สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 14 มีนาคม 2557
Crude oil futures up on firm overseas cues
Crude oil futures recovered by 0.12 per cent to rs 5,990 per barrel today as speculators created fresh positions on a firming trend in the Asian region. At the Multi Commodity Exchange, crude oil prices for delivery in March traded higher by Rs 7, or 0.12 per cent, at Rs 5,990 per barrel, with a business turnover of 979 lots. Crude oil prices for April also traded up by Rs 3, or 0.05 per cent, to Rs 6,005 per barrel, with a business volume of 198 lots. Market analysts said the rise in crude oil futures led to a rebound in Asian trade as investors took to bargain hunting after sharp falls induced by a bigger-than-expected rise in US crude stockpiles.
(Source: Economic Times)
SBI country’s first bank to set up payment gateway
E-commerce in India is set to get a big boost with the country's largest lender State Bank of India setting up its payment gateway - SBI ePay — with the objective of enrolling government entities and municipal corporations as well as small traders in the online marketplace. SBI is the first bank in India to start its own online aggregator services. Besides the payment gateway, which will enable merchants accept payment by net banking, credit card, debit card and mobile banking, SBIePay is also in the process rolling out an electronic bill presentment and payment platform (EBPP) and IVRS phone payment.
(Source: Times of India)
Steel import norms eased
Seeking to push infrastructure development, the government today relaxed the norms for import of steel and its products. As per the norms, an exporter needs to provide quality certification from the recognised quality certifying body of the country of origin of the product. Easing this norm, the Directorate General of Foreign Trade (DGFT) said now an exporter can provide such certificate from any international standard certifying body. "Now it shall be international standard certifying body," the DGFT said in a notification. Also Read: JSPL frontrunner for Stemcor's assets post revised bid India mainly imports the commodity from China, Japan, South Korea, the US and Europe. The imports are mostly flat products which find application in the automotive and fast-moving consumer durable sectors. According to a media report, the country's steel imports may go up by more than eight times to 50 million tonnes (MT) to make up for the anticipated 200 MT demand by 2020. The consumption of finished steel is a key indicator of the health of an economy. According to Joint Plant Committee (JPC), a body under the Steel Ministry, import of total finished steel declined by 28.3 percent year-on-year in April-November at 3.65 MT. India has been a net importer of steel since 2007-08. In the last fiscal, it imported 7.9 MT.
(Source: Money Control)
Govt to move Election Commission for permission to launch FDI in online retail
In what would be a big boost for the retail e-commerce (business2consumer) space in India, the government has decided to allow foreign direct investment (FDI) in the sector. Although the foreign investment may need the approval of the government, the likes of an Amazon or an eBay can now do business here using the inventory-based model. It is likely foreign companies will be allowed to own 100% of the Indian entity. The department of industrial policy and promotion (DIPP) had floated a discussion paper on January 7 detailing the pros and cons of allowing FDI in the sector where 100% FDI is already allowed in the business-to-business (B2B) e-commerce space. It had sought recommendations from various stakeholders by January 28. Currently, global B2C e-commerce firms like Amazon and eBay operate in India as online marketplaces. In this model, these companies do not own any inventory and do not sell any of their own merchandise to Indian shoppers.
(Source: Financial Express)
Experts bet on auto, capital goods and mining stocks for better returns
Sectoral funds that focus on defensive sectors like FMCG, technology and healthcare have consistently topped the performance charts in the last two, three and five years. However, their performance has started slipping in the recent past. "Recent performance of various sectors on bourses makes it clear that investors are moving out of defensives and getting into cyclical sectors," says Uday Dhoot, deputy CEO, International Money Matters, a Bangalore-based wealth management firm. According to market pundits, most of the investment is taking place on expectation of an economic recovery after the general elections. If the economic growth gathers momentum, profits from cyclical stocks may rise. It may reward shareholders with high dividends and capital gains. "Investors have to be specific in cyclical stocks. Automobiles, capital goods and mining companies with monopoly status look good in this space," says Vikas V Gupta, EVPtraded markets & investment research, Arthveda Fund Management. According to experts, automobile demand is likely to pick up in the next financial year and capital goods companies such as BHELBSE -1.59 % and ABB are expected to benefit from the increased capital expenditure in the economy. They also believe that Coal IndiaBSE -0.60 % is best placed to benefit from a revival in economic activity, as the demand from coal fired power station goes up.
(Source: Economic Times)
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