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1. PGC NEWSLETTER 11TH AUG, 2014 1
PGC
NEWSLETTER
11TH
Aug 2014
THOUGHT OF THE DAY
“The most difficult thing is the decision to Act,
the rest is merely tenacity.”
SEBI/COMPANIES UPDATES
• Mukesh Ambani made his big entry into the media, entertainment and internet world
through his acquisition of Network18 Media Investments Ltd a few months earlier. Anil
Ambani has decided to go the other way.
• A company run by the billionaire Jindal family is close to finalising a deal to buy
insolvent Italian steelmaker Lucchini, Italy's Prime Minister Matteo Renzi said on
Sunday.
• In a first such tender for promoting the construction in this country of ships to carry
liquefied natural gas (LNG), GAIL India has called for bids. It wants applications from
companies holding a minimum 25 per cent equity for seven years in three such
operational vessels.
• Sun Pharmaceutical Industries, which is in the process of acquiring control of Ranbaxy
Laboratories from Daiichi Sankyo, will soon put its purchase to work through the
exclusive marketing opportunity offered by two drugs in the US.
• Days before the three founders of the Indiabulls group agreed on a split that was said to
be amicable, a shareholder-proposed resolutions aimed at removing promoters Rajiv
Rattan and Saurabh Mittal, along with three independent directors, from the board of
Indiabulls Housing Finance.
• The Central Bureau of Investigation (CBI) on Saturday began probing loans by IDBI
Bank to liquor baron Vijay Mallya’s Kingfisher Airlines.
• Larsen & Toubro (L&T) will strengthen its project management team and go in for
subcontracting instead of hiring local staff in the Persian Gulf, following a Rs 942-crore
pre-interest and tax loss in the hydrocarbon segment in the last quarter.
RBI / TAX LAW UPDATES
• The Reserve Bank of India (RBI) may issue a new set of liquidity-easing measures to
curb volatility in the overnight rates after seeking suggestions from market participants.
Historical Events on 11th August
• 1999 - Total solar eclipse in India-North -France (2m23s).
MARKET UPDATES
SENSEX
25,502.59 173.45
CNX NIFTY
7,614.05 45.50
DOLLAR/ RUPEE
61.1 - 0.06
MCX SILVER
43,425.0 - 0.36
MCX GOLD
28,537.0 - 64.0
MCX CRUDE OIL
5,999.0 0.25
Dow Jones Industrial
Average
16,554.0 186.0
Nasdaq Composite
4,371.0 36.0
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