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Commodities & Forex Economy & Markets
After declining for three consecutive weeks, the Indian
equity market was back as the NSE Nifty and the
Sensex hit fresh life-time high during the week. Indian
stocks witnessed a pre-Budget rally amid expectations
that Finance Minister Jaitley will announce measures
aimed at bolstering economic growth

Services activity rose to a 17-month high in June on
the strength of robust order flow. The HSBC PMI rose
to a vigorous 54.4 points in June from 50.2 in May,
well over the 50-point mark that separates expansion
from contraction

India received $37.8 billion foreign investment
between January and March, a strong inflow being
attributed to the anticipation of a stable government
ahead of the Lok Sabha elections. RBI data shows
that $16.1 billion came in as FDI during the quarter
while another $13.4 billion came in as portfolio
investment
India's foreign exchange reserves rose to
$315.8 billion as of June 27 as per RBI.

Foreign currency assets, the major
contributor to reserves, rose $850.9 million to
$288.813 billion. Gold reserve with RBI
remained at $20.790 billion

According to the IMF's SDDS data, RBI
bought $19.1 billion of short-term forwards in
May reaping the advantage of improved
investor confidence after the Modi win

Oil and safe-haven favorite gold were also
under pressure as the unrest in Iraq and
between Ukraine in Russia - supportive
factors for both in recent weeks - remained in
a lull


Global Markets
Index 30-Jun 4-Jul Change
U
S
A

Dow Jones 16,827 17,068 1.44%
NASDAQ 4,408 4,486 1.76%
E
u
r
o
p
e

FTSE 100 6,744 6,866 1.81%
DAX 9,833 10,009 1.79%
A
s
i
a

Hang Seng 23,191 23,546 1.53%
Nikkei 225 15,162 15,437 1.81%
Commodities 30-Jun 4-Jul Change
INR / USD 59.94 59.50 (0.74%)
Crude ($) 112.36 111.00 (1.21%)
MCX Gold (INR) 27,672 27,464 (0.75%)
Silver (INR) 44,529 44,291 (0.53%)
Crude: per barrel | Gold: per 10 g | Silver: per kg
29 Jun 6 Jul
Commodities & Forex Economy & Markets
For the month of June 2014, passenger vehicles
volumes in India continued to be on a strong footing.
Pre-buying was seen due to expectations of reversal
of excise duty cuts announced in interim budget

Asian shares rose to a three-year peak on Friday,
though the dollar inched away from overnight highs hit
on U.S. jobs data which underscored the strength of
the economic recovery whereas European stocks
were seen taking a breather after recent gains

U.S. nonfarm payrolls rose by 288,000 last month
and the unemployment rate fell to 6.1%. Employment
has grown at more than 200,000 in each of the last
five months, the first such streak since the late 1990s




Brent futures held steady around $111 a
barrel on Friday on signs of an improving
demand outlook, although the benchmark is
still set to post its biggest weekly loss since
early January as supply worries that have
rattled oil markets for weeks recede.

U.S. oil futures were down for a seventh
straight day amid expectations of more
shipments from Libya and Iran.

29 Jun 6 Jul
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Sensex
DICV rolls out Fuso trucks for left-hand drive export markets
Daimler India Commercial Vehicles has rolled out Left-Hand Drive Fuso trucks for the export
markets from the company's Oragadam manufacturing facility near Chennai.
The company, which is a wholly-owned unit of Daimler AG and Mitsubishi Fuso Truck and Bus
Corporation, said the truck range -- Fuso FJ would be first launched in markets like, Nigeria, Ethiopia
and Egypt and in the mid-term will be rolled out in Africa, Latin America.
General Motors launches Manchester United editions of Chevrolet Beat, Sail in India
General Motors has launched special editions of its hatchback models Beat and Sail in India to mark its
partnership with popular English football club Manchester United. The launch of Manchester United
limited editions of Chevrolet Beat and SAIL hatchbacks comes at a time when the Chevrolet brand is
making debut on the club's jersey
Hero Motor Corp commences construction of $70-million Colombian unit
Hero Moto Corp, the world's largest two-wheeler maker by volume has started construction of a
manufacturing plant in Colombia, becoming the first Indian two-wheeler company to invest in a
production base in Latin America as it expands rapidly abroad after ending a nearly three-decade-old
joint venture with Honda Motor
Honda launches its most affordable bike in India at Rs 41,100
Honda Motorcycle & Scooter India (HMSI) launched its most affordable bike in the country, priced at Rs
41,100 (ex-showroom Delhi) as it aims to strengthen its position in the mass segment and rural areas.
The company is also looking to invest another Rs 1,000 crore on various activities including capacity
expansion in the current fiscal
29 Jun 6 Jul
Government asks PSU banks to issue RuPay debit cards to customers, install POS terminals
Finance ministry's department of financial services has urged CEOs of public sector banks to issue
RuPay cards to all existing customers who do not have debit cards as well as to new clients and install
point of sale terminals for RuPay card. RuPay was launched by National Payments Corp of India
(NPCI), set up to function as a cost-effective payment services entity.
Standard Chartered Bank, ICICI Prudential Life ink bancassurance partnership
ICICI Prudential Life Insurance entered into a 15 year strategic bancassurance partnership with
Standard Chartered Bank. Under the terms of this agreement, Standard Chartered Bank will distribute
a wide array of ICICI Prudential Life's comprehensive life insurance products through its network of 99
branches across 42 cities.
Barclays India back in black with Rs 382 crore profit
Barclays Banks Indian subsidiary clocked a net profit of Rs 382 crore due to a strong focus on
controlling costs and boosting revenues. Bank achieved cost-income ratio of 37.9% against 55.8% in
last year. The bank has completely exited the retail and commercial lending operations after making
aggressive provisions for loan losses, shutting down some branches and ATMs and now positions
itself as a corporate bank providing wealth management and investment banking service.
Bank loans grew slower in May
Banks' lending growth fell in May to 13% compared to a 15.3% growth last year as credit to industry
and services sector grew slower than earlier. Credit to industry rose by 11.4% as compared with a
15.9%, credit to the services sector slowed too and grew by 13.6% compared with a 14.5% rise year-
ago. Personal loans growth was muted at 14% as compared with 17.1% earlier.
29 Jun 6 Jul
Nivea to set up 1,000 crore plant in Gujarat
To reduce dependence on imports and make its products affordable to a wide swath of the population,
global skin and body care brand Nivea is setting up its first manufacturing plant in the country at
Sanand (Gujarat) with an investment of Rs 1,000 crore. The plant will be spread over 70,000 square
metres after being completed next year, will house Nivea's first ever R&D centre in the Saarc region.
'India's technical textile market may touch $32 bn by 2023'
Indias technical textiles market which is currently estimated at $14 billion is likely to reach a level of
$32 billion by 2023, by diversifying towards non-woven technical textiles and forging global
partnerships with counterparts. Currently, Indian textiles and apparel industry is estimated to be worth $
99 billion which includes both domestic consumption and exports. It is projected to grow to $ 226 bn.
Budget 2014: Cigarette makers urge government to not increase excise duty
Worried by falling stock prices and plunging sales, cigarette makers are lobbying hard to prevent the
government from hiking excise duty for the third straight year. The centre had hiked excise duty on
cigarettes by 22% in 2012-13 and 18% last fiscal with several state governments too hiking the VAT
rate. This has triggered 40-55% hike in cigarette prices in phases over the last two years which has
taken a toll on the legal cigarette industry whose sales volume dropped by 9% last fiscal
FMCG companies run into growth bump in South
South India, a market which has always been used as a product testing ground by FMCG players,
given its demography of a more evolved consumer, has become a tough market for these very
companies and high category penetrations could have led to this situation. The South has grown the
slowest among all regions in the last one year for the FMCG industry.
29 Jun 6 Jul

ReNew Power Ventures Pvt Ltd has raised $140 million from three investors, including a private equity
fund managed by Goldman Sachs, the renewable energy firm said on Thursday. Asian Development
Bank invested $50 million, while Global Environment Fund, a leading alternative asset investment firm
focused on energy, environment and natural resources, invested $20 million.


US Export-Import Bank weighs loan to major India coal project
The US Export-Import Bank is considering financing a massive coal-fired power plant in India despite
the fact the Obama administration has called on domestic and global public lenders to stop funding
coal-plants in his climate change strategy .The board of the Ex-Im Bank, the United States' export
credit agency has changed its stance based on future prospects.

ReNew Power raises $140 million from investors, including Goldman Sachs
Oil Ministry to move CCPA on raising LPG, kerosene prices
The Oil Ministry is likely to move the Cabinet Committee on Political Affairs (CCPA) soon with an
expert panel recommendations of raising kerosene price by Rs 4 a litre and cooking gas (LPG) rates by
Rs 250 per cylinder. The ministry is preparing a draft note for consideration of the CCPA on pricing of
diesel, kerosene and LPG, official sources said.


Oil companies made Rs 50,000 crore profit in 2007-12, CAG report says
The public sector oil marketing companies (OMCs) are making profits by selling oil and petroleum
products to consumers, contrary to the perception that they are selling oil at a loss. The gain, which
could easily have been passed on to retail consumers, has been estimated to be around Rs 50,000
crore in five years between 2007 and 2012.


29 Jun 6 Jul
Elder Pharmaceuticals completes domestic formulations business sale transaction
Drug firm Elder Pharmaceuticals has completed the transaction for sale and transfer of it's branded
domestic formulations business in India and Nepal to Torrent Pharmaceuticals on a slump sale basis.
This transaction was in pursuance of the Business Transfer Agreement entered into between Elder and
Torrent on December 13, 2013.

Read more at:
http://economictimes.indiatimes.com/articleshow/36813621.cms?utm_source=contentofinterest&utm_mediu
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Sun Pharmaceutical Industries recalls 200 vials of cancer drug, Gemcitabine from US market
Sun Pharmaceutical Industries has recalled 200 vials of cancer drug Gemcitabine for injection from
the US market for lack of assurance of sterility. Sun Pharma's US subsidiary Caraco Pharmaceutical
Laboratories initiated the voluntary recall on April 9.
Cipla inks pact to acquire 51% stake in Yemeni company
Continuing its overseas acquisitions, pharma major Cipla has inked a pact with a Yemeni firm to
acquire its majority stake for $21 million . The company has signed a definitive agreement to acquire a
51% stake in a pharmaceuticals manufacturing and distribution business in Yemen. As part of its global
expansion, Cipla had completed the buyout of South African pharma firm Cipla Medpro for Rs 2,707
crore last year.
Zydus Cadila loses two popular brands
Around 10 years after Ahmedabad-based Zydus Cadila started manufacturing and distributing Dulcolax
and Buscopan, these gastro medicines have now been transferred back to MNC firm Boehringer
Ingelheim (BI) after talks between the two failed earlier this year to extend the partnership.
It is learnt the German company is re-launching the drugs, but with new names .
29 Jun 6 Jul
BHEL commissions Rajasthan discom's Rs 990-crore thermal unit
State-run power equipment maker BHEL has successfully commissioned another 250 MW thermal
unit, valued at Rs 990 crore, at Chhabra plant in Rajasthan. With the commissioning of this fourth 250
MW unit at Chhabra plant, the capacity of the coal-based project has gone up to 1,000 MW.
Punj Lloyd wins Rs 1,418cr order from Kuwait National Petro Co
Diversified EPC conglomerate Punj Lloyd has made its foray into Kuwait by bagging a Rs 1,418 crore
order for expansion and revamp of a depot from Kuwait National Petroleum Company (KNPC). The
scope of work includes design, detailed engineering, procurement, construction and commissioning of
11 new floating roof product tanks with a capacity of about 228,000 cubic metres.
GMR Infra & Jaiprakash Associates launches QIPs
GMR Infra is looking to raise at least USD 200 million through QIPs. The price band is Rs 31.5-32.4
and the floor price is Rs 33.14. Jaiprakash Associates is looking to raise USD 250 million via QIP
issue. The price band is Rs 72-74 with floor price was Rs 73. JP Associates have mentioned that most
of the money which they are going to raise in this QIP will be used to repay their long-term debt.
Adani Ports partners CMA CGM Group of France for Mundra expansion
Adani Ports and Special Economic Zone Ltd will build a new common user container terminal at
Gujarats Mundra Port with CMA CGM Group S.A. of France. CMA CGM is the worlds third-largest
container shipping firm. The project will cost Rs 2,000 crore and the two partners will form an equal
joint venture to start construction immediately with a target to complete work in 24 months.
29 Jun 6 Jul
Infosys becomes first IT firm to file sustainability report
Global software major Infosys Ltd became the world's first IT firm to file a sustainability report based on
the latest global reporting initiative (GRI) framework. The sustainability report demonstrates reporting
practices and addresses expectations of the stakeholders. GRI's fourth generation (G4) is the widely
respected sustainability reporting framework, worldwide.
Tech Mahindra forms joint venture with Saudi Arabia's Midad Holding
Tech Mahindra said it has formed a joint venture with Midad Holding to provide IT and ITeS solutions in
Saudi Arabia. Midad will hold 51 per cent stake in the JV firm (to be called Tech Mahindra Arabia),
while Tech Mahindra will hold the remaining 49 per cent share. Headquartered in Al Khobar, Tech
Mahindra Arabia will also have a presence across major cities in Saudi Arabia

Snapdeal to showcase smartphone, sports cam
Online marketplace Snapdeal said it will showcase the first set of consumer-centric products, including
a smartphone and a sports cam, created under its 'Launchpad' programme. In April, Snapdeal had
unveiled 'Launchpad' offering a platform for innovators and inventors across the country. The Click Pro
(sports cam) and Alpha Feather (smartphone) are two products being introduced in this edition.
Cisco ties-up with Electronics City Industries Association ; to develop Asia's 1
st
IoT innovation
hub
Cisco announced a strategic engagement with Electronics City Industries Association to develop Asia's
first end-to-end Internet of Things (IoT) innovation hub . The collaboration will help establish the
foundation for a new ecosystem to help Electronic System Design and Manufacturing (ESDM)
companies and other companies of electronic city engage on IoT product development .

29 Jun 6 Jul
Reliance Industries to debut in e-commerce business with Mumbai grocery venture by year-end
Grocery will be the sharp edge of Reliance Industries' e-commerce wedge. It plans to offer express
deliveries of fresh fruit and vegetables to homes in Mumbai, making it the first such bid to bridge the
last-mile connect by a large retailer. India's third most valuable company will make its debut in the e-
commerce business with the Mumbai grocery venture by the year-end.



Spencer's to add 80 hypermarkets, mulls IPO next year
Over the next four years, Spencer's will invest at least Rs 250 crore to add 80 hypermarkets across the
country. The investment is likely to be financed through an IPO sometime next year. Speaking to TOI
on Thursday, Spencer's Retail head Shashwat Goenka said Spencer's would grow aggressively in the
next four years, taking the store count beyond the 200 mark from the current figure of 127.


Canadian chain Pita Pit to open 50 stores in India
Canadian quick service restaurant chain Pita Pit will open over 50 outlets in India over next five years
to expand footprint in the northern and eastern regions to being with. "We are looking at opening 50
plus Pita Pit outlets in the country in the five next years," Pita Pit India Chairman Pramod Dhawan



Walmart begins biz-to-biz e-initiative in India
Wholesale club members in Lucknow and Hyderabad can order products via their website which will be
delivered to their homes WALMART READY Walmart is ready for selling products to India's consumers
whenever the govt allows foreign participation in e-commerce business. WalmartLabs is ready with the
tech for e-commerce push in India

29 Jun 6 Jul
Idea Cellular joins hands with Opera Software, Quikr to offer sponsored data usage plans
Idea Cellular joined hands with Opera Software and Quikr to offer sponsored mobile data through
'Sponsored Web Passes. The tri-partnership is aimed at enabling more Indians to get online and
experience internet on their mobile phones, the first such initiative in South Asia
ITI wins two BSNL advance purchase orders for Rs 2,984
ITI Limited has bagged two advance purchase orders from BSNL amounting to Rs 2,984 Crore. The
orders are part of Network For Spectrum (NFS) project for establishment of Optical Fibre Network
throughout the country. ITI is the only Central Public Sector Undertaking to bag two packages out of
seven packages for NFS tender against stiff competition from multiple players
Sterlite tech bags Rs 1950 crore contract from BSNL
Vedanta group company Sterlite Technologies have collectively secured nearly Rs 1,950 crore worth of
contracts from BSNL. The company will be involved in supplying and handling deployment of an optical
fibre cable backbone for a mega telecom network that BSNL is building for India's armed forces
Department of Telecom rejects TRAI objection to Bharti-Loop deal
DoT has rejected the sector regulator's objections to a deal which will see Bharti Airtel take over Loop
Mobile's subscribers and passive infrastructure, saying the agreement doesn't violate any rules,
including those on mobile number portability (MNP). TRAI had recently written to DoT, saying the
agreement between the two companies implies that subscribers will be ported out involuntarily
29 Jun 6 Jul