NSE - WEEKLY NEWS LETTERS
TOP NEWS OF THE WEEK

India manufacturing PMI falls to 49.1 in Dec; lowest in 28 months - Indian manufacturers saw business conditions deteriorate at the end of 2015. Dipping from 50.3 in November to 49.1 in December, the seasonally adjusted Nikkei India Manufacturing Purchasing Managers’ Index – a composite single-figure indicator of manufacturing performance – pointed to a deterioration in operating conditions across the sector, with the PMI posting below the no-change level of 50.0 for the first time since October 2013. December’s incessant rainfall in Chennai impacted heavily on the sector, with falling new work leading companies to scale back output at the sharpest pace since February 2009. On the price front, inflation rates of both input costs and output charges were at seven month highs.

Jaitley hopeful of GST Bill passage in budget session - Union Finance Minister Arun Jaitley stated that the government is hopeful of the passage of the Goods and Services Tax Bill in the Budget session of Parliament, says report. “Halfway through the next session, the numbers in the Upper House will also change,” Jaitley said. The GST is expected to boost economic growth by one to two per cent , Jaitley reportedly said. The Finance Minister added that he would be continuing talks with the States and all the political parties to ensure the passage of the Bill. “We are in the stage of readiness as far as those legislation are concerned which will have to be passed then by the Central government and by the State governments,” Jaitley said.

Rs. 10,000 crore! Excise hike in petrol, diesel could fetch this for govt - The hike in excise duty on petrol and diesel will help the government garner an additional Rs 10,000 crore in the fiscal, according to reports. The government raised excise duty on petrol and diesel three times in last two months. Government increased excise duty on petrol by Rs 0.37 per litre and by Rs 2 a litre on diesel last week. The basic excise duty on unbranded or normal petrol has been hiked from Rs 7.36 per litre to Rs. 7.73 and on unbranded diesel from Rs 5.83 to Rs 7.83 per litre, according to Central Board of Excise and Customs notification.



China Caixin Manufacturing PMI dips to 48.2 - China Caixin Manufacturing PMI for December was lower than expectations at 48.2 as operating conditions faced by Chinese goods producers continued to deteriorate in December. Production declined for the seventh time in the past eight months and data suggested that client demand was weak both at home and abroad, with new export business falling for the first time in three months in December. Manufacturers continued to trim their staff numbers and reduce their purchasing activity in line with lower production requirements. Meanwhile, deflationary pressures persisted, as highlighted by further marked declines in both input costs and selling prices.

India has emerged as the world's fastest growing economy:Arvind Subramanian - Chief Economic Advisor Arvind Subramanian reportedly said that India has emerged as the world's fastest growing economy not with standing global demand slowdown and four droughts. Arvind Subramanian said that there has been improvement in quality of spending toward capital, fiscal consolidation at central and state levels. The commentary on Mid-Year Economic Analysis, presented in Parliament last month, has focused on challenges, Arvind Subramanian said.

Blame it on China! Why India could suffer due to China's woes - Yet another tremor from China is set to shake some of the prominent sectors like Auto, Tyre, Iron ore, Steel in India. The bloodbath in Chinese stock market has affected Indian equity markets also. The Chinese slowdown has dragged S&P BSE Sensex and Nifty down by nearly 2%.

Oil stocks slide on hike in excise duty on petrol & diesel and tension between Saudi Arabia and Iran - Shares of Oil companies ended lower on escalating tensions between Saudi Arabia and Iran International oil prices which were trading as high as 3% in the morning trade ended the day marginally higher. Brent Crude oil ended marginally up 0.40% at US$ 37.43/bbl, while WTI Crude Oil too ended marginally up 0.24% at US$37.79/bbl.

Siti Cable rallies 8%; RBI permits foreign investors to buy up to 49% - SITI Cable Network rallied 8% to Rs.39.75 on BSE. Reserve Bank of India has notified that Foreign Institutional Investors/Registered Foreign Portfolios Investors can now invest up to 49 per cent of the paid up capital of SITI Cable Network Limited under the Portfolio Investment Scheme. The scrip opened at Rs. 39.7 and has touched a high and low of Rs. 41.7 and Rs. 39.45 respectively. So far 3390832(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2493.69 crore.

Public investment to drive efforts to revive economy: Arun Jaitley -: Finance minister Arun Jaitley reportedly said that the increased government spending through more funds in the form of public investment will continue to drive the efforts to revive the economy. “We made an increased allocation towards public investment last year. Public investment will continue to remain stepped up,” FM Jaitley was quoted as saying.

December topline seen up just 2% despite base-effect prop: CRISIL Research -: CRISIL Research, India’s largest independent and integrated research house, expects corporate excluding BFSI and oil & gas companies revenue to grow a measly 2% in the three months ended December 31, 2015, driven by low-base effect growth in the corresponding quarter of last fiscal was just 5% amid crushed commodity prices, weak investment demand, flagging rural consumption. Exclude sectors with topline linked to the commodity cycle steel, petrochemicals and manmade fibres, and revenue growth would improve – but only by 5.4%.



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