Rahul Batla,Senior editor,Delhi,www.macbaba.com
Finance Minister Arun Jaitley has said that rioter steps needed to be taken to boost manufacturing in the country. “Manufacturing is where the jobs are,” Jaitley said at a public event, totaling the sector had the dormant to nurture at 13-14 percent. He said the entry point into manufacturing had to be relieved to be able to initiate more jobs. Referring to RBI Governor remark that the Make in India campaign should be battered more towards domestic insistence and not so much the export market,“Whether Make in India is made for cnsumers within India or consumers outside, is not so relevant.
The principle today is that consumers across the world like to buy vendibles that are cheaper and of good quality.” the growth in FY16 would be better than that in this fiscal. Don’t miss: Spice progress hits 20% upper circuit on delisting plan Equity benchmarks continued to see buying interest with the Sensex rising 183.65 points to 27425.43 and the Nifty climbing 55.40 points to 8256.10.
The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices gaining 0.8 percent. More than three shares advanced for every share declining on the Bombay Stock Exchange. Sesa Sterlite topped the buying list, up 3 percent watched by Tata Motors, ONGC, Bharti Airtel, Hindalco Industries and GAIL with 1-2 percent gains.
Tata Steel rose 1.4 percent after the steel maker evoked mining operations in 4 Odisha mines on December 15. Engineering and construction major L&T advanced nearly a percent after its subsidiary L&T Hydrocarbon Engineering received order worth Rs 894 crore from ONGC. In the broader space, RPP Infra extrinsic more than 3 percent on bagging Rs 48 crore order from TN Water Supply & Drainage Board.