Market
may open higher on firm Asian stocks
DATE: 21/09/2012
The market may open higher on firm Asian stocks. Trading of S&P CNX
Nifty futures on the Singapore stock exchange indicates that the Nifty could
gain 22.50 points at the opening bell. Asian shares steadied on Friday as
markets consolidated after recent sharp moves triggered by central banks'
stimulus steps, with weak data giving no clear signs about the likelihood of
another steep downturn in growth or a solid pickup.
The government is reportedly readying to step up the gas on economic
reforms, shrugging off the imminent withdrawal of Mamata Banerjee-led Trinamool
Congress that will reduce the ruling coalition at the Centre to a minority.
Prime Minister Manmohan Singhis expected to underscore the return to muscular
governance when he addresses the nation on Friday to explain the economic
rationale behind the government's decisions to hike fuel prices and allow
foreign supermarkets into the country. So sure is the government of surviving
after the Trinamool Congress' six central ministers tender their resignations
on Friday that on Thursday evening, it operationalised its recent decision to
allow foreign direct investment in the multi-brand retail and aviation sectors.
The notification for operationalising the Cabinet's decision of September
14 came on a day the Opposition, ally DMK and Samajwadi Party staged nationwide
protests against the FDI decision.
Among the key decisions in the offing, the Cabinet, at its meeting on
Tuesday, is likely to prune the subsidy on sugar made available to
below-poverty-line consumers under the public distribution system.Besides, the
government is set to ease FDI norms for a few other sectors, including
pharmaceuticals. The government will also fast-track the land acquisition bill.
The Government Thursday notified the cabinet decisions on FDI in single
brand retail, multi brand retail, civil aviation, broadcasting sector and power
exchanges. The decisions were taken in the Cabinet and CCEA meetings on
September 14, 2012.
The government last week announced liberalization of foreign investment
rules in retail, aviation and broadcasting sectors. While the government has
allowed up to 51% foreign direct investment (FDI) in multi-brand retail trading
(MBRT), in the aviation sector the government has allowed foreign airlines to
acquire up to 49% stake in Indian carriers.
Zee Entertainment Enterprises - India's leading media conglomerate, on
Thursday took yet another step in strengthening its dominant position in the
regional genre, by launching India's one and only 24-hour Bangla Movie Channel
-'Zee Bangla Cinema'. With a rich and varied film library, the Zee Bangla
Cinema promises to offer a mixed bag of blockbusters from the golden era
directors and the best masterpieces of Satyajit Ray, Mrinal Sen, Ritwick
Ghatak, Tarun Mazumdar to the present movies of directors like Rituparno Ghosh,
Raj Chakraborty and Anjan Dutta. The channel will go on-air on September 23rd
and will telecast 2012's blockbuster movie 'Shatru' starring Jeet and Nusrot.
Some of the other leading movie titles which would be aired on Zee Bangla
Cinema are Bhooter Bhobishyot, Teen Yaari Kotha, Elar Char Adhygy, Apamjita
Tumi, Ajob Prem Ebong, Dutta vs Dutto, Uro Chiti, Fighter, Mouchak, Chaplin,
Kagojer Bou, Tokhon Teish, Trishna, Chander Bari, Gorosthane Sabdhan,
Patalghar, Banshiwala and many more.
Speaking on the launch of the movie channel, Punit Goenka, MD & CEO,
Zee Entertainment Enterprises (ZEE) sajd, "With o strong Bengali audience
in India and abroad, the Bangla Film market has expanded exponentially. Zee
Banglo Cinerno's entry is to tap this growing potential. We are sure that ZEE's
pioneering presence in the regional space would be further strengthened with
the addition of this new movie channel.
Glenmark Generics USA, the United States subsidiary of Glenmark Generics
announced that the United States Food and Drug Administration (USFDA) has
granted tentative approval for Rizatriptan Benzoate tablets, its generic
version of Merck's Maxalt tablets.
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