Market Update:
Sgx Nifty -29 pts
Dow -118.68 pts ,Nsdq -27.16 pts , S&P -18.44 pts , Bovespa -1070 pts , Ftse -19 pts , Dax -39 pts , Cac -34 pts , Nikkei +45 pts now , Crude @ $50.86 brl (-0.18 ), Brent @ $53.90 brl (-1.82) , Gold @ $1144.40 (-19.40), Silver @ $16.88 (-0.34), Euro @ $1.0514, JPY @ $117.1300, INR @ $67.4450
Today's Corporate Action
15th Dec Ex Date
ALANKIT
Stock Split From Rs.2/- to Rs.1/-
COLPAL
Interim Dividend - Rs. - 3.0000
ONGC
Bonus issue 1:2
VISHALBL
Bonus issue 1:4
Today's Key Result
15th Dec
Istreet Network, J&K Bank,Saboo Sodium
************************************************
Economic Times
Business Standard
Ø Fed raises rates for 2nd time since Great Recession
Ø Back-dated FDs may be behind huge deposits by co-operative banks: Taxmen
Ø India Inc's overseas investment plunges 71% in Nov
Ø NTPC to replace 25 year old power plants in 5 years
Ø NSE to file DRHP for IPO by Dec 20: chairman
Ø CBDT warns of penal action if I-T returns are 'drastically' changed
Ø V K Sharma appointed LIC chief for 5 years
Ø Mistry claims 78% retail investors opposed his removal
Ø RBI unwilling to cede control over payments regulations
Ø Trump appoints PepsiCo CEO Indra Nooyi to strategic, policy forum
Ø CDSL to file IPO documents this month
Ø DoT issues demand-cum-show notices to six telcos for Rs 29k cr
Ø Commodity blow for Corporate India
Ø Steel units want lifting of embargo on day movement of iron ore
Ø Reliance Jio brings Pokemon GO to India
Business Line
Mint
Ø Govt trying to implement GST from April 1: Rajnath
Ø Domestic shareholders pare, FIIs add, stake in NSE
Ø Delhi HC to hear pleas against demonetisation on Dec 22
Ø India is expected to outshine its EM peers, says Karvy wealth report
Ø JPC on land acquisition Bill gets eighth extension
Ø Wipro splits its India-Middle East business in two
Ø Start-up can forecast GDP by using satellite images of night lights
Ø Organic growth much cheaper than acquisitions: Shree Cement’s Hari Mohan Bangur
Ø 99% Indian households are covered by a bank account
Ø MS will soon release an AI translation app for Windows
Financial Express
Financial Chronicle
Ø US economic growth has picked up since the middle of the year: Janet Yellen
Ø Cabinet approves Major Port Authorities Bill, 2016
Ø Welspun to set up Rs 600cr flooring solutions plant in Gujarat
Ø PM Narendra Modi reviews note ban, discusses ways of digitisation
Ø Big petrol price hike on cards
Ø Green power gets payment security
Ø US envoy hails ties with India
Ø Life insurers see 42% premium growth
Ø Banks spared another liquidity rush
Ø S&P: Reserve Bank credibility hurt by demonetisation
*************************************************************
US FED policy meet Highlights:
• Raises key rate by 0.25% to new midrange of 0.50-0.75% (median 62.5)
• Second rate hike since 2008 financial crisis. Vote 10-0 in favor of hike
• Anticipate 3 hikes in 2017(up from 2 in sept),2018 & 2019
• median range of FED rate increased by 0.25% over next 3 yrs (1.4 median rate for 2017)
• change in fiscal policy could change outlook
• near term risks to eco roughly balanced
• continues to expect gradual rate hikes. Policy remains accommodative
• Eco activity expanding at moderate pace and will cont to perform well
• inflation has increased and moving to tgt 2%
• sees slightly higher GDP in 2016,17&19 & unchanged in 2018
• Jobs gain solid in recent months with labor mkt cont to strengthen
Sgx Nifty -29 pts
Dow -118.68 pts ,Nsdq -27.16 pts , S&P -18.44 pts , Bovespa -1070 pts , Ftse -19 pts , Dax -39 pts , Cac -34 pts , Nikkei +45 pts now , Crude @ $50.86 brl (-0.18 ), Brent @ $53.90 brl (-1.82) , Gold @ $1144.40 (-19.40), Silver @ $16.88 (-0.34), Euro @ $1.0514, JPY @ $117.1300, INR @ $67.4450
Today's Corporate Action
15th Dec Ex Date
ALANKIT
Stock Split From Rs.2/- to Rs.1/-
COLPAL
Interim Dividend - Rs. - 3.0000
ONGC
Bonus issue 1:2
VISHALBL
Bonus issue 1:4
Today's Key Result
15th Dec
Istreet Network, J&K Bank,Saboo Sodium
************************************************
Economic Times
Business Standard
Ø Fed raises rates for 2nd time since Great Recession
Ø Back-dated FDs may be behind huge deposits by co-operative banks: Taxmen
Ø India Inc's overseas investment plunges 71% in Nov
Ø NTPC to replace 25 year old power plants in 5 years
Ø NSE to file DRHP for IPO by Dec 20: chairman
Ø CBDT warns of penal action if I-T returns are 'drastically' changed
Ø V K Sharma appointed LIC chief for 5 years
Ø Mistry claims 78% retail investors opposed his removal
Ø RBI unwilling to cede control over payments regulations
Ø Trump appoints PepsiCo CEO Indra Nooyi to strategic, policy forum
Ø CDSL to file IPO documents this month
Ø DoT issues demand-cum-show notices to six telcos for Rs 29k cr
Ø Commodity blow for Corporate India
Ø Steel units want lifting of embargo on day movement of iron ore
Ø Reliance Jio brings Pokemon GO to India
Business Line
Mint
Ø Govt trying to implement GST from April 1: Rajnath
Ø Domestic shareholders pare, FIIs add, stake in NSE
Ø Delhi HC to hear pleas against demonetisation on Dec 22
Ø India is expected to outshine its EM peers, says Karvy wealth report
Ø JPC on land acquisition Bill gets eighth extension
Ø Wipro splits its India-Middle East business in two
Ø Start-up can forecast GDP by using satellite images of night lights
Ø Organic growth much cheaper than acquisitions: Shree Cement’s Hari Mohan Bangur
Ø 99% Indian households are covered by a bank account
Ø MS will soon release an AI translation app for Windows
Financial Express
Financial Chronicle
Ø US economic growth has picked up since the middle of the year: Janet Yellen
Ø Cabinet approves Major Port Authorities Bill, 2016
Ø Welspun to set up Rs 600cr flooring solutions plant in Gujarat
Ø PM Narendra Modi reviews note ban, discusses ways of digitisation
Ø Big petrol price hike on cards
Ø Green power gets payment security
Ø US envoy hails ties with India
Ø Life insurers see 42% premium growth
Ø Banks spared another liquidity rush
Ø S&P: Reserve Bank credibility hurt by demonetisation
*************************************************************
US FED policy meet Highlights:
• Raises key rate by 0.25% to new midrange of 0.50-0.75% (median 62.5)
• Second rate hike since 2008 financial crisis. Vote 10-0 in favor of hike
• Anticipate 3 hikes in 2017(up from 2 in sept),2018 & 2019
• median range of FED rate increased by 0.25% over next 3 yrs (1.4 median rate for 2017)
• change in fiscal policy could change outlook
• near term risks to eco roughly balanced
• continues to expect gradual rate hikes. Policy remains accommodative
• Eco activity expanding at moderate pace and will cont to perform well
• inflation has increased and moving to tgt 2%
• sees slightly higher GDP in 2016,17&19 & unchanged in 2018
• Jobs gain solid in recent months with labor mkt cont to strengthen
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