Pgc newsletter 12 th aug, 2014

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Pgc newsletter 12 th aug, 2014

  1. 1. PGC NEWSLETTER 12TH AUG, 2014 1 PGC NEWSLETTER 12TH Aug 2014 THOUGHT OF THE DAY "IT COSTS NOTHING TO DREAM BUT ARE YOU WILLING TO PAY THE PRICE TO MAKE IT REALITY?" SEBI/COMPANIES UPDATES • Hyundai Motor India, the country's biggest car exporter, has decided to shift focus from exports to the domestic market, which is showing signs of recovery after nearly two years of falling sales. • Finance minister Arun Jaitley said efforts are under way to achieve the indirect tax collection target for the year even though the task is challenging. • The Vijay Kelkar committee, which is in favour of continuing with the oil and gas contract system with some modifications, will submit its report by end-September after a three-month extension • A yet another strong show by Jaguar Land Rover (JLR) helped city-based Tata Motors, India’s biggest automobile manufacturer, report a 213 per cent jump in consolidated net profit for the quarter ended June at Rs 5,398 crore. • India appealed against a WTO ruling in the steel product dispute case on Friday, which was seen as a partial victory for the country. The WTO dispute panel in July had ruled that the countervailing duty imposed by the US on Indian steel exports was inconsistent with WTO law on subsidies. • State-run BSNL failed to achieve any of its targets, including addition in mobile connections, broadband capacity and new GSM lines, in the last financial year, a government document showed. • Search engine Google Inc and five Asian telecom and communications companies have agreed to invest about $300 million to develop and operate a trans-Pacific cable network connecting the United States to Japan. • State-run Central Bank of India has appointed SBI Caps to identify a buyer for its stake in Infrastructure Leasing & Financial Services (IL&FS). RBI / TAX LAW UPDATES • RBI/2014-15/171 A. P. (DIR Series) Circular No. 19, Liberalized Remittance Scheme for resident individuals-clarification. Historical Events on 12th August • 2007 - 89th PGA Championship: Tiger Woods shoots a 272 at Southern Hills Country Club MARKET UPDATES SENSEX 25,684.55 165.31 CNX NIFTY 7,666.60 40.65 DOLLAR/ RUPEE 61.14 - 0.05 MCX SILVER 43,694.0 - 0.36 MCX GOLD 28,565.0 - 68.0 MCX CRUDE OIL 5,994.0 - 0.30 Dow Jones Industrial Average 16,570.0 16.0 Nasdaq Composite 4,401.0 30.0 WWW.PROGLOBALCORP.COM

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