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Source : https://www.businessinsider.in/The-...rates-on-December-16/articleshow/50046631.cms

The wait is over - The Fed will almost certainly raise interest rates on December 16

Fed chair Janet Yellen.
The wait is over: the Federal Reserve will almost certainly raise interest rates on December 16.

This would be the first Fed rate hike in over nine years and comes after what has been a tedious year for investors, who spent a inordinate amount of energy thinking about whether or not the Fed would increase its benchmark interest rate, which has been pegged at 0%-0.25% since December 2008.

The last time the Fed actually raised rates was June 2006, but after Friday's November jobs report met expectations and confirmed that even with tremendous gains over the last several years the US labor market continues to strengthen, the Fed has what it needs to begin the process of raising rates.

In an email following the report, Neil Dutta at Renaissance Macro said simply, "NO MORE EXCUSES."
"Instead of wasting time focusing on abstract concepts such as equilibrium interest rates and NAIRU, perhaps the Fed should just see what is happening in front of its face," Dutta wrote. "The message from November's jobs is clear, the US labor market is unambiguously strengthening."

Economists at BNP Paribas said that after Friday's report it's, "All systems go" for the Fed to raise rates in December.

Ian Shepherdson at Pantheon Macroeconomics said of the report, "More than enough to seal the deal for the 16th."

So there you have it.

Earlier this week, commentary from Fed chair Janet Yellen made it clear that barring a massive surprise on Friday, December would be the month for Fed action.

In a speech at the Economic Club of Washington, D.C., Yellen said that if the Fed waits too long to raise interest rates it risks needing to tighten financial conditions quickly at a later date. And given that the Fed has been clear it expects to raise interest rates slowly once it begins this process - which in Fedspeak in "normalizing" policy - this outcome would be particularly discouraging.

Here was the key passage from Yellen:

However, we must also take into account the well-documented lags in the effects of monetary policy. Were the FOMC to delay the start of policy normalization for too long, we would likely end up having to tighten policy relatively abruptly to keep the economy from significantly overshooting both of our goals. Such an abrupt tightening would risk disrupting financial markets and perhaps even inadvertently push the economy into recession. Moreover, holding the federal funds rate at its current level for too long could also encourage excessive risk-taking and thus undermine financial stability.

Speaking on Capitol Hill on Thursday, Yellen said that to continue absorbing the "slack" that remains in the labor market, the economy would need to add fewer than 100,000 jobs per month. At a rate of over 200,000, the current pace of job gains is, in Yellen's view, "quite a bit" above what's needed to see further progress in the labor market.

And looking only at the labor market, the Fed has met its goals and conditions are clearly in place to begin a Fed rate hike cycle.
Business Insider/Andy Kiersz, data from FRED

Inflation, however, remains below the Fed's stated 2% target - the latest data showed core PCE prices, the Fed's preferred inflation measure which excludes the volatile costs of food and gas, rose 1.3% in the third quarter - as it has for much of the last few years.
Following the Fed's September policy decision, Yellen reiterated that the Fed needs to be confident inflation will eventually return to its target in order to raise interest rates, even going so far as to say the Fed's credibility rests on meeting its inflation goal.

Prominent economic commentators, notably Nobel Laureate **** Krugman, have been vocal that the Fed needs to keep interest rates near 0% until inflation gets closer to the Fed's stated goal.

And the crux of this argument is that if the Fed gets too aggressive on raising interest rates and the economy tips back into recession after, say, a mere 0.5% interest rate hike, the Fed will be left with little wiggle room to stabilize the economy (which it typically does by cutting rates).

Said another way, the risks of raising rates too early are asymmetric and weighted to the downside: moving too early is far worse than waiting too long.

But throughout 2015 it's been clear, particularly in signals from Fed chair Yellen, that this is the year the Fed hoped to get off of 0%, an emergency policy setting that has been in place since the depths of the financial crisis.

And in comments on Thursday, Yellen said a rate hike would also be a day to commemorate the progress made by the economy after the worst recession since the Great Depression.

"When the Committee begins to normalize the stance of policy, doing so will be a testament, also, to how far our economy has come in recovering from the effects of the financial crisis and the Great Recession," Yellen said.

"In that sense, it is a day that I expect we all are looking forward to."

That day will be December 16, 2015.

 

Good News

Ashok Leyland resumes operations at its Ennore manufacturing plant near Chennai

The company has started its regular operations from December 07, 2015
Ashok Leyland has resumed regular operations at its Ennore manufacturing plant near Chennai after production activity was halted at the facility due to heavy rains. The company has started its regular operations from December 07, 2015. The company will be able to assess the insurance losses in due course, upon assessment done by the insurance company.

Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.
source : ventura

 

Seamec enters into contract worth $280,000 with Dulam International

The contract is for the charter hire of vessel ‘Seamec Princess’ for undertaking job in Persian Gulf
Seamec has entered into a contract for the charter hire of vessel ‘Seamec Princess’ with Dulam International, for undertaking job in Persian Gulf. The tenure of the contract would be around 10 days. The contract commenced on December 04, 2015. The value of charter would be around $280,000.

Seamec is engaged in the business of operating multi-support vessels for diving and for providing underwater/sub-sea engineering services, deep sea diving, and inspection of underwater structures, repairs and maintenance of offshore platform fire-fighting services and rescue operations.
source : ventura

 

Religare Enterprises exits its Life Insurance Joint Venture

The transaction was closed on December 07, 2015, following the receipt of all required regulatory approvals
Religare Enterprises (REL) has completed its exit from its Life Insurance Joint-Venture ‘AEGON Religare Life Insurance Company’. The transaction was closed on December 07, 2015, following the receipt of all required regulatory approvals. The company had earlier on May 12, 2015 entered into definite agreement for the same.

REL has sold its stake in Life Insurance JV to Bennett, Coleman & Company, a Times Group Company and a non-promoter group entity. The total consideration for this transaction is Rs 971.45 crore. For the year ended March 31, 2015, Life Insurance JV reported revenue of Rs 803.09 crore and its net worth as at that date was Rs 179.15 crore.

REL had 44% equity interest in Life Insurance JV and in line with the relevant Accounting Standards, 44% of the revenue and net worth is reflected in REL’s consolidated financials for FY 2014-15, translating to approximately 8.4% of consolidated revenue and approximately 2% of consolidated net worth of REL.

Religare Enterprises is one of India’s leading diversified financial services groups. It offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.
source : ventura

 

ITC’s arm acquires 87.06% stake of CIDL for Rs 11.38 crore

CIDL is engaged in the business of property maintenance & management
ITC’s step-down subsidiary - Greenacre Holdings (GHL) has acquired 87.06% of the equity share capital of Classic Infrastructure & Development (CIDL) at an aggregate consideration of Rs 11.38 crore. CIDL is an associate of Russell Credit (RCL).

GHL is a wholly owned subsidiary of RCL, which a wholly owned subsidiary of ITC. CIDL having become a wholly owned subsidiary of GHL and of RCL and it has also become a wholly owned subsidiary of ITC with effect from December 07, 2015.

CIDL is engaged in the business of property maintenance & management and its net-worth as on March 31, 2015 and Profit after Tax for the year ended on that date are Rs 8.44 crore and Rs 20.16 lakh, respectively.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
source : ventura

 

Talwalkars Better Value Fitness to raise Rs 25 crore

The company has received approval for allotment of 250 numbers - 10% Secured, Taxable, Redeemable, NCDs of Rs 10 lakh each
Talwalkars Better Value Fitness has received approval for allotment of 250 numbers - 10% Secured, Taxable, Redeemable, Non-Convertible Debentures (NCDs) of Rs 10 lakh each aggregating to Rs 25 crore. The board of directors at its meeting held on December 07, 2015 has approved for the same.

Talwalkars Better Value Fitness is one of the largest fitness chains in India offering a diverse suite of services including gyms, spas, aerobics and health counseling under the brand ‘Talwalkars’.
source : ventura

 

Jet Airways partners with ActionAid to provide relief to rain-hit Tamil Nadu

In the long-term, the partnership will focus on rehabilitation including recovery and development of livelihoods, reconstruction and repair of damaged houses of over 2000 people
Jet Airways India will partner with ActionAid India to reach out and rebuild the lives of flood affected communities in Chennai and Thiruvallur district in Tamil Nadu. The immediate joint efforts by Jet Airways and ActionAid will focus on providing food and essential items such as drinking water, health and sanitary kits, mosquito nets and repellents, clothing, utensils, sleeping mats, bed rolls, materials for temporary shelters, learning resources/stationary and in providing psycho-social support.

In the long-term, the partnership will focus on rehabilitation including recovery and development of livelihoods, reconstruction and repair of damaged houses of over 2000 people. It will also work towards providing vocational skills training and employment opportunities to women from these communities for them to rebuild their lives.

Jet Airways is India’s premiere international airline operating flights to 73 destinations, including 51 in India and 22 across the world. The company’s robust domestic network in India spans the length and breadth of the country covering metro cities, state capitals and emerging destinations
source : ventura

 

TCS BaNCS drives next generation banking services at IDFC Bank

The Core Banking solution equips IDFC Bank with a flexible, easy-to-scale system that will help it deliver a differentiated customer experience
IDFC Bank has gone operational with Tata Consultancy Services’ (TCS) BaNCS for Core Banking, thereby enabling next generation banking services that are more personalized, convenient and faster. The Core Banking solution equips IDFC Bank with a flexible, easy-to-scale system that will help it deliver a differentiated customer experience.

TCS was selected by IDFC Bank for its best-of-breed technology and established track record of having deployed more than 300 similar projects worldwide, including those at some of the worlds largest banks.

TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. The company offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.
source : ventura

 

source : https://www.indiatimes.com/news/wor...-4-crore-people-might-hit-us-soon-246354.html

'Imminent' Earthquakes That Would Divide Continents, Kill 4 Crore People Might Hit Us Soon



If the words of Dr. Keshe, a nuclear engineer, are to be believed, North and South America will 'split' and mega tsunamis "could strike America and Asia killing (as many as) 40 million (4 crore) people" in an earthquake he describes as 'imminent'.

This statement comes into light as millions of people across America and Canada took part in the 'Great Shake Out' where authorities of major cities in the two countries carry out a mock-drill of their emergency response if a major earthquake strikes the two nations.

Iranian-born nuclear engineer, Dr. Mehran Keshe claims that earthquakes around the world between 6 and 8.3 magnitudes are only the beginning of the mega quake that could hit us anytime between now, and next autumn. In a video that he released last month, Dr. Keshe said "the South American continent is the starting point of the weakness. There will be earthquakes of 10 to 16 here and in one location 20 to 24." He continues to say that up to 20 million people would perish along the west coast in North and South America, but the southern hemisphere continent would be worst affected as it split from the north.

Talking about other countries, he said "There will be a number of series of earthquakes in north China in coming months. Japan and China will have the same huge losses and there will be huge losses in the Caribbean.” He goes on, "The world economy will collapse. I hope it will not happen this way but this is what I know it is inevitable the continental break up is inevitable."

 

Nse CONCOR 1.26 lacs @ 1427 value 18.03 crs ( Bulk / Block Deals )

 

Infosys to expand operations in Ireland

The expansion will see Infosys create up to 95 roles at its first dedicated product-centric research and development (R&D) center outside India
Infosys, a global leader in consulting, technology, outsourcing and next-generation services, will expand its operations in Ireland, doubling the number of staff in the country to 500 in three years and setting up its first product-centric research and development centre outside India. This project has been supported by the Department of Jobs through IDA Ireland.

The expansion will see Infosys create up to 95 roles at its first dedicated product-centric research and development (R&D) center outside India, and open a second Irish facility to house up to 155 people who will provide IT services to Infosys clients. The highly skilled technology roles at the R&D facility, which will be established by EdgeVerve Systems, the product subsidiary of Infosys, will focus on FinTech research and development. The center will operate an open innovation model, working closely with customers, technology partners, academic institutions and the start-up community in areas of technology, such as blockchain and analytics.

Employees at the company’s new development center will provide technology services to its global and Ireland-based clients in the financial services industry. The work will include high-end IT consulting, business analytics, business processing and customer service. The new roles are in addition to more than 250 employees that are already working for Infosys in Ireland. This number includes the employees that have been transferred from AIB to the Infosys Booterstown facility in an announcement that was made in July 2015, and employees working onsite at client locations in Ireland.
source : ventura
Infosys is a global leader in consulting, technology and outsourcing solutions. The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.

 

Nse SRTRANSFIN 1.54 lacs @ 857.45 value 13.21 crs (Bulk / Block Deals )

 

Poddar Developers plans to raise Rs 600 crore

The company is expected to close the fund-raising in six months
Poddar Developers is planning to raise Rs 600 crore from private equity players for land acquisitions and project specific developments. The company is expected to close the fund-raising in six months. Earlier in January, the company had raised Rs 125 crore through qualified institutions placement (QIP) route. The company is looking to deliver about 1,500-2,000 flats this year and hope to increase this delivery rate by about 40-60 per cent in the next year.

Poddar Developers is an India-based real estate company. The Company’s projects include residential and commercial developments. The Company’s residential developments include Samruddhi Complex, Bhivpuri and Poddar Evergreens, Badlapur.
source : ventura

 

Rolta India decides not to extend the JV pact with Meprolight

The agreement stands lapsed as the condition precedent to the share subscription and shareholders agreement has not been fulfilled
Rolta India has decided not to extend the joint venture (JV) arrangement between the company and Meprolight (1990). The agreement stands lapsed as the condition precedent to the share subscription and shareholders agreement has not been fulfilled within the stipulated timeline.

Rolta India conducts business in India, and internationally through subsidiaries in various countries. Rolta is a leading provider of innovative IT solutions built around its intellectual property for many vertical segments, including Federal and State Governments, Defence, Homeland Security, Utilities, Process, Power, Financial Services, Manufacturing, Retail, and Healthcare.
source : ventura

 

Eicher Motors’ motorcycle division resumes production at plants near Chennai

The company has reported production loss of 11,200 units due to the rains
Eicher Motors’ motorcycle division Royal Enfield has resumed production at its Thiruvottiyur and Oragadam plants which were closed due to heavy rains and floods in and around Chennai. The company has reported production loss of 11,200 units due to the rains. Of that number, 7,200 units’ production loss occurred between December 1 and 6, 2015.

Eicher Motors is one of the leading manufacturers of commercial vehicle. It has manufacturing facilities located in Madhya Pradesh, Tamil Nadu, Maharashtra, and Haryana.
source : ventura

 

Chambal Fertilisers to raise $1 billion for its expansion plans

The company has appointed HDFC Bank and SBI Capital Markets as the lead managers to raise $500 million
Chambal Fertilisers & Chemicals is all set to raise $1 billion (Rs 6,673 crore) for its expansion plans. In this regard, the company has appointed HDFC Bank and SBI Capital Markets as the lead managers to raise $500 million (Rs 3,336 crore) via the external commercial borrowing (ECB) route.

At the board meeting held last month, the management had approved setting up of this new plan, which would require an investment of Rs 5,940 crore.

Chambal Fertilisers & Chemicals is one of the largest private sector fertilizer producers in India. It has three divisions catering agri products, shipping & textiles.
source : ventura

 

Praj to begin work on ethanol plant expansion in Argentina

For this 800 m3/day ethanol plant, Praj will employ efficient distillation and molecular sieve dehydration technology
IngenioTabacal, one of the largest sugar and ethanol producers in Argentina has selected Praj Industries for expansion of its existing alcohol and ethanol plant located in Salta province. Argentina has an ambitious ethanol blending program, with current mandate at 10%, which is likely to be increased in near future.

A professionally managed company, Tabacal is owned by Seaboard Corporation, USA. Tabacal invited bids from international suppliers for this project. After due evaluation of various technologies from Europe, Brazil etc, Praj was selected based on its solution of lowest energy consumption, experience in the region and execution capability.

For this 800 m3/day ethanol plant, Praj will employ efficient distillation and molecular sieve dehydration technology, using very low pressure exhaust steam to achieve 50-60% steam saving. Praj will also assist Tabacal in modernizing existing alcohol and ethanol production plant to bring the fermentation, distillation and vinasse treatment modules to achieve global benchmarks.

This plant will be one of the most efficient plants in Argentina's sugar belt. Earlier, Praj has commissioned a plant based on corn to ethanol in the Santa Fe province of Argentina for Vicentine SAIC. Praj has a significant market share in the Latin America. Recently, Praj commissioned one of the largest ethanol plants in Colombia for Riopaila Castilla with a capacity of 400 m3/day.

Praj Industries is a Process Engineering and Technology Company offering innovative end-to-end solutions for biofuels, brewery, industrial processes and water and wastewater treatment systems.
source : ventura

 

NHPC shuts-down Sewa-ll Power Station in Jammu & Kashmir

The shutdown is for attending annual maintenance of machines/MIVs for about 20 days
NHPC’s Sewa-ll Power Station (120 MW) in Jammu & Kashmir has been completely shut down for attending annual maintenance of machines/MIVs for about 20 days with effect from December 07, 2015.

NHPC is an Indian Hydro Power Generation company that was incorporated with an objective to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects.
source : ventura

 

Nse KANSAINER 1.30 lacs @ 250 value 3.25 crs ( Bulk / Block Deals )

 

Wockhardt receives QIDP status for its new drug WCK 5222 from USFDA

This is the fourth product from the company to receive this coveted status
Wockhardt has received Qualified Infectious Disease Product (QIDP) status for its new drug WCK 5222,a product from its breakthrough New Drug Discovery program in Anti Infectives from the US Food and Drug Administration (FDA). This is the fourth product from the company to receive this coveted status. During last year, the company has received approval for WCK 771 & WCK 2349 and in early this year approval was received for WCK 4873. The only company globally to receive QIDP status for 4 drugs from US FDA.

Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.
source: ventura