The newsletter provides updates on economic news, SEBI/companies, RBI/tax law, and markets. It notes that the RBI will continue intervening in markets to limit rupee appreciation. It also reports that stable government expectations are increasing foreign investment in Indian debt. Additionally, it reports that DLF was fined Rs. 630 crore for unfair business practices and Adani Ports acquired Dhamra port for Rs. 5,500 crore. Market indexes and currency exchange rates are also included.

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