Companies & Sectors
Gas prices: Status quo to continue for three more months

The Modi government has decided to prolong the status quo on gas prices for three more months

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday decided to prolong the status quo on gas prices for three more months. The CCEA met today to discuss the controversial gas price hike which would affect the output from Reliance Industries Ltd (RIL)'s KG-D6 fields.


Oil Minister Dharamendra Pradhan, who is not a part of the committee but was present in the meeting as a special invitee briefed the media on the results of the meeting. He said, a wider discussion was needed on the issue of gas prices, including discussions with all stakeholders.


The new government must be given time to consider this issue of the price hike, he added.


Initial reports suggested a tweaking of the Rangarajan formula for setting the gas prices and a phased increase in the prices going forward.


Reliance Industries Ltd, and its partners BP Plc and Niko Resources have already initiated arbitration proceedings against the Indian government on for alleged violation of the Production Sharing Contract (PSC).


According to the joint statement issued by the three companies, the non-implementation of the guidelines, is delaying their ability to appraise and develop other significant discoveries made last year.


"The continuing delay on part of the Government of India in notifying the price in accordance with the approved formula for the Gas to be sold has left the Parties with no other option but to pursue this course of action. Without this clarity, the Parties are unable to sanction planned investments of close to $4 billion this year," the companies said in a joint release.


Sensex, Nifty may give up some gains – Wednesday closing report

A short downmove in Nifty may be in the offing

Ahead of the April futures and option expiry, the S&P BSE Sensex and NSE Nifty moved in a narrow range. The effort to stay in positive could be sustained only till 10.30 in the morning after which the benchmarks were pulled lower.

The 30-share Sensex opened higher at 25,421 and moved higher up to 25,428 while the 50-share Nifty managed to open a few points higher at 7,589 and hit a high almost at the same level. The indices were pulled lower to the level of 25,274 and 7,557. Sensex closed at 25,314 (down 55 points or 0.22%) while Nifty closed at 7,569 (down 11 points or 0.14%). The NSE recorded a volume of 98.21 crore shares. India VIX fell 4.56% to close at 18.3125.

Among the  other indices on the NSE, the top five gainers were CPSE (1.15%), Realty (0.99%), Auto (0.96%), Consumption (0.85%) and MNC (0.71%) while the top five losers were Bank Nifty (0.47%), Energy (0.41%), Infra (0.37%), Finance (0.26%) and FMCG (0.25%).

Of the 50 stocks on the Nifty, 24 ended in the green. The top five gainers were Bajaj Auto (2.78%), Maruti (2.05%), Lupin (1.76%), Hindustan Unilever (1.63%) and Hero MotoCorp (1.63%). The top five losers were ITC (1.53%), IDFC (1.50%), ICICI Bank (1.47%), ONGC (1.41%) and DLF (1.41%).

Of the 1,584 companies on the NSE, 819 companies closed in the green, 704 companies closed in the red while 61 companies closed flat.

Market now looks ahead for the budget session which is to begin from 7 July 2014.
Reserve Bank of India on Tuesday allowed banks to engage non-deposit-taking non-banking finance companies as banking correspondents for financial inclusion.
Maruti Suzuki (2.56%), among the top two gainers in the Sensex 30 pack, plans to launch 6 new cars in the next few months, of which four will be priced in the Rs 6-14 lakh range.

After being the top loser in the Sensex 30 stock on Monday, today again ITC came in among the top two losers (1.36%). On Monday it was reported that Union health minister Harsh Vardhan has suggested increase in excise duty on cigarettes in upcoming final Union Budget for 2014-15 to deter people from smoking.

Engineers India (6.90%), top gainer in ‘A’ group on the BSE, has been given a Navratna status.

Idea Cellular (2.52%), among the top three loser in the ‘A’ group on the BSE, introduced 'No Bill Shock Combo Plan' for its postpaid subscribers across four service areas, allowing users to cap usage-linked expenses. In this plan data speed will be automatically downgraded once the predefined usage is exhausted.

US indices closed Tuesday in the negative. Data showed purchases of new homes in the US rose in May by the most in 22 years, indicating the industry is rebounding from a winter-induced lull at the start of the year. The Conference Board's index of US consumer confidence increased to 85.2 in June from 82.2 a month earlier, the New York-based private research group said yesterday.

All the Asian indices closed in the negative. Nikkei 225 (0.71%) was the top loser.
European indices were trading in the red while US Futures were trading flat.


Research analysts must have professional degree, NISM certificate

Research analysts must have a professional qualification, a post-graduate degree or a post-graduate diploma in finance, accountancy, capital market, financial services or markets besides certification from NISM, says SEBI

As per the new norms issued by market regulator Securities and Exchange Board of India (SEBI) research analysts would be required to have a professional degree as also an National Institute of Securities Markets (NISM) or equivalent certification to ensure that investors get the right financial advice.


The NISM has been established by the SEBI to conduct academic programmes and certification examinations for financial education.


The new regulations would require that any individual seeking registration as a ‘Research Analyst, or those engaged in preparation or publication of research analysis and reports have certain minimum qualifications.


These would include a professional qualification, a post-graduate degree or a post-graduate diploma in finance, accountancy, business management, commerce, economics, capital market, financial services or markets.


Such a degree would need to be from a university recognised by the University Grants Commission (UGC) or by an equivalent establishment.


Otherwise, the research analyst can have a professional degree or post-graduate diploma from an institution accredited by All Indian Council for Technical Education, National Assessment and Accreditation Council or National Board of Accreditation, or any other equivalent body.


Those having a graduate degree would need experience of at least five years in activities relating to financial products, markets, securities, funds, asset or portfolio management.


In addition to the professional degree, the research analyst would also need to have, at all times, a NISM Certification Examination for research analysts as specified by SEBI, or any other certification recognised by the regulator board from time to time.


In case of research analysts or research entities already engaged in issuance of research reports, the new regulations require that such individuals obtain a certification within two years from the date of commencement of these regulations.


The new norms have been approved by the SEBI board and are in the process of being notified.


SEBI last week cleared detailed norms for ‘research analysts’ to safeguard investors from any manipulation by such entities and to bring in greater transparency in their activities.


“In India, research analysts were not being regulated. Now we have provided that all people doing research reports will be regulated, there will be a requirement, registration with SEBI and post-registration they will have certain disclosure requirements,” SEBI Chairman UK Sinha had said after a SEBI board meeting on 19th June.




2 years ago

Moat doesn't get any bigger. . . NISM ought to be listed soon.

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