NSE - WEEKLY NEWS LETTERS
TOP NEWS OF THE WEEK

Reform process to continue: Arun Jaitley - Finance Minister Arun Jaitley reportedly said the government would continue with the reforms, with “single-minded focus” to increase investment and growth. “If India is to grow, it is obvious that our public and added private investments have to grow, Jaitley was quoted as saying. “We cannot afford a change in direction, and in this circumstances every state has to contribute,” the minister said. Jaitley called upon the states to improve ease of doing business with a view to attract investors, says report.

Govt may impose duty on crude imports, tweak domestic cess - The Government is considering imposing import duty on crude oil while at the same time tweaking the cess on domestic oil, according to report. Alteration in the cess on domestic oil has been a long-standing industry demand. Similar demand was raised ahead of the Union Budget 2015-16. According to the industry, the cess today stands at more than 20 per cent of crude oil price. The possibility of an import duty levy in Budget 2016-17 can not be ruled out, an official has been quoted as saying.

Non-passage of GST Bill a blow to Indian economy: Jayant Sinha - The non-passage of GST bill will be a blow to the Indian democracy, economy and the overall development process, Union Minister of State for Finance Jayant Sinha reportedly said.
“We are very desirous to get the GST bill and we are doing everything and making all efforts for this,” Sinha was quoted as saying.
Sinha said the BJP-led NDA government has been making all efforts to ensure passage of the GST bill. Sinha reported that though almost all political parties were in favour of the measure, all efforts went in vain due to Congress’ resistance.
Power prices may come down further says Piyush Goyal - Demand for electricity hasn't increased as expected, resulting in a surplus and prices falling so much that state distribution companies find it cheaper to buy power from the spot market than from generators with which they have long-term contracts.



Persistent volatility in China’s market illustrates scale of reform challenge: Moody's Investor Service - According to Moody's Investor Service, China’s equity and currency markets remain very volatile even after the authorities attempted to stem price movements. Coming soon after the country’s stock market turmoil in mid-2015, this second episode suggests that China’s authorities are finding it increasingly difficult to reconcile the tensions inherent in designing and implementing credible and effective reform measures while maintaining economic, financial and social stability, says Moody's Investor Service.

RBI releases monthly bulletin for January 2016 - The RBI released Jan, 2016 issue of its monthly Bulletin. The Bulletin includes Speeches by the Top Management and Current Statistics. This issue also includes three articles on: (1) Census on Foreign Liabilities and Assets of Indian Direct investment Companies: 2014-15; (2) Survey on International Trade in Banking Services: 2014-15; and (3) Survey on Computer Software & Information Technology Enabled Services Exports: 2014-15. The Report on Trend and Progress of Banking in India 2014-15 and Financial Stability Report – December 2015 are being issued with the Bulletin as a Supplement.

RBI increases provisions for ‘yet to fail’ CDR accounts - Reserve Bank of India has asked lenders to increase provisioning for accounts that may not have yet failed corporate debt restructuring , according to reports. Report says that the loan recasts of several firms failed this year with the involved amount for the first eight months of FY16 estimated at Rs. 22,303 crore. Earlier, RBI governor Raghuram Rajan stated that he would like to see banks clean up their books by March 2017.

Why Q3 FYI6 may be yet another disappointing quarter? - December Quarter FY16 is expected to be another disappointing quarter for corporate India and raises concerns regarding a much delayed economic recovery. The net profit for our coverage universe is likely to fall by 2.3% Y-o-Y rise 3% qoq. While revenue is expected to grow by 4.2% and 4% on yoy and qoq basis respectively, EBIDTA margins look to be marginally lower by 20 bps at 17.9% although they rose sequentially by 40bps. Our preview analysis is for 341 companies from our coverage universe of 500. These 341 stocks comprise ~70% of total




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