Mining, Cap Goods Drag Down IIP Growth To 1.8% In Dec | India, EU To Push For Early Trade Pact; Sensex Snaps Two-day Rally, Down 82 Pts

Friday, Feb 10, 2012



LEAD STORIES
MINING, CAP GOODS DRAG DOWN IIP GROWTH TO 1.8% IN DEC  
December industrial output slowed down to 1.8% vs 5.9% in November 2011 due to contraction in mining and capital goods sector. read more
INDIA, EU TO PUSH FOR EARLY TRADE PACT  
European Union and Indian leaders have made "substantial progress" towards a free trade agreement, says European Council President Herman Van Rompuy. read more
HIGH RATE OF DENIAL OF H-1B, L-1 VISAS TO INDIANS  
U.S. immigration authorities have increased denial of work-related visas, with India-born professionals being refused at higher rates than others. read more
SENSEX SNAPS TWO-DAY RALLY, DOWN 82 PTS  
Markets fell after dismal industrial production hit the investor sentiment. Sensex closed 17,748.69 while Nifty ended 5,381.60 down 30.75 points. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 17748.69 -82.06
NSE 5381.6 -30.75
TURNOVER
Rs. 155,296 cr
BSE CASH
Rs. 3,528 cr
NSE CASH
Rs. 14,835 cr
NSE F&O
Rs. 136,933 cr
BULLION
GOLD 28144 -213
SILVER 56720 -457
CRUDE
NYMEX 97.86 -1.98
BRENT 116.61 -1.98
FOREX
$ / Re 49.42 -0.08
£ / Re 78.01 -0.17
€ / Re 65.229 -0.44
EVENTS TO WATCH

11 February
National Conference On Corporate Growth, Governance & Inclusion, PHD Chamber, New Delhi


14 February
EGoM Headed By Finance Minister To Meet On Natural Gas Allocation Policy


14-16 February
India Leadership Forum, 2012 Organized By NASSCOM, Mumbai


16 February
TDSAT To Hear 3G Roaming Controversy, New Delhi
GoM To Examine New Urea Investment Policy, New Delhi


EXPERT VIEWS

(On India EU FTA)"There are obviously some problems but we are confident that those problems can be resolved and will be resolved. Both of us have reaffirmed our commitment to an agreement as early as possible of the broadbased trade and agreement."

Dr Manmohan Singh
Prime Minister
"Where I see room for improvement on the part of the IMF is in having a broader understanding of specific situations where strict adherence to a model might prevent the pragmatic solution of the problem. If there is a minimum of compliance with the requirements set out, this is the moment to turn the page and extinguish this potential big explosion..."

Mario Monti
Prime Minister, Italy
"The dramatic increase in denial rates and Requests for Evidence for employment petitions without any change in the law or regulations raises questions about the training, supervision and procedures of the career bureaucracy that adjudicates petitions and the U.S. government's commitment to maintaining a stable business climate for companies competing in the global economy."

Report
National Foundation For American Policy

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Greek Political Leaders Agree On Bailout Reforms | Sensex Up 123 Pts

Thursday, Feb 09, 2012



GREEK LEADERS AGREE ON BAILOUT REFORMS  
Greek political leaders have clinched a deal on austerity measures needed to secure a bailout to keep the country afloat, two government sources said on Thursday. read more  
LEAD STORIES
EXPORTS UP 10%, IMPORTS GROW BY 20% IN JAN  
January exports rose 10.1% to $25.4 bn while imports rose 20.3% to $40.1 bn, leaving a trade deficit of $14.7 bn. read more
SENSEX UP 123 PTS IN LATE BUYING AMID FIRM EUROPEAN MKTS  
Markets bounced back on positive cues from European peers boosted sentiments. Sensex closed at 17,830.75.Nifty was up 44.20 at 5,412.35 points. read more
DTC: HOUSE PANEL SUGGESTS CHANGES IN TAX SLABS & RATES  
The Standing Committee on Finance headed by Yashwant Sinha is expected to meet on Friday to consider & adopt its recommendations on the proposed DTC. read more
TATA STEEL POSTS Q3 NET LOSS OF RS 603 CR  
Tata Steel posted its first quarterly net loss of Rs 603 cr in more than two years, hit by higher raw material costs and weak prices in Europe. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 17830.75 +123.43
NSE 5412.35 +44.2
TURNOVER
Rs. 131,646 cr
BSE CASH
Rs. 3,298 cr
NSE CASH
Rs. 15,772 cr
NSE F&O
Rs. 112,576 cr
BULLION
GOLD 28481 +305
SILVER 57510 +689
CRUDE
NYMEX 99.66 +0.95
BRENT 118.16 +0.96
FOREX
$ / Re 49.5 +0.35
£ / Re 78.271 +0.67
€ / Re 65.588 +0.54
EVENTS TO WATCH

10 February
SC To Hear Army Chief Age Row Case, New Delhi
11th India-EU Summit, New Delhi
Panel Discussion On The Book 'A Critical Decade' â€" Policies For India's Development' Organized By Oxford University Press In Collaboration With Indian Economic Service, New Delhi


11 February
National Conference On Corporate Growth, Governance And Inclusion By PHD Chamber, New Delhi


14 February
EGoM Headed By Finance Minister To Meet On Natural Gas Allocation Policy


EXPERT VIEWS

(On Trade deficit hitting $14.7 bn) "I think for 2012-13, as I said it last month, I say it again, it is going to be difficult as 2011-12 was difficult. I think 2012-13 is going to be harder, as always, I think if we manage to get to even 20% growth this year, it will be pretty good..."

Rahul Khullar
Commerce Secretary
"Inflation is likely to stay above 2% for several months to come before declining to below 2%. The economic outlook remains subject to high uncertainty and downside risk... The idea that the ECB could actually give money to the program would violate the provision of monetary financing..."

Mario Draghi
President, European Central Bank
"The Home Minister has pledged (I will be) the first former president to spend all my life in jail."

Mohamed Nasheed
Former President, Maldives

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Nifty hits 6-month high; banks, metals, auto, realty gain


Dated:09 February,2012

The 50-share NSE index ended up 0.82% at 5,412.35. In the broader market, gainers led losers by about 2.1:1 on volume of around 986.2 mn shares.

Regulatory changes helped stabilise sentiment in the currency because the risk was at least towards in the last year, says Paul Mackel, HSBC.

Global liquidity is flowing towards EMs and this trend will continue for next 12 months, says Raamdeo Agrawal, Joint MD, Motilal Oswal.

Market Round-up
SENSEX 17830.75 123.43
NIFTY 5412.35 44.20
NASDAQ 2141.54 17.78
DJIA 10060.06 19.61
RS/$ 46.79 -0.14

NSE Gainers
Scrip Price(Rs.) %Change
Golden Tobacco Ltd. 41.85 + 19.91
Vaibhav Gems Ltd. 43.70 + 19.89
Wanbury Ltd. 32.55 + 19.89
Brooks Laboratories Ltd. 17.90 + 19.73
Zenith Birla (India) Ltd. 5.55 + 19.35

NSE Losers
Scrip Price(Rs.) %Change
Uniply Industries Ltd 8.95 -9.60
Venky's (India) Ltd. 431.25 -8.89
Entegra Ltd. 11.80 -8.53
Sakuma Exports Ltd. 13.65 -8.39
Page Industries Ltd. 2,670.05 -7.53

Views on Stocks/Markets

IPO/Global Markets

Rupee / Gold

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PM Seeks Attorney General`s Advice On SC`s Licence Cancellation Order; FY12 Car Sales Head For First Fall In 10 Yrs; Sensex Up 84 Pts;Airtel, Vodafone & Idea To Be Charged For Extra Spectrum

Wednesday, Feb 08, 2012


PM SEEKS ATTORNEY GENERAL'S ADVICE ON 2G ORDER  
Prime Minister Manmohan Singh has reportedly asked for advice from Attorney General of India Goolam E Vahanvati on the Supreme Court's order cancelling 122 licences allotted by the Telecommunications Ministry during the tenure of former minister A Raja after January 10, 2008. Sources told CNN-IBN that the Prime Minister wants to know whether a review petition is required to be filed in the case. read more  
CAR SALES HEAD FOR FIRST ANNUAL FALL IN 10 YEARS  
Car sales for FY12 are likely to drop for the first time since 2002 after January sales at 7.2% fell short of expectations, a SIAM report said. Car sales, which grew 30% in March 2011, posted their first monthly fall in 3 years last July as high financing and running costs deterred buyers. Passenger car sales in the domestic market rose around 7% to 1.96 lk units vs 1.82 lk units in the same month last year. read more  
LEAD STORIES
SENSEX UP 84 PTS; BROADER MARKETS OUTPEFORM  
The market was volatile ahead of the outcome on Greece's debt deal. Nifty was up 33 points at 5,368 while Sensex shut shop at 17,707 points. read more
BHARTI Q3 CONS NET FALLS 22% ON HIGH INTEREST COSTS  
Bharti Airtel Q3 consolidated net profit fell to Rs 1,011 cr due to higher interest outgo and costs related to the roll-out of 3G network. read more
3 TELCOS TO BE CHARGED FOR EXTRA SPECTRUM  
CNN-IBN has access of a draft Cabinet note that recommends old players like Airtel, Vodafone & Idea be charged for excess spectrum that they hold. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 17707.32 +84.87
NSE 5368.15 +33
TURNOVER
Rs. 142,075 cr
BSE CASH
Rs. 3,412 cr
NSE CASH
Rs. 16,561 cr
NSE F&O
Rs. 122,102 cr
BULLION
GOLD 28331 -42
SILVER 57421 +156
CRUDE
NYMEX 99.94 +1.53
BRENT 116.4 +0.17
FOREX
$ / Re 49.15 -0.05
£ / Re 77.955 -0.11
€ / Re 65.078 -0.04
EVENTS TO WATCH

10 February
SC To Hear Army Chief Age Row Case, New Delhi
4th Edition Of Morningstar Awards, Mumbai.


14 February
EGoM Headed By Finance Minister To Meet On Natural Gas Allocation Policy


16 February
TDSAT To Hear 3G Roaming Controversy, New Delhi
GoM To Examine New Urea Investment Policy, New Delhi


17-19 February
"Stationary World 2012" Organized By Federation Of Maharashtra Stationery Manufacturers And Traders Association, Mumbai


EXPERT VIEWS

(Over 122 licence cancellation) "We have done our duty as a judge. It was not difficult at all. May be it has a very wide ramification but that is not something which should concern a judge. We did not take into consideration tht foreign investment will be affected... A judge never takes oath to protect foreign investment..."

Justice AK Ganguly
Supreme Court
(On Rajaratnam Insider Trading Case) "I personally found it a difficult court case because it had to be dealt with both on an individual level and, obviously, the case had implications for the financial markets and the social fabric in general. You couldn't really overlook where it was and it was always a constant struggle to strike the right balance on how one approached the case. In that sense, it was personally challenging."

Richard Holwell
Federal Judge, U.S.
"We should decide now on what should be the price of natural gas. What should be the principles, which should be applied. On the one hand, we (advocate) freedom to price gas on an arm's length basis. But on the other hand we also say that (companies) must allocate gas according to the government's priorities..."

Montek Singh Ahluwalia
Dy Chairman, Planning Commission

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