The document summarizes various weekly news items:
1. There is doubt about India's reported 8.8% GDP growth for the first quarter due to large data discrepancies, making it difficult for the central bank to further raise interest rates. Inflation remains high at 9.97%.
2. Reliance Industries surprised investors by acquiring a 14.12% stake in EIH for Rs. 1021 crore, upsetting ITC's ambitions while reducing the Oberoi family's stake. Management will reportedly not change.
3. Honda Motor may sell its 26% stake in Hero Honda to Hero Group, which currently holds 52% in the joint venture that produces over half of India
Bloomberg Intelligence: India Budget: Petroleum ImpactBloomberg LP
India’s Budget: Petroleum Impact http://bloom.bg/1wSAOcS
India’s budget due Feb. 28 may include details on how to refocus the country’s energy subsidies. This may help reduce the budget deficit while also freeing up funds for India firms to invest in oil and gas exploration and much-needed infrastructure.
The government, trying to sell state assets to cut the deficit, may have to address investor concerns regarding subsidy allocations and natural-gas prices. Investors will be watching for evidence that Modi’s planned reforms are achievable.
Bloomberg Intelligence: India Budget: Petroleum ImpactBloomberg LP
India’s Budget: Petroleum Impact http://bloom.bg/1wSAOcS
India’s budget due Feb. 28 may include details on how to refocus the country’s energy subsidies. This may help reduce the budget deficit while also freeing up funds for India firms to invest in oil and gas exploration and much-needed infrastructure.
The government, trying to sell state assets to cut the deficit, may have to address investor concerns regarding subsidy allocations and natural-gas prices. Investors will be watching for evidence that Modi’s planned reforms are achievable.
Market Reports on India presents the latest report on “India Oil & Gas Retail Market”. http://www.marketreportsonindia.com/energy-utility-market-research-reports-13919/india-oil-gas-retail.html India’s recent policy reforms in oil and gas sector are going to impact all the segments viz. exploration, production, refining and retailing but due to the already favorable market conditions, retailing is likely to be emerge more attractive segment for investment.
Q4FY13 Review – Large Caps Outperformed the small and Mid Caps!RR Finance
In the month of May 2013 Benchmark indices ended positively. While BSE Sensex grew by 1.31% & Nifty gained 0.94%. RBI cuts interest rates by twenty five bps & Wholesale Inflation figure came down below 5 %. However GDP Data came in month of May, were in line with expectations, dampening hopes of further rate cut.
Visit: - http://www.rrfinance.com/
National Conference on “Infrastructure Finance – Building for Growth” - INDIA...Resurgent India
Indian economy after registering a robust growth of more than 9% during the period 2005-08, moderated to a growth of 6.7% in 2008-09 on the back of the global financial crisi
Market Reports on India presents the latest report on “India Oil & Gas Retail Market”. http://www.marketreportsonindia.com/energy-utility-market-research-reports-13919/india-oil-gas-retail.html India’s recent policy reforms in oil and gas sector are going to impact all the segments viz. exploration, production, refining and retailing but due to the already favorable market conditions, retailing is likely to be emerge more attractive segment for investment.
Q4FY13 Review – Large Caps Outperformed the small and Mid Caps!RR Finance
In the month of May 2013 Benchmark indices ended positively. While BSE Sensex grew by 1.31% & Nifty gained 0.94%. RBI cuts interest rates by twenty five bps & Wholesale Inflation figure came down below 5 %. However GDP Data came in month of May, were in line with expectations, dampening hopes of further rate cut.
Visit: - http://www.rrfinance.com/
National Conference on “Infrastructure Finance – Building for Growth” - INDIA...Resurgent India
Indian economy after registering a robust growth of more than 9% during the period 2005-08, moderated to a growth of 6.7% in 2008-09 on the back of the global financial crisi
Founders Ridge, located in Bloomington, MN, is an exciting new senior living community being developed by Presbyterian Homes & Services. This program, first presented before a live audience, provides important information about the development including site and floor plans, amenities, construction timeline and apartment reservations.
The organized sector in India created 346,000 jobs between July and September 2011 and is expected to add another 326,400 by end 2011, according to the latest findings of Ma Foi Randstad Employment Trends Survey – Wave 3.
The survey was conducted among 676 companies across 13 industry segments panning 8 Indian cities. The feedback was gathered from the top HR personnel and senior management of companies, who shared valuable insights on the job creation during the last (July – September) and the current (October – December) quarters of 2011.
The current slowdown in the economy and increasing domestic inflation has resulted in sectoral variation in the employment outlook among sectors and although new jobs continue to be added, it is at a slower pace. According to the survey, the Healthcare sector continues to lead in job generation by adding 60,400 jobs in Q3 (July – September) 2011, followed by Hospitality sector with 48,400 jobs and IT & ITeS sector with 46,600 jobs during the same period.
This is however lesser than the numbers (Healthcare - 63,800 / Hospitality - 54,400 / IT & ITeS - 55,500) predicted at the beginning of the quarter three. These sectors are expected to continue as the lead job generators in the coming quarter with Healthcare expecting to add 58,700 jobs followed by Hospitality & ITeS adding 40,000 plus jobs each.
Among the cities, Mumbai added 28,500 jobs, followed by Delhi & NCR adding 27,000 and Chennai adding 15,500. However, the total job generation by these 3 cities was lower by 6,100 jobs, against the original prediction (Mumbai - 32,300 / New Delhi & NCR – 27,900 / Chennai – 16,900) at the beginning of Q3. These cities are expected to generate a total of 69,200 jobs in the current quarter.
Reflecting a positive hiring outlook, the organized sector in India is expected to create about 1.6 million new jobs in the year 2012, as per the latest results of a survey from HR firm Ma Foi Randstad..
India Budget 2012-13 - Analysis by Prabhu SrinivasanPrabhu Srinivasan
Budget 2012-13 has invited more criticisms than appreciations from the various stakeholders of the country. Given the unanticipated difficult situation the global markets are currently in, and the multiple problems that the Indian economy is facing, such as weakening of Rupee against US Dollars, High cost of funds, Inflationary pressures, and High unemployment levels to name a few, the finance ministry has opted for a stringent budget to defy these problems and bring the economy back on a sustainable growth path. I would like to conclude the analysis with my view that the key lies in implementation of the plans. Having observed in the past, that implementation of various initiatives have seen multiple road-blocks stalling them abruptly, we shall try to learn from our past to ensure growth and prosperity of the world’s largest democracy!
2. Doubts on 8.8% GDP growth for Q1 India grew at its fastest pace in last two years. But large data discrepancies prompted many economists to question the strength of economy. The question mark on GDP data will make it difficult for central bank to raise interest rates further. Inflation rate is still at 9.97%.
3. Mukesh picks up 14.12% in EIH Reliance industries took investors surprise with a stake buy in hospitality company for Rs.1021 cr. Deal upsets ITC’s desire to control EIH one day. Oberoi family’s stake fell to 32% from 46%. Both Reliance and Oberoi said thet there will be no change in the management.
4. Munjal’s, Honda may part ways Honda Motor Company of Japan is in talks with Hero Group to sell its 26% stake in Hero Honda motors. Hero Honda makes more then half of the bikes sold in India. Currently Hero’s stake is 52%. Both Hero and Honda denied the statement.
5. Errors in GDP numbers Centre admits to errors in some GDP numbers. Revised data likely to show economy grew 8% from demand side in Q1. Growth in the value of all goods and services produced by India was not corroborated by demand side. The difference in both is of about 0.5%.
6. FY11 tax collection may top budget estimate India's tax collections could beat budget estimates of Rs 7,46,000 crore ($160 billion) in the fiscal year to end-March 2011. With this govt. could lower the fiscal deficit to below the targeted 5.5 per cent of GDP. could result in federal borrowing being reduced from the record Rs 4,57,000 crore budgeted for the current fiscal year.
7. Ailing PSUs may get lifeline through banks Government may throw a lifeline to ailing state-run banks to offer joint ventures with private sector players. Out of the total 213 operating PSUs, 54 incurred losses during 2008-09. The loss of sick PSUs stood at `14,424 crore in 2008-09, 40% more than the previous year’s figure.