| Professional
News |
| EXCISE |
| Excise duty cuts fail to draw
buyers |
Delhi : It is a little over
two months since P Chidambaram, Finance Minister, announced
excise duty cuts for the auto sector in the interim Budget.
Yet, to the surprise of most manufacturers, customers are just
not biting the bait.“We are puzzled and have no idea why this
is happening. Our only guess is that it is a matter of
sentiment and people may start buying vehicles when the new
Government is in place next month,” a top auto CEO
said.
|
| SEBI |
| IHCL seeks Sebi nod to raise Rs 1,000
cr via debentures |
Maharashtra : Tata group
hospitality major, Indian Hotels Company Ltd (IHCL), has
sought market regulator Sebi's approval to raise Rs 1,000
crore through issue of debentures on rights basis. As per the
draft offer document filed by IHCL with Sebi, the company is
planning to issue 'compulsorily convertible debentures (CCDs)'
for an amount "not exceeding Rs 1,000 crore on a rights basis
to the eligible equity shareholders of the
company...".
|
| COMPANY
LAW |
| Jewellers wary of new gold schemes
under Companies law |
Tamil Nadu : Jewellers
across India are in a spot of bother after the new Companies
Act and allied rules came into force this month, impacting
popular gold schemes that gave them access to capital. Some
jewellers, such as Tata's Tanishq, have stopped enrolments to
new schemes until they get a better understanding of the
provisions in the new law, while others are continuing with
plans that don't extend beyond a year.
|
| Finance & Money
Markets |
| Illiquid stocks suddenly show signs
of revival as D-street looks for more |
Maharashtra : Himalya
International Integra Engineering India and Bihar Sponge Iron
are names that may not ring a bell with many traders and
investors who started after 2008.These are stocks that haven't
been in the limelight for years together after their
spectacular show at the peak of the bull-run in 2007, but have
shown signs of revival in momentum of late as the Sensex hits
all-time high almost daily.
|
| Quality low-beta stocks such as BPCL,
ONGC, PNB and ACC become more
volatile |
Delhi : The stock market
rally has seen the emergence of new high-beta stocks, or
stocks with high volatility. Beta indicates how much a stock
will move if the benchmark index moves 1%. Theoretically, a
beta greater than one indicates a high-beta stock and lower
than one, a low-beta stock.An ETIG analysis of Nifty stocks
shows there has been considerable change in the composition of
high-beta stocks that drove the rally.
|
| MFs jive to the turnaround beat on
D-Street |
Delhi : After cherry-picking
cyclical stocks, fund managers are after turnaround stories. A
study of stock transactions by the nation's top 10 mutual fund
houses by assets under management (AUM) in March shows they
bought into companies which have taken steps in recent months
to deal with operational challenges. Ashok Leyland Shriram
Transport Finance, Bharat ForgeBSE -2.52 %, Crompton Greaves
and Engineers India were among the stocks that they have added
in the past month.
|
| UCX promoter Commex Technology may
dilute stake |
Maharashtra : Commex
Technology, the promoter of Universal Commodity Exchange
(UCX), is seeking to dilute its stake in the country's newest
bourse within a year of the exchange becoming operational, two
persons aware of the development told ET. The development
arguably underscores the difficulty of an anchor investor in
enabling a new bourse to gain traction in the decade-old
market dominated by two entrenched players - metals and energy
bourse MCX and agri futures exchange NCDEX.
|
| INTERNATIONAL
BUSINESS |
| GE said in talks to buy France’s
Alstom for about $13 billion |
(GE) is in talks to buy Alstom SA, the
French builder of trains and power plants, people with
knowledge of the matter said, in what would be GE’s biggest
acquisition ever.An agreement may be announced as early as
next week, said the people, who asked not to be identified
because the talks are private. The US company may pay more
than $13 billion for Alstom, one of the people said. That
would be about 25% more than Alstom’s current market
value.
|
| Apple’s net climbs, but shows
slowdown |
Apple’s remarkable growth streak — now
more than a decade old — is starting to fade a little. Apple
reported on Wednesday that its revenue for the last quarter
climbed 5%, to $45.6 billion, from $43.6 billion in the same
period the year earlier. The company’s earnings were up about
7%, to $10.2 billion, from $9.5 billion in the same quarter a
year ago.Although the results beat expectations, the company’s
rate of profit and revenue growth has slowed considerably in
recent quarters.
|
| Pension/Provident
Fund |
| NPS doors opened for people above 60
taking up govt jobs |
Delhi : The Pension Fund
Regulatory and Development Authority (PFRDA) on Thursday
relaxed rules to allow employees taking up government jobs
after 60 years of age to enrol with the National Pension
System (NPS).The new rule will allow many retired bureaucrats
and private technocrats taking up high-profile jobs in
government and regulatory bodies to become part of NPS, a
PFRDA official told FE.
|
| Reminders |
| Tenders |
| Andhra Pradesh Medical Services And
Infrastructure Development
Corporation 26/04/2014
|
| North Eastern Regional Agricultural Marketing
Corporation Ltd 28/04/2014
|
| Vallabhbhai Patel Chest
Institute 28/04/2014
|
| Department Of Information
Technology 29/04/2014
|
| Zilla Panchayat - Bijapur
Chhattisgarh 30/04/2014
|
| Hindustan Copper
Limited 30/04/2014
|
| Singhbhum District Central Co-Operative Bank
Limited 30/04/2014
|
| Housing And Urban Development Corporation
Limited 01/05/2014
|
|
| Notifications
& Circulars |
| RBI |
| Notification No.
RBI/2013-14/571 (Delhi) 23/04/2014
|
| Uniform Accounting Standards at ARCs |
|
|
 |
| Economy |
| India |
| Govt sticks to Rangarajan formula on CBM
price |
| New govt will have hands tied in growth
push |
| Major ports see 22% jump in thermal coal cargo in
2013-14 |
| Garment exports grow 15.4% in FY14, still miss
target |
| FinMin invites industry, trade suggestions for
Budget |
| Met expects monsoon to be sub-normal this
year |
| India slips to 83rd spot on leveraging ICT for
growth: WEF |
| Government plans revival of slew of
infrastructure projects: Roshan Baig |
| Indian American Biz Leaders to Discuss Bilateral
Ties |
|
| International |
| Obama rubbishes talks Japan trade deal is in
danger |
| Applications for US unemployment benefits rise to
329,000 |
| Strong durable goods orders buoy growth
outlook |
| Vladmir Putin says sanctions hurt Russian
economy, but not critically |
|
| Markets
Today |
| NSE |
6,782.75
|
|
| BSE |
22,688.07
|
|
| NASDAQ |
4,148.34
|
|
|
|
|
| USD |
60.82
|
|
| EURO |
84.03
|
|
| JPY(100) |
59.41
|
|
| GBP |
102.10
|
|
|
|
| Corporate
Watch |
| Mobile operators dial migrants to power
money transfer |
Maharashtra : Money transfer
through mobile phones is slowly becoming popular with the
country's top two operators — Bharti Airtel and Vodafone —
together having notched up more than 2 million subscribers.
Business is slowly gaining traction, say industry watchers,
with the subscriber base growing at close to 15% growth
month-on-month.
|
| Nokia to Exclude India Phone Plant From
Microsoft Deal |
Delhi : Nokia Oyj (NOK1V) will
exclude its India phone factory from a 5.44 billion-euro ($7.5
billion) agreement to sell its mobile phone business to
Microsoft Corp. (MSFT:US) amid a legal battle over a tax
dispute in the country. “We are leaving out the plant because
of the tax issues,” Poonam Kaul, a Nokia India spokeswoman,
said by telephone today.
|
| Amazon in apparel
biz |
Maharashtra : World’s biggest
online retailer Amazon on Thursday said it was entering the
apparel segment in the country, dominated by portals such as
Myntra and Jabong, with the launch of ethnic and Indo-western
styles for women. Already the largest e-commerce portal in the
country by products offered, Amazon will offer 12,000 styles
from 90 brands, including private labels and national &
regional retailers. Besides, it has also launched a sunglasses
store with 2,800 styles.
|
| Carmakers such as Maruti, Hyundai, Tata,
Toyota, Ford, GM & Mercedes put brakes on price hikes
despite margin pressures |
Delhi : For Indian carmakers,
profiteering has taken a backseat this time. After announcing
price increases from April, most companies such as Maruti
Suzuki, Hyundai, Tata Motors, Toyota Kirloskar, Ford Motors,
General Motors & Mercedes Benz are holding on to their old
prices to avoid any market backlash expected due to a weak
demand and falling sales.
|
|
| NBFC
CORNER |
A single window for auditors of non-banking
finance companies |
|
| Announcements |
Professional Development Committee is
organising live Webcast on "Clarification of MEF issues &
Recent Development/Initiative of Professional Development
Committee" on 2nd May, 2014 at 2 P.M. onwards.  |
|
| Tenders
& Assignment |
| Department Of Health Services - Lakshadweep
|
Description :Expressions of
Interest are invited from Chartered Accountant firms to
conduct the statutory audit of the AIDS Control Society for
the year 2013-14.
Last Date :
05/05/2014
Address :Lakshadweep -
Lakshadweep
|
| Punjab Land Records Society |
Description :From the
reputed firms/ Chartered Accountants having more than 10 years
experience to act as Central Auditor.
Last
Date : 06/05/2014
Address
:Punjab Land Records Society,Kapurthala
Road,Jalandhar,
Phone :0181-207018
|
| Haryana State Horticulture Development
Agency |
Description :Providing of
Chartered Accountant for preparing of Audit & Balance
Sheet.
Last Date : 09/05/2014
Address :Haryana State Horticulture
Development Agency Panchkula Haryana
Phone
:0172-2582322
E-Mail :hortharyana@gmail.com
|
| India Trade Promotion Organisation |
Description :Engage A Firm
Of Chartered Accountants For Undertaking The Audit Of Annual
Accounts For Year 2013-14, Filing Income Tax Return For
Assessment Year 2014-15 For Audit Of Itpo Ecpf Trust And Itpo
Gratuity Trust.
Last Date :
09/05/2014
Address :( Gajraj Singh
)Sr. Manager (Fin.)
Room No. 234,ITPO, Pragati
Bhawan,
Pragati Maidan, New Delhi – 110001
|
|
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