One in three BSE 100 firms falls short in CSR spending At least 33 companies, or one-third of firms on the S&P BSE 100 list, have fallen short of the required corporate social responsibility (CSR) spending as mandated by the Companies Act. The Ministry of Corporate Affairs (MCA) is sending out notices seeking details of how and on what CSR funds are being disbursed, say people familiar with the issue, adding officials want to check if corporate social work is actually happening. READ MORE GTL, GTL Infra tank upto 20% as company cuts outlook on Aircel insolvency Shares of GTL and GTL Infrastructure have tanked up to 20% on the BSE after the Global Group firms warned that its operations will be hit with the shutdown of multiple telecom players and filing of bankruptcy petition by Aircel early this month. READ MORE Bank stocks head south COMPANY LATEST() CHG() CHG(%) VOLUME IDBI BANK 73.60 -1.25 -1.67 4245934 PUNJAB NATL.BANK 96.40 -0.30 -0.31 1263621 CENTRAL BANK 68.65 -1.05 -1.51 1091028 ST BK OF INDIA 252.90 -3.85 -1.50 503299 SOUTH IND.BANK 24.65 -0.50 -1.99 454272 MARKET COMMENT from DBS Bank Worries about trade protectionism is likely to impact sentiment in the short term. To be sure, the market is probably relieved that the tariffs are not as harsh as initially mooted. Canada and Mexico are exempted and there is room for other economies to negotiate. Equity markets have generally taken a sanguine view, grinding higher over the past week. Yields have also stayed buoyant. However, it is unclear if China or the Eurozone will be satisfied with this arrangement. Retaliatory tariffs leading to another round of trade tensions is a key downside risk.    The upshot is that developed market bonds are still in consolidation mode. However, yields are in an uneasy range with implied volatility in USD rates significantly higher compared to EUR or JPY rates. We reiterate that 10Y UST yields at 3% is just about neutral for current economic conditions. Rangebound trading is likely until a clearer inflation trend is formed or if the Fed changes its guidance.   SECTOR RESEARCH - Auto Sector – Commercial Vehicles M&HCV goods carrier sales in domestic markets have surged 17.3% yoy during April 2017 -January 2018. We expect the momentum to sustain over the next couple of years led by 1) pickup in mining & construction activity, 2) regulatory thrust in the form of overloading norms and GST rollout, 3) BS IV to BS VI emission norm revision, and, 4) scrappage policy implementation. Overall, we expect domestic M&HCV goods carrier demand to grow 8-10% in FY19 and upwards of 15% in FY20. The shift to multi-axle vehicles is already driving realisations for CV manufacturers, and, content per vehicle for auto component manufacturers. In our reckoning, listed players Ashok Leyland, Tata Motors (Standalone), Bharat Forge, MM Forgings, Jamna Auto, Gabriel India, Setco Automotive and Wabco India would be the key beneficiaries of the positive trends. (Source: IIFL) Market Check   S&P BSE Sensex 33,405.25 0.16%   Nifty 50 10,264.15 0.21%   S&P BSE 200 4,475.39 0.18%   Nifty 500 9,015.90 0.17%   S&P BSE Mid-Cap 16,041.00 -0.02%   S&P BSE Small-Cap 17,381.29 0.14%