| Professional
News |
| SEBI |
| MCX-SX gets final clearance from
SEBI |
|
Tamil Nadu : MCX Stock
Exchange (MCX-SX) has received the final go-ahead from
regulator Securities and Exchange Board of India (SEBI) for
going live in new product segments such as equity, wholesale
debt (bonds) and interest rate derivatives. Joseph Massey,
MD& CEO of MCX-SX, said in a statement, that out of 700
applications for new membership received by MCX-SX, a world
record for an exchange before going live, 434 applications had
been forwarded to SEBI for registration, after completion of
documentation process and scrutiny of members.
|
| IRDA |
| Irda draft asks insurers to open new
offices in semi-populated areas |
|
Maharashtra : Insurance
Regulatory and Development Authority ( Irda) has released an
exposure draft to regulate opening of new places by insurance
companies. As per the draft, insurers who have completed 10
years of business have to ensure that at least 25 per cent of
the proposed new places of business should be in places with
population of 1,00,000 or below. Irda, in the draft, has asked
insurers to have in place the Board approved Business
Expansion Programme for every financial year. "The Business
Expansion Programme shall, in addition to the business plans
of the Insurer,contain the proposals, if any, for opening new
places of business taking into account the need for opening
new places of business not only in the urban centers but also
in semi-urban and rural centers," said Irda.
|
| FDI
Policy |
| Ceiling for FDI in ARCs raised to 74%
from 49% |
|
Delhi : The government has
increased the ceiling for foreign direct investment ( FDI) in
asset reconstruction companies (ARCs) to 74 per cent from 49
per cent. This is, however, subject to the condition that no
sponsor should hold more than 50 per cent of the shareholding
in an ARC, either by way of FDI or by routing through a
foreign institutional investor (FII).Foreign investment in
ARCs will have to comply with the FDI norms in terms of entry
route conditionality and sectoral caps, the finance ministry
said in a release
|
| Finance & Money
Markets |
| Rupee hits three-week low; ‘fiscal
cliff’ progess eyed |
|
Maharashtra : The rupee hit
a three-week low on Friday, extending its fall for a third
straight week, as uncertainty over the U.S. “fiscal cliff”
resolution dented demand for risk assets including domestic
equities. Traders said month- and year-end dollar demand from
oil and gold importers also added to the downward pressure on
the local currency. Oil firms bought the greenback
aggressively this week while gold importers purchased the U.S.
unit to take advantage of relatively lower global gold
prices.
|
| Equities end in red on global
cues |
|
Maharashtra : Indian
equities ended in the red for the second consecutive session
on Friday tracking decline in global markets and on increased
uncertainty over the US fiscal cliff after US Republicans
cancelled a tax vote in the US Congress late Thursday, with
less than two weeks remaining for the Budget reform deadline.
Sensex dropped 1.09% or 211.92 points to end the day at 19,242
and Nifty settled 1.16% or 68.70 points lower at 5,847.70,
|
| Offers for sale thrive on right
pricing & buoyant markets |
|
Maharashtra : Attractive
pricing and buoyant markets have been the recipes for success
of recent offers for sale (OFS) in the capital market. Twelve
out of 15 secondary offers since June have been subscribed
between 1.03 and seven times. The latest offer - Eros
International on Thursday elicited an overwhelming response,
with the issue being subscribed 4.4 times.On the other hand,
the Adani Enterprise OFS has just sailed through. Sebi
introduced the OFS mechanism in February this year to enable
promoters of listed companies to meet the minimum public
shareholding norm of 25% by June 2013.
|
| FIIs make aggressive bids for Indian
debt on rate cut hopes |
|
Maharashtra : Signalling an
increase in demand for Indian debt, foreign investors bid
aggressively for investment limits auctioned by market
regulator Securities Exchange Board of India on hopes of
better policy environment and reduction in interest rates.
Against overall investment limits of Rs 16,550 crore in
government and corporate bonds, foreign institutional
investors bid for Rs 21,535 crore, a 30% oversubscription. For
long-term government bonds with a minimum residual maturity of
five years, FIIs put in bids worth Rs 12,094 crore against
limits of Rs 10,264 crore.
|
| Dec 2012, the kindest month for
equity issues |
|
Maharashtra : The season of
merriment has brought joy to the primary markets. Equity fund
raising via public issues (initial public offerings, follow-on
public offerings and offers for sale) has helped India Inc
garner more than R13,000 crore so far this December — the
highest in the history of Indian equity markets. According to
stock exchange data, the sale of 10% stake in state-owned NMDC
raised nearly Rs 6,000 crore. The IPOs of Bharti Infratel,
CARE Ratings and PC Jeweller raised a combined R5,600 crore
while the OFS of Honeywell Automation, Reliance Power,
|
| Commodities |
| Sheen’s off gold, but copper conducts
just fine |
|
Delhi : Crude oil and gold
tumbled on Friday, tracking a broader fall in equities, as a
fresh setback in talks to find a solution to the US Budget
crisis and dismal data about the struggling eurozone prompted
investors to retreat from risky assets. Gold stayed just shy
of a four-month low and brent crude dropped by more than $1 a
barrel intraday. However, copper recovered some gains after
hitting a three-week low in the previous session and soyabean
rose on technical buying.
|
| FMC to ban over-leveraging in futures
market |
|
Maharashtra : In a major
blow to the commodity futures markets, the Forward Markets
Commission (FMC) is planning to ban extra-leveraging of
exposure by members to their clients.The commodity
derivatives’ market regulator is set to issue a directive in
this regard shortly.In usual practice, commodity exchanges
offer exposure of up to 20 times of clients’ deposits.
Members, in order to grab business, also allow leveraging of
double the exchanges’ limit. This means, clients get exposure
of up to 200 per cent of their deposits with a member. This,
FMC said, has proven risky for all
|
| INTERNATIONAL
BUSINESS |
| Patent deal with RIM to help Nokia
boost dire finances |
|
Struggling Finnish mobile phone maker
Nokia has settled its patent dispute with BlackBerry maker
Research in Motion in return for payments, as it tries to
exploit its trove of technology patents to boost its dire
finances. Terms of the agreement were confidential, but Nokia
said on Friday it included a one-time payment to be booked in
the fourth quarter, as well as ongoing fees,
|
| ArcelorMittal reports $4.3-bn
write-down of Europe units |
|
ArcelorMittal, the world’s biggest
steelmaker, will write down the goodwill in its European
businesses by about $4.3 billion as the region’s weakening
economy erodes demand and leaves producers with excess
capacity. The writedown will take the form of a non-cash
impairment charge recorded in the fourth quarter of 2012, the
Luxembourg- based company said today in a statement. Steel
consumption in Europe has dropped by about 8 per cent this
year, it said.
|
| Banking |
| Everyone has right to banking, says
FM |
|
Delhi : Ahead of the rollout
of Aadhaar-enabled direct benefits transfer scheme on January
1, 2013, finance minister P Chidambaram said like education,
work, food and speech, banking services are right of every
individual. “Banks are not doing a favour by providing
services such as educational loans and loans to self-help
groups, but are only doing their duty. People have a right to
get services like loans from a bank,” the minister said on
Friday speaking at the Central Bank of India’s
|
|
![]() |
| Economy |
| India |
| India-ASEAN relations at exciting stage:
PM |
| Rentals go through the roof on high
street |
| S&P expects India's economic growth at 6.5%
in 2013 |
| Forex reserves increase $1.63
billion |
| Govt to soon launch social security insurance
scheme |
| FM asks banks to gear up for Cash Transfer Scheme
roll out |
| ‘Centre working on incentives to cushion slowdown
impact on exports’ |
| FDI inflows jump 65% to $1.94 bn in
Oct |
| Textiles industry seeks easier imports of cotton
yarn, fabric |
| Insurance density falls for first time in India:
Irda |
| |
| International |
| IMF warns French economy vulnerable to
downturn |
| Signs suggest US better economy if 'cliff' is
averted |
| If You Bought Greek Bonds in January You Earned
80%: Euro Credit |
| |
| Corporate
Watch |
| Cos tap CDR cell to rejig Rs 52k-cr loans
in Apr-Nov |
|
Maharashtra : Corporate India’s
balance sheets are getting increasingly stressed as companies
struggle with the slowdown. And banks are bearing the brunt of
it. Loans worth a whopping Rs 52,000 crore have been referred
to the corporate debt restructuring (CDR) cell between April
and November this year and that’s after R50,000 crore of debt
having been recast
|
| Cognizant to buy 6 companies of
Germany-based C1 Group; expects revenue to grow by
20% |
|
Maharashtra : Cognizant Technology
Solutions said it was acquiring six IT consulting and services
firms of the C1 Group, based in Hamburg, Germany, with a focus
on manufacturing and logistics, energy and utlilities, and
financial services. The acquisition strengthens Cognizant's
presence in Europe, giving it a bigger footprint in Germany
and Switzerland.
|
| Edelweiss to sell 26% stake in its housing
finance arm |
|
West Bengal : Edelweiss Financial
Services will divest 26 per cent stake in its housing finance
arm, Edelweiss Housing Finance, to a foreign strategic partner
within an year, according to Rashesh Shah, chairman. “We want
to do it in a year’s time. Our idea is to divest as little
(stake) as possible.
|
| |
| Tenders
& Assignment |
National Projects Construction Corporation
Limited ![]() |
Description :Chartered Accountants for
the preparation/changing of accounting policies in accordance
with Accounting Standards issued by ICAI
Last
Date : 27/12/2012
Address
:National Projects Construction Corporation
Limited
(A Government of India Enterprise)
Corporate
Office: Plot No.67-68, Sector-25, Faridabad (Haryana)
Phone :0129-2234750
|
Himachal Pradesh State Handicrafts And Handlooms
Corporation Limited ![]() |
Description :Out Sourcing of Accounting
Work Through Chartered Accountants Firms
Last
Date : 29/12/2012
Address
:Palampur - Himachal Pradesh
|
Department Of Horticulture And Food
Processing ![]() |
Description :Appointment of Chartered
Accountant Firms for Audit of Records under Horticulture
Mission for North East & Himalayan Stats
Last Date : 29/12/2012
Address :Department Of Horticulture
And Food Processing Ranikhet Uttarakhand
|
Gujarat Mineral Development Corporation
Limited ![]() |
Description :Empanelment of Internal
Auditors - Expression of interest from reputed firm of
Chartered Accountants for empanelment as Internal Auditors for
the Financial Year 2013-14 and 2014-15.
Last
Date : 31/12/2012
Address
:Shri Pawan Bhootra, GM.
(Accounts), GMDC
Limited, Khanij Bhavan, 132 Feet Ring Road, Vastrapur,
Ahmedabad.
Phone :079-27913759
|
Drinking Water And Sanitation Department
![]() |
Description :Expression of Interest for
Hiring Services of Chartered Accountant Firm for Statutory
Audit for the Financial Year 2012-13
Last Date
: 11/01/2013
Address :Ranchi
- Jharkhand
|
Mahanadi Coalfields Limited ![]() |
Description :Empanelment of Partnership
Chartered / Cost Accountant Firms for Internal Audit of Coal
Sale & Physical Verification of Fixed Assets &
Partnership Chartered / Cost Accountant firms having head
office / Registered Office in the state of Odisha.
Last Date : 18/01/2013
Address
:Jagrutivihar,Burla-768020,Dist-Sambalpur,Odisha
Phone :0663-2542461
|
| |
| Reminders |
| Tenders |
| Rural Development And Panchayati Raj
Department 23/12/2012
|
| Public Health Engineering
Department 24/12/2012
|
| National Ganga River Basin
Authority 24/12/2012
|
| Women Development
Corporation 24/12/2012
|
| Sarva
Shiksha Abhiyan 26/12/2012
|
| Government Industrial Training
Institute 26/12/2012
|
| Labour Department 26/12/2012
|
| Department Of
Agriculture 26/12/2012
|
| Jodhpur Vidyut Vitaran Nigam
Limited 27/12/2012
|
| Power Transmission Corporation Of Uttarakhand
Limited 29/12/2012
|
| |
| Notifications
& Circulars |
| CUSTOMS |
| ORDER (Delhi) 21/12/2012
|
| Appointment of Common Adjudicating Authority |
| ORDER (Delhi) 20/12/2012
|
| Appointment of Common Adjudicating Authority |
| Notification No. 53 / 2012 – Customs
(ADD) (Delhi) 14/12/2012
|
| Seeks to amend notification No.82/2008-Cus,dated
27.06.2008. |
| Notification No. 54/2012-CUSTOMS
(ADD) (Delhi) 14/12/2012
|
| Rescinds Notification No.41/2011-Cus. dated. 23rd May,
2011 |
| Notification No.55 /2012-Customs
(ADD) (Delhi) 14/12/2012
|
| Seeks to levy anti-dumping duty on imports of Sodium
Hydrosulphite, originating in, or exported from People’s
Republic of China, for a further period of five years |
| Notification No. 56/2012-Customs
(ADD) (Delhi) 14/12/2012
|
| Seeks to modify final anti-dumping duty on imports of
Cable Ties, originating in, or exported from the People’s
Republic of China and Taiwan and imported into India, imposed
vide Notification No. 44/2009-Customs dated 30th April,
2009 |
| |
|
No comments