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  Import Curbs on Non-Essential Goods may be Declared this Week  
  India is likely to unveil steps to curb imports of several non-essential items such as steel, furniture, electronic items and consumer durables this week. Food items such as nuts and fruits could also be on the list. The government has identified restrictions on non-essential imports as one of the ways in which to rein in the current account deficit and reduce pressure on the rupee.  
 
  Backing Import Restrictions at WTO a Tall Order: Experts  
  India will need to substantiate reasons for the measures it takes to restrict imports of certain products at the World Trade Organization (WTO), experts have said. New Delhi has the option of invoking the clauses that relate to protecting national security, public morals or safeguarding human, animal and plant life or health, and conservation of exhaustible natural resources to stop some imports.  
 
  Nifty Earnings Get Boost From Re Fall  
  The sliding rupee singed India’s equity indices over the past few days. But what went unnoticed is that stocks had become cheaper due to their projected earnings gains in rupees — by at least 2.5% for the Nifty members. For every one percent slide in the local unit against the dollar, the combined earnings of the index constituents rise by about 60 basis points. With the previous Nifty earnings estimates pegged at 68 to the dollar, the gains could be touching 3% as the rupee heads toward 73.  
 
  Rise in Ethanol Price Likely to Give Select Players a Sugar Rush  
  Sugar has tasted sweeter after New Delhi announced an increase in ethanol prices. Stocks have been hitting the upper circuit since the announcement, and momentum reversal for the sweeteners is unlikely. If government support to the industry continues, stocks could also see a re-rating. Incentivisation of ethanol production could turn the highly cyclical industry to almost non-cyclical.  
 
  Get NRI Dollars, Hold Rates in October  
  There is a simple reason why all the king’s horses and all the king’s men could not put the rupee back together again. Currency traders who are bearish on the rupee could immediately sense that the grand plan unveiled last week would neither create an instant supply of dollars nor dramatically lower the demand for the greenback. Besides, some of the measures proposed on Friday were contrary to what the central bank has been repeatedly advising banks and companies.  
 
  Aditya Birla SunLife Equity Fund (G)  
  The next one year is expected to be one of the most volatile periods in the stock markets because of several macro-economic factors such as falling rupee, high crude and widening current account deficit, and the uncertainty over the outcome of the Lok Sabha elections. In such a situation, it makes sense for mutual fund investors to be with multi-cap schemes that invest in companies across market caps, which helps them generate alpha. One such multi-cap scheme is Aditya Birla Sun Life Equity Fund — one of the oldest schemes in the industry.