| Professional
News |
| EXCISE |
| Ministry wants excise relief for auto
sector to continue |
|
Delhi : The Heavy Industries
Ministry will press for continuation of excise relief for the
auto sector in the full Budget, which is likely to be
presented in July by the new Government. The existing relief
will end on June 30. “Excise cut announced in the Interim
Budget is yet to give the desired result. This necessitates
duty relief to continue,” a senior Heavy Industries Ministry
official told Business Line .
|
| SEBI |
| Under new norms, Sebi proposes to
make delisting easier |
|
Maharashtra : The Securities
and Exchange Board of India (Sebi) on Friday proposed new
delisting norms, including reduced time-frame and more broader
price discovery mechanism, with a view to making it easier for
promoters to delist their companies from stock exchanges.
Sebi’s latest discussion paper on the matter comes against the
backdrop of concerns raised by various entities about the
existing delisting process, which, at times, is also seen as
time consuming.
|
| RBI |
| RBI puts curbs on Re-loan refinancing
via ECB route |
|
Maharashtra : The Reserve
Bank of India (RBI) on Friday barred Indian companies from
raising money from subsidiaries of Indian banks overseas
through external commercial borrowings (ECBs) to refinance
rupee loans. “It has been decided that eligible Indian
companies will not be permitted to raise ECB from overseas
branches or subsidiaries of Indian banks for the purpose of
refinance/repayment of the rupee loans raised from the
domestic banking system,” the central bank said in a
notification.
|
| Finance & Money
Markets |
| Re hovers close to one-month high;
RBI brakes rally |
|
Maharashtra : The rupee
gained for a second consecutive session on Friday to a near
one-month high, sparking suspected central bank intervention
after shares surged to a record high on hopes the BJP will win
a majority in elections ending next week.Several dealers said
the Reserve Bank of India was spotted buying dollars
throughout the day to prevent the rupee from strengthening
excessively above 60 to the dollar.Traders expect the rupee to
continue to hold in a tight 59.80 to 60.20 per dollar on
Monday ahead of exit polls due to be released after 6.30
pm.
|
| Bank Nifty hits record high; up 3% at
13,469 |
|
Maharashtra : Banking shares
which are a favourites of foreign institutional investors have
seen a sudden surge in today's trade with the National Stock
Exchange (NSE) bank share index Bank Nifty hitting a record
intra-day high of 13,470 so far.Foreign institutional
investors (FIIs) have been aggressively buying into ICICI
Bank; their holdings in the leading private sector lender
touched a six-year high of 39.85 per cent in the quarter ended
March.Banks which are a proxy to the economy seem to garner
|
| Forex reserves increase by $1.94
billion to $311.9 billion |
|
Maharashtra : The country's
foreign exchange reserves rose by $1.944 billion to $311.857
billion in the week ended May 2 on higher currency assets.
Last week, the total reserves rose by $499.8 million to
$309.913 billion. Foreign currency assets (FCAs), a major part
of the overall reserves, surged $2.541 billion to $284.571
billion during the period, the RBI said. FCAs, expressed in
dollar terms, include the effect of appreciation/depreciation
of the non-US currencies such as the euro, pound and yen held
in its reserves.
|
| Bank stocks most wanted amid great
expectations from Narendra Modi |
|
Maharashtra : Banking shares
were in demand and the biggest beneficiaries on Friday as
foreign institutional investor (FII) buying gathered pace for
the 14th consecutive session. Scrips of lenders advanced in
the range of 3-10%, lifting the gauge of banking shares to a
new record high on Friday.CNX Bank Nifty rose 5.5% on Friday,
led by private sector lenders such as ICICI Bank, HDFC Bank,
Yes Bank and Axis Bank. All 12 banking stocks that constitute
the Bank Nifty ended higher.
|
| Commodities |
| Wheat Exports From India Seen Heading
for Record as Futures Rise |
|
Delhi : Wheat shipments from
India, the world’s second-biggest grower, may climb to an
all-time high as U.S. prices rally because of drought and on
concern Black Sea supplies will be disrupted, according to an
industry adviser. Sales may reach 8 million metric tons to 10
million tons in the 12 months started April 1, said Tejinder
Narang, who was a director at PEC Ltd., a state-run trading
company, for about 16 years through 2008.
|
| Tata Steel Estimates Auto-Grade Alloy
Sales Rose 15% Last Year |
|
Maharashtra : Tata Steel
Ltd. (TATA), the biggest Indian producer, estimates sales of
the alloy grade used in vehicles rose 15 percent in the year
ended March. The shares rose.“Tata Steel’s automotive sales
could register a growth of 15 percent in financial year 2014
over 2013, primarily by replacing imports and weaning away
share from competition,” Vice President Peeyush Gupta said in
a newsletter posted on the company’s website. India’s
vehicular demand may gain as much as 4 percent this year and
the country’s alloy consumption may climb 5 percent, he
said.
|
| Gold recovers on marriage season
demand; silver remains weak |
|
Delhi : Gold prices
recovered by Rs80 to Rs30,480 per 10 grams in Delhi bullion
market on Friday on increased demand from stockists and
retailers, driven by ongoing wedding season. However, silver
remained under pressure and lost another Rs230 to Rs41,770 per
kg on reduced offtake by industrial units and coin
makers.Traders attributed the rise in gold prices to increased
buying by stockists and retailers to meet the wedding season
demand.
|
| Tenders
& Assignment |
Aids Control Society - New Delhi  |
|
Description :Engaging of
Chartered Accountancy Firms for Internal Audit of Regional Hub
(2) consisting 6 States/Uts Arunachal Pradesh, Assam, Mizoram,
Nagaland, Manipur & Meghalaya AND Regional Hub (7)
consisting 4 States/Uts, Tamilnadu, Puducherry & Andaman
& Nicobar.
Last Date : 06/06/2014
Address :Department of AIDS Control
Ministry of Health & Family Welfare 6th & 9th Floor,
Chanderlok Building, 36, Janpath, New Delhi -110001
Phone :011-43509953
|
| Maharashtra Prathamik Shikshan
Parishad |
Description :Request for
Proposal from Chartered accountant firms. Last
Date : 06/06/2014 Address
:Maharashtra Prathamik Shikshan Parishad,Jawahar Bal
Bhavan,Netaji Subhash marg,Charni Road,Mumbai-400004.
Phone :091 022 236 36 314,236 79 267
E-Mail :mpspmah@gmail.com
|
| |
| Reminders |
| Tenders |
| Govt Of India Ministry Of Corporate Affairs
Office Of The Official Liquidator High Court Of
Delhi 12/05/2014
|
| Nizams Institute Of Medical
Science 12/05/2014
|
| Kerala State Civil Supplies Corporation
Limited 15/05/2014
|
| Rajasthan Housing
Board 15/05/2014
|
| District Co.operative Bank Limited - Pilibhit
Uttar Pradesh 15/05/2014
|
| Central Institute Of
Technology 15/05/2014
|
| Department Of Medical Health And Family Welfare -
Dehradun Uttaranchal 16/05/2014
|
| Cantonment Board 17/05/2014
|
| Indian Institute Of
Management 17/05/2014
|
| |
|
 |
| Economy |
| India |
| April exports post 5.26% growth |
| UV sales take poll position; back in black after
5 months on new launches |
| Global food prices drop 1.6% in
April |
| Euro-IV petrol, diesel in 50 more cities by March
2015 |
| Handloom sector’s negative growth worrying, says
official |
| EU firms largest foreign investor group in
India |
| |
| International |
| Easing China inflation seen opening door for more
support steps |
| UK factory output grows at fastest quarterly pace
since 2010 |
| China's auto sales rebound in April, rising 11.6
per cent as restrictions spur purchases |
| |
| Corporate
Watch |
| USL okays Whyte & Mackay sale to
Emperador |
|
Karnataka : United Spirits (USL) on
Friday said it has approved the sale of its UK subsidiary
Whyte & Mackay (W&M) to the Philppines-based Emperador
for 430 million pounds (about $727 million). The sale process,
which saw several suitors including a former chairman of the
scotch-maker, in January started addressing competition
concerns arising from Diageo's acquisition of a 28.78% stake
in USL.
|
| Fortis Healthcare plans to add 500 beds
every year |
|
Tamil Nadu : To leverage the
domestic healthcare market, hospital chain Fortis Healthcare
is planning to expand in the Indian market in a big way by
adding 500-600 beds per year to its portfolio. The expansion
will be primarily at its existing facilities spread across the
country. The healthcare company also said it would not have
any major expansion in its overseas facilities.
|
| Ranbaxy net loss at Rs 74 cr on 2-fold rise
in finance cost |
|
Maharashtra : Ranbaxy Laboratories,
being acquired by Sun Pharmaceuticals in a $4-billion
transaction, reported a net loss of R73.65 crore in the
January-March quarter, as finance costs almost doubled y-o-y
to R113.57 crore.The company also had to write down its
inventory of R42.4 crore at the Dewas' active pharmaceutical
ingredient (API) manufacturing facility due to a temporary
halt of operations called to examine manufacturing and quality
process controls, in January 2014.
|
| NBFC
CORNER |
| A single window for auditors of non-banking
finance companies |
| |
| Tenders
& Assignment |
| Haryana Forest Development Corporation
Limited |
|
Description :Engaging the
services of professional Chartered Accountants firm or
individual as Internal Auditors for the financial year 2014-15
Last Date : 19/05/2014
Address :Haryana Forest Development
Corporation Limited,Bays No.27-28,Sector-4,Panchkula-134112
Phone :0172-252307
|
| Orissa Tribal Empowerment And Livelihoods
Programme |
Description :Competent firm
of chartered accountants for conducting a special audit in 10
numbers of villages development committee and 25 numbers of
village level subcommittee since FY 2009-10 to 2013-14.
Last Date : 20/05/2014
Address :Integrated Tribal
Development Agency,Gunupur ST & SC Development
Department,Govt.of Odisha Phone
:06857-250934 E-Mail :itda.gunupur@otelp.org
|
| Housing And Urban Development Corporation
Limited |
|
Description :Appointment of
Chartered accountants
Last Date :
21/05/2014
Address :The Regional
Chief HUDCO,Unit No.703 & 704 North Block Manipal Centre
No.47,Dickenson Road Bangalore-560042
|
| Gujarat Livelihood Promotion Company
Limited |
|
Description :Expression of
Interest for internal audit of the National Rural Livelihoods
Mission for FY 2014-15.
Last Date :
21/05/2014
Address :The Managing
Director Gujarat Livelihood Promotion Company 3rd Floor, Block
No. 18, Udyog Bhavan, Gandhinagar, Gujarat - 382011.
Phone :+91 79 2324 8512 - 13 - 14,
|
| Maharashtra State Rural Livelihoods
Mission |
Description :Expression of
interest for Internal Audit. Last Date
: 23/05/2014 Address
:Maharashtra State Rural Livelihoods Mission
(MSRLM)Office No. 101 & 102, Monarch Plaza, Plot No.
56,Sector 11, Belapur, Navi Mumbai, Maharashtra, India. Pin
Code : 400614 Phone :(+91)
022-27562554/52 E-Mail :procurement.msrlm@gmail.com
|
| Watershed Development Department |
Description :Hire The
Services Of A Qualified Chartered Accountant Firm For
Providing Financial Management And Technical Support
Consultancy (FMTSC) Services To The Project For A Period Of
Five (5) Years At WDD Covering HO And 7 Districts.
Last Date : 24/05/2014
Address :Watershed Development
Department,7th Floor, KHB Complex, Cauvery Bhawan, KG Road,
Bangalore 560009 Phone :080-22100661
E-Mail :sujala3@gmail.com
|
| Watershed Development Department |
Description :Hire The
Services Of A Qualified Chartered Accountant Firm For
Providing Financial Review (Audit) Consultant (FRC) Services
To The Project. Last Date :
26/05/2014 Address :Watershed
Development Department,7th Floor, KHB Complex, Cauvery Bhawan,
KG Road, Bangalore 560009 Phone
:080-22100661 E-Mail :sujala3@gmail.com
|
| Ministry Of Urban Development - New Delhi
Delhi |
Description :Expression of
interest for appointment of internal auditors.
Last Date : 26/05/2014
Address :Ministry Of Urban
Development,Room No.407,C,Nirman Bhawan,Maulana Azad Road,New
Delhi-110011 Phone :91--11-2306 2264
E-Mail :pankaj.kumar75@nic.in
|
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