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F&O OUTLOOK: Indecisiveness spreads to stocks futures
The Nifty traded in the positive territory for most part of the day. The index made an intra-day high of 5,167 but closed at 5,103, indicating caution at higher levels. This means the 5,182 level has acted as a strong resistance for the last four days with crucial support remaining at 5,080. It is difficult to predict when the market will move out of the current trading band as indecisiveness has now spread to stocks futures — most traded Nifty components, such as Tata Steel, Reliance Industries, Unitech, DLF, Tata Motors and Suzlon Energy, closed in a Doji pattern today.

Reliance Petroleum posts Rs 105 cr profit in Q1
Mukesh Ambani-promoted Reliance Petroleum (RPL) today reported a net profit of Rs 105 crore for the first quarter ended June 30, 2009.

News of the day

Krackjack takes on 50-50
The oldest brand in the non-salt biscuits segment is fighting back to regain market share
Small Business

Better days ahead for MSME sector: industry surveys

Small is beautiful. So is a micro and medium business enterprise. - Orissa SMEs unhappy over state level banks' functioning - IDC likely to come out with design certification "I-Mark":Vyas - FDI in micro, small units subject to sectoral caps: Press Note - Govt sets up Task Force to look into MSME sector demands - Govt to release census report on MSME sector soon - Govt sees over 1 cr jobs being created this fiscal There are 26 million of them creating 60 million jobs and contributing 45 per cent to India"s industrial production. Their contribution to the country"s exports of $185 billion is 40 per cent. After a bad year due to demand recession in the west, things are changing for better, an industry outlook survey has found. As many as 56 per cent of MSMEs polled in a CII survey believed that their exports would rise in the second half of the current fiscal. However, "rising cost of raw material, international competition, price competitiveness and delay in payments" would be the limiting factors for their export growth, it said. Assocham felt these units can "emerge as the epicenter of increased economic activities from 2010 onward, provided the government sources 10 per cent of its requirement from the sector". It also wants easing of bank rates for MSMEs. "...Commercial banks need to relax interest rates for the MSMEs," Assocham said. A high level task force headed by Prime Minister"s Principal Secretary T K A Nair is finalising a report, which is believed to have recommended relaxation of banking norms for the MSMEs. The panel has also suggested that the Public Sector Units (PSUs) procure 20 per cent of their requirements from the micro, small and medium units. Exports, which constitute about 17-18 per cent of India"s Gross Domestic Product (GDP) have been facing difficult time since October, 2008 as recession had set in the US and Europe. Consignments from the country dropped 26 per cent between April-October period. Exporters, mostly in the small scale sector, suffered the most in terms of losing orders and financial crunch. However, the environment improved since November with exports returning into positive territory, showing over 18 per cent expansion.


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