Gold imports likely to drop sharply to 50-60 tonnes in Oct

India, the second biggest consumer of the yellow metal globally, imported 95 tonnes of gold in September ahead of festivals like `Akshaya Tritiya' and Diwali, which see huge rush of consumers at jewellery outlets across the country.

India's gold imports are expected to nearly halve to 50-60 tonnes this month from their September level as jewellers have adequately stocked up for the festive and wedding seasons, according to an industry body.

"In October, we expect the gold imports to be 50-60 tonne. In September, jewellers had bought enough stock to cater to the demand during festival and wedding seasons," All India Gems & Jewellery Trade Federation Director Bachhraj Bamalwa told PTI here today.

India, the second biggest consumer of the yellow metal globally, imported 95 tonnes of gold in September ahead of festivals like `Akshaya Tritiya' and Diwali, which see huge rush of consumers at jewellery outlets across the country.

The consumer sentiment was positive during the festivals and sale of jewellery, coins and bars rose by nearly 30 per cent, he said, adding the decline in prices also boosted the demand.

The festivals are immediately followed by the marriage season, which will continue till December 15, Bamalwa added. "There are a lot of marriages scheduled at the end of November, we expect demand to begin in another week or so," Bamalwa said.

Last year, the demand for gold was very low due to the restrictions imposed by the government to control the current account deficit (CAD) - the difference between outflow and inflow of foreign exchange.

The duty was increased to 10 per cent from 2 per cent and norms under 80:20 scheme, which said 80 per cent of the gold imported should be exported, were tightened.

Meanwhile, in November the gold imports are expected to be similar to this month at about 60 tonne, he added. Gold prices dropped today and ended at around Rs 26,700 per 10 gm in major markets.

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'US firms keen to be partners in building smart cities'

At a meeting organised by the PHD Chamber, the US also offered expertise, both technological and physical, to Indian companies through the chamber to develop power, water & sanitation, transportation and safety & security.

Keen to partner with Indian firms to help build 100 smart cities, the US Embassy on Thursday asked PHD Chamber of Commerce to identify suitable corporates for collaboration with American companies to uplift the country's infrastructure.

At a meeting organised by the PHD Chamber, the US also offered expertise, both technological and physical, to Indian companies through the chamber to develop power, water & sanitation, transportation and safety & security. US Embassy officials including John M McCaslin, Counsellor for Commercial Affairs, and George N Sibley, Counsellor for Economic, Environment, Science and Technology Affairs sought proactive engagement from the industry body so that American corporations can create structures leading to creation of 100 Smart Cities in India.

"India also needs the American expertise to upgrade its railway equipment and systems, airports and traffic control systems, aircraft maintenance, repair and overhaul, cold chain and ports in addition to security modernisation, safe cities, integrated traffic management systems. This can be possible with US-India infrastructure collaboration platform, that has been launched," according to a PHD release.

The Indian government plans to develop 100 smart cities and in this regard an allocation of Rs 7,060 crore was proposed in the Union Budget. While presenting the Budget for 2014-15, Finance Minister Arun Jaitley had said Prime Minister Narendra Modi has a vision of developing 100 smart cities as satellite towns of larger cities and by modernising the existing mid-sized
cities.

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US core business continues to be a drag for Ranbaxy: CIMB

Prakash Agarwal, Equity Analyst, CIMB has a hold rating on Ranbaxy with target price of Rs 630/share.

In an interview to CNBC-TV18 Prakash Agarwal, Equity Analyst, CIMB shared his views on  Ranbaxy's Q2FY15 earnings.

The pharma giant turned profitable in the second quarter of current financial year . It reported consolidated net profit of Rs 478 crore during the quarter as against loss of Rs 454 crore in the year-ago period. Its consolidated revenue grew by 16.3 percent to Rs 3,260 crore in the quarter ended September 2014 compared to Rs 2,802 crore in same quarter last year.

Transcript to follow shortly

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Govt to give over 600 alleged black money holders' list

The Central government led by Prime Minister Narendra Modi is likely to disclose the list of names of the black money account holders in foreign banks on Wednesday. This comes after the Supreme Court on Tuesday asked Centre to reveal names of all foreign account holders by Wednesday. The court had said that Special Investigation Team (SIT) will investigate black money and not the government.

Finance Minister Arun Jaitley issued a statement saying that the government will submit all the names and that the probe should be done without offending countries that are helping India on the matter. "The government has no difficulty in placing the entire list and the same will be placed before the court tomorrow. The government has already given the list to the court constituted Special Investigating Team on June 27. We are keen that by whatever procedure in accordance with law we must get to the root of the matter," Jaitley said.

Jaitley said that the list will be given to the Supreme Court in a sealed envelope. However, he refrained from commenting whether the government is ready open to make the names public.

Attorney General Mukul Rohatgi said that the c omplete list will be submitted by 10:30 AM to Supreme Court on Wednesday. "We had no problem to share the names with the supreme court. SIT functions under the supreme court jurisdiction. We Will face a problem in future treaties if all names are made public," Rohatgi added.

Hitting out hard at the government, the Supreme Court had said, "You do not do anything. Just pass information of account holders to us and we will pass order for further probe. You do not have to take interest in people having foreign bank accounts, the Special Investigation Team will take care of it."

"We can't leave the issue of bringing back black money to government. It will never happen during our time. Why are you providing protective umbrella to foreign bank account holders," the court said.

The Opposition parties too, did not miss a chance to take shots at the government after the Supreme Court's order. Congress claimed that the order has exposed the "lame excuses" being trotted out by the Centre. "During the Lok Sabha election campaign, BJP leaders were declaring from the rooftops that the black money stashed abroad will be brought back within 100 days. But when it came to declaring the names, they just released three," AICC General Secretary Ajay Maken said.

"BJP and its supporters like Ramdev had said that more than 50,000 people have stashed money away in foreign banks and Modi had said during the election campaign that Rs 15 lakh will be deposited in the bank accounts of all Indians once the black money is recovered," Maken added.

Another Congress leader, Manish Tewari, too, hailed the apex court's order saying it was "absolutely correct". "The chickens have come home to roost rather early in the day for this government. It has been caught in the rhetorical trap of of its own making. For five years you have (said) that the names would be made public as soon as you are in possession, and then you do a U-turn and argue absolutely the opposite," he said.

Welcoming the apex court's order, CPI leader Gurudas Dasgupta said it is a "counter blow" to the government from judiciary on its "deliberate inaction. This is absolutely a clear case of judicial intervention to correct the position the country is facing today," he said.

Not just Opposition parties but BJP leader Subramanian Swamy, too, had said that the government is "wrong" in saying that names of foreign account holders could not be disclosed because of treaties. "Government was wrong in quoting Double Taxation Avoidance Treaty (DTAA), both the UPA and our government. And what has now come from the Supreme Court is correct position in law," he said.

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Indian rupee opens flat at 61.33 per dollar

The Indian rupee opened flat at 61.33 per dollar versus 61.31 Monday.

The Indian rupee opened flat at 61.33 per dollar versus 61.31 Monday.

The US dollar nurses modest losses, on expectations of more dovish comments from the Federal Reserve.

Also Read - Expect RBI to turn dovish in Dec, cut rates in Feb: BofA-ML

Agam Gupta of Standard Chartered said, "We do not expect rupee to dip below Rs 61.20/dollar due to demand from nationalised banks at that level."

"The range for the day could be Rs 61.20-61.45/dollar. We expect exporters to sell above Rs 61.40/dollar," he added.

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SoftBank to invest $627 million in Snapdeal

This is latest investment by the telecommunications company as it expands aggressively overseas.

Japan's SoftBank Corp said on Tuesday that it would invest USD 627 million in online retailer Snapdeal, marking the latest investment by the telecommunications company as it expands aggressively overseas.

SoftBank, which bought No. 3 US mobile carrier Sprint Corp last year for USD 21.6 billion, said earlier this month it was taking a minority stake in Hollywood movie studio Legendary Entertainment for USD 250 million.

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Nifty breaches 8050, Sensex firm; HUL up, Wipro falls 2%

09:20

Moneycontrol Bureau The market continues its uptrend in first session after the auspicious Mahurat trading. The Sensex is up 106.15 points at 26957.20 and the Nifty is up 49.80 points at 8064.35.
About 498 shares have advanced, 116 shares declined, and 27 shares are unchanged.

Dr Reddy's Labs, TCS, BHEL and HUL are top gainers in the Sensex. Among the losers are Wipro, GAIL, Cipla and Sun Pharma.

The Indian rupee opened higher by 11 paise at 61.17 per dollar versus 61.28 Wednesday. The euro held firm in early trade after the European Central Bank's stress tests found smaller capital shortfalls among European Banks than expected. Traders will be looking to Germany's IFO business sentiment index due later today.

Pramit Brahmbhatt of Veracity said, "After a long weekend, equity markets are likely to trade sideways and will take cues from global markets for further directions. Rupee is expected to trade firm, although strength in dollar could cap upside moves in rupee altogether. Range for the USD-INR seen between Rs 60.80-61.80/dollar."

US stocks climbed on Friday, with Wall Street derailing a four-week slide with its best week this year, as quarterly results from companies including Microsoft and Procter & Gamble inspired investor enthusiasm.

In addition, the Federal Reserve will begin its 2-day policy meeting on Tuesday. The fed is expected to end its 3rd round of bond buying with investors eyeing clues on rate hike timings.

In Europe, concerns about the results of Europe's bank stress tests and the first Ebola case in New York, weighed on investor sentiment ending the FTSE Friday's session down around half a percent. Moreover, other core indices, CAC and DAX were down around seven tenths of a percent.

Brent crude slipped below USD 86 a barrel amid abundant supply and weak demand.
And in metals space, gold edged lower as rallying equity markets and strong us economic data dented demand for the precious metal as an insurance against risk.

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Gold struggles as equities hurt safe-haven appeal

Gold steadied on Monday but failed to make any recovery from three straight days of losses as stronger global economic data and higher equities curbed the metal's safe-haven appeal.

Asian equities rose, taking heart from upbeat earnings and U.S. economic data that eased global growth fears and sharpened risk appetite. The results of stress tests on European banks at the weekend were received calmly in the market.

Gold's outlook this week will depend on a Federal Reserve policy meeting, when the U.S. central bank is widely expected to end its bond-buying stimulus, OCBC Bank analyst Barnabas Gan said.

The Fed's two-day meeting, which begins on Tuesday, will also be watched for clues on whether any slowdown in Europe or elsewhere could affect the central bank's monetary policy.

"In addition, the ECB stress test which gave most of its 130 banks a clean bill of health may continue to dampen safe-haven demand in gold. All these, and accounting for the relatively stronger greenback for the past month, should continue to inject downside risk for bullion," Gan said.

Spot gold was steady at USD 1,230.86 an ounce at 0309 GMT but isn't far from a one-week low of USD 1,226.17 reached last week.

The metal's losses come after global equities posted their biggest weekly percentage gain since July 2013 last week, while the U.S. dollar also strengthened.

Data on Friday showed that new U.S. home sales rose to a six-year high and Britain's economy expanded 0.7 percent in the third quarter, easing fears over a global slowdown. Strong corporate earnings also helped push equities higher.

Bullion traders were also closely watching investors' positions in gold funds. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.6 percent to 745.39 tonnes on Friday.

Hedge funds and money managers increased their bullish futures and option bets in gold for a second straight week, as the price of the precious metal rallied in the week up to Oct. 21, the Commodity Futures Trading Commission said on Friday.

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Natural gas dips as weather forecasts stay mild

Investing.com - Investing.com - Natural gas prices moved lower on Friday after updated weather-forecasting models continued to call for mild autumn temperatures to hold across much of the U.S. and curb demand for both heating and air conditioning, prompting thermal power plants to burn less of the commodity as a result.

On the New York Mercantile Exchange, natural gas futures for delivery in November were down 0.50% at $3.604 per million British thermal units during U.S. trading. The commodity hit a session low of $3.560, and a high of $3.666.

The November contract settled down 1.01% on Thursday to end at $3.622 per million British thermal units.

Natural gas futures were likely to find support at $3.545 per million British thermal units, the low from Nov. 19, 2013, and resistance at $3.718, Wednesday's.

Updated weather-forecasting models called for mild temperatures across much of the U.S. into early November, and while a blast of cold air could make their way into the northern U.S. in the coming week or two, uncertainty as to how far south it could reach kept natural gas prices in negative territory.

"If there were additional sub-freezing weather systems to follow it would be different, but the storms that impact the U.S. around November 4-7th will likely again be over the Northwest and Northeast corners," Natgwasweather.com reported in its Friday midday update.

"This simply leaves too much of the U.S. under pleasant conditions and should result in another larger than normal build for early November."

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in December were down 1.04% at $81.24 a barrel, while heating oil for November delivery were down 0.61% at $2.4838 per gallon.

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U.S. stocks rise on earnings, shrug off data, Ebola fears; Dow up 0.76%

Investing.com - Investing.com - U.S. stocks rose on Friday applauding a fresh batch of positive third-quarter earnings, which gave investors room to shrug off soft home sales data and a new case of Ebola diagnosed in the United States.

At the close of U.S. trading, the Dow 30 rose 0.76%, the S&P 500 index rose 0.71%, while the NASDAQ Composite index rose 0.69%.

The CBOE Volatility Index index, which measures the outlook for market volatility, was down 2.54% at 16.11.

Stocks rose as investors cheered better-than-expected earnings from Microsoft and Procter & Gamble one day after 3M Company (NYSE:MMM), General Motors Company (NYSE:GM) and Caterpillar Inc (NYSE:CAT) beat consensus forecasts, giving investors room to shrug off soft home sales data.

The Census Bureau reported earlier that U.S. new home sales rose 0.2% in September to 467,000 units, missing expectations for an increase to 470,000 units.

The August figure was downwardly revised to a 15.3% climb to 466,000 units from a previously estimated 18.0% jump to 504,000 units.

Still, a longer-range view of economic indicators still points to a sustained U.S. recovery, including in the housing sector.

Earlier in the week, the National Association of Realtors reported that U.S. existing home sales increased 2.4% to a 5.17 million units last month from 5.05 million in August. Analysts had expected existing home sales to rise 1% to 5.10 million units in September.

Elsewhere, a doctor who recently returned from Guinea tested positive for Ebola in New York City, though expectations for authorities to contain the virus gave investors room to focus on earnings and stocks room to rise.

Leading Dow Jones Industrial Average performers included Microsoft Corporation (NASDAQ:MSFT), up 2.45%, 3M Company (NYSE:MMM), up 2.44%, and Procter & Gamble Company (NYSE:PG), up 2.31%.

The Dow Jones Industrial Average's worst performers included Visa Inc (NYSE:V), down 0.39%, Chevron Corporation (NYSE:CVX), down 0.26%, and International Business Machines (NYSE:IBM), down 0.08%.

European indices, meanwhile, ended the day lower.

After the close of European trade, the DJ Euro Stoxx 50 fell 0.36%, France's CAC 40 fell 0.69%, while Germany's DAX fell 0.66%. Meanwhile, in the U.K. the FTSE 100 fell 0.47%.

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Crude shoots up on Saudi output cut, U.S. data

Investing.com - Investing.com - Oil prices shot up on Thursday on news Saudi Arabia trimmed output in September to support the market, while upbeat U.S. data and earnings boosted prices by stoking hopes for a more robust U.S. recovery.

In the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in December traded up 1.52% at $81.74 a barrel during U.S. trading, up from a session low of $80.06 a barrel and off a high of $82.34 a barrel.

The December contract settled down 2.39% at $80.52 a barrel on Wednesday.

Support for the commodity was seen at $79.10 a barrel, last Thursday's low, and resistance at $83.26 a barrel, Tuesday's high.

Oil prices got a boost after Saudi Arabia said it cut crude oil production by about 328,000 barrels in September to a total of 9.36 million barrels.

London-traded Brent prices have fallen nearly 26% since June, while WTI futures are down almost 23% from a recent peak of $107.50 in June.

Concerns over weakening global demand combined with indications that the Organization of the Petroleum Exporting Countries will not cut output to support oil markets have weighed on prices in recent weeks.

OPEC oil output hit a two-year high of 31 million barrels per day in September, led by higher production from Iraq and Libya.

Some market analysts believe that only a cut in production by the oil cartel will halt the decline in prices.

Oil ministers from the 12-member group are scheduled to meet in Vienna on Nov. 27 to consider whether to adjust their production target for early 2015.

Elsewhere, bullish data out of the U.S. gave oil a boost as well on expectations that a more robust U.S. economy will consume more fuel and energy.

The Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending Oct. 18 increased by 17,000 to 283,000, broadly in line with forecasts.

The four-week average fell to 281,000, the lowest since May 2000, while continuing claims, which includes those receiving benefits for at least a second month in a row, also hit a 14-year low, of 2.35 million, which bolstered the U.S. currency.

Better-than-expected earnings from General Motors Company (NYSE:GM) as well as Caterpillar Inc (NYSE:CAT), the latter of which hiked its profit outlook, boosted oil prices as did data out of Europe.

Research group Markit Economics reported earlier that its preliminary manufacturing purchasing managers' index for the euro area ticked up to 50.7 this month from a final reading of 50.3 in September. Analysts had expected the index to slide to 49.9.

The service-sector PMI held steady at 52.4, slightly above expectations of 52.0.

Separately, on the ICE Futures Exchange in London, Brent oil futures for December delivery were up 2.34% at US$86.70 a barrel, while the spread between Brent and U.S. crude contracts stood at $4.96.

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Samavat 2071 - Moon sign-wise prediction: Ganeshaspeaks

By Shri Dharmesh Joshi of Ganeshaspeaks

Aries implication - Those born with the Moon Sign Aries normally tend to experience fluctuations in wealth and related matters. However, on the brighter side, these people are charismatic, possess the ability to win over the opposite sex, are usually fertile and potent, and often remain surrounded by their near and dear ones. They also go on to attain fame and prosperity on their own accord.

General - At the beginning of Vikram Samvat 2071, on October 24, 2014, the benefic Jupiter shall be posited in its Sign of exaltation – Cancer. At this time, the planet called as the warlord of demons, Rahu itself too shall be in its friendly Sign, and the much feared Saturn also shall be exalted, transiting in Libra. However, Saturn changes Sign on 2nd November 2014, and will thence be transiting through Scorpio for the next two and half years.

At the beginning of the new year, you can also expect Mercury and Venus to give you good results, helping you communicate and connect well. However, the actual results may vary, as they shall depend on your Personal Horoscope and the placement of planets therein. In 2015, Jupiter shall leave Cancer to enter the Zodiac Sign Leo on July 14, 2015. Besides this planetary move, no other major planet is foreseen in 2015. Nonetheless, Jupiter's movement is always significant, and you can expect to buy some movable or immovable assets or invest considerably during this time, assures Ganesha. People pursuing masters degree or higher education shall be in an excellent phase, and they can expect success. However, if you happen to be involved in any trade/business involving foreign transactions/relations, be careful and review your financial state before taking any major decision.

Finance and profession - As per your Moon Sign, the Lord of your finance house is the signifier of luxuries, Venus. And, at the start of the year, Venus shall be in its own House/Planet. In view of this planetary position, the year beginning shall be an good phase for your financial situation. If you already have been experiencing positive to average effects, expect things to remain as they have been, with little change. However, post November, when the mighty Saturn begins to influence your House of Wealth, you may feel that things have slowed down on the business/ financial front. Businessmen may find it difficult to extract their money. If in a job, you may feel dissatisfied with your financial
situation, which may propagate a job change, feels Ganesha.

Health - Mars and Mercury are very important planets, when it comes to ascertaining the health situation in the coming times, reminds Ganesha. Now, note that, as per your Moon Sign, the adverse planet Rahu shall be transiting through the House representing diseases for your sign. Owing to this, you may remain confused about your health state, as Rahu is known to causes illusions and confusions. You may keep facing seasonal ailments, and may even get regular medical check-ups. However, rest assured, nothing may major may cause you trouble. Nonetheless, Ganesha advises you to regularly worship Lord Shiva to remain and feel mentally and physically healthy.

Love and married relationship - Venus is the major planet responsible for encouraging love prospects in one's life. Same holds true for the married life. Overall, there may not be any major negatives for you in the realm of love and marriage in the year ahead. However, the final picture could easily be termed as mixed. If you have been waiting for some progress in the matters of love and passion, Ganesha foresees the time between July 25, 2015 to August 13, 2015 as your best friend. Also, the love bug may catch you unawares during November 4, 2015 to November 30, 2015. Be ready for some action!

Education - As aforementioned, the year ahead largely favours higher education, specifically Masters and beyond. Thus, ones pursuing their Masters degrees can expect to achieve good success till 13/07/2015, as during that time Jupiter, the planet signifying higher learning and education, shall be transiting through its sign of exaltation cancer. And, since cancer is the fouth House from your sign, this shall be a good time to study subjects like culture, anthropology, genetics, your own family tree, sociology etc. For students appearing in their board exams, Ganesha sees excellent time from mid-2015 to August 2015, as at this time Jupiter again shall be exerting its benign influence on all things academic.

Remedies: Keeping all the planetary configurations of the year in mind, Ganesha advises you to do the following:

1. Worship of Lord Shiva, and chanting of the Mahamritunjaya mantra.
2. Give some donations to old age homes, and help the needy people.
3. Establish the Shani Yantra at the place of worship in your home and worship it daily.
4. Establish a Kuber Yantra at the place of worship in your home; it will bring you both money and recognition. You may even find new sources of income.
5. Lastly, you can also chant the following mantra to invoke the Lord of your Sign Mars

Taurus implication- Those born under the Moon sign Taurus are often stable in their thoughts and actions. Intelligent, grounded and shrewd, these natives are beautiful, skilled and benevolent. Many of them also believe in performing noble deeds, and tend to remain happy at most times.

General - On October 24, 2014, when the Vikram Samvat 2071 begins, the benefic Jupiter shall be posited in its sign of exaltation. The adverse planet Rahu too shall be in its friendly sign at this time. Saturn too shall be exalted, transiting in Libra. But, Saturn will be in Libra for only few days, as it changes sign and moves to Scorpio on November 2, 2014 – where it will be posited for the next two and half years. At this time, you can also expect Mercury and Venus to give you good results, helping you communicate and connect well. However, the actual results may depend upon your personal horoscope. As you will move ahead towards 2015, you will also need to be ready for Jupiter's transit, slated for July 2015. This will actually be the year's most significant planetary change, says Ganesha, when Jupiter will move to the Zodiac Sign Leo. On the whole, Ganesha foresees that this year you shall need to put in a plenty of hard work. But then, you may wonder what's new about this, for you may have been anyway working hard consistently. You may be left wondering that stars are not supporting you much this year. Truth is that the planets may actually not support you much in the year ahead, feels Ganesha.

Adverse planets influencing the Moon sign Taurus may lay hurdles in your path, especially if you are a student or have been planning to conceive a child. You will also need to be careful, if you run a partnership business. Please follow the remedies given at the end of this prediction to tide over this phase with relative ease.

Finance and profession – As per your Moon sign, Mercury is the Lord of your house of finances. And, from the beginning of the year itself, Mercury shall be in a conjunction with Rahu, an adverse planet. Basis the overall planetary combinations, Ganesha advises you to take special care in financial and monetary matters during March 28, 2015 to April 12, 2015 and December 7, 2015 to December 26, 2015. Also, all through this time, you will have to be quite careful while taking any decisions. Just be careful to weigh your options and pros and cons of your decision, before you arrive at one.

Health – Venus is quite important for your Moon sign – from the health's perspective. Overall, the year ahead shall not be unfavourable for you in terms of your health. You do not look set to face any major health issues in the coming year, feels Ganehsa. However, on April 4, 2015, May 18-20 2015 and June 15, 2015, you will need to take special care of your well-being, safety and health.

Love and married relationship- Two major planets signifying love and relationships for you are Mercury and Mars. Mars, as per your Moon sign, is the Lord of the House of parter and marriage, while Mercury is the Lord of your House of Love. More of this shall depend on your personal horoscope, though. Any way as per your Moon sign itself, the transiting Rahu shall be posited in the fifth House from your Sign, while the transiting Saturn shall be passing through the seventh House from your sign. These two planets may pose hurdles in your path to love this year, feels Ganesha. If you are already in a relationship, there may be a plenty of conflict between you and your partner, under these planetary influences. Ganesha clearly advises that only with patience and understanding you shall be able to overcome this challenging phase.

Education

The planetary influences do not bode too well for the educational and academic endeavours for the Moon sign Taurus in the coming year, feels Ganesha. You may face troubles in concentrating and memorizing, if you are a student. The transiting Rahu (North Node) may take your mind towards many distractions and illusions. To help you tide over these issues, Ganesha advises you to worship Lord Shiva regularly. You should offer the Abhishek of Panchamrut (a mix of 5 nectars) to Shiva lingam and light an earthen lamp (diya) with clarified butter (ghee). However, there is another ray of hope – post July 25, 2015, when Jupiter turns direct, you shall see a great change in your overall condition.

Remedies: Keeping the planetary configurations of this year in mind, Ganesha advises you to worship in the following manner:-

1. Chant "Om Namah Shivay"
2. You can do Puranatokata Abhishek
3. You can also chant Shiv Mahima Stotra. Doing Rudrasukta too shall benefit you.
4. You can recite Astadhyay Rudra too.
5. For financial gains you should perform Satyanarayana Katha on every Poornima, and have a Brahamin perform Sri Sukta.
6. The Lord of your Sign is Venus, therefore you should recite "Himkundmrinalabham daetyanam parabham gurum, Sarvashastrapravaktaram bhargavam pranmamyaham".

Gemini implication - Those born with the Moon sign Gemini tend to be popular, especially among the opposite sex. They make for pleasing personalities. These people also tend to get a good level of love and affection from their loved ones. They have fish-shaped lines on their palms.

General – Jupiter, the supreme benefic, is currently placed in its sign of exaltation i.e. Cancer, where it will remain till the mid year 2015. From July 14, 2015 onwards, Jupiter shall move Signs and move to Leo. This will be one of the most significant planetary moves of the year ahead, besides Saturn's, which takes place on November 2, 2014. Currently, Saturn is in Libra, but from early November 2014, it should move to Scorpio, where it will stay for the next two and half years. Jupiter, however, shall be quite supportive for you all through the year, helping you reap rewards and make gains. Academic endeavours too shall be duly favoured under Guru's influence. At the beginning of the new year, you can also expect Mercury and Venus to give you good results, helping you communicate and connect well. The actual results of these transits may vary, and shall largely depend on your personal horoscope and the placement of planets therein. For your Moon Sign,
however, Rahu's placement in the house of happiness and comforts may cause you confusions and illusions. In front of Rahu shall be Ketu, posited in your house of work and effort (Karma Sthaan). Both these planets are in important Houses and they may cause you
considerable trouble. Also, Saturn, currently posited in your house of employment, may also create struggles for you. Ganesha advises you to follow the remedies given at the end of this prediction to tide over these challenges.

Finances and Profession

Moon rules the House of Finances as per your Moon sign. Now, the most important quality of the planet is that it is a very fast moving body. It changes signs almost daily. Also, currently, the exalted Guru or Jupiter is passing through your house of finances, which is definitely a good news. This will continue till July 2015. You should do your best to extract maximum benefit of this useful time, says Ganesha. However, you will also need to consider the planetary positions as per your own Horoscope. People who are in a job are advised to keep moving ahead steadily, specifically after November 2014, once Saturn changes signs. They will find planetary support to some degree.

Health

As per your Moon Sign, Mercury rules your House of Health, while Mars rules your House of Diseases. Thus, these two planets shall be very crucial for you in the year ahead. And, the good news is that in the year ahead, for the most part, these two planets shall be in your favour. Your overall health, thus, shall remain quite decent. However, Ganesha advises you to take special care of your health during 17/11/2015 to16/12/2015, as at this time Saturn and Sun shall be in a combination in your House of Diseases. You may also remain somewhat mentally stressed during this time, and you may enter into conflicts with higher authorities or your father, at this time.

Love and married relationship

Venus and Jupiter, both the planets are considered to be quite helpful and fortunate in the matters of love and marriage. Also, as per your Moon sign, Jupiter is the Lord of the house of married life. Thus, you have good news for this aspect of your life, says Ganesha. If you are looking for a suitable match, start worshipping Jupiter by chanting Guru Mantra regularly, as this will helping you make the most of this time – as at this time Jupiter is exalted in Cancer. By doing so, you can hope to get wish fulfillment. Also, the Lord of your House of love is Venus, which is also called as the Goddess of Love. This planet shall also be in good position, with respect to your sign, in the year ahead. Thus, you also have good news for the matters of heart.

Education

The year ahead also looks set to be quite favourable for the matters related to academics and educational endeavours for your Moon Sign. The exalted Jupiter shall support your efforts in these areas, helping you tide over challenges, if any. However, people pursuing their Masters degree or higher education may have to face some struggle, as Rahu's adverse planetary influence may make matters difficult for them. Please worship Lord Shiva and follow the given remedies to get rid of challenges and roadblocks.

Remedies

Considering all the planetary positions, Ganesha recommends you to follow these remedial measures for a better life in 2014:-

1. Worship Lord Shiva, and chant Mahamritunjay mantra 108 times

2. For financial gains, you are advised to conduct a Lakshmi Homa/Yagna on every full moon day (Poonam/ Poornima), and offer lotus stem and dry fruits to the holy fire. Since Mercury is the lord of your sign, you may also chant the mantra give here to boost your luck.

Cancer

Implication - Those born under the Moon Sign Cancer are art lovers, honest, popular and eminent people. Most of them are well respected in the society. Also, the Cancer natives possess sound knowledge about higher subjects like Vedas. They love floral fragrances and water.

General - As Vikram Samvat 2071 begins, the benefic Jupiter shall be posited in its Sign of exaltation – your own Moon Sign - Cancer. This is, quite obviously, an excellent time for you, and you should take advantage of this as much as you can. Jupiter shall remain in your Sign till 13th July 2015, post which it will move to the next Zodiac Sign – Leo - on 14th July 2015. However, at the beginning of the year on 24th October 2014, the warlord of demons, Rahu too shall be in its friendly Sign. The much feared Saturn shall also be in its Sign of exaltation – Libra - at this time. However, Saturn will change its Sign on 2nd November 2014, and will thence be transiting through Scorpio for the next two and half years. At this time, you can expect Mercury and Venus to give you good results, helping you communicate and connect well. However, the actual results may vary, depending largely upon your Personal Horoscope. Till the time Jupiter is transiting through your Sign,
you may expect success and progress in a plenty of tasks and projects. Also, when Jupiter moves to Leo, it shall be posited in your House of Wealth. Thus, this again shall be a favourable time for you. Nonetheless, if you are a student, are in a profession related to the education sector or are planning a major academic project – do be ready make extra efforts – as Saturn is soon going to enter your House of Studies.

Finance and Profession

As per your Moon Sign, the Sun is the Lord of your House of Finances, which shall help you. Ganesha, however, advises you to offer water as a form of reverence to Lord Sun everyday. This regular form of spiritual practice shall help you to a great extent. For doing this, use a Kalash (a small pitcher like utensil) made of Brass, add some grains of rice and some vermilion (Kumkum) to the water, and offer this sanctified water to Sun.

Health

The year ahead and stars bode well for you on the health front, says Ganesha. There may not be any major health problems. Nonetheless, Ganesha reminds you that you should not take everything to your heart or get very emotional about it. Since you are a very sensitive
person, anything that goes against your perception or heart's desire tends to hurt you. Relax and be more flexible, this will also help you take care of your health and well-being. Also, do take care to lead a balanced life and have nourishing food to ensure your immune system is strong enough to take the heat of seasonal illnesses.

Love and married relationship

In love and marriage too, Ganesha doesn't see much hurdles in your way in the year ahead. The placement Venus with Mars and Saturn will give you great results. People whose marriage talks are already in process can expect a good time. Thanks to Jupiter's influence, obstacles from their path shall vanish, and they may get positive results. If you desire to move ahead in a love relationship and plan to commit, Ganesha advises you to go slow and carefully, during November 20, 2015 to December 15, 2015, as at this time Sun and Saturn shall be in a conjunction. You may end up mistaking wrong for the right under the influence of this planetary picture, cautions Ganesha.

Education

Saturn's influence may make the road to education difficult for you in the year ahead. Nonetheless, after making you struggle aplenty, Saturn may help you forge ahead on this path, specifically post November 2015. To curtail the challenges and delays in your quest for knowledge and education, Ganesha advises you to worship Lord Hanuman. You should also regularly chant Shree Hanuman Chalisa, as this will help you vastly. Apart from this, chanting Ganesha's 'Sankatnashan Stotra' path shall also help you.

Remedies

1. Consecrate Shiva Linga Idol with pure water, light a clay lamp (diya) and incense sticks, and chant "Om Namah Shivay" mantra 108 times everyday.
2. Recite the Bhaagyasutka.
3. Recite Shree Suttka everyday to please Goddess Lakshmi and for monetary gains. You may also recite Lakshmi Suttka as well as your Kul Devi Aarati.
4. Since the Lord of your Sign is Moon, you may receive great benefits of the mantra given here. Chant this mantra regularly.

Leo

Implication - Those born under the Moon sign Leo tend to be wanders. Authoritative and aggressive, they also tend to pick fights. Most Leos have a pale complexion and, more often than not, suffer from throat and stomach related problems.

General: At the beginning of Vikram Samvat 2071, on 24th October 2014, the benefic Jupiter shall be posited in its Sign of exaltation – Cancer. At this time, the planet called as the warlord of demons, Rahu itself too shall be in its friendly Sign, and the much feared Saturn also shall be exalted, transiting in Libra. However, Saturn changes Sign on 2nd November 2014, and will thence be transiting through Scorpio for the next two and half years. At the beginning of the new year, you can also expect Mercury and Venus to give you good results, helping you communicate and connect well. However, the actual results may vary, as they shall depend on your Personal Horoscope and the placement
of planets therein. In the year 2015, Jupiter shall leave Cancer to enter the Zodiac Sign Leo on July 14, 2015. Besides this planetary move, no other major planet is foreseen in 2015. Nonetheless, Jupiter's movement is always significant. Thanks to this planetary transit, you can expect to get good results in the year ahead, especially once Jupiter moves to your Moon Sign Leo. People waiting to get married should expect a happy time. However, Ganesha advises you to be careful in the matters related to wealth, property, family and inheritance.

Finance and Profession

Mercury rules the House of Finances for your Moon Sign. At the beginning of this year, Mercury shall be in its own sign, which is a good thing. Nonetheless, Ganesha advises you to be pretty careful on the monetary and financial front. He says this because Rahu shall be
transiting through your House of Wealth for a major part of the year, which may decrease the inflow of money, while increasing the expenses. Overall, the balance between income and expenses may get disturbed. You may also remain stressed over a salary package that
refuses to increase. Consult a good Astrologer, if you happen to face any such trouble, as your Personal stars will play a major role in helping you tide over these difficulties.

Health

As per your Moon sign, the Lord of your House of Health is Sun, while the Lord of the House of Diseases is Saturn. Overall, Ganesha doesn't see you facing any major trouble on account of health in this year, and you have to thank Jupiter too for that. Yet, Ganesha does
indicate a few time frames, when you will have to be very careful on accounts of health and well-being - March 20, 2015 to September 13, 2015 and during November 17, 2015 to December 16, 2015, the Sun's power may diminish somewhat, vis-a-vis your sign.

Love and married relationship

Once Jupiter moves signs and positions itself in your Moon Sign in July 2015, you can expect to get a major boost in the matters of love and relationships. However, before that too things may not be exactly bad for you. Just that they will get relatively even better from mid year onwards. Your married life shall be full of great chemistry and mutual affection. Also, people who are unmarried shall get favourable opportunities, which will help them move ahead onto the path of love and personal fulfillment.

Education

On the fronts of education and career, you may get mixed results, feels Ganesha. Here too, the results shall start getting better post July 2015, when Jupiter comes to your full support. However, from November 2014, Satuern shall start transiting through your 4th House, and
thus, you are required to be careful on this account. There may be struggle and slow momentum, and you should worship Jupiter to tide over the difficulties. Also, people who are pursuing their Masters degree or higher education may have to face trouble.

Remedies

Considering all the planetary positions, Ganesha advises you to follow the remedial measures:
1. Worship Lord Shiva and chant Mahamritunjay mantra 108 times.
2. Mix milk, water and a pinch of black sesame seeds in a copper urn (lota) and offer it to Lord Shiva on every Monday. Also, chant "Om Namah Shivay".
3. Performing Homatmak Laghu Rudra Yagna may also prove to be beneficial.
4. Establish Shree Yantra in the temple at your home to get financial gains. Light incense sticks of rose and jasmine.
5. The Sun is the Lord of the Moon Sign Leo. Therefore, you should chant the mantra the mentioned here.

Virgo

Implication - Ones born under the Moon Sign Virgo are humorous, gentle, often fortunate and pleasure-loving. They possess a pure heart, and tend to be known for their noble deeds. They also have a knack to impress the opposite sex. The Virgo born have more number of daughters, say the scriptures.

General - At the beginning of Vikram Samvat 2071, on October 24, 2014, the benefic Jupiter shall be posited in its Sign of exaltation – Cancer. At this time, the planet called as the warlord of demons, Rahu itself too shall be in its friendly Sign, and the much feared Saturn also shall be exalted, transiting in Libra. However, Saturn changes Sign on 2nd November 2014, and will thence be transiting through Scorpio for the next two and half years. At the beginning of the new year, you can expect Mercury and Venus to give you good results. However, the actual results may vary, as they shall depend on your Personal Horoscope. In the year 2015, Jupiter shall leave Cancer to enter the Zodiac
Sign Leo on July 14, 2015. Besides this planetary move, no other major planet is foreseen in 2015. Nonetheless, Jupiter's movement is always significant. However, Ganesha feels that the year 2015 may remain difficult and challenging on many accounts for your Moon Sign.
You will need to tread ahead carefully, maintaining careful balance in all you attempt, as you may have to pass through many delicate situations requiring careful detail and attention. Resultantly, you may remain mentally and physically stressed and strained. You should worship Lord Shiva to get rid of troubles, advises Ganesha.

Finance and Profession

Venus is the Lord of your House of Finances, as per your Moon Sign. And, if we look at the fifth House from your Sign, its Lord is Saturn. Now, if somehow both these planets are energised, you can expect to have a great time ahead monetarily and financially. Thus, Ganesha advises you to institute a Shree Yantra at the place of worship in your home and office and worship it regularly by chanting Lakshmi Mantra. You may also wear an iron ring on your right hand's middle finger. In case, you don't seem to benefit much from the afore-said remedies, Ganesha advises you to consider wearing a blue sapphire, but only after consulting an Astrologer. If you are in a partnership business, this year you will need to be very careful. There may be conflicts with a business partner over financial matters, owing to Ketu's unhappy presence.

Health

As per your Moon Sign, Mercury rules your House of Health and Saturn rules your House of Diseases. Overall, the planetary picture indicates that you will not face any major turmoil on the health front in the year ahead. Nonetheless, you will need to take a good care and
remain watchful, as the transiting Rahu is passing through your First House, which can pose dangers to your safety and well-being. You may also feel unwell, on no major account, and when you will go to get yourself checked, you won't find anything – as Rahu leads to
illusions. Stress, anyway, shall assail you, feels Ganesha.

Love and married relationship

The road to love and relationships may be a little tough this year. In your House of Marriage and Partnerships, Ketu is transiting, owing to which you may keep facing some or the other conflict with your spouse. Besides this, there may be troubles and arguments with a business partner or a partner in projects. During August 24, 2015 to October 29, 2015, Mercury-Rahu shall be in conjunction, while from September 18, 2015 to October 17, 2015, Sun-Rahu shall be in conjunction, and from November 4, 2015 to December 23, 2015, Mars-Rahu shall be conjunction. These difficult planetary aspects shall not only cause trouble in your married and love life, but also on other aspects of your life. Ganesha, thus, advises you to remain spiritually active and worship God to tide over these difficult time frames.

Education

The planetary positions indicate that you may remain anxious, distracted and stressed in the year ahead, effect of which shall also manifest on education and academics related matters. However, till July 2015, Jupiter's good influence shall help you considerably, and your efforts may bear fruits. And, the starry alignments post July shall encourage you to move, maybe even to a foreign land, and get higher education. Keep this in mind, and plan from now itself, if you really have such dreams.

Remedies

Considering all the planetary positions, Ganesha advises you to follow the remedial measures here to sail ahead smoothly in life:

1. Consecrate Shiva Lingam idol with pure, sacred water and offer the remaining water in the pot to the serpent idol, which is on the Shiva Lingam.
2. Recite Shani Kavach paath to save yourself from the adverse effects of Shani Dosha.
3. Chant the mantra given here everyday two hours after the sunset, facing the West, standing outside your house or in the terrace or balcony. You may even chant this mantra in your balcony or in a Shiva temple.
4. Since Mercury is the Lord of your Sign, you should recite this mantra regularly.

Libra

Implication - Those born under the Moon Sign Libra are gallant people. Worshippers of Devas and Brahmins, they tend to be charitable and generous. Marvellous people themselves, they usually live a happy and prosperous life. By birth, they have a potential to possess bullocks, horses and various other types of vehicles. They also, however, have the potential to have many wives (spouses).

Stars and planets change their position, and bring you considerable relief and happiness, as the year begins. The last two years of your life may have be stressful, owing to Rahu-Saturn's transits through your Moon Sign, but you anyway may have seen relative betterment in the situation from July 2014 onwards, when Rahu exited your Moon Sign Libra. Now, on 2nd November 2014, Saturn too leave your Moon Sign to enter Scorpio. Also, Jupiter is giving you a good support, and this will many areas of your life, including business and overall progress in life, says Ganesha. Post July 2015, when Jupiter moves to Leo, you can expect even better times on fronts like education, benefits, gains,
children and progeny. However, Saturn's movement to your House of Wealth may cause you some struggle on that account. You may feel that your income has decreased somewhat. Rahu's influence may also affect your financial situation. You may have to spend on legal or medical bills. Be careful and cut unnecessary expenses. Also, these planetary influences may leave you confused as to whether things are good or no-so-good, smiles and says Ganesha. Don't worry, overall things shall be much better than how they were in the last year.

Finance and Profession

Mars rules your House of Finances, and Moon rules your House of business or profession. If you offer your prayers to these planets and please them, you can get excellent results this year, says Ganesha. You will see that you are getting concrete progress in your work and
business, but may also remain confused as this may not translate equally in form of financial rewards. Now, note that Jupiter is transiting through a Sign that is the House of Profession and Business from your Moon Sign, thus the success, fame and progress. But, Saturn's influence may cut down on the monetary benefits. But, don't worry, for even if Saturn brings struggles, it also brings you your fair rewards. Also, you may worship Shree Yantra to get better results.

Health

You may suffer from seasonal ailments, owing to your weak immune system, during the year ahead, as the adverse planet Ketu shall be transiting through your House of Diseases. You may also remain confused about your overall health, as your medical diagnostic reports may continue to deem you hale and hearty, while you may feel unwell and unsettled. You should get Sarpa Sukta done by a proficient brahmin, in order to get rid of your troubles, advises Ganesha.

Love and married relationship

The year ahead may bring a bag of mixed results for you in the realm of love and relationships, feels Ganesha. Post July 2015, you may expect a considerable boost to this sphere. You may even fall in love at this time, feels Ganesha. However, before you move ahead and stamp this relationship as committed, do weigh your pros and cons, and also get your Kundalis matched, specifically if you plan to get married.

Education

The year ahead shall be quite smooth on the account of career and education for your Moon Sign, feels Ganesha. Also, Jupiter, currently passing through your House of Gains shall help you even more on this account. You will get success and progress. People who are involved in work and studies related to the fields of media, entertainment, automobiles etc. stand to benefit a lot, says Ganesha.

Remedies

Considering all the planetary positions, Ganesha suggests you to follow these remedial measures:
1. Every Saturday, offer food and grains, especially in the fried form to the beggars/needy sitting outside a Hanuman temple. Also, every Saturday, chant Hanuman Chalisa eleven times.
2. Recite Sundarkaand on Saturdays.
3. Wear Seven Mukhi (Faced) or Eleven Mukhi Rudraksh.Get Homatmak or Japatmak Laghu Rudra Yagna performed.
4. For financial gains, use quartz crystal beaded (Sphatik) maalaa and chant Om Shree Aem Shree mantra 108 times.
5. Since Venus is the Lord of your Sign, you are advised to chant the mantra

Scorpio

Implication - Those born under the Moon Sign Scorpio prefer to live their lives king-size. These people are very passionate, and this very streak makes them quick at picking fights with other people. Scorpio natives may also be restless, indecisive, unable to trust others and quite reactive. Since they also tend to be overconfident, they may make many mistakes along the path of their lives.

Jupiter has been transiting through the House of Fortune, as per your Moon Sign. This is a good and supportive planetary transit. However, Saturn will start transiting through your Moon Sign from 2nd November 2014, initiating the second phase of your Shani Sade Sati (the seven and half years of Saturn), which may bring struggles and troubles for you. You may face health related issues, and may have to go through considerable mental stress. Nonetheless, Ganesha tells you that you have it in you to be strong and move ahead undeterred. Couples waiting to conceive may seek medical intervention and help, and proceed ahead. However, Ketu's transit through your 5th House (the House of child birth and creativity) may cause you problem, you can get over it by worshipping Lord Shiva regularly. For students and disciples of higher learning, the time may be difficult.

Finance and Profession

Heave a sigh of relief. The overall planetary positions indicate that the year ahead shall be quite decent for you on the financial, professional and business front. This will be a good year for business and professional expansion, when you may also plan to introduce
new services or products. Many of you may move offices. However, as soon as you see that your efforts are catching speed, bringing you gains, do not go ahead and risk it all. That would be foolish, says Ganesha. If you have to take risks, do so after careful planning and considerable amount of calculations. Also, avoid taking loans in the year ahead, as far as possible.

Health

Since Saturn is going to start moving through your Moon Sign, you will need to be very careful in all matters related to your health and well-being. This trend may continue for next two and half years. You may suffer from problems related to bones, joint pains or rib-pains.
Thus, be careful, so as to avoid accidents or bone displacement or fractures may assail you. People who are old may also suffer from arthritis and knee pains. You must worship Lord Hanuman and Lord Saturn to get rid of these challenges. If not entirely, regular worship shall at least decrease the intensity of many of your problems, says Ganesha.

Love and married relationship

There may be some troubles marring your realm of love and relationships in the year ahead. Ketu, transiting through your House of Love, may cause confusions, conflicts and hurdles. Also, Saturn, passing through your House of marriage and partnerships may create more troubles for you. Nonetheless, Ganesha asks you to not be scared, as these are only general predictions, and the actual results and their intensity vary and depend upon one's personal horoscope.

Education

With adverse planet Ketu's transit through your House of Studies, you may not expect great success in the matters related to education and career satisfaction. You may remain distracted, which may cause anxiety and restlessness. Naturally, these attributes cannot be good for studies and academic endeavours. This mindset may also affect your exam results, feels Ganesha. So, try to relax and meditate, in order to regain stability and balance. Also, Ganesha is not trying to scare you, but is making you aware of the upcoming challenges, so you remain prepared accordingly. If you do your best to remain disciplined at this time, the tide may even turn in your favour.

Remedies

Considering all the planetary positions, Ganesha suggests you to follow these remedial measures:
1. Worship Lord Shiva and recite Mahamrityunjay mantra regularly.
2. Consecrate an idol of Lord Shiva with pure water to get rid of illnesses and disorders. A dip in the holy waters of Ganga will bring you happiness.
3. For financial gains, use quartz crystal beaded (Sphatik) maalaa to chant Om Shreem Shreeye Namah 108 times.
4. Since the Lord of your Sign is Mars, you may receive great benefits

Sagittarius

Implication – People born under the Moon Sign Sagittarius tend to be friendly, multi-talented, strong, straightforward, rich but somewhat frugal. Most of these people are open about what they feel and may, thus, end up being blunt sometimes. Nonetheless, they are pure at heart.

You will set some goals, as you is your habit, for this year too. And, this will be a good thing to do, says Ganesha. Nonetheless, He advises you to proceed ahead after enough ground-work and calculations, rather than going ahead at a break-neck speed. Have patience and go slow and measured. Also, Saturn, transiting through your House of Expenses may lead to some delays in the financial matters. Your Saturn Sade Sati (Seven and half years) shall start with Saturn beginning to move through the Moon Sign Scorpio from 2nd November 2014. This will be the first phase of your Sade Sati, so you may begin to face some struggles and see some delays on various fronts of your life. The ruler of your Moon Sign – Jupiter – is currently transiting through its Sign of exaltation, which should have been an excellent thing. But since, this configuration happens to be taking place in the 8th Sign from your own Sign, this will not be beneficial for you. However, you may expect good results from your Sign Lord once it moves to Leo, 9th House from your Sign, in July 2015. The adverse planet Rahu is posited in your House of Trade and Business, while Ketu has been transiting through your House of Comforts. Both these may create troubles for you, so be careful.

Finance and business

The Lord of your House of Wealth is Saturn, who shall start to transit through the Moon Sign Scorpio from 2nd November 2014 onwards. And, this Sign happens to be the House of Expenses for your Moon Sign. Keeping these configurations in mind, Ganesha advises you to be pretty careful in matters of wealth and finances, or you may have to suffer losses. Apart from this, you may also worship Lord Hanuman regularly. Thanks to his blessings, you will be able to get rid of most of your troubles. Also, since Rahu is transiting through the 10th Sign from your Sign, you will need to exercise even more care and restraint, says Ganesha. Avoid giving your products or services on credit.

Health

Your health may continue to be as it has been in the recent times. There may not be much change in the situation for you on the health front, that is. However, be careful of seasonal ailments catching you unawares. Thus, take special care whenever there is a season change. Also, the transiting Mars may aggravate your anger and aggression, and thus it would be best for you to remain centred and balanced. Be careful while driving, says Ganesha.

Love and married relationship

The realm of love and relationships and the developments therein shall bring you plenty of happiness in the year ahead, foresees Ganesha. Your own friendly and amiable nature, which makes you a good listener and a generous friend, will put you in a good stead in most
relationships. You do not like conflicts, and thus would go to lengths to avoid the same. At this time, you may also move ahead with confidence an courage in the matters of love and commitment. Ganesha's blessings shall be with you.

Education

The Lord of your House of Education and Career is Mars. As per Ganesha, the planetary positions bode well for these aspects of your life in the year ahead. If you compare the situation in these spheres to the last year's scenario, you will be happy to know that this year things shall be far better. The main reason behind this is that the adverse planet like Ketu has already left a challenging position for your Sign. However, despite a good time, things may get a bit difficult for the people pursuing their higher education or Masters degree.

Remedies

Students should light a lamp before an idol of Lord Shiva, which will result in the desired progress in education, and the removal of all obstacles. Those trying for a child, should worship Lord Shiva by offering milk, which can help in conception. For achieving prosperity you should recite the Puru asuktama and Kanakdhara and Stotra. For making economic progress, you should recite the Vishnusahasranama.

Capricorn

Implication – People born under the Moon Sign Capricorn are seen as intellectual, intelligent and calculative. Most of these natives are art lovers, musicians and seekers of carnal pleasures. Strict traditionalists, they are the ones to follow family traditions very strictly. Many of them are prone to cold and cough.

Jupiter is transiting through Cancer, which happens to be Sign right in front of your own Moon Sign. Thus, this time shall be quite good for the people whose marriage related talks are in process. So, if you desire to get married (even if you haven't started the search as yet), this is a great time. Please move ahead briskly, says Ganesha. In the year ahead, although, thanks to Jupiter may support you, you may feel that your luck is not supporting you much. Blame it on Rahu, who is transiting through your House of Fortune. Also, Saturn posited in your House of Gains may cause you tiffs and mental stress. Ganesha advises you to pray to Goddess Durga to get rid of challenges and roadblocks.

Finance and Profession

Your financial balance may not be very great. But, Ganesha, gives you a good remedy to get financial stability and progress. You should institute an attuned Shree Yantra at your place of worship in your home and/ or office, and pray to it regularly. You should chant Shree Suktak in front of this Yantra, and then you will see that your whole life, including all areas, has changed for the better drastically. Overall, if we look at the planetary configurations, the year ahead can be called as average to favourable for your financial and business sphere.

Health

For the matters of health for you, the year ahead shall be quite favourable, as per Ganesha. Even though the common, seasonal ailments
may assail you to some degree, you may hope to have a relatively relaxed year ahead on account of health. However, people suffering from
chronic ailments like diabetes may have to be quite careful in the first three months of the year 2015.

Love and married relationship

Talking about your married relationship, Ganesha says that Jupiter is transiting through your House of Marriage and Partnerships, that is the 7th House from your Sign. Thus, the year ahead, especially the time till July 2015 shall be extremely good for your marriage, marital relations and even if you are single, but happen to be in a relationship or are looking for love. If you hope to get married, this time shall also favour your endeavours in this regard till July 2015. Plus, people who are in love can also hope to enjoy an excellent period ahead, thanks to Venus' influence.

Education

Venus is a positive planet and its influence on matters of education, knowledge acquisition and career is favourable. You will feel these effects this year, especially if you are a student or a teacher. You naturally enjoy both these roles, any way, says Ganesha. However, you will need to be pretty careful on the following dates – May 18-20, 2015 and on June 16, 2015.

Remedies

In view of the planetary configurations for the year ahead, Ganesha advises the Moon Sign Capricorn natives to do the following:

Worship Lord Shiva by offering curd. This will increase your prosperity. Offer honey, ghee, sugarcane juice to Lord Shiva. It will invite riches. Offer hibiscus flowers to Lord Ganesha. Feed monkeys on every Saturday.

Aquarius

Implication - Those born under the Moon Sign Aquarius tend to be lazy and quiet. Skilled and scholar, these people can win over their enemies. They display great love and affection for others' children.

As per your Moon Sign, it is noteworthy that Jupiter is transiting through your House of Employment, while Ketu has been transiting through your House of Finances. Keeping this in view, Ganesha predicts that you may end up changing your job, in the year ahead. This may be good from your profile progress point of view, given Jupiter's benefic influence, but this success may not translate in any way in the financial realm. Thus, you may get profile benefits, maybe a higher designation, but if you hope for a higher salary, then your hopes may not be met. From the month of November 2014 onwards, Saturn shall begin its transit through your House of Karma, owing to which you may face strife and struggles in work or business. You may feel your overall progress has hit a roadblock. To tide over this difficult time, Ganesha advises you to pray religiously to Lord Hanuman.

Finance and Profession

The time ahead may be quite disconcerting and confusing for you in the matters of finance and wealth, feels Ganesha. Actually, Ketu's transit through the concerned House may be the prime reason behind this. This planetary configuration may also put hurdles onto your
path to financial success. And, keeping this in view you must take remedial measures. Apart from this, Saturn's presence in your House of Business and Trade shall slow down matters in these fields as well. And, since you know of these things from now itself, plan your moves
accordingly, tips Ganesha.

Health

The Lord of your House of Health is Saturn, while the Lord of your House of Diseases is Moon, as per your Moon Sign. As per astrology, Moon is the fastest moving planet, whereas Saturn is a slow moving planet. Owing to this kind of planetary configuration, you tend to catch common, seasonal ailments pretty quickly, but at the same time you recover too at a good speed. In the year ahead, you are advised to remain careful around the dates - April 4, 2015 and September 28, 2015. Rest of the time shall be largely uneventful, feels Ganesha.

Love and married relationship

The forthcoming time looks set to be quite good for your married life, feels Ganesha. The planetary configurations also indicate good news for people waiting since years to get married. If you feel the talks of your marriage get stuck at the last moment itself, things may change for good this year. From 14th July 2015 onwards, when Jupiter moves to Leo, you can expect great results in this direction. You may also get a good looking spouse, says Ganesha.

Education

Mercury holds great importance for your Moon Sign, as far as the fields of career and education are concerned. In view of this, Ganesha advise you to be very careful in terms of profession and education during this year, specifically during August 24, 2015 to October 29, 2015.

Remedies

Keeping all the planetary configurations for the year ahead in view, Ganesha advises you to do the following -

1.Offering 'Naivaidya' to Lord Shiva will increase longevity, bringing you a lot of satisfaction.
2. Offer 'Tambul' to Lord Shiva, and worship Him. This will give you a lot of creature comforts.
3. For financial gains, observe fast every Friday in the reverence of Santoshi Ma or Vaibhav Laxmi.
4. Wear a rosary made of rudraksha or sphatik.

Pisces

Implication - Those born with the Moon Sign Pisces possess a number of qualities. Pure-hearted and clever, they are often found to be experts at any work involving defence, artillery, weapons and operating arms and ammunition related complex systems. Water lovers, many of them are also fond of swimming. On the downside, Pisces natives may have a weak physique and a dreamy, impractical disposition.

Ganesha doesn't foresee much happening in the forthcoming year for the Moon Sign Pisces natives. The main reason behind this is that Ketu, the South Node shall keep transiting through your Sign for the whole year. And, aspecting it shall be Rahu, posited in the House of marriage, partnerships and relationships. Thus, you may continue to remain confused or worried about personal relations, disagreements with a partner, conflict in the partnership business, misunderstandings etc. However, in the beginning of the year, that is from this Diwali to July 2015, thanks to Jupiter's transit through its Sign of exaltation (Cancer), you may expect good results. Since Jupiter shall be transiting through your 5th House, you may expect favourable results in matters related to creativity, research, child conception, higher education etc. If you happen to invest in share and stock markets, you may expect to get good returns, during this time, provided you invest after careful deliberation and calculation.

In your relationship with your spouse or beloved, this year, however, you will need to remain very diplomatic. Focus on solutions, rather than laying the blame on each other, says Ganesha. With Saturn's move to your House of fortune in November 2014, your luck may not support you much, and you will largely have to rely on hard, dedicated work. If you are a true worker, disciplined and sincere, then you will get great results, promises Ganesha. From the health perspective, note that Sun is the Lord of your 6th House, which represents overall well-being. Now, since Sun is a relatively fast moving planet, you will get mixed results – that is whenever it will in a positive position, you will get positive results and vice versa. In the second half of the year 2015, when Jupiter moves to Leo, it shall be moving through your 6th House. This will be especially helpful for your overall health and employment, says Ganesha. Your own intellectual ability too shall benefit from this transit. Your income and expenses shall remain largely balanced in the year ahead. However, you may have to face domestic conflicts, legal troubles or failure in new projects – be careful and proceed ahead with caution, says Ganesha. People who have been trying
to move abroad may have stars in their favour in the second half of the year, says Ganesha.

Finance and Profession

The overall stars for finance and monetary matters shall not be unfavourable for you in the year ahead, feels Ganesha. Post August 2015, you may also consider a job change. At this time, you can also expect considerable financial benefits coming your way. You will also
witness favourable changes in your life at this time. People who are into a trade or business may receive only mixed results, feels Ganesha. All in all, a major change in the business scenario is not foreseen. You may also feel that your luck is not supporting you much. Blame it on Saturn! Pray to Him and focus on hard work. Owing to Rahu's transit through your House of Partnerships and Marriage, you may also face troubles, if you are involved in a partnership business, cautions Ganesha.

Health

You will need to take a good care of your overall health and well-being in the year ahead. You may face a plenty of ups and downs on the health front, but be assured that nothing major is foreseen. You may still go for regular medical check-ups, though. If nothing else, they will assure you that you are hale and hearty. Despite this you may not feel at your best. To get rid of this nagging feeling, Ganesha advises you to offer black sesame seeds to Lord Shiva and also worship Him (Shiva) regularly.

Love and married relationship

If you like someone, but haven't managed to tell them of your heart's desire, this is the right time to do that – especially till July 2015. Love and matters of heart shall keep in good humour all through the year, feels Ganesha. On the other hand, given Rahu and Ketu's influence, the time may not be good for married ones. They may have to face strife and conflict, and may remain confused. Owing to Rahu's transit through your House of Partnerships and Marriage, you may also face troubles, if you are involved in a partnership business, cautions Ganesha.

Education

Planets bode well for your endeavours and efforts in the matters of education and academics in the year ahead. Jupiter Himself is passing through your House of learning and studies, and thus, there can't be anything better than this, if you are in a field like research, education, teaching, higher learning etc. Plus, if this area of your Natal Chart to is favourable, nothing can stop you from achieving exemplary success. Ganesha wishes you luck. Stay disciplined, though, reminds Saturn.

Remedies

Keeping all the planetary configurations of this year in mind, Ganesha offers you the following advice:

1. Students should light a lamp before an idol of Lord Shiva, which will result in the desired progress in education, and the removal of all obstacles.
2. Those trying for a child, should worship Lord Shiva by offering milk, which can help in conception.
3. For achieving prosperity you should recite the Puru asuktama and Kanakdhara Stotra.
4. For making economic progress, you should recite the Vishnusahasranama.

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Asian shares hit by Wall Street fall, China PMI in focus

Asian shares sagged on Thursday after a retreat on Wall Street and falling crude oil prices revived investor concerns over slowing global growth, as markets nervously waited for Chinese and European manufacturing reports later in the day.

Japan's Nikkei share average fell 0.8 percent while MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.27 percent.

"I think it will take some time before markets calm down. Market sentiment is still fragile. The market has realised that the US economy cannot be decoupled from sluggishness in the rest of the world," said Tsuyoshi Shimizu, chief strategist at Mizuho Asset Management.

"But on the other hand, I think the market is now going to the other extreme in betting on recoupling of the US and the rest of the world," he added.

Wall Street shares slid on Wednesday after big gains in the past few days.

Energy companies were hit by a fall in oil prices while earning results from companies such as Boeing and Biogen Idec failed to meet investors' lofty expectations.

In addition, a shooting incident at the Canadian parliament in Ottawa unnerved investors.

Oil prices flirted near multi-year lows hit last week, as data showed a second consecutive weekly jump in US crude stockpiles.

The US Energy Information Administration said crude stocks rose by 7.11 million barrels, more than double the 2.7 million barrel increase analysts had expected. [EIA/S]

US crude futures slipped in Asia, extending its 2.8 percent fall on Wednesday to trade at USD 80.46 per barrel, near two-year low of USD 79.78 hit last week.

The fall in oil prices underscored worries over the health of the global economy as a recession threatens Europe and data this week showed Chinese economic growth slowed to its weakest level since 2009.

A string of manufacturing data from China and Europe due later in the day will give investors another chance to gauge the pulse of the world economy.

US Treasuries prices edged down after small dips in the previous US session, as a mild rebound in US consumer prices in September was seen as reducing some bets the Fed might postpone possible plans to raise rates in 2015.

The 10-year US Treasuries yielded 2.218 percent, having risen as high as 2.250 percent on Wednesday.

The data also helped to lift the US dollar against other currencies. The euro dipped to USD 1.2674, near its lowest level in more than a week, having slipped from USD 1.28875 marked on Wednesday last week.

The dollar also ticked up to 107.18 yen, up almost a full yen from Tuesday's low of 106.15.

Elsewhere, the New Zealand dollar tumbled 0.7 percent to USD 0.7871 following data showing consumer price inflation slowed in the third quarter.

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Wall St ends lower after shooting at Canadian parliament

US stocks erased earlier gains to close lower on Wednesday as a shooting at the Canadian parliament unnerved investors, Boeing and Biogen sold off following results, and energy stocks fell along with oil prices.

Indexes had traded in positive territory for much of the session, putting the S&P 500 on track for a fifth straight day of gains. Earnings initially drove the move higher, with technology and material shares up on the back of strong results.

Market benchmarks began drifting lower after the government reported a surprise increase in crude oil inventories. Energy shares were off 1.7 percent as crude oil CLc1 fell, settling near USD 80 per barrel.

Canada's capital was jolted by the fatal shooting of a soldier and an attack on the parliament building in which gunshots were fired outside a room where Prime Minister Stephen Harper was speaking. Toronto stocks fell 1.6 percent, also affected by oil's slide.

"The situation out of Ottawa hastened the decline a bit, but I think it started with oil because people are very concerned about global growth," said John Canally, chief economic and investment strategist for LPL Financial.

If the Ottawa shooting is related to domestic terrorism, Canally added, "it'll put weight on the markets along with global growth."

The Dow Jones industrial average fell 153.49 points, or 0.92 percent, to 16,461.32, the S&P 500 lost 14.17 points, or 0.73 percent, to 1,927.11 and the Nasdaq Composite dropped 36.63 points, or 0.83 percent, to 4,382.85.

Weaker oil and the Canada violence offset some encouraging economic news. US consumer prices rose 0.1 percent in September as energy costs fell broadly, painting a weak inflation picture that could give the Federal Reserve room to keep interest rates low.

Among the day's earnings movers, Biogen Idec fell 5.4 percent to USD 309.07 after sales of its multiple sclerosis drug, Tecfidera, fell short of lofty expectations.

Boeing Co lost 4.5 percent to USD 121.91, giving back most of the gains from the four prior sessions. Boeing reported higher-than-expected earnings and lifted its outlook, but analysts raised concern about the costs of the 787 Dreamliner.

On the upside, Yahoo Inc and Broadcom rallied a day after both tech companies reported better-than-expected revenue.

Broadcom shares climbed 5.5 percent to USD 39.37 while Yahoo was up 4.5 percent at USD 41.99. The two made up the S&P 500's top percentage gainers.

After the close, revenue at Dow component AT&T fell short of analyst expectations and shares were down more than 2 percent.

Declining issues outnumbered advancers on the NYSE by 2,138 to 928, for a 2.30-to-1 ratio on the downside; on the Nasdaq, 1,988 issues fell and 701 advanced.

The benchmark S&P 500 index posted 44 new 52-week highs and 1 new low; the Nasdaq Composite recorded 54 new highs and 35 new lows.

About 7 billion shares changed hands on US exchanges, below the 8.3 billion October average, according to BATS Global Markets.

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Indian rupee opens higher at 61.15 a dollar

The Indian rupee has opened at 61.15 a dollar on Wednesday, up 16 paise compared to previous day's closing value of 61.31 per dollar on hopes of strong trade in equity market.

The Indian rupee has opened at 61.15 a dollar on Wednesday, up 16 paise compared to previous day's closing value of 61.31 per dollar on hopes of strong trade in equity market.

Pramit Brahmbhatt, Veracity says, "Indian markets are expected to trade strong, though we may see some profit booking at higher levels."

He expects the rupee to gain as indices in Asian markets have already started the day on a strong note. "The USD-INR pair is expected to trade in the range of 60.80-61.80 a dollar," he adds.

Meanwhile, the euro fell against the dollar on reports that the European Central Bank was looking at buying corporate bonds as soon as December in its efforts to revive the stagnating euro zone economy.

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New Maruti Suzuki Alto K10 first drive review

Maruti Suzuki are master strategists when it comes to the small car business. Not only do they have a small car portfolio that is the envy of any manufacturer but they constantly go about reinventing and redefining the business as a market leader rightly should. Case in point this new Alto, before this did anyone really need a micro hatchback with an automated transmission. Not really, but after this new Alto, everybody is definitely going to want one! So the question is how do you introduce a much scoffed at technology such as the... Read More

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PDS Multinational Fashions makes debut

Trading Members of the Exchange are hereby informed that effective from October 21, 2014, the equity shares of PDS Multinational Fashions Ltd (Scrip Code: 538730) are listed and admitted to dealings on the Exchange in the list of 'T' Group Securities. For further details please refer to the notice no 20141017-35 dated October 17, 2014.

Trading Members of the Exchange are hereby informed that effective from October 21, 2014, the equity shares of PDS Multinational Fashions Ltd (Scrip Code: 538730) are listed and admitted to dealings on the Exchange in the list of 'T' Group Securities. For further details please refer to the notice no 20141017-35 dated October 17, 2014.Source : BSE

Read all announcements in PDS Multi

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Nifty to consolidate between 7725-7950: Mohit Gaba

From a larger time frame we could just consolidate in this 7725 to 7950 band and then break on the upside in the coming weeks, says technical analyst, Mohit Gaba.

Technical Analyst, Mohit Gaba:

The Nifty opened gap up cause of global cues and diesel price deregulation on Monday, it however did not close at the highs of the day but at the same time held onto a 100 point gain for the day. We may or may not see immediate follow through on the upside on the index but I get the feeling we will not break 7750 anytime soon.

From a larger time frame we could just consolidate in this 7725 to 7950 band and then break on the upside in the coming weeks.

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Here are few stock trading ideas from Hemant Thukral

Watch the interview of Hemant Thukral, Aditya Birla Money with Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on Futures and Options side of the market, specific stocks and sectors.

Watch the interview of Hemant Thukral, Aditya Birla Money with Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on Futures and Options side of the market, specific stocks and sectors.

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Subsidy burden seen at Rs 85,000 cr with fall in crude: IOC

The government on Saturday fixed new gas price at USD 5.61 per million british thermal unit (MMBTU), increased from USD 4.2 per mmbtu earlier. However, it reduced diesel price by Rs 3.37 per litre following sharp fall in crude oil prices in international markets.. So how are the reforms going to impact the oil marketing companies?

In an interview to CNBC-TV18, B Ashok, Chairman, IOC , said the gas price hike will benefit industry and economy as a whole and expects a higher competition going ahead.

Ashok expects subsidy burden to be around Rs 85,000 crore with fall in crude. "When you compare it with last year, the overall subsidy was about or under recoveries were about Rs 1,40,000 crore out of which the diesel component was nearly Rs 63000 crore. So there has been a significant impact in terms of diesel under recoveries and for the rest of the year since the decontrol has happened there is not likely to be any under recovery on diesel," he said.

Below is the transcript of B Ashok's interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy

Latha: What is going to be the advantage for IOC for the remaining part of the year? Are you getting a sense that it is coming as kind of a mixed blessing, a diesel price cut but nevertheless market prices?

A: I think it is a very forward looking decision which bodes well for the consumers in the country of course the fiscal deficits are likely to go down. IOC and oil industry has been anticipating this announcement since the time APM dismantling has been talked about. I think a considered decision has now been taken by the government.

Actually when you look at our organisation we are well prepared for this day. Yes we do expect an increase in competition and the private sector to recommence their business. I think competition of course has the potential to deliver maximum customer benefit and provide them a greater choice.

Latha: So you would have pressure on your margins actually wouldn't you?

A: I wouldn't say pressure on our margins. Certainly competitiveness will increase but we do have our strategies in place and we have tremendous strength as an organisation. We have a network and infrastructure which is quite unmatched and of course our people are well prepared and set to face the challenges and we have great competence and capability in our structure.

Sonia: So how much do you think the subsidy burden could come down to because of the announcements that came over the weekend?

A: As far as the current year is concerned we have been quite happy because the oil prices have been softening. So overall we expect the subsidies would be somewhere around Rs 85000 crore mark out of which the diesel components during the first six months was about Rs 11000 crore. When you compare it with what happened last year the overall subsidy was about or under recoveries were about Rs 1,40,000 crore out of which the diesel component was nearly Rs 63000 crore. So there has been a significant impact in terms of diesel under recoveries and for the rest of the year since the decontrol has happened there is not likely to be any under recovery on diesel.

Sonia: What about FY16, any projections their?

A: FY16 projections we have not made yet but it all depends on how the crude oil behaves and probably the indications are that it should be in the positive direction. I think overall it bodes well.

Latha: How do the margins for Q3 itself look for you? What is the likely subsidy burden and what is the impact on margins because crude has fallen but so has diesel price?

A: That is right, in terms of margins we cannot make an accurate estimate.

Latha: Will it be better than Q2?

A: Even the Q2 results are not out yet.

Latha: Directionally if you keep the crude prices where they are at about USD 85/barrel and diesel prices where they are now with Rs 3 knocked off, will Q3 be better than Q2 is my point?

A: We do hope so, let us wait and watch.

IOC stock price

On October 20, 2014, at 09:20 hrs Indian Oil Corporation was quoting at Rs 382.80, up Rs 17.25, or 4.72 percent. The 52-week high of the share was Rs 410.90 and the 52-week low was Rs 194.50.

The company's trailing 12-month (TTM) EPS was at Rs 52.04 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 7.36. The latest book value of the company is Rs 271.80 per share. At current value, the price-to-book value of the company is 1.41.

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IFCI's Rs 2000 cr NCD issue to open on October 20

State-run IFCI has come out with its public issue of secured, redeemable, non-convertible debentures of face value of Rs 1000 each for an amount aggregating up to Rs 2000 crore.

State-run NBFC IFCI has come out with its public issue of secured, redeemable, non-convertible debentures of face value of Rs 1000 each for an amount aggregating up to Rs 2000 crore.

The issue is going to open for subscription on October 20 which has scheduled to close on November 21, 2014.

Proceeds from the issue will be utilised towards lending minimum 75 percent of the amount raised and allotted in the issue; and for general corporate purpose: upto 25% of the amount raised and allotted in the issue.

Axis Trustee Services Limited is the book running lead manager and Karvy Computershare Private Limited is a registrar to the issue.

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Gas price fixed at $5.61/mmbtu, diesel cut by Rs 3.37/l

The government on Saturday has fixed new gas price at USD 5.61 per million british thermal unit (MMBTU), increased from USD 4.2 per mmbtu earlier, reports CNBC-TV18. However, it has reduced diesel price in Delhi by Rs 3.37 per litre following sharp fall in crude oil prices in international markets.

This new gas price hike will be effective from November 1, 2014 while the diesel price cut will be effective from today midnight.

Domestic gas pricing has approved by the Cabinet today, said Finance Minister Arun Jaitley (after a cabinet meeting), adding the new gas price hike will be effective prospectively and will be revised on a half-yearly basis.

The Cabinet modified the Rangarajan formula approved by previous UPA government to bring down the increase in rates from USD 8.4 to USD 5.61, Jaitley said.

He further said, henceforth, diesel price will be linked to the market. On the DBT, he said, the government will link direct benefit transfer with Jan-Dhan Yojana and has decided to relaunch DBT scheme.

"We have decided to reduce prices and in Delhi, prices are likely to go down by Rs 3.37 a litre from midnight tonight," said B Ashok, chairman of Indian Oil Corporation , the country's biggest fuel retailer.

Kirit Parikh, former Planning Commission member, said he is delighted with the government's decision to deregulate diesel. "This move is a step in the right direction. Deregulating diesel will have positive effect on fiscal situation," he added.

Lalit Kumar Gupta, managing director and chief executive officer of Essar Oil , too welcomed the government's decision to deregulate diesel.
 
"Deregulation will up competition & benefit end-consumer and for upstream companies, this leaves more money to invest in exploration and production, Gupta added.

Former Oil secretary SC Tripathi said deregulation should improve competition and bring more players into market.

"This is the proper moment to deregulate diesel and excluding Japanese price from the formula is the right move," he added.

According to him, if crude rises, subsidies must go to players on per litre basis.

Meanwhile, the natural gas prices have not been increased since past three years as the oil ministry faced stiff resistance from power and fertiliser ministry.

Energy expert Narendra Taneja said today's gas price hike will boost production without making power or fertiliser too expensive.

However, RS Sharma, the former ONGC CMD, said he is disappointed with new gas price as the quantum of hike is not enough.

According to him, imported gas costs around USD 13-14 per mmbtu, so USD 7 is a better price than USD 5.61 per mmbtu.

Natural gas distribution company  Indraprastha Gas is the first company that decided to hike CNG prices post gas price hike decision. It said CNG prices will be hiked by Rs 4.50 per unit and domestic gas prices will be up by Rs 2.66 per unit."

(With inputs from agencies)

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Capital Raising: Accounting Rules That May Haunt You!

Published on Sat, Oct 18,2014 | 09:18, Updated at Sat, Oct 18 at 09:18Source : Moneycontrol.com 

Buoyed by the expectation of a steady progressive government, the market sentiment in India is definitely up again. Investors are looking out for opportunities and corporates have more optimism than in the recent past. Accordingly, one can expect a steady uptick in the number of companies who are looking to draw more finance, be in the form of debt or equity.

Accomplished senior executives of a company feel upbeat about striking a sweet funding deal for their company. Amidst the celebrations, they need to take a step back and check whether accounting considerations figure in the deal negotiators' list of "must haves" when the deal is inked. This read analyses some of accounting considerations that companies need to keep in perspective, including changes accounting and corporate affairs regulators are making to the standards, which can potentially cause undesirable and unforeseen effects on financial statements, owing to certain clauses of the funding deals.

Steps towards new accounting rules

The Institute of Chartered Accountants of India (ICAI) and Ministry of Corporate Affairs (MCA) seem all set to roll out the new accounting language soon, the Indian Accounting Standards or Ind-AS. The trigger for these developments is a road map issued by the ICAI, supplemented by budget speech of the Hon'ble Finance Minister, in which he stated the urgent need for convergence with the International Financial Reporting Standards (IFRS), and proposed the voluntary adoption of Ind-AS by the Indian companies for their consolidated financial statements from the financial year 2015-16, and on a mandatory basis from the financial year 2016-17.

ICAI has already finalised a roadmap for the adoption of Ind-AS, which mandates transition to Ind-AS by all listed companies and by unlisted companies with net worth in excess of Rs. 500 crores, except Banking, NBFCs and Insurance companies. As readers must be aware, preparation of consolidated financial statements is mandatory under the Companies Act, 2013. As the new rules will not affect the standalone financial statements, taxation related issues are automatically taken care of. In another step forward, the newly constituted National Committee on Accounting Standards (NACAS) is organising meetings expectedly to reiterate the Government's commitment made in the Budget as regards adoption of IFRS-converged standards by Indian companies. Reserve Bank of India (RBI) is also planning to announce its road map for transition to Ind-AS by Banks and NBFCs very soon.

Accounting for typical clauses of funding deals under Ind-AS

Capital raising contracts are complex, uniquely customised and full of mandatory and contingent clauses. To add to that, the accounting guidance under Ind-AS is principles based and will make consideration of each term critical. The impact on leverage ratios and earnings per share can be extremely significant, and may even warrant appropriate restructuring of the capital raising contracts.

Under the current Indian GAAP, accounting for financial instruments is based on their legal form. So, a convertible debenture or a bond would likely be classified as liability, whereas convertible and/or redeemable preference shares would likely be classified as shareholders' funds or equity. In contrast, guidance under Ind-AS does not consider legal form, rather it is based on substance and thus requires consideration of the financial effect of the provisions of the contract.

What one needs to watch out for in a contract to determine whether it is a liability or equity and whether it will affect income statement or not, has been briefly evaluated hereunder. To discuss the guidance under Ind-AS and how it is applied, we use illustrations of a few clauses which generally form part of legal agreements for capital raising in India.

Redemption rights and dividend rights

Let us take the example of typical clauses in preference share instruments.

Under Ind AS 32, a contractual obligation to deliver cash (or another financial asset) satisfies the definition of 'financial liability'. Redeemable preference shares, with fixed mandatory redemption date or redemption at investor's discretion, are therefore, typically classified as liabilities. If the option to redeem the preference shares had instead been at the discretion of the issuer, such preference shares are classified as equity. Thus classification as a liability or equity goes with financial obligation of the issuer.

Similarly, preference shares with only mandatory dividends and no obligation for repayment of principal contain a liability element. If such preference shares are convertible, the terms of conversion could either result in residual equity element or identification of embedded derivatives in the contract. The former leads to a category called 'compound financial instruments', while the latter is called 'hybrid financial instruments' which could add significant volatility to the entity's profit or loss, owing to fair valuations (of the embedded derivative or the entire instrument) necessitated at each reporting period-end.

Equity classification is not precluded in cases where payment of dividend on preference shares is discretionary. In certain cases, payment of dividends may be made contingent upon occurrence of certain event, in which case the analysis is especially judgmental to conclude whether the issuer has true discretion or not.

A relatively common case of contingent dividend is where dividend payment is mandatory based on a percentage of profits. In such a case, discretion would likely be evaluated to not exist, and so the instrument gets classified as a liability.

Exit clauses - conversion rights

Private equity (PE) and venture capital (VC) investors commonly invest in early stage companies through optionally or compulsorily convertible instruments (say preference shares or debentures) and plan their exit in a liquidity event, such as an IPO. Such early stage companies often underwrite a minimum return to PE/VC investors in liquidity events by agreeing to a variable conversion ratio of investor's preference shares or debentures, such that the investor has as much of entity's equity instruments to offload in the capital market as are necessary for earning the committed return.

Under the new accounting rules (Ind-AS 32), a preference share or debenture convertible into equity instruments of an entity is classified as equity if, and only if, there are no circumstances under which the entity can be contractually obligated to convert the preference share or debenture into a variable number of equity shares. This rule is commonly known as "fixed for fixed" rule i.e. fixed number of equity shares for a fixed consideration from convertible preference shares or debentures or other instruments. The conversion rights with PE/VC investors mentioned above violate the "fixed-for-fixed" criterion for equity classification.

Convertible preference shares or debentures that do not satisfy the "fixed for fixed" criterion are generally financial liabilities. As mentioned earlier, such convertible instruments not meeting the "fixed for fixed" criterion often contain embedded derivatives, or put in simple words, the value of a component of such preference shares or debentures changes in response to the change in certain variables, such as the entity's share price or interest rates. Entities need to evaluate whether the embedded derivative element can to be separated and accounted for at fair value through profit or loss. Alternatively, entities have an option to treat the entire instrument at fair value through profit or loss. Nevertheless, any of these alternate accounting treatments add volatility to the income statement of the entity.

Exit clauses - Put options

Entities commonly issue preference shares to investors which give them the right to redeem such shares (i.e. non-mandatory redemption) for cash or put them to the entity in certain situations (for example, non-achievement of an IPO event).

A contract that contains such an obligation for the entity to purchase its own equity instruments for cash (or another financial asset) gives rise to a financial liability for the present value of the redemption amount. If the investor holding such an option does not exercise the option by the end of the stated option period, then the liability will be derecognised with a corresponding credit to equity.

There are certain exceptions to this accounting principle, albeit those are extremely rare circumstances.

Changes to conversion ratio

Preference or equity share or debenture/bond purchase agreements often contain clauses which seek to preserve the ownership rights of investors in circumstances such as bonus issue or rights issue relative to the entity's other equity shareholders. An adjustment to the conversion ratio will preserve the rights of the holders of the instrument relative to other equity shareholders if its effect is to ensure that all classes of equity interest are treated equally. Such types of adjustment are often referred to as 'anti-dilutive' and do not underwrite the value of the conversion option. Rather they preserve the value of the option relative to the other ordinary shares in specified circumstances. Such clauses do not violate the "fixed for fixed" criteria and hence result in classification of the instrument as equity.

However, many clauses in such agreements, though termed as "anti-dilutive", fail the "fixed for fixed" criteria. For example, clauses that link the number or value of the shares to be received on exercise to the entity's share price or some other price or index, will breach the "fixed for fixed" test and hence result in classification of the instrument as a liability. These conversion options are not equity components although they do represent embedded derivatives which, as mentioned above, must be accounted for as a derivative at fair value through profit or loss although problems of separating the embedded derivative can be avoided by designating the entire instrument at fair value through profit or loss.

Accordingly, application of this guidance can be extremely critical and judgmental in cases where the conversion ratio has a potential to change.

Foreign currency convertible bonds (FCCB)

Accounting for foreign currency convertible bond (FCCB) has been under debate for quite some time now. Generally a foreign currency convertible bond is issued at a lower coupon rate, as compared to a similar non-convertible bond. The discount for the issuer is in consideration of the equity conversion option which the issuer provides to the holder.

Under Indian GAAP, generally several companies continue to recognise the interest on FCCB at the stated coupon rate, and the premium on redemption is often adjusted against the Securities Premium Account. This results in lower charge in the income statement on account of the coupon, over the life of FCCB. Under Ind-AS on the other hand, interest is recognised using effective interest rate and premium on redemption is recognised as an expense over the period of the bond as adjustment to the effective interest rate.

Another important question is the classification of such conversion component. If the conversion option entails issuance of a fixed number of equity shares upon conversion, the conversion option of the FCCB is classified as equity.

Conclusion – 'A stitch in time saves nine'

The above are only few of several examples to illustrate that the accounting for clauses in funding deals is going to be complex under Ind-AS, and the implications are very significant. While Ind-AS aligns the standards of financial reporting in India with global standards and is widely expected to attract more capital, CFOs have a task cut out for them. Subjective fair valuation exercises will also be needed while making the evaluation and designing contracts to achieve the intended objectives. They may need to go back to the drawing boards again, evaluate the impact of these clauses and make suitable amendments wherever necessary, and more importantly, wherever possible.

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