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1. PGC NEWSLETTER 1
PGC NEWSLETTER 1st September, 2014
THOUGHT OF THE DAY “An attitude of positive expectation is the mark of the superior personality.” ECONOMICS NEWS
 Nifty breaches 8,000-mark for first time; Sensex hits new peak: Continuing their record setting spree, the NSE Nifty breached the 8,000-mark for the first time ever and BSE Sensex logged a new peak of 26,812.69 in opening trade on Monday on the back of positive economic growth data for the April-June quarter.
 Power Grid Corporation of India looks to raise Rs 5,000 crore via bond auction. CORPORATE LAW UPDATES
 UltraTech completes acquisition of cement units of Jaypee Cement. and became effective from June 12, 2014.the demerger implementation committee at its meeting held on August 28, allotted 27,261 equity shares of the company as fully paid-up to shareholders of JCCL being the additional shares in terms of the scheme.
 The Securities and Exchange Board of India (Sebi) plans to make it mandatory for issuers to reserve 25% of an initial public offering (IPO) for domestic mutual funds and insurers. But if they don't subscribe to their portion fully, the IPO could be considered a failure, said investment bankers briefed on the matter
RBI / TAX LAW UPDATES
 CBDT vide its order has extended the due date for e-filling of Tax Audit Report to 30.11.2014 for AY-2014-15 from 30.09.2014 but it has not mentioned about due date of e-filling of Income Tax return (ITR), which creates lots of confusion among assesses.
 New Indian Accounting Standard being formulated in alignment with International Financial Reporting Standards (IFRS), are likely to be notified by December this year. HISTORICAL EVENT
 On 1st September, 1946, 1st US Women's Open Golf Championship won by Patty Berg.
MARKET UPDATES SENSEX
26,825.91187.80 CNX NIFTY
8,012.0557.70 DOLLAR/ RUPEE
60.5-0.01 MCX SILVER 42174.0-0.25 MCX GOLD 27,910-86.00 MCX CRUDE OIL 5823.000.15 Dow Jones Industrial average 17,098.4518.88 Nasdaq Composite 4580.2722.58