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You are here : IndiaNotes >> Market Action >> Fundamental

Weekly News: India's fiscal deficit reached 4.11 trillion rupees during April-October

SMC | 08 Dec, 2015  | Follow Author | Add to my Favourites 
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Economy


- India's fiscal deficit reached 4.11 trillion rupees ($61.67 billion) during April-October or 74% of the full-year target. The deficit was 89.6% of the full-year target during the same period a year ago.


- The Reserve Bank of India held its repo rate steady at 6.75%, having cut the policy rate by as much as 75 basis points in three tranches earlier this year. Repo, or repurchase, is the rate at which the central bank lends money to commercial banks.


- The Reserve Bank of India (RBI) kept its key repo lending rate unchanged at 6.75 percent, as widely expected, after consumer inflation picked up to a four-month high.


Mining


- Coal India's mining project in Maharashtra with a production capacity of 3.25 million tonnes per year will be commissioned by the month-end, as the PSU targets one billion tonnes of production by 2020. Pharmaceutical


- Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Dexamethasone Sodium Phosphate Injection USP, 4 mg/mL (1 mL, 5 mL and 30 mL vials). This product is expected to be launched by Q4 FY2015-16.


- Jubilant Life Sciences has received Abbreviated New Drug Application (ANDA) final approval from the US Food and Drug Administration (US FDA) for Paroxetine Tablets USP, 10 mg, 20 mg, 30 mg and 40 mg, the generic version of Paxil Tablets, 10 mg, 20 mg, 30 mg, and 40 mg® (of Apotex), which is used as an antidepressant.


Tyres


- CEAT and Italian tyremaker, Pirelli announced their exclusive partnership for distribution of Pirelli's global range of premieum motorcycle tyres in the Indian market. This sole partnership will leverage CEAT's vast distribution and dealer network pan India. Riding on CEAT's everexpanding network, Pirelli will offer its entire gamut of motorcycle tyres.


Infrastructure


- IL&FS Engineering and Construction Company has bagged road projects worth Rs675 crore from Ministry of Road Transport and Highways (MoRTH). The project involves engineering, procurement, and construction (EPC) with a completion period of 36 months.


Information Technology


- Wipro has signed an agreement with Landesbank Baden-Wuerttemberg to acquire cellent AG for 73.5 million Euros. cellent AG serves the DACH market region of Germany, Austria and Switzerland with a team of more than 800 consultants, who will now become a part of Wipro.


Power


- CESC announced that a Memorandum of Understanding has been executed on 02 December 2015 with Silver Spring, a US based Company and a market leader in Smart Grid space across the globe, for exploring business opportunities in India in the same space.


- NHPC has been signed an Agreement between NHPC and Teesta Urja (A Govt, of Sikkim Enterprises) for providing Project Management Consultancy Services for the balance works of 1200MW Teesta Statge-lll H.E. project in Sikkim.


Media/ Entertainment


- Shemaroo Entertainment has joined hands with Videocon d2h to launch “d2h Darshan” - a 24 hr ad-free devotional service. d2h Darshan offers a wide variety of content like Temple Tourism, Jaaps, Mantras, Kathas, popular Bhajans, Holy Books etc that will serve as an ideal way to connect with your spiritual side on a daily basis. d2h Darshan can be subscribed at Rs30 per month from 1st Dec 2015.


Telecom


- Bharti Airtel announced the launch of a massive network transformation program – “Project Leap”. Aimed at perceptibly improving network quality and delivering the best customer experience, this strategic project will see an investment of Rs60,000 crore in the next 3 years.

 


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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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