RIL Falls Nearly 2% CAG To Submit A Final Report On KG-D6

The main benchmarks for comparison lost after the reversal of gains in early afternoon trade as volatility continues. The BSE Sensex fell 30.51 points or 0.18% to about 50 points of the points below and in about 90 days high during the day. The size of the market was very strong. Index heavyweight Reliance Industries (RIL) was weakened after the Comptroller and Auditor General (GAG) final audit report on the KG-D6 at sea RIL gas field cost RIL said that violated a production contract sharing (PSC) in block D6 D6 and treasured mining company, despite the lack of platforms.

Oil extraction service providers increase the price of oil has increased. Auto stocks were mixed. Metal stocks also were mixed. Software stocks rose to a positive U.S. economy and a weaker rupee NRI Demat account .

Stocks have been volatile. The market slipped in red just opened. The market once again in the positive. Market compared to earnings immediately. Continued volatility of the benchmark indices recovered after hitting a fresh intraday trade minimum morning. BSE barometer index Sensex back to the psychological 17 000 mark, after falling below that mark for a while ‘. Market in a positive trade earlier in the morning. The benchmark index trimmed gains to lose, after reversing early afternoon trading volatility continued.

Data for September 2011 in payment of the second quarter of advance tax by September 15, 2011 may provide clues to the Q2 September 2011 results.

At 24:20 IST the BSE Sensex was down 30.51 points or 0.18% to 17,034.49. The index was up 60.84 points at day’s high 17,125.84 in early trading. The index fell 77.63 points to 16,987.37 few days in early trading NRI online trading account .

S & P CNX Nifty fell 11.55 points, or 0.23% at 5,113.10. Nifty hit a low peak of 5,140.70 5,098.25 and intraday trading.

Extension of the market, shows the general health of the market was strong. BSE, 1530 shares rose and 947 shares declined. A total of 93 shares remained unchanged.

Among the Sensex pack 30-Share fell by 16 while the rest of them have increased. Wipro, Sun Pharmaceutical Industries, Infosys and TCS increased from 0.75% to 3.02%. HDFC Bank, HDFC Bank, Jaiprakash Associates and ONGC fell 1.33% to 2.38% PAN Card for NRI .

Index heavyweight Reliance Industries (RIL) fell 1.86% RS 816.25 after the Comptroller and Auditor (GAG), the final audit report Ril offshore KG-D6 gas field said that the cost of RIL has broken the Production Sharing Contract (PSC), D6 block and the company collects the search D6 area, despite the lack of rigs. Audit ordered the Ministry of Petroleum, in 2007, as accusations of “gold plating” or artificially the cost of the cost of gas field development. Audit of four blocks of Oil & Gas, Reliance Industries and Cairn India as that is developing gas fields in Rajasthan.

Europe’s second largest oil company BP Plc, last month completed the acquisition of a 30% interest in 21 blocks of oil and gas RIL operates in India. BP will pay a total consideration of RIL $ 7.2 billion, subject to closing adjustments for the interest to be acquired during the 21 production sharing contracts, both companies said in a joint statement last month. Additional performance payments up to $ 1.8 billion could be paid based on exploration success, leading the development of commercial discoveries, the two companies said.

Oil extraction service providers increase the price of oil has increased. Aban Offshore, Deep Industries, Great Offshore, Jindal Drilling, SEAMEC gained between 1.5% and 5.44%.

Oil traded near its highest close in over a month in New York on speculation the construction of a storm in the Gulf of Mexico represents a threat to U.S. supply, which fell this past week by a cyclone above. In terms of U.S. crude for delivery in October 2011 increased by 19% or 0.21 cents to 89.53 a barrel.

Metal stocks were mixed after LMEX, a gauge of six metals traded on the London Metal Exchange rose 1.97% Wednesday, September 7, 2011. Sterlite Industries, Hindalco Industries, Nalco and Hindustan Zinc rose between 0.25% to 0.82%. Jindal Steel & Power, Bhushan Steel, JSW Steel, Tata Steel and SAIL shed by between 0.44% to 2.08%.

Automatic has been mixed. India’s largest manufacturer of small cars by sales Maruti Suzuki India advanced 0.44% after the president’s largest automaker by sales of the country RC Bhargava said the company plans to build a new plant in Gujarat and can make a final decision in the next couple of months. Bhargava also said that a delegation of Maruti Suzuki, Osamu Suzuki compound, president and CEO of Maruti Suzuki Motor Corp., parent, will meet Gujarat Chief Minister Narendra Modi and other senior government officials later Thursday for talks on the proposed plant. This is still in an exploratory phase, said Bhargava. He said the automaker is also considering other places in India for the new plant, but declined to give details.

Maruti sales down 13%, and 91,442 vehicles in August 2011 to August 2010 injured in riots in Manesar plant production caused by labor unrest at the end of August.

Manufacturer of India’s largest truck sales of Tata Motors rose 0.89%. Tata Motors sold 64,078 cars in August 2011, 3% less than last year. Car sales fell 33% to 16,829 cars, but sales of trucks and buses increased by 21% to 43,045 units. Tata Motors has sold 1,202 units of its Nano mini-car in August 2011, a decrease of 85% per annum at its plant in Gujarat remained closed for two weeks for routine maintenance. Exports also fell from 18% to 4,204 vehicles.

Manufacturer of India’s largest tractor sales Mahindra and Mahindra (M & M) increased 0.6%. According to latest reports, the company increased its prices by almost 2% of its entire product line last month to offset the impact of high raw material costs. Its turnover increased by 30.38% to 37,684 units in August 2011 over August 2010. The producer of Xylo, Scorpio and Bolero models were exported 1928 cars, an increase of 18% per year.

India’s largest two-wheeler maker Hero sales MotoCorp shed 0.33% RS 2160.40. In stock had climbed a record of Rs 2206 in intra-day trading September 6, 2011. Company’s net revenues increased by 19% at 5.03 lakh units in August 2011 to August 2010.

India, the second largest two-wheeler maker Bajaj Auto sales fell to 1.23% of RS 1619.80. Available reached a record high of Rs 1694.90 in intra-day trading September 6, 2011. Total sales of the company increased by 16% to a record level of 3.82 lakh units in August 2011 on August 2010. Motorcycle sales jumped 17% to a record level of 3.38 lakh units in August 2011 to August 2010.

Ranbaxy Laboratories jumped 4.14% on reports the company will release a generic version of Lipitor for cholesterol-lowering drugs in the American blockbuster in late November 2011 as planned.

Foreign institutional investors (IIE) bought shares worth Rs 262.43 crore Wednesday, September 7, 2011, according to preliminary data scholarships. FIIs bought shares for a net amount of Rs 2972.63 crore in six trading sessions from 29 August 2011-7 September 2011, according to data from stock exchanges.

The government moved a step forward to renew the old laws of the land purchase Wednesday by introducing a long-delayed bill in Parliament that the aim is to make the investment in infrastructure to receive compensation for farmers and landowners. The current parliamentary session ends on Friday, September 9, 2011, and the bill may be passed in Parliament will resume later this year. The compulsory acquisition of land for the public good is a controversial issue as crowded in India aims to industrialize and projects of large factories, buildings and transport, delaying the conflict in the country.

Annual inflation in food articles group decreased to 9.55% in the week ending August 27, 2011, from 10.05% the previous week, the Ministry of Commerce and Industry said in a statement. It was 14.76% during the same period last year. But inflation in primary articles group rose to 13.34% in the week, from 12.93% in the week ending August 20, 2011. It was 15.24% in the period of the previous year. Inflation in the Fuel & Power group was 12.55% in the week ended 27th unchanged from the previous week in August, the latest data show. It was 12.61% in the corresponding week last year.

Data on September 12, 2011 in industrial production in July 2011 and September 14, 2011 on inflation in August 2011 will give clues about the position of the central bank’s policy probably mid-quarter review of monetary policy September 16, 2011. The Reserve Bank of India (RBI) said that a change in the anti-inflationary monetary policy is based on signs of a lasting slowdown in inflation.

Moody’s Investors Services confirmed its rating of Baa3 foreign currency debt rating of India and the Ba1 local currency debt annual credit analysis published this week. Votes for the company given the positive outlook for bonds denominated in Indian rupees, saying it is considering a rating of Baa3 uniform for all bonds if India is to improve the fiscal position and its commitment to strengthen the market inside. Currency debt outlook is stable.

The report was optimistic about India’s ability to withstand a global economic slowdown. Although it is not immune to a slowdown in international growth, strong domestic demand and economic diversity provides protection against a downturn in the areas of overall risk, the report said. He noted that India’s foreign exchange reserves equal to four times its external debt.

A debt-GDP ratio of 71% is worrisome because the interest on this debt eats 25% of revenues from India every year. However, Moody’s expects continued growth incremental GDP and fiscal consolidation efforts will continue to reduce the public debt / GDP, the report said.

Services sector in India has increased its slow rate of more than two years in August 2011, and strangled by a weak expansion of new business in the world’s faltering economy and tense domestic monetary conditions are weighed, the research showed on Monday September 5, 2011. HSBC Markit index business, which is based on a questionnaire of about 400 companies, slumped in July 58.2 53.8 August, the index’s largest one-month decline since January 2009. It was also the weakest growth since June 2009, but the index remained above the 50 mark that separates contraction in growth for 28 consecutive months.

The new business sub-index fell to its lowest level in three months in August to 54.9 from 59.3 in July, which dampens global economic conditions hit orders. The prospects for new business have also been revised down in August. The study also showed a decline in employment in the service sector for the second consecutive month, new business growth has slowed, while input costs and prices of production continued until March before.

Manufacturing activity in India in August 2011 slowed to a minimum of 29 months as exports took a beating amid the uncertainties that persist in the global economic environment, according to a poll released last week. The total seasonally adjusted purchasing managers HSBC, prepared by Markit, fell to 52.6 in August from 53.6 in July. The rate of flow of new orders fell in August to the slowest in 29 months, export orders fell at their fastest pace since the series began, HSBC said.

Arrears production fell for the first time since March 2010 working pressures subsided. In addition, inflationary pressures have increased both the input and output prices rose.

Exports increased by 81.79% to $ 29.3 billion, while imports rose 51.5% to 40.4 billion in July 2011 in July 2010, leaving a trade deficit of $ 11 billion, data showed last week.

Most Asian shares were Thursday, September 8, 2011, before important political statements due by the United States and Europe. The key benchmark indices in South Korea, Taiwan, Japan and Indonesia increased from 0.26% to 0.72%. The key benchmark indices in China, Singapore and Hong Kong were down between 0.14% to 1.01%.

The Bank of Korea held out of increased borrowing costs today, amid mounting risks to global recovery stall.

China will launch a series of economic data Friday, September 9, 2011, with the emphasis squarely on inflation. Any surprise, in reverse, especially a fight on inflation in July would be negative for stocks in China and probably damage from elsewhere in Asia. With food prices and fuel doping, the Chinese inflation reached a peak of three years from 6.5% in July 2011, prompting some movements of monetary tightening by the Bank of China.

The European Central Bank (ECB) should maintain its key rate unchanged at 1.5% at its monthly meeting on the policy on interest rates today, 8th September 2011. At its policy meeting today, the Bank of England (BOE) Monetary Policy Committee is also expected to keep its key interest rate benchmark interest 0.5%, 31 consecutive months with such rapidity.

The U.S. index futures said the Dow could fall 40 points at the market opening Thursday, September 8, 2011.

The Federal Reserve, Ben Bernanke, will speak Thursday, September 8, 2011, the outlook for the U.S. economy and the possibility of further quantitative easing, his last speech scheduled in advance two-day Federal Open Market Committee meeting on 20 and September 21, 2011. August 26, 2011 Bernanke has refrained from asserting that the Federal Reserve, immediately introduce new measures to support the U.S. economy, arguing that the options discussed at the meeting of the Federal Reserve in September 2011.

Stock markets had a solid performance, Wednesday, September 7, 2011, after a German court ruled in favor of the project in the euro area rescues, Beige Book Federal Reserve said the U.S. economy still growing, and details appeared on the U.S. president of job creation proposals will be announced later Thursday, September 8, 2011. In a speech before a joint session of Congress Thursday night, U.S. President Barack Obama plans to propose increasing employment by injecting over 300 billion dollars in the economy next year, mainly through tax cuts, infrastructure spending and aid to state and local governments.


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