| Professional
News |
| INCOME
TAX |
| Tax authorities probing transactions
between MCX-SX, FTIL |
Maharashtra : The income tax
(I-T) department is looking into deals between MCX Stock
Exchange and its erstwhile promoter, Financial Technologies
(India) Limited (FTIL).A special audit will look into any
pricing anomalies in the transactions between the two,
according to a source. FTIL had a contract for helping the
exchange with its technology needs.
|
| Misc. - Indirect
Tax |
| Scanner on slipping indirect tax
collection |
Delhi : After the income tax
(I-T) department, the excise and service tax department plans
to use information from third-party sources to match with its
own data and assess reasons for unsatisfactory tax collections
from some sectors."If other indicators for some sectors are
doing well, we can compare those with tax data and see why the
revenue from that particular sector is not keeping pace," said
a finance ministry official.
|
| SEBI |
| Market regulator raises the bar on
corporate governance |
Delhi : Market regulator
SEBI has gone in for more stringent requirements in certain
areas of corporate governance under the latest amendment to
the listing agreement as opposed to those required by the new
company law.This has been done to raise the bar on corporate
governance among listed companies, sources in the Securities
and Exchange Board of India (SEBI) said.
|
| COMPANY
LAW |
| Companies Act likely to jolt realty
firms |
Maharashtra : The
recently-enacted Companies Act, 2013, is expected to give a
jolt to real estate companies, already facing a severe fund
crunch due to falling sales and high debt on books.Section 185
of the Act, among other things, says a company cannot give
loans to (or provide security on a loan taken by) a person in
whom its director is interested.According to the Act,
|
| FDI
Policy |
| Foreign tag hits HDFC Bank's quest to
raise FII limit |
Delhi : HDFC Bank's bid to
increase its foreign institutional investment limit could be
affected by the change in foreign direct investment (FDI)
policy five years ago that deems parent Housing Development
Finance Corp. a foreign-owned company. The application is set
to come up for consideration on Monday.HDFC Bank wants to
raise its own overseas shareholding limit to 67.55 per cent
from 49 per cent.
|
| Misc. Corporate Laws
& Other Commercial Policies |
| National Thermal Power Corporation
frames new policy to weed out unprofessional
vendors |
Delhi : Country's largest
power producer NTPC, which does Rs 50,000-crore worth public
procurements every year, has put in place a detailed policy on
banning business dealings involving unprofessional and
frivolous vendors. The new policy, introduced last month,
comes against the backdrop of instances of projects getting
adversely impacted due to unprofessional approach of some
vendors.
|
| Finance & Money
Markets |
| India cuts exposure to US treasury
securities by $1.1 bn |
Maharashtra : India reduced
its exposure to US treasury securities in February along with
other BRICS economies due to a slowdown in portfolio
investment resulting in lower surpluses in these economies.
India cut its exposure in US treasury bonds by 1.6 per cent,
or $1.1billion, in February to $67 billion, data released by
the US treasury department showed.
|
| Markets to take cues from Q4 earnings
of blue chips such as HDFC Bank, Maruti Suzuki, ICICI
Bank |
Maharashtra : Quarterly
earnings of blue chips such as HDFC Bank Maruti Suzuki India
and ICICI Bank would dictate the trend on stock markets this
week, which may also see volatility amid expiry of derivatives
on Wednesday, say analysts. Stock markets are closed on
Thursday due to general elections in Mumbai.HDFC Bank, Cairn
India Maruti Suzuki India, ICICI Bank, ACC Ambuja Cements and
Axis Bank are among the the major companies that would
announce financial results this week.
|
| Commodities |
| Gold futures drops on improving signs
of US economy |
Delhi : Gold futures fell as
signs of gains in the US economy eroded demand for the metal.
Platinum dropped amid signs of progress in the labour dispute
in South Africa, the world's biggest producer. Consumer
confidence rose from a nine week low as Americans grew more
upbeat about the economy, and jobless claims were close to the
lowest in almost seven years, data showed last week.
|
| INTERNATIONAL
BUSINESS |
| Jaguar Land Rover China production to
start by end of this year |
Tata Motors Ltd’s Jaguar Land Rover
(JLR) unit plans to start making cars in China by the end of
this year.“They start to make the first prototype bodies this
week, and it’s almost a miracle that’s come out of the ground
in such a short period of time,” Jaguar Land Rover China
president Bob Grace told reporters on Sunday at the Beijing
motor show. “It’s going to be a product from the Land Rover
stable, so it’s going to be an SUV,” he said, without
identifying the specific model.
|
| MERGER &
ACQUISITION - INTERNATIONAL |
| Pfizer mulls $100 billion bid for
AstraZeneca |
Intl : US pharmaceutical
giant Pfizer has approached British rival AstraZeneca to
propose a 60 billion pound ($101 billion) takeover, Britain's
Sunday Times reported.The paper cited senior investment
bankers and industry sources saying that informal
conversations about a deal had taken place between the two but
that no talks were currently under way after AstraZeneca
resisted the approach.
|
| Pension/Provident
Fund |
| EPFO to allot permanent A/c No to
active subscribers by October 15 |
Delhi : Retirement fund body
EPFO will provide permanent or universal account numbers (UAN)
on the pattern of core banking services to its over five crore
active subscribers by October 15 this year. Under core banking
services, a customer can avail the bank services in any of its
branch through his allotted unique account number.
|
|
 |
| Economy |
| India |
| Crisil pegs average growth at 6.5 pc over the
next 5 fiscals |
| Tractor sales register 20 pc growth in
2013-14 |
| Completed power plants to get assured supply from
Coal India |
| Petroleum Ministry to re-auction Ratna and
R-series oilfields |
|
| International |
| Italy economy minister says 2014 growth could be
above 0.8 percent |
| Dollar up against yen as Japan's trade deficit
swells |
| China's 'speculation city' returns to real
economy |
|
| Markets
Today |
| NSE |
6,817.65
|
|
| BSE |
22,764.83
|
|
| NASDAQ |
4,095.52
|
|
|
|
|
| USD |
60.47
|
|
| EURO |
83.57
|
|
| JPY(100) |
58.92
|
|
| GBP |
101.45
|
|
|
|
| Corporate
Watch |
| Hero MotoCorp plans Latin America base in
global push |
Delhi : Hero MotoCorp, the world's
largest two-wheeler maker by volume, is expanding its
manufacturing operations to new regions. Next on its agenda
are Latin America and a market closer home. The Pawan
Munjal-led company has firmed up plans to set up a fullfledged
manufacturing plant each in Colombia and Bangladesh, three
people familiar with the matter told ET.
|
| Infosys’ next CEO to be from IT services
only; Capgemini's Salil Parekh , Cognizant's Francisco D'Souza
likely to be approached |
Karnataka : Infosys' search for its
fifth chief executive officer—who will also be its first
non-founder CEO—is limited to those working in the information
technology services sector, people aware of the plan said,
which means only a handful of IT industry veterans will be in
contention for the job. India's secondlargest software company
is in no mood to risk hiring a CEO from outside the IT
services space because the industry is a specialised one and
the learning curve steep, one of those with knowledge of
Infosys' thinking said. 'Now it could be from engineering or
sales but from IT services only.'
|
| To reduce price of gas from Australia, GAIL
suggests swapping |
Delhi : GAIL (India) Ltd, one of
the public sector promoters of Petronet LNG Ltd (PLL), feels
that swapping is an option which PLL should consider for the
gas contracted from Australia’s Gorgon project. This, it
feels, will help save at least a dollar on the gas price.If
the Gorgon gas, contracted in 2009, is brought at the current
price, it may end up being the most expensive gas India has
imported.
|
| Jet-Etihad yet to tap
synergies |
Maharashtra : The first year of the
alliance between Jet Airways and Abu Dhabi-based Etihad
Airways saw an expansion of flights between the two countries
but top-level exits at the Indian carrier impacted the
synergy.On April 24, 2013, the two signed a deal for equity
infusion by Etihad in Jet, loan guarantees, purchase of Jet's
slots at London’s Heathrow airport, investing in Jet’s
frequent flyer programme and cooperation in commercial,
engineering and operational areas.
|
| Orchid CDR process faces rough
weather |
Tamil Nadu : Chennai-based pharma
major Orchid Chemicals & Pharmaceuticals’ corporate debt
restructuring (CDR) process has hit a road-block. Billionaire
industrialist Cyrus Poonawalla and his associate firms, which
hold around 14% stake in the company, have moved the Company
Law Board (CLB) and Madras High Court seeking quashing of
implementation of the CDR package until their petition on
mismanagement of company affairs is disposed of by
CLB.
|
|
| Tenders
& Assignment |
Hindustan Copper Limited  |
Description :Appointment of Internal
Auditors for F.Y.2014-15 for Hindustan Copper Limited
Last Date : 30/04/2014
Address :Tamra Bhavan, 1,Ashutosh
Chowdhury Avenue, Kolkata - 700 019
Phone
:+91 33 2283 2226
|
| Panchayat And Rural Development Department -
Kolkata West Bengal |
Description :Hiring of
services for Process Review of Internal Audit of Gram
Panchayats.
Last Date : 05/05/2014
Address :Project Manager
ISGP
Project, Panchayats & Rural Development
Department,Millennium City IT Park, Tower - II, 3rd Floor
(Unit D), DN - 62, Sector – V, Salt Lake,Kolkata-700 091
Phone :+91 33 2367-1461
E-Mail :isgp.wbsrda@gmail.com
|
|
| Reminders |
| Tenders |
| North Eastern Regional Agricultural Marketing
Corporation Ltd 28/04/2014
|
| Vallabhbhai Patel Chest
Institute 28/04/2014
|
|
| Notifications
& Circulars |
| SEBI |
| CIR/CFD/POLICY
CELL/2/2014 (Maharashtra) 17/04/2014
|
| Corporate Governance in listed entities - Amendments to
Clauses 35B and 49 of the Equity Listing Agreement |
|
|
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