NSE - WEEKLY NEWS LETTERS
TOP NEWS OF THE WEEK
Govt cuts market borrowing target for H2 FY16- The Government has cut its market borrowings target for the second half of FY16 by INR 15,000 crore, citing the launch of the Sovereign Gold Bond and Gold Monetisation schemes.“The gross market borrowings have been adjusted down by INR 15,000 crore to take into account expected government borrowings through Sovereign Gold Bonds and Gold Monetisation Scheme,” the Finance Ministry said on Tuesday. The Centre plans to raise INR 2.49 lakh crore in the second half of FY16 out of a gross borrowing target of INR 6 lakh crore. Of this, it plans to raise INR 2.34 lakh crore through government securities. Gross borrowings in the first half of FY16 totaled INR 3.51 lakh crore, of which INR 1.71 lakh crore were raised in the quarter ended 30th September, the Finance Ministry said in its Quarterly Report on Debt Management.
Disinvestment in FY16! Govt. garners Rs. 12,701 crore -: Government has raised Rs. 12,701 crore from stake sale in PSUs in this fiscal and lined up state-run firms in sectors such as defence, oil and power for disinvestment to garner more capital, Finance Minister Arun Jaitley reportedly said. he said Government sold part of its stake in REC, PFC, Dredging Corp of India and Indian Oil Corp to raise a total of Rs. 12,701.33 crore this year. "The government identified some CPSEs for disinvestment during the year in sectors, which includes defence, fertiliser, heavy engineering, minerals and metals, oil, power, steel, technical consultancy, tourism, transport services, trading and marketing," Jaitley was quoted as saying.

October IIP comes at five year high! Stands at 9.80% -: For the first time in five year, Factory output, beating street estimates grew 9.8% in October on the back of strong show in manufacturing and electricity sectors. This compares with 3.8% in September, which was revised upwards from 3.6%. The cumulative growth for the period April-October 2015-16 over the corresponding period of the previous year stands at 4.8%. In terms of industries, 17 out of the 22 industry groups in the manufacturing sector have shown positive growth during the month of October 2015 as compared to the corresponding month of the previous year. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of October 2015 stand at 130.0B, 188.1 and 201.6 respectively, with the corresponding growth rates of 4.7%, 10.6% and 9.0% as compared to October 2014.

Government allocates Pottangi mines to Nalco -: Pottangi mines located in Odhisa has been allocated to state-run aluminium producer Nalco for manufacturing one MTPA alumina refinery by 2020. This was informed by Vishnu Deo Sai, Minister of State for Steel and Mines. The alumina refinery will come up at Damanjodi, Koraput district in Odisha. The total cost of the refnery is estimated at Rs. 5,540 crore. The government of Odisha has taken an in-principle decision in this regard, informed the minister.

Nov CPI rises to 14 month highs at 5.41% v/s 5% in October -: On account of sharp rise in food price inflation, the country's consumer price index (CPI) based inflation quickened to fourteen-month high of 5.41% as against 5% in October 2015 and 3.27% in November last year. The General Indices for the month of November 2015 for Rural, Urban and Combined stood at 128.3, 124.6 and 126.6 respectively. Correspondingly, CPI for Rural and urban stood at 5.95% and 4.74% against 5.54% and 4.28% in October respectively. Consumer food prices – which had weightage of about 47% in CPI index – grew 6.07% in November 2015 as against 1.13% in November last year. The CFPI for Rural, Urban and Combined for the same month are 132.5, 133.7 and 132.9 respectively.

India’s cement production reaches to 160 MT till Oct in FY16 -: India’s total cement production has reached to 160.45 million tonnes till October in the current financial year and the dispatch have reached to 159.56 MT, said Nirmala Sitharaman, Minister of State (IC) in the Ministry of Commerce & Industry. “The total installed capacity of cement plants in India is 360 MT per annum. At present, the cement industry is not operating at optimum capacity due to sluggish demand. As against the present installed capacity of 360 MT per annum, the total production during 2014-15 was only 270.93 MT per annum. Thus, there is ample scope to meet future requirement,” said Sitharaman.

Twenty Eight oil fields to be auction under Marginal Field Policy -: To monetise the idle oil and gas fields, under the Marginal Field Policy, the Government of India has decided to auction 28 oil and gas fields out of the 69 small and marginal fields owned by ONGC and Oil India. This was stated by Oil Minister Dharmendra Pradhan in Lok Sabha. The said 28 oil fields are located in Mumbai offshore and are to be auctioned to private players. The 69 idle oil and gas fields are owned by ONGC and Oil India, of which 28 oil fields are in Mumbai offshore and 14 are in Krishna Godavari basin.



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