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The Week That Was

India Infoline News Service | Mumbai |

The year has begun on a weak note as the Indian equity market ended the first week of January with losses on back of disappointing data on the macro economic front.

Top Stories

Cycle of global economic growth is turning for the better: PM

PM Manmohan Singh has addressed the media for the first time in last 3 years. Let me say at the outset that I do believe we are set for better times. The cycle of global economic growth is turning for the better. Many of the steps we have taken to address our domestic constraints are coming into play. India’s own growth momentum will revive. An important development in the year that has gone by is the demonstration of the strength of our democracy. Our people have demonstrated their faith in the institutions of democracy by voting in record numbers in the recent assembly elections. Our party did not do well in these elections, but we welcome the extent of participation, and we will reflect on what the results tell us for the future and learn appropriate lessons. Our democratic Constitution and the institutions of our democracy are the cornerstone of Modern India. All of us who wish to build a better India, rid of poverty and corruption, must respect these institutions and work through them. They are the legitimate instruments in our hands, with all their limitations. No one individual or authority can substitute for the due processes of democratic governance. Over the past decade we have been through many ups and downs. During my first term in office, India witnessed for the first time in its recorded history a short acceleration of the rate of economic growth to 9.0 per cent. This exceptional performance was followed by a slowdown initiated by the global financial crisis. Over the past couple of years, all Emerging Economies have experienced a slowdown. India was no exception...Read More

India set for better times, says PM

PM Manmohan Singh rules out third term...says Modi as PM will be disastrous

PM’s revival plan salvages projects worth Rs. 4 trillion

FICCI comments on Prime Minister's speech


HSBC India manufacturing PMI drops in December

HSBC's India manufacturing PMI fell in December, but remained in expansionary territory. The slowdown was led by a deceleration in domestic orders. Despite the weaker growth print, backlogs of work rose at a faster pace and supplier delivery times lengthened. On the positive side, inflation continued to ease. If softer inflation pressures are also reflected in the CPI and WPI inflation numbers released in January, the RBI may feel tempted to remain on hold again. Even so, inflation will remain a concern and require hawkish inclinations. HSBC's India manufacturing PMI (50.7 vs. 51.3 in November) declined slightly after rising in November. Output (51.3 vs. 51.5 in November) and new orders (51.3 vs. 51.9 in November) slowed during the month. The weakness in orders was driven by softer domestic demand given that new export orders (51.6 vs. 50.6 in November) improved. In line with the weaker order flows, quantity of purchases (50.2 vs. 51.9 in November) slowed and stocks of purchases (48.2 vs. 51.7 in November) were reduced. Stocks of finished goods (50.2 vs. 50.2 in November) remained broadly steady...Read More

Eight core industries growth at 1.7% in November

The Eight Core Industries have a combined weight of 37.90 % in the Index of Industrial Production (IIP). The combined Index of Eight Core Industries stands at 153.5 in November, 2013, which was 1.7 % higher compared to the index of November, 2012.

Coal

Coal production (weight: 4.38 %) grew by 2.3 % in November, 2013 over November, 2012. Its cumulative index during April to November, 2013-14 increased by 1.5 % over corresponding period of previous year.

Crude Oil

Crude Oil production (weight: 5.22 %) increased by 1.1 % in November, 2013 over November, 2012. The cumulative index of Crude Oil during April to November, 2013-14 moderated by 0.9 % over the corresponding period of previous year.

Natural Gas

The Natural Gas production (weight: 1.71 %) declined by 11.3 % in November, 2013 over November, 2012. Its cumulative index during April to November, 2013-14 declined by 15.6 % over the corresponding period of previous year.

Petroleum Refinery Products (0.93 % of Crude Throughput)

Petroleum refinery production (weight: 5.94 %) moderated by 5.0 % in November, 2013 over November, 2012. Its cumulative index during April to November, 2013-14 increased by 2.6 % over the corresponding period of previous year...Read More

PM’s revival plan salvages projects worth Rs. 4 trillion

Govt approves ten water supply projects


Govt to increase limit of subsidised LPG cylinders from 9 to 12

The government is planning to relax the limit on subsidised cooking gas for homes, according to reports. Report said that Households may be entitled to 12 gas cylinders per year at subsidised prices, up from nine now, if the government allows itself to be persuaded by Congress leaders, including chief ministers. There are some discussions about re-looking at the current annual cap on the supply of subsidised LPG cylinders, report Govt offificial.

Political parties demand rollback of LPG price hike


Weekly: Sensex, Nifty falls 1.5% each

The year has begun on a weak note as the Indian equity market ended the first week of January with losses on back of disappointing data on the macro economic front. RBI’s Financial Stability Report, which pointed out increase in risk in banks, disappointing fiscal deficit numbers and a decline in December manufacturing PMI dragged the benchmark Indices lower. On Thursday, some basket-selling is reported to have taken place which resulted in a sharp fall in the benchmark indices. The RBI also warned that any political instability after May 2014, post-results, will drag the beleaguered economy further down, and that a stable new government would be desirable. India's manufacturing sector ended the year 2013 on a bit of pessimistic note as growth fell in December against the previous month according to HSBC purchasing managers' index (PMI). The PMI was down at 50.7 in December from 51.3 in the previous month...Read More 

News Infocus

TOP 10 valuation fallacies of 2013

Markets can stay irrational longer than investors can stay solvent, said Keynes and it is as true today as it was when it was said. There are aberrations that leave the most astute investors stunned. We have sieved 10 such stocks that have risen or fallen contrary to market expectations, defying logic.

1. Jubilant Foodworks: Here is a case of "analyst proposes market disposes"! Jubilant is holding on to it fort despite a 40% earnings downgrade this year and notwithstanding expensive valuations (37x 1-yr fwd earnings was sustained thro the year) that implied expectations were sky high. Surprisingly, the stock fell only 1% YTD. FY15 EPS estimates, which were Rs44 in Jan 2013, were cut to Rs32 by Nov 2013. Furthermore, estimates for same store sales (SSS) growth for FY15, which were at 22% YoY in Sept 2012, were cut to 12% now...Read More

TOP 10 valuation fallacies of 2013


New Year's Resolution: Five tips to cut your insurance costs

Trimming ongoing expenses is a popular New Year's resolution for many people. While there are smart ways to save on homeowners and auto insurance, making the wrong choices can result in being dangerously underinsured, according to the Insurance Information Institute.

Following are five insurance mistakes that consumers should avoid, along with practical suggestions for ways to save money:

1. Insuring a home for its real estate value not rebuilding cost. The amount for which you can buy or sell a home can fluctuate for many reasons. But insurance is designed to cover the cost of rebuilding your home, not the sale price. Make sure you have enough coverage to completely rebuild your home and replace all your belongings in the event of a disaster...Read More


2013: Snippets of the year that was

India and USA inaugurated the first Triangular India-USA-Africa Partnership in Agricultural Training at the National Institute of Agricultural Extension Management (MANAGE), Hyderabad, on 6 January 2013 for 30 trainees from three African countries – Kenya, Liberia and Malawi; to strengthen agricultural productivity, value chains and support market institutions. India offered an assistance of $2.5 million to Syria on 30 January 2013 at the High-level International Humanitarian Pledging Conference held in Kuwait. Syria continues to face acute crisis as the impasse has become explosive, which could engulf the region. India and Australia on 28 January 2013 agreed to concentrate on priority areas of energy and food security for mutual benefit of the two countries. At the India - Australia Joint Ministerial Commission held in New Delhi, both stressed on the importance of a robust framework to facilitate growth in bilateral trade and investment. Aircel on 28 January 2013 launched One Nation, One Rate which offers users one rate for voice, SMS and data in home circles and on roaming. The product offers voice (Local or National) calling at 1 paisa/second in home circle as well as on roaming on Aircel network, while incoming calls on roaming are free...Read More

Mercedes-Benz India: Overview 2013

2013 has been Mercedes-Benz India's ‘Year of Offensive’. This year we focused on a strong, profitable and sustained growth that would strengthen the robust foundation that the company has built in the Indian market. We sharpened our focus on the four pillars of Products, Network, Cost of Ownership and Brand experiences. These four pillars are pivotal to our growth and we are happy that we have been able to deliver on our customer promises of providing the best of products and services. We have significantly consolidated our position in the market for a long sustained growth.

Products: The Year of Offensive 2013 kick started with successful launch of eight new products across categories.
G 63 AMG- Combines ultimate off- road capability with a high-performance engine
GL class - Full-size luxury crossover SUV
A-Class – Introduced "Compact Luxury" to India
B-Class- Diesel Variant – Introduced Luxury Touring to India.
E-Class -Changed the Mid-Size Luxury Segment
E 63 AMG -The best combination of a Luxury sedan & Sports car
Edition C-Class – Celebrated 10 million C-Class’s sold globally
SLK 55 AMG- A new chapter to performance driving...Read More


Majority of Indians used mobile phone to send text greeting: Ipsos Study

Majority of Indians (67%) have used their mobile phone to send text greeting to their family and friends on the eve of and around New Year 2014, according to a new poll by global market and opinion research firm Ipsos. Sixty six percent Indians have used a mobile device (mobile phone or tablet) to take photos of gatherings for communication with loved ones, such as family or friends. Another five in ten (53%) have used an online video chat platform (such as Skype or Facetime). The findings reflect a new poll of 18,083 online respondents conducted as part of Ipsos’ Holiday Poll about technology and innovation. In India women are more likely than men to have texted far-away loved ones (68% vs. 66%, respectively) and to have used a mobile device to take photos at gatherings (67% vs. 65%). Older respondents are more likely than their younger counterparts to have used their phones to take photos at gatherings (under 35: 66%, aged 35-49: 65%, aged 50-64: 69%) and to use online video chat (under 35: 52%, aged 35-49: 55%, aged 50-64: 51%). Age does make a meaningful difference in terms of who is most likely to text loved ones who are far away on special occasions or holidays: under 35: 63%, aged 35-49: 70%, aged 50-64: 75%...Read More

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