Stock Watch
Jet Airways to offer new flights to Dubai
India aviation firm, Jet Airways has said that it will launch new services on New Delhi-Dubai and Mangalore-Dubai routes from January.
The airline will start the daily New Delhi-Dubai-New Delhi flight from 8 January, 2013. The Mangalore-Dubai flight, which will begin operations on 3 January, will be operational for six days per week. The flight is to cater to the increasing number of expatriates from Karnataka.
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Wipro shareholders approve demerger
The shareholders of Indian IT giant, Wipro have given their final approval to demerge the company's IT and non It business in order to be able to better manage the operations.
The shareholders of the company met at the company's Electronic City, Campus in Bangalore to discuss and determine the fate of a proposed demerger of the company. About 393 shareholders were present at the extraordinary general meeting on Friday.
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NDC approves 12th Five Year Plan document with 8% growth target
The National Development Council (NDC) on Thursday approved the 12th Five Year Plan Document with a lower growth target of 8 per cent.
The Planning Commission had suggested a cut of 0.2 per cent in growth target for the running Five Year Plan, from 8.2 per cent to 8 per cent. The Planning Commission had decided to drag down the growth target due to weak global economic signals.
It was the second time when the Planning Commission slashed its growth projection for the economy. Earlier in September, it had lowered its growth estimate from 9 per cent to 8.2 per cent.
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Ratan to hand over Tata Group’s reigns to Cyrus Mistry today
Today, December 28, Ratan Tata will hand over the reigns of $100-billion Tata conglomerate 44-year-old Cyrus Pallonji Mistry.
Mr. Tata is retiring from the top job as he has turned 75 today. However, Mr. Tata will continue serving as honorary chairman emeritus and also remain chairman of the several Tata trusts.
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CAG team to visit KG-D6 block in first week of January
The Comptroller and Auditor General (CAG) will reportedly send a teal of auditors to RIL's KG-D6 field in early January to gather all documents required for financial as well as performance audit of the controversial oil & gas block.
Requesting anonymity, a senior CAG official revealed that CAG auditors would visit the block in the first week of January. The official added that the petroleum ministry had been requested not to approve the company any plan for further capital spending until it agrees to provide all required documents to the national auditor.
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Gold demand to go up in 2013
The demand for gold has been sluggish for the last two-three weeks, but analysts believe that it will escalate in the coming year as prices of the yellow metal will become largely stable.
Analysts are of the view that better economic growth prospect and potential rate cuts by the Reserve Bank of India (RBI) would make prices of the yellow metal will likely to settle in the range of Rs 29,000 to Rs 32,000 per 10 grams in the 2013.
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Indian Market Flat; Tata Motors, Tata Steel Gain
Indian Stock Market opened flat on Thursday after yesterday's rally. The stock indices were marginally higher with BSE Sensex at 19431 and NSE Nifty at 5907 at 10.12 AM IST. Among major gainers were Axis Bank and Tata Motors.
Asian markets were positive with Nikkei continuing from yesterday's upside movement. Nikkei 225 was up by nearly a per cent at 10314. Hang Seng was up by 0.42% at 22636 and Straits Times was marginally higher at 3185.
USD was little weaker in today's trade. USD-INR was trading at 54.78. Euro-INR was trading at 72.48. Pound-INR was trading at 88.39.
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NCR tops in job generation in 2012: report
The National Capital Region (NCR) topped the country in job generation in 2012, followed by Mumbai and Bangalore, a report by Associated Chambers of Commerce and Industry of India (Assocham) revealed.
According to the "Job Trends Across India in 2012" report, the NCR generated more than 1.1 lakh jobs so far this year, while Mumbai and Bangalore generated more than 77,000 and 75,000 jobs, respectively.
Chennai grabbed the fourth spot in the list of the country's top job-generating cities, by generating more than 44,000 jobs.
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Yen falls to 20-month low as Japan ushers in a new premier
The Yen slipped to a twenty-month low against the US dollar on Wednesday, as Shinzo Abe, who is eager to take drastic stimulus steps to pull the economy out of deflation, takes over as Japan's new prime minister.
Shinzo Abe, whose party won recorded a massive win in elections earlier in December, will swear in as Japan's premier today. He has plans to pursue a blend of aggressive monetary policy easing and massive fiscal spending to help the country's economy beat deflation.
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Indian Market Opens Positive on Wednesday; Asian Markets Strong
Indian Stock Market opened positive on day after Christmas with Capital Goods, Consumer Durables and Metal counters trading strong. Japanese Yen has hit 20 month low against USD and Euro and stock prices of major Japanese exporters were trading higher. Other Asian markets were trading positive.
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