| Professional
News |
| Misc. Corporate Laws
& Other Commercial Policies |
| Industry ministry secy for rejig of
land acquisition law |
Delhi : The Department of
Industrial Policy and Promotion (DIPP) will press to the next
government for redrafting the recently enacted Land
Acquisition, Rehabilitation and Resettlement Act.“The new
(land acquisition) Act is extremely bureaucratic, with the
introduction of a social impact assessment. It is not
pro-farmer; it provides for too many committees and too many
approvals. It will be too time-consuming a process,” Amitabh
Kant, secretary, DIPP, told Business Standard.
|
| Finance & Money
Markets |
| For FIIs, India is the best in EM
basket |
Maharashtra : That "the
darkest hour of all is the hour before the dawn" is an old
Irish saying, meant to inspire hope under adverse
circumstances. The proverb fits the trajectory of Indian
markets and foreigner investors' attitude towards the country
over the past year. Around a year ago, when the rupee began to
depreciate in May 2013 amidst poor macroeconomic fundamentals
and monetary tapering by the US Federal Reserve, it seemed
that India had lost the economic plot and risked becoming an
untouchable among emerging market (EM) peers.
|
| Mutual funds increase bets on banks,
buy shares of SBI, HDFC Bank, ICICI Bank & Axis; dump
IT |
Maharashtra : Top mutual
funds mounted bets on banks in March and cut their holdings in
information technology (IT) stocks as investors worried about
the impact of advancing rupee on exporters. Fund managers said
valuations of IT stocks were expensive considering the
stronger Indian currency, prompting them to shift a portion of
their money to battered bank stocks.
|
| At Rs 2.07 lakh crore in March,
P-Note investments touch three-year
high |
Delhi : Investments in
shares through participatory notes (P-Notes) — a preferred
route for HNIs and hedge funds from abroad — surged to the
highest level in nearly three years at R2.07 lakh crore (over
$34 billion) in March. According to data released by the
Securities and Exchange Board of India (Sebi), the total value
of P-Note investments in Indian markets (equity, debt and
derivatives) rose to R2,07,639 crore at the end of March from
R1,72,738 crore in the preceding month.
|
| New govt's fiscal policy to affect
RBI's monetary stance |
Maharashtra : With a new
government at the Centre only a few weeks away, the Reserve
Bank of India (RBI) might wait for the new dispensation’s
fiscal policy to take its policy actions, feel experts.
Although Consumer Price Index (CPI)-based inflation is on the
rise in March, RBI might hold rates till June.According to
experts, if the new government takes concrete steps, it would
provide room for RBI to cut rates in the future, though not in
near term.
|
| Commodities |
| Iron ore production yet to pick up in
Karnataka |
Karnataka : Normalcy in iron
ore production is yet to be restored in Karnataka a year after
the Supreme Court ordered for reopening of all mines under
Category A and B.Of 115 mines, only 23 mines, besides two
leases of state-owned National Mineral Development Corporation
(NDMC) Limited, have resumed production. This will be enough
to meet only half the steel industry’s iron ore
requirement.
|
| INTERNATIONAL
BUSINESS |
| China factory strike exposes welfare
payment system |
Zhou Hujun, one of thousands of shoe
factory workers on strike in southern China, drove his
motorbike to the local government's Social Security Department
seeking answers. After a few minutes, he left clutching
spreadsheets that just raised more questions.Zhou and other
striking workers believe Yue Yuen Industrial Holdings, which
owns the factory making footwear for Nike, Adidas and others,
has for years underpaid into workers' social insurance
accounts — government-mandated nest eggs for disability,
unemployment and retirement.
|
| PepsiCo’s profit rises on snack
sales, price hikes |
PepsiCo reported a
stronger-than-expected quarterly profit as the company sold
more snacks around the world and hiked prices, including on
its drinks. The company, which also makes Frito-Lay, Gatorade,
Mountain Dew and Tropicana, said global snack volume rose 2%
in the period. Global beverage volume was unchanged from a
year ago, including in its closely watched North American
drinks unit. Coca-Cola also reported flat volume in the North
America market earlier this week. Both companies have been
offsetting ongoing declines in their flagship soda businesses
by relying more heavily on other beverages, such as sports
drinks, juices and bottled waters.
|
| Pension/Provident
Fund |
| Online PF transfer for workers under
private trusts from July |
Delhi : Organised sector
workers covered under private PF trusts, which manage their
employees’ retirement fund themselves, will be able to
transfer their PF accounts online from July this year.There
are over 3,000 private PF trusts, which manage the accounts as
well as retirement fund of their workers. These trusts are
regulated by the Employees’ Provident Fund Organisation
(EPFO).
|
| Tenders
& Assignment |
Urban Administration And Development - Ujjain -
Madhya Pradesh  |
Description :Audit of DUDA
Offices for Financial Year 2004-05 To 2013-14 Cluster 4.
Last Date : 05/05/2014
Address :Chief Executive Officer
State Urban Development Authority Directorate of Urban
Administration Palika Bhavan, Shivaji Nagar, Bhopal 462016
Phone :91 755 2552016
E-Mail :infomsu@mpurban.gov.in
|
| Urban Administration And Development - Jabalpur -
Madhya Pradesh |
Description :Audit of DUDA
Offices for Financial Year 2004-05 To 2013-14 Cluster 3.
Last Date : 05/05/2014
Address :Chief Executive Officer
State Urban Development Authority Directorate of Urban
Administration Palika Bhavan, Shivaji Nagar, Bhopal 462016
Phone :91 755 2552016
E-Mail :infomsu@mpurban.gov.in
|
| Urban Administration And Development - Indore -
Madhya Pradesh |
Description :Audit of DUDA
Offices for Financial Year 2004-05 To 2013-14 Cluster 2
Last Date : 05/05/2014
Address :Chief Executive
Officer,State Urban Development Authority Directorate of Urban
Administration Palika Bhavan,Shivaji Nagar, Bhopal 462016
Phone :91 755 2552016
E-Mail :infomsu@mpurban.gov.in
|
| Urban Administration And Development - Bhopal -
Madhya Pradesh |
Description :Audit of DUDA
Offices for Financial Year 2004-05 To 2013-14 Cluster 1.
Last Date : 05/05/2014
Address :Hall No-105, Directorate,
Urban Administration and Development,6No Bus Stop, Shivaji
Nagar, Bhopal. Madhya Pradesh
|
| National Institute Of Fashion
Technology |
Description :Appointment of
Internal Auditors.
Last Date :
06/05/2014
Address :National
Institute Of Fashion Technology,NIFT Campus,Hauz Khas,New
Delhi 110016
|
|
| Reminders |
| Tenders |
| Sarva Shiksha
Abhiyan 21/04/2014
|
|
| Notifications
& Circulars |
| RBI |
| Notification No.
RBI/2013-14/566 (Delhi) 16/04/2014
|
| Foreign Direct Investment (FDI) in Limited Liability
Partnership (LLP) |
|
|
 |
| Economy |
| India |
| Committee of secretaries to take up Indo-US IPR
issues |
| Small states no guarantee for good
growth |
| Consulting cos managing poll campaign may earn Rs
700-800 crore, says study |
|
| International |
| China March New Home Price Increases Ease on
Tighter Credit |
| PetroChina hikes shale gas spending to more than
$1.6 billion |
| Forfeiture of Iran’s assets in Manhattan sets
record |
| Hollywood begs for a tax break in some
states |
|
| Corporate
Watch |
| Reliance Industries net profit flat despite
jump in refining margins |
Maharashtra : Reliance Industries
on Friday posted a flat growth in its net profit at Rs 5,631
crore during the January-March quarter compared to the same
period last year, which was largely in line with expectations.
Total revenues at Rs 97,807 crore was up 13% on a yearly basis
but what surprised the Street was the gross refining margin
(GRM) at $9.30 per barrel against analyst expectations of
around $8.70-9 per barrel. RIL’s GRM stood at $10.10 per
barrel during the same period last year and at $7.60 per
barrel in the preceding quarter.
|
| NTPC may be allowed to divert unutilised
gas to other plants |
Delhi : State-owned power generator
NTPC may soon be able to divert unutilised gas with any of its
power stations to its other gas-starved units. The move is
aimed at optimum usage of the scarce fuel and maximise power
generation. Currently, the gas allocated to a unit can be
utilised only for its requirement. Sources in the government
said that ministry of petroleum and natural gas would soon
direct fuel transporter GAIL to permit intra-day revision of
nominations of gas meant for a particular NTPC project so that
the power generator is able to use any unutilised fuel at a
generating station in any other power plant connected with the
pipeline.
|
| At 40%, TCS miles ahead of Infy in
retaining employees |
Karnataka : Tata Consultancy
Services (TCS), India’s largest IT services exporter, has
clearly outstripped its nearest rival, Infosys, on the human
resource (HR) parameter as well, retaining 40% of the total
employees hired during FY14. On the other hand, Infosys was
able to retain only 9% of the total employees hired in the
fiscal.In FY14, gross employee hiring at TCS was 61,200 while
the net addition was 24,268, which works out to an absorption
ratio of 40%.
|
| Tata Motors gives makers of counterfeit
spares the chase |
Tamil Nadu : Tata Motors has
stepped up action against manufacturers of counterfeit parts
in India. “The company took action against more than 200 such
manufacturers across the country last fiscal and plans to take
action against 500 manufacturers this fiscal,” said Rajesh
Bagga, senior vice-president, HR & legal, Tata Motors. 'As
part of our ongoing strategy and to protect customers from the
menace of counterfeit spares,
|
| Five firms to buy back shares worth Rs
6,000 crore this year |
Delhi : As many as five listed
companies, including Cairn India and DCM Shriram, have
announced plans to buy back shares worth nearly R6,000 crore
from shareholders this year so far. Other three firms that
have launched their buyback offers are Isgec Heavy
Engineering, Gujarat Apollo Industries and Indo Borax &
Chemicals.Together, the five firms have planned to infuse a
capital of R5,940.85 crore to repurchase 19 crore shares from
their respective shareholders through the open market route on
stock exchanges, according to the Sebi data.
|
| Wipro closing in on a large
acquisition |
Karnataka : Wipro Technologies,
whose financial performance has largely stabilised lately, is
understood to be closing in on a mid- to large-sized
acquisition that could be valued more that $400 million
(around Rs 2,414 crore). According to sources privy to the
development, the Bangalore-based information technology (IT)
services company, India's third-largest, is evaluating a few
fairly large options in geographies like the US and Germany.
|
| Companies like Coca-Cola, Britannia, Parle,
ITC and others target packaging to cut production
costs |
Delhi : The credit for this doesn't
quite go to Suvir Mirchandani, the teenager who said the US
government can save $370 million a year in ink costs by
changing fonts, but Coca-Cola has done something similar by
shrinking cap and neck sizes of its bottles.The maker of Thums
Up and Coke colas has cut its packaging costs per bottle by
7%-10% after reducing the height of bottle cap and neck of all
its aerated drinks and water by about 5 mm each, company
officials said.
|
| Gitanjali Gems seeks Rs 1,700 cr more in
loan to revive its business |
Maharashtra : Jewellery firm
Gitanjali Gems which owns brands such as Nakshatra Gili,
Sangini and Asmi, is seeking to raise an additional loan of Rs
1,700 crore in the second attempt to revive its business.The
Mehul Choksi-run company, which suffered due to depreciation
of the rupee against the US dollar and restriction on gold
imports, has an outstanding loan of Rs 4,285 crore.
|
| Future Group plans standalone stores for
in-house brands |
West Bengal : To expand its
footprint in the fashion retail business, the Kishore
Biyani-led Future Group plans to set up exclusive stores for
two of its private apparel brands — Bare and Rig. The plan
includes setting up more than 10 stores this year in tier-II
and tier-III markets. 'There are lots of concepts and plans to
expand into fashion retailing, including the e-commerce
space,' said Rachna Aggarwal, CEO of Indus League, a division
of Future Lifestyle Fashions.
|
| Indian cos may go dutch to meet CSR norms,
maximise impact of social joint
ventures |
Delhi : Companies in India,
particularly mid sized and small ones, may go dutch to meet
corporate social responsibility (CSR) norms under the new
corporate law, a move that can help them cut down on common
costs and maximise impact of the money they spend on
philanthropy.India has become the first country in the world
to make it mandatory from this month for firms with a net
worth of over Rs500 crore or yearly sales of Rs1,000 crore
plus or those booking net profit in excess of Rs5 crore to
allocate at least 2% of their profits to social
responsibilities.
|
|
| Tenders
& Assignment |
| Urban Administration And Development - Sagar -
Madhya Pradesh |
Description :Audit of DUDA
Offices for Financial Year 2004-05 To 2013-14 Cluster 7.
Last Date : 05/05/2014
Address :Chief Executive Officer
State Urban Development Authority Directorate of Urban
Administration Palika Bhavan, Shivaji Nagar, Bhopal 462016
Phone :91 755 2552016
E-Mail :infomsu@mpurban.gov.in
|
| Urban Administration And Development - Gwalior -
Madhya Pradesh |
Description :Audit of DUDA
Offices for Financial Year 2004-05 To 2013-14 Cluster 6.
Last Date : 05/05/2014
Address :Chief Executive Officer
State Urban Development Authority Directorate of Urban
Administration Palika Bhavan, Shivaji Nagar, Bhopal 462016
Phone :91 755 2552016
E-Mail :infomsu@mpurban.gov.in
|
| Urban Administration And Development - Rewa -
Madhya Pradesh |
Description :Audit of DUDA
Offices for Financial Year 2004-05 To 2013-14 Cluster 5.
Last Date : 05/05/2014
Address :Chief Executive Officer
State Urban Development Authority Directorate of Urban
Administration Palika Bhavan, Shivaji Nagar, Bhopal 462016
Phone :91 755 2552016
E-Mail :infomsu@mpurban.gov.in
|
|
|
No comments