PGC NEWSLETTER 20th May 2014 1
PGC
NEWSLETTER
20th
May 2014
THOUGHT OF THE DAY
“A LEADER IS ONE WHO KNOWS THE WAY, GOES TH...
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PGC Newsletter 20th may 2014

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PGC Newsletter 20th may 2014

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PGC Newsletter 20th may 2014

  1. 1. PGC NEWSLETTER 20th May 2014 1 PGC NEWSLETTER 20th May 2014 THOUGHT OF THE DAY “A LEADER IS ONE WHO KNOWS THE WAY, GOES THE WAY ANDSHOWS THE WAY”. ECONOMIC NEWS • Gains in rupee to be limited as RBI likely to continue intervention (RBI) would keep mopping dollar flows in domestic markets through state-run banks. Due to which, the appreciation in the rupee might be limited. • FII flows in debt seen picking up on stable govt-Inflows of Rs.6,000 crore in the first fortnight of this month Foreign institutional investors (FIIs) are set to pump in more funds in debt securities, as the next government is expected to be a stable one and is seen as growth-oriented by market participants. SEBI/COMPANIES UPDATES • Real estate major DLF will have to pay Rs. 630 crore as penalty for unfair business practices, a government tribunal has ruled. Upholding a 2011 order passed by fair trade watchdog CCI, the Competition Appellate Tribunal on Monday said India's biggest real estate company must pay up the hefty fine. • Gautam Adani-led Adani Ports and Special Economic Zone on Friday scooped up the strategic Dhamra port on the east coast of India for an enterprise value of Rs 5,500 crore. The company signed a definitive agreement to buy the port from a 50:50 joint venture of Tata Steel and Larsen & Toubro. RBI / TAX LAW UPDATES • RBI/2013-14/595 A.P. (DIR Series) Circular No.131 Overseas Direct Investments – Limited Liability Partnership (LLP) as Indian Party. MARKET UPDATES SENSEX 24,355.74 -7.31 CNX NIFTY 7,266.20 2.65 DOLLAR/ RUPEE 58.71 0.11 MCX SILVER 41095.00 .49 MCX GOLD 41040.00 .45 MCX CRUDE OIL 6039.00 0.47 Dow Jones Industrial average 16,512 21 Nasdaq Composite 4,126 35

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