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Ganeshaspeaks: Market prediction for December 31

Written By Unknown on Selasa, 31 Desember 2013 | 10.55

By Shri Dharmesh Joshi of Ganeshaspeaks

Consider 10 minutes plus and minus in each prediction, and act accordingly.

Ganesha advises you to compare every prediction with the prediction of the previous time slot.

Ganesha divides the period between 09:15 to 11:15 into two parts and says that Nifty will go up during the first part and may go down during the second, and you will be back to the same position by the end of this period.

During 11:15 to 12:00, buy shares in small amounts at average prices.

During 12:00 to 13:00, sell shares in small amounts at average prices.

During 13:00 to closing bell, Nifty may change its trend every 30 minutes.

Shri Dharmesh Joshi is a protege of Bejan Daruwalla and belongs to the team of astrologers declared as official successors to his astrological legacy, by none other than Bejan Daruwalla himself, in an event in Mumbai on the 23rd Nov, 2009.

Disclaimer: The views and investment tips expressed by investment experts/astrologers on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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ONGC, Shell buy rest Brazil offshore block from Petrobras

Royal Dutch Shell Plc and India's  Oil and Natural Gas Corp ( ONGC ) purchased the remaining 35 percent of a Brazilian offshore oil block from their partner, Brazil's state-run Petroleo Brasileiro SA , Shell said in a statement on Monday.

Under the accord, which the companies began negotiating in September, Shell will get an additional 23 percent of BC-10, raising its stake to 73 percent. ONGC will get an additional 12 percent, boosting its stake to 27 percent, Shell said.

Also Read: Aker may submit report in Apr on ONGC-RIL tie-up prospect

Petrobras had originally agreed to sell its 35 percent stake to China's Sinochem for USD 1.56 billion. Shell and ONGC, though, exercised their right of first refusal. ONGC agreed to USD 529 million for the 12 percent stake in October, valuing the entire sale about the same as the amount Sinochem agreed to pay.

The additional share of oil coming to Shell from BC-10 could see the company jump past China's Sinochem to become Brazil's No. 4 producer, behind Petrobras, Norway's Statoil ASA and Britain's BG Group Plc , based on October figures from Brazil's petroleum regulator, the ANP.

Petrobras, as the Brazilian company is known, has been selling off assets in Brazil and abroad in an attempt to raise cash to finance a USD 237 billion five-year investment plan, the world's largest corporate spending program.

Petrobras' need for cash has risen as production from older oil fields has stagnated and output from new areas comes on line behind schedule, forcing the company to boost debt to finance investment. The government has also forced the company to sell gasoline and diesel fuel at home at prices below those on the world market, causing its refining and supply arm to lose money as fuel imports rise.

The BC-10 block is home to Shell and ONGC's Parque das Conchas, or "Shell Park" area. The block, at the north end of Brazil's Campos Basin, northeast of Rio de Janeiro, is home to the Ostra, Abalone, and Argonaut oilfields. Shell is the operator of the area.

Parque das Conchas, which began operating in 2009, produces about 50,000 barrels a day of oil. The company approved a third phase of the project in July which could add as much as 28,000 barrels a day of oil output to the project, Shell said.


ONGC stock price

On December 31, 2013, at 09:25 hrs Oil and Natural Gas Corporation was quoting at Rs 289.75, up Rs 0.50, or 0.17 percent. The 52-week high of the share was Rs 354.10 and the 52-week low was Rs 234.40.


The company's trailing 12-month (TTM) EPS was at Rs 22.24 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 13.03. The latest book value of the company is Rs 145.47 per share. At current value, the price-to-book value of the company is 1.99.


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Caplin Point Laboratories: Outcome of AGM

Written By Unknown on Senin, 30 Desember 2013 | 10.54

Dec 30, 2013, 09.17 AM IST

Caplin Point Laboratories Ltd has informed regarding the details of Voting results at the Annual General Meeting (AGM) of the Company held on December 27, 2013, under Clause 35A.

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Caplin Point Laboratories: Outcome of AGM

Caplin Point Laboratories Ltd has informed regarding the details of Voting results at the Annual General Meeting (AGM) of the Company held on December 27, 2013, under Clause 35A.

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Caplin Point Laboratories: Outcome of AGM

Caplin Point Laboratories Ltd has informed regarding the details of Voting results at the Annual General Meeting (AGM) of the Company held on December 27, 2013, under Clause 35A.

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Caplin Point Laboratories Ltd has informed BSE regarding the details of Voting results at the Annual General Meeting (AGM) of the Company held on December 27, 2013, under Clause 35A.Source : BSE

Read all announcements in Caplin Labs

To read the full report click here

Action in Caplin Point Laboratories

The Best New Year Parties in India


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Road opens up for CNG vehicles in US

There is little obvious to distinguish the vans that roll into and out of the AT&T depot in Palmdale, California, from the millions of other commercial vehicles carrying ladders, workers and equipment along roads throughout the US. But a sign on the sides of many of the telecoms company's vehicles reveals a significant difference. "Green technology," it proclaims. "Natural gas-powered vehicle."

AT&T – which operates thousands of Ford and General Motors vehicles converted to run on compressed natural gas – is typical of the customers who have turned to the fuel to power their fleets. The vans are large enough to accommodate bulky gas canisters hidden beneath the floor.

They cover enough miles for the low cost of natural gas to justify CNG-powered vehicles' higher purchase costs. The depots also host CNG fuelling stations, freeing the vans from reliance on the sparse network of public fuelling sites.

The question is whether the technology can, in contrast to other alternatives to traditional petrol and diesel, establish itself as economically viable.

That is likely to present a significant challenge, says John O'Dell, green-car editor of Edmunds.com, the car information site.

"The gasoline engine has been pretty much perfected," Mr O'Dell says. "It's a rough path to hope to try to replace it."

Yet CNG has better tools with which to tackle the path than many other alternatives. The glut of gas that has flooded the US market after the widespread adoption of new drilling techniques has sent the product's price plummeting. Manufacturers estimate the natural gas equivalent of a gallon of petrol costs about USD 1.25, against at least USD 3.40 for petrol in much of the US.

Just as importantly, gas prices are now so stable that suppliers are willing to sign fixed-price contracts for as long as a decade.

"The removal of volatility is really what is attracting customers," Jon Coleman, sustainability manager for fleet sales at Ford, says.

The natural gas can run in normal engines "hardened" to cope with it. Natural gas produces higher temperatures than liquid fuels and also provides less natural lubrication to engine parts.

Some Asian and European countries – Italy in particular – have long records of using CNG successfully to power some road vehicles, although with European gas prices now far higher than in the US, interest there is muted.

"[Hardened petrol engines] can well not have any base engine durability issues when converted to CNG," says Mark Maher, chief engineer for power train integration at General Motors.

Alongside the fuel savings, operators of CNG vehicles produce about 30 per cent fewer greenhouse gas emissions than conventionally fuelled vehicles and rely on a domestic rather than imported product.

Those factors together make CNG's economics far more "straightforward" than those for pure electric cars, according to Mr Coleman.

"A fuel that reduces your carbon footprint, reduces your dependence on foreign oil and reduces your costs becomes very, very attractive," Mr Coleman says.

Nevertheless, a glance at Chrysler's Ram 2500 CNG-equipped pick-up truck illustrates one big challenge. Even stored at 3,600 pounds per square inch, the gas takes up five times the space of a similar-range petrol tank. Gas cylinders fill nearly half the truck's cargo-carrying rear bed.

The canisters' size favours large commercial vehicles, according to Paul Nahra, a senior technical specialist for BorgWarner, a supplier of power train components.

"They have the size to accommodate these large tanks," he says.
Heavy commercial users also tend to record the mileages necessary to pay for CNG equipment. Conversion costs about USD 6,000 for a Ford F150, according to Mr Coleman, and operating costs are about 10 cents a mile cheaper.

"You need to run 60,000 miles on natural gas to recover the investment," Mr Coleman says. "We have customer fleets where vehicles do that in two years or less."

Most significantly, the shortage of CNG filling stations in much of the US means that operators are wary of running vehicles that follow unpredictable routes or stray long distances from home depots on CNG.

There are slightly more than 400 public CNG stations in the whole US, against 850 in Italy.

"If CNG were readily available without constraint, I think that that would have a big positive influence on demand," Mr Maher says.

Even though CNG vehicle demand is rising fast, overall numbers remain small. Ford expects to sell 15,000 CNG-ready vehicles this year, Mr Coleman says. The figure is five times the number sold in 2010 – but only a tiny fraction of the 2.4m vehicles the company will sell this year in the US.

The numbers are, nevertheless, growing fast. Mr Nahra and many other observers expect the technology to account for 10 per cent of US commercial vehicle sales by the end of this decade.

"The attraction is for those that can really take advantage of the cost savings," Mr Nahra says.



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Places to dine on New Year`s Eve

Written By Unknown on Minggu, 29 Desember 2013 | 10.54

Mumbai

Go the Whole Hog@Sofitel


This New Year's there's a feast for every kind of foodie at Bandra Sofitel. Buffet junkies can settle in at Jyran. The kids can party on in Pondicherry Café, and vegeterians can have their senses awakened at  Tuskers.
 


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A snow clad New Year’s eve in Shimla

After a white Christmas, it's time for a snow clad New Years in Shimla, adding to the delight of tourists flocking the hill stations of Himachal Pradesh. Few other places in the state such as Kullu, Manali, Rohtang Pass, Lahaul and Spiti will also receive snowfall.

A fairly good Western Disturbance will start affecting weather from today onwards and will bring snow and rain in the lower hills just before the New Year's celebrations. At present the maximum and minimum temperatures in Shimla are 13 degrees and 1 degree, respectively.

Tourists here should start bracing up for cold wave conditions as night temperatures may fall to sub-zero levels. Day temperature in Shimla will come down below 5 degrees. We expect a cloud cover in another 24 hours, gradually reducing the diurnal variation of temperatures. Hoteliers here are hoping that tourists will throng in large numbers, ahead of New Year's.

picture courtesy- wespeaknews

By: Skymetweather.com



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Wall Street ends mostly flat, but scores weekly gains

Written By Unknown on Sabtu, 28 Desember 2013 | 10.54

US stock indexes closed mostly flat on Friday, with the Dow snapping a six-day streak of record closing highs after investors took a break from this week's rally.

Shares of Twitter Inc, the social media company that has nearly tripled in value since going public in early November, slid 13 percent to close at USD 63.75 after investors took profits. Twitter was the most actively traded stock on the New York Stock Exchange on Friday.

The tech-heavy Nasdaq fell 0.25 percent, with leaders like Apple off 0.7 percent at USD 560.09 and Facebook Inc. down about 4 percent at USD 55.44. The Nasdaq has surged 37.7 percent this year, making it the best performer among the three major US stock indexes.

"Consolidating a little bit here is probably healthy rather than continuing a march higher without taking a breath," said Joseph Benanti, managing director of Rosenblatt Securities in New York. "It's a healthy pause with some profit-taking."

Volume overall was light, as it has been all week. About 4 billion shares traded on US exchanges, well below the average of about 6.1 billion this month, according to data from BATS Global Markets.

Both the Dow and the S&P 500 wrapped up a second straight week of solid gains. The S&P 500 posted its best two-week period since July, while the Dow marked its best two weeks since June 2012. The S&P 500 has soared 29.1 percent this year, on track for its best year since 1997. The Dow has climbed 25.8 percent this year, on track for its best year since 1996.

Sprint Corp shares jumped 8.3 percent to USD 10.79, following speculation that a deal by Japan's SoftBank Corp to acquire US wireless carrier T-Mobile US is closer to getting done. Sprint's stock also hit a 52-week high at USD 11.46 in Friday's regular session.

The Dow Jones industrial average fell 1.47 points or 0.01 percent, to end at 16,478.41. The S&P 500 dipped just 0.62 of a point, or 0.03 percent, to finish at 1,841.40. The Nasdaq Composite dropped 10.59 points or 0.25 percent, to close at 4,156.59.

Friday's slight decline also halted the S&P 500's run of four record closing highs in a row.

For the holiday-shortened week, the Dow gained 1.6 percent, the S&P 500 added about 1.3 percent and the Nasdaq advanced about 1.3 percent. The US stock market was closed on Wednesday for Christmas and trading had ended early on Tuesday.

In company news, Textron Inc agreed to buy aircraft maker Beechcraft Corp for USD 1.4 billion in cash. Textron shares rose 1.1 percent to close at USD 36.61.

General Motors Co's China joint venture will recall close to 1.5 million vehicles because of potential safety issues in one of the biggest recalls in the world's biggest auto market. GM's stock fell 1.4 percent to end at USD 40.94.

Advancers outnumbered decliners on the NYSE by a ratio of about 8 to 7. On the Nasdaq, about 13 stocks fell for every 12 that rose.



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Equity NAVs surge as markets end higher

Equity Mutual Funds surge for the second consecutive day as market closed strong on Friday. BSE IT index jumped 2 percent with Infosys, TCS and Wipro as major gainers. However, oil & gas and auto stocks were under selling pressure. Maruti, Reliance, BHEL and Bajaj Auto were laggards. All the funds in the equity domain advanced registering very few decline.

The Sensex was up 118.99 points at 21193.58. The Nifty held 6300 till the end to close at 6313.80 up 34.90 points.

On the Fixed income front, debt funds ended with negative returns as the Government bonds fell for a fifth consecutive session on Friday on continued concerns about potential rate hikes should inflation remain high and about cash tightness should the government cut spending to meet its fiscal deficit target.

Check out all mutual fund gainers & losers

Here is the day's performance and the gainers and losers across categories.

Equity diversified: Top gainers

*  HSBC Midcap Equity Fund (G) up 0.99%
*  Reliance Long Term Equity Fund (G) up 0.85%
*  JPMorgan India Smaller Companies Fund (G) up 0.81%

Equity diversified: Top losers

*  PPFAS Long Term Value Fund - Regular Plan (G) down 0.57%
*  Mirae Asset Global Commodity Stock Fund - Regular Plan (G) down 0.26%
*  Mirae Asset India-China Consumption Fund (G) down 0.10%

Tax saving funds: Top gainers

*  Reliance Tax Saver (ELSS) Fund (G) up 0.91%
*  LIC NOMURA MF Tax Plan (G) up 0.83%
*  Escorts Tax Plan (G) up 0.80%

Tax saving funds: Top losers

*  No Losers

Sector funds: Top gainers

*  Franklin Infotech Fund (G) up 1.75%
*  SBI IT Fund (G) up 1.53
*  UTI Services Industries Fund (G) up 1.30%

Sector funds: Top losers

*  Reliance Diversified Power Sector Fund - Retail Plan (G) down 0.11%

Balanced funds: Top gainers

*  Reliance Regular Savings Fund - Balanced Option (G) up 0.95%
*  Edelweiss Absolute Return Fund (G) up 0.51%
*  L&T Prudence Fund (G) up 0.48%

Balanced funds: Top losers

*  UTI Mahila Unit Scheme (G) down 0.01%

Debt funds: Top gainers

*  ICICI Prudential Regular Savings Fund (G) down 0.05%
*  Sundaram Gilt Fund (G) down 0.04%
*  Religare Invesco Credit Opportunities Fund (G) down 0.03%

Debt funds: Top losers

*  UTI Gilt Advantage Fund - Long Term Plan (G) down 0.08%
*  Reliance Regular Savings Fund - Debt Option (G) down 0.01%

For more Mutual Fund News click here



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Capri Global's warrants exercise period will commence on Dec 27, 2013

Written By Unknown on Jumat, 27 Desember 2013 | 10.54

Dec 27, 2013, 09.17 AM IST

Capri Global Capital has informed that the Warrant holders at their meeting held on Dec 16, 2009, extended the validity of warrant exercise period by 42 months from Sept 27, 2010 up to March 26, 2014. As per the revised schedule, the 5th & last Warrants exercise period will commence on December 27, 2013 and end on March 26, 2014.

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Capri Global's warrants exercise period will commence on Dec 27, 2013

Capri Global Capital has informed that the Warrant holders at their meeting held on Dec 16, 2009, extended the validity of warrant exercise period by 42 months from Sept 27, 2010 up to March 26, 2014. As per the revised schedule, the 5th & last Warrants exercise period will commence on December 27, 2013 and end on March 26, 2014.

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Capri Global's warrants exercise period will commence on Dec 27, 2013

Capri Global Capital has informed that the Warrant holders at their meeting held on Dec 16, 2009, extended the validity of warrant exercise period by 42 months from Sept 27, 2010 up to March 26, 2014. As per the revised schedule, the 5th & last Warrants exercise period will commence on December 27, 2013 and end on March 26, 2014.

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Capri Global Capital Ltd has informed BSE that the Company has earlier issued 1,80,00,400 Convertible detachable warrants along with Rights Shares on March 27, 2009 as per the Letter of Offer dated February 21, 2009. The Warrant holders at their meeting held on December 16, 2009, extended the validity of warrant exercise period by 42 months from September 27, 2010 up to March 26, 2014. As per the revised schedule, the 5th & last Warrants exercise period will commence on December 27, 2013 and end on March 26, 2014.The eligible Warrant holders can convert their Warrants into the Equity shares at a price of Rs. 109.62/- (Rupees One hundred & nine and paise sixty two only) per Warrant.Source : BSE

Read all announcements in Capri Global

To read the full report click here

The Best New Year Parties in India


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Fortune Financial Services clarifies on news item

Dec 27, 2013, 09.18 AM IST

With reference to the news item appearing in a leading financial daily titled

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Fortune Financial Services clarifies on news item

With reference to the news item appearing in a leading financial daily titled

Like this story, share it with millions of investors on M3

Fortune Financial Services clarifies on news item

With reference to the news item appearing in a leading financial daily titled

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With reference to the news item appearing in a leading financial daily titled "Mid-size Brokers Chalk Out a Grand Merger Plan", Fortune Financial Services India Ltd has submitted to BSE a copy of Clarification on the news item.Source : BSE

Read all announcements in Fortune Fin Ser

To read the full report click here

Action in Fortune Financial Services

The Best New Year Parties in India


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Why a new government may not boost India’s reform prospects

Written By Unknown on Kamis, 26 Desember 2013 | 10.54

Hopes for a change of government in India's upcoming elections have helped the subcontinent's currency and shares recover from sharp declines earlier this year, but the optimism may be premature.

After a strong performance in state elections completed earlier this month, many expect the opposition Hindu nationalist Bharatiya Janata Party (BJP), led by Narendra Modi, could oust the current ruling Congress party in national elections set to be held by May. The Congress party's image has been tainted by a poor economic performance and the slow pace of legislative changes.

(Read more: Why India's state elections matter)

Modi, the prime ministeriaal candidate of the BJP who is currently serving as the chief minister of Gujarat, has been applauded for his investor-friendly policies that have led the state to double-digit economic growth.

"The perception is that Modi is more pro-market, (that) Modi is more pro-reform and therefore he could do it," Nizam Idris, head of fixed income and currency strategy at Macquarie, told CNBC.

"However, he also has a history of being divisive. BJP has been divisive. Historically there were even riots in the place that he was a governor," he added. "You need to be a bit more cautious here. It's easy to promise things, but harder to deliver, especially in India."

(Read more: 'Universal' frustration with pace of India reforms: Hero CEO)

 Others also have doubts about the wave of optimism spurred by the prospect of a BJP victory.

"I've been surprised by a lot of our clients, how positive they've been," said Timothy Riddell, head of global markets research for Asia at ANZ.

"Whether he can really get a majority is going to be key. The assumptions that a lot of our clients, especially in Europe, are talking about is he's going to sweep in with a huge majority. We don't really see that as being likely," Riddell told CNBC.

(Watch: India's ruling Congress party on backfoot: Expert)

"You could get into a scenario where he comes in talking a bullish story but he can't actually get anything through," he said.

Indeed, BJP's success in state elections hasn't always translated well to a national stage. In 2003, the BJP performed well in the state elections, but lost the national elections held a few months later in 2004.

"He's actually got quite destabilizing policies. He can alienate quite a large section of the Indian community," Riddell said. "His approach toward ethnic diversity is not really what we'd want to see in a country like India," he said.

(Read more: India's Rajan in tough spot as stagflation risk emerges)

The stakes are high as India faces a rocky economic outlook, with concerns stagflation -- where accelerating inflation is not met by higher growth rates -- might emerge.

Recent data such as industrial production – which contracted 1.8 percent year-on-year in October following a 2.0 percent rise in the previous month – have raised concerns over the growth outlook. Consumer prices, meanwhile, rose at their fastest annual pace on record at 11.2 percent, from 10.1 percent in the previous month.

For investors, the question may also be whether all this optimism has already been priced in by the markets' steady recovery since the May-to-September volatility after the U.S. Federal Reserve initially broached its plan to begin tapering its asset purchases, leading to fund outflows.

(Read more: India market euphoria could end in disappointment)

The US dollar is now fetching around 61.76 rupees, down from a record high just shy of 70 touched in late August, as the Indian currency strengthened.

India's Sensex stock index has also gone from being one of the region's worst performing to touching a record high of 21,483.74 in the wake of the BJP's state election win. The index closed Tuesday at 21,032.71, marking a more than 8 percent gain for the year.



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BSE Sensex up, Nifty flat; Bharti, BHEL, Bajaj Auto gainers

09:19

Moneycontrol Bureau
Live Market Commentary 
The market has opened in the green territory. The Sensex is up 26.86 points at 21059.57, and the Nifty is up 1.70 points at 6270.10. About 316 shares have advanced, 82 shares declined, and 27 shares are unchanged.

The Indian rupee opened flat at 61.85 per dollar versus 61.80 Tuesday.The dollar hit a five-year high against the yen on Thursday and held firm against other currencies on expectations the US economy will continue a solid recovery, allowing the Federal Reserve to gradually withdraw its stimulus next year.

Asian markets extended the week's gain on strong retail buying. Nikkei has raced to a fresh 6-year high in early trade supported by a weaker yen. Investors are now eyeing Shanghai post the release of Beijing's five-year plan to fight corruption.

In the currency space, the dollar hit a five-year high against the yen on Thursday and held firm against other currencies on expectations the US Economy will continue a solid recovery, allowing the federal reserve to gradually withdraw its stimulus next year.

In commodities, crude prices inch up in early trade with Brent nearing USD 112 per barrel with Nymex trading below USD 100 per barrel. From precious metals space, gold id trading above USD 1200 although a tad weak,  while silver is down a quarter of a percent 



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Equities up, aided by US manufacturing data; dollar higher

Written By Unknown on Rabu, 25 Desember 2013 | 10.54

US shares edged higher into record territory on Tuesday, backed by stronger-than-expected manufacturing data that in turn spurred US Treasury yields to 2-1/2 year highs on a belief the economy is on a sustained path of recovery.

In thin pre-Christmas holiday trading, the positive economic data contributed to gains for the US dollar against its major trading partners such as the euro zone and Japan.

An errant trade sent copper prices to their highest level since April in New York COMEX trade, a source familiar with the matter told Reuters. Prices were adjusted down after the discovery of the error, the source said.

US share prices posted modest gains. The Dow Jones industrial average rose 62.94 points or 0.39 percent, to close at a record 16,357.55. The S&P 500 gained 5.33 points or 0.29 percent, to hit a record 1,833.32. The Nasdaq Composite added 6.513 points or 0.16 percent, to finish at 4,155.417. The US stock markets closed early at 1 p.m. EST.

"Investors have taken their positions for the year, so what we're seeing is a market pause to digest the very strong rally we've had," said Adam Sarhan, chief executive of Sarhan Capital in New York.

US durable goods orders for November surged 3.5 percent on rising demand for goods across a spectrum of industries, from aircraft to machinery and computers and electronic products.

In a second report, government data showed November new home sales fell from a five-year high, dropping by 2.1 percent. However, October's sales were revised to their highest level since July 2008.

The stronger economic data supports the US Federal Reserve's decision last week to start trimming its monthly bond purchases as the economy might be gathering more upward momentum into early 2014.

"The path of least resistance right now is lower bond prices and higher yields," said John Brady, managing director of interest rate futures sales at R.J. O'Brien and Associates in Chicago.

In thin trade, the benchmark 10-year US Treasury bond fell 13/32 of a point in price, driving the yield up to 2.98 percent and just shy of a 2-1/2 year high.

ASIAN AND EUROPEAN SHARES RISE

Japanese equity prices hit a six-year closing high of 15,889.33, putting the Nikkei on track for its best year since 1972.

Shares in Shanghai closed with modest gains, with an early rise cut down by weak banking stocks.

The People's Bank of China injected funds through normal channels for the first time in three weeks, although traders warned that conditions remained tense.

"The relief is quite palpable after the cash injection by the PBOC today," said Jackson Wong, Tanrich Securities vice-president for equity sales.

Much of Europe's stock markets were closed ahead of the holiday. The euro zone blue chip Euro STOXX 50 rose 0.06 percent on Tuesday but rose 4.5 percent in the five days leading into the Christmas break. That's the best week before the holiday since 1999, Thomson Reuters data showed.

In the currency markets, the U.S. dollar index, a measure of the greenback's value against a basket of six currencies, rose 0.09 percent to 80.531 in thin trading. The euro fell 0.17 percent to USD 1.3673.

GOLD SET FOR BIGGEST ANNUAL LOSS IN 32 YEARS

Gold edged higher as bargain hunters appeared after prices fell to six-month lows of around USD 1,200 an ounce. US gold futures' benchmark February contract settled up 0.5 percent at USD 1,203.30.

However, the improving global economic environment, coupled with a rally on world stock markets, has driven investors away from traditional safe-haven assets such as gold. For the year, gold is down 28 percent and set for its biggest annual decline in 32 years.

In the oil markets, civil unrest in South Sudan pushed Brent crude USD 112 a barrel. US oil futures rose 0.26 percent to USD 99.17 a barrel.



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Indian ADRs: Infosys, Dr Reddy's Labs gain; Wipro falls

Indian ADRs closed mixed on Tuesday. Among technology stocks, Infosys rose 0.47 percent to USD 57.15 per ADR while Wipro fell 0.48 percent to USD 12.55.

In the banking space, ICICI Bank advanced 0.38 percent to USD 36.70 and HDFC Bank added 0.09 percent to USD 34.60.

Among others, Dr Reddy's Labs went up 0.56 percent to USD 41.19 whereas Tata Motors slipped 0.26 percent to USD 30.49.



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BSE Sensex, Nifty flat; Infosys falls 1%, banks weak

Written By Unknown on Senin, 23 Desember 2013 | 10.54

09:19

Moneycontrol Bureau
Live Market Commentary
The market has opened on a flat note. The Sensex is up 7.15 points at 21086.87, and the Nifty down 3.30 points at 6270.95. About 293 shares have advanced, 93 shares declined, and 16 shares are unchanged.

Top management exodus at Infosys continues as V Balakrishnan, director, resigned to start his own private equity firm. This is the eight top level exit at Infosys since June. Balakrishnan told CNBC-TV18 that his exit has nothing to do with Narayana Murthy's return.

Indian rupee opened at 62.07 against the US dollar on Monday, down 3 paise compared to Friday's closing value of 62.04 per dollar. The dollar index held above the 80.50 mark. Meanwhile the dollar-yen continued to trade around 104 level.

In commodities, Brent Crude prices rise with Nymex following suit, supported by refinery outages in the United States that will boost the need for gasoline imports linked to the global benchmark, and on reduced Libyan supply.

And from the precious metals space, gold ticked up on Monday after its biggest weekly loss in a month, but the metal was still at the risk of falling back below USD 1,200 an ounce as investors fretted over the impact of a US stimulus tapering.

The US gross domestic product (GDP) for Q3 came in better-than-expected propelling the markets higher and the Dow and S&P 500 closed at record highs. The US markets notched up 2-3 percent gains for the week. European markets too record their best week in eight months and Asian markets opened modestly higher in early trade.



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Ganeshaspeaks: Market prediction for December 23

By Shri Dharmesh Joshi of Ganeshaspeaks

Consider 10 minutes plus and minus in each prediction, and act accordingly.

Ganesha advises you to compare every prediction with the prediction of the previous time slot.

Avoid any transaction during the initial half an hour on 23rd, 24th and 25th December and do not consider the opening points while taking decisions. Ganesha feels that Nifty will maintain its strength till 10:30.

From 10:30 t0 12:10, Nifty may be down.

From 12:10 to 15:30, Nifty may create a mixed trend or remain flat.

\\

Shri Dharmesh Joshi is a protege of Bejan Daruwalla and belongs to the team of astrologers declared as official successors to his astrological legacy, by none other than Bejan Daruwalla himself, in an event in Mumbai on the 23rd Nov, 2009.

Disclaimer: The views and investment tips expressed by investment experts/astrologers on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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UPA did more than any other govt to fight corruption: Rahul

Written By Unknown on Minggu, 22 Desember 2013 | 10.54

Congress vice-president Rahul Gandhi addressed a Ficci conference in New Delhi on Saturday.

Also Read: Jayanthi Natarajan quits as Union Minister for 'party work'

Below are the highlights:

- Admit that Congress party did not do well in Assembly Elections

- Completely in agreement for need of regulatory system

- Projects do take time to get approval in current system

- CCI approved a large number of projects in the recent past

- Biggest issue we face today is corruption

- Parliament took a landmark step by passing Lokpal Bill

- UPA did more than any other government to fight corruption

- Many revolutionary bills still pending before Parliament

- Indian education system does not do justice to its talents

- Have to take steps to empower business engine and people

- Investments in food security will not drag economy

- Poverty cannot be fought without growth

- Need to take steps to reform power sector

- Have to open up manufacturing sector and foster competition

- UPA made huge investments in micro nutrients and micro irrigations

- Beating inflation is our top priority

- Society cannot be built on injustice

- Investments in social sector schemes is not a drag on economy

- 3rd of Indian population came out of poverty in the last 10 years

- Must target raising manufacturing to 25% of GDP

- There is a cost to not having Land Bill

- Cannot allow environment to be plundered

- Need to be careful on use of natural resources

- Complete arbitrary power is the cause of concern

- Land Acquisition Bill brings transparency, will benefit industry

- We need to build value like Google

- Indian IT sector needs to move up the value chain

- We need to increase access to education



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Winter Solstice- Shortest day of the year in India

With fog in India extending up to Madhya Pradesh and Kolkata, those gasping for more daylight have good news. Today, countries in the Northern Hemisphere will witness winter solstice, which marks the shortest day and the longest night of the year as the sun reaches its southernmost point in the sky.

Officially, winter solstice marks the first day of the winter season. It is an astronomical phenomenon, occurring every year in December. The Sun`s elevation with respect to Earth has reached its lowest value with the North and South Pole of the Earth observing the longest night and the longest day, respectively. From now on, days will become longer in the Northern Hemisphere, bringing some respite to cities engulfed in fog in India.

After successive days of widespread fog in North India and Rajasthan, Kolkata is the latest city to be under its grip. Kolkata experienced the first fog of the season on Saturday morning. Fog has subsided in the northern plains but enveloped parts of Madhya Pradesh, including Bhopal and Gwalior.

Some facts about winter solstice

The term 'solstice' is derived from the Latin words 'sol' meaning Sun and 'sisto' which means 'stop.' On this day the Sun stops moving southward, pauses and begins its journey northward. The winter solstice occurs due to the Earth's axis of rotation. The Sun on this day is at the southernmost point in the sky, i.e. 23.5 degrees south of the Tropic of Cancer. The day is shortest in the Northern Hemisphere but that does not make it the coldest day of the year as well.  

picture courtesy- durangoarts.org

By: Skymetweather.com



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Oil rises, gasoline higher on refinery outages

Written By Unknown on Sabtu, 21 Desember 2013 | 10.54

Oil prices rose and gasoline futures hit a three-month high on Friday, fueled by spread trading and supply concerns.

A string of glitches at US refineries and strikes at four Total refineries in France lifted US RBOB gasoline futures 1.5 percent, and they touched the highest level since early September.

"We have strong demand going into the holiday. We're expecting record holiday travel, so we're going to use more gasoline," said Phil Flynn, an energy analyst at Price Futures Group in Chicago.

Further support came as data showed the US economy grew at its fastest pace in almost two years in the third quarter, signaling potentially stronger fuel demand.

Gains in international benchmark Brent crude outpaced those in US oil futures. Market players said the narrowing in Brent's premium to US crude to USD 10 a barrel earlier this week had been overdone.

"The strength in Brent is tied toward pushing that spread out," said Addison Armstrong, director of market research at Tradition Energy in Stamford, Connecticut.

Brent crude gained USD 1.48 to settle at USD 111.77 a barrel. The crack, or difference, between Brent crude oil futures and gasoline widened to a more than three-month high of USD 5.70 per barrel.

US oil settled up 28 cents at USD 99.32 a barrel.

Speculators added bullish bets to their US crude futures and options positions in the week to December 17, the US Commodity Futures Trading Commission said on Friday.

Brent prices were also underpinned by continuing disruption in Libya, where crude exports have dropped to 110,000 barrels per day (bpd) from more than 1 million bpd in July.

The OPEC producer is stepping up fuel imports as a mix of militias, tribesmen and civil servants demanding political rights, or a greater share of Libya's oil wealth, have occupied several oilfields and ports.

Violence in South Sudan threatened to disrupt oil production in the two-year-old nation as fighting reached vital oilfields.

China National Petroleum Co, a leading oil investor in South Sudan, said on Friday it was evacuating oil workers from its oilfields to the capital, Juba.



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With Fed out of the way, what's next on Wall Street?

With the US Federal Reserve finally announcing it will start tapering its stimulus, removing a big uncertainty in the market, can Wall Street expect a stronger finish to the year? Not really.

The "Santa Claus rally" is a seasonal anomaly that describes a rise in stock prices in December, generally over the final week of trading prior to the new year.

The benchmark S&P 500's average gain during the last five days of December and the first two of January is about 1.5 percent since 1950, according to Stock Trader's Almanac. The equities market has gone up in December about 80 percent of the time for the past 20 years.

Although the S&P 500 is up just about 1 percent so far this month, the index is up about 27 percent for the year and is on track for its biggest gain since 1997.

"It's been a strong year, and I wouldn't be surprised if investors closed out their year today," said Doug Foreman, co-chief investment officer of Kayne Anderson Rudnick Investment Management.

"There isn't much room or news to move higher from here until next year."

Stocks rallied sharply this week, with the Dow and the S&P 500 closing at records on Friday, following the Fed's mid-week announcement it will reduce its USD 85 billion monthly bond purchases by USD 10 billion.

For the week, the Dow gained 3.1 percent, the S&P 500 was up 2.5 percent and the Nasdaq added 2.6 percent.

Trading volume this week was also below average as many investors had already locked in their gains for the year ahead of the holidays.

"There's a lot of transparency in the market, but most of the noise has already been made. We should expect to continue seeing light volume and not much selling as we go into next week," said Mark Martiak, senior wealth strategist Premier Wealth/First Allied Securities in New York.

"We're selling our winners and looking to see what sectors could be the ones to be in next year. I like cyclical and industrials. I want to see the news post-holiday season before I start to recommend defensive names."

With Christmas and New Year's holidays in the middle of the week, trading volume is likely to be lower than previous years. The New York Stock Exchange will close early at 1 p.m. ET on Tuesday and will remain closed for Christmas day.

Analysts say next week will be a start of investors finally shifting focus to the fundamentals of the economy, like economic reports and corporate earnings.

"With the Fed out of the way now, the market is going to move back to making more rational decisions and focus on what really matters in the economy," said Scott Clemons, chief investment strategist at Brown Brothers Harriman Wealth Management.

"Fourth-quarter earnings will start coming in January and the market's full focus will be on those numbers and outlooks."

Economic data due next week include personal income and outlays at 8:30 a.m. ET on Monday. Tuesday's data include durable goods orders at 8:30 a.m. ET and new home sales at 10:00 a.m. ET. On Thursday, weekly jobless claims will be released at 8:30 a.m. ET.



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Coastal Corporation's board meeting on Dec 23, 2013

Written By Unknown on Jumat, 20 Desember 2013 | 10.54

Dec 20, 2013, 09.15 AM IST

Coastal Corporation has informed that a meeting of the Board of Directors of the Company will be held on December 23, 2013, to consider and issue Share Certificates to partly paid up Shareholders of the Company who has paid full amount.

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Coastal Corporation's board meeting on Dec 23, 2013

Coastal Corporation has informed that a meeting of the Board of Directors of the Company will be held on December 23, 2013, to consider and issue Share Certificates to partly paid up Shareholders of the Company who has paid full amount.

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Coastal Corporation's board meeting on Dec 23, 2013

Coastal Corporation has informed that a meeting of the Board of Directors of the Company will be held on December 23, 2013, to consider and issue Share Certificates to partly paid up Shareholders of the Company who has paid full amount.

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Coastal Corporation Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on December 23, 2013, inter alia, to transact the following business :1. To review the Operations of the Company.2. To consider and issue Share Certificates to partly paid up Shareholders of the Company who has paid full amount.3. To consider and reject the calls-in-arrears money received from the shareholders of the Company for an amount of Rs. 5/- and Rs. 10.50 instead of Rs. 21/- (allotment Rs. 5/- with interest Rs. 16/-).4. To consider and take steps for Forfeiture of Equity Shares of the company of those shareholders who have failed to pay the call in arrears amount.5. To consider and re-issue the partly paid-up shares to the existing shareholders of the Company or others.6. To discuss the matter relating to Toll Gate Contract at Port Connectivity Road Visakhapatnam.Source : BSE

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Indian rupee opens at 62.39 per dollar; slips 27 paise

The Indian rupee slipped in the early trade today. It has opened lower by 27 paise at 62.39 per dollar versus 62.12 Thursday.

The dollar index gains to 80.7 levels, while the euro is a tad subdued and the yen faces pressure in early trade ahead of the outcome of a Bank of Japan meeting at which policymakers were expected to maintain their commitment to ultra-easy monetary policy.

Also Read - Interest rates on hold; future hikes likely: CRISIL

Himanshu Arora, Religare said that, "Rupee expected to lose versus dollar in short-term as US Fed's decision to commence tapering of bond buying program is expected to hammer the rupee."
 
"Month-end dollar buying by oil companies will also keep the rupee under further pressure. Range for rupee seen between 61.94 -62.55/dollar," he added.



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HDFC Bank: Updates on increasing foreign shareholding limit

Written By Unknown on Kamis, 19 Desember 2013 | 10.54

Dec 19, 2013, 09.16 AM IST

Since the total foreign shareholding in HDFC Bank (FII and FDI) has crossed 49 percent, the Bank has filed an application with the Foreign Investment Promotion Board (FIPB) seeking approval for increasing its foreign shareholding limit, in accordance with the now prevailing guidelines.

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HDFC Bank: Updates on increasing foreign shareholding limit

Since the total foreign shareholding in HDFC Bank (FII and FDI) has crossed 49 percent, the Bank has filed an application with the Foreign Investment Promotion Board (FIPB) seeking approval for increasing its foreign shareholding limit, in accordance with the now prevailing guidelines.

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HDFC Bank: Updates on increasing foreign shareholding limit

Since the total foreign shareholding in HDFC Bank (FII and FDI) has crossed 49 percent, the Bank has filed an application with the Foreign Investment Promotion Board (FIPB) seeking approval for increasing its foreign shareholding limit, in accordance with the now prevailing guidelines.

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HDFC Bank Ltd has informed BSE that:"We refer to a Press Release issued by the Reserve Bank of India notifying that the foreign shareholding through Foreign Institutional Investors (FIIs)/Non Resident Indians(NRI)/Persons of Indian Origin (PIO)/Foreign Direct Investment (FDI)/ADRs/GDRs in HDFC Bank Limited has crossed the overall limit of 49% of its paid-up capital and that no further purchases of shares of HDFC Bank Limited would be allowed through stock exchanges in India on behalf of FII/NRI/PIO/FDI/ADRs/GDRs.The foreign shareholding in the Bank as on December 13, 2013 was 52.18% of its paid-up capital. This includes investments through the FDI route in ADRs/GDRs of 17.01% which were raised in accordance with the then applicable guidelines, and other foreign holdings made under the FII route of 35.17%. Necessary approval from the shareholders is in place for FII investments up to 49%.Since the total foreign shareholding in the Bank (FII and FDI) has crossed 49%, the Bank has filed an application with the Foreign Investment Promotion Board (FIPB) seeking approval for increasing its foreign shareholding limit, in accordance with the now prevailing guidelines."Source : BSE

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Devyani was not handcuffed or mistreated: US Attorney

Hours after US Secretary of State John Kerry finally expressed regret over the treatment meted out to Indian diplomat Devyani Khobragade, the US Attorney prosecuting the case, Preet Bharara, has denied claims that she was mistreated. In a statement issued, he has said that she was not arrested in public and that she was not handcuffed.

Bharara, in fact, said that Devyani was accorded courtesies that are generally not given to most Americans. Bharara went to the extent of saying that she was even allowed to make personal phone calls before she was arrested and the arresting officers even offered to get her refreshments.

Also Read: India shifts Devyani Khobragade to UN Mission

But Bharara maintained that the strip-search was standard operating procedure and that it was done by a female Deputy Marshal.

Bharara in his statement said, "Ms Khobragade was accorded courtesies well beyond what other defendants, most of whom are American citizens, are accorded. She was not, as has been incorrectly reported, arrested in front of her children. The agents arrested her in the most discreet way possible, and unlike most defendants, she was not then handcuffed or restrained. In fact, the arresting officers did not even seize her phone as they normally would have. It is true that she was fully searched by a female Deputy Marshal in a private setting but this is standard practice for every defendant, rich or poor, American or not."

This after the US Secretary of State John Kerry expressed regret but stopped short of apologising. Kerry called India's National Security Advisor Shivshankar Menon and expressed his regret over the arrest and strip search of Indian Deputy Consul General Devyani Khobragade in New York City.

State Department Deputy Spokeswoman Marie Harf said Kerry called Menon, who has slammed the diplomat's treatment as, in his words, "despicable and barbaric."

Meanwhile, Foreign Secretary Sujata Singh spoke to US Under Secretary Wendy Sherman over the issue. Harf said Kerry believes it's important for foreign diplomats serving in the United States to be treated with respect.

She said Kerry expressed his regret and said he hoped the incident would not damage the close relationship the US has with India.

On Wednesday, the incident witnessed a dramatic twist following India's allegations against the US for the arrest of Devyani in an alleged case of visa fraud related to her domestic help Sangeeta Richards. With the New York publicly arresting, strip searching and locking Devyani up with common criminals, India shifted her to the United Nations Permanent Mission in New York to ensure diplomatic immunity.

Devyani will have to apply for UN accreditation which in turn will need US State Department's approval but the Ministry of External Affairs sees no obstacle in it. Now she will get full diplomatic immunity, not the limited one as a consular official.

External Affairs Minister Salman Khurshid said, "We are confident that our message which is loud and clear will be heard, we are two countries which have good relations. An aberration of this kind and departure from past is something we wouldn't want."

Prime Minister Manmohan Singh called the treatment meted out to Devyani as 'deplorable'. The matter echoed in Parliament and MPs cutting across the party lines slammed the US authorities for illtreating and humiliating her.

As more details emerged questions were raised over the US government's role in the whole matter. According to Indian officials the immigration fraud was carried out by Sangeeta Richards and not Devyani. Richards's husband and two children flew out of India on Air India 101 to New York on December 10 after they had got visas from US authorities and the entire thing was planned by US Department of Justice two days before Devyani was arrested.

In June 2013, Indian government had complained to the US over Richards disappearance. In September 2013, the MEA had helped Devyani in filing a case in the High Court and get injunction, warrant against Sangeeta.

But the visas were issued despite India's warning to the US about a warrant and court injunction against Richards's husband.

Full text of US Attorney Preet Bharara's statement:

There has been much misinformation and factual inaccuracy in the reporting on the charges against Devyani Khobragade. It is important to correct these inaccuracies because they are misleading people and creating an inflammatory atmosphere on an unfounded basis. Although I am quite limited in my role as a prosecutor in what I can say, which in many ways constrains my ability here to explain the case to the extent I would like, I can nevertheless make sure the public record is clearer than it has been thus far.

First, Ms. Khobragade was charged based on conduct, as is alleged in the Complaint, that shows she clearly tried to evade US law designed to protect from exploitation the domestic employees of diplomats and consular officers. Not only did she try to evade the law, but as further alleged, she caused the victim and her spouse to attest to false documents and be a part of her scheme to lie to US government officials. So it is alleged not merely that she sought to evade the law, but that she affirmatively created false documents and went ahead with lying to the US government about what she was doing. One wonders whether any government would not take action regarding false documents being submitted to it in order to bring immigrants into the country. One wonders even more pointedly whether any government would not take action regarding that alleged conduct where the purpose of the scheme was to unfairly treat a domestic worker in ways that violate the law. And one wonders why there is so much outrage about the alleged treatment of the Indian national accused of perpetrating these acts, but precious little outrage about the alleged treatment of the Indian victim and her spouse?

Second, as the alleged conduct of Ms. Khobragade makes clear, there can be no plausible claim that this case was somehow unexpected or an injustice. Indeed, the law is clearly set forth on the State Department website. Further, there have been other public cases in the United States involving other countries, and some involving India, where the mistreatment of domestic workers by diplomats or consular officers was charged criminally, and there have been civil suits as well. In fact, the Indian government itself has been aware of this legal issue, and that its diplomats and consular officers were at risk of violating the law. The question then may be asked: Is it for US prosecutors to look the other way, ignore the law and the civil rights of victims (again, here an Indian national), or is it the responsibility of the diplomats and consular officers and their government to make sure the law is observed?

Third, Ms. Khobragade, the Deputy General Consul for Political, Economic, Commercial and Women's Affairs, is alleged to have treated this victim illegally in numerous ways by paying her far below minimum wage, despite her child care responsibilities and many household duties, such that it was not a legal wage. The victim is also alleged to have worked far more than the 40 hours per week she was contracted to work, and which exceeded the maximum hour limit set forth in the visa application. Ms. Khobragade, as the Complaint charges, created a second contract that was not to be revealed to the US government, that changed the amount to be paid to far below minimum wage, deleted the required language protecting the victim from other forms of exploitation and abuse, and also deleted language that stated that Ms. Khobragade agreed to "abide by all Federal, state, and local laws in the US" As the Complaint states, these are only "in part" the facts, and there are other facts regarding the treatment of the victim - that were not consistent with the law or the representations made by Ms. Khobragade -- that caused this Office and the State Department, to take legal action.

Fourth, as to Ms. Khobragade's arrest by State Department agents, this is a prosecutor's office in charge of prosecution, not the arrest or custody, of the defendant, and therefore those questions may be better referred to other agencies. I will address these issues based on the facts as I understand them. Ms. Khobragade was accorded courtesies well beyond what other defendants, most of whom are American citizens, are accorded. She was not, as has been incorrectly reported, arrested in front of her children. The agents arrested her in the most discreet way possible, and unlike most defendants, she was not then handcuffed or restrained. In fact, the arresting officers did not even seize her phone as they normally would have. Instead, they offered her the opportunity to make numerous calls to arrange personal matters and contact whomever she needed, including allowing her to arrange for child care. This lasted approximately two hours. Because it was cold outside, the agents let her make those calls from their car and even brought her coffee and offered to get her food. It is true that she was fully searched by a female Deputy Marshal -- in a private setting -- when she was brought into the US Marshals' custody, but this is standard practice for every defendant, rich or poor, American or not, in order to make sure that no prisoner keeps anything on his person that could harm anyone, including himself. This is in the interests of everyone's safety.

Fifth, as has been reported, the victim's family has been brought to the United States. As also has been reported, legal process was started in India against the victim, attempting to silence her, and attempts were made to compel her to return to India. Further, the Victim's family reportedly was confronted in numerous ways regarding this case. Speculation about why the family was brought here has been rampant and incorrect. Some focus should perhaps be put on why it was necessary to evacuate the family and what actions were taken in India vis-a-vis them. This Office and the Justice Department are compelled to make sure that victims, witnesses and their families are safe and secure while cases are pending.

Finally, this Office's sole motivation in this case, as in all cases, is to uphold the rule of law, protect victims, and hold accountable anyone who breaks the law - no matter what their societal status and no matter how powerful, rich or connected they are.



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Kalindee Rail: Post open offer status by Texmaco Rail Engg

Written By Unknown on Rabu, 18 Desember 2013 | 10.54

Dec 18, 2013, 09.17 AM IST

Texmaco Rail & Engineering has acquired 20,51,318 equity shares of Kalindee Rail Nirman (Engineers) via open offer.

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Kalindee Rail: Post open offer status by Texmaco Rail & Engg

Texmaco Rail & Engineering has acquired 20,51,318 equity shares of Kalindee Rail Nirman (Engineers) via open offer.

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Kalindee Rail: Post open offer status by Texmaco Rail & Engg

Texmaco Rail & Engineering has acquired 20,51,318 equity shares of Kalindee Rail Nirman (Engineers) via open offer.

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ICICI Securities Ltd ("Manager to the Open Offer"), for and on behalf of the Texmaco Rail & Engineering Limited ("Acquirer") has informed this Post Offer Public Announcement to the Equity Shareholders of Kalindee Rail Nirman (Engineers) Ltd ("Target Company"), in connection with the Offer, in compliance with Regulation 18(12) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("SEBI (SAST) Regulations, 2011"). The Detailed Public Statement ("DPS") with respect to the aforementioned Offer was made on July 26, 2013.Source : BSE

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Texmaco Rail: Updates on post offer offer status

Dec 18, 2013, 09.18 AM IST

Texmaco Rail & Engineering has acquired 20,51,318 equity shares of Kalindee Rail Nirman (Engineers) via open offer.

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Texmaco Rail: Updates on post offer offer status

Texmaco Rail & Engineering has acquired 20,51,318 equity shares of Kalindee Rail Nirman (Engineers) via open offer.

Like this story, share it with millions of investors on M3

Texmaco Rail: Updates on post offer offer status

Texmaco Rail & Engineering has acquired 20,51,318 equity shares of Kalindee Rail Nirman (Engineers) via open offer.

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ICICI Securities Ltd ("Manager to the Open Offer"), for and on behalf of the Texmaco Rail & Engineering Limited ("Acquirer") has informed this Post Offer Public Announcement to the Equity Shareholders of Kalindee Rail Nirman (Engineers) Ltd ("Target Company"), in connection with the Offer, in compliance with Regulation 18(12) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("SEBI (SAST) Regulations, 2011"). The Detailed Public Statement ("DPS") with respect to the aforementioned Offer was made on July 26, 2013.Source : BSE

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US to spend $14 mn on concussion research, using NFL funds

Written By Unknown on Selasa, 17 Desember 2013 | 10.54

US researchers on Monday unveiled a USD 14 million series of research projects aimed at diagnosing and treating brain injuries in football players and others who have suffered multiple head injuries or concussions.

The projects, partly funded by the National Football League, are aimed at chronic traumatic encephalopathy, or CTE, a condition linked to the loss of decision-making control, aggression and dementia. The condition is tied to repeated hits to the head, such as those experienced by football players, hockey players and boxers.

The condition currently can be diagnosed only by examining a person's brain after their death. But researchers with the National Institutes of Health aim to develop tests to detect and treat CTE while the patient is alive.

"This is a public health problem," said Walter Koroshetz, deputy director of the NIH's National Institute of Neurological Disorders and Stroke. "We don't know the mechanics of the head injuries that lead to this, the number and severity that is required to get this. We don't know whether certain people based on their genes are more susceptible or not. There are a lot of questions to be answered."

The NFL in August agreed to pay up to USD 765 million to settle a lawsuit brought by thousands of former players, many suffering from dementia and other health problems, who accused the league of covering up the risks of brain injury.

The league is paying USD 12 million of the allocated USD 14 million in research, the rest of which will be funded by the NIH. The USD 14 million comes from USD 30 million in research funding the NFL made available to the NIH in 2012.

The research is not focused just on football players, but any people who engage in activities in which they suffered head injury.

Researchers say they also hope to better understand the potential relationship between traumatic brain injury and late-life neurodegenerative disorders, especially Alzheimer's disease.

Two of the new research projects will focus on defining the long-term changes that occur in the brain years after a head injury or after multiple concussions. Ten neuropathologists from eight universities will work to describe the chronic effects of head injury in tissue taken from hundreds of individuals as they try to develop standards for diagnosis.

Six pilot projects will aim to identify potential biomarkers that can be used to track a person's recovery from concussion.

One of the pilot projects will focus on sports concussions in adolescents. Researchers will examine the effects of sports-related concussions on brain structure and function one month following injury in adolescents who have been cleared to resume playing their chosen sports.

Previous published research has found that former American football players have higher rates of neurodegenerative diseases such as Alzheimer's and Parkinson's disease. There has also been violent and erratic behavior noted among current and former NFL players, including a spate of suicides.

This month, the family of former Kansas City Chiefs' linebacker Jovan Belcher had his body exhumed so his brain could be studied for signs of CTE. Belcher killed his girlfriend and then himself last year.

Also earlier this month, five former players for the Kansas City Chiefs football team sued the Chiefs, claiming to be suffering from CTE because of multiple concussions suffered while playing for the team.



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See Apollo Tyres above Rs 100/shr on US court ruling: Quant

Quant Capital analyst Basudeb Banerjee expects  Apollo Tyres to top Rs 100 near term following the Delaware Court's ruling in the in the Cooper Tire case.

The Court yesterday dismissed Cooper Tire's appeal against Apollo Tyres' demand for reducing the purchase cost.

According to a report in the Wall Street Journal, the latest ruling now puts the matter back in the Lower State Court, and Cooper Tire needs to get a favourable ruling by December 31 for the acquisition to proceed on the original terms first announced in June this year.

Apollo Tyres is down 5 percent so far this calendar and has underperformed peers in the domestic tyre industry by a wide margin. Concerns that the proposed acquisition of Cooper was expensive and value-destructive led to investors ignoring Apollo Tyres even as shares of other tyre companies rallied on falling rubber prices.

Banerjee feels that it is better for Apollo shareholders if the company decides to walk out of the deal.

He sees Rs 120 as a fair value for the stock.



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Shaily Engineering; Updates on outcome of EGM

Written By Unknown on Senin, 16 Desember 2013 | 10.54

Dec 16, 2013, 09.13 AM IST

Shaily Engineering Plastics Ltd has submitted a copy of Minutes of the Extraordinary General Meeting of the members of the Company held on November 14, 2013.

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Shaily Engineering; Updates on outcome of EGM

Shaily Engineering Plastics Ltd has submitted a copy of Minutes of the Extraordinary General Meeting of the members of the Company held on November 14, 2013.

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Shaily Engineering; Updates on outcome of EGM

Shaily Engineering Plastics Ltd has submitted a copy of Minutes of the Extraordinary General Meeting of the members of the Company held on November 14, 2013.

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Shaily Engineering Plastics Ltd has submitted to BSE a copy of Minutes of the Extraordinary General Meeting of the members of the Company held on November 14, 2013.Source : BSE

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China flash HSBC PMI slows to 3-month low

China's manufacturing activity slowed to a three-month low in December, a survey from HSBC showed Monday.

The HSBC flash purchasing managers' index (PMI) fell to 50.5 for the month, compared to 50.8 in November. Growth in new order and new export orders increased at a faster rate, while employment decreased at a faster rate.

Still, the figure has remained above the 50 mark, which demarcates expansion from contraction, for five months now.

"I think it's still broadly optimistic. I think firms are still mildly on the expansionary side," Alaistair Chan, economist at Moody's Analytics, told CNBC.

"If you look at the official numbers for instance, I think both domestic and export-oriented firms are still seeing rising orders and rising production so through until the end of the year, I think they are in a fairly sweet spot. I don't see much pressure coming from the demand side so I think firms will be quite happy heading into the holiday season," he added.

The Australia dollar, which is highly sensitive to Chinese data because of its dependence on the mainland in exports, slipped 0.3 percent to inch closer to a new three-and-a-half month low against the greenback.

The benchmark Shanghai Composite extended losses, trading within sight of a new two-week low.

Hongbin Qu, chief China economist and co-head of Asian economic research at HSBC, said December's flash reading stands above the average for the third quarter.

This implies that the recovery in the manufacturing sector remains in tact, Hongbin said, adding that he expects the country's gross domestic product (GDP) growth to stabilize at 7.8 percent in the fourth quarter.

The survey covered a shortened period from December 5 to 12, given the upcoming holiday season. The final reading will be released on January 2.



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Textile Conclave 2013

Written By Unknown on Minggu, 15 Desember 2013 | 10.54

Dec 14, 2013, 05.28 PM IST

For modernization and upgradation of exiting units the government introduced the technology upgradation fund scheme. Textile units across various states has immensely benefited under the technology upgradation fund scheme which has disbursed over Rs 74627 crore since its inception.

Tags  textile, employment, FDI, Budget

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Textile Conclave 2013

For modernization and upgradation of exiting units the government introduced the technology upgradation fund scheme. Textile units across various states has immensely benefited under the technology upgradation fund scheme which has disbursed over Rs 74627 crore since its inception.

Like this story, share it with millions of investors on M3

Textile Conclave 2013

For modernization and upgradation of exiting units the government introduced the technology upgradation fund scheme. Textile units across various states has immensely benefited under the technology upgradation fund scheme which has disbursed over Rs 74627 crore since its inception.

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For modernization and upgradation of exiting units the government introduced the technology upgradation fund scheme. Textile units across various states has immensely benefited under the technology upgradation fund scheme which has disbursed over Rs 74627 crore since its inception.


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Artha Energy project to build its portfolio to 25MW in 2yrs

Dec 14, 2013, 05.32 PM IST

Anirudh Damani is a serial entrepreneur and angel investor. He has been investing since 2008 with the Dallas Angel Network, The Mumbai Angel's, The Indian Angel Network and Venture Nursery.

Tags  Anirudh Damani, Dallas Angel Network, The Mumbai Angel's, The Indian Angel Network, Venture Nursery, Artha Venture Partners, K Damani Group of Companies

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Artha Energy project to build its portfolio to 25MW in 2yrs

Anirudh Damani is a serial entrepreneur and angel investor. He has been investing since 2008 with the Dallas Angel Network, The Mumbai Angel's, The Indian Angel Network and Venture Nursery.

Like this story, share it with millions of investors on M3

Artha Energy project to build its portfolio to 25MW in 2yrs

Anirudh Damani is a serial entrepreneur and angel investor. He has been investing since 2008 with the Dallas Angel Network, The Mumbai Angel's, The Indian Angel Network and Venture Nursery.

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Anirudh Damani is a serial entrepreneur and angel investor. He has been investing since 2008 with the Dallas Angel Network, The Mumbai Angel's, The Indian Angel Network and Venture Nursery.

Watch this space.....video will be uploaded shortly.


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Wall St week ahead: Will Fed end 2013 with bang or whimper?

Written By Unknown on Sabtu, 14 Desember 2013 | 10.55

The Federal Reserve holds the wild card for the US stock market next week.

Will the US central bank now slow the pace of its stimulative bond buying as the economy's outlook begins to brighten or will it wait, setting the stage for stock investors' undreamed of gains to keep going?

Fed policymakers gather for the last time in 2013 for a two-day meeting that concludes on Wednesday. Many investors are still expecting the Fed to delay scaling back its USD 85-billion-a-month bond buying program until early next year.

But recent developments suggest a December move by the Fed is at least in the realm of possibilities. Those developments include a stronger-than-expected November jobs report, a US budget deal in Washington and the latest signs of tame inflation.

A decision to begin scaling back quantitative easing now is "potentially the largest factor for the market in the near term," said Robert McIver, co-portfolio manager of the Jensen Quality Growth Fund in Lake Oswego, Oregon.

"The very thought of it has had a very negative reaction in the market," so a period of consolidation is likely to follow, he said.

Indeed, stocks logged their worst week in nearly four months this week.

The Fed's ultra-loose money policy, adopted more than four years ago, has helped lift the Standard & Poor's 500 index 24 percent so far this year. In an effort to promote economic growth, the Fed has been buying Treasuries and mortgage-backed bonds to keep long-term interest rates low.

Stocks temporarily pulled back from their rally this year when Fed Chairman Ben Bernanke began hinting in May that a reduction in the stimulus program may be near.

STRONGER JOBS MARKET

Comments by Fed policymakers this week have leaned toward the central bank being closer to trimming bond purchases. St Louis Fed President James Bullard, who is a voting member on the Fed's policymaking committee, said the Fed could slightly reduce the purchase program this month after signs of a stronger job market.

Most economists in a Reuters poll this week said they expect Fed policymakers to defer action until January or March, but the number of those expecting a Fed move in December has increased compared with one month ago.

Some stock traders, guarding against a Fed surprise, have been using options as a hedge against possible losses.

What the Fed will do is still an open question. The central bank surprised many investors in September when it kept its stimulus in place.

The S&P 500 is on track to end 2013 with its best yearly gain since 2003, so what the Fed decides could mean the difference between pulling back or resuming the advance.

"Once we get the Fed news out of the way next week, I expect the seasonal factor to kick in and we may see historical highs again leading up to the new year," said Ryan Detrick, analyst at Schaeffer's Investment Research in Cincinnati, Ohio.

Some analysts argue investors are making too much out of the issue of tapering since the Fed is likely to continue its accommodative measures for many months to come.

LOW RATES PROMISED

Even as it has begun to talk about reducing stimulus, the Fed has vowed to keep interest rates low for a long time, and most Fed officials expect no rate hike until 2015.

That means the Fed is likely to be very careful to create a cushion for the economy, as well as the markets, they said.

"I think people are fibrilating about tapering. Every day they're looking for a new speck of information about it," said John Rutledge, chief investment officer of Safanad, a New York-based private investment firm. "I don't think they will announce anything next week, and when they do announce tapering, they will take great pains" to reassure the market.

Several stock market strategists in a Reuters poll released Thursday said they expected any reduction in its bond buying to be a small amount initially.

Investors will be keen to hear any comments from the Fed on how long it is likely to keep rates low.

Given the amount of talk surrounding a Fed tapering, investors could hardly be in for a punch, analysts said.

"One would expect there would be a knee-jerk reaction," said Eric Kuby, chief investment officer at North Star Investment Management Corp. in Chicago. But, "it would be more of a surprise than a shock."



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Gold rises 1% on bargain hunting, posts weekly gain

Gold rose 1 percent on Friday, helped by bargain-hunting after a sharp two-day plunge, but analysts said the market remains vulnerable to the downside ahead of the all-important Federal Reserve policy meeting next week.

For the week, gold was up almost 1 percent on a lower dollar and heavy short-covering earlier in the week.

Stronger-than-expected US retail sales numbers on Thursday, adding to last week's forecast-beating jobs report, strengthened speculation the Fed could start winding down its bond purchases at its December 17-18 meeting.

Adding to the rosier economic picture was news that US lawmakers had struck a tentative budget deal that would avoid a government shutdown in January.

"The data, as well as the budget deal, have been modestly encouraging, and it shifted opinion back towards tapering in December," said HSBC chief precious metals analyst James Steel.

"We had a big decline yesterday and this is really a round of short-covering going on right now," Steel said of gold.

Spot gold climbed 1.1 percent to USD 1,237 an ounce by 3:22 p.m. EST (2022 GMT). US gold futures for February delivery settled up USD 9.70 at USD 1,234.60, with trading volume about 40 percent below its 30-day average, preliminary Reuters data showed.

Gold is headed for a 26 percent decline this year, its first annual decline since 2000. Investors, encouraged by a recovering global economy, pulled money from gold and channeled it into riskier assets such as equities.

Holdings in SPDR Gold Trust, the biggest gold ETF , fell the most in nearly two months on Thursday. The fund has not seen inflows in more than a month, hinting that a substantial upside in prices is limited, traders said.

Silver took its cue from gold, rising 1.1 percent to USD 19.67 an ounce.

Platinum group metals largely ignored news that South Africa's National Union of Mineworkers (NUM) said on Thursday it had agreed a two-year wage deal for pay increases of 7.5 to 8.5 percent with Anglo American Platinum , the world's top producer of the precious metal.



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Cabinet clears pay scale related proposal at power PSUs

Written By Unknown on Jumat, 13 Desember 2013 | 10.54

The Cabinet has approved the proposal that said the modified pay structure, which was in deviation of DPE guidelines and adopted by five CPSUS for below board level executives, shall not be regularised. "The Union Cabinet has approved the proposal of the  Ministry of Power that the aforesaid deviant pay scales adopted for below Board level executives wef 01.01.1997 shall not be regularised," an official statement said.

The five Central Public Sector Units -- Rural Electrification Corporation Ltd, NHPC Ltd, North East Electric Power Corporation, THDC India Ltd and SJVN Ltd under Ministry of Power had adopted a modified pay structure with effect from January 1, 1997 in deviation of DPE guidelines.

Also Read: Cabinet nod awaited for proposed new mineral policy

Due to its non-regularisation, these CPSUs have not been able to adopt new pay scales on regular basis which has been effect from January 1, 2007. Cabinet decided that no recovery shall be made for the excess pay drawn from January 1, 1997 onwards.

"Further, the pay scales wef 01.01.2007 shall be fitted after correcting the aberration in pay scales fixed wef 01.01.1997," the statement said. The decisions of the Cabinet will be implemented within a month, it added



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Indraprastha Gas: Updates on next hearing on PNGRB case

Dec 13, 2013, 09.18 AM IST

Indraprastha Gas has informed that the next date of listing in the matter, which is filled by Petroleum & Natural Gas Regulatory Board is January 29, 2014.

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Indraprastha Gas: Updates on next hearing on PNGRB case

Indraprastha Gas has informed that the next date of listing in the matter, which is filled by Petroleum & Natural Gas Regulatory Board is January 29, 2014.

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Indraprastha Gas: Updates on next hearing on PNGRB case

Indraprastha Gas has informed that the next date of listing in the matter, which is filled by Petroleum & Natural Gas Regulatory Board is January 29, 2014.

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Indraprastha Gas Ltd has informed BSE that the next date of listing in the matter is January 29, 2014, as per case status available on the website of Hon'ble Supreme Court of India.Source : BSE

Read all announcements in IGL

To read the full report click here

Action in Indraprastha Gas


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Cisco loses court challenge to Microsoft's Skype takeover

Written By Unknown on Kamis, 12 Desember 2013 | 10.55

Microsoft fended off a challenge to its USD 8.5 billion takeover of messaging service Skype as Europe's second-highest court ruled against claims by rival Cisco that the 2011 deal would harm competition.

The decision on Wednesday means Microsoft can continue to market Skype's video calls to consumers and businesses without making any concessions to Cisco or others offering similar products.

Cisco's concern about the Skype deal stems from the fact it sells more expensive hardware to help companies with video conferencing, while Microsoft's alternative, based on Skype, can do much the same via a computer equipped with a webcam.

Also Read: Microsoft raises USD 8 bn through sale of securities

Cisco, the world's top network equipment maker, said at a hearing in May that Microsoft's acquisition of Skype, the largest Internet video and voice messaging provider, created a monopoly. Cisco said the European Commission was wrong to approve the deal without demanding concessions from Microsoft.

The Luxembourg-based General Court said Cisco had failed to show that the takeover would harm competition.

"Microsoft's acquisition of Skype is compatible with the (European Union's) internal market. The merger does not restrict competition either on the consumer video communications market or on the business video communications market," the judges said.

The court said Cisco's large share of the enterprise communications market and the existence of other rivals prevent Microsoft from impeding competition in this sector.

Cisco, which filed its challenge together with Italian fixed-line and Internet telephone provider and Skype rival Messagenet SpA, originally said it would not appeal to the EU Court of Justice, Europe's highest. But it later withdrew that comment.

To defend itself against Microsoft, Cisco had pushed for a common set of technology standards in video conferencing to make sure that products offered by different firms work together. It had hoped to get backing from the EU case to ensure such "inter-operability" of video calls.

"We are hopeful that in the interest of customers and consumers, Microsoft and others in the industry will join us and continue to rally around this ideal and work together to achieve an open, interoperable video community," said a spokeswoman. "We have no comment about an appeal."

Consumers and companies have been switching to cheaper Internet-based voice and video services such as Skype, Viber, Google Talk and WhatsApp.

A third of the world's voice calls are now made on Skype, with more than 280 million users spending more than 100 minutes monthly, Microsoft Chief Operating Officer Kevin Turner said in March.

Both the Commission and Microsoft welcomed the court ruling.

"Today's judgment by the EU General Court confirms that the Commission was correct in its assessment that the acquisition of Skype by Microsoft would not significantly impede effective competition in the European Economic Area," the EU antitrust regulator said.

The last successful court challenge to a Commission merger-approval decision was in 2002 in a case involving the Sony Music and BMG record labels.

The case is T-79/12 Cisco Systems and Messagenet SpA v Commission.



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Indian rupee opens at 61.60/dollar, slips 35 paise

Dec 12, 2013, 09.08 AM IST

Indian rupee opened lower by 35 paise at 61.60 per dollar versus 61.25 Wednesday.

Tags  Indian Rupee, rupee, dollar, yen, euro, dollar index

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Indian rupee opens at 61.60/dollar, slips 35 paise

Indian rupee opened lower by 35 paise at 61.60 per dollar versus 61.25 Wednesday.

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Indian rupee opens at 61.60/dollar, slips 35 paise

Indian rupee opened lower by 35 paise at 61.60 per dollar versus 61.25 Wednesday.

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Indian rupee fell further in opening trade on Thursday. It depreciated by 35 paise to 61.60 against the US dollar versus previous day's closing of 61.25 per dollar.

Also Read - Monetary policy to focus on inflation, liquidity: Rajan

The yen holds firm in early trade at 102 per dollar levels, while the euro trades at 1.377 per dollar. The dollar index is still subdued at sub 80 levels.



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China 2014 growth target: To cut or not to cut?

Written By Unknown on Rabu, 11 Desember 2013 | 10.54

The Chinese government on Tuesday began its annual Central Economic Work Conference (CEWC), where policymakers will set out the 2014 economic and reform agenda, including the closely-watched gross domestic product (GDP) target.

Whether the government maintains its 7.5 percent growth target or cuts it to 7 percent at the closed-door meeting will be a close call, economists say.

"Momentum in policy circles one month ago was biased toward 7 percent...However, momentum seems to have shifted toward 7.5 percent recently," Zhiwei Zhang, chief China economist at Nomura wrote in a note on Tuesday.

Read more: Forget a slowdown, China's economy set to accelerate

 In a recent report, government think tank China Academy of Social Science predicted growth could hit 7.8 percent in 2014, and, according to Nomura, such a forecast implies a 7.5 percent target.

The GDP target is viewed as a key signal on how serious the leadership is about carrying out reform, as well as an indicator of how fiscal and monetary policy may fare in the coming year.

Read more: China November consumer price index up 3% on year

"If the government cuts the target to 7 percent, we would expect monetary policy tightening to persist and the government to tolerate pains in the short term in exchange for more sustainable growth, which we view as a positive policy stance for the long term," Zhang said.

"If the target is kept at 7.5 percent, the government would have to loosen monetary policy if growth slows in the first-half below 7.5 percent. They may build more infrastructure projects, which would boost growth in the short term but would likely push up inflation and heighten hard-landing risks in the future," he added.

While local news sources may report the target after the meeting, the official announcement will be in March 2014, during the National People's Congress.

 Beijing had maintained an economic growth target of 8 percent for eight years before cutting it in 2012 to 7.5 percent.

Read more: China's economic reforms: What you need to know

The Chinese government has a solid track record for meeting, or even beating its target. In 2012, for instance, the economy grew 7.8 percent, well above the 7.5 percent target.

"In many countries - the growth target has a band above and below it. In China's case, the target is more like a floor," said Louis Kuijs, chief China economist at RBS, who also expects the growth target will be set at 7.5 percent.

"In the recent months, we have had clarity from highest levels in China that they definitely we want to see reforms and improve the quality of growth, but at the same time they need a good rate of growth and healthy climate in which they can undertake the reforms," he said.

Last month, for example, Chinese Premier Li Keqiang said growth of 7.2 percent is needed to maintain adequate employment, suggesting a tendency towards maintaining the current target instead of lowering it.

—By CNBC's Ansuya Harjani; Follow her on Twitter:@Ansuya_H



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