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Chit fund scam: Calcutta High Court to hear plea seeking CBI probe – NDTV

admin — Tue, 14 May 2013 04:23:58 +0000

NDTV Chit fund scam: Calcutta High Court to hear plea seeking CBI probe NDTV Kolkata: The Calcutta High Court will today hear a Public Interest Litigation or PIL demanding a Central Bureau of Investigation (CBI) probe into the Saradha chit fund scam that has wiped out the savings of lakhs of small investors in West Bengal. The Mamata … HC hands probe into custody death to CBI Indian Express CBI to probe Trinamool worker's custody death Times of India With CBI in, Congress hopes for justice in Bengal custody death Business Standard IBNLive

Tags: cbi, congress, custody-death, india, into-custody, top stories, trinamool, uncategorized

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Double whammy for Mamata Banerjee government in court – IBNLive

admin — Tue, 14 May 2013 00:02:32 +0000

IBNLive Double whammy for Mamata Banerjee government in court IBNLive Kolkata: Delivering a double blow to West Bengal's Mamata Banerjee government, the Calcutta High Court on Monday ordered CBI probe into a Trinamool Congress worker's death allegedly in police custody and refused to suspend its earlier verdict … HC hands probe into custody death to CBI Indian Express CBI to probe Trinamool worker's custody death Times of India Calcutta High Court orders CBI probe into alleged custodial death of Trinamool … NDTV Business Standard

Tags: calcutta-high, custody-death, death-allegedly, earlier-verdict, indian-express, into-custody, news-articles, probe-into, table-border, uncategorized

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Double whammy for Mamata Banerjee government in court – IBNLive

admin — Tue, 14 May 2013 00:02:32 +0000

Tags: and-refused, calcutta-high, custody-death, delivering, hands-probe, news-articles, police-custody, press-trust

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Double whammy for Mamata Banerjee government in court – IBNLive

admin — Tue, 14 May 2013 00:02:32 +0000

Tags: calcutta, calcutta-high, delivering, india, indian-express, mamata, news-articles, press-trust, probe-into, uncategorized

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FB can make ‘moving on’ difficult after breakup

admin — Fri, 10 May 2013 11:56:06 +0000

NEW YORK: Even though photos of your ex on Facebook can be deleted with just a click, the proliferation of social networking sites has made forgetting after a break-up a bigger chore, a new study has found. “People are keeping huge collections of digital possessions,” said Steve Whittaker , a psychology professor at UC Santa Cruz who specialises in human-computer interaction. “There has been little exploration of the negative role of digital possessions when people want to forget aspects of their lives,” said Whittaker. Whittaker and co-author Corina Sas , of Lancaster University , examined the challenges of digital possessions and their disposal after a romantic breakup. Digital possessions include photos, messages, music, and video stored across multiple devices such as computers, tablets, phones, and cameras, researchers said. Their pervasiveness “creates problems during a breakup, as people ‘inhabit’ their digital space where photos and music constantly remind them about their prior relationship.” In interviews with 24 young people between the ages of 19 and 34, Whittaker and Sas found that digital possessions after a breakup are often evocative and upsetting, leading to distinct disposal strategies. Twelve of the subjects were deleters, eight were keepers, and four others were selective disposers. Some of the heartbroken may want to forget but are “extremely resistant to actual deletion,” Whittaker and Sas found, most often the “dumpees.” Others later regret disposing of everything. Disposal is made more difficult today because “digital possessions are in vast collections spread across multiple devices, applications, web-services, and platforms,” they said. “When the relationship is good, this promotes a rich digital life. But when it sours … people have to systematically cull collections across multiple digital spaces,” researchers said. Facebook photos can be untagged but not deleted if posted by someone else. “It’s time consuming and emotionally taxing because people tend to re-engage with possessions, especially photos,” they note. Some of the initial tactics encountered were: changing one’s relationship status to “single,” immediately unfriending or blocking ex-partner’s access to ones’ profile. The study appears in the conference proceedings.

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FB can make ‘moving on’ difficult after breakup

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Assam needs more foreigners’ tribunals, Gogoi tells PM – Vancouver Desi

admin — Wed, 08 May 2013 15:28:37 +0000

Assam needs more foreigners' tribunals, Gogoi tells PM Vancouver Desi Guwahati, May 8 (IANS) Assam Chief Minister Tarun Gogoi has requested Prime Minister Manmohan Singh to increase the number of foreigners' tribunals in the state from the existing 36 to 100. Gogoi met the prime minister at the latter's residence in New … and more

Tags: and-more, assam-chief, increase-the, manmohan-singh, minister-at-the, needs-more, prime, table-border, the-latter-, top stories, uncategorized, vancouver-desi

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Falling gold prices will lower CAD by 5% of GDP: CLSA

admin — Tue, 23 Apr 2013 03:39:34 +0000

Here are experts equity calls for the day on how the markets are expected to trade: Neelkanth Mishra, Credit Suisse : The worrying expansion in India’s CAD has been part of a global trend of demand switching to EMs. This does not make it less harmful, but does make it more sustainable. We are not as enthused by lower oil and gold prices as some. Market belief that this means a risk-on rally is premature, as the cause of these cuts is slowing growth. We prefer stocks with high interest cost but some EBIT stability like United Spirits or JP Associates or low P/E but defensive stocks like NTPC, Coal India & HCL Tech. Mahesh Nandurkar, CLSA : Falling gold prices will lower India’s current account deficit by 5 percent of GDP. Secondly, rising gold prices had driven the share of savings in gold in total household savings to double to 13 percent over the last 5 years and a potential trend reversal would imply greater savings in property and financial products .Thirdly, the negative impact on consumption should not be ignored. Obvious losers would be Titan, gold NBFCs and some small south India based banks.

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Falling gold prices will lower CAD by 5% of GDP: CLSA

Tags: a-based-banks-, a-global-trend, a-risk-on-rally, but-defensive, credit-suisse, div-readability, india, markets, negative, potential-trend, prefer-stocks, slowing-growth, stability-like, total-household, united-spirits

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SC defers order in Italian marines case – Press Trust of India

admin — Mon, 22 Apr 2013 13:23:04 +0000

NDTV SC defers order in Italian marines case Press Trust of India New Delhi, Apr 22 (PTI) The Supreme Court today deferred the pronouncement of its order on the question of National Investigating Agency's (NIA) jurisdiction to probe the case against two Italian marines who allegedly killed Indian fishermen off the Kerala … Hearing postponed for Italian marines in India Gazzetta del Sud english SC defers ruling on Italian marines Vancouver Desi How Italy had a change of heart Deccan Chronicle all 7 news articles

Tags: defers-ruling, italian, kerala, postponed-for, probe-the-case, question, the-question, today-deferred, top stories, vancouver-desi

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SC stays own order on the working of – Vancouver Desi

admin — Tue, 16 Apr 2013 16:59:18 +0000

SC stays own order on the working of Vancouver Desi New Delhi, April 16 (IANS) The Supreme Court Tuesday stayed a part of its judgment which had said that the information commissions would comprise benches of two members with one of the two being a judicial member and the other being an expert … and more

Tags: a-judicial-member, and-more, its-judgment, order-on-the, stays-own, supreme, the-working, top stories, tuesday, uncategorized, vancouver-desi, which-had, working

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Buy Indian Rupee April Fut on decline: ICICIdirect.com

admin — Mon, 15 Apr 2013 04:17:16 +0000

ICICIdirect.com has come out with its report on currency. The research firm expects the US dollar to garner buying support on declines against the INR. One can utilise the lows in the USDINR April contract to buy. Indian stock markets opened in the red amidst downbeat cues from Asian peers. Index major Infosys was the biggest loser, falling by 21percent as its FY2014 sales guidance disappointed investors. Losses were led by IT, realty and auto stocks. The BSE Sensex dropped 299 points or 1.62percent to 18242 while the NSE Nifty fell 65 points or 1.17percent to 5528 levels. The BSE midcap and small cap indices ended down 0.14percent and 0.39percent, respectively. In the currency futures market, the most traded dollar-rupee April contract on the NSE closed at 54.70. The April contract open interest was up 2.9percent from the previous day. The May contract open interest was up 2.40percent from the previous day we expect the US dollar to garner buying support on declines against the INR. Utilise the lows in the USUSDINR April contract to buy. Disclaimer : The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Buy Indian Rupee April Fut on decline: ICICIdirect.com

Tags: 2-9percent-from, against-the-inr, and-0-39percent, div-readability, investment-tips, lows, rating-agencies, ususdinr, while-the-nse

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Manipur encounter deaths show pattern of carelessness, says Supreme Court – The Hindu

admin — Tue, 09 Apr 2013 21:11:59 +0000

Indian Express Manipur encounter deaths show pattern of carelessness, says Supreme Court The Hindu The Centre on Tuesday informed the Supreme Court that the Cabinet Committee on Security (CCS) headed by Prime Minister Manmohan Singh would take a decision on the expert committee report holding that seven persons were killed in Manipur in fake … Report on Manipur 'killings' being considered, SC told Vancouver Desi all 12 news articles

Tags: cabinet, indian-express, informed-the, manmohan, manmohan-singh, news-articles, prime-minister, seven-persons, supreme, the-expert, uncategorized, were-killed

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Below 5689 Nifty may fall to 5634-5594: Angel Broking

admin — Thu, 04 Apr 2013 04:05:00 +0000

A ccording to report by Angel Broking, if Nifty trades below 5689 levels for the first half-an-hour of trade then it may correct up to 5634-5594 levels. The Indian market is expected to open in the red today mirroring the negative opening trades in the SGX nifty and most of the Asian bourses. Major Asian bourses are trading lower on back of downbeat U.S. economic data, even as investors speculate that the Bank of Japan would not meet forecasts for monetary policy expansion. The US markets moved sharply lower yesterday, more than offsetting the gains posted in the previous session. The sell-off on Wall Street was partly due to the release of a report from payroll processor Automatic Data Processing, Inc (ADP) showing that private sector employment in the US rose by much less than expected in the month of March. Moreover, ISM said its non-manufacturing index dipped to 54.4 in March from 56.0 in February which dragged the markets further down. European markets closed lower ahead of key interest rate decisions in the region later in the week, while Cyprus got a new finance minister. Meanwhile, Indian markets fell sharply on Wednesday as investors took some profits off the table following four days of gains. Downbeat service sector data which slumped to a 17-month low in March due to a significant decline in new business flows along with caution ahead of central bank meetings in Japan and Europe this week led to the weakness in the market. Markets Today- The trend deciding level for the day is 18,853/5,689 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,984-19,166/ 5,729-5,784 levels. However, if Nifty trades below 18,853/5,689 levels for the first half-an-hour of trade then it may correct up to 18,671-18,539/5,634-5,594 levels. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Below 5689 Nifty may fall to 5634-5594: Angel Broking

Tags: a-further-rally, a-new-finance, a-which-slumped, angel-broking, asian, automatic-data, cyprus, first, indian, markets-today-, profits-off-the, street, then-it-may, week

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Limit use of beacons and sirens: SC – Calcutta Telegraph

admin — Wed, 03 Apr 2013 22:21:59 +0000

Times of India Limit use of beacons and sirens: SC Calcutta Telegraph New Delhi, April 3: The Supreme Court today asked the Centre and states to consider restricting beacons and sirens to the vehicles of top constitutional officials, ambulances, fire services, police and the military. “We want the red lights and sirens restricted… Why should so many VIPs flash red light, asks SC The Hindu SC asks government to cut down on use of beacons on cars Times of India SC to decide on who can use red beacons Deccan Herald Indian Express

Tags: asks-government, down-on-use, fire-services, indian-express, military, news-articles, red-lights, supreme-court, table-border, the-military, today-asked, uncategorized, vancouver-desi, want-the-red

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admin — Sat, 16 Mar 2013 08:46:33 +0000

M Narendra, CMD of Indian Overseas Bank spoke to CNBC-TV18, on slidelines of CFO awards , regarding his outlook for the financial year 2013-14. Narendra says, the bank in the past two years has grown more than 800 branches, particularly 70 percent in the rural and semi-urban. “The business in the last two years has also improved from Rs 1,90,000 crore to Rs 3,50,000 crore. The increase proves that there is an opportunity for growth,” he adds. However, Narendra feels there have been difficult periods as well, specially in some particular sectors. “From the current Budget proposals, certain initiatives have been taken by the central government and also a few private initiatives. The year 2013-14 will be better year than 2011-12,” says Narendra.

Tags: a-feels-there, and-semi-urban-, government-and, improved-from, narendra, periods-as-well, regarding-his, the-financial

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Expect FY14 to be better than FY13: IOB CMD

admin — Sat, 16 Mar 2013 08:46:33 +0000

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Expect FY14 to be better than FY13: IOB CMD

Tags: 800-branches, current, div-readability, financial, government-and, indian-overseas, outlook, periods-as-well, regarding-his, some-particular, the-financial, year-2013-14-

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Expect FY14 to be better than FY13: IOB CMD

admin — Sat, 16 Mar 2013 08:46:33 +0000

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Expect FY14 to be better than FY13: IOB CMD

Tags: a-few-private, and-semi-urban-, current, div-readability, financial, improved-from, indian-overseas, narendra, outlook, periods-as-well, regarding-his, some-particular, the-financial, year-2013-14-

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Expect FY14 to be better than FY13: IOB CMD

admin — Sat, 16 Mar 2013 08:46:33 +0000

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Expect FY14 to be better than FY13: IOB CMD

Tags: 800-branches, a-feels-there, a-few-private, central, current, div-readability, indian-overseas, outlook, periods-as-well

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Staying optimistic key to surviving tough times: LT CFO

admin — Fri, 15 Mar 2013 17:34:58 +0000

C NBC-TV18 honours India Inc’s top chief financial officers (CFOs) in a gala event in Mumbai. The CFO of Larsen & Tubro , Shankar Raman won the best CFO of the year award. Kevin DSA of Bajaj won the best CFO award for the auto sector. In the banking space NS Kannan of ICICI Bank bagged the top honours. Sridhar Ramamurthy of Hindustan Unilever won the award for best CFO in for the FMCG sector. Also Read: Invest in L&T for long term: Doctor In an exclusive interview to CNBC-TV18, Shankar Raman says, staying optimistic was the only key to survive in this difficult business environment. “We had to keep our options open for any strategies that we were to pursue as a company and always have a plan B because you are not very sure about plan A. The uncertainty taught us couple of things, it taught us how to manage volatility, how to remain certain in an uncertain environment,” he adds. Below is the verbatim transcript of Shankar Raman’s interview on CNBC-TV18 Q: It has been a very difficult year, what has stood by you for the last one year that has helped you overcome all the economic and financial challenges that you had to deal with? A: We had to remain optimistic. The biggest challenge was always to look at the cup as half full because we went through situations where it was difficult to be very decisive about our moves. We had to keep our options open for any strategies that we were to pursue as a company and always have a plan B because you are not very sure about plan A. The uncertainty taught us couple of things, it taught us how to manage volatility, how to remain certain in an uncertain environment. This means we had to pull levers which are within our control and try to reduce the risk element there and hope and pray that something catastrophic does not occur. Q: What is your outlook for this new fiscal that we are about to enter? Do you see the prospects for the Indian economy improve and respond to this question while keeping the Budget in mind given what the Finance Minister do as an attempt to bring fiscal deficit under some control? A: There were a lot of announcements about what needs to be done. The biggest challenge for all of us in the system is going to convert the sentence into actionable points. The solution lies beyond the Budget document and the entire bureaucracy and the policy framework has to get facilitative. Q: After the cumulative effort of the government (which they keep touting), like Sachin Pilot, Corporate Affairs Minister talk about the Cabinet Committee on Investment (CCI), Finance Minister talk about the fiscal deficit, are you seeing a difference on ground in terms of reviving several big projects that were stuck? A: There is a movement forward but whether it is adequate, I am not yet sure. However, I do see some anxiety in the minds of people to push ahead and convert the intent into action. There have been some clearances that have been announced. We have also seen National Highways Authority of India (NHAI) making some conciliatory moves in terms of resolution to stuck projects.

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Staying optimistic key to surviving tough times: LT CFO

Tags: bagged-the-top, best, budget, cabinet, cumulative, india, indian, investment, options, outlook, reduce-the-risk, remain-certain, shankar, shankar-raman

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Staying optimistic key to surviving tough times: LT CFO

admin — Fri, 15 Mar 2013 17:34:58 +0000

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Staying optimistic key to surviving tough times: LT CFO

Tags: a-gala-event, auto, bagged-the-top, budget, cabinet, government, india, shankar

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Staying optimistic key to surviving tough times: LT CFO

admin — Fri, 15 Mar 2013 17:34:58 +0000

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Staying optimistic key to surviving tough times: LT CFO

Tags: auto, banking, budget, cabinet, investment, options, outlook, reduce-the-risk

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Demand limp despite discounts, say auto dealers

admin — Fri, 15 Mar 2013 10:08:58 +0000

E arnings, commentary from management of the auto companies, monthly sales and data from SIAM points to a weak demand environment in the auto world despite a slew of schemes introduced to push sales, says Sundeep Bafna, zonal chairman, Federation of Automobile Dealers Associations (FADA) in an interview on CNBC-TV18. “But do not expect auto-makers to offer further discounts,” he warns. Maruti ‘s petrol models are in greater demand and the slowdown in Hero Motocorp is not a major concern. The demand for diesel-based models has reduced due to the hike in diesel prices, adds Bafna. Below is the edited transcript of the interview on CNBC-TV18 Q: How bad is the situation? What are the inventory levels or the waiting period? A: The worsening fiscal deficit has made business very difficult for the auto sector with an increase in the levels inventory as compared to last year. Though the festival of Gudi Padwa is round the corner, there is an absence of demand in the two-wheeler segment. From Thursday, there has been a slight pick-up in two-wheeler demand for Gudi Padwa deliveries. Q: How many weeks of inventory do you have across various segments? A: We are carrying quite a bit of inventory right now. As compared to the 21-day levels of inventory in the two-wheeler space, dealers are carrying inventory levels of anywhere from six to eight weeks. In the four-wheeler space, inventory levels varying from six to seven weeks. In the commercial vehicle segment, inventory levels range from one-and-a-half months to two months. A few four-wheeler brands have introduced schemes to lure customers such as the Volkswagen (VW) offer of one year of free interest on all its products. Tata Motors has reduced its prices by Rs 60,000-70,000 which is a cut of 10 percent. But despite all these schemes, the pick-up in demand is not significant. Q: Do you expect these discount offers and schemes to continue till demand picks up? A: I do not think so because demand has bottomed out already. Dealers are also starting get affected because if companies offer discounts then they expect the dealers to write-off all margins on the product. So I think the market are nearly bottomed out, there cannot be anything better than what is being offered right now. Q: Is the slowdown affecting all segments and products. Can you indicate where the weakness in demand is high? A: Earlier, there was lot of demand for diesel products. Now we find that after the Budget with diesel prices set to increase, people have stopped or have decided to put on hold plans to purchase products. Petrol models on the other hand, have suddenly witnessed an increase in demand. Q: So the demand for petrol cars is more than you can supply? A: Today, the demand for petrol models from Maruti Suzuki is more than what can be supplied. Another reason for the increase in the demand could be the cut in production of petrol models and focus on diesel models. Even in such a scenario, the waiting period is not more than a week or ten days. Q: Which company seems to be under lesser pressure? A: I think it is Maruti. Dealers are holding about 500-600 units of stock and on an average I sell about 500 vehicles per month. So, I am fine with 25 days-to-a-month of stock. In the two-wheeler segment, there is a bit of a slowdown but there is little to worry from Hero MotoCorp . But the gap in demand and supply is very evident regarding VW, Tata Motors and General Motors with high levels of inventory. Q: Is Honda disrupting the two-wheeler market in any manner? A: Honda leads the two-wheeler space with its scooter-model Activa. Bajaj has no scooter-models on offers and has clearly indicated that it does not want to manufacture scooters. Hero leads the motorcycle market with Bajaj coming in second.

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Demand limp despite discounts, say auto dealers

Tags: a-weak-demand, demand, general-motors, maruti-dealers, motorcycle, nearly-bottomed, stopped-or-have, sundeep-bafna, volkswagen, waiting

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Demand limp despite discounts, say auto dealers

admin — Fri, 15 Mar 2013 10:08:58 +0000

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Demand limp despite discounts, say auto dealers

Tags: a-leads-the, a-slowdown-but, budget, commercial, demand, festival, interest-on-all, interview, the-two-wheeler, volkswagen, waiting

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Q4 earnings to fall; ONGC, Maruti top picks: Motilal Oswal

admin — Fri, 15 Mar 2013 05:26:59 +0000

F ourth-quarter earnings may report a marginal fall in growth and are expected to be very disappointing, says Rajat Rajgarhia, head-research, Motilal Oswal Securities in an interview to CNBC-TV18. The weak earnings have been partially factored in by market which is likely to remain range-bound till earnings recover. Talking about stocks, Rajgarhia said investors in Titan were worried about tough KYC norms. He believes ONGC ‘s growth in earnings could rise by 35-50 percent between FY14- FY15 and two-wheelers are likely to underperform due to high competition. He advised investors to accumulate Maruti on declines. Below is the edited transcript of the analysis on CNBC-TV18 Q: Some of the advance tax data is beginning to trickle in. How do you expect the earnings season to pan out for Q4? A: The initial data from most of the sectors for this quarter indicate that it is going to be really a tough period. I won’t be surprised of the growth in earnings for the quarter turn out to be flat or report some marginal fall in growth because a lot of sectors have seen new lows and growth in credit is not picking up. Q: In that context what do you expect the market to do? Do you expect more adjustment to disappointment in earnings? A: After the December quarter earnings, the markets adjusted to some disappointment with a correction. But investors have actually delayed or postponed their expectations on a recovery in earnings. What was expected to happen in the first half of FY14 now seems to be getting delayed to the second half of FY14. So the markets will just remain stuck in a range and in turn the valuations will keep on correcting . Q: The oil and gas segment has been on a steady run of good news. There is talk again of another fuel price hike come the weekend. What is your outlook on this segment and what seems an interesting buy? A: A fairly detailed report on PSU oil companies that we released revealed that after almost three-to-four years of no or little earnings growth stocks like Oil and Natural Gas Corporation (ONGC) and Oil India will suddenly see an adjustment in their earnings. It is more of an adjustment rather than growth because the PSUs were earning much below than what they should have. ONGC earnings will adjust from a Rs 29-30 earnings per share (EPS) over the next two years to Rs 40-50 depending upon how far the fuel price hike occurs. The trend very clearly indicates a rise in earnings. The adjustment will also occur as expectations of the increase in gas prices have started to get built into the estimates. So, it would be fair to assume that over the next two years ONGC’s earnings could see a readjustment of 35-50 percent from what was reported in FY13 and that is why ONGC and Oil India are two of the best investment ideas in the market at this point of time. Q: The Repco IPO closes today and subscription has been thin so far. Would you recommend investors to buy? A: We have always been very positive on the mortgage financing industry because it offers probably one of the best financing opportunities in this country. Repco operates in a niche segment of its own and after this infusion of capital, it leverage will suddenly drop from 8 times to closer to 4.5 times which will allow the company to increase their books comfortably over the next three-to-four years. The underlying business opportunity is so huge in this segment that even a small participant can continue to grow for many years before worrying about the rate of growth. Q: What do you think of NALCO ‘s offer-for-shares (OFS)? A: The NALCO offer-for-shares, given the price at which it is being offered, will witness some subscription. For us, Hindalco still remains the best bet within the options available today. Q: What is your top pick from the auto sector? A: There is a consensus that the two-wheeler segment will be witness more adverse impact before it starts to turn positive. Within the four-wheeler segment, Tata Motors is complete global play. The negative domestic earning is hardly making any impact on the stock. From a stock point of view, Maruti consolidating at levels of Rs 1,350-1,400 will become interesting, but there may not be a rush to buy the stock because the earnings may take some more time to recover. Q: What is your outlook on Titan Industries? A: Titan is the favourite bet and industry across the regulatory framework to address the current account deficit (CAD). The changes in gold -import and know-your-customer (KYC) norms over the last three-to-four months have been too many in too short a period of time. While industry will take its own time to comply, investors are worried about the initial adjustment period as the CAD levels continue to touch alarming levels. So till there is a dip in gold imports, I think the stocks will continue to remain soft. This period offers good entry opportunities into a stock like Titan which has corrected 25-30 percent and may correct another 5-10 percent to reach closer to the Rs 200 levels Q: What do you think of the Financial Technologies – MCX combine which has been under pressure? A: There are a few reasons for this pressure. First, the optimism of some sections of investors after the MCX-SX launch is taking time build up and second, a lot of stock will enter MCX after the lock-in period gets over and that could be a fairly large supply. Third, the introduction of the Commodities Transaction Tax (CTT) in the Budget has not gone down too well with investors. So suddenly the fundamental and technical views have started to come together to cause a very severe correction in the stock. We estimate that at current prices, MCX and Financial Technologies look very attractive. But investors will have to wait till this temporary pressure ends and the entire supply is absorbed into the stock.

Tags: a-niche-segment, analysis, best, earnings, financial, fuel, india, outlook, price, psu, quarter, segment, stock, stocks

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Q4 earnings to fall; ONGC, Maruti top picks: Motilal Oswal

admin — Fri, 15 Mar 2013 05:26:59 +0000

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Q4 earnings to fall; ONGC, Maruti top picks: Motilal Oswal

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Q4 earnings to fall; ONGC, Maruti top picks: Motilal Oswal

admin — Fri, 15 Mar 2013 05:26:59 +0000

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Q4 earnings to fall; ONGC, Maruti top picks: Motilal Oswal

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Q4 earnings to fall; ONGC, Maruti top picks: Motilal Oswal

admin — Fri, 15 Mar 2013 05:26:59 +0000

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Q4 earnings to fall; ONGC, Maruti top picks: Motilal Oswal

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SC erases own ruling which said kicking daughter-in-law not cruelty – Times of India

admin — Thu, 14 Mar 2013 21:05:14 +0000

Times of India SC erases own ruling which said kicking daughter-in-law not cruelty Times of India NEW DELHI: Four years after it shocked women by ruling that kicking a daughter-in-law was not an act of cruelty as defined under Section 498A of Indian Penal Code, the Supreme Court on Thursday erased it from court records. Allowing a plea by National … Supreme Court recalls controversial judgement that woman kicking daughter-in … NDTV SC to Examine If Kicking Daughter in Law Is Cruelty Outlook SC recalls order on 'cruelty' against daughter-in-law Vancouver Desi all 7 news articles

Tags: defined-under, india, indian, not-cruelty, recalls-order, said-kicking, supreme, table-border, thursday, top stories, vancouver-desi, years-after

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SC erases own ruling which said kicking daughter-in-law not cruelty – Times of India

admin — Thu, 14 Mar 2013 21:05:14 +0000

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admin — Mon, 11 Mar 2013 06:19:03 +0000

Growing for the second straight month, India's exports rose by 4.25 per cent to USD 26.26 billion in February. In February 2012, the overseas shipments stood at USD 25.19 billion. "Europe is performing better, there is a slight improvement in demand," Commerce Secretary S R Rao told reporters here. Also read: 'Optimistic about Indian exports touching $300bn in FY13' Exporting sectors which performed well include engineering goods, textiles, rice, oil meals, pharmaceutical and chemicals. Imports also rose by 2.6 per cent to USD 41.1 billion in the month under review, leaving a trade deficit of USD 14.92 billion. However, during the April-February period of financial year 2012-13, the country's overseas shipments declined by 4 per cent to USD 265.95 billion. Imports during the 11-month period grew by a mere 0.25 per cent to USD 448 billion, leaving a trade deficit of USD 182.1 billion. Continue reading →

Tags: 11-month-period, 25-19-billion-, 26-26-billion, 265-95-billion-, a-trade-deficit, and-chemicals-, country, indian, overseas, stood-at-usd, told-reporters, trade-deficit-

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Falkland Islands vote in referendum with eye on world

admin — Sun, 10 Mar 2013 09:20:31 +0000

LONDON: Falkland Islanders hold a referendum today and tomorrow to send a message to the world that they want to stay British, although Argentina has already dismissed the vote as illegal. Residents of the windswept archipelago in the South Atlantic have hoisted British and Falklands flags and even created a giant “YES” made of four-wheel drives ahead of the vote. In a move instigated by residents themselves, 1,672 eligible voters are being asked whether they want the Falklands to remain an internally self-governing British overseas territory. Argentina and Britain fought a brief but bloody war over the islands in 1982, and diplomatic tensions have escalated in recent years with the discovery of oil near the Falklands. Britain has held the barren islands since 1833 but Buenos Aires claims what it calls “Las Malvinas” are occupied Argentinian territory. “We would be deluding ourselves if we thought that Argentina would change overnight, but we hope it’ll be a strong message to them and to others,” legislative assembly member Jan Cheek, a sixth generation Falkland Islander, told AFP. Falklanders hope the outcome — and ideally a big turnout — will provide a slap in the face to an increasingly bellicose Argentinian President Cristina Kirchner . They also hope the referendum result will arm them with an unambiguous message to take to other capitals when pressing their case for acceptance on the international stage. The United States, for example, has studiously avoided taking sides on the issue despite its close ties with Britain. In the Falklands capital Stanley, television footage showed islanders busy on the eve of the vote hanging bunting with the British Union Jack and the Falklands flag, which is deep blue with the Union Jack in one corner and a crest with a sheep in the middle. Argentina, 400 kilometres away, has branded the referendum “illegal” because, it claims, the islanders are “implanted” and thus do not have the right to self-determination. The Argentinian foreign ministry said on Friday that the vote was “a British attempt to manipulate” the status of the archipelago. The “attempt will not alter the essence of the Falklands or put an end to the sovereignty dispute”, it insisted. London says it will not discuss sovereignty issues with Buenos Aires unless the islanders expressly wish it.

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Falkland Islands vote in referendum with eye on world

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FIIs pump over Rs 1,400cr in stocks in first week of March

admin — Sun, 10 Mar 2013 07:14:52 +0000

O verseas investors have pumped in more than Rs 1,400 crore (USD 254 million) in the Indian stock market in the first week of March. This takes their total investment tally to Rs 47,909 crore (USD 8.88 billion) in the country’s equity market in calendar year 2013 so far. During March 1-8, Foreign Institutional Investors (FIIs) were gross buyers of shares worth Rs 24,206 crore, while they sold equities amounting to Rs 22,795 crore, translating to a net investment of Rs 1,411 crore (USD 254 million), as per data provided by market regulator Sebi. “FIIs continued to be bullish on Indian equities and heavily invested in Sensex and Nifty companies. We expect this inflow would continue in the coming months as well because Finance Minister P Chidambaram has hinted that he would take reform initiates in the Parliament session,” CNI Research CMD Kishor Ostwal said. Another market analyst, however, said the country’s economic growth and instability in rupee are the major concerns for foreign investors. In a move to attract more foreign investment into the Indian equity market, the Finance Minister has proposed to strengthen Sebi and cut the securities transaction tax, which would bring down overall costs for investors. Wooing overseas investors, he said Sebi would simplify the procedures and prescribe uniform registration norms for foreign portfolio investors. It seems that FIIs are preferring debt route over equity, as they have infused Rs 3,184 crore (USD 585 million) in the bond market in March 1-8 period. This takes the overall net investments by FIIs into debt markets to Rs 10,132 crore (USD 1.87 billion) so far in 2013. FIIs bought equities worth USD 24.4 billion in 2012. As on March 8, the number of registered FIIs in the country stood at 1,756 and total number of sub-accounts was 6,337.

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FIIs pump over Rs 1,400cr in stocks in first week of March

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India needs good rating from international agencies: Shome

admin — Sat, 09 Mar 2013 10:55:52 +0000

I ndia needs good rating from global credit rating agencies to help bolster foreign capital flows into the country, Union Finance Ministry advisor Parthasarathi Shome said today. “We need foreign capital and also to prohibit capital outflows. Thus, we need good rating from international rating agencies which always keep a close watch on the fiscal deficit of the country,” Shome said at a seminar on Budget, 2013-14 jointly organised by St Xavier’s College and MCC Chamber of Commerce here. Also read : Singapore investors concerned on India’s GAAR uncertainty The key objective of the Budget has been to reduce fiscal deficit, which is urgently required, he said. With the current account deficit (CAD) at high levels, the country needs to attract foreign capital, either through FDI or external ommercial borrowings (ECB) route. Raising hopes of a sovereign credit upgrade, global rating agency Moody’s recently applauded Finance Minister P Chidambaram’s Budget 2013-14 saying that it pursues realistic fiscal consolidation path and is ‘credit positive’. “India’s budget pursues realistic fiscal consolidation, a credit positive for the sovereign,” said Moody’s in its credit outlook for the country after the Budget. Chidambaram in his Budget for 2013-14 proposed to bring down the fiscal deficit to 4.8 per cent of the Gross Domestic Product (GDP) from 5.2 per cent in the revised estimates for the current financial year. Earlier, ratings agencies like Standard and Poor’s and Fitch had threated to downgrade India’s sovereign credit rating to junk grade in view of the worsening fiscal position of the government. They also are likely to come out with fresh assessment in the backdrop of the Budget proposals. Moody’s had assigned BAA3 rating to India, which indicates investment grade rating with stable outlook. Commenting on the direct tax proposals in the Budget, Shome said 10 per cent surcharge imposed on those whose annual income was more than Rs 1 crore is a step in the right direction to address fiscal consolidation move. The marginal rates of taxation on super high income brackets were higher in countries like Chile, China, UK, Germany and South Africa. “There was room for increasing the tax rates for them. But it was kept at a lower level,” he said. Shome said the Budget has done well to increase the excise on SUVs. “This should have been done before.” Other countries tax large cars heavily, he said. Shome said in the current fiscal tax revenue would grow by 17 per cent, and 19 per cent in the next financial year. “International rating agencies are projecting a higher growth for India now. But we are cautious,” he said.

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Singapore investors concerned on India’s GAAR uncertainty

admin — Sat, 09 Mar 2013 10:15:28 +0000

I nvestors in Singapore are concerned over the pending implementation of India’s General Anti-Avoidance Rule (GAAR) and its impact on investments there, according to legal and tax executives. They said investors here were seeking more clarity on the GAAR at a seminar last night on the Indian Budget , 2013-14. “While the deferment (of GAAR) has definitely lifted market sentiment, the ambiguity regarding whether the GAAR framework would override the India-Singapore Double Taxation Avoidance Agreement (DTAA), has left our Singaporean clients in the lurch,” said Shwetambari Rao, Partner at the Bangalore-based Krishnamurthy & Co. Also Read: Budget Reactions: Not a market friendly Budget according to IndiaNivesh Sec The investors including MNCs are concerned about the GAAR impacts on the investments, both those already committed and those to be made in the future, said Gagan Malik, Director, International Tax Services at Ernst & Young Solutions LLP in Singapore. The invested were concerned about “Grandparenting” or back dating the taxes, according to Malik. Experts said investors were monitoring the Vodafone case related to GAAR, where move to back-dating of taxes had made them “uncomfortable”. The UK-based Vodafone was slapped with around USD 2 billion tax demand notice by Indian authorities for buying Hong Kong-based Hutchison’s telecom business that involved substantial Indian assests. Aimed at preventing tax evaders from routing investments through low tax jurisdictions, GAAR rules have been criticised for being poorly drafted and causing widespread uncertainty for investors, said PricewaterhouseCoopers Services LLP. Presenting the Budget on February 28, Finance Minister P Chidambaram had said that the modified version of the GAAR provisions will come into effect from April 2016. A number of representations were received against GAAR provisions introduced in the last Budget. Following which the government had set up an expert committee under Parathasarthi Shome to give recommendations on these tax proposals. “I propose to bring the modified provisions into effect from April 1, 2016,” Chidambaram had said. Although the delay in GAAR implementation has brought some relief, investors would have to prepare their taxation system by 2015, which was not far away, said Krishnamurthy & Co’s senior lawyer Rahul Singh Talwar. He said, however, that the Indian government was aware of the steps taken by Singapore to differentiate itself from tax havens and keep in mind the growing commercial relationship between the two countries. GAAR and its impact on the investments were some of the highlights of discussions at the three seminars on the Indian Budget held here this week, aiming to explain the benefits for foreign investments in India in the coming year. Among other things, the proposed infrastructure and residential spending, as proposed in the Budget, are expected to generate business opportunities for large scale material and equipment supplies which were not currently available in India, said S Narayan, Head of Research and Visiting Senior Research Fellow at the Institute of South Asian Studies (ISAS) at the National University of Singapore. The ISAS along with YES Bank and Times Now held the third Indian Budget seminar yesterday, following up to the first organised by the High Commission of India and the Singapore Management University and the second by PwC.

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Singapore investors concerned on India’s GAAR uncertainty

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