Trade4target : Black money study report is accepted by Finance Ministry

Trade4target : Daily News 22/10/2014

Central Govt.:The Finance Ministry is  accept two of the three reports submitted to it on the assessment of black money in India and abroad which were commissioned by the UPA government three years ago.

The studies were conducted by the Delhi-based National Institute of Public Finance and Policy  and National Council of Applied Economic Research  and National Institute of Financial Management  at Faridabad.

Report from one institute has been received and accepted and reports from the remaining two institutes have been received but yet to be accepted by the government so far, the Finance Ministry said in reply to an RTI query.

It, however, declined to share the contents of the reports citing the exemption clause under the transparency law.

Further details cannot be made available at this point of time as the information is exempt under Section 8(1)(c) and Section 8(1)(e) of RTI Act, 2005, since the report is yet to be examined by the government or action taken thereof is yet to be laid before Parliament, the ministry said.

Section 8(1 )(e) bars disclosure of information which would cause a breach of privilege of Parliament. The other clause exempts disclosure of "information available to a person in his fiduciary relationship, unless the competent authority is satisfied that the larger public interest warrants the disclosure of such information".
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Trade4Target : Daily Update 21/10/2014

Trade4Target :

Govt hikes natural gas price by 33.33 per cent to USD 5.61 per unit

The government on Saturday approved raising natural gas price to US $5.61 per million British thermal units  from November 1 but Reliance Industries  will continue to get the current US $4.2 rate till it makes up for shortfall in output from KG-D6 block.

The Cabinet modified the Rangarajan formula approved by previous UPA government to bring down the increase in natural gas rates from US $8.4 to US $5.61, Finance Minister Arun Jaitley said.

The new formula will be effective Nov 1 and rates will be revised every six months with the next revision being on April 1.

For RIL's flagging D1&D3 gas fields in KG-D6 block where output should have been 80 million standard cubic feet per day  but is languishing at less than 8 mmscmd, the Cabinet decided the current rates will continue to apply.

Consumers will, however, pay the revised increased price but RIL will get only US $4.2 with the difference being deposited in an escrow account.

RIL will get the higher rates if it is legally able to prove that it did not deliberately cut production and output fall was a result of geological reasons as it claims.

Higher gas prices would increase the expense of running power stations and fertilizer plants, raising infrastructure and food costs and accelerating the rate of inflation.

Every dollar increase in gas price will lead to a Rs 1,370 per tonne rise in urea production cost and a 45 paise per unit increase in electricity tariff (for just the 7 per cent of the nation's power generation capacity based on gas).

Also, there would be a minimum Rs 2.81 per kg increase in the price of compressed natural gas (CNG) and a Rs 1.89 per standard cubic metre hike in piped cooking gas.

3 per cent post smart earnings by Hero MotoCorp shares

Trade4target : Daily News 20/10/2014

Stocks of Hero MotoCorp on Friday rose by over 3 per cent after it reported 58.62 per cent increase in its net profit for the second quarter ended September 30.

Shares of the country's largest two-wheeler maker went up by 3.05 per cent to Rs 2,877.10 on the Bombay Stock Exchange. In intra-day, it gained 4.19 per cent to Rs 2,909.

At the NSE, the scrip rose by 2.30 per cent to end at Rs 2,863.45.

Hero Motocorp's Q2 FY15 results were ahead of our estimates mainly due to higher other income even as the operating performance was in-line, said Bharat Gianani, Research Analyst, Automobile, Angel Broking.

Hero MotoCorp on Thursday reported 58.62 per cent increase in its net profit at Rs 763 crore for the second quarter ended September 30 riding high on robust sales.

The company had posted a net profit of Rs 481 crore during the same period of previous fiscal.

Trade4Target : Increasing Campus Hiring in Tata Consultancy Services

Trade4Target : Daily News 19/10/2014

One of the software company in Indaia, Exuding bullish sentiment Tata Consultancy Services, on Friday said it would offer 35,000 jobs for freshers at campuses in 2015-16, 10,000 more than the IT major offered in the current fiscal.

The Tata-group company also said that it is likely to overshoot its overall stated target of hiring 55,000 professionals, including lateral ones, during the ongoing 2014-15 fiscal.

We will be overshooting that 55,000 number but at the moment we are not looking at what that final number is going to be. We will be doing 35,000 campus offers next fiscal, TCS Executive Vice President and Global Head for Human Resources Ajoy Mukherjee told PTI IN Mumbai.

The process has already been set rolling and the company is visiting campuses, he added.

Of the 25,000 offers made for FY15, Mukherjee said he expects around 71-72 per cent freshers to actually join the company.

The overall need of what we require for the next year and planning our head-counts from that point, campus recruitment is one of the things we have to do,adding that the overall hiring number for the next fiscal , including the lateral ones, will be decided in February, 2015.

After declaring a 13.2 per cent growth for the July- September quarter profit at Rs 5,244 crore, TCS Chief Executive and Managing Director N Chandrasekaran had said that he is bullish about the 2015-16 fiscal.

Trade4Target :

India is first markets among in the world where Abbott launches its products

India is one of the top 5 countries with respect to sales contribution for Abbott. India’s turnover contribution is at USD 900 million

Trade4target : Daily news 18/10/2014

Trade4Target : Stock market cautious remains on weak global cues

During the week (monday to friday), the markets initially saw range-bound trading but witnessed a sharp fall just before it closed on Thursday on weak global cues. The BSE Sensex slipped 350 points on October 16 to close at 25,999 on Trade4Target. Even on Friday it opened weak and was trading in the negative on Trade4target.


It was around noon it made some recovery and managed to close with an addition of close to 109 points during the day and closed the week at 26,108. The BSE had only four trading sessions on account of the state assembly elections in Maharashtra on Wednesday.

Indian Markets will reopen on 20 Oct 2014

BSE :    26,108.53
NSE :    7,779.70

Top Gainers     BSE                                                                               
BHEL             226.55       +3.40%   
HEROMOTOCO     2877.10     +3.04%      
MAH&MAH     1253.95     +2.88%   
ICICI BANK     1505.60     +2.86%

Indian markets closed on Wednesday

Trade4Target : Daily Update 15/10/2014

Oct 15 - Indian markets are closed on Wednesday due to assembly elections in Maharashtra state. The benchmark BSE index fell 0.13 percent, or 34.74 points, to end at 26,349.33 on Tuesday. The broader NSE index lost 0.26 percent, or 20.25 points, to at 7,864.Stock exchanges will reopen tommorow on 16 Oct 2014.

The 30-share BSE barometer on Tuesday opened in positive terrain at 26,537.42. It improved further to touch an intra-day high of 26,550.79 tracking robust earnings by RIL and easing retail inflation, data for which was released on Monday after trading hours.

The broader 50-issue National Stock Exchange (NSE) Nifty settled 20.25 points (or 0.26 per cent) lower at 7,864.00, after shuttling between 7,928 and 7,825.45 on alternate bouts of buying and selling.

Trade4Target

BSE 26,349.33  -34.74 (-0.13%)
NSE 7,864.00   -20.25 (-0.26%)

US$ : Rs.61.42

SBI customer enjoy unlimited ATM transactions

New Delhi: The nation's largest lender State Bank of India (SBI) has good news for customers who maintain over Rs 25,000 balance.

SBI will offer unlimited ATM transactions on its home ATM for customers who maintain this balance in their account in a month on an average. While for customers having a balance less than Rs 25,000 SBI will allow only four-time usage on its home ATM while for third-party ATM the usage has been restricted to three, as per a financial daily report.