, Kerala has registered a 20 per cent deficiency in rainfall after three weeks of its onset, sending danger signals to power and farm sectors. According to the Meteorological Centre here today, the state had so far received only 433.3 mm rainfall since the onset of monsoon on June 6 against the normal 540 mm rains expected in the period. Most districts have recorded shortfall in rains. Deficient rains at the catchment areas of major reservoirs, especially in Idukki, has rendered the power scenario bleak since the state depends heavily on hydro electric project for domestic generation of power. Registering a drastic fall, Idukki reservoir received only 468.2 mm of rainfall till yesterday compared to 1,071.8 mm during the same period last year. Despite passing through a phase of acute power shortage, the Government has decided to lift the 90-minute load-shedding from tomorrow, apparently in view of the commencement of holy month of Ram…

REMITTANCES TO INDIA TI RISE $ 77 BILLION

Remittances to India are expected to grow 8 per cent year-on-year to reach about USD 77 billion in 2014, Xpress Money's Vice President Sudhesh Giriyan said today. Xpress Money is a money transfer company operating in about 150 countries. Remittances to India surged to USD 71 billion during 2013 compared to USD 69.3 billion in 2012. "Remittances to India is expected to grow by 7-8 per cent in 2014. India has been the largest recipient in the world with an 8 per cent year-on-year growth in remittance in the last five years," Giriyan told reporters in an interaction here today. By the end of this year, the company will also launch its services in account transfer remittances, he said, for which regulatory approvals are in the process. Xpress Money currently has about 10 per cent share in the cash remittance market in India and aims to increase it to about 15 per cent in the next five years, Giriyan said. Of the total remittance market in India, about USD 15 billion is for c…

MARKET TURNOVER CROSS Rs. 7 LAKH CRORES

The Indian capital markets' turnover today rose to a record high level of more than Rs 7 lakh crore, as leading bourse NSE witnessed a sharp surge in its trade volumes while BSE also recorded huge volumes. Both the exchanges recorded huge volumes of futures and option (F&O) trades today on the day of expiry of current month derivative contracts. The total F&O turnover at BSE rose to Rs 2,31,391 crore, up from about Rs 1.71 lakh crore yesterday. Earlier on Tuesday, BSE had witnessed a sudden surge in its F&O volumes and had also overtaken its larger rival NSE which traditionally commands over 80 per cent share in derivatives market. With a sudden spike in trade volume of three Sensex option contracts, BSE on Jun 24 had recorded Futures & Options (F&O) turnover of Rs 3.36 lakh crore - higher than that of its bigger rival NSE (Rs 3.29 lakh crore) on that day. At the end of today's trading, the total F&O turnover on NSE stood at Rs 4.29 lakh crore -- as aga…

NIFTY OUTLOOK FOR 27 & REVIEW

VOLATILE MOVEMENTS


Nifty opened lower and closed further lower and below 7500 mark. Nifty was unable to go past 7600 to get into short term bullishness. Strong support is seen around 7450 / 7400 mark. Pre budget rally can be expected from next week with out breaching the above support level. While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be better during midsession and could experience profit booking towards close. Nifty                               7493    -76 Review for Thursday ::  Oil and Gas stocks triggers Sell off  … !!! Market opened lower following Governments’ decision to defer Gas Price hike as Oil Gas sector stocks opened sharply lower. Thereafter, market traded in a narrow range for most part of the day an fell sharply to close below 7500 mark. Fall could also be attributed to derivative expiry woes. 36 of Nifty stocks ended lower and broader market t…

Z3 FROM BLACKBERRY

Targeting young professionals, BlackBerry today launched its mid-range smartphone Z3 in India for Rs 15,990 with a feature that supports Hindi and Hinglish predictive typing.
It is the first smartphone after the Canadian handset maker's partnership with mobile components maker Foxconn, and has BlackBerry 10 operating system (OS) with version 10.2.1.
"Z3 is the first smartphone to be introduced from our strategic partnership with Foxconn and it further strengthens our commitment to enhance our devices portfolio," BlackBerry India Managing Director Sunil Lalvani said at the launch.
It is available for pre-booking with Flipkart, The MobileStore and all BlackBerry Exclusive stores from today till to July 2. It will hit retail stores from July 2.
Featuring a 5-inch QHD display, Z3 is powered by 1.2 GHz Qualcomm Snapdragon 400 dual-core processor with 1.5 GB RAM, and has 8 GB internal storage that can be expanded up to 32 GB using a microSD card.
The handset features BlackBer…

NIFTY OUTLOOK FOR 26th & REVIEW

CLOSING SESSION SUBDUED



Nifty traded in a very narrow range and closed with a minor loss. A narrow day presupposes a Big range day. Nifty needs to close above 7600 to enter into short term bullishness. Nifty has strong support at 7500 /7450 with strong resistance around 7650 / 7700. Being last day of Derivative settlement, scrip specific movements are most likely. While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be better in the opening session and have subdued closing session. Scrip specific movements are most likely.
Nifty                               7569    -11
Review for Wednesday ::  Narrow / Lack luster Movements … !!!
After a huge gain day, market traded in a lack luster manner and closed with minor loss. 23 of Nifty stocks gained but  broader market too was positive with Advance Decline ratio at 1.2:1. Bank, Energy, FMCG, Metal indices declined while Realty…

INDIA MOST CONFIDENT NATION ECONOMICALLY

Formation of "business-friendly" government led by Narendra Modi has made India the most optimistic country economically, looking ahead six months, says a report.
As many as 60 per cent Indians surveyed have predicted that domestic economy would be stronger in the next six months, placing it at the top of the 25 nation-list compiled by global research firm Ipsos.
Besides, India's economic confidence shot up by 6 points to 66 per cent in May compared to the previous month, making it the fourth most economically confident country after Saudi Arabia, Germany and China.
Saudi Arabia led on the parameter with 87 per cent of its people surveyed being optimistic about their economy.
Canada was behind India at the fifth place with 65 per cent economically confident citizens.
"India's economic confidence has got a major boost primarily due to a landslide victory of the business-friendly government led by Narendra Modi, who has vowed to boost growth, control inflation and…

AIR INDIA IN STAR ALLIANCE

In a significant decision, Air India was inducted into the Star Alliance, an exclusive club of 26 major global airlines, which would enable seamless travel for the airline's passengers to over 1,300 destinations and may increase its revenues by five per cent. At its Chief Executive Board meeting in London yesterday, the CEOs of the alliance network unanimously approved the membership of Air India, clearing the way for the national carrier to become the first Indian airline to join a global grouping. Teams of Air India, Star Alliance and its member carriers would complete the final works to ensure the Indian airline can offer all customer benefits from July 11, when it finally joins the grouping formally, an alliance spokesperson said. "We are happy to note that Air India has become part of the Star Alliance. This is one of the biggest alliances in the world," Civil Aviation Minister Ashok Gajapathi Raju told reporters here today. The decision put an end to a seven-year-l…

OIL PRICES DROP IN INTERNATIONAL MARKET

Oil prices extended losses in Asia today on fading fears that the fast-moving crisis in crude producer Iraq could result in a major supply disruption, analysts said. US benchmark West Texas Intermediate (WTI) was down 47 cents at USD 105.70 while Brent crude eased 19 cents to USD 113.93 in mid-morning trade. WTI dropped 66 cents in New York and Brent fell 69 cents in London, after nearly two weeks of gains that pushed prices to nine-month highs last week. "Oil slipped as Iraq's oil production continued to be untouched by ongoing violence in the country," Singapore's United Overseas Bank said in a note to investors. Desmond Chua, market analyst at CMC Markets in Singapore, said the price fall indicated the onset of a "period of consolidation as the majority of the geopolitical premium has been priced in". Jihadist insurgents have captured swathes of Iraqi territory in a lightning offensive toward Baghdad from the north and west of the country. They have howe…

NIFTY OUTLOOK FOR 25th & REVIEW

ZIGZAG MOVEMENTS

Nifty gained smartly after about a Week to close above 7575. Another positive close (above 7600) would make it bullish in very short term, While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to witness zigzag movements with subduedness after the opening hour and recovery thereafter with volatile movements.



Nifty                               7580    +87
Review for Tuesday ::  All round Optimism … !!! Market opened better and surged further by being subdued in the midsession  to close with a gain of more than 1%. 39 of Nifty stocks gained and broader market too was positive with Advance Decline ratio at 3:1. Realty, PSU Bank, Energy, Metal, Infra, Auto  indices gained smartly while Media and Pharma indices fell marginally. .  HDFC, Reliance, ITC and ICICI Bank  contributed more than 45 points to Nifty’s gain while Infy and otak Bank pulled down the market …