Financial focus Weekly Newsletter InFINeeti ISSUE 2
VOLUME 1
2013
TOP STORIES…….…....1 MARKET ACTIVTY ….... 2 ECONOMICS …………... 3 TERM OF THE WEEK … 4 TRADING CALLS……… .5
Financial focus
A one stop guide to know about all the recent happenings in the finance world
TOP STORIES : INDIA
CABINET CLEARS ORDINANCE ON FOOD SECURITY Impatient over the delay in arriving at a consensus over the proposed food security law with other parties, the govt decided to promulgate an ordinance to implement the Food Security Bill. However it will still need to be passed in both houses of Parliament before it can be made into law. The Ordinance, which will guarantee 5 kg of rice, wheat and coarse cereals per month per person at a fixed price of Rs. 3, 2, 1 per kg, respectively, will come into effect after President Pranab Mukherjee signs it
TELECOM COMMISSION APPROVES 100% FDI IN TELECOM SECTOR Telecom commission approved hiking FDI limit from 74% to 100%. A cabinet note to be released soon. Telcos hail the move & says it will benefit the sector. “The telecom sector in India needs additional funds in the next few years to stay current with emerging technologies, increase offerings and improve penetration. Debt or local investments alone will not be enough “
INDIA INC REVENUE LIKELY TO GROW 5-6% IN Q1: CRISIL "India Inc's revenues excluding banks and oil & gas companies are likely to grow at 5-6% (y-o-y) in the April-June 2013 (Q1, FY'14). While this is only a marginal improvement, at least the sharp drop witnessed over the last five quarters is expected to be curtailed. Operating margins, however, are likely to remain stable in Q1, 2013-14 at 18.5% " CRISIL said