NSE - WEEKLY NEWS LETTERS
TOP NEWS OF THE WEEK

India did well despite global economic turmoil: FM - : Finance Minister Arun Jaitley dismissed grumblings about the economy not having taken off as "cynicism -- a way of life in India", according to reports. Looking back at 2015, Jaitley said that India has been the bright spot with growth prospects of 7-7.5 per cent despite global slowdown. India has responded well to the challenge posed by the slowdown in global economy, Jaitley added. "As the year ends, I look back with a sense of great satisfaction," Jaitley reportedly said.

Petroleum products to be out of GST for now: Arvind Subramanian - : Chief Economic Advisor Arvind Subramanian reportedly said that Petrol and other petroleum products would not be brought under the GST regime for some time after its roll out. "Constitutionally petrol and other petroleum products will be within the GST system. But it would be out of the GST dispensation after its implementation for some time", Subramanian was quoted as saying. Arvind Subramanian added that GST council would decide for how long these products would be out of the new taxation regime, says report.

World Bank may revise India’s growth forecast: Kaushik Basu - : World Bank chief economist Kaushik Basu reportedly said that the bank may revise its GDP growth projection for India, “There could be some changes in the January review of India’s growth forecast,” Basu added. Kaushik Basu reported that decision-making and reforms can have an impact in terms of growth rate. Until October, the World Bank retained India’s growth forecast at 7.5 per cent for 2015-16. Basu added that the general mood had been positive, which helped the investment climate.

Bad year for Bank Sotocks ! 35 banks stocks offered Negative return in 2015 - : Despite the multiple rate cuts by the Reserve Bank of India during the year, bank stocks brunt on the Dalal street. Bad loans, stressed assets quality, poor credit growth and depriciating rupee added to banks woes in 2015. Both the public sector and private sector lenders saw their stock prices falling. Out of 24 PSB Banks Only one PSB bank reported the gain in CY 2015. On the other hand, among the 16 private banks only 4 banks stocks rose.

DLF Promoters to sell 40% stake in Cyber City - : DLF Ltd. reportedly said that its promoters will sell 40% stake In Cyber City to Private Unlisted Investors. The company stated that DT Cinemas deal is pending for CCI Nod. The company concluded GIC Stake sale last week. DLF Ltd is currently trading at Rs. 115.2, up by Rs. 0.2 or 0.17% from its previous closing of Rs. 115 on the BSE. The current market cap of the company is Rs. 20505.95 crore. The promoters holding in the company stood at 74.86 % while Institutions and Non-Institutions held 19.84 % and 5.3 % respectively. The stock is currently trading above its 200 DMA.

Government in process of granting transmission connectivity to 20 power plants - : The government is in the process of granting electricity transmission connectivity to 20 power plants with a generation capacity of 11,000 MW, For easing coal and gas availability, revival of state distribution companies, expediting project clearances and a push to renewable energy. About 20 applications for a quantum of about 11,000 MW for transmission connectivity are under process and are likely to be granted soon. The quantum of applications granted during 2013 and 2014 were only of the order of 1,300 MW and 1,450 MW respectively. However, during the current year, connectivity for 5,500 MW has already been granted," a government official said

The DIIs outpaced FIIs on D-Street in 2015 - : The biggest story about the domestic equity market from calendar 2015 is the waning clout of foreign portfolio investors and increased muscle power of domestic institutional investors.This year, when FPI investment in domestic equities fell to a little over Rs 16,000 crore, from a three-year annual average of $15 billion, the DIIs played the real market driver, pumping in well over Rs 60,000 crore. DIIs continued even when the domestic equity market turned lacklustre, and filled in the gap created by the FPI exit. According to some estimates, domestic Institutional investors has pumped something 66,000 Crore in the market in FY15.

DLF receives Rs.1992 Cr from GIC for two projects in Delhi - : Realty major DLF said, DLF Urban Pvt Ltd and DLF Midtown Pvt Ltd ceased to be its subsidiaries following the Rs 1,992-crore investment by Singapore's sovereign wealth fund GIC in the two up coming projects in the national capital.

Rising FDI in 2016 can push India to 9% plus growth path - : Even before US Fed hiked the key rates, there was a rush to exit Indian markets by some FII, which resulted in a sharp outflow of hot money from India in Sep-Dec quarter of 2015. But same is not the case with long term money in form of Foreign Direct Investment. Infact, India has seen maximum FDI in the world in last one and a half year. When compared to the world figures of a fall of 16%, FDI in India has grown by 35%. Most of these investments are coming in sectors like manufacturing, consumer goods, logistics, food processing, etc.

GST not the only reform measure to shore up growth: Govt - : Looking at the efforts put in sectors like roads, power, banking and agriculture, the Union Budget 2016-17 would comprise of the highlights of work done in such sectors that would buoy economic growth, instead of falling back only on the Goods and Services Tax , which did not meet with approval this year in the Parliament, as per government officials. The forthcoming Budget is likely to underscore government’s achievements with respect to reforms such as discom restructuring scheme, bank recapitalisation and the related Indradhanush scheme, improvements in road construction and fiscal consolidation, as per the reports.

Global economy, private investment will continue to pose challenges: Arun Jaitley - :Finance Minister Arun Jaitley reportedly said that Subdued global economy and moderate private sector investment will continue to pose challenge in the next year, The Finance Ministry in its mid-year economic analysis lowered the GDP growth forecast to 7-7.5 per cent from 8.1-8.5 per cent. Jaitley reported that the global growth can be an engine which unfortunately are not doing well.

Global growth will be disappointing in 2016: IMF - Global economic growth will be "disappointing" next year, the head of the IMF Christine Lagarde said. She said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty. The growth in global trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, Lagarde stated. "All of that means global growth will be disappointing and in 2016," Lagarde said. The US Fed hiked interest rates for the first time in nearly a decade earlier this month.










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