ECONOMY & NATION


Moneylife Digital Team 05 June 2013
Given the competitive landscape and supply constraints faced by Perrigo and West Ward, Nomura believes the generic Depo Testosterone would be an interesting opportunity for Sun Pharma Sun Pharma on Tuesday announced that it had obtained final approval for generic Depo Testosterone ($130...

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Moneylife Digital Team 05 June 2013
Assuming the historical run rate over the past few years, Nomura expects the restructured loan delinquency for large PSU banks like PNB, BoB and SBI to go up 130% to 360% Worried over rising non-performing assets (NPAs), the Reserve Bank of India on 30 May 2013 tightened rules for...

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Moneylife Digital Team 05 June 2013
The Real Estate (Regulation and Development) Bill seeks to make it mandatory for developers to launch projects only after acquiring all statutory clearances from relevant authorities A Bill providing for setting up a regulator for the real estate sector and having provisions like a jail...

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Moneylife Digital Team 04 June 2013
The information sought by Lokeshwar Dev included copies of complaints against him, and also other details including SEBI’s opinion and clarifications on matters concerning the case In an unusual use of the Right to Information (RTI) route, the main accused of over Rs 1,500-crore...

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Moneylife Digital Team 04 June 2013
According to stock brokerages, while the return of Narayana Murthy is positive for Infosys in terms of leadership, he will have to take care of the company's communication strategy, succession plan, cash management and cost control The second inning of Infosys founder NR Narayana Murthy...

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Moneylife Digital Team 04 June 2013
“Any import of gold on consignment basis by both nominated agencies and banks shall now be permissible only to meet the needs of exporters of gold jewellery,” the RBI said, adding the restrictions are applicable with immediate effect The Reserve Bank of India (RBI) today extended the...

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Moneylife Digital Team 04 June 2013
SBI and Central Bank of India returned a DD saying that it is a "cancelled instrument". What these banks forgot is that the DD cannot be cancelled without the original instrument, which was in their possession at the time of clearing Strange as it may sound, but two state-run lenders,...

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Moneylife Digital Team 04 June 2013
Credit growth for the banking sector as on 17 May 2013 stands at 14.7% y-o-y and deposit growth stands at 13.5% y-o-y, says Nomura Equity Research in its Quick Note • As of April 2013, aggregate non-food credit growth was 13.8% y-o-y with primary contributions from industry ex...

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Moneylife Digital Team 04 June 2013
Strong growth in tractor volumes are driven by improved customer sentiment on expectations of a good monsoon this year and improved Rabi crop realizations, says Nomura Equity Research in its Quick Note on the automobile industry Most of the auto companies have reported May 2013 sales...

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Moneylife Digital Team 04 June 2013
The PMI data suggests domestic demand will likely remain weak and that inflationary pressures will remain contained, which should open up space for rate cuts, says Nomura in its “Asia Insights” report India’s manufacturing PMI fell to 50.1 in May from 51 in April, due to a sharp fall in...

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Moneylife Digital Team 04 June 2013
Department of Economic Affairs secretary Arvind Mayaram too hinted that the government could take more steps to reduce gold imports, which may include banning sale of the yellow metal by banks With a staggering gold imports at $15 billion in the last two months, the government Monday...

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Moneylife Digital Team 04 June 2013
The questioning of Bansal will revolve around his role in the appointment of suspended Railway Board member (staff) Mahesh Kumar involving his nephew Vijay Singla who was allegedly caught accepting a bribe of Rs90 lakh The Central Bureau of Investigation (CBI) has summoned former Railway...

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In a major victory to democracy, the Central Information Commission on 3rd June has ordered all political parties not only to designate PIOs and AAs within six weeks but also to abide by voluntary disclosures under Section 4 of the RTI Act It took Right to Information (RTI) activists...

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Moneylife Digital Team 03 June 2013
Applicants have to submit their applications by 1st July for evaluation to get a new bank licence, the RBI said, even as it extended the validity of in-principle licence nod from 12 months to 18 months Making it tougher for aspirants, the Reserve Bank of India (RBI) today said it will...

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Moneylife Digital Team 03 June 2013
Cadila Healthcare’s 4Q was ahead of estimates by 10% at the operating level, driven by higher royalty income in the quarter. Though there is limited clarity on FY14 US launches, Nomura believes FY15 launches are likely to be significant enough to drive margins CDH’s (Cadila Healthcare)...

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Moneylife Digital Team 03 June 2013
With domestic volume declines likely to continue in the near term and not much new incremental LNG re-gas capacity available in Gujarat, volume growth outlook looks muted in the near term, said Nomura in report on GSPL’s Q4 performance GSPL’s (Gujarat State Petronet) reported PAT of...

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Moneylife Digital Team 03 June 2013
Unless private investments are of good quality, they can become regressive and lead to crony capitalism, as it has happened all along in the PPP model, says EAS Sarma EAS Sarma, former secretary of the Government of India, has said that public–private partnership (PPPs) are certainly not...

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Moneylife Digital Team 03 June 2013
Amidst growing uncertainty over consumer demand and economic signals, the banking sector continues to grow. While the credit offtake did not grow as expected, earnings too disappointed during the March quarter, says Kotak The banking sector continues to grow, amidst growing uncertainty...

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Moneylife Digital Team 03 June 2013
“The prospect of a good monsoon would also add buoyancy to the farmers’ morale and lead to a stronger growth for the overall agricultural sector,” M&M Chief Executive, Tractor and Farm Mechanisation, Rajesh Jejurikar said Mahindra & Mahindra’s (M&M) tractor sales rose 24.24% to 23,626...

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Moneylife Digital Team 03 June 2013
The National Consumer Disputes Redressal Commission ordered the real estate major to reimburse nearly Rs14 lakh spent by a customer on rent after the flat for which he paid over Rs1.37 crore in 2007 was not handed over to him till date Realty major Unitech has been directed by the apex...

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