'The film industry will remain soft targets and continue to be picked upon with no respite, with no choice but to give in due to personal safety and financial compulsions,' says director Suparn Verma.
Summary of sports events and persons who made news on Thursday
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
While three operational mines in Chhattisgarh had a capacity of 12 million tonnes (mt), six were yet to start production.
Dharmendra Pradhan lays bare the next course of action for his ministry and says RIL will have to pay the same price at which it produced the volumes.
Benchmark indices failed to sustain gains and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI). The 30-share Sensex ended down 213 points at 29,380 and the 50-share Nifty closed down 74 points at 8,922. Intra-day, Sensex reached the all-time high mark of 30,024.74 while Nifty touched the life-time high level of 9,119.20. In the broader market, both the BSE Midcap index and Smallcap indices, down 1% and 1.2% each underperformed the front-liners. Market breadth in BSE ended negative with 1,882 declines against 1,010 advances. A day after signing an agreement with Finance Ministry on inflation targeting, RBI surprised the markets with an early post-budget repo rate cut of 25 bps (basis points) to 7.5% from 7.75% which was again outside of central bank's scheduled policy review meetings as the earlier rate cut effected on January 15. "RBI's latest rate cut of 25 basis points, while a surprise in its timing is in-line with our expectations of a sharp rate-cutting cycle over the coming quarters. With inflation sustainably lower by 500bps, the RBI has in recent months acknowledged the scope for rate cuts and was only waiting for additional comfort that the government's fiscal policy would not play spoil-sport," said Dinesh Thakkar, chairman and managing director at Angel Broking in a note. Analysts at Karvy believe that further monetary policy action will depend on number of factors including easing of supply constraints, improved availability of power, land, minerals and infrastructure, fiscal consolidation, the pass through of rate cuts by banks and the expected monsoon. Citing weakness in some sectors of the economy and the overall global trend towards monetary easing as rationale for the rate cut the central bank also exuded confidence in the road map for fiscal consolidation as laid out in the Union Budget, 2015. Commenting on how the markets reacted to RBI's surprise move, K Subramanyam assistant vice-president (institutional research), Asit C. Mehta Securities said, "The unexpected cut did take the market by surprise .However, credit off-take is not dependant only on interest rates. A gradual revival in the economy would be of more help which would trigger credit off-take. Hopefully this will follow and RBI's action would prove helpful. From market point of view this is bullish as equity becomes more attractive vis-a-vis falling interest rates." On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 773 crore on Tuesday, as per provisional data. Buzzing Stocks 9 out of the 12 sectoral indices of BSE ended in red. BSE Metal index, down 2.4% was the top loser followed by BSE Oil & Gas and Power indices, down 1.3% each. BSE Healthcare index, up 1.2% and BSE FMCG index, up 0.9% were the top losers. Bank stocks came under during late noon trades as traders booked profits at higher levels. However, RBI rate cut may encourage large lenders to cut their lending rates boosting demand for home and auto loans and provide funds for various stalled and new projects. Many stalled projects across the country are waiting for cash to restart work. The stock of stalled projects at the end of December 2014 stood at Rs 8.8 lakh crore or 7% of GDP. ICICI Bank ended down 0.1%, Axis Bank and SBI declined over 3% and HDFC Bank shed 1.5%. Sun Pharma gained over 6% on approval granted to Sun Pharma Advanced Research Company (SPARC) by US FDA for an antiepileptic drug. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. SPARC was formed in 2007 when Sun Pharma separated out its active projects in drug discovery and innovation into a new company. Dr Reddys Lab and Cipla have gained over 1% each. ITC gained over 1% after consecutive sessions of losses on the proposed larger-than-expected hike in excise duty on cigarettes in the Union Budget. The biggest ever auction of spectrum by the Department of Telecommunications (DoT) started on Wednesday in the morning where government expects to garner Rs 80,000-1lakh crore from the sale of spectrum. Idea Cellular gained over 2%, Reliance Communication gained around 1% and Bharti Airtel closed 0.5% higher. Metal stocks were under pressure in today's session. Hindalco declined over 3%, Sesa Sterliteended down over 4% and Tata Steel closed down 2%. Profit-taking in IT stocks led to Wipro losing around 1.8%, Infosys declining 0.7% and TCS losing 1.5%.
While the number of international MF schemes is increasing, so is the confusion for investors.
'No private project will take off at such high interest rates'
A Texas company will submit a report by June on whether a company controlled by RIL 'stole' natural gas from the wells where ONGC is contracted to operate in the KG basin, as alleged by ONGC.
The threat may be a decade away, but it has brick-and-mortar sellers rethinking their strategies and banking on the govt to regulate online companies.
The document titled 'Details of the steps in the decision making process leading to the award of 36 Rafale fighter aircraft order' stated that the process as laid down in the Defence Procurement Procedure-2013 has been followed in procurement of the Rafale aircraft.
Russian firms expand their footprint in India. And take bigger steps to do business with India's private sector.
Enormous debt isn't the only thing afflicting Air India. Its work culture is an equal culprit in its downfall.
The index had risen over 585 points in the previous three sessions.
Cyber crimes caused by the insured's employees also get covered under the policy but would exclude the actual perpetrator.
'There is no difference between the earlier government and the present government.' 'They are all following the economic policy based on the Chicago School of thought.' 'This school of thought says the government should have very little role in governing the country and the majority of the work should be handed over to the private sector.' 'This has not succeeded in the US.' 'Yet, it is being tried here by people like Arvind Subramaniam, Arvind Panagariya, Urjit Patel and Raghuram Rajan.'
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
The year 2014 has been an eventful one for India. The country got a new government and a new state, broke new frontiers in various fields and of course its share of controversies.
Can we make high speed 4G Internet available at 10 cents per GB, and make all voice calls free of cost -- that too in a large and diverse country like India? Can we make high-quality but simple breast cancer screening available to every woman, that too at the extremely affordable cost of $1 per scan? Can we make a portable, high-tech ECG machine which can provide reports immediately and that too at the cost of 8 cents a test? Can we make an eye imaging device that is portable, non-invasive and costs 3 times less that conventional devices? Can we make a robust test for mosquito-borne dengue, which can detect the disease on day 1, and that too at the cost of $2 per test? Amazingly, says Dr R A Mashelkar, the eminent scientist, all this has been achieved in India, not only by using technological innovation but also non-technological innovation.
Biggest contribution came from Bharti group-led Satya Electoral Trust.
'Let me talk about young Indian startups with their hearts in the right place and how they are proving that innovations that represent 'affordable excellence' -- breaking the myth that 'affordability' and 'excellence' cannot go together -- is indeed possible!' says Dr R A Mashelkar, the eminent scientist, in this fascinating feature.
Raamdeo Agrawal says, an investor should figure out if the company actually makes money or not, making an investment comes later.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
The entire selection process of the IOC chairman was shrouded in mediocrity and mystery.
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