PM Modi’s ‘Make in India’ Pitch Ahead of US Visit; Top CEOs Present

Sharemasterindia.com: India Inc is present in much strength at Delhi’s Vigyan Bhawan where Prime Minister Narendra Modi will make his ambitious “Make in India” pitch today, with an aim to turn the country into a global manufacturing hub.
Leading industrialists like Mukesh Ambani of Reliance Industries, Cyrus Mistry, Chairman of Tata Group, Azim Premji, Chairman, Wipro, Kumar Mangalam Birla who heads the Aditya Birla Group and Chanda Kochar of ICICI Bank are in the audience.
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Petrobras, ONGC Find Gas in Brazil Offshore Extension Well

Sharemasterindia.com: Brazil’s state-run oil company Petroleo Brasileiro SA discovered natural gas in a well being drilled to help measure the potential of a giant Brazilian offshore find, the company said in a securities filing on Wednesday.
Petrobras, as the company is known, owns 75 per cent and its Indian partner Oil and Natural Gas Corp 25 per cent of the discovery.
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CCI Order Clears Road for Generic Car Parts Market

New Delhi(Sharemasterindia.com): Thousands of tiny shops in India’s biggest auto components market do brisk business selling a bewildering array of spare parts for about a third of the official price charged by the likes of Toyota Motor Co or Volkswagen AG.
Generic parts sold by traders in places like old Delhi’s Kashmere Gate market account for about a sixth of India’s $6.6 billion after-sales components sector, IHS Automotive estimates, but a recent move by regulators could boost that share.
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ISRO’s Mars Mission: Centum Electronics Shares Surge Over 200% Since Launch

Sharemasterindia.com: The share prices of some component suppliers to India’s mission to Mars have surged sharply since the spacecraft to the red planet was launched on November 5.
Today, the Indian Space Research Organisation’s (ISRO) Mars Orbiter Mission successfully entered the red planet’s orbit. A successful landing could further boost shares in companies, traders said.
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Supreme Court cancels 214 illegal coal blocks, gives companies six months to comply

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In a landmark decision, the Supreme Court on Wednesday scrapped 214 of the coal blocks allocated between 1993 and 2010, sparing only 4. The 4 coal blocks that were spared are government-run, non joint ventures. Two of the exempted coal blocks are in Madhya Pradesh and two in Jharkhand. The apex court gave “six months” breathing time to the coal blocks that are already operational.
The 42 blocks  would till  then be managed by Coal India .The companies running these blocks also have to compensate the govt by paying Rs. 295 per metric tonne.
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Suzlon Shares Crash 30% in Four Days

PSharemasterindia.com: Shares in wind turbine manufacturer Suzlon Energy fell to their maximum daily limit for the fourth consecutive day in a row, down 4.83 per cent at rupee“>Rs. 15.75 on NSE. Further as of 11.55 a.m. there were pending sell orders for 13.66 crore shares on NSE.

Including today’s fall, shares of India’s largest wind power company have fallen over 30 per cent in last four trading sessions after fresh equity shares following the conversion of the company’s foreign currency convertible bonds (FCCBs) began to trade from Friday, September 19, 2014.
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RBI Seen Holding Rates Until Q2 of 2015, Then Ease: Reuters Poll

Sharemasterindia.com: The Reserve Bank of India will probably wait until the second quarter of next year to loosen policy as it wants to cool inflation before trying to spur growth, a Reuters poll found ahead of a policy review meeting next week.
All but three of 46 economists surveyed over the past week said the bank would leave its key repo rate unchanged at 8.0 per cent when it meets on September 30.
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