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The BJP Government will take more time to decide on the pricing of domestically produced gas, a politically sensitive issue. On Wednesday, the Cabinet Committee on Economic Affairs (CCEA) decided to defer the issue by three months.
Through the day, the market was abuzz with speculation on what the price wBriefing newspersons, Petroleum and Natural Gas Minister Dharmendra Pradhan said it was felt that the issue required more discussion and that consultations would be held with stakeholders, keeping the public interest in mindould be.
While the official position was that the new Government must be given time to review the matter, it is not clear on what issues fresh consultations will take place. The new price of gas was proposed to be around $6 a unit (gas is measured in million British thermal units), a climbdown from the earlier recommended $8 a unit, which was based on the formula derived by the Rangarajan panel. The formula itself was not acceptable to many within the Government as well as stakeholders
The method that will be used to calculate the price — on the basis of gross calorific value (GCV) or net calorific value (NCV) — is also a point of contention. The heat produced from natural gas is measured in calorific value. If it is based on GCV it will mean prices automatically going up by a dollar, which was not acceptable to buyers.
You may end up paying more for sugar and rail travel, but the prices of cars, bikes, televisions, refrigerators and air-conditioners will not go up for the time being.
The Government on Wednesday extended an excise duty concession — due to expire in a few days — by six months.
“Considering the present situation in various sectors, the Government today decided to extend the facility of reduced excise duty to all those sections (automobiles, consumer durables and capital goods) for a further period of six months. They will continue till December 31, 2014,” Finance Minister Arun Jaitley told reporters.
The relief, as announced in the Interim Budget, was originally scheduled to end on June 30.
In the Interim Budget presented on February 16, the then Finance Minister P Chidambaram had lowered excise duty on small cars, motorcycles, scooters and commercial vehicles to 8 per cent from 12 per cent.
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: 26/6/2014
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/-)
Yeessssssssssssssssssssssssss
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
