KEC International to sell its 381 telecom sites to ATC Telecom Tower Corp

KEC International Ltd has informed BSE that the Company has entered into a binding agreement for sale of its telecom assets in the states of Chhattisgarh, Meghalya and Mizoram consisting of 381 telecom sites to ATC Telecom Tower Corporation Private Limited.

KEC International Ltd has informed BSE that the Company has entered into a binding agreement for sale of its telecom assets in the states of Chhattisgarh, Meghalya and Mizoram consisting of 381 telecom sites to ATC Telecom Tower Corporation Private Limited. The transaction is subject to obtaining necessary regulatory and third party approvals and complying with the conditions mentioned in the agreement.Source : BSE

Read all announcements in KEC Intl

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TCS Q4 net may rise to Rs 5483.6 cr: Motilal Oswal

Sales are expected to increase by 0.2 percent Q-o-Q (up 14 percent Y-o-Y) to Rs 24559.6 crore, according to Motilal Oswal.

Motilal Oswal has come out with its fourth quarter (January-March) earnings estimates for the technology sector. The brokerage house expects Tata Consultancy Services  (TCS) to report a 0.7 percent growth quarter-on-quarter (growth of 3.5 percent year-on-year) in net profit at Rs 5483.6 crore.

Sales are expected to increase by 0.2 percent Q-o-Q (up 14 percent Y-o-Y) to Rs 24559.6 crore, according to Motilal Oswal.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 0.1 percent Q-o-Q (up 6.1 percent Y-o-Y) to Rs 7061.7 crore.

Motilal Oswal's Report on Tata Consultancy Services:

In terms of 4QFY15 performance, TCS expects revenue in constant currency to be in line with 4QFY14 (1.9 percent QoQ CC growth) performance.

TCS expects the cross currency movements to have an adverse impact of 230bp. We expect 2.7 percent QoQ growth in constant currency, and estimate reported revenue at USD 3.95b, +0.4 percent QoQ.

Gross margin is estimated to be flat at 46.1 percent and our SGA estimate is 17.3 percent, resulting in flat margins during the quarter. Adverse movements in cross currencies have been accompanied by marginal appreciation of the INR (30bp) during the quarter. Hence, there is a negative impact of 40bp on margins during the quarter. We expect that to be offset by internal efficiencies.

Our PAT estimate for the quarter is INR 54.8b, up 0.7 percent QoQ, on the back of lower forex gains (INR 2b v/s INR 2.93b in 3Q).

The stock trades at 20.1x FY16E and 16.8x FY17E earnings.

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

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Nifty may trade between 8850-8870: Indira Securities

According to a report by Indira Securities, Nifty likely to trade in the range between 8850 - 8870 in the upper side and 8810 – 8790 in the lower side.

Indira Securities' Market Report:

After witnessing consolidation in previous trading session, local equity markets staged a smart recovery at the start of the week, ending with gains of over half of a percent which lifted both Sensex and Nifty above psychologically crucial 29,000 and 8,800 levels respectively on sustained buying activities by funds and retail investors thanks to positive global cues.

Markets after making a muted start, witnessed momentum in afternoon deals and majorly in last hour of trade, notablyahead of the release of March CPI data. India's consumer inflation probably edged up in March for the fourth straight month from a record low in November, as heavy rains drove up food prices, giving the central bank pause for thought as it waits for the next chance to cut interest rates.

For today's trade Nifty likely to trade in the range between 8850 - 8870 in the upper side and 8810 – 8790 in the lower side.

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

To read the full report click here

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Alzheimer drug nod won't impact Lupin, Glenmark: Expert

Surajit Pal, analyst, Prabhudas Lilladher continues to have a positive outlook on Glenmark with a target price of Rs 1186 per share.

Pharma major  Lupin and  Glenmark Pharma have received a USFDA nod for an Alzheimer's drug. Surajit Pal, analyst, Prabhudas Lilladher believes the same won't have too much impact on either company.

Pal continues to have a positive outlook on Glenmark with a target price of Rs 1186 per share.

Watch video for more.

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Indian ADRs: Tata Motors slips 3%, Wipro Infosys down

Indian ADRs ended lower on Monday. ICICI Bank was down 0.1 percent and Tata Motors slipped 3.03 percent.

Indian ADRs ended lower on Monday. In the IT space, Infosys shed 0.25 percent at USD 36.22 and Wipro was down 1.14 percent at USD 13.03.

In the banking space, ICICI Bank was down 0.1 percent at USD 10.49 and HDFC Bank was up 0.29 percent at USD 58.90.

In the other sectors, Tata Motors slipped 3.03 percent at USD 44.21 and Dr Reddy's Laboratories fell 0.89 percent at USD 59.87.

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Asia mixed on poor US finish, falling iron ore prices

Asian stocks were mixed early Tuesday, with sentiment subdued after Wall Street broke a three-day winning streak overnight and the ongoing rout in commodity prices.

US stocks finished lower on Monday as worries heightened that a strong U.S. dollar could weigh on earnings at major companies. First-quarter earnings season officially kicks off Tuesday, with blue chips JPMorgan Chase and Intel reporting.

The Dow Jones Industrial Average and S&P 500 gave up morning gains to close down 0.5 percent each, while the tech-heavy Nasdaq dipped in and out of negative territory before closing down 0.2 percent on the day.

Nikkei flat

Japan's Nikkei 225 was virtually unchanged by mid-morning trade, remaining short of the psychologically-important 20,000 mark.

Shares of shopping website operator Rakuten advanced 1.8 percent on news that it's planning to acquire online content company PopSugar for USD 580 million. The Japanese conglomerate has been on an acquisition spree, having bought US eBook firm OverDrive last month.

Banking counters were buoyant in early trade, with Resona Holdings and Mitsubishi UFJ Financial Group up over 1 percent each.

Mainland indices choppy

China's Shanghai Composite index inched up 0.2 percent, reversing a lower open, while Hong Kong's Hang Seng index tanked nearly 1 percent at the open after a blistering run-up over the past sessions.

The sell-off was prominent in the insurance, securities and banking sectors; Citic Securities plunged 1.6 percent in Shanghai and 3.4 percent in Hong Kong. Bank of China traded down 1.3 and 0.4 percent, respectively.

Kospi rises 0.3 percent

South Korea's Kospi index pushed through the 2,100-point level for the first time in nearly four years.

Retailers are among the top gainers; Hotel Shilla rallied 12 percent, after surging the daily limit of 15 percent in the previous session, following news that it is joining hands with construction firm Hyundai Development to open the nation's biggest duty free store in Seoul. Lotte Shopping and Shinsegae elevated 2.9 and 3.8 percent, respectively.

Cosmetics maker AmorePacific lost 2.6 percent after hitting all-time highs on Monday.

ASX falls 0.3 percent

Australia's S&P ASX 200 index declined amid mixed trading among its key banking and resources sectors.

Early-trade laggards include BHP Billiton and Rio Tinto, down 1.5 and 0.5 percent each, as iron ore prices continued to flirt with multi-year lows. Major lenders such as Australia and New Zealand Banking Group and Commonwealth Bank of Australia dropped 0.7 and 0.2 percent, respectively.

Suncorp jumped 2.4 percent, seemingly unaffected by news of a leadership change.

Southeast Asia

Singapore's economy grew faster than expected in the first three months of 2015, government data showed on Tuesday, even as the Monetary Authority of Singapore - the country's default central bank - surprised markets by announcing no change to its monetary policy. Gross domestic product (GDP) grew an annualized 2.1 percent in January-March from the year-ago period, stronger than the 1.8 percent forecast in a Reuters poll.

Following the news, the Singapore dollar strengthened as much as 1.3613 against the US dollar from USD 1.3720, while the Straits Times index inched up modestly to near its highest level since December 2007.

Indonesia's central bank will likely hold its key policy rate steady when policymakers meet on Tuesday, Moody's Analytics wrote in a note.

"The recent depreciation of the rupiah has led to increases in the price of fuel. After reducing its fuel subsidy policies, the government allows fuel prices at the pump to mimic the market price. Thus, Bank Indonesia (BI) will aim to keep a lid on rising costs," analysts said.

Meanwhile, markets in Thailand and India are closed for public holidays.

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China's March exports shrink 15% y/y in surprise fall

China's export growth contracted 15 percent in March from a year earlier in a surprise drop that will exacerbate concerns about the slackening Chinese economy.

Analysts had expected exports to rise 12 percent in March on a yearly basis.

In a sign of soft domestic demand, imports into the world's second-biggest economy also shrunk 12.7 percent last month compared with a year ago, data from the General Administration of Customs showed.

That compared with a Reuters poll forecast for a 11.7 percent drop in imports.

"The slump in the exports figure is mainly due to the weak global demand, while the appreciation in dollars against other currencies in the past quarter was also negative for China's exports," said Nie Wen, a strategist at Hwabao Trust in Shanghai.

"More stimulus measures are needed in the future."

The trade performance left China with a trade surplus of USD 3.1 billion last month, much smaller than forecasts for a USD 45.4 billion trade gap.

In line with the slowing Chinese economy, China's trade sector has been buffeted by lacklustre foreign and domestic demand in the past year, raising concerns among policymakers.

Chinese vice premier Wang Yang was quoted by Xinhua state news agency as saying earlier this month that authorities must act to arrest China's export slowdown lest it further dampens economic growth.

Wang was quoted as saying that local governments should offer "preferential policy support" and encourage more private investment in the export sector.

Tepid growth in the trade sector could hurt jobs, which the government wants to protect for fear that widespread unemployment could fuel social discontent and trigger unrest.

So far, China's labour market appears to be holding up well, despite signs that economic growth is steadily grinding to its lowest in a quarter of a century of around 7 percent.

Data on growth in the first quarter will be released on Wednesday.

China expanded grew its trade sector by 3.4 percent in 2014, according to government data, missing the government's growth target of 7.5 percent by more than half.

Taking that disappointing outcome into account, the government has lowered its growth target for 2015 combined imports and exports to around 6 percent.

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Market may open on flat to positive note: Way2Wealth

According to Way2Wealth, markets are expected to open on flat to positive note and on higher side will continue to see stiff resistance around 8800-8840 levels.

Way2Wealth's Derivative Report:

Indian bourses continued to trade with positive biasness last week and rallied by more than 2 percent on weekly basis. From lower levels short covering coupled with fresh buying was seen in capital goods, PSU bank, realty, metals and Oil marketing sector that helped nifty to close above 8750 levels.

In Friday's session all the major indices closed on flat note whereas OI reduced by almost 1.5 percent. Fresh buying activity was seen in infra, power and capital goods sector. Major long positions were added in stocks like Voltas, Tata Global, GMR Infra, HDIL, recltd and Godrej Ind. Short unwinding pressure was seen in PSU banks, metal and textile sector. Stocks like SBI, Sesa Sterlite, RComm, Oriental Bank, SAIL and Reliance Infra saw short covering from lower levels.

Short accumulation was seen in stocks like Lupin, Federal Bank, Shriram Transport, Just Dial, Hero Motocorp and Jindal Steel.

This week markets are expected to open on flat to positive note and on higher side will continue to see stiff resistance around 8800-8840 levels. Overall, markets are expected to trade in broad range of 8650-8850 level for some time before giving any fresh breakout on either side.

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

To read the full report click here

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Gold regains Rs 27K level on global cues

Besides, increased buying by jewellers to meet wedding season demand helped the precious metal to recapture the crucial level. Silver also advanced by Rs 150 at Rs 36,900 per kg on increased offtake by industrial units and coin makers.

Gold prices rose for the second straight day and reclaimed the psychologically important Rs 27,000-mark, surging by Rs 280 to trade at Rs 27,080 per 10 grams at the bullion market on Saturday amid a firming global trend.

Besides, increased buying by jewellers to meet wedding season demand helped the precious metal to recapture the crucial level. Silver also advanced by Rs 150 at Rs 36,900 per kg on increased offtake by industrial units and coin makers.

Bullion traders said besides a firming trend overseas, increased buying by jewellers mainly led to the rise in gold prices.

Gold in New York, which normally sets price trend on the domestic front, shot up by 1.16 percent to USD 1,207.30 an ounce and silver by 2.07 percent to USD 16.49 an ounce in yesterday's trade.

In the national capital, gold of 99.9 and 99.5 percent purity rose by Rs 280 each to Rs 27,080 and Rs 26,930 per 10 grams, respectively.

It had gained Rs 50 yesterday. However, Sovereign remained flat at Rs 23,700 per piece of eight grams in scattered deals. In a similar fashion, silver ready rose further by Rs 150 at Rs 36,900 per kg and weekly-based delivery by Rs 310 at Rs 36,710 per kg.

On the other hand, silver coins, however, traded at last level of Rs 55,000 for buying and Rs 56,000 for selling of 100 pieces.

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Why the euro could fall even further

It's been a one-way euro trip lower. The common currency has fallen every day this week, and is now near the lowest levels in 12 years.

Now, currency traders are keenly watching American economic data, as better news about the economy could lead the euro drop to intensify.

It all comes down to expectations about the Federal Reserve's next move. Most market participants believe the Fed will raise short-term rate targets this year. That should help the US dollar and hurt the euro, as it means that holding dollars will produce greater returns than holding euros, increasing demand for the greenback.

Expectations about a June Fed move have been tamped down due to a bevy of soft economic readings, most conspicuously the March jobs number. But this week, the Fed minutes and hawkish words from William Dudley have told investors that a June hike is still on the table, according to Boris Schlossberg of BK Asset Management.

Dudley, the generally dovish New York Fed president, told Reuters on Wednesday that depending on how the data develops, a June move could be "still in play."

Read More: American stocks are the world's worst this year

In the week ahead, Schlossberg says the biggest data point he will watch is Tuesday's retail sales report. If it indicates that "the US consumer finally started to spend, then dollar bulls run wild, and we may see 1.0500 break" on the euro, which is currently a bit below 1.0600 per dollar.

That's because better data could serve to convince traders that the much-awaited Fed move will come sooner than previously anticipated.

However, some traders say the move is overdone.

"This short-term move is technical, so I expect to see the euro bounce and the dollar pull back off of the recent move," said David Seaburg, head of equity sales trading with Cowen and Co.

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Motorsport and the power of mind...

Motorsport and the power of mind...

There are certain things that living on a frozen lake for three weeks is bound to teach you. Like the importance of wearing umpteen layers of clothes, to ensure that you don't sneeze out ice cubes on sniffing some pepper, even if it means that your mobility is severely restricted. That if you don't want to fall and crack your skull on rock solid ice, it is sometimes simply safer to shuffle your feet and slide along the frozen surface, than attempt taking bold steps. And that, for reasons it is rather impolite to go into great detail of,... Read More

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Rajababu Sampatrao sells 1.16 lakh shares of Alchemist

On April 10, 2015 Rajababu Sampatrao Bandela sold 116,835 shares of Alchemist at Rs 30.15 on the NSE.

On April 10, 2015 Rajababu Sampatrao Bandela sold 116,835 shares of  Alchemist  at Rs 30.15 on the NSE.

On Friday, Alchemist closed at Rs 29.75, down Rs 5.70, or 16.08 percent.

The share touched its 52-week high Rs 68 and 52-week low Rs 26.60 on 23 May, 2014 and 27 March, 2015, respectively.

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Indian rupee opens lower at 62.30 per dollar

At present mixed global sentiments has dented the global equity movement. The rupee range for the day is seen between 62.20-63.00/dollar, says Pramit Brahmbhatt of Veracity.

The Indian rupee has opened marginally lower at 62.30 per dollar on Friday against previous day's closing value of 62.24 a dollar.

Pramit Brahmbhatt of Veracity said, "Local equity market is likely to trade sideways today and will take cues from global markets for further directions. The ongoing strength in dollar may force rupee to depreciate."

Also Read - RBI instructs banks to restructure farm loans

"At present mixed global sentiments has dented the global equity movement. The rupee range for the day is seen between 62.20-63.00/dollar," he added.

The dollar hovered at three week highs against a basket of major currencies as the hapless euro extended its decline.

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Above 8788, Nifty may test 8833-8880: Arihant Capital

According to Arihant Capital, if Nifty for first hour trade above 8788 level then it can test 8833 – 8880 levels. On the downside, 8720-8670 may act as support for the day.

Arihant Capital's market outlook:

Pattern Formation: On the daily chart, we are observing a narrow range body formation which suggests indecisiveness prevailing at current level. However, the momentum indicators are gaining momentum.

Outlook: The current price action on the daily chart suggests that 8788 is immediate resistance for the market. In coming trading session if Nifty for first hour trade above 8788 level then it can test 8833 – 8880 levels. On the downside, 8720-8670 may act as support for the day.

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

To read the full report click here

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Sensex spikes 161 pts on Moody's rating outlook upgrade

09:18

Moneycontrol Bureau The market extended its rally after Moody's upgraded India's outlook to positive from stable. The Sensex climbed 161.63 points to 28869.38 and the Nifty jumped 41.80 points to 8756.20.

About 488 shares have advanced, 58 shares declined, and 79 shares are unchanged on the BSE.

Moody's kept rating unchanged at Baa3. The rating agency believes that there is an increasing probability that actions by policy makers will enhance the country's economic strength. However, it cautioned that unless the country's banking system woes were resolved, its credit profile would remain constrained.

Government's divestment drive for the new fiscal has seen an electrifying start with REC offer-for-sale oversubscribed more than 5 times. Centre mopped up over Rs 1,500 crore from the 5 percent stake sale.

The Indian rupee has opened marginally higher at 62.16 per dollar today against 62.24 Wednesday.

Mohan Shenoi of Kotak Mahindra Bank said, "Upgrade of India's credit outlook by Moody's from stable to positive is likely to be positive for Indian equities, rupee and bonds."

According to him, the USD-INR is expected to trade in a range of 62.05-62.45/dollar.

The dollar rose on after the release of the Federal Reserve's FOMC meeting minutes. The euro is at session lows.

In the US, stocks closed higher as investors shook off a plunge in oil prices and digested the Federal Reserve's meeting minutes as mostly dovish. The Federal Reserve Open Market Committee (FOMC) released the minutes of its March meeting, revealing that central bank policy makers were divided over the timing of an interest rate hike.

In Europe, equities closed mostly lower, despite a surge in energy stocks after Royal Dutch Shell launched a bid for UK-listed BG Group.

And Asia traded positive in the morning.

Among commodities, Nymex crude remained steady after falling 7 percent yesterday as data showed the largest weekly increase in the US crude inventories since 2001. Brent crude traded around USD 56 per barrel.

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Above 8730, Nifty can test 8780-8820: Arihant Capital

According to Arihant Capital, in coming trading session if Nifty for first hour trade above 8730 level then it can test 8780 - 8820 levels. On the downside, 8660 - 8610 may act as support for the day.

Arihant Capital's market outlook:

On the daily chart, we are observing a narrow range body formation which suggests indecisiveness prevailing at current level.

In view of the above pattern formation it is evident that markets are circumspect at current level. In coming trading session if Nifty for first hour trade above 8730 level then it can test 8780 - 8820 levels. On the downside, 8660 - 8610 may act as support for the day.

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

To read the full report click here

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Do not expect rate cuts to impact banks' margins: Edelweiss

The top 3 banks SBI, ICICI and HDFC Bank on Tuesday cut their lending rates by 15 basis points post RBI's nudge.

The top 3 banks SBI , ICICI  and HDFC Bank  on Tuesday cut their lending rates by 15 basis points post RBI's nudge. Discussing the move, Nilesh Parikh of Edelweiss Financial Services said he does not expect rate cuts to impact margins of banks.

According to him, the actual pick-up of credit growth should be seen in Q2 or Q3. 

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BOJ keeps massive monetary stimulus intact

The central bank pledged to boost its monetary base by 80 trillion yen a year, a quantitative easing program that's been in place since April 2013, in a bid to rid of deflation for good.

The Bank of Japan (BOJ) on Wednesday kept its massive monetary stimulus intact, as widely expected, reiterating that the world's number three economy is recovering moderately.

The central bank pledged to boost its monetary base by 80 trillion yen a year, a quantitative easing program that's been in place since April 2013, in a bid to rid of deflation for good.

Dollar-yen fell on the news, trading at 119.99 from 120.14, while the Nikkei 225 index held steady at a 0.4 percent gain.

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Indian rupee opens marginally lower at 62.22 per dollar

The rupee continues to trade in 61-62/dollar range, with strong intervention capping any gains. This trend is expected to continue, says Ashutosh Raina of HDFC Bank.

The Indian rupee opened marginally lower at 62.22 per dollar on Tuesday versus 62.18 Monday.

Also Read - RBI stance won't be dovish; expect liquidity measures: RBS

Ashutosh Raina of HDFC Bank said, "Reserve Bank of India (RBI) is widely expected to keep policy rates on hold in its credit policy today. A small cut though cannot be ruled out."

He further added, "The rupee continues to trade in 61-62/dollar range, with strong intervention capping any gains. This trend is expected to continue."

The dollar firmed in trade having recovered almost all of its losses as the euro came under renewed pressure.

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Cyclicals to give better returns, like pharma: Edelweiss

In an interview to CNBC-TV18, Khemani said he does not expect inflation to rise in the near-term, hence it is a good time for the Reserve Bank to cut rates.

The market will see a gradual upward movement, said Vikas Khemani of Edelweiss Capital. In an interview to CNBC-TV18, Khemani said he does not expect inflation to rise in the near-term, hence it is a good time for the Reserve Bank to cut rates.

He expects a surprise cut of 25 bps in base rate the central bank in its bi-monthly monetary policy.

Discussing markets, Khemani said he sees cyclicals giving better returns in the near to mid-term. He feels the real impact of investment pick-up will be seen in FY17.

Edelweiss Capital continues to stay positive on pharma space. It is positive on NCC , J Kumar Infra  & Simplex  in smallcap space.

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Asia: Global hub of knowledge, trade business

Asia is home to some of the most dynamic economies in the world like Singapore, China, Japan, Korea and India to name a few.

Asia is home to some of the most dynamic economies in the world like Singapore, China, Japan, Korea and India to name a few.

This diverse continent has world-class infrastructure, education, innovation, market efficiency, good trade practices and governance.

Asia has emerged as one of the global hubs of knowledge, trade and big business.  

For complete show, watch accompanying videos.

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Exporter: India's unofficial brand ambassador

The growing tribes of exporters are acting as India's unofficial brand ambassadors. Therefore, as a tribute to exporters, CNBC-TV18 has partnered with State Bank of India to hold the Fifth International Trade Awards.

The growing tribes of exporters are acting as India's unofficial brand ambassadors. Therefore, as a tribute to exporters, CNBC-TV18 has partnered with  State Bank of India to hold the Fifth International Trade Awards.

The award is given to an exporter for an outstanding and consistent performance across several categories. 

For complete show, watch accompanying videos.

SBI stock price

On April 06, 2015, at 09:21 hrs State Bank of India was quoting at Rs 272.50, down Rs 0.95, or 0.35 percent. The 52-week high of the share was Rs 335.90 and the 52-week low was Rs 186.74.

The company's trailing 12-month (TTM) EPS was at Rs 16.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 16.41. The latest book value of the company is Rs 158.43 per share. At current value, the price-to-book value of the company is 1.72.

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Indian Business Icons: India's retail king Kishore Biyani

Today Future Group is a retail conglomerate worth over USD 2 billion and Kishore Biyani an entrepreneur whose right brain rules over the left says he scratched only the surface of modern retail in India.

Today Future Group is a retail conglomerate worth over USD 2 billion and Kishore Biyani an entrepreneur whose right brain rules over the left says he scratched only the surface of modern retail in India.

For more, watch accompanying videos.

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UPA Land Act was anti-farmer; ours isn't: FM

Launching an attack on opposition parties for "misleading the nation" on the land acquisition bill by running a false campaign against it, Finance Minister Arun Jaitley termed the UPA's government's 2013 act as anti-farmer and said his government seeks to correct its contentious issues.

Launching an attack on Opposition parties for "misleading the nation" on the Land Acquisition Bill by running a false campaign against it, Finance Minister Arun Jaitley termed the UPA's government's 2013 Act as anti-farmer and said his government seeks to correct its contentious issues.

Jaitley was speaking at the National Executive meeting of the BJP in Bangalore where he made a detailed presentation of the Land Bill.

While maintaining that the government was open to suggestions to improve its version of the bill, the FM said the legislation, which has so far failed to pass muster with the Rajya Sabha, was "essential for the development of rural India" and added that it would boost industrialization, which would create greater employment opportunities. (The government yesterday repromulgated an ordinance yesterday to increase the bill's shelf life by another few months.)

The government is locked in combat with opposition parties with respect to the new bill, which seeks to drop need for owners' consent and an impact study, for acquiring land for purposes such as public-private partnerships, etc.

The government says the clause of the UPA's 2013 land law, which the current bill seeks to modify, required 70 or 80 percent consent as well as an impact study, hampered the land acquisition process.

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Reserve Bank of India - Bulletin Weekly Statistical Supplement - Extract

Apr 03, 2015, 05.00 PM IST | Source: RBI

Reserve Bank of India - Bulletin Weekly Statistical Supplement - Extract

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Reserve Bank of India - Bulletin Weekly Statistical Supplement - Extract

Reserve Bank of India - Bulletin Weekly Statistical Supplement - Extract

(` Billion) Item 2014 2015 Variation Mar. 28 Mar. 20 Mar. 27 Week Year 1 2 3 4 5 4 Loans and advances           4.1 Central Government – – – – – 4.2 State Governments 14.88 34.83 57.60 22.77 42.72 Item As on March 27, 2015 Variation over Week End-March 2014 Year ` Bn. US$ Mn. ` Bn. US$ Mn. ` Bn. US$ Mn. ` Bn. US$ Mn. 1 2 3 4 5 6 7 8 1 Total Reserves 21,349.1 341,378.1 120.6 1,386.5 3,065.3 37,154.9 3,057.1 37,704.6 1.1 Foreign Currency Assets 19,791.3 316,238.3 117.7 1,351.8 3,182.2 39,879.0 3,179.4 39,832.3 1.2 Gold 1,225.7 19,837.0 – – –70.5 –1,729.8 –76.4 –1,141.0 1.3 SDRs 250.8 4,004.8 2.2 26.2 –17.5 –458.8 –17.1 –453.4 1.4 Reserve Position in the IMF 81.3 1,298.0 0.7 8.5 –28.9 –535.5 –28.8 –533.3 (` Billion) Item Outstanding as on Mar. 20, 2015 Variation over Fortnight Financial year so far Year-on-year 2013-14 2014-15 2014 2015 1 2 3 4 5 6 2 Liabilities to Others             2.1 Aggregate Deposits 85,856.4 316.0 9,551.1 8,800.8 9,551.1 8,800.8 2.1a Growth (Per cent)   0.4 14.1 11.4 14.1 11.4 2.1.1 Demand 8,034.1 63.1 516.2 894.9 516.2 894.9 2.1.2 Time 77,822.3 252.9 9,034.8 7,905.9 9,034.8 7,905.9 2.2 Borrowings 2,258.7 4.5 –6.3 48.3 –6.3 48.3 2.3 Other Demand and Time Liabilities 4,591.4 –303.7 267.0 208.1 267.0 208.1 7 Bank Credit 65,646.8 404.2 7,336.4 5,705.8 7,336.4 5,705.8 7.1a Growth (Per cent)   0.6 13.9 9.5 13.9 9.5 7a.1 Food Credit 944.2 –35.8 20.6 –40.6 20.6 –40.6 7a.2 Non-food credit 64,702.6 440.0 7,315.8 5,746.4 7,315.8 5,746.4 (` Billion) Item Outstanding as on Variation over 2014 2015 Fortnight Financial Year so far Year-on-Year 2013-14 2014-15 2014 2015 Mar. 31 Mar. 20 Amount % Amount % Amount % Amount % Amount % 1 2 3 4 5 6 7 8 9 10 11 12 M3 94,973.3 105,659.9 338.7 0.3 11,231.8 13.4 10,686.6 11.3 11,360.8 13.6 10,529.9 11.1 1 Components                         1.1 Currency with the Public 12,483.4 13,866.9 19.2 0.1 1,121.2 9.8 1,383.4 11.1 1,118.7 9.8 1,335.1 10.7 1.2 Demand Deposits with Banks 8,043.9 8,989.2 64.1 0.7 547.4 7.3 945.4 11.8 614.7 8.2 909.6 11.3 1.3 Time Deposits with Banks 74,426.3 82,708.6 257.8 0.3 9,578.1 14.8 8,282.3 11.1 9,625.0 14.8 8,207.6 11.0 1.4 'Other' Deposits with Reserve Bank 19.7 95.2 –2.3 –2.4 –14.8 –45.8 75.5 384.4 2.5 16.5 77.6 441.7 2 Sources (2.1+2.2+2.3+2.4-2.5)                         2.1 Net Bank Credit to Government 30,386.0 30,044.3 -1,847.3 –5.8 2,926.9 10.8 –341.8 –1.1 2,978.8 11.0 27.2 0.1 2.1.1 Reserve Bank 6,987.1 3,640.0 -1,186.5   654.1   –3,347.1   705.7   –2,919.9   2.1.2 Other Banks 23,398.9 26,404.2 –660.8 –2.4 2,272.8 10.7 3,005.3 12.8 2,273.1 10.7 2,947.1 12.6 2.2 Bank Credit to Commercial Sector 64,424.8 70,357.9 434.8 0.6 7,760.8 13.7 5,933.1 9.2 7,727.6 13.6 5,918.5 9.2 2.2.1 Reserve Bank 88.4 54.6 1.8   54.8   –33.7   57.0   –30.8   2.2.2 Other Banks 64,336.4 70,303.3 433.0 0.6 7,706.0 13.6 5,966.8 9.3 7,670.6 13.5 5,949.2 9.2 (` Billion) Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+8-2-4-7) Repo Reverse Repo Term Repo/ Overnight Variable Rate Repo Term Reverse Repo/ Overnight Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 Mar. 23, 2015 126.04 126.73 – 100.01 1.05 –0.01 – – –99.66 Mar. 24, 2015 32.97 78.94 155.01 160.60 4.05 – – – –47.51 Mar. 25, 2015 36.17 101.40 – 233.77 2.28 1.42 – – –295.30 Mar. 26, 2015 50.87 63.83 – 280.53 6.90 –3.32 – – –289.91 Mar. 27, 2015 83.04 219.84 155.02 166.37 23.55 4.27 – – –120.33 Mar. 28, 2015 – 130.33 – – 58.49 – – – –71.84 The above information can be accessed on Internet at http://www.wss.rbi.org.in The concepts and methodologies for WSS are available in Handbook on WSS ( www.rbi.org.in/scripts/PublicationsView.aspx?id=15762 ). Time series data are available at http://dbie.rbi.org.in Ajit Prasad Assistant General Manager Press Release : 2014-2015/2082

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RBI celebrates 80th Anniversary: Prime Minister urges Banking Fraternity to set Goals for Next 20 Years to remove India's Poverty

The Prime Minister of India Shri Narendra Modi urged the Reserve Bank of India to take the lead in encouraging financial institutions to set concrete targets for consolidating financial inclusion over the next 20 years, to help transform the quality of life of the poor. "I come as a representative of the poor, underprivileged, marginalised and tribals; I am one among them; I seek on their behalf and trust you will not disappoint me," the Prime Minister said at the Financial Inclusion Conference organised by the Reserve Bank of India to celebrate its 80th anniversary. The Conference was held at National Centre for the Performing Arts, Mumbai on April 2, 2015.

The Prime Minister also complimented the Reserve Bank, its staff and all others who had contributed to the development of the institution on the occasion of its 80th anniversary. He alluded to the bi-monthly discussions between him and the Reserve Bank Governor Dr. Raghuram G. Rajan and said that the cordiality in that indicated similarity in thoughts between the Government and the Reserve Bank. "I am satisfied about the role of the Reserve Bank," he mentioned.

Finance minister Shri Arun Jaitley, Shri C. Vidyasagar Rao, His Excellency Governor of Maharashtra and Shri Devendra Fadnavis, Hon'ble Chief Minister of Maharashtra were the Guests of Honour. Former Governors, Deputy Governors and Senior Executives of the Reserve Bank, Heads of Financial Regulators, Chief Executives/Managing Directors/Executive Directors/General Managers-in-Charge of Financial Inclusion and Technology of commercial banks, Chairmen of Regional Rural Banks, representatives from Micro Finance Institutions, Business Correspondents, Training Institutions and academia were among the attending dignitaries.

Offering other benefits to poor, the next Challenge says FM

Earlier, Shri Arun Jaitley, Hon'ble Finance Minister of India, lauded the Reserve Bank, commercial banks and their staff for the success of Prime Minister's Jan Dhan Yojana and said that the next challenge was to activate these accounts and make financial inclusion a success and to make inclusive growth a reality. Complimenting the Reserve Bank on its 80th anniversary, the Finance Minister said that the dialogue between the Government and the Reserve Bank were always constructive.

Empower the poor and the small by offering them choice and opportunity says RBI Governor

In his welcoming remarks, the Reserve Bank Governor Dr. Raghuram G. Rajan recounted the tasks ahead and stated that in the coming year, the Reserve Bank's intent is to create an ownership neutral, institution neutral, and technology agnostic level competitive arena. Technologies enabling touch-and-go payments will be used even as banks find new ways of acquiring and analysing information and reducing transactions costs as they compete to extend financial services to all. The Reserve Bank's state-of-the-art payments system will support technology, even as the Reserve Bank strengthens its cyber-supervision and cyber-security. The central bank will also focus on developing deeper markets to absorb the risks that stay too often in banks or in corporations, he added.

The Governor cautioned that the required national push to finance infrastructure should not override financial stability, which is key to national security. He suggested that going forward, the Reserve Bank needs to develop new sources of risk capital so that India's infrastructure needs can be financed with moderate amount of debt, even as the Reserve Bank helped the system deleverage.

"Perhaps the country's most important financial challenge is to bring financial services to every doorstep and to every small enterprise. The poor are still too far away from, or too uncomfortable stepping into bank branches," he stated and added that "With government initiatives like Pradhan Mantri's Jan Dhan Yojana and the MUDRA Bank, as well as new technologies, new institutions, and new processes such as direct benefits transfers, I am confident that our country can empower the poor and the small with both choice and opportunities. The Reserve Bank in turn has to ensure greater consumer protection and consumer literacy."

He concluded by stating that strong national institutions are hard to build. Therefore existing ones should be nurtured from the outside, and constantly rejuvenated from the inside, for there are precious few of them.

Panel Discussions

The address by the honourable dignitaries was followed by four panel discussions on pertinent issues concerned with financial Inclusion efforts: i) Financial Inclusion-Let all efforts bloom; ii) the Linkage between Financial Inclusion, Financial Literacy and Consumer Protection; iii) Building the Business case for Financial Inclusion: Whether BC Model is the way to go?; and iv) Financial Inclusion – Way Forward. Experts from the fields of commercial banking, financial institutions, Central Government, Non-Banking Financial Companies, Self-Help Groups, journalism, and Board members of the Reserve Bank participated in the panel discussions, each of which was moderated by a Deputy Governor.

Abridged History of the RBI released

"The Concise History of the Reserve Bank of India, 1935-1981", was also released by the Hon'ble Prime Minister on this occasion. The volume has been compiled based on internal documents of the Reserve Bank. An adaptation and abridgement of almost 3,000 pages of the first three volumes of its institutional history, covering the period from 1935, when the Bank was set up, till 1981, "The Concise History of Reserve Bank of India" is one more attempt of the central bank to 'demystify' itself to the general public.

RBI's Environment friendly gestures

In a unique environment friendly gesture, the Reserve Bank has undertaken to plant 200 trees in different parts of the country through a non-Government Organisation called 'Grow Trees'. A certificate stating this was presented in lieu of flowers while welcoming the Prime Minister.

Later, an artwork titled 'Dandi March' created out of shredded currency notes by students of Government Art College, Chennai was presented to each dignitary on the dais as a memento.

Alpana Killawala
Principal Chief General Manager

Press Release: 2014-2015/2083

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Dollar falls against euro ahead of jobs report, unaffected by Iran pact

Investing.com - Investing.com -- The euro continued its steady rally against the U.S. dollar on Thursday, despite stronger than expected U.S. jobs data but remained relatively unchanged after Iran reached a solution on key parameters of a nuclear deal with Western leaders.

EUR/USD stood at 1.0892 in U.S. afternoon trading, up 1.20% or 0.0130 from Wednesday's close. The pair rose to 1.0898 ahead of the release of a U.S. factory orders' report on Thursday morning, before wavering at 1.08 levels for the remainder of the trading session.

EUR/USD likely received support at 1.05 its low from Mar. 11 and resistance at 1.14 its high from mid-February.

The pair remained constant at 1.0892 following an announcement in Lausanne, Switzerland that Iran and Western powers had reached a deal on the framework of a preliminary Iranian nuclear pact before a final agreement could be reached in late-June.

"This framework would cut off the pathway Iran could take to develop a nuclear weapon," U.S. president Barack Obama said at a news conference outside the White House. "This deal is not based on trust, it is based on unprecedented verification."

It is believed that the severe economic and financial sanctions against the Persian Gulf nation will be lifted on a staggered, step-by-step basis depending on how cooperative it is with inspectors from the International Atomic Energy Agency. Sanctions that have limited the Iranian Banking System will be among the limitations that could be initially removed, NBC News reported.

"The European Union will terminate the implementation of all economic and financial sanction and the U.S. will seize the application of all economic and financial sanctions," EU Vice President Federica Mogherini said at a joint news conference with Iran.

Meanwhile, the U.S. Department of Labor said Thursday that initial claims for state unemployment benefits declined by 20,000 last week to a seasonally-adjusted level of 268,000, the lowest level since January. Economists had expected initial claims to rise to 285,000.

The four-week average, considered a better approximation of labor trends, also dropped by 14,750 to 285,500. In addition, U.S. factory orders for February inched up 0.2%, after six consecutive monthly declines. In a separate report released Thursday, the U.S. trade balance decreased from $42.7 billion in January to $35.4 billion in February, amid lower oil prices and a stronger dollar.

Traders await the release of Friday's U.S. jobs report by the Bureau of Labor Statistics for further guidance on potential currency fluctuations. A panel of economists predicted that the workforce added 248,000 non-farm jobs last month, down slightly from February's increase of 295,000. The labor force has added at least 200,000 jobs per month for every month over the last year. Economists expect that unemployment will remain fairly constant at a level of 5.5%.

On Mar. 6, the euro fell roughly 1.8% to 1.08 after a strong U.S. jobs report coincided with the start of the European Central Bank's €60 billion a month quantitative easing program.

Elsewhere, Reuters reported that Greece told its creditors on Wednesday that it could run out of money on April 9. On that date, Greece owes a €450 million payment to the International Monetary Fund (IMF). Greece could meet its obligation to the IMF or repay government salaries and pensions, but might be unable to do both.

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U.S. stocks rise ahead of critical Friday jobs report

Investing.com - Investing.com -- Stocks on U.S. equities markets edged up, as Iran and Western leaders agreed on the framework of a nuclear pact while investors braced for the release of Friday's critical jobs report.

All three major indices closed slightly higher on Thursday, as the markets ended a short week of trading ahead of a three-day weekend for the Easter holiday. There have only been a handful of instances over the last two decades when the markets have remained closed for Good Friday on the same day when the U.S. employment report has been released.

The Dow Jones Industrial Average gained 65.06 or 0.37% to 17,763.24, while the NASDAQ Composite index rose 6.71 or 0.14% to close the week at 4,886.94.

The S&P 500 Composite index, meanwhile, gained 7.27 or 0.35% to 2,066.96 led by gains in the Telecommunications, Consumer Service and Consumer Goods sectors. Stocks in the Technology sector lagged, which ended the day as the only sector on the index to close in the red.

Shares in major energy companies fell slightly on Thursday, after a preliminary deal was reached to curtail Iran's Nuclear Program. As part of the deal economic and financial sanctions will be eased against Iran, raising concerns that a glut of Iranian oil could be released into an already saturated global market. Exxon Mobil Corporation (NYSE:XOM) fell 0.16 or 0.19% to 84.30, while Chevron Corporation (NYSE:CVX) posted late gains to erase earlier losses.

The top performer on the Dow was Home Depot Inc (NYSE:HD), which gained 1.63 or 1.44% to 114.76. The worst performer was Microsoft Corporation (NASDAQ:MSFT), which dropped 0.43 or 1.06% to 40.29 on the 40th anniversary of the founding of the company on Thursday. McDonald's Corporation (NYSE:MCD) also lost 0.48% to close at 95.83, one day after the company announced plans to raise minimum wage to $10.00 by 2016 for employees at its corporate-owned locations.

The biggest gainer on the NASDAQ was Discovery Communications Inc. (NASDAQ:DISCA), which rose 1.24 or 4.01% to 32.15 after the TV programmer reached a TV ratings and automotive segmentation agreement with Portland-based Rentrak Corporation (NASDAQ:RENT), a media measurement company. The worst performer, meanwhile, was American Airlines Group (NASDAQ:AAL) which fell 1.27 or 2.51% to 49.18, following mounting concerns with an oversupply of passenger seats. During the first quarter American Airlines' revenue per seat flown per mile declined, according to a report from Bloomberg. The measure is one of the most closely-watched estimates by airlines industry insiders. American Airlines closed as the worst performer on the NASDAQ for the second consecutive session.

The top performer on the S&P 500 was CarMax Inc (NYSE:KMX), which gained 6.40 or 9.36% to 74.79 after beating an earnings estimates following strong used car sales. The worst performer was Motorola Solutions Inc (NYSE:MSI), which fell 4.40 or 6.60% to 67.45 after the telecommunication company reportedly failed to find a private equity firm to purchase it, according to a report from Bloomberg.

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Kedia Vijay buys 13.3 lakh shares of Sudarshan Chemical

Kedia Vijay Kishanlal bought 1,334,000 shares of Sudarshan Chemical Industries at Rs 82 on the NSE.

On April 1, 2015 Emsaf Mauritius sold 1,340,000 shares of  Sudarshan Chemical Industries  at Rs 82 on the NSE.

However, Kedia Vijay Kishanlal bought 1,334,000 shares of Sudarshan Chemical Industries at Rs 82 on the NSE.

On Wednesday, Sudarshan Chemical Industries closed at Rs 89.40, up Rs 9.25, or 11.54 percent.

The share touched its 52-week high Rs 133.40 and 52-week low Rs 55 on 09 December, 2014 and 2 April, 2014, respectively.

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Hitesh Ramji Javeri sells 1.43 lakh shares of Uniply Ind

On April 1, 2015 Hitesh Ramji Javeri sold 143,922 shares of Uniply Industries at Rs 37.21 on the NSE.

On April 1, 2015 Hitesh Ramji Javeri sold 143,922 shares of  Uniply Industries  at Rs 37.21 on the NSE.

On Wednesday, Uniply Industries closed at Rs 34.35, down Rs 1.80, or 4.98 percent.

The share touched its 52-week high Rs 37.95 and 52-week low Rs 5.55 on 01 April, 2015 and 18 August, 2014, respectively.

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Tulsi Extrusions appoints Chetna Rajendra Nannavare as independent women director

Tulsi Extrusions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 31, 2015, inter alia, has considered & appointed Mr. Chetna Rajendra Nannavare as Independent Women Director, w.e.f. March 31, 2015.

Tulsi Extrusions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 31, 2015, inter alia, has considered & appointed Mr. Chetna Rajendra Nannavare as Independent Women Director, w.e.f. March 31, 2015.Source : BSE

Read all announcements in Tulsi Extrusion

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Here are top 10 stocks to keep an eye on April 1

| | |

Apr 01, 2015, 09.05 AM IST | Source: CNBC-TV18 Here are top 10 stocks to keep an eye on April 1 - PNB, HPCL, HCL Tech, JP Power, Zuari Agro, Chambal Fertilisers, Gammon Infra, eClerx, Kalpataru Power and JSW Energy. ') } } READ MORE ON  top 10, Punjab National Bank, Hindustan Petroleum Corporation, HCL Technologies, Jaiprakash Power Ventures, Zuari Agro Chemicals, Chambal Fertilisers and Chemicals, Gammon Infrastructure Projects, eClerx Services, Kalpataru Power Transmission, JSW Energy

video of the day Budget 2015-16: Revive capex through savings on cheap crude says Kotak Sec

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Above 8510, Nifty may test 8550-8600: Arihant Capital

According to Arihant Capital, in coming trading session if Nifty for first hour trade above 8510 level then it can test 8550 – 8600 levels. On the downside, 8450 – 8380 may act as support for the day.

Arihant Capital's market outlook:

Pattern Formation: On the daily chart, we are observing that prices have taken
support at the upward gap area of 8236 to 8380 (formed on January 15, 2015) and have
formed a bull candle.

Outlook: In view of the above pattern formation it is evident that momentum on the upside is likely to continue. In coming trading session if Nifty for first hour trade above 8510 level then it can test 8550 – 8600 levels. On the downside, 8450 – 8380 may act as support for the day.

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

To read the full report click here

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Time to ride falling interest rates in debt equity: Naren

The cumulative cut of 50 bps by RBI at the start of the year gave a huge boost to the debt market. Given the perfect setting of most of the macro-economic indicators another 50 bps of rate cuts seem to be likely for the rest of the year.

S Naren
ICICI Prudential AMC

2015 has so far been driven by sentiment, alternating between optimism and anxiety; optimism, stemming from the economic prospects of the country and anxiety taking cues from global factors. The market has had quite a decent ascent in the short run, complemented by a positive rate cut from the RBI. On the flipside, global headwinds coming from Europe and US combined with richer domestic valuations should keep optimism in check.

A healthy consolidation will benefit markets

We expect 2015 to be volatile with reasonable uptick and some instances of downdrafts based on the local and global news.After the two good years that we have had in 2013 and 2014, it would be preferable for investor to moderate their expectations in check. It is of course impossible to predict the market, therefore investors should avoid being swayed by the past returns of the market.

The much talked about expectation is of US rate hike and the currency flutters occurring globally. It may be difficult for the US to have a higher interest rate environment, while the rest of the developed world is conducting some form of QE or another. Europe is on a bond buying spree, and so is Japan. This scenario itself is tantamount to tightening in the US.

But, just in case the US does decide to raise its rates in reaction to its strengthening economy, this is very likely to cause a wider impact on the global markets. This stance would lead to re-pricing of equities thus opening up opportunities across equity assets.

Indian economy set to spread wings

Going by the economic data, one can reasonably perceive an expanding Indian economy. Inflation and Current Account Deficit (CAD) are well under control. And the much anticipated reversal of interest rate cycle has just got underway. Given the lower crude price and lowering CAD, Indian equity markets offer a huge scope for investors.

Budget 2015 has gone further in reiterating its intentions of fiscal consolidation with a clear road map. The budget has also given a visibility to kick starting the capex cycle and infrastructure thrust. The government's finances are looking much healthier now with higher revenues and lower expenditure which is a very good combination for any government to have. Lower crude price has saved a few billion Dollars for the government in the form of reduced subsidies.

The attractive Debt fund opportunity

The cumulative cut of 50 bps by RBI at the start of the year gave a huge boost to the debt market. Debt funds have, as a result, returned above-average performance.The CAD, which is already well reined in, is likely to turn into a surplus in the coming quarters if the soft crude price stays. This has resulted in a huge savings of forex and helped the CAD tremendously in the recent past. Fortunately, inflation is already a percentage point below RBI target of 6%, aimed for the beginning of 2016. The disinflation in the global commodity prices has been a great boon for a consumer like India in terms of inflation. WPI too is in the negative territory at -2.0 percent in February 2015.

Given the perfect setting of most of the macro-economic indicators another 50 bps of rate cuts seem to be likely for the rest of the year. Investors holding relatively higher duration funds are likely to benefit immensely from this while more conservative investors can look at creating a debt portfolio with medium and long term funds.

Beneficial scenario for the leveraged sectors

The reversal of the interest rate scenario should come as a huge boost to highly leveraged companies. The 50 bps rate cut effected so far by RBI, when passed on to the broader economy, will reduce the interest burden of these companies. Some of these highly leveraged companies are well poised to make the most of the rate cycle reversal. However, it would require good diligence to spot the good companies in this basket. They are unlikely to have the best financials or balance sheets and research alone can unearth the worthy candidates. The financial sector too looks well placed to benefit from the lower interest rates.

Apart from improving credit demand, the NPA situation too is likely to improve. Public sector banks require capital infusion and this when combined with lower NPA and higher credit growth bodes well for the financials space. The infrastructure sector also looks to be a beneficiary of the increased government spending and recovery in the capex cycle.

To sign off

Good economic indicators aided by softening commodity prices place India in a sweet spot with regard to economic growth. Though Indian equities are not exactly cheap currently, they appear the most attractive emerging market for investors. The outlook for Indian equity is very positive for the next 3 to 5 years with even debt likely to join in with good performance, given the downward trend in interest rates.

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Mkt oversold; get out of short positions: Sudarshan Sukhani

Technical analyst, Sudarshan Sukhani of s2analytics.com spoke with Latha Venkatesh & Sonia Shenoy of CNBC-TV18. He shared his reading and outlook on the market and also gave recommendations on various stocks.

Technical analyst, Sudarshan Sukhani of s2analytics.com spoke with Latha Venkatesh & Sonia Shenoy of CNBC-TV18. He shared his reading and outlook on the market and also gave recommendations on various stocks.

According to Sukhani, market is deeply oversold so short positions should be closed. He said, "Bias for today as an intraday trader would be to look for buying opportunities."

Below is the transcript of Sudarshan Sukhani's interview on CNBC-TV18.

Latha: What is the premonition, that bottom we appear to have hit intraday on Friday will hold, a green start, you dare to go long?

A: We had three trades in the Nifty in the month of March – one was when we went long hoping that we will reach 9,300; we did not but still the trade ended with a profit and two short trades. So, March ended rather well for traders who are watching this show. What happens now?

Short positions should be closed and that was the suggestion on March 26th and I am repeating it. Market is deeply oversold, not only Indian market but the world over, so get out of short positions if one hasn't done that. It is too early to talk about green shoots but they may happen.

So, the bias for today as an intraday trader would be to look for buying opportunities. I am not saying that we are starting a recovery again but at least the selling has stopped. Selling is having a low risk reward.

For stock specific ideas, watch videos.

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Sensex up 200 pts, Nifty reclaims 8400; Wipro, HDFC gainers

09:18

Moneycontrol Bureau The market rebounded sharply on Monday, tracking positive global cues. The Sensex rallied 197.15 points or 0.72 percent to 27655.79 and the Nifty reclaimed 8400, up 60.80 points or 0.73 percent at 8402.20. About 474 shares have advanced, 71 shares declined, and 88 shares are unchanged on the BSE.
 
Wipro, HDFC, Sesa Sterlite, M&M, Bharti Airtel, ITC, BPCL, Idea Cellular and Asian Paints rallied 1-1.5 percent.

The Indian rupee opened lower by 15 paise at 62.56 per dollar on Monday against Friday's closing value of 62.41 a dollar.

The dollar holds steady after the head of the US Central Bank assured investors that the path back to 'normal' interest rates will only occur at a gradual pace.

Agam Gupta of Standard Chartered said, "Expect year-end dollar inflows to continue in this shortened week."

He further added, "Exporters will continue to sell on upticks to levels of  62.65-62.70 and local government banks will mop up dollars on any downticks to 62.35-62.40/dollar. Expect it to be a rangebound day with good two way interest."

Among global markets, in the US, stocks closed mildly higher as investors digested Fed Chair Janet Yellen's remarks remained cautious ahead of first quarter earnings in April. Yellen said a rate increase may be warranted later this year, adding that an increase in core inflation is not essential before the fed raises rates.

The third estimate for Q4 US GDP came in unchanged at 2.2 percent. While corporate profits fell, consumer spending was revised higher to 4.4 percent from 4.2 percent, the fastest rate since the first quarter of 2006.

And in Asia, shares opened with a positive bias. Softer than expected factory output from Japan hurt sentiment, February industrial production fell 3.4 percent month-on-month, biggest drop since June 2014.

Among commodities, oil prices slipped as Iran and six world powers tried to reach a deal that could add oil to the market if sanctions against Tehran are lifted.

From precious metals space, gold snapped its rally to slip below USD 1200 an ounce as dollar steadies.

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The big event : NSE funancial national finale

NSE's Funancial Quest, Season 4, this is the national finale. Three outstanding teams battled hard in the semi-finals to qualify as the winners of each of them and here in the national finals they will battle again and this time it is for the title of a national champion.

NSE's Funancial Quest, Season 4, this is the national finale. Three outstanding teams battled hard in the semi-finals to qualify as the winners of each of them and here in the national finals they will battle again and this time it is for the title of a national champion. Each of these teams has had a victory at their city level, semi-finals and one victory is all that stands in their way towards being crowned national champion.

Watch videos for more..

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Real Estate TV: Themed lifestyles now come from developers

Theme based projects are the buzz-word these days. Developers of housing societies today are competing with each other to lure customers with theme based projects. Each theme promises a unique experience, but are they actually practical and a desirable option or is it just a mere marketing gimmick?

Theme based projects are the buzz-word these days. Developers of housing societies today are competing with each other to lure customers with theme based projects. Each theme promises a unique experience, but are they actually practical and a desirable option or is it just a mere marketing gimmick?

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Small Cap World buys 82.5 lakh shares of City Union Bank

Small Cap World FND INC bought 8,254,568 of City Union Bank at Rs 99.96 on the NSE.

On March 27, 2015 Amansa Holdings Private Limited sold 10,461,056 shares of  City Union Bank  at Rs 99.99 on the NSE.

However, Small Cap World FND INC bought 8,254,568 of City Union Bank at Rs 99.96 on the NSE.

On Friday, City Union Bank closed at Rs 95.55, down Re 0.20, or 0.21 percent.

The share touched its 52-week high Rs 102.60 and 52-week low Rs 52.85 on 4 M0arch, 2015 and 07 April, 2014, respectively.

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Mehrangarh Fin sells 1.6 lakh shares of Abhinav Capital

Prakhar Advisors & Traders Private Limited bought 159,500 shares of Abhinav Capital at Rs 71.95 on the BSE.

On March 27, 2015 Mehrangarh Financial Advisors Private Limited sold 160,000 shares of  Abhinav Capital  at Rs 71.95 on the BSE.

However, Prakhar Advisors & Traders Private Limited bought 159,500 shares of Abhinav Capital at Rs 71.95 on the BSE.

On Friday, Abhinav Capital Services closed at Rs 71.95, up Rs 3.40, or 4.96 percent.

The share touched its 52-week high Rs 71.95 and 52-week low Rs 28 on 27 March, 2015 and 25 August, 2014, respectively.

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Below 8300, Nifty may test 8200-8250: Arihant Capital

If Nifty trades below 8300 level then it can test 8250 – 8200 level. Broadly, 8300 level on closing basis is make or break level going forward, says a report by Arihant Capital.

Arihant Capital's market outlook:

The current price action suggests that 8300 remains crucial level. In coming trading session if Nifty holds the above mentioned level then a bounce up to 8400 – 8440 cannot be ruled out. However, if Nifty trades below 8300 level then it can test 8250 – 8200 level. Broadly, 8300 level on closing basis is make or break level going forward.

On the daily chart, we are observing a bear candle near the upward gap area of 8236 to 8380 formed on January 15, 2015.

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

To read the full report click here

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Ganeshaspeaks: Market prediction for March 27

It is very likely that you may not be able to take a decision as to whether buy or sell. Overall, this looks set to be a confusing day, says Ganesha.

By Shri Dharmesh Joshi of Ganeshaspeaks

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

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

Moon is in Rahu's Nakshatra i.e. in Ardra Nakshatra today.

It is very likely that you may not be able to take a decision as to whether buy or sell. Overall, this looks set to be a confusing day.

Nifty shall remain down from Opening to 10:11.

Nifty shall remain up from 10:11 to11:00.

From 11:00 to 12:12, there may be a mixed to negative pattern in Nifty.

12:12 to 13:00, the trend shall be up in Nifty.

13:00 to 14:00, Nifty shall be down.

14:00 to 15:30, Nifty shall be up.

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

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

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SBI: Updates on JV agreement

The Executive Committee of the Central Board (ECCB) has on March 25, 2015 decided to initiate the necessary action as per JV agreement for dilution of SBI's stake in SBI General Insurance from 76% to 51% with corresponding increase of stake of IAG from 26% to 49%, including appointment of a valuer to facilitate valuation and price discovery.

State Bank of India has informed BSE that consequent upon the promulgation of the Insurance Laws (Amendment) Ordinance, 2014 and subsequently passed by both the houses of parliament, the Executive Committee of the Central Board (ECCB) has on March 25, 2015 decided to initiate the necessary action as per JV agreement for dilution of SBI's stake in SBI General Insurance from 76% to 51% with corresponding increase of stake of IAG from 26% to 49%, including appointment of a valuer to facilitate valuation and price discovery.Source : BSE

Read all announcements in SBI

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Nifty breaks 8500 ahead of expiry; Sensex slips below 28000

The market opened sharply lower on Thursday with the Nifty breaking 8500 ahead of expiry of March derivative contracts. The Sensex lost 211.54 points to 27900.29 and the Nifty declined 55.85 points to 8474.95.

09:19

Moneycontrol Bureau The market opened sharply lower on Thursday with the Nifty breaking 8500 ahead of expiry of March derivative contracts. The Sensex lost 211.54 points to 27900.29 and the Nifty declined 55.85 points to 8474.95.

About 172 shares have advanced, 307 shares declined, and 103 shares are unchanged on the BSE.

The Indian rupee slipped in the early trade on Thursday. It has opened lower by 22 paise at 62.55 per dollar versus 62.33 Wednesday.

The US dollar slipped against major world currencies on weak economic data in the US but still held onto gains of more than 7 percent year-to-date.

Mohan Shenoi of Kotak Mahindra Bank said, "Markets are expecting a delayed start of the Fed rate hike cycle. This has stalled dollar rally against major currencies."

He further added, "Rupee has also gained against the dollar in the last one week. The rupee is expected to trade in a range of 62.20-62.50/dollar today."

In the US stocks plunged, closing more than 1 percent lower as investors weighed the impact of the strong dollar on the economy and the coming earnings season.
On the data front in the US, February's durable goods orders posted a decline, rather than the modest expected increase, under pressure from the strong dollar and weak global demand.

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Indian rupee opens marginally lower at 62.32 per dollar

The currency market today is expected to take cues from the month-end demand from importers which could put some pressure on the rupee, says NS Venkatesh of IDBI Bank.

The Indian rupee has opened marginally lower at 62.32 per dollar on Wednesday against previous day's closing value of 62.26 a dollar.

NS Venkatesh of IDBI Bank said, "The currency market today is expected to take cues from the month-end demand from importers which could put some pressure on the rupee. The rupee is expected to trade between 62.20-62.40/dollar today."

The US dollar rebounded against the euro on persistent bullish sentiment toward the greenback. The euro slipped below 1.10 to the dollar.

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Oil prices steady, but inventory build drags

Brent oil futures were trading at USD 55.13 a barrel at 0229 GMT and US WTI crude was at USD 47.48 a barrel - both virtually unchanged from their last settlement.

Crude futures were steady on Wednesday, but ballooning volumes in storage around the world were expected to pressure prices.

Brent oil futures were trading at USD 55.13 a barrel at 0229 GMT and US WTI crude was at USD 47.48 a barrel - both virtually unchanged from their last settlement.

"Another week, another record US commercial stock level," said US -based PIRA Energy.

US crude stockpiles were forecast to extend their record build into an eleventh consecutive week.

A poll of eight analysts, taken ahead of weekly reports from industry group the American Petroleum Institute (API) on Tuesday and the US Energy Information Administration (EIA) on Wednesday, showed a crude stock build of 5.1 million barrels on average last week.

PIRA said that Japanese crude stocks had also risen slightly due to higher imports and spring-time refinery maintenance.

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UD Trading Group buys 15.5 lakh shares of Ushdev Intl

On March 23, 2015 UD Trading Group Holding PTE Ltd bought 1,554,694 shares of Ushdev International at Rs 292.03 per share on the BSE.

On March 23, 2015 UD Trading Group Holding PTE Ltd bought 1,554,694 shares of Ushdev International  at Rs 292.03 per share on the BSE.

However, Ushdev Commercial Services Private Ltd sold 1,547,694 shares of Ushdev International at Rs 292 per share on the BSE.

On Monday, Ushdev International closed at Rs 298.90.

The share touched its 52-week high Rs 388 on 15 January, 2015.

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India not in structural slowdown; like NBFCs: Credit Suisse

Neelkanth Mishra of Credit Suisse feels the weakness in the Indian market is partly due to government's fiscal tightening. But on the brighter side, he believes there will be a pick up in government spending from April 1.

The weakening in the Indian markets is on the back of the earnings cut seen over the past few months. The market has seen 5 percent cut in earnings in the last three months, is the word coming in from Neelkanth Mishra, head of equity strategy, India at Credit Suisse. He believes earnings could see further cuts post the March quarter.

According to him, investors are worried about weak demand across the economy. Cement, paints and consumer discretionary sales have seen weakness, he says.

Mishra feels the weakness is also on account of government's fiscal tightening. But on the brighter side, he believes there will be a government spending pick up from April 1, due to which the economy too will see an uplift. He sees the economy reviving in April-May. "India is not in a structural slowdown," he told CNBC-TV18.

He says other economies such as Europe and Japan have started to look attractive at this point, but that won't lead to much of a waning in interest in Indian markets from FIIs. FII interest towards the Chinese market is increasing too, he adds. However, the interest for Indian equity market among institutional investors remains intact, he feels.

He is overweight on discretionary sectors such as paints, two-wheelers, NBFCs, consumer staples and private banks. However, he is underweight on PSU banks and metals.

Stay tuned for more…

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Piccadily Sugar to sell its sugar mill division

Piccadily Sugar & Allied Industries has considered to sell, transfer, dispose of whole or substantially the whole of the Sugar Mill (division) of the Company including Land & Building, Plant and Machinery & other assets both moveable & immoveable located at Jakhal Road, Patran, Distt. Patiala, Punjab.

Piccadily Sugar & Allied Industries Ltd has informed BSE that the board of directors of the Company has considered to sell, transfer, dispose of whole or substantially the whole of the Sugar Mill (division) of the Company including Land & Building, Plant and Machinery & other assets both moveable & immoveable located at Jakhal Road, Patran, Distt. Patiala, Punjab.It is has been decided to seek approval of the shareholders of the Company under section 180(1) (a) of the Companies Act 2013 through Postal Ballot.Source : BSE

Read all announcements in Piccadilly Sug

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Anar Industries's EGM on April 15, 2015

Anar Industries Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company will be held on April 15, 2015.

To read the full report click here

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Motomiu Katanga Uno first ride review

After seeing that intro line you might ask me, What in heck do you mean? Aren't all customs better than stock? Phooey! But the answer to that question is a matter of perspective. Most people think of custom bikes as good-looking. Not entirely inaccurate. But to many that's all that matters. Unfortunately I cannot be that person. Not thinking about riding a bike - and that includes customs - is like going to an unlimited buffet with your mouth sewn closed. Painful, uselessand frustrating. And if I'm honest, I've seen so... Read More

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Exclusive chat with Havas Chairman CEO, Yannick Bollore

Havas's chairman and CEO, Yannick Bolore was in the country recently. Storyboard's Editor, Anant Rangaswami caught up with him to understand the communication holding company's 'Together' strategy, how it helps its clients and the challenges in managing procurement costs.

Havas's chairman and CEO, Yannick Bolore was in the country recently. Storyboard's Editor, Anant Rangaswami caught up with him to understand the communication holding company's 'Together' strategy, how it helps its clients and the challenges in managing procurement costs.

 Watch video for more...

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Crude oil surges amid weak dollar and new federal standards on fracking

Investing.com - Investing.com -- Crude oil futures soared on Friday afternoon, amid a weaker U.S. dollar and the release of new standards for fracking on federal lands by the White House.

On the New York Mercantile Exchange, WTI crude oil for April delivery surged more than 5% or 2.21 to $46.17 a barrel, before settling at $45.87 at Friday's close. Future contracts for May delivery of Texas Light Sweet crude also increased 1.16 or 2.54% to 46.69.

Oil prices shot up as the dollar continued to weaken in the wake of relatively dovish comments from Federal Reserve chair Janet Yellen earlier in the week. While the Fed removed its stance of remaining patient on its timing of a potential interest rate hike, Yellen appeared to strike a dovish tone with lower forecasts on inflation and GDP growth. The U.S. central bank also forecasted that interest rates will rise at a slower pace than had previously been expected.

Yellen's comments have sent the dollar spiraling from 11-year highs reached last week. The euro rose nearly 2% against the dollar in U.S. afternoon trading to 1.0867, while the U.S. Dollar Index fell 1.35% to 98.11. Speculative oil traders used the weakening dollar to hedge their positions in crude.

Meanwhile, the U.S. Interior Department on Friday approved the most comprehensive set of rules to date on how to govern drilling on Federal lands using hydraulic fracturing, a process where high-pressured fluid composed of water, chemicals and sand is injected into deep-rock formations creating cracks wide enough in the rocks to allow shale gas to flow more freely. The new regulations could impact approximately 100,000 oil and gas wells on Federally managed land throughout the country.

Among the new standards, the Interior Department will require firms to disclose the chemicals they use in the fracking process, improve standards for storing waste and construct stronger cement barriers to prevent oil leaks. In response two oil industry groups filed a lawsuit to challenge the regulatory changes, Politico.com.

As oil prices have headed on a downward trend in recent months, Saudi Arabia's oil minister last week blamed shale producers in the U.S. for the precipitous drop. On the Intercontinental Exchange (ICE), brent crude for May delivery rose 0.85 or 1.56% to $55.28 a barrel.

It came one day after Ali al-Omair, Kuwait's oil minister, indicated that current market conditions have forced Opec to maintain its production level. While al-Omair said Kuwait "will be very happy if other producers cut output," he added that the world's 10th largest oil producer can't afford to "lose its share in the market." Kuwait currently produces crude oil at a rate of approximately 3 million barrels per day.

Crude oil futures remained relatively unchanged after oil services firm Baker Hughes (NYSE:BHI) released its weekly rig count on Friday afternoon. U.S. oil rigs for the week ending Mar. 6 declined by 41 to 825. The report comes one day after the Energy Information Administration (EIA) said in a report that oil is being pumped in the U.S. at its fastest rate in nearly 30 years.

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