Citizens' Issues
Government lifts ban on bulk SMSes, MMSes

The restriction on sending more than five SMSes in one go and more than 20 KB of data through mobile phones came into force on 17th August


New Delhi: The government on Thursday withdrew the ban on bulk SMSes and MMSes which was imposed to check spread of rumours related to the violence in Assam that led to exodus of people hailing from the north-eastern states from Bangalore, Chennai, Mumbai and Pune, reports PTI.

The decision was taken after the social unrest that gripped various parts of the country due to the rumours generated through SMSes, MMSes and web contents reduced in last few days, a Home Ministry spokesperson said.

The restriction on sending more than five SMSes in one go and more than 20 KB of data through mobile phones came into force on 17th August. On 23rd August, the government increased the number of SMSes to 20 per day.

The restriction was put in place after reports of widespread circulation of SMSes and MMSes containing misleading information about the Assam violence, threats to people of north-eastern origin living in other parts of the country and doctored videos.

Prime Minister Manmohan Singh too had said that spread of rumours by miscreants had led to people hailing to the northeast flee from Bangalore, Pune and other parts of the country.


Underlying demand in the Indian automobile sector remains weak, says Nomura

Growth in the car segment will be impacted by the Manesar lockout at Maruti while sales in the two-wheeler segment is likely to remain weak, says Nomura

Nomura Equity Research believes that underlying demand still remains weak across all segments in the auto sector, except UVs (utility vehicles), where demand is quite robust driven by new launches and customer preference towards diesel vehicles. Nomura expects that there will be around 20% growth in M&M’s (Mahindra & Mahindra) auto segment volumes driven by about 37% growth in UV volumes. 
Volumes in the MHCV (medium and heavy commercial vehicles) segment are expected to decline by around 10%-12%, with a 6% decline in the cars segment and around 7% growth in the 2-wheelers segment. Further, Nomura expects that M&M’s tractor volumes will decline by around 6% y-o-y (year-on-year) in August 2012. 
Growth in car segment to be impacted by Manesar lockout
Nomura expects that the car industry volumes will decline by around 6% y-o-y (year-on-year) in August 2012, largely due to the lockout at Manesar, which is likely to impact volumes by around 30,000 units. Retail demand continues to remain weak. Most companies are offering discounts on diesel models, as well. According to Maruti Suzuki India’s (MSIL) management, retail volumes for the company are likely to be flattish in August 2012. It is expected that there will be a 19% y-o-y decline in domestic volumes for MSIL. Nomura expects around 57% growth in car volumes at Tata Motors, largely due to higher Nano sales.
Two-wheeler segment remains weak
Nomura expects around 7% growth in the two-wheeler industry volumes in August 2012 driven by strong growth at Honda Motorcycles (about 50% growth) driven by capacity addition and new launches. For listed companies; it is expected that domestic volumes will increase by about 2% y-o-y for Hero MotoCorp, volumes will decline by 5% for Bajaj Auto and about 15% decline in volumes for TVS. For Hero MotoCorp, there could be downside risk in volume estimates if the company lowers dispatches in order to reduce inventory levels, says Nomura. 


Fall in Sensex, Nifty arrested: Thursday Closing Report

Fresh cues from the US may decide market direction. Meanwhile, a short rally may be on the cards

The market closed in the positive as buying in realty, healthcare and tech stocks in the last hour enabled the benchmarks pare their losses, snapping their four-day losing streak. Yesterday we had mentioned that a small correction may be round the corner. Today the Nifty made a sharp recovery in the last hour to close in the positive. If the index manages to close in the positive on Friday it may bring some relief on the bourses, else we may see the benchmark moving sideways. The NSE saw a huge volume of 82.93 crore shares on the F&O expiry day while the advance decline ratio was 818:843.
The market witnessed a gap down opening tracking weak cues from its Asian peers, which were down in morning trade as investors were edgy ahead of the central bankers’ meet in Jackson Hole, Wyoming over the weekend. However, US stocks closed marginally higher overnight as US GDP growth for the second quarter at 1.7% was in line with analysts’ expectations.
In India, the Nifty opened with a cut of 19 points at 5,269 and the Sensex started the day at 17,434, down 57 points from its previous close. Offloading of metal, realty and auto stocks pushed the market further southwards in early trade.
Volatility that is usually seen on the derivatives expiry day was evident since the beginning of trade today. The indices touched their intraday lows in the first hour of trade itself. At this point the Nifty fell to 5,255 and the Sensex went back to 17,368. However select buying lifted the benchmarks from the lows in subsequent trade.
The indices were range-bound in the absence of any domestic triggers and lack of political action as Parliament was adjourned for the seventh day on the CAG report on coal block allocation. A negative opening of the key European indices made maters worse in the noon session.
However, select buying in the last hour saw the indices paring their losses and emerging into the green. The market hit its intraday high towards the end of the session on support from realty, healthcare and technology sectors. At the highs, the Nifty rose to 5,343 and the Sensex climbed to 17,606.
The market closed marginally off the highs, snapping its four-day losing streak. The Nifty gained 27 points (0.52%) to 5,315 and the Sensex settled at 17,542, up 51 points (0.29%) over its previous close.
Among the broader markets, the BSE Mid-cap index climbed 0.57% and the BSE Small-cap index rose 0.27%.
The sectoral space saw a reversal from the trend seen in the morning trade as only three of the 13 gauges were in the red. The top gainers were BSE Realty (up 1.83%); BSE Healthcare (up 0.74%); BSE IT (up 0.70%); BSE TECk (up 0.61%) and BSE Bankex (up 0.55%). BSE Metal (down 0.41%); BSE Oil & Gas (down 0.23%) and BSE Auto (down 0.04%) were the losers.
Hindalco Industries (up 2.27%); TCS (up 1.68%); Cipla (up 1.57%); Tata Motors (up 1.26%) and Wipro (up 1.23%) were the top gainers on the Sensex. The key losers were GAIL India (down 2.32%); Maruti Suzuki (down 2.13%); Tata Steel (down 2.06%); Jindal Steel (down 2.03%) and Sterlite Industries (down 1.46%).
The top two A Group gainers on the BSE were—JSW Energy (up 5.80%) and Adani Ports & Special Economic Zone (up 4.91%).
The top two A Group losers on the BSE were—Tech Mahindra (down 5.20%) and Jaiprakash Power Ventures (down 4.18%).
The top two B Group gainers on the BSE were—DMC Education (up 19.98%) and ATN International (up 19.30%).
The top two B Group losers on the BSE were—MTNL (down 12.63%) and Ram Kaashyap Investment (down 12.22%).
The top gainers on the Nifty were DLF (up 4.01%); IDFC (up 2.89%); Hindalco Ind (up 2.84%); Jaiprakash Associates (up 2.34%) and Hindustan Unilever (up 2.19%). The major losers were Tata Steel (down 2.28%); GAIL (down 2.25%); Jindal Steel (down 2.11%); BPCL (down 1.60%) and Reliance Infrastructure (down 1.27%).
Markets across Asia settled lower as investors grew wary about any fresh initiative coming from the US Federal Reserve and sluggish economic data from within the region. Japanese retail sales declined 0.8% in July from a year earlier, the first fall in eight months while business confidence among the South Korean manufacturers stood near the lowest level since the global financial crisis.
The Shanghai Composite lost 0.03%; the Hang Seng dropped 1.19%; the Jakarta Composite tanked 1.65%; the Nikkei 225 declined 0.95%; the Straits Times fell 0.98%; the Seoul Composite shrank 1.15% and the Taiwan Weighted was down 0.27%. Bucking the trend, the KLSE Composite added 0.03%.
At the time of writing, the CAC 40 of France was 0.51% lower, DAC of Germany declined 0.91% and UK’s FTSE 100 was trading 0.27% down. At the same time, US stock futures were in the red, ahead of Fed chief Ben Bernanke’s speech at the central bankers’ annual gathering.
Back home, foreign institutional investors were net buyers of shares aggregating Rs143.29 crore on Wednesday while domestic institutional investors were net sellers of stocks totalling Rs239.81 crore. 
Indian fertilisers major Deepak Fertilisers & Petrochemicals Corporation has abandoned plan to build a $350 million plant at Port Bonython, South Australia, due to several reasons. Barriers to the proposed investment include the substantial costs involved in rehabilitating a former military testing ground, extending power and gas supplies to the site, the distance from the Port Bonython jetty and other additional capital expenditure required to prepare the site for construction. The stock declined 1.01% to Rs127 on the NSE.
Elgi Equipments today said that it has acquired 100% stake in Rotair Spa, which is engaged in design, manufacture and distribution of ranger of compressors and allied products for the construction and industrial sectors. The acquisition is through its subsidiary Elgi Compressors Italy. The company did not disclose the value of acquisition. The stock rose 0.39% to close at Rs77.85.
The government today said state-run BHEL has proposed setting up another manufacturing unit at Sakoli in Maharashtra. “The manufacturing plant is proposed for meeting the requirements of fabricated assemblies of boilers, turbines, etc, for power plants,” minister of heavy industries and public enterprises Praful Patel informed Lok Sabha today. The stock gained 0.62% to settle at Rs218 on the NSE.



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