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Showing posts from November, 2014

RAJAN's TRYST WITH TUESDAYS

It may be sheer coincidence that all monetary policy reviews by RBI Governor Raghuram Govind Rajan this fiscal have taken place on Tuesdays and this would be the case for the upcoming review this week as well. In the current fiscal beginning April 1, 2014, Rajan has undertaken four monetary policy reviews so far and the fifth would take place on December 2, with all these five being on Tuesdays. The former chief economist of IMF, who took over as RBI Governor on September 4, 2013, came out with four policy reviews during the previous fiscal as well and two of them took place again on Tuesdays. The other two reviews by Rajan were on Wednesday and Friday last fiscal. As a result, six out of eight monetary policies announced by him during his entire tenure so far have been on Tuesdays. The ninth review, scheduled for this week, takes place on a Tuesday where RBI is widely expected to keep the benchmark rate unchanged. Incidentally, Rajan has maintained the benchmark interest rate in all …

NEW PLANCOM MAY BE ANNOUNCED THIS MONTH

Work has moved into top gear for finalising the name and structure for the new institution that will replace the 64-year old Planning Commission and the same may be unveiled this December. "The Prime Minister has convened a meeting of the Chief Ministers on December 7 to seek their view points on the structure of the institution which would ultimately replace the Planning Commission," an official source said. The Commission has received many suggestions regarding the name and role of the new body. Some of the suggested names are Sustainable Development Commission, National Development Agency, Social Economic Development Commission or Bharat Pragati Lakshya. Besides, there have been reports about the new body being named as Niti Aayog or Policy Commission. The new institution, which is likely to be headed by the Prime Minister as was the case in Planning Commission, may have four divisions-- Inter-state council, plan evaluation office, UIDAI and DBT. All the divisions would h…

WEEKLY ASTRO TECHNICAL GUIDE FOR NIFTY

CAUTION @ HIGHER LEVELS During the current week Moon would be transiting  from Uttarabhadra  in Pisces to Krittika in Capricorn . Sun transits in  Anuradha   and Jyeshta  in Scorpio. Mercury   transits  in   Anuradha and Jyeshta constellations in  Scorpio  . Venus transits in   Jyeshta in Scorpio. Mars , exalted,  transits in   Uttarashadha  constellation in  Capricorn .   Saturn transits in  Scorpio  in Visakha constellation and Leo Navamsa. Jupiter transits in  Cancer in Aslesha constellation in    Pisces  navamsa ..
Nifty range of 1st December and 2nd December would be the reference range for December and Nifty can be considered bullish above the high of the range and can be considered bearish below the low of the aforementioned range.  
Nifty Outlook for Next Week :: (01.12.2014 to 05.12.2014) …
NIFTY :: 8588 (+111) (RBI Policy holds the Key)
Nifty rallied for the Sixth week in a row. However the net rise during Four weeks has been relatively small aggregating about 3%. Bank stocks were the …

USERS TURNING TO WeChat, WhatsApp

An increasing number of people are now using mobile messaging apps like WeChat and WhatsApp to communicate with their friends rather than using social networking platforms such as Facebook and Google+, according to GlobalWebIndex (GWI) Research. While social networking is one of the fastest rising online activities -- up 187 per cent globally and 242 per cent in Asia Pacific region -- the gap between users with accounts and those actively using is significant. GWI surveyed about 42,000 respondents in the Asia Pacific region, including 5,000 respondents in India during the year. According to GWI, 83 per cent Internet users had Facebook accounts, but only 47 per cent actively used the website. In India, 93 per cent said they had a Facebook account but only 48 per cent had active usage. Also, the number of global users using Facebook to message a friend has continued to decline from 512 million in Q1 2013 to 402 million in Q4 2013 to 313 million in Q3 2014. About 28 per cent of responden…

FUND RISING VIA QIP Rs 30,000 cr

Indian firms have garnered about Rs 30,000 crore through the Qualified Institutional Placement (QIP) route in the first ten months of this year, much higher than Rs 12,634 crore raked up in the entire 2013. Moreover, market experts believe that the fund raising through this route is likely to go up further as many companies have lined up with their plans. According to latest update available with the market regulator Sebi, companies have mopped up Rs 29,582 crore through 33 QIP issues during January-October period of 2014. There was a large gap between the capital raised through QIPs and funds garnered via other routes. A total of Rs 4,733 crore was raked up through rights issue, while Rs 1,522 crore mopped up via initial public offerings (IPOs) during January-October period of the year. Market experts said that return of investor confidence in the equity markets has encouraged some of the large firms to mop up funds through the QIP route. Interestingly, most of the funds were raised …

GOA DESTINATION OF CHOICE

Goa has continued to be the destination of choice for travellers and has bagged the 'Favourite Leisure Destination in India' award by Conde Nast Traveller India.
"Right now, we are focused on improving our infrastructure and other related facilities, so that Goa continues to remain a favourite," Goa Tourism Minister Dilip Parulekar said in a release.
The fact that Goa offers so much for tourists makes it an easy choice when it comes to planning a holiday, Goa Tourism Director Ameya Abhyankar said.
"We are conscious of the fact that tourism is poised for growth in the country and we are taking steps to ensure that Goa leads the way for this growth," he added.
Goa Tourism is also planning to introduce services like sea-planes, heli-tourism and has recently started a 'Hop On, Hop Off' bus tour facility during the ongoing St. Francis Xavier Exposition in old Goa.
"The fact that these awards have been endorsed by readers, who are or have been tourists in…

NIFTY OUTLOOK FOR 1st DEC & REVIEW

MID SESSION BETTER
Nifty                               8588  +94 Nifty opened with a huge gap following positive macro cues due to sharp fall in Crude Prices and closed with a gain of more than 1%. Bank stocks gained the most ahead of RBI policy next week. Further, Short term trend continues to remain positive  and stoploss  may be  raised to  8450 (on close basis).  Nifty spot is expected to encounter resistance at 8625,, 8660 and find support at 8545, 8510 for Monday.   While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market is expected to experience volatile / zigzag movements with better midsession and possible profit booking towards close.
SENSEX VALUATION @ 100 TRILLION RUPEES
Stocks continued their upward sprint for the third straight session today with benchmark Sensex galloping 255.08 points to 28,693.99 and Nifty surging 94.05 points to 8,588.25 as tumbling oil prices strengthened the case for a rate c…

INDIAN TRUCK INDUSTRY - FACTS

The Indian trucking industry has around 5.6 million vehicles on the road and needs around 700,000-800,000 new truck drivers every year, reveals a survey conducted by the Indian Foundation of Transport Research and Training (Delhi). An estimated 80% of the freight in India moves on road rather than rail, with trucks doing most of the carriage. Unfortunately, India tops the chart in road accidents leaving behind all countries. Data compiled by NCRB shows that about 1,39,000 people die in road accidents every year, out of which 26,678 people die due to sleep deprivation. This occurs as drowsy driving is still an elusive highway dilemma for the truck drivers during transit. According to a sample survey of drivers conducted by the Institute of Road Traffic Education (IRTE) in 2013, about 29% drivers were found suffering from sleep disorder. Also about 20% accidents across the globe occur due to 'driver fatigue'. In the year 2006, Mr. Ramesh Agarwal and Mr. Rajender Agarwal, of Agar…

OIL PRICE FURTHER FALLS

BARREL $ 78
Oil prices extended losses in Asia today as speculation swirls that the OPEC oil cartel will maintain output at this week's closely watched meeting despite a global supply glut. US benchmark West Texas Intermediate (WTI) for January delivery fell 24 cents to USD 73.85 while Brent crude for January eased 17 cents to USD 78.16 in mid-morning trade. WTI dived USD 1.69 yesterday while Brent closed down USD 1.35. "At the moment, the outcome of the OPEC meeting on Thursday is very much trumping all other factors," Daniel Ang, investment analyst at Phillip Futures in Singapore, told AFP. "Prices have come under pressure after the meeting between some OPEC members and Russia saw no real concrete measures announced regarding production cuts," Ang said. Members of the Organization of Petroleum Exporting Countries and non-member producers including Russia held talks yesterday ahead of the cartel's key output meeting tomorrow. After the meeting, Venezuelan F…

WEEKLY ASTRO TECHNICAL GUIDE FOR NIFTY

BULLISHNESS WITH STOCK SPECIFIC MOVEMENTS

Planetary Position ::  During the current week Moon would be transiting  from Jyeshta in Scoripio toDhanishta in Capricorn . Sun transits in  Anuradha     in Scorpio. Mercury   transits  in  Visakha and Anuradha constellations in Libra and Scorpio  . Venus transits in   Jyeshta in Scorpio. Mars  transits in   Uttarashadha  constellation in Sagittarius and Capricorn .   Saturn transits in  Scorpio  in Visakha constellation and Cancer Navamsa. Jupiter transits in  Cancer in Aslesha constellation in Pisces  navamsa ..
By the end of the week astro month would be complete and Nifty has been trading above the higher end of the reference range and can be expected to meet the Second target.
Nifty Outlook for Next Week :: (24.11.2014 to 28.11.2014) …  
NIFTY :: 8477 (+87) (Scrip Specific Movements)
Nifty rallied for the Fifth week in a row. However the net rise during Three weeks has been relatively small. Current week rise came on the last day of the week follow…

CONNAUGHT PLACE...A PUBLIC WiFi SPACE

Visitors to Connaught Place can now enjoy free Wi-Fi connectivity. Telecom company Tata Docomo has joined hands with the NDMC for providing the service in the commercial hub in the heart of the national capital.
"NDMC has partnered with Tata Teleservices to provide Wi-Fi service, which will cover the inner and outer circles of one of the most significant business and leisure centres in the city," Tata Docomo said in a statement.
The first 20 minutes of the service would be free of cost and after that one has the options of buying a recharge card, starting from Rs 10 for 30 minutes, Rs 20 for 60 minutes and Rs 50 for 180 minutes, it said.
Launching the service, BJP leader Meenakshi Lekhi said: "These initiatives are in line with Prime Minister Narendra Modi's vision of a Digital India, which would enable greater transparency and better governance".
Tata Docomo already provides such facilities in other public areas including T3 International Airport.

WEEKLY ASTRO TECHNICAL GUIDE FOR NIFTY

Caution at Higher Levels ….!!!
Planetary Position ::  During the current week Moon would be transiting  from Uttara in Leo  to Visakha  in Libra. Sun transits in  Visakha and Anuradha     in Scorpio. Mercury   transits  in  Visakha  constellation  Libra . Venus transits in   Anuradha in Scorpio. Mars  transits in   Poorvashadha constellation in Sagittarius .   Saturn transits in  Scorpio  in Visakha constellation and Cancer Navamsa. Jupiter transits in  Cancer in Aslesha constellation in    Pisces  navamsa ..
Sun Saturn conjunction on Nov 18 is to be watched for any trend reversal. Nifty is trading above the high of Monthly astro reference range and the stop loss is 8295 (below which it becomes bearish for the month)
Nifty Outlook for Next Week :: (17.11.2014 to 21.11.2014) …  
NIFTY :: 8390 (+53) (Short term Bearishness below 8300….) After Two weeks’ of smart rally Nifty moved in a small range for the last Two weeks and appears to be consolidation zone for a Breakout / Breakdown. Macro factors …

BLACK MONEY TRIAL SHIFTS TO ISLAND NATIONS

As India expands its probe into suspected black money stashed abroad, the trail appears to have gone much beyond the Alpine mountain ranges of Switzerland to various island nations and global financial centres like Dubai, Singapore, Luxembourg and Cyprus. While Switzerland has agreed to cooperate and share details in cases where probe by Indian authorities have independently shown 'tax crimes' prima facie, "a few cases" where such information exchange is taking place involve entities and transactions much beyond Swiss shores. While exact number of these "few cases" could not be ascertained, sources said that the ongoing cooperation between Swiss and Indian authorities is generating many more leads for further investigations and they suggest routing of funds through various other jurisdictions that range from well- established financial centres like Dubai, Singapore and Luxembourg to numerous small island nations. India is strengthening its bilateral tax inf…

SEBI HELPS US REGULATOR TO BUST SOCIAL MEDIA FRAUDSTERS

In one of the biggest cross-border regulatory cooperation, markets watchdog Sebi has helped its counterpart in the US bust a major investment scam being run through online social media platforms. The 'Profit Paradise' scam was being run by two Indians -- one based in Mumbai and another in Hyderabad -- in the name of a 'High Yield Investment Product (HYIP)' wherein gullible investors were being enticed through pervasive social media pitches on Facebook, Twitter, Google Plus and YouTube. Such FYIP schemes have become very popular on various online platforms, wherein the operators solicit investments in securities, but most of them have turned to be yet another frontier for defrauding gullible investors in name of high and quick returns. In the latest case, the operators of 'Profit Paradise' were inviting investors to deposit funds that would supposedly be pooled with other investors' funds to make "huge profits" in forex, stocks, and commodity tradi…

GOVT TO AMEND CONSUMER LAW

With an aim to empower consumers, the government plans to amend a law to allow customers to file case against sellers from their place of residence. As per current norms, the case has to be filed at the place of transaction. Also, the requirement of engaging lawyers in the consumer forums is likely to be done away with, if the goods or services availed is of less than Rs 2 lakh value. According to sources, the Ministry of Consumer Affairs proposes to bring amendments to the Consumer Protection Act, 1986 to make it more effective. The proposed amendments would be sent to the Cabinet for approval after seeking views from other ministries, they added. The objective for bringing in amendments is to protect consumer rights by simplifying the judicial process to ensure speedy and inexpensive justice. "Currently, customers have to file case against sellers from the place where they have bought the goods. We propose to allow customers to file the case from the place where they reside,&qu…

1 STOCK @ A PRICE OF SMART PHONE

As stock market continues its record-breaking rally, there are many shares with per-unit price running into thousands of rupees and equal the cost of buying a smartphone, a LCD television or even a split AC. Helped by the new government's reform push and growing expectations for better economic scenario, the foreign funds have been on a buying spree in stock market and the benchmark indices Sensex and Nifty have scaled new peaks above 28,000 and 8,400 levels, respectively. The Sensex has rallied by 33 per cent so far this year, making India the best performer among the world's ten biggest markets. At the same time, stock prices of at least 37 companies, out of the top-100 listed firms in India, now cost Rs 1,000 or above for one share, as per the stock exchange data. Leading the charts in terms of per-share value, Bosch commands a share price of Rs 16,571 apiece, while Eicher Motors and Shree Cements have share prices of Rs 14,001 and Rs 9,077, respectively. The market value o…

INFLATION AT 5 YEAR LOW

Continuing decline in food prices, including vegetables, pulled wholesale price inflation to a five year low of 1.77 per cent in October.
The Wholesale Price Index (WPI) based inflation was at 2.38 per cent in September and 7.24 per cent in October 2013.
As per data released by the government today, the food inflation fell to a nearly two-and-half year low of 2.7 per cent. Food inflation is on decline since May.
The sharp drop in WPI inflation, which fell for the fifth month in a row, came at the back of retail inflation declining to a record low of 5.52 per cent in October.
The rate of price rise in onion contracted 59.77 per cent as compared to a contraction of 58.12 per cent in September.
In case of vegetables, the contraction was 19.61 per cent, while in protein rich items of egg, meat and fish it was 2.58 per cent in October.
During the month, inflation in potato stood at 82.11 per cent, against 90.23 per cent in the previous month.
Inflation in manufactured products, like sugar, edible…

RETAIL PARTICIPATION IN MFs INCREASE

Retail participation in mutual funds from beyond the top 15 cities in the country has increased remarkably in the past 18 months, due to joint efforts made by the MF houses and stock market regulator SEBI, says AMFI. The MF industry's assets under management (AUM) crossed Rs 1,07,000 crore from retail investors living in places beyond the top 15 cities as on October 31.
It was a 33 per cent growth over 18-month. As on March 31, 2013 the AUM was Rs 65,000 crore, according the Association of Mutual Funds in India. The AUM relate to equities, equity-linked saving schemes (ELSS) and the balanced funds which essentially involves retail participation, the industry body said. "We have crossed the Rs 1 lakh crore mark in AUM from beyond 15 cities during past 18 months after we started the journey to reach retail equity investors living in 400 centres located in Tier-II and Tier-III cities, beyond the top 15 cities of the country," AMFI chief executive H N Sinor told PTI here. &qu…

NIFTY OUTLOOK FOR 17 & REVIEW

FORENOON BETTER
Nifty                               8390  +32 Nifty traded with positive bias through out the day and closed at the highest level for the week and week closed with a gain of about 0.60%. Nifty has been moving in a narrow range of 8300 and 8420 for the last Eight  trading sessions and a clear breakout / breakdown appears imminent in a day or Two.    If it breaks out on the upper side(closing above 8400), Nifty could go upto 8500 / 8550.  Short term trend continues to remain positive  and stoploss  may be  continued at  8300 (on close basis).  Nifty spot is expected to encounter resistance at 8430,, 8465 and find support at 8350, 8315 for Monday.   While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be generally better in the forenoon session.
MARKET CLOSE ON RECORD HIGHS Stock market indices today scaled record highs on sharp fall in wholesale inflation, persistent foreign ca…

KASHMIR SAPPHIRE SOLD @ RECORD PRICE

A rare step-cut Kashmir sapphire in rich velvety blue has sold for a world record at a Sotheby's auction in Geneva, where it fetched USD 6 million. "A rare 27.54 carat step-cut Kashmir sapphire which exhibited a rich, saturated velvety blue colour achieved USD 5,984,474, a world auction record for a Kashmir sapphire," Sotheby's said in a statement. The gem was purchased by a buyer from Asia, auctioneers said. Previous record was set by a Kashmir sapphire weighing 28.18 carats when it sold for USD 5,093,000 at Sotheby's New York in April 2014. Kashmir sapphires sport a rich lustrous blue colour often compared to that of a cornflower. In the 1880s a landslide in Kashmir, caused the legendary sapphires to be discovered. With a limited production, Kashmir sapphires make up a tiny percentage of the world's total sapphire supply. The American Gemological Laboratories labels this stone a "Classic Kashmir," denoting that it not only exhibits the classic gem…

NOW...SAY THANKS TO FRIENDS THROUGH FB

Facebook today launched a new initiative 'Say Thanks' that will allow users to create personalised video cards for their friends on the world's largest social network. US-based Facebook has over 1.3 billion users globally and more than 100 million users in India. "Millions of people use Facebook every day to connect with people and things that matter to them most. Your friends are at the core of your Facebook experience, and we are always looking for new ways to help you celebrate those friendships," Facebook said in a blogpost. Users can create as many personalised videos as they like for their friends, relatives and co-workers present on Facebook. The initiative will be rolled out today globally on both desktop and mobile in English, French, German, Indonesian, Italian, Portuguese, Spanish and Turkish languages. To create a 'Say Thanks' video, users will have to choose a friend and a video will be created and ready to share. Users can select one of the …

NIFTY OUTLOOK FOR 14 & REVIEW

MID SESSION BETTER...
Nifty                               8358  -25
Nifty traded in zigzag manner with negative bias and closed with a loss of about 0.30%. After the positive IIP and WPI figures, market appears to have got into profit booking. Nifty has been moving in a narrow range of 8300 and 8420 for the last Seven trading sessions and a clear breakout / breakdown appears imminent in a day or Two.    If it breaks out on the upper side(closing above 8400), Nifty could go upto 8500 / 8550.  Short term trend continues to remain positive  and stoploss  may be  continued at  8300 (on close basis).  Nifty spot is expected to encounter resistance at 8400,, 8435 and find support at 8320, 8285 for Friday.   While Global cues  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 midsession. SENSEX SLIPS FROM RECORD HIGHS
Snapping its three-day rally, the benchmark BSE Sensex today retreated from record …

CHILD PRODIGY CEO TO GIVE LECTURE ON CYBER SECURITY

An eight-year old Indian-origin child prodigy is among experts who will address a cyber security conference starting tomorrow in New Delhi, where Minister of State for External Affairs V K Singh is also listed as a keynote speaker.
In his address at the summit on November 14, the US-based whizkid Reuben Paul will highlight and demonstrate the need for developing the current generation with cyber security skills, according to the organisers of Ground Zero Summit to be held here.
The organisers said, "8 year old Reuben Paul gives keynote at Houston Security Conference."
"I started learning about computer languages around one- and-a-half years back. Now I design my own projects," Reuben told media.
The prodigy has been trained by his father, Mano Paul, in Object C programming language and is now learning Swift programming for Apple's iOS platform. Mano Paul, born and brought up in Odisha, moved to the US in 2000.
Reuben in August started Prudent Games, his own gaming f…

WOMEN MAIN DRIVERS OF INTERNET

More women are now going online than men and their user-base has grown about 30 per cent this year across metros and tier I cities, an IAMAI-IMRB report said today. According to the report, 'Internet in India', female Internet users have grown at about 30 per cent to an estimated 20.77 million this year from 16 million in 2013. On the other hand, the male user-base in urban India grew at 25 per cent. The survey was conducted across 35 cities with more than one million population in India. "This is a happy trend and we believe if it continues, the currently skewed ratio between men and women stands a chance of being rectified in the near future," the report said. India was estimated to have 243 million Internet users at the end of June 2014.
The fastest growth was seen in the college going students category at 62 per cent to 7.29 million this year from 4.51 million in 2013. The number of school girls in urban India logging online increased 34 per cent to 2.88 million f…

SENSEX SETTLES ABOVE 28000

The benchmark BSE Sensex for the first time settled above the 28,000 level and NSE Nifty crossed 8,400 level on buying in auto, banking and FMCG stocks as falling crude prices boosted market sentiment.
The 30-share Sensex touched life-time high of 28,126.48 points before concluding at record closing level 28,008.90, posting gains of 98.84 points or 0.35 per cent.
The BSE barometer had breached the 27,000 level on September 2 this year.
The 50-share Nifty also crossed 8,400 level to scale life-time high of 8,415.05 points. It closed at record high of 8,383.30, up by 20.65 points, or 0.25 per cent.
"Markets are trading near their all-time high levels. Further fall in crude prices and expectations of further reforms kept sentiments positive," said Dipen Shah, Head- Private Client Group Research, Kotak Securities.
Foreign portfolio investors (FPIs) bought shares worth Rs 458.04 crore yesterday, according to provisional data from stock exchanges.
"Markets are expecting the CPI (co…