| Professional
News |
| Misc. - Direct
Tax |
| BPOs Seek Tax Sops,Grants as Tough
Market Takes a Toll |
Maharashtra : Business
process outsourcing companies will present the new government
with a wishlist of concessions they say are required for the
industry to overcome troubles in the domestic market. Among
the items on their agenda are grants to compensate them for
the training and jobs they offer in tier-II and -III towns and
subsidised rates for electricity and land. These measures,
they say, will help them expand locally and make wages more
affordable.
|
| SEBI |
| Sebi frowns on plan to extend trading
time on poll result day |
Maharashtra : Capital market
regulator Securities and Exchange Board of India is not in
favour of tinkering with the trade timing on May 16, the day
the result of the Lok Sabha elections will be announced.The
thinking within Sebi is extending market hours — an
unprecedented move — will only aid speculators and be of
little help to small investors, people with direct knowledge
of the development say.
|
| FDI
Policy |
| FinMin allays fears of US stimulus
withdrawal impact on FDI |
Delhi : Allaying fears that
the withdrawal of fiscal stimulus programme in the US will
impact foreign investments into India, a Finance Ministry
report has said the country is an attractive destination on
its own and has remained the third most preferred nation for
FDI since 2010."Notable liberalisations in FDI policy and in
several sectors, a globally competitive workforce, a rapid GDP
growth rate and rapidly growing market are the main drivers of
foreign investment in India.
|
| Misc. Corporate Laws
& Other Commercial Policies |
| India Inc has no reason to fear a cap
on royalty payout |
Delhi : India Inc may not be
impacted significantly if the Centre decides to bring back the
cap on royalty payments to foreign companies. Until 2009,
royalty for technical collaboration was capped at 5 per cent
of domestic sales or 8 per cent of exports. For use of brand
names, it was limited to one per cent of domestic sales and
two per cent of exports.A few companies used the relaxation
post 2009 to peg up their payments, but most listed players
saw only a slight change to their royalty-to-sales ratio, even
though the quantum of payments jumped.
|
| Finance & Money
Markets |
| Government clears new rule on commex
shareholding, rule abolishes anchor investor
concept |
Maharashtra : The government
has cleared the most significant regulation to emerge from the
2013 commodity market scam that rattled thousands of
investors, raised new questions on propriety and ownership,
and triggered multiple probes and court feuds.Only entities
like banks, financial institutions, stock exchanges,
depositories and commodity bourses that are regulated by
financial market regulators will now be allowed to hold up to
15% in a commodity futures exchange.
|
| Deloitte may not challenge PwC’s MCX
audit |
Maharashtra : Deloitte, the
statutory auditor for MCX, said it's not perturbed by critical
observations about the exchange in a forensic audit by PwC
because the two auditing exercises are by definition
fundamentally different. "Clearly, what PwC did was as a
forensic auditor. They are doing their job and we, ours," said
a Deloitte spokesperson.
|
| Dividend growth nearly halved in
2013-14 |
Maharashtra : The current
rally in Dalal Street has not translated into bigger dividend
income for shareholders. Dividend outgo by India's top
companies nearly halved in 2013-14 to 16 per cent from 30 per
cent the year before, growing at its slowest pace in the past
five years. For Nifty companies, which have announced
dividends for FY14, the outgo is up 17 per cent this year,
down from 27 per cent growth in the past year. The numbers
would have been worse if not for information technology (IT)
majors, which stepped up payouts this year in line with the
rise in their profits. These were helped by select private
sector banks such as HDFC and YES.
|
| INTERNATIONAL
BUSINESS |
| Buffett defends Coke, BNSF at
Berkshire meeting |
Warren Buffett on Saturday defended his
recent controversial vote on executive pay at Coca-Cola and
disappointing performance at railroad BNSF, as investors
grilled him on his Berkshire Hathaway conglomerate at its
annual shareholder meeting.The investment guru was peppered
with questions at the meeting, part of a mostly festive
weekend that Buffett calls “Woodstock for Capitalists”,
following concerns that Berkshire last year missed Buffett's
five-year growth target for the first time in his 49 years at
the helm.
|
| MERGER &
ACQUISITION - NATIONAL |
| Infosys may eye acquisitions in
Nordic countries, says president BG
Srinivas |
Karnataka : Infosys
president BG Srinivas is highlighting growth and opportunities
in Europe, a region he used to head, while the company
searches within and outside for its first nonfounder chief
executive.Srinivas, who was made one of the two presidents of
Infosys in January with responsibility for most client-facing
functions, was especially bullish about Nordic countries where
he said the company may look at acquisition
targets.
|
|
 |
| Economy |
| India |
| Land prices likely to zoom 20% in
Noida |
| Steel makers defer price rise in
May |
| For India Inc, it is a long road to turn the
corner AS rising debt, thrifty consumers squeeze
profits |
| Margins at FMCG companies hit 6-yr high despite
flagging demand |
| Indian FM Urges ADB To Double Annual Lending
Capacity To US$20 Billion |
| Blooming same-store sales of Shoppers Stop,
Lifestyle, Reliance lift gloom on retail
front |
| Road, Power Ministries differ on new fuel
efficiency norms |
| Average growth in 12th Plan period likely to be
below 6% |
| Soaring production at RSP in first month of
current fiscal |
| India must focus on infrastructure investments to
revive growth: P Chidambaram |
|
| International |
| China admits ‘growing pains’ in Africa
relations |
| EU or Russia? An economic dilemma for
Transdniestr |
| China Manufacturing Gauge Signals Risk of Deeper
Slowdown |
|
| Markets
Today |
| NSE |
6,699.35
|
|
| BSE |
22,445.12
|
|
| NASDAQ |
4,123.90
|
|
|
|
|
| USD |
60.17
|
|
| EURO |
83.47
|
|
| JPY(100) |
58.99
|
|
| GBP |
101.50
|
|
|
|
| Corporate
Watch |
| ONGC’s cash reserves deplete 24% in FY14,
investments to be hit |
Delhi : In line with the trend of
the last few years, ONGC’s cash reserves depleted by another
24% to around Rs 10,000 crore by the end of FY14 from the
level a year ago, sources privy to the matter said. This was
even as the state-run firm squeezed capital spending for the
year by about 15% from the planned Rs 35,000 crore and just Rs
3,200 crore from the reserves were used for
exploration/production expenditure.
|
| Helion Venture Partners invests Rs 27 crore
in dental care firm Denty’s |
Karnataka : Helion Venture
Partners, a $605-million (Rs 3,640-crore) venture fund, has
invested Rs 27 crore in multi-specialty dental care chain
Denty's, as demand for quality patient care increases rapidly
in India. Denty's which has 10 clinics in Andhra Pradesh and
Tamil Nadu, will use the funds to increase the number of
centres to 150 across the country in next five
years.
|
| Fan merchandiser Bluegape.com in talks to
raise Rs 60 crore |
Delhi : Fan merchandise retailer
Bluegape.com is in talks to raise a fresh round of funding,
estimated at about $10 million (Rs 60.2 crore), as the
Delhi-based venture looks to expand its presence in
traditional retail formats and build on its technology. A
fresh equity capital infusion, if successful, will come barely
six months after Bluegape.
|
| Essar Steel to merge unit with
Hypermarket |
Delhi : Essar Steel is in the
process of merging its Steel processing centre and
distribution unit with Essar Hypermart, its retail chain for
steel, with a view to cut costs, expand business reach and
deliver products to customers faster. The new entity's
distribution model will expand the retail chain's offering to
customised steel from just standard steel plates
earlier.
|
| NBFC
CORNER |
A single window for auditors of non-banking
finance companies |
|
| Tenders
& Assignment |
| Nizams Institute Of Medical Science |
Description :Expression of
Interest for Chartered Accountant firms for Conducting the
Audit of Transaction to the NIMS Pharmacy.
Last Date : 12/05/2014
Address :Multi Location - Multi State
|
| Jharkhand State Rural Road Development
Authority |
Description :Expression of
interest from firms of chartered accountant for internal audit
of JSRRDA.
Last Date : 20/05/2014
Address :Jharkhand State Rural Road
Development Authority,F.F.P Building 2nd
Floor,Dhurwa,Ranchi-834004
|
| National Highway Authority Of India |
Description :Engagement of
Chartered Accountants firm as Internal Audit for its head
office.
Last Date : 29/05/2014
Address :National Highways Authority
of India, G-5& 6, Sector-10, Dwarka, New Delhi-75
|
|
| Reminders |
| Tenders |
| Punjab Land Records
Society 06/05/2014
|
| National Institute Of Fashion
Technology 06/05/2014
|
| India Trade Promotion
Organisation 09/05/2014
|
| Haryana State Horticulture Development
Agency 09/05/2014
|
| Uttar Pradesh Co-operative Bank
Limited 09/05/2014
|
| State Bank Of
Mysore 10/05/2014
|
| Govt Of India Ministry Of Corporate Affairs
Office Of The Official Liquidator High Court Of
Delhi 12/05/2014
|
|
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