1. Art and Diseño

9
GJ BUSINESS/ECONOMY/MARKETS
Modi to hold first meeting of
Niti Aayog on February 6
NEW DELHI, JAN 27:
Prime Minister Narendra
Modi will spell out the functional roadmap of the newly
created Niti Aayog at its first
meeting being scheduled on
February 6.
The members of the
Aayog would have first hand
experience of Modi's expec-
tation from the new body and
also help them in finalising
the plan of action of the new
body which was formed on
January 1.
"The first meeting of the
NITI (National Institution for
Transforming India) Aayog is
being scheduled on February
6. It is expected to clear the
air over the role the new body
will play," a source said.
"After the meeting it will
be clear, whether the Aayog
will be recognised as government body or merely play the
role of an economic think
tank," the source said.
It is also expected that the
meeting will bring more clarity on role Aayog will play in
evolving model for revenue
generation and expenditure
realisation. The source said
that the meeting of the
Aayog's governing council
comprising
all
Chief
Ministers and Lt. Governors
of UTs is being scheduled for
February 8. Modi, who is the
Chairman of Aayog, had held
a meeting of all chief ministers on December 7 for seeking their views on the new
body which had to replace the
erstwhile
Planing
Commission, at his residence. The source said the
meeting on February 6 will
also be a precursor to the governing council meeting as
agenda would be set during
the deliberations. The NDA
government had announced
creation of the Aayog to
replace the about 65-year old
Planning Commission.
The first Vice-Chairman
of the Aayog, Arvind
Panagariya, and full time
member Bibek Debroy had
joined earlier this month. The
other full time member of
body, V K Saraswat is
expected to join shortly. The
ex-officio members of Aayog
are Home Minister Rajnath
Singh, Finance Minister Arun
Jaitley, Railway Minister
Suresh
Prabhu
and
Agriculture Minister Radha
Mohan Singh. (PTI)
|| GREATER JAMMU ||
JAMMU, WEDNESDAY, JANUARY 28, 2015 ||
Fiscal targets likely to
be met: Arun Jaitley
NEW DELHI, JAN 27:
Finance Minister Arun
Jaitley on Tuesday said fiscal deficit targets for current
year are likely to be met and
manufacturing sector is
showing turnaround signs.
"Even though the revenues
have been challenging due to
slow manufacturing industry,
now, it is turning around and
it looks like we will be able
to meet our fiscal targets," Jaitley said here. The government
has pegged fiscal deficit target at 4.1 percent of the GDP for
the current year. "Our currency is one of those two global
currencies that withstood the might of the US dollar. Most of
the global currencies are under pressure," he said. Stating
that last one week had been a great learning for him, the
Finance Minister said, "The sense I got in last few days is
that ordinarily everything is going well with India. "From
depressing slowdown in last last two three years, suddenly
our growth rates are likely to look up." On the other hand,
competing economies globally have not been so good.
"Brazil faces a challenge, South Africa faces challenge.
Europe is still struggling to come out of slowdown. China
which has maintained a growth rate of over 9 percent over 3
decades is looking at new normal," he said. (PTI)
In BRIEF
Sebi allows Gauhati Stock
Exchange exit from bourse biz
MUMBAI: Market regulator Sebi on Tuesday allowed Gauhati
Stock Exchange (GSE) to exit stock bourse business. The
Securities and Exchange Board of India (Sebi) said GSE has substantially complied with the conditions for its exit as per the regulator's framework and therefore "is a fit case to allow exit." According
to an order, Sebi said GSE complied with the regulator's exit guidelines and made payment of necessary dues to the regulator,
including 10 per cent of the listing fee and the annual regulatory
fee. Among other things, Sebi said, the stock exchange has complied with the guidelines wherein it has stated that there are no
arbitration disputes /investor complaints pending against it. "From
the valuation report and undertaking of GSE, it is observed that all
the known liabilities have been brought out and that there is no
other future liability that is known as on date," Sebi said. (PTI)
Maruti Suzuki Q3 net profit
rises 18% at Rs 802 crore
NEW DELHI: The country's largest carmaker Maruti Suzuki India
on Tuesday reported 17.8 percent increase in net profit at Rs
802.2 crore for the third quarter ended December 31, 2014. The
company had posted a net profit of Rs 681.15 crore in the same
period last fiscal, Maruti Suzuki India said in a statement. "Higher
volumes, material cost reduction initiatives and favourable foreign
exchange contributed to the bottomline during the quarter," the
company said in a statement. Net sales during the quarter stood
at Rs 12,263.14 crore, up 15.5 percent as against Rs 10,619.68
crore in the same period previous fiscal. Volume sales in the
quarter were up 12.4 percent at 3,23,911 units as compared to
2,88,151 units in the same period last fiscal, it added. (PTI)
Gold, silver slide on subdued Markets continue record-setting spree; Sensex, Nifty hit new highs
MUMBAI, JAN 28: Rising eign investments in India closing high of 8,910.50 after the countries broke a sevendemand, global cues
for the eighth straight day, after the ECB launched a hitting historic high of year logjam to operationalise
'Manufacturing key to create
a landmark civil nuclear deal,
markets continued their landmark bond-buying stim- 8,925.05.
MUMBAI, JAN 27: Gold
prices dropped at the domestic bullion market here due to
lack of demand from stockist
and retailers amid sluggish
global trend. Silver also
slipped to close below Rs
39,000 per kg following
intense selling pressure from
traders coupled with subdued
industrial offtake. Standard
gold (99.5 purity) slumped
by Rs 260 to finish at Rs
27,785 per 10 grams from
last Saturday's closing level
of Rs 28,045.
Pure gold (99.9 purity)
also fell by a similar margin
to conclude at Rs 27,935 per
10 grams as against Rs
28,195 previously.
Silver (.999 fineness)
dipped by Rs 730 to end at
Rs 39,850 per kg as compared to Rs 40,580 last
weekend. At the global, gold
steadied in early trade, looking to snap two sessions of
losses, as the dollar and
shares eased ahead of a US
Federal Reserve policy meeting that may push back
expectations for when US
interest rates will rise. (PTI)
record-setting spree with
benchmark Sensex Tuesday
jumping 292.20 points to end
at new closing peak of
29,571.04 and Nifty breaching 8,900-mark for the first
time as investors cheered the
strengthening of Indo-US
trade ties.
Sustained FII inflows kept
the momentum going for
Indian shares despite mixed
trend seen elsewhere in Asia
in the wake of anti-austerity
Syriza party's victory in
Greek elections.
Hopes of pick up in for-
India appeals to DSB over import of US agricultural products
GENEVA, JAN 27: India
has appealed to the Dispute
Settlement Board of World
Trade Organisation for a
panel decision on its issues
with the US over agricultural
imports.
"WTO
Secretariat
received today a notice by
India announcing its decision
to appeal certain issues of
law and legal interpretation
in the panel report in the case
'India -- Measures concern-
ing the importation of certain
agricultural products'," the
WTO said yesterday.
India had in 2012
imposed some prohibitions
with regard to importation of
various agricultural products
from the US because of concerns related to Avian
Influenza. This import prohibition is maintained through
India's Avian Influenza (AI)
measures, mainly, the Indian
Livestock Importation Act,
1898. The US contended that
India's AI measures amounted to an import prohibition
that was not based on the relevant international standard
or on a scientific risk assessment. The dispute settlement
panel ruled that India's AI
measures are inconsistent
with the Sanitary and
Phytosanitary (SPS) agreement because they are not
based on the relevant international standards. (PTI)
An out of service Metropolitan Transportation Authority bus moves along a snow-covered
Broadway in the Upper West Side neighborhood of New York.
(Agencies)
India appeals to DSB over import
of US agricultural products
GENEVA, JAN 27: India
has appealed to the
Dispute Settlement Board
of
World
Trade
Organisation for a panel
decision on its issues with
the US over agricultural
imports.
"WTO
Secretariat
received today a notice
by India announcing its
decision to appeal certain issues of law and
legal interpretation in
the panel report in the
case 'India -- Measures
concerning the importation of certain agricultural products'," the
WTO said on Monday.
India had in 2012
imposed some prohibitions
with regard to importation
of various agricultural
products from the US
because of concerns related to Avian Influenza. This
import prohibition is maintained through India's
Avian Influenza (AI)
measures, mainly, the
Indian
Livestock
Importation Act, 1898.
The US contended that
India's
AI
measures
amounted to an import prohibition that was not based
on the relevant international standard or on a scientific risk assessment.
The dispute settlement
panel ruled that India's AI
measures are inconsistent
with the Sanitary and
Phytosanitary (SPS) agreement because they are not
based on the relevant international standards.
claims that the panel
committed several legal
errors in its interpretation
and application of numerous articles of the SPS
agreement. (Reuters)
jobs and accelerate growth'
"Domestic
markets
upheld the prevailing upside
momentum on Monday and
scaled
to
newer
highs....Buoyancy was triggered by the US president on
his visit to India as he
pledged investment and loans
worth USD 4 billion in order
to promote trade and business
with India," said Religare
Securities, President-retail
distribution, Jayant Manglik.
US President Barack
Obama today left for Saudi
Arabia, wrapping up his 3day visit during which both
Idea reports 64% jump in
December quarter; net
profit at R 767 crore
Tata Motors seeks shareholder nod for right issues
NEW DELHI, JAN 27:
Idea Cellular today reported a nearly 64% jump in
its net profit at R 767.06
crore for the quarter ended
December 31, 2014 on the
back of growth in data volume and voice minutes.
The country's third
largest mobile operator
had reported a net profit of
R 467.73 crore in the corresponding period last fiscal, a company statement
said.
Total revenue of the
company also rose 21.23%
to R 8,017.47 crore for the
reported period compared
to R 6,613.06 crore last
time.
"During the quarter,
Idea carried 170.7 billion
minutes on its network,
registering 5.1% sequential quarterly growth and
46.1 billion megabytes of
mobile data on its 2G+3G
platform, with both lines
of business delivering
strong performance," Idea
said.
Mobile data now contributes 15.7% to service
revenue whereas the value
added service (VAS) contribution has improved to
23.1% of service revenue,
it added. (PTI)
Housing sales decline
30% in 2014: CBRE
NEW DELHI, JAN 27:
Housing sales fell by about
30 per cent last year in
seven major cities due to
costlier flats and higher
interest rate, says property
consultant CBRE. Housing
supply in the seven cities -Delhi NCR, Mumbai,
Kolkata,
Chennai,
Bangalore, Hyderabad and
Pune declined by about 25
per cent in 2014 as against
the previous year.
"Residential
sales
declined by approximately
30 per cent y-o-y by the
end of 2014 in the seven
leading cities of the country, largely due to high
price points, sticky interest
rates and cautious buyer
sentiments," CBRE South
Asia CMD Anshuman
Magazine said in a statement.
The decline was particularly steep in the National
Capital Region, he said,
adding that the slowdown
was reported in the premi-
besides boosting defence and
trade ties.
Capital goods sector
stocks hogged the limelight
after Obama and Prime
Minister Narendra Modi
unveiled a deal aimed at
unlocking billions of dollars
in nuclear trade and deepening defence ties.
In key earnings, stocks of
Maruti Suzuki India rose by
2.12 percent after the country's largest car maker
reported 17.8 percent
growth in net profits for the
third quarter. (PTI)
ulus programme to revive
euro zone economy provided
good support, traders said.
The BSE Sensex resumed
higher at 29,451.65 and rose
further to lifetime high of
29,618.59 before ending at
all-time closing high of
29,571.04, showing a gain of
292.20 points or one percent.
The BSE Sensex has
gained by 2,224.22 points of
8.13 percent in the eight successive trading sessions.
The CNX 50-share Nifty
also gained 74.90 points, or
0.85 percent, to hit all-time
um as well as the highend/mid-end housing segments. The general slackness in residential sales
was primarily triggered by
the Affordability Index
going down in certain
cities, he noted.
"Housing
sales
remained muted even during the festive season, as a
cautious buyer sentiment
rode over discounts and
attractive marketing offers.
This is perhaps a signal that
prevailing high property
prices need to be rationalized in tune with average
per capita income rates of
Indian home buyers," Mr
Magazine observed.
Keeping in mind subdued
end-user/investor
sentiments, CBRE report
said that many developers
in major markets abstained
from launching new projects, and instead directed
their focus towards reducing the existing inventory
pile-up. (Agencies)
MUMBAI, JAN 27: Tata
Motors, India's biggest
vehicle manufacturer today
informed that it will seek
approval from the shareholders for raising funds
upto R 7,500 crore through
a right issue.
The company's board of
directors held a meeting in
this regard today. The right
issue will be for both class
of shares, Ordinary and 'A'
Ordinary Shares. Proceeds
will be used for its growth
plans as well as for reducing debt, the company clarified.
"The quantum, pricing
and timing of the issue will
be decided at a later point in
time, depending upon the
market conditions post
shareholders' and other
approvals", stated the company.
The company closed
2014 with the raising of Rs
300 crore taking the year
total to R 13,700 crore
raised at the group level
that included Jaguar Land
Rover.
Last calendar year Tata
Motors successfully raised
$750 million (about R 4,600
crore) in what was its second fund raising activity in
that year. The company got
$4.2 billion orders for the
issue of senior unsecured
notes.
NEW DELHI: India needs to put special focus on manufacturing to create thousands of jobs and accelerate economic
growth to 9-10 percent, a top government official said.
Secretary in the Department of Industrial Policy and Promotion
(DIPP) Amitabh Kant said government would give special attention on manufacturing sector to create jobs. "We have to create
33,000 jobs a day and that is a challenge ... India has to grow
at 9-10 percent for decades and that is a challenge and unless
that happens it will be difficult to create jobs and that growth will
come only through manufacturing," Kant said here at a Ficci
function. He said government is taking several steps to boost
manufacturing and boost economic activities in the country.
"You cannot have growth without jobs...Manufacturing is critical
for India and if manufacturing has to grow then India needs to
change its mindset," he added. (PTI)
This was followed by
the issue of senior notes of
$500 million (R 3,000
crore) by the two UK-based
luxury brands Jaguar Land
Rover. The issue was done
to fund JLR's ongoing
growth and capital spending plans.
In May this year the
company's wholly ownedsubsidiary TML Holdings
raised $300 million (about
R 1800 crore) through an
issue of debt securities
having fixed interest rate.
Last year TML Holdings
which also owns Jaguar
and Land Rover raised
S$350 million through senior fixed notes. (Agencies)
FOREX (INDIA RUPEE)
AT GLANCE
Forex Name
Australian Dollar
Bahraini Dinar
British Pound
Canadian Dollar
Chinese Yuan
Danish Krone
Euro
Hong Kong Dollar
Iraqi Dinar
Japanese Yen
Kuwaiti Dinar
Omani Rial
Pakistani Rupee
Qatar Rial
Saudi Arabian Riyal
Singapore Dollar
South African Rand
Swedish Krona
Swiss Franc
UAE Dirham
US Dollar
Value Against
Indian Rupee
48.8460
162.7404
93.1941
49.4040
9.8263
9.3687
69.7554
7.9126
0.0540
0.5224
208.2032
159.3377
0.6078
16.8452
16.3210
45.7491
5.3007
7.4869
68.4406
16.7007
61.3450
BSE TOP GAINERS
Company
SRS Real Infrastructure Ltd.
Rane Brake Lining Ltd.
Rapicut Carbides Ltd.
Welspun Projects Ltd.
Aqua Pumps Infra Ventures Ltd.
Current
(R)
30.00
351.90
69.35
31.55
32.50
Gain(%)
20.00
20.00
19.98
19.96
19.93
Absolute
Change (R)
5.00
58.65
11.55
5.25
5.40
Milkfood Ltd.
Astec Lifesciences Ltd.
Aravali Securities & Finance Ltd.
Tarmat Ltd.
Sree Sakthi Paper Mills Ltd.
Ceejay Finance Ltd.
Logix Microsystems Ltd.
246.60
134.90
5.17
25.90
18.72
49.00
25.45
19.30
18.96
17.50
17.19
16.93
16.25
15.16
39.90
21.50
0.77
3.80
2.71
6.85
3.35
35.30
66.10
50.05
398.05
17.05
11.86
290.00
329.80
2,395,559
2,215,751
2,093,797
2,051,801
1,975,111
1,951,403
1,740,284
1,578,195
0.10
1.85
-0.70
-4.60
1.35
-0.26
-4.85
2.45
208.95
3,210.65
2,136.00
239.00
125.85
297.45
692.10
-4.63
-4.01
-3.53
-3.51
-3.49
-3.03
-2.82
-10.15
-134.20
-78.05
-8.70
-4.55
-9.30
-20.10
497.40
42.85
42.90
2,013.95
41.20
11.25
67.50
14.32
12.47
12.45
11.47
10.90
10.84
10.75
62.30
4.75
4.75
207.30
4.05
1.10
6.55
113.25
360.15
26.30
143.15
66.10
330.05
368.20
17,630,760
16,837,240
15,680,810
14,984,990
14,105,850
13,734,090
12,681,650
6.85
10.70
-0.30
1.25
1.80
2.60
33.45
-8.76
-7.81
-7.66
-7.34
-6.79
-6.74
-6.26
-6.04
-1.20
-0.25
-2.75
-6.60
-17.90
-1.95
-15.80
-1.80
BSE TOP MOVERS
Company
Current
(R)
Suzlon Energy Ltd.
15.22
Sintex Industries Ltd.
113.45
Unitech Ltd.
16.80
Housing Development & Infrastructure Ltd. 83.80
Sun Pharma Advanced Research Company Ltd. 366.95
Edelweiss Financial Services Ltd.
76.30
Volume
Absolute
Change (R)
13,638,835 0.36
3,857,285 7.10
3,756,027 -0.15
3,503,136 3.95
3,012,326 33.35
2,410,663 7.05
Company
Loss(%)
TV18 Broadcast Ltd.
Ashok Leyland Ltd.
Adani Power Ltd.
Tata Steel Ltd.
Shree Renuka Sugars Ltd.
Jaiprakash Power Ventures Ltd.
Coromandel International Ltd.
State Bank of India
BSE TOP LOSERS
Gujarat State Fertilizer & Chemicals Ltd.
Firstsource Solutions Ltd.
Union Bank of India
GRUH Finance Ltd.
PMC Fincorp Ltd.
Current
(R)
107.50
27.90
238.20
291.25
42.60
-11.78
-5.74
-5.25
-4.99
-4.91
Absolute
Change (R)
-14.35
-1.70
-13.20
-15.30
-2.20
KPIT Technologies Ltd.
Dr. Reddy's Laboratories Ltd.
Infosys Ltd.
Cairn India Ltd.
Vakrangee Ltd.
Finolex Industries Ltd.
Gujarat Gas Company Ltd.
NSE TOP GAINERS
Company
RPG Cables Ltd.[Merged]
Rane Brake Lining Ltd.
Welspun Projects Ltd.
Astec Lifesciences Ltd.
Logix Microsystems Ltd.
Current
(R)
1,110.10
354.40
31.25
134.95
25.55
Gain(%)
3893.17
19.99
19.96
18.74
15.35
Absolute
Change (R)
1082.30
59.05
5.20
21.30
3.40
Jet Airways (India) Ltd.
Geojit BNP Paribas Financial Services Ltd.
Upper Ganges Sugar & Industries Ltd.
Sundaram Clayton Ltd.
Pochiraju Industries Ltd.
Bang Overseas Ltd.
Globus Spirits Ltd.
NSE TOP MOVERS
Company
Current Volume
(R)
Unitech Ltd.
16.80 37,679,760
Suzlon Energy Ltd.
15.25 35,939,280
Edelweiss Financial Services Ltd.
76.20 27,806,170
Housing Development & Infrastructure Ltd. 83.95 18,874,860
GMR Infrastructure Ltd.
16.65 17,913,060
Absolute
Change (R)
-0.15
0.40
6.15
4.05
-0.15
Sintex Industries Ltd.
ITC Ltd.
Jaiprakash Associates Ltd.
NTPC Ltd.
Ashok Leyland Ltd.
State Bank of India
Sun Pharma Advanced Research Company Ltd.
NSE TOP LOSERS
Company
Current
(R)
Vinyl Chemicals (I) Ltd.
72.25
Omax Autos Ltd.
54.15
Aro Granite Industries Ltd.
71.15
Gujarat State Fertilizer & Chemicals Ltd. 107.55
Alchemist Ltd.
36.40
Consolidated Construction Consortium Ltd. 5.40
Loss(%)
-18.04
-14.45
-13.71
-12.06
-11.33
-10.00
Absolute
Change (R)
-15.90
-9.15
-11.30
-14.75
-4.65
-0.60
Hind Syntex Ltd.
Soma Textiles & Industries Ltd.
Vardhman Special Steels Ltd.
Industrial Investment Trust Ltd.
RS Software (India) Ltd.
C & C Constructions Ltd.
Zuari Agro Chemicals Ltd.
Salona Cotspin Ltd.
12.50
2.95
33.15
83.30
245.90
27.00
236.65
28.00