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FM Reassures Investors, Outlines Further Measures

FM Reassures Investors, Outlines Further Measures

July 31: Finance Minister P. Chidambaram says the recent measures will attract $80 billion in inflows. While the government explores options to increase inflows, the industry must show confidence to invest in India, he says. “The government expects to fully finance CAD and will take all steps to achieve 5.5%-6% growth,” he reassures.

See Bullish Trends In Markets: HCL Tech

See Bullish Trends In Markets: HCL Tech

July 31: HCL Tech’s CEO Anant Gupta and CFO Anil Chanana speak to Bloomberg TV India about the company’s strong Q4 earnings and describe a roadmap for the future. The management expects progress across verticals and sees a strong renewable market. There is pent-up demand in the US, which will spur customers there to move in a positive direction.

Govt Announces New Export Incentives

Govt Announces New Export Incentives

July 31: Referring to the government’s concerns regarding weak exports and the continuing trade imbalance, Commerce Minister Anand Sharma announced incentives and SOPs to support domestic manufacturing and boost exports. The measures, effective August 1, include a 3% interest subvention for exporters and clearing of exporters’ unpaid claims.

India Growth To Be Between 5-6%: Arnab Das

India Growth To Be Between 5-6%: Arnab Das

July 31: Roubini Global Economics’ Arnab Das believes that Indian consumption is still reasonably robust but there is significant emerging market slowdown seen in the near term. However, like in other emerging markets, domestic authorities have misread how to react to a financial crisis, Das says, pointing out that India growth will be between 5-6% rather than 8-9%.

Tightening Cycle In Early Stages: Roubini Global Economics

Tightening Cycle In Early Stages: Roubini Global Economics

July 31: Roubini Global Economics’ Arnab Das believes that US federal tapering would only be slowing down pace of funds. “There is a long way to go before one says that monetary policy is being tightened globally,” he says. On a cyclical basis, the US is ahead of the UK, Eurozone and Japan in getting out of downturn.

RBI Caught In A Dilemma: Arnab Das

RBI Caught In A Dilemma: Arnab Das

July 31: The central bank is caught in a dilemma and that the country has been cornered into defensive policies, Roubini Global Economics’ Arnab Das says, adding that this phenomenon is not exclusively restricted to India. He also points out that the current account deficit (CAD) needs larger financing.

“IDBI Bank Is Well Cushioned”

“IDBI Bank Is Well Cushioned”

July 31: B.K. Batra, Deputy MD at IDBI Bank, says further steps to squeeze liquidity by the RBI will depend on the rupee’s performance. “However, no more measures seem to be visible at the moment,” he says, adding that the IDBI bank is well cushioned.

Short-Term Rates To Remain High: B.K. Batra

Short-Term Rates To Remain High: B.K. Batra

July 31: IDBI Bank Deputy MD B.K. Batra believes short-term rates for banks are expected to remain high due to RBI’s liquidity tightening measures. “There is no significant change expected in the long-term benchmark rates,” he says, while discussing the liquidity situation and the impact on credit growth.

RBI Attempting A Balancing Act: IDBI Bank

RBI Attempting A Balancing Act: IDBI Bank

July 31: Reviewing the RBI’s policy move, IDBI Bank Deputy MD B.K. Batra says there is no immediate need to raise rates. “Bankers should wait and watch the RBI’s stance before taking any decisions,” he says. “The RBI is attempting a balancing act,” he says, adding that the central bank was watching both growth and inflation.

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PNC INFRATECH

Bags EPC packages of Purvanchal Expressway in Uttar pradesh of Rs 1738 Cr

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Order requires closure of unit with immediate effect


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Launched Silver Options, Total Traded Contract Value at Rs 34.36 Cr

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R Damani sells 0.8% Stake at Rs 1360.2/Sh

Deal Value at Rs 643 Cr

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