30/6/2014 stocks news

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Prime Minister Narendra Modi has set in motion the first major revamp in decades of India's archaic labor laws, part of a plan to revive the flagging economy, boost manufacturing and create millions of jobs.

Successive governments have agreed labor reform is critical to absorb 200 million Indians reaching working age over the next two decades, but fears of an ugly union-led backlash and partisan politics have prevented changes to free up labor markets.

Now, with the benefit of a single party majority in the lower house of parliament for the first time in 30 years, laws that date back to just after the end of British rule are set for an overhaul. Officials at the labor ministry say this is a top priority in the government's first 100 days in office.

India has a forest of labor laws, including anachronisms such as providing spittoons in the work place, and are so complex that most firms choose to stay small. In 2009, 84 percent of India's manufacturers employed fewer than 50 workers, compared to 25 percent in China, according to a study this year by consultancy firm McKinsey & Co.

The World Bank said in a 2014 report that India has one of the most rigid labor markets in the world and "although the regulations are meant to enhance the welfare of workers, they often have the opposite effect by encouraging firms to stay small and thus circumvent labor laws"

Signalling a sharp improvement in investor sentiment, and uptick in basic macro indicators, the CII Business Confidence Index has jumped to 53.7 from 49.9 in the previous quarter.

“The expectation that the stable government at the Centre would bring growth back to India, along with a mild upturn in some economic indicators in form of recovery in exports, decline in twin deficits, buoyant foreign capital inflows, strengthening rupee and moderating inflation has provided a big boost to business sentiments in the country,” Chandrajit Banerjee, Director General, Confederation of Indian Industry, said.

About 56 per cent of the respondents expect their sales and new order to increase in the first quarter of 2014-15, which is much higher than the previous quarter wherein only around 35 per cent respondents expected a rise in sales, the 87th Business Outlook Survey said

Majority of the respondents expect their investment, domestic as well as international, to go up during the current quarter. Businesses, besides increasing new investment, have started experiencing rise in capacity utilisation.

According to the survey, 44 per cent of the respondent firms expect the capacity utilisation levels to exceed 75 per cent in the first quarter of fiscal 2015, up from 34 per cent respondents in the previous quarter.

Big bull Rakesh Jhunjhunwala, who expects a strong market boom in coming years, sees tremendous opportunity in retail as a sector which he says can grow up to five times its current size in the next five years.

Jhunjhunwala of Rare Enterprise is of the view that India is a country where people save $600 billion a year, but market investment is not even $6 billion. This $600 billion is going to be $1 trillion by 2020-2021. In 1993, 17% of savings came to the stock market but in 2007, only 11% did so.

So if 10 per cent of the savings is to come, stock markets are going to get $100 billion of local money a year. And there is no reason why it can't happen. The relevant framework is in place, he says.

Jhunjhunwala, who is extremely bullish on growth prospects of the Indian economy, believes that the country is entering a new phase of economic growth. He sees India growing by 9% by 2017-2018 and 10% by 2018-2019.

Commenting on the ongoing stock market rally at a CII conference on Tuesday, Jhunjhunwala said, "Buy companies which have strong managements and good corporate governance. Always look at opportunities with tremendous growth potential..

 the North East.

 

Prime Minister Narendra Modi has said the nation needs to think big and focus on skill, scale and speed to revive India's growth story and called for substantially enhancing the "input of intellectual think-tanks" for better policy frameworks.

Speaking at a function to release a book edited by Bibek Debroy, Ashley Tellis and Reece Trevor titled "Getting India Back on track - an action agenda for reform", the PM also called for universities to actively analyse the developmental process in the country and contribute in making more informed policy-related decisions.

Modi released the book, published by Carnegie Endowment for International Peace, at his Race Course Road residence on Sunday. "The need of the hour is to think big. The more we focus on skill, scale & speed, it will increase India's growth trajectory," the PM later tweeted "Sadly, role of think tanks has not increased to provide critical inputs to policy making," the PM said, possibly referring to bodies like the Planning Commission that he had been extremely critical of, during his annual visits to Yojana Bhawan to discuss state allocations.

India's infrastructure building efforts, the PM said, need to shift from highways to "i-ways" and optical fibre networks. "Cities in the past were built on river-banks. They are now built along highways. But in future, they will be built based on availability of opticalfibre networks and next-generation infrastructure," Modi said, adding that urbanization should be treated as an opportunity instead of a problem.

  

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What To Do Today..........

Our Opininon for Today's Market.......

1.Market Looks Volatile.....

1.Some Insider Say NIfTy go up to 6200

What To Do Today........

Nifty....Today Face Resistance at......7688...7735..7785

Nifty.....Today Support at ..7620...7562...7505

Nifty Range...6300--------7900

TRACK ME RESEARCH......

NEXT TGT FOR

Our Opinion for Today's Market.......

1.Stock Specific Movement Expected Today ......

2. Mid-caps Looks Good....

INTRADAY HOT STOCKS: 30/6/2014

buy ashinpn @ 535 tgt 555/575/590 sl 495

buy hindalco sl 161 tgt 190

buy ongc around 415-420 tgt 480+

buy RIL arounf 1020-1040 sl 980 tgt 1100/1150

buy ICICI BK SL 1395 TGT 1450/1480 sell below 1390

BUY HDFCBK AROUND 815-825 TGT 840/850/880 SL 795

ALL PSU STOCKS LOOK GOOD 

expiry expect around 7250/7350 this mounh

L&T FINANCE HOLDINGS

(BSE TICKER-533519@ Rs.75/-)

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RBI TO ANNOUNCE NEW BANK LICENCE SOON

L&T HOLDINGS EXPCTED TO GET FIRST BANKING LICENCE !!!!

Rs.90/120/- Rs.150/-

Alert:- Our Subscriber's Long in Stock!!!

DELTA CORP

(Bse Ticker-532848@ Rs.90/-)

Stock Again Ready For Big Up Move

Above Rs.101/-

Uppar Range For Stock Rise to Rs.140/-

TARGET

Rs.120/150  SL Rs.79/-

MARKSANS PHARMA

(Bse Ticker-524404@ Rs.18.80)

Just Watch Rs.19.25 Clsoing Above Rs.19.25

Gate Open For Stock To Cross Rs.28/-

TARGET

Rs.21/- Rs.24/- SL Rs.15/-

Forget Short Term Movment