Sensex Soars 257 Points As Inflation Eases To 5-Month Low At 6.16%

Wednesday, Jan 15, 2014
LEAD STORIES
HEADLINE INFLATION EASES TO 5-MONTH LOW AT 6.16% 
Aided by lower vegetable prices, food articles inflation fell by 6.4% (MoM), non-food articles & minerals grp declined by 0.4% & 3.1% respectively. read more
INFLATION NOS CHEERS MKTS, SENSEX SURGES 257 PTS 
Fall in inflation by 136 bps in December raised hopes that RBI may not touch policy rates on Jan 28. Nifty rallied 79.05 pts to 6320.90. read more
TOP STORIES
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AT A GLANCE
BSE 21289.49 +256.61
NSE 6320.9 +79.05
TURNOVER
Rs. 199,289 cr
BSE CASH
Rs. 1,693 cr
NSE CASH
Rs. 11,271 cr
NSE F&O
Rs. 155,709 cr
BULLION
GOLD 28915 -181
SILVER 44492 -449
CRUDE
NYMEX 93.05 +0.46
BRENT 106.14 -0.25
FOREX
$ / Re 61.54 +0.02
£ / Re 100.55 -0.51
€ / Re 83.688 -0.41
EVENTS
16 January
Q3 Results: TCS, Bajaj Auto, HCL Tech
Bombay HC To Hear NSEL Settlement Case
17 January
Q3 Results: HDFC Bank, ITC, RIL, Wipro
Congress To Convene AICC Meet In Delhi
SEBI Vs Sahara Case
23 January
2G Spectrum Auction To Start
27-29 January
CII Partnership Summit 2014, Taj West End, Bangalore
"The national election due by May will mainly be a contest between AAP and the main opposition Bharatiya Janata Party. The ruling Congress is not even in the picture."

Arvind Kejriwal
CM, Delhi
"They (AAP) are Jurassic. They smell of anarchy. They just demean everything that has been time-tested. They ridicule anything. They question and demean anything... AAP is a real threat to our system. They are anarchist. They want to destroy the system. They are anarchist either by choice or by ignorance."

Salman Khurshid
External Affairs Minister
"The easing of inflation at a time when industrial growth continues to be in the red should induce RBI to review its monetary policy stance and cut its policy rates to rejuvenate growth, which has been hit by high interest costs, flagging investments and subdued demand."

Chandrajit Banerjee
Director General, CII

Tech Mahindra, ISRO, LS Elections dominate news today


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Sun, Jan 05, 2014 | 05:21 PM IST

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5 Jan | 05:21PM
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Company Name Live Price Change (%) Volume High Low
Financial Technologies (India) Ltd. 223.05 19.98 2395119 223.05 184.25
Usher Agro Ltd. 45.45 19.92 240403 45.45 37.20
Multi Commodity Exchange of India Ltd. 572.65 17.29 2936626 581.20 485.00



TCS Q2 Beats Street, Net Up 24% | Sensex Falls 59 Pts

Tuesday, Oct 15, 2013
TCS Q2 BEATS STREET; NET UP 24% TO RS 4,702 CR (QoQ)

LEAD STORIES
TCS Q2 BEATS STREET; NET UP 24% TO RS 4,702 CR (QoQ)
TCS Q4 revenues jumped 16.6% QoQ (up 34.3% YoY) to Rs 20,977 crore, driven by highest volume growth in last nine quarters. read more
COAL SCAM: CBI FILES FRESH FIR AGAINST KM BIRLA
The 14th FIR in the coal block allocation scam has named Kumar Mangalam Birla as an accused, along with former coal secretary P C Parekh. read more
SENSEX FALLS 59 PTS AFTER HITTING NEARLY 3-YEAR HIGH
Sensex ends at 20547.62, Nifty at 6089.05 as banks like ICICI, HDFC Bk, SBI fell over 2% on rate hike concerns. BSE Bankex fell 2.59% as well. read more
END OF BANKING SECRECY IN SWISS BANKS 
Switzerland will break the seal on its banking secrecy by signing an international agreement on fighting tax evasion today, the OECD said. read more
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AT A GLANCE
BSE 20547.62 -59.92
NSE 6089.05 -23.65
TURNOVER
Rs. 166,544 cr
BSE CASH
Rs. 1,817 cr
NSE CASH
Rs. 10,884 cr
NSE F&O
Rs. 143,773 cr
BULLION
GOLD 28770 -17
SILVER 47143 -231
CRUDE
NYMEX 101.94 -0.47
BRENT 110.37 -0.67
FOREX
$ / Re 61.835 +0.29
£ / Re 98.621 +0.25
€ / Re 83.422 -0.05
EVENTS TO WATCH
16 October
Bajaj Auto Q2 Results
17 October
Deadline For U.S. Debt Ceiling
HCL Tech Q2 Result
18 October
FIPB Likely To Consider Tata-Sia Airline Proposal
L&T Q2 Result
22 October
Wipro Q2 Result
Yes Bank Q2 Result
23 Oct
PM To Visit China To Discuss Border Agreement & Economic Relations
RT VIEWS
"I do believe that the (telecom) market is too crowded. We want, of course, a consolidation of the market and I think with the 100 percent FDI that consolidation will take place. You will see a lot of players who cannot compete with others actually drop out and therefore the market will consolidate."

Kapil Sibal
Telecommunications Minister
"Implying Kumar Mangalam Birla, managed to overturn decision of Screening Committee, is preposterous. Talabira II, III mines together have been jointly allotted to Mahanadi Coal Fields, Neyveli Lignite; Hindalco has only a 15% stake in the JV. Clearances to permit mining have not been received so far; no mining has been carried out."

Hindalco
Spokesperson
"We love print, we would love to keep print going as long as possible. I don't think it's a matter of predicting something, it's not up to us. The marketplace will decide and we will respond. As long as there are enough readers who want to buy a print newspaper-and frankly advertisers who want to advertise in it-we will publish print newspapers."

Richard Stevenson
Europe Editor, International Herald Tribune
India Business Update

Trade deficit data, Infy Q2 surprise positively



Infy Q2 surprise positively
The week that was
Trade data, Infosys, FIIs lift Sensex, Nifty 3% in week
Lower-than-expected trade deficit for September, and better-than-expected secod quarter earnings from Infosys laid the base for a 3 percent rise in equity benchmarks during the week. The Sensex advanced 612.64 points to close at 20528.59 and the Nifty jumped 188.90 points to close a tad below 6100.
Read more >
Growth to be focus, not margins: Infosys CEO Shibulal
Infosys CEO and Managing Director S D Shibulal said margins would not be the first priority of the company at least for the next couple of quarters. It will now focus on investing in the business to take it to the next orbit of growth.

August IIP comes in at paltry 0.6% Vs 2.8% in July
Industrial output for August grew by a lower-than-expected 0.6 percent versus 2.8 percent in July. PMEAC chairman C Rangarajan said the data is certainly disappointing. However, he expects the number to improve the year progresses.

RBI eases liquidity, cuts MSF rate by 50 bps to 9%
The Reserve Bank of India (RBI) surprised the street by further reducing the marginal standing facility (MSF) rate by 50 bps to 9 percent from 9.5 percent with immediate effect. In its mid-quarter review of September 2013, the apex bank had cut MSF by 75 basis points from 10.25 percent to 9.5 percent.

Cabinet decision on Coal India FPO likely by Dec: Jaiswal
Coal India (CIL) divestment is likely to be finalised in the next one-two months and the government is hopeful of selling 5 percent in the world’s largest coal producer, Coal Minister Shri Prakash Jaiswal said. Government currently holds 90 percent stake in CIL and intends to sell 31.6 lakh shares through a follow-on public offering.

Bharti-Walmart split, to independently operate retail biz
Walmart, the world's largest retailer has decided to terminate its joint venture with Bharti retail after almost six years. Sources say there was a growing discomfort within Walmart to face the consequences for any possible violations in parts of the business that it didn't control.

India suffers steep growth downgrade by IMF
The International Monetary Fund (IMF) downgraded India's growth forecast for both 2013 and 2014. The economy is now projected to grow by 3.8 percent this year and 5.1 percent next. IMF sliced its growth expectations for emerging countries, but maintained its forecast for advanced economies.

Indian business activity falls to 4-year low: HSBC
Indian manufacturing and service sector activity fell for a third successive month in September, posting the steepest decline since March 2009. According to a HSBC report, India's Purchasing Mangers' Index (PMI) was 46.1 in September, down from 47.6 in the previous month.

India's trade deficit dips to $6.76bn in Sept
India's trade deficit for September fell to USD 6.76 billion from USD 17.15 billion a year ago. Exports grew 11.15 percent in September and imports declined 18.1 percent. With this improvement, PMEAC chairman Dr C Rangarajan sees FY14 CAD even lower than projected USD 70 billion.

New govt to inherit worse eco situations than 1991 & 1998: Yashwant Sinha
Projects worth Rs 15 lakh crore are held up due to delayed decision making, says former FM and senior BJP leader Yashwant Sinha. BJP is likely to release its manifesto for 2014 elections soon. If voted to power, its first priority would be to end policy paralysis, he said.

Sebi rejigs MCX-SX board; Shah, Massey step down
In the latest development in the NSEL saga, Jignesh Shah, Vice-Chairman and Shareholder Director, and Joseph Massey, managing director and CEO,MCX-SX, resigned from board of MCX-SX. Market regulator Sebi had earlier warned MCX-SX that its conditional recognition could be revoked if any of its directors were to get an adverse finding from any regulator.

Healthcare
The cruel economics of cancer care