1. PGC NEWSLETTER18th March 2014 1
PGC
NEWSLETTER
18th March 2014
THOUGHT OF THE DAY
“We become what we think about”
ECONOMICS NEWS
• The upstream regulator, Directorate General of Hydrocarbon
(DGH) has backed Oil and Natural Gas Corp (ONGC)’s
demand for appointment of an international expert to assess
if Reliance Industries Ltd (RIL) was drawing out any of its gas
in the KG basin.
• India and China held their third round of the Strategic
Economic Dialogue here today focusing on collaboration in a
number of areas, including railways and Information
Technology.
CORPORATE LAW UPDATES
• Capital market regulator Sebi has identified investor
empowerment, capacity building and further strengthening of
enforcement and supervision actions as its core areas for
focus in 2014-15.
• Toyota Kirloskar Motor Private Limited (TKM) declared a
lockout at its plants on Sunday morning after talks over wage
negotiation between the management and workers' union
failed.
RBI / TAX LAW UPDATE
• RBI: The central bank's foreign exchange reserves in gold fell
15% in value between March and September last year, and the
yield on reserves fell 2 basis points amid low interest rates
across the developed world.
• IT : Where company had not incurred even a single penny to
achieve its objectives, i.e., charitable purpose, it was not
eligible to grant of registration under section 12A.
MARKET UPDATES
SENSEX
21,965.84 156.04
CNX NIFTY
6,553.00 48.80
DOLLAR/ RUPEE
60.94 -0.26
MCX SILVER
46280.00 -1.00
MCX GOLD
30,194.00 -181.00
MCX CRUDE OIL
5971.00 -0.12
Dow Jones Industrial
Average
16,247.22 181.55
Nasdaq Composite
4279.95 34.55