The Nifty Futures rallied more than 5% in the second half of November. The markets were buoyed by the passage of the bill on multi-brand retail in the winter session of the parliament as well as the government's proposal to set up the NIB, which will monitor and advise ministries on expediting projects.
The markets look good at current levels as well as on declines around the 5,800-5,850 levels on the Nifty. The depreciation of the Indian rupee could be a cause of concern in the coming fortnight, says Dilip Bang, Nirmal Bang.
The Union Cabinet cleared the proposal to set up Cabinet Committee on Investment to expedite approvals to projects of Rs 1,000 crore or above, in an attempt to fire up the economy.
SP Tulsian, sptulsian.com advises traders to book profit in infra stocks.
The Union Cabinet deferred decision on setting up National Investment Board (NIB) as Prime Minister Manmohan Singh wanted more inter-ministerial discussions on the proposal.
The Cabinet will consider tomorrow a proposal for setting up of National Investment Board for quicker implementation of projects entailing investments in excess of Rs 1,000 crore.
Finance ministers P Chidambaram's proposition in Parliament to set up National Investment Board (NIB) that monitor and advise ministries on expediting projects entailing investments in excess of Rs 1,000 crore captivated market participants..
Government proposes to set up a National Investment Board (NIB) to monitor and advise ministries on expediting projects entailing investments in excess of Rs 1,000 crore, finance minister P Chidambaram said.
In an exclusive, CNBC-TV18's Aakansha Sethi, quoting sources, reports that a decision to replace the National Investment Board (NIB) with the Cabinet committee on investment, will be taken on December 6.
The proposal to set up the National Investment Board (NIB) for expediting clearance to large projects will come up for approval before the Cabinet in next 10 days, a top Finance Ministry official said.
India's boldest attempt in two decades to sweep away the remnants of the "License Raj" permit system that has crippled infrastructure development has fallen victim to the very scourge it was designed to defeat.
The government is likely to approve in the next two-three weeks, the proposal to set up National Investment Board (NIB) for fast-tracking clearance to large infrastructure projects, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
It seems the proposed single window clearance mechanism for infra projects- the National Investment Board could be a reality in the next 2-3 weeks.
Saurabh Mukherjea of Ambit Capital says the market will shift its focus back to reforms once the US elections are out of the way. He feels the expected action on proposed National Investment Board (NIB) is likely to revive confidence.
Stock-analyst SP Tulsian of sptulsian.com explains to CNBC-TV18 that the consensual expectation that the RBI may cut the CRR by 25bps. Tulsian adds that the infrastructure-sector stocks would remain soft till the National Investment Board is made a reality.
Concerned over delay in implementation of projects, Finance Minister P Chidambaram today suggested setting of a National Investment Board (NIB) under Prime Minister to accord speedy clearances to mega proposals.