Union Cabinet approves recommendations of 7th Pay Commission


The Union Cabinet on Wednesday has cleared the 7th Pay Commission report’s recommendations, which will impact close to 10 million babus – 4.7 million Central government employees and 5.2 million pensioners – across the country. While the government has agreed that the recommendations will be effective from Jan 1, 2016 it is yet to clarify whether the arrears would be paid in one instalment or more. Depending on how the arrears are paid, expect a splurge in spending driving up the sale of consumer durables in the period before the festive season. That could drive consumption and investment over the next few months, providing an impetus to the economy. It could also lead to increased production and possibly better profits for some industries.

The 23.55 per cent overall hike in salaries,  allowances and pension cleared by Cabinet today, will entail an additional burden of Rs 1.02 lakh crore or nearly 0.7 per cent of the GDP, to the exchequer. The entry level pay has been recommended to be raised to Rs 18,000 per month from current Rs 7,000 while the maximum pay, drawn by the Cabinet Secretary, has been fixed at Rs 2.5 lakh per month from current Rs 90,000. The secretaries’ panel may have recommended raising minimum entry level pay at Rs 23,500 a month and maximum salary of Rs 3.25 lakh.

Having said that, here below we provide in great detail 7th Pay Commission report Executive Summary submitted by the panel itself to the Centre on the basis of which final decisions were taken. Here is absolutely everything that you need to know without actually reading the report; check it out:

Minimum Pay: After considering all relevant factors and based on the Aykroyd formula the minimum pay in government is recommended to be set at Rs 18000 per month.

New Pay Structure: The present system of pay bands and grade pay has been dispensed with and a new pay matrix has been designed. The status of the employee, hitherto determined by grade pay, will now be determined by the level in the pay matrix. Separate pay matrices have been drawn up for civilians, defence personnel and for military nursing service. All existing levels have been subsumed in the new structure; no new levels have been introduced nor has any level been dispensed with.


Epic Research Media Coverage Update

Publication : The Economic Times
‪‎Sensex‬ turns choppy, ‪‎Nifty50‬ holds 8200 levels; GAIL, M&M gain 2% each

Get Full View here :- http://economictimes.indiatimes.com/markets/stocks/news/sensex-turns-choppy-nifty50-holds-8200-levels-gail-mm-gain-2-each/articleshow/52844420.cms


Publication : Hans India

Nifty may remain bullish with next resistance at 8250-8300

Source :- http://www.thehansindia.com/posts/index/Business/2016-06-20/Nifty-may-remain-bullish-with-next-resistance-at-8250-8300/236520


ITC, YES Bank among 10 stocks that technical experts are bullish on for next 15 days

Recommended By: Mustafa Nadeem, CEO, Epic Research

1. Kwality: Kwality is making a falling wedge pattern on the daily chart as it consolidates after a recent run up from 2 digit to 3 digits. The stock is finding a base support at Rs 107 odd levels with a 200 Days Moving Average as well at Rs 103 levels. The volume has started to dry up which is signalling that bulls may take charge anytime of the trend of the stock. We have seen a Doji pattern on Monday as it reversed from 200 Days moving average. All this confluence of level makes it imminent for target of Rs 125 in short term with a low risk of Rs 100 as Stop Loss.

2. Inox Wind: Inox Wind is in overall price range of Rs 300 on upside to Rs 210 on downside the stock on current levels is in oversold territory while we have seen “Harami Pattern” being formed which is a bullish reversal signal. The candle displays the bulls have started taking entry at lower levels while risk reward is also attractive at current levels. The stock can target Rs 260 from here while Stop Loss comes at Rs 211.

3. PC Jeweller: PC Jeweller is a swing pay with stock a price reversal zone resisted by upward resistance line at Rs 370.

4. Eros International: Eros is a bottom reversal play with stock making a base formation at Rs 180- 190 odd levels . The stock after a downward is now likely to resume in a positive momentum on the back of lower levels buying. What’s important on chart is at lower levels we have witnessed contraction of 55 and 100 days moving average positive crossover indicating a bullish signal. We have set price target of Rs 223 with Stop Loss at Rs 175.

5. Emami: The stock is in overall positive momentum making higher tops and higher bottoms on the daily chart with price pattern indicating broadening highs. Firstly, the stock on Monday made a bullish reversal pattern with better volumes. Secondly, we have positive crossover of 55 days and 100 days moving averages generating a buy signal at current levels with small risk. Last but not the least, it is supported by lower support trendline which is acting as support since early 2016 comes at Rs 1010. All this confluence level indicates buy towards target of Rs 1,230 with stop loss of Rs 987.


Publication : The Financial Express – http://www.financialexpress.com/article/markets/indian-markets/itc-yes-bank-among-10-stocks-that-technical-experts-are-bullish-on-for-next-15-days-june-1-june-15-2016/269842/

Publication : Yahoofinance.com – https://in.finance.yahoo.com/news/itc-yes-bank-among-10-075500568.html

Publication : Hunt News – http://huntnews.in/p/detail/950099782222387?uc_param_str=dnfrpfbivesscpgimibtbmntnijblauputoggdnw&pos=1464681305338&channel=economics&chncat=category_english

Publication : Wealth Builder – http://www.wealthbuilder.co.in/news/market-news/item/4910-itc-yes-bank-among-10-stocks-that-technical-experts-are-bullish-on-for-next-15-days

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