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A bull case for investing in gold

noreply@blogger.com (Anonymous) — Sat, 05 Jan 2019 04:46:00 +0000

Gold prices have touched a six-month high on account of changing structural dynamics

Just when everyone thought that investment in gold is unlikely to give positive returns the yellow metal has surprised by rising to a six-month high. Gold is trading near a key technical level of $1,300 per ounce in the international market.

Traditionally considered a safe haven, gold was ignored for most of 2018 despite a number of negative events affecting global markets. They key factor was a strong US dollar.

In 2018, the strength of the US dollar came from rising interest rates in the US. The year saw aggressive monetary tightening by the Federal Reserve. It was the first time that the Fed raised rates on four separate occasions during a calendar year. The hikes were in addition to liquidity tightening to the tune of $50 billion every month.

But by the end of 2018, it was clear that the interest rate hikes by the Federal Reserve were tapering off mainly on account of growth concerns. Fresh data accentuate these concerns. For instance, US treasury yields accelerated their decline on Thursday after a weaker-than-expected manufacturing index number from The Institute for Supply Management (ISM) for December. The index fell to 54.1 percent for December as against an expectation of 57 percent, and much lower than the 59.3 percent in November. A weakness in the index indicates a slowing economy.

On Thursday, the 10-year treasury yield plunged 10.2 basis points to 2.557 percent, its lowest since January 16, 2018, to mark its biggest one-day decline since May.

Goldmoney, a world leader in precious money investment services in its December 2018 Gold outlook said, “The world is awash with dollars at a time when markets act as if there is a shortage. When the truth emerges, the dollar has the potential to fall substantially against other currencies, leading to a rise in the price of gold.”

Further, the ongoing trade war between the US and China has now reached the US shores. Earlier China was taking the blows on account of the restrictions imposed by the US but now Chinese consumers have hit back. A surprising warning from Apple about slowing sales, especially in China, has delivered the message home to US President Donald Trump about slowing growth.

Building a case for gold investment, Goldmoney’s head of research Alasdair Macleod said that the great dollar unwind is now the overhang on markets. The move towards gold and against the dollar in Asia accelerated in end-2018, with Russia having replaced the dollar with gold as its principal reserve currency. Further, China has laid the foundation with an oil-yuan futures contract, which can be a bridge to yuan-gold contracts in both Hong Kong and Dubai. This is a direct challenge to the dollar as a reserve currency, Macleod noted.

Finally, gold prices are also reacting to the increased demand for the precious metal from various quarters. 2019 is expected to see a balancing of gold supply and demand. Central banks are accumulating bullion; they added 425 tonnes in the year to September 2018.

Moreover, the Chinese private sector continues to hoard gold as seen in the withdrawals from the Shanghai Gold Exchange. India’s total gold imports are not showing any signs of slowing and were at 919 tonnes in the year to September, according to the World Gold Council. These three sources of demand alone add up to 3,344 tonnes annually, which is the same as global mine supply. If you add supply restriction like those imposed by China on exporting gold, then there is a solid bull case for gold as an investment vehicle in 2019.

Source: https://www. moneycontrol.com/news/business/markets/quick-take-a-bull-case-for-investing-in-gold-3354481.html

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For Warren Buffett, sinking Apple shares a wish come true

noreply@blogger.com (Anonymous) — Thu, 03 Jan 2019 06:30:00 +0000

Buffett sees Apple more as a consumer stock than a tech stock, reflecting the iPhone's status as a must-have possession for so many people.

Billionaire Warren Buffett has said he would love to see Apple Inc shares decline in price so he could buy more. He is getting his wish.

Apple's warning on Wednesday about weak iPhone demand in the holiday quarter due to slower sales in China sent its stock down 7.5 percent during after-hours trading. Class B shares of Buffett's Berkshire Hathaway Inc traded down 2 percent in the same session on Wall Street.

Buffett, the folksy Nebraska investor known more for buying railroads, energy firms and classic American corporate brands than for his acumen picking tech stocks, in recent years has lamented missing the boat on buying shares in US technology giants. He admitted an earlier investment in IBM Corp was not one of his best.

Yet Buffett has made Apple a centerpiece of his portfolio of other company's stocks, touting his own use of the Cupertino, California-based company's products and saying at his annual shareholders' meeting in Omaha last May, "We would love to see Apple go down in price," so he could buy more at a bargain.

Buffett sees Apple more as a consumer stock than a tech stock, reflecting the iPhone's status as a must-have possession for so many people.

Including its after-hours drop on Wednesday, Apple's stock market value has tumbled to below $700 billion from over $1.1 trillion at its peak in October. Although Apple has fallen behind Amazon.com Inc and Microsoft Corp in value, it remains one of Wall Street's most widely held companies.

Shares of Berkshire itself have held up well even as the broader market sank last quarter. Last year, Berkshire returned 2.8 percent, while the S&P 500 fell 4.4 percent, including reinvested dividends.

But the $3 billion hit to Berkshire's Apple shares in evening trading on Wednesday could show in future reported earnings. Those figures do not reflect any long-term gains on Berkshire's investments, and Buffett has encouraged investors to ignore the profit statistic mandated by US accounting practices.

Source: https://www .moneycontrol.com/news/business/for-warren-buffett-sinking-apple-shares-a-wish-come-true-3349221.html

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Eicher Motors falls 5% on weak December motor cycle sales; Motilal Oswal maintains buy

noreply@blogger.com (Anonymous) — Wed, 02 Jan 2019 05:29:00 +0000

The company's December total motor cycles sales were down 13 percent at 58,278 units against 66,968 units, YoY.

Shares of Eicher Motors slipped 5.6 percent intraday Wednesday after company reported weak motor cycle numbers for the month December 2018.

The company's December total motor cycles sales were down 13 percent at 58,278 units against 66,968 units, YoY.

Meanwhile, its CV sales for the month was up 2.4 percent at 6,236 units versus 6,087 units. Its exports went up 41 percent at 2,252 units against 1,601 units, YoY.

According to Motilal Oswal Royal Enfield is a big disappointment; lower Royal Enfield volume estimates for the current and the next financial year by 46,000 and 89,000 respectively.

It cuts EPS estimates by 6 percent and 9 percent for the current and the next financial year respectively.

Meanwhile brokerage house maintained buy call on share with target of Rs 24,760 per share.

According to Morgan Stanley, auto sales end the year on a weak note. Year-end inventory clearance & weak consumer sentiment lead to another month of muted volumes.

It prefers OEMs that have support ahead from model launches like Maruti Suzuki, M&M & Eicher Motors.

At 09:35 hrs Eicher Motors was quoting at Rs 22,000, down Rs 1,184.05, or 5.11 percent on the BSE.

Source: https://www .moneycontrol.com/news/business/stocks/eicher-motors-falls-5-on-weak-december-motor-cycle-sales-motilal-oswal-maintains-buy-3344761.html

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Banks recover Rs 40,400 crore from defaulters: RBI report

noreply@blogger.com (Anonymous) — Mon, 31 Dec 2018 04:05:00 +0000

The various channels through which lenders recovered their bad loans include the Insolvency and Bankruptcy Code (IBC), SARFAESI Act, debt recovery tribunals (DRTs) and Lok Adalats.

Banks have seen a significant improvement in recovery of stressed assets helped by the Insolvency and Bankruptcy Code (IBC) and amendments in the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, during FY18, according to the RBI data.

In the fiscal ended March 2018, banks recovered Rs 40,400 crore worth of bad loans as against Rs 38,500 crore recovered in FY17.

The various channels through which lenders recovered their bad loans include the Insolvency and Bankruptcy Code (IBC), SARFAESI Act, debt recovery tribunals (DRTs) and Lok Adalats.

While banks recovered Rs 4,900 crore of bad loans through the IBC, the amount recovered through SARFAESI was Rs 26,500 crore in FY18, the RBI said in its annual report on Trends and Progress of Banking in 2017-18, released to over the weekend. "Apart from vigorous efforts by banks for speedier recovery, amending the SARFAESI Act to bring in a provision of three months' imprisonment in case the borrower does not provide asset details and for the lender to get possession of the mortgaged property within 30 days, may have contributed to better recovery," the report highlighted.

During the year, recovery through Lok Adalats and DRTs declined alongside the number of cases referred, partly indicative of the growing clout of the IBC mechanism for resolution of stressed assets, the monetary authority noted.

The average recovery through IBC is greater than other mechanisms (SARFAESI, DRTs and Lok Adalats) and is also improving gradually, pointing to the need and efficiency of such a channel, the report said.

"Strengthening the infrastructure of the insolvency resolution process, including the proposed increase in the number of benches of the National Company Law Tribunals (NCLTs), should help reduce the overall time currently being taken for resolution under the IBC," the RBI said.

Besides recovery through various resolution mechanisms, banks are also cleaning up theirs balance sheets through sale of doubtful/ loss assets to assets reconstruction companies (ARCs) and other banks/NBFCs/financial institutions by taking haircuts, the report said.

During 2017-18, the acquisition cost of ARCs as a proportion to the book value of assets, has gone up, indicating better realisations by banks on sale of stressed assets.

While private sector banks have been most aggressive on asset sales, state-run lenders lagged, mainly owing to large haircuts and various management issues, the report said.

Source: https://www .moneycontrol.com/news/business/banks-recover-rs-40400-crore-from-defaulters-rbi-report-3337351.html

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Shanthi Gears: Buyback to drive earnings and improve capital efficiency

noreply@blogger.com (Anonymous) — Sat, 29 Dec 2018 05:19:00 +0000

Shanthi Gears, a leading supplier of industrial gears, is going through a difficult period as a result of low demand.

For a company, sitting on idle cash could be detrimental to shareholders' wealth. One alternative could be buyback of shares, if it's attractively priced.

A similar logic applies to Shanthi Gears' buyback announcement. Industrial gears, which find wide applications in almost all manufacturing activities, are in low demand as a result of the subdued capex cycle. A company such as Shanthi Gears, a leading supplier of industrial gears, is going through a difficult period as a result of low demand. Consequently, its stock has corrected by around 25 percent from its high in January 2018.

Rectifying capital allocation

At the same time, Shanthi Gears is sitting on cash and investments of close to Rs 150 crore, almost 46 percent of its net worth of Rs 335 crore. This depresses its overall return ratios. In the last fiscal, the company generated 11 percent return on capital despite having an extremely efficient business with a fixed asset to turnover ratio standing at 2.37 times and generating strong 22 percent operating margins.

In these circumstances, a buyback could prove to be a shot in the arm for the company. Shanthi Gears intends to buy back close to 50 lakh shares at Rs 140 a share costing it about Rs 70 crore. Moreover, because of the reduction in equity capital, close to 21 percent of its networth, its return on equity would improve. Besides, buying back shares at a time when earnings are depressed because of the external demand environment would mean a higher share of future earnings for existing shareholders when the earnings cycle recovers.

Over the last three years the company has delivered 11 percent compounded annual growth in sales. However, growth is likely to be higher in future as a result of the expected pick up in the private capex cycle and recovery in the manufacturing sector.

In the near term, the share buyback would also mean higher earnings per share as a result of reduction in equity capital in the current fiscal. Our calculations suggest that a 6 per cent reduction in share capital as a result of the buyback could boost estimated earnings per share for FY19 by 5 percent.

Source: https://www .moneycontrol.com/news/business/moneycontrol-research/shanthi-gears-buyback-to-drive-earnings-and-improve-capital-efficiency-3334271.html

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Bodal Chemicals benefits from favourable demand-supply dynamics

noreply@blogger.com (Anonymous) — Fri, 28 Dec 2018 04:30:00 +0000

We remain positive on the traction towards vertical integration and capacity expansion.

Dyes and dyes intermediates major Bodal Chemicals posted a recovery in topline growth, in the quarter under review, aided by better realisations, volume and exports.

Bodal Chemicals: Q2 update – Margin expansion

Bodal Chemicals’ reported a 43 percent YoY sales growth in Q2FY19 driven by increase in volume, improved realizations, higher exports and better product mix. Dyestuff volume increased by 54 percent YoY on account of higher contribution from the new capacity commissioned last fiscal (12000 tonne in March’18). Blended capacity utilisation of dyestuff facility is now about 72 percent. Further, dyes intermediates volume increased as well by 12 percent (21 percent in Q1 FY19). Export sales (47 percent of sales), with 179 percent increase YoY, has been another strong lever for the company.

Raw material prices have remained elevated though management updates that most of the input prices have stabilized, particularly that of caustic soda and PNCB (Para-nitro chloro benzene). Standalone operating profit, adjusting for forex, has improved by 250 bps YoY on account of both moderation in inputs and higher realizations.

Allied businesses on an improving track

The company expects improved performance for Trion Chemicals JV wherein operations started towards the end of Q1 FY19. Some of the raw material prices have softened and company expects business to break even by the end of fiscal year. In case of SPS Processors, subsidiary has witnessed considerable improvement in topline (2.3 times QoQ) and bottomline (1.8 times QoQ) on account of better realisations for dye intermediates.

However, thionyl chloride project completion has got delayed to Q4 FY19.

Acceleration in dyestuff share of sales

Product mix is improving. Dyestuff sales contribution has improved from 29 percent of sales to 35 percent of sales in Q2 FY19. Ramp up in utilization of new capacity is noteworthy, which is about ~60 percent in the second quarter after commissioning. Further dyestuff share is expected to improve, even more, as management has decided to increase dyestuff capacity by 6000 tonne by Q1 FY20 (estimated cost: Rs 26 crore). It is noteworthy that this expansion is ahead of the original schedule and would put the total dyestuff capacity to 35000 tonne after expansion.

In the near term, softening of product prices post quick surge in Q1FY19 can moderate revenue momentum. However, overall we remain positive on the traction towards vertical integration and capacity expansion. Also reiterate that ongoing environmental restrictions in both China and India is helpful is keeping a favourable supply-demand dynamics for the integrated players like Bodal Chemicals (7.9x FY20e).

Source: https://www .moneycontrol.com/news/business/moneycontrol-research/bodal-chemicals-benefits-from-favourable-demand-supply-dynamics-3097751.html

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TradeIndia Research Investment adviser.

noreply@blogger.com (Anonymous) — Thu, 27 Dec 2018 04:46:00 +0000

TradeIndia Research is India's one of the best stock advisory who caters & delivers best stock recommendation in Equity Market, Commodity Market & Forex Market. We give the most reliable advice for letting your money to flow in right.

Max India’s decision to check out of healthcare shines spotlight on regulatory risks

noreply@blogger.com (Anonymous) — Thu, 27 Dec 2018 04:17:00 +0000

The owner’s decision to exit seems to be a mixture of personal and business reasons. But the regulatory risks in the business have played a bigger role in the decision, for certain.

Max India’s decision to exit the healthcare business flies in the face of conventional thinking that India’s private healthcare business is one with immense potential. The reality appears to be somewhat different.

A trend of consolidation has taken root in the sector, with institutional money funding entrepreneurial ambitions. While IHH Healthcare eventually got hold of Fortis Healthcare, let’s not forget that the TPG-Manipal Health combine was also interested.

They will continue to be on the lookout for targets. IHH Healthcare’s acquisition itself signals tougher competition, as the parent company has deep pockets and expertise in running hospitals.

Then there are the regulatory risks that Max faces. In its FY2018 annual report, it lists them out. It has cited mandatory cashless treatment of road accident cases that will be reimbursed at government-determined rates.

Then there’s the well-known issue of price capping of coronary stents and knee implants. Margins on syringes were capped after intervention by the National Pharmaceutical Pricing Authority. The guidelines for treating patients belonging to the economically weaker sections were also made more stringent. These affected its performance in FY18, and its revenue and Ebitda both declined.

The dust on many of these issues has settled down. But the fear that more regulatory risks may be waiting has not gone away. The industry feels threatened that the measures which were acceptable till some years ago are now being seen as extortionist. That may change the way the promoter, the majority shareholder in the business, perceives the business risk.

In fact, the September quarter results had shown Max Healthcare’s performance improve with its Ebitda margin recovering sequentially. In its conference call post-results, the company management had talked about a 5-7 year investment plan that would see its number of beds double to 5,000 in number. It said that the long-term trajectory was intact.

So, what changed their mind then? The group chairman Analjit Singh’s interviews to Mint and Business Standard have some answers. He talks about how the business has changed in two years (in September 2016 he had told Mint that this was a focus business for them with huge growth opportunities).

The concentration in the National Capital Region had become a risk for them. He talks about a 10-year timeframe in which to invest and scale up this business to make it viable. It appears that he did not have the appetite to invest that kind of capital and devote that kind of time to the business. And, he does not seem to have had anyone else he could depend on to do it too.

The owner’s decision to exit seems to be a mixture of personal and business reasons. But the regulatory risks in the business have played a bigger role in the decision, for certain. After acquiring Max Healthcare, Radiant Life Care and KKR will now attempt to prove that their business model can work despite the existing risks in the business and new ones that may be lying in wait.

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Adjusting to Brexit may not be tough for India Inc

noreply@blogger.com (Anonymous) — Wed, 26 Dec 2018 04:45:00 +0000

The main focus of a large number of Indian companies investing in the UK has been primarily the British market. Still, some of them have been using Britain as a gateway to Europe. A few may need to relocate their businesses.

With United Kingdom Prime Minister Theresa May’s decision to delay vote on Brexit deal in the British Parliament, the issue has become messier. She has survived a confidence vote within her own Conservative Party. However, with 117 MPs voting against her leadership it’s clear it is not going to be easy to get approval for any Brexit deal in Parliament

Under present circumstances, nobody can possibly predict what is going to happen in coming months. Still, there are three plausible scenarios. First, after a few more dramatic happenings and couple of meetings with European Union (EU) leaders, the existing deal is agreed upon with a few modifications or clarifications. Second, things go absolutely wrong and we have an accidental hard Brexit on March 29, 2019. Third, there is no Brexit at all, either due to second referendum or parliamentary vote revoking Article 50 of the Lisbon Treaty.

Except for the hard Brexit scenario, Indian companies operating in the EU and the UK will not face any major difference, at least for the next couple of years. In any case, both the UK and the EU would like to avoid ‘no deal scenario’ at any cost. They know that this is going to harm both of them very seriously.

Although both the EU and the UK have now started preparing even for a no deal scenario, chances of that happening is still relatively low. Businesses in Europe are more or less ready to adjust with the existing deal. It gives them enough time to prepare for new realities.

The present deal is the least bad scenario for the UK. We also must remember that this is the only deal on the table. Except for a few possible modifications, no other deal is going to be negotiated in the remaining few months.

The main sticky point is so-called backstop, which practically means the UK will remain tied to significant EU rules till the time it is able to find a solution to avoid a hard border between Northern Ireland and the Republic of Ireland. The opposition comes from the fact that while agreeing to this solution, the UK will continue to follow EU regulations even after it exits the community. Although the transition period is scheduled to end in December 2020, it could extend further.

In a way, this arrangement also guarantees that companies will continue to do business in Europe without any serious disruptions, till the time a new trade agreement is agreed upon between the UK and the EU. In the given situation, this is maximum the UK can expect from the EU. Precisely for this reason, May asserted earlier “there is no deal that comes without a backstop, and without a backstop there is no deal”.

For Indian companies operating from the UK, the hard Brexit scenario will create many challenges. Specific sectors, which are going to be affected, include automobiles, auto components, pharmaceuticals, gems and jewellery, education and IT enabled services (ITES). They will have no time to adjust to new realities. Indian investment in the UK may see a declining trend in the next few years. The main focus of a large number of Indian companies investing in the UK has been primarily the British market. Still, some of them have been using Britain as a gateway to Europe. A few may need to relocate their businesses.

In case of a no deal scenario, negotiations on India-EU trade and investment agreement may re-start. The Brexit uncertainty has been one of the reasons responsible for the delay in re-starting negotiations. India, however, will have to revisit some of its earlier assessments. To offset negative impacts of hard Brexit, both the UK and India may also start formal negotiations for a bilateral trade and investment agreement.

Earlier it was thought with Britain’s exit, it might be easier for India to negotiate on Mode 4 services with the EU. However, with the refugee and migration crisis in Europe, it is not going to be easy with either of them.

Overall, Brexit is going to create some complications. Most probably, however, Indian companies and policy makers will have enough time to understand its implications and prepare for possible changes. The less likely event of hard Brexit could be shocking — possibly this will not happen.

Source: https://www .moneycontrol.com/news/politics/opinion-adjusting-to-brexit-may-not-be-tough-for-india-inc-3319851.html

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Oil plunges 6% as economic slowdown fears grip market

noreply@blogger.com (Anonymous) — Tue, 25 Dec 2018 06:09:00 +0000

U.S. crude futures settled at $42.53 a barrel, down $3.06 or 6.7 percent in the session. Brent crude futures settled down $3.35, or 6.2 percent at $50.47 a barrel. The market settled early ahead of the Christmas holiday.

Oil prices plunged more than 6 percent to the lowest in more than a year on Monday, pulling back sharply late in the session as fears of an economic slowdown rattled the market.

U.S. crude futures and global benchmark Brent fell to the lowest since 2017 during the session, putting both benchmarks on track to lose about 40 percent in the quarter.

"What's happening in the stockmarket is raising fears that the economy is grinding to a halt and thereby will basically kill any future oil demand," said Phil Flynn, an analyst at Price Futures Group in Chicago. "They're pricing in a slowdown in the economy if not a recession, with this drop."

The price decline during the quarter is likely to cause producers to throttle back on their output, he said.

U.S. crude futures have hit the lowest since June 22, 2017, as jitters have grown about the impact of an escalating U.S.-China trade dispute on global growth and crude demand. Brent crude is at its lowest since Aug. 17, 2017.

Markets across asset classes have come under pressure as a U.S. government shutdown intensified growth concerns. Investors have flocked to safe-haven assets such as gold and government debt at the expense of crude oil and stocks.

A gauge of stocks worldwide hurtled towards an eighth straight decline on Monday as investors ignored the U.S. Treasury secretary's actions to reinforce confidence in the economy and U.S. President Donald Trump criticized the Federal Reserve as "the only problem our economy has."

The U.S. Senate has been unable to break an impasse over Trump's demand for more funds for a wall on the border with Mexico, and a senior official said the shutdown could continue until Jan. 3.

U.S. crude futures settled at $42.53 a barrel, down $3.06 or 6.7 percent in the session. Brent crude futures settled down $3.35, or 6.2 percent at $50.47 a barrel. The market settled early ahead of the Christmas holiday.

Brent fell 11 percent last week and hit its lowest since September 2017, while U.S. futures slid to their lowest since July 2017, bringing the decline in the two contracts to 35 percent for the quarter.

The macroeconomic picture and its impact on oil demand continue to pressure prices. Global equities have fallen nearly 9.5 percent so far in December, their biggest one-month slide since September 2011, when the euro zone debt crisis was unfolding.

The U.S.-China trade dispute and the prospect of a rapid rise in U.S. interest rates have brought global stocks down from this year's record highs and ignited concern that oil demand will be insufficient to soak up any excess supply.

The Organization of the Petroleum Exporting Countries and allies led by Russia agreed this month to cut oil production by 1.2 million barrels per day from January.

Should that fail to balance the market, OPEC and its allies will hold an extraordinary meeting, United Arab Emirates Energy Minister Suhail al-Mazrouei said on Sunday.

"Oil ministers are already taking to the airwaves with a 'price stability at all cost' mantra," said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore.

Source: https://www .moneycontrol.com/news/business/markets/oil-plunges-6-as-economic-slowdown-fears-grip-market-332339If you want more information regarding the Market News & many other tips like Intraday Tips, MCX Normal Calls, Bullion Market Tips, Share Market Services, NSE & BSE Market Tips, Free MCX Market Tips , MCX Premium Tips, Bullion Energy Tips, commodity market tips.

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GST rate cuts try to be pragmatic, populist and helpful to some industries

noreply@blogger.com (Anonymous) — Mon, 24 Dec 2018 04:23:00 +0000

The rate cuts are likely to fall short of the Street’s expectations, as rates on goods such as cement and some auto parts that were in the highest 28 percent slab were not reduced.

The GST Council has decided to cut tax rates on a number of goods and a few services. While the notional revenue loss has been pegged at Rs 5500 crore, the government will hope that better compliance and consumption growth can compensate for lower rates.

The rate cuts are likely to fall short of the Street’s expectations, as rates on goods such as cement and some auto parts that were in the highest 28 percent slab were not reduced.

There was political messaging that was visible in the rate cuts. Taxes on walking sticks were cut from 12 percent to 5 percent, a nod to senior citizens who form an important vote bank. Similarly, the rate differential in movie tickets above Rs 100 and below that was maintained. Also, taxes for televisions were lowered but only for screens up to 32inches. With elections around the corner, the government will be keen to reiterate that it’s on the side of the common man.

Let’s look at some of the main rate cuts

The multiplex industry will be happy with the reduction in GST rates, from 28 percent to 18 percent on tickets above Rs 100 and from 18 percent to 12 percent on tickets below Rs 100. Since most tickets in metro locations are above Rs 100, the reduction will benefit them. The rate reduction from 28 percent has been a long-standing demand of multiplex operators. They will eventually benefit from lower taxes, although initially they may have to lower ticket prices to pass on benefits to consumers. Listed companies such as PVRand Inox Leisure should benefit.

In auto components, those falling in one category HS Code 8483, comprising transmission shafts, gears and gearboxes have also seen rates decline from 28 percent to 18 percent. This will benefit companies although the net benefit depends on how much input tax credit is being availed.

The government has also clarified on the taxation on supply of renewable energy plants, including solar power plants. While the devices and parts used to make these plants were taxed at 5 percent GST, since these plants may be set up as part of a comprehensive contract, disputes arise on the levy of tax. Thus, the tax could be 5 percent or 18 percent leading to confusion. Now, where there is an engineering services contract to set up a renewable energy plant, 70 percent of the gross value will be treated as goods with a 5 percent tax and the rest will be treated as services. This will lead to a more certain tax regime for such projects.

Although the breadth of cuts may have disappointed some, the government could introduce one more round of tax cuts when the interim budget is presented.

Among the decisions of the GST Council, the rate cuts may have got all the attention, but the setting up of a 7-member group of ministers merits equal attention. GST revenues have been falling short of original estimates, especially in some states, and this GoM has been tasked with finding out why. While the process may take time, it could set the stage for some structural changes to the GST superstructure.

It is this shortfall in revenue that is staying the government’s hand from taking up a bolder rationalisation of tax rates.

Source: https://www .moneycontrol.com/news/business/economy/quick-take-gst-rate-cuts-try-to-be-pragmatic-populist-and-helpful-to-some-industries-3319991.html

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Get Best Stock Market Tips

noreply@blogger.com (Anonymous) — Sat, 22 Dec 2018 08:01:00 +0000

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GST Council to meet on Saturday amid rate cut talk, but some states not fully on board

noreply@blogger.com (Anonymous) — Sat, 22 Dec 2018 05:17:00 +0000

The Council will also likely discuss a proposal to lower the cess on plug-in hybrid cars to bring down effective tax incidence for such vehicles from 43 percent

The Goods and Services Tax (GST) Council will meet on December 22 amid heightened expectations that the panel will cut rates on several items, although some states want the move’s impact on revenues to be fleshed out in greater detail before levies are lowered.

A discussion on the revenue position of the Centre and states, easing refund-related rules for exporters, is also likely to be on the agenda.

The Council, headed by finance minister Arun Jaitey is the highest decision making body of the new indirect tax system that came into effect from July 1, 2017.

It is also expected to take up the issue of transferring ownership of the IT backbone GST Network in a government owned company, a proposal that was approved by the Cabinet in September, sources said.

In addition, there could be discussions on reducing cess on plug-in hybrid cars, which currently falls in the 28 percent tax slab. However, the overall tax incidence for the green vehicle is 43 percent right now.

It is learnt that the road ministry has proposed bringing down the tax liability to 35 percent.

Rate cuts have always been a contentious issue as the Centre and states have to come to a consensus. In that light, the meeting assumes all the more significance, coming as it does after the recent elections in five states that saw the Congress wresting power in all the three Bharatiya Janata Party (BJP)-ruled states.

Days ahead of the meeting, Prime Minister Narendra Modi said the government wants to ensure that ‘99 percent things’ attract GST at 18 percent or lower rate.

“Today, the GST system has been established to a large extent and we are working towards a position where 99 per cent things will attract the sub-18 percent GST slab,” Modi said, while also hinting that the highest tax slab will be restricted to luxury and sin goods.

A range of goods from air conditioners to dishwashers, from television sets to digital cameras could become cheaper, if the Council expected to slashes rates to 18 percent on all products in the 28 percent slab, except demerit goods, cement and automobiles.

This could effectively set 18 percent as the highest GST tax slab, except only two broad categories of goods and services.

Over 1,200 goods and services fall into four broad tax slabs- 5, 12, 18 and 28 percent. Currently, there are close to 40 goods and services in the 28 percent slab, which comprises demerit and luxury goods, among other items.

The move comes barely four months ahead of the crucial Lok Sabha elections in April-May, 2019. The cut in rates, however, could affect GST revenues, given that the collections are still short of the budgeted target.

The last major round of rate cut happened in July when the Council decided to cut tax on 80 items. The government, then, had to forego revenue worth of Rs 10,000 crore-Rs 11,000 crore annually.

Source: https://www .moneycontrol.com/news/business/economy/gst-council-to-meet-on-saturday-amid-rate-cut-talk-but-some-states-not-fully-on-board-3316281.html

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Weekly Tactical Pick | Improving operating parameters to drive higher earnings

noreply@blogger.com (Anonymous) — Fri, 21 Dec 2018 05:14:00 +0000

At the current market price of Rs 149 a share, NTPC is trading at 1.1 times its price to book value of FY19 estimates, which very attractive

The Central Electricity Regulatory Commission (CERC) recently released draft norms for the power sector reducing the plant availability factor (PAF) threshold to 83 percent as against 85 percent earlier. Additionally, the draft also says that the plant shut down for the maintenance would not be included for the purpose of calculation of the PAF, which typically reduce the PAF by about 6-7 percent. Relaxation in the PAF would mean the companies would be able to avail incentives that are offered in terms of higher return on equity (RoE) on the regulated equity. Regulated equity is the net worth that is deployed in the operational power generation projects, which avail fixed RoE.

Key beneficiary

This brings good news for NTPC that is sitting on regulated equity close to Rs 51,000 crore. Moreover, the company and shareholders get huge big relief as the regulator kept the RoE unchanged. This was a big overhang for its stock as investors were fearing that in the falling interest rate scenario the regulator would cut the RoE offered on the regulated equity. While this would improve the operational efficiencies and return ratios, NTPC should also benefit because of the improving earnings visibility. It has expressed its intention to buy a few power plant thus utilising its cash in the books. This is in addition to its plans to add another 20000 MW of capacity in the long run including 5000 MW each in the year 2019 and 2020.

Attractive valuations

Among utilities, NTPC is the most stable company having extensive experience and strong balance sheet. Moreover, at the current market price of Rs 149 a share, it is trading at 1.1 times its price to book value of FY19 estimates, which very attractive. The stock offers a close to 4 percent dividend yield. Out of 28 analysts (based on consensus) tracking the stock 26 of them have a buy and outperformer rating on the stock with an average target price of Rs 191 a share, which is about 28 per cent higher compared to its current market price.

Source: https://www .moneycontrol.com/news/business/moneycontrol-research/weekly-tactical-pick-improving-operating-parameters-to-drive-higher-earnings-valuations-for-ntpc-3314221.html

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NITI Aayog’s ‘Strategy for New India @75’ report aims for 9-10% GDP growth

noreply@blogger.com (Anonymous) — Thu, 20 Dec 2018 03:58:00 +0000

NITI Aayog’s also aims to modernise agricultural technology, increase productivity, efficiency and crop diversification

National Institution for Transforming India (NITI) Aayog expects Indian economy to grow at 9-10 percent by 2022-23, the government’s premier policy think-tank said in its report ‘Strategy for New India @ 75.

“The objective is - steadily accelerate the gross domestic product (GDP) growth rate to achieve a target of about 8 percent during 2018-23. This will raise the economy’s size in real terms from USD 2.7 trillion in 2017-18 to nearly USD 4 trillion by 2022-23,” the report said calling for growth that is inclusive, sustained, clean and formalised.

NITI Aayog today unveiled its strategy for the country as India completes 75 years of independence in 2022. It is a detailed exposition across 41 crucial areas, that recognises the progress already made, identifies binding constraints, and suggests the way forward for achieving the clearly stated objectives.

The forty-one chapters in the document have been disaggregated under four sections--drivers, infrastructure, inclusion and governance.

“Our emphasis on reforms, market reforms, allowing entrepreneurship to grow has to be accompanied with some social consciousness of the economic planners. That is why we want this model, where you allow India to grow, allow entrepreneurship, you allow the private sector to play a very important role…utilize increased resources of the states towards better infrastructure, township, healthcare facilities. Use large part of resource to use for the poor,” finance minister Arun Jaitley said releasing the report.

The document said that a slew of measures will be required to boost both private and public investment, for India to raise its rate of investment to about 36 percent of the GDP by 2022-23 from about 29 percent in 2017-18.

To enhance public investment, India should aim to increase its tax-GDP ratio to at least 22 percent of GDP by 2022-23, the report said, adding that demonetisation and the Goods and Services Tax (GST) will contribute positively to this critical effort.

Besides, the government should rationalise corporate tax and personal income tax, ease tax compliance burden and eliminate direct interface between taxpayers and tax officials using technology.

On infrastructure, the think-tank has recommended doubling the share of freight transported by coastal shipping and inland waterways, developing an IT-enabled platform for integrating different modes of transport and promoting multi-modal and digitised mobility.

It also aims to deliver all government services at the state, district, and gram panchayat level digitally by 2022-23 though Bharat Net programme.

The report has also suggested a successful implementation of Ayushman Bharat programme, including the establishment of 150,000 health and wellness centres across the country, and rolling out the Pradhan Mantri Jan Arogya Abhiyaan (PM-JAY).

DOUBLING FARMERS’ INCOME

NITI Aayog also aims to modernise agricultural technology, increase productivity, efficiency and crop diversification.

It has called for replacing the minimum support price (MSP) by a minimum reserve price (MRP), which could be the starting point for auctions at mandis.

MSP is a price at which the government buys crops from farmers, irrespective of its price. It acts as a floor price mainly during production shortages, to protect agriculture producers from sharp falls in farm prices.

Despite higher MSP on the cost of production for Kharif crops announced by the government in budget for 2018-19, farmers have not been able to gain much.

“Raising MSP or prices can only be a partial solution to the problem of assuring remunerative returns to farmers. A long-term solution lies in the creation of a competitive, stable and unified national market to enable better price discovery, and a long-term trade regime favourable to exports,” the report said.

On the recent announcements by states such as Madhya Pradesh on farm loan waivers, NITI Aayog Vice Chairman Rajiv Kumar said that while states may offer such relief measures for the cash-strapped farmers, but the NITI Aayog has not recommended a country-wide waiver.

NITI Aayog, Member Ramesh Chand also said that ‘farm loan waivers’ are not a solution as all farmers do not benefit from it.

In fact, the government must ensure that farmers get a better price for their crops, apart from looking at crop surplus management, Chand said.

Source: https://www .moneycontrol.com/news/business/economy/niti-pitches-for-labour-reforms-higher-women-participation-social-security-3308301.html

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Stocks in the news: Tata Steel, NMDC, Ashoka Buildcon, Glenmark, Graphite India

noreply@blogger.com (Anonymous) — Tue, 18 Dec 2018 04:50:00 +0000

Godrej Industries | Glenmark Pharma | Bombay Dyeing | Bank of Baroda | Graphite India | Infibeam Avenues and Tata Steel are stocks which are in the news today.

Tata Steel: Andreas Goss, currently Chief Executive Officer (CEO) of thyssenkrupp's Steel division, will be the future Chief Executive Officer of the planned Joint Venture and chair the Management Board of thyssenkrupp Tata Steel BV. Hans Fischer, currently the CEO of Tata Steel Europe, will be the Deputy CEO & Chief Technology Officer of the Joint Venture.

Standard Chartered Plc: The Group agreed terms for the spin out of its private equity business and a sale of the majority of its private equity investment portfolio to funds managed by ICG Strategic Equity, part of Intermediate Capital Group Plc (ICG).

NMDC: Company fixes lump ore price at Rs 3,250 per tonne and price of fines at Rs 2,860 per tonne from December 13.

Ashoka Buildcon: Subsidiary raises Rs 150 crore from Morgan Stanley India Infrastructure.

Godrej Industries: National Company Law Tribunal approved the Scheme of Amalgamation of Vora Soaps Limited with company.

Bank of Baroda to shut three overseas branches by June

Glenmark Pharma: Company announces new data on GBR 1302, a HER2xCD3 Bispecific antibody, presented at the ESMO Immuno-Oncology Congress 2018.

Bombay Dyeing: Company has given its consent by signing the shareholder's resolution of its subsidiary in Indonesia i.e. PT Five Star Textile Indonesia (PTFS) for closure of the same.

Graphite India: Kamataka State Pollution Control Board has renewed the consent for operations at Bengaluru graphite electrode plant for a period up to 30.6.2020 only with condition to shift the unit from the existing location.

IL&FS Transportation Networks: The interest due and payable on December 17 on the NCDs was not paid to the debenture holders due to insufficient funds.

Mahindra & Mahindra Financial Services: India Ratings reaffirmed its AAA/Outlook-Stable rating for Rs 10,000 crore worth public issue of non-convertible debentures.

Infibeam Avenues: Suvidhaa Infoserve Private Limited acquires 5 percent equity stake in company's subsidiary NSI Infinium Global Private Limited.

RITES: Board fixed December 28 as the record date for the purpose of payment of dividend.

Punjab and Sind Bank revised MCLR rate w.e.f. December 16

Goldiam International: Company announces the closure of the buyback with effect from December 17.

M&M signed agreement with Sampo Rosenlew Oy, Finland, an Associate of the Company to increase stake from 35% to 49.04%

Mac Hotels: Goa based public listed company will add another 160 rooms effective from 1st January 2019, taking the total number of rooms to 238.

Corporation Bank - ICRA reaffirmed rating on certificate of deposits of Rs 30000 crore to ICRA A1+

Sadbhav Infra

Ongoing litigation amongst the Company, Sadbhav Engineering on the one side and Montecarlo on the other have arrived at amicable settlement

NCLT and High Court of Gujarat dispose the matter and accordingly the said legal matters now stands closed

Bulk Deals on December 17

DRS Dilip Roadlines: Babulal Vadilal Shah sold 94,400 shares of the company at Rs 75.5 per share on the NSE.

Godha Cabcon Insulat: Mark Corporate Adviosrs sold 72,000 shares of the company at Rs 30 per share on the NSE.

Manaksia Steels: Payal Agrawal bought 3,38,715 shares of the company at Rs 26.91 per share on the NSE.

BC Power Controls: Deepen Bharat Shah bought 3,00,000 shares of the company at Rs 28.71 per share on the BSE.

Analyst or Board Meet/Briefings

Sandhar Technologies: Board meeting is scheduled on February 2, 2019 to consider the un-audited standalone financial results, for the quarter and nine months ended December 2018.

JCT Limited: Board meeting is scheduled on December 31 to consider fresh issuance of equity shares aggregating to Rs 9.16 crore on preferential basis to term lenders.

Tube Investments of India: Meeting with institutional investors/analysts on the unaudited financial results for the second quarter ended September 2018 is scheduled on December 18.

Dishman Carbogen Amcis: Management meet and plant visit at company's Bavla plant with certain institutional investors and analysts has been scheduled on December 18 and 19.

Genus Power Infrastructures: Officials of the company will be meeting investors and analyst at its plant in Jaipur on December 18.

Great Eastern Shipping: Company's officials will be meeting ICICI Pru AMC on December 18.

Source: https://www .moneycontrol.com/news/business/markets/stocks-in-the-news-tata-steel-nmdc-ashoka-buildcon-glenmark-graphite-india-3300311.html

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MCX SUPPORT & RESISTANCE LEVEL Update by TradeIndia Research.

noreply@blogger.com (Anonymous) — Mon, 17 Dec 2018 05:47:00 +0000

MCX Free Tips

MCX SUPPORT & RESISTANCE LEVEL

GOLD FEB FUTURE

R2–31650
R1-31550
S1-31350
S2-31250

SILVER MAR FUTURE

R2 –38400
R1- 38200
S1-37800
S2-37600

CRUDE OIL DEC FUTURE

R2 –3760
R1-3730
S1-3660
S2-3630

COPPER FEB FUTURE

R2 –448
R1-444.50
S1-437.50
S2-433

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Focus shifts to 2019 elections: Over 20 growth-oriented stocks to add to your portfolio

noreply@blogger.com (Anonymous) — Sat, 15 Dec 2018 05:00:00 +0000

Morgan Stanley continues to back growth at a reasonable price and believes the way to construct portfolio is to buy stocks of companies with the highest delta in return on capital

Assembly election results for three key states — Madhya Pradesh, Chhattisgarh and Rajasthan — threw a big surprise for D-Street with BJP losing all three states. However, bigger surprise was the rally seen after the results were out.

Most experts, who Moneycontrol spoke to before the results were announced, were of the view that if BJP closes with 0-3 tally, there would be a high probability that Nifty would head towards 10,100-levels. However, a three-day rally actually put the index above 10,700.

The only setback on December 11 morning for market was resignation of Urijit Patel that was announced an evening before. While he cited personal reasons for the decision, but it comes in the backdrop of the RBI-government differences over several issues. The announcement induces volatility on D-Street for some time.

Though, appointment of Shaktikanta Das as the new governor calmed nerves, and emergence of one single party with a clear majority boosted sentiment eventually pushing Sensex by about 1,000 points in just three trading sessions.

The journey from here on could be a rocky one as domestic and foreign investors will shift their focus to General Elections scheduled for May 2019. The outcome of the 2019 elections will determine the policy direction for next 5 years.

Well, a 0-3 score of BJP is not a positive sign but history suggested that investors vote differently in assembly elections and Lok Sabha elections.

Anecdotal evidence suggests that there is no direct co-relation between the outcome of these ‘semi-final’ state polls and the Lok Sabha polls (2004, 2009 and 2014 election results point toward the same).

But, what does this tell about the investment strategy? Investors should not put too much focus on the assembly election results and use dips to get into fundamentally strong stocks, and at the same time, reduce their beta play in the portfolio to safeguard from volatility.

“Going forward, the hangover of state election results will recede, we expect the focus to revert to fundamentals, albeit with continued elevated volatility. Overall, macros have eased out for India in the last two months with the correction in crude oil prices,” Motilal Oswal said in a report.

“From an earnings perspective, we expect domestic cyclical driven by financials to drive earnings in 2HFY19, taking over from global cyclical which were driving earnings growth lately,” it said.

The domestic brokerage firm further added that their portfolio construction is biased towards largecaps and also stocks with strong earnings visibility, resilient to macro risks and reasonable valuations. Key stocks are ICICI Bank, HDFC, SBI, Maruti Suzuki, HUL, Titan Company, Infosys, L&T, RBL Bank, TeamLease, IGL, Indian Hotels, M&M Financial Services.

Key risk for markets would be if the domestic equity investors, who started to invest on the back of Modi's win in May 2014, start to reduce new investments, highlights CLSA in a note.

Also, an analysis conducted by the global investment bank highlights competitive populism by the BJP and the Congress, with farm loan waivers, unemployment grants, and farmer handouts. This is good for consumption but bad for a capex cycle recovery.

Both BJP and Congress had promised farm-loan waivers of up to Rs 2,00,000 per farmer in the states that just went to polls. In addition, Congress had promised pensions and loan subsidies/removal of GST on agricultural equipment to farmers.

“This sets the tone for poll promises ahead of the 2019 Lok Sabha elections. Implementation of such poll promises would reduce the government’s fund availability for infrastructure even as the private sector is yet to step up infrastructure investments,” added the CLSA note.

The global investment bank added that consumption plays, particularly rural ones, should benefit from such handouts. The related top ideas are M&M, Colgate Palmolive India, Crompton Consumer, ITC, TTK Prestige, Zee Entertainment, Eicher Motors and Maruti Suzuki.

Policy making will be important to chart the course for markets in 2019, feel experts. As soon as the political noise will go down, chatter about growth and earnings will pick up. One key pain point highlighted in assembly elections was the rural distress. Hence, there could be an enhanced focus on the rural and agricultural economy.

Strategists at Morgan Stanley feel that the political cycle (measured as policy certainty) is likely to turn down, growth is likely move higher, and credit growth seems to be at the beginning of a new cycle. They also believe terms of trade are improving, rates are in a bit of a pause before continuing their rise, and profit margins appear to be at the start of a new up cycle.

Morgan Stanley continues to back growth at a reasonable price and believes the way to construct portfolio is to buy stocks of companies with the highest delta in return on capital.

They expect market performance to broaden and hence also like midcaps where the forward growth is not reflecting share price performance.

Source: https://www. moneycontrol.com/news/business/markets/focus-shifts-to-2019-elections-over-20-growth-oriented-stocks-to-add-to-your-portfolio-3286171.html

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MCX SUPPORT & RESISTANCE LEVEL By TradeIndia Research.

noreply@blogger.com (Anonymous) — Fri, 14 Dec 2018 06:21:00 +0000

MCX Free Tips

MCX SUPPORT & RESISTANCE LEVEL

GOLD FEB FUTURE

R2–31750
R1-31650
S1-31450
S2-31350

SILVER MAR FUTURE

R2 –38700
R1- 38500
S1-38000
S2-37800

CRUDE OIL DEC FUTURE

R2 –3820
R1-3790
S1-3730
S2-3700

COPPER FEB FUTURE

R2 –448
R1-444.50
S1-437.50
S2-433

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Govt may tighten rules for companies not spending CSR funds: Report

noreply@blogger.com (Anonymous) — Wed, 12 Dec 2018 04:26:00 +0000

These new restrictions on CSR funds are part of a list of proposed amendments to the Companies Act, 2013, that the government will take up during the Winter session of Parliament

Companies not spending their entire corporate social responsibility (CSR) corpus and diverting funds to their balance sheets will now have to declare the amount not spent in their annual report, according to a report by The Hindu Business Line.

Moreover, companies will have to transfer the unspent funds to a separate bank account and spend it within three years, the news daily reported.

These new restrictions on CSR funds are part of a list of proposed amendments to the Companies Act, 2013, that the government will take up during the Winter session of Parliament, sources told the paper.

The amendment may make CSR spending mandatory, as against the current practice of either 'complying' (spending) or 'explaining' why the funds were not spent.

The Corporate Affairs Ministry recently announced that it is examining the records of the top 1,000 companies that were required to spend under their CSR initiative.

Disclosures by 77 companies for FY18 showed unspent amounts equalling a third of their prescribed CSR spending, data from PRIME Database revealed. Median spending of companies has slightly improved over the years to 69.98 percent of the total corpus in FY18, from 42.33 percent in FY15.

Of the 6,286 companies under government scrutiny, most firms reportedly spent less than the mandated amount in April-November of 2016-17, the news daily reported. About 2,203 firms spent more than the required amount during the same period.

A high-level committee recently set-up to strengthen CSR norms has proposed amendments to the existing guidelines.

The amendments seem to force companies to spend money earmarked towards CSR rather than letting them accrue it on the balance sheet. Keeping the money reserved but unspent does not serve any purpose," a legal expert told the paper.

Source: https://www .moneycontrol.com/news/business/govt-may-tighten-rules-for-companies-not-spending-csr-funds-report-3275661.html

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MCX SUPPORT & RESISTANCE LEVEL Update By TradeIndia Research.

noreply@blogger.com (Anonymous) — Tue, 11 Dec 2018 05:48:00 +0000

MCX Free Tips

MCX SUPPORT & RESISTANCE LEVEL

GOLD FEB FUTURE

R2–32200
R1-32100
S1-31900
S2-31800

SILVER MAR FUTURE

R2 –38700
R1- 38500
S1-38200
S2-38000

CRUDE OIL DEC FUTURE

R2 –3760
R1-3730
S1-3670
S2-3640

COPPER FEB FUTURE

R2 –446
R1-443.50
S1-438.50
S2-435

Visit: TradeIndia Research

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Stocks in the news: Axis Bank, IOC, Ashoka Buildcon, Uflex, Texmaco Rail, Mangalam Drugs

noreply@blogger.com (Anonymous) — Mon, 10 Dec 2018 04:53:00 +0000

Here are stocks that are in the news today:

Axis Bank: Board appointed Amitabh Chaudhry as an Additional Director of the bank and to hold office as such till the conclusion of the ensuing Annual General Meeting and as the Managing Director & CEO of the bank, for a period of 3 years, with effect from January 1, 2019. Board approved the reappointment of Samir Barua, Som Mittal and Rohit Bhagat as Independent Directors of the bank for their second consecutive term from April 1, 2019 upto the expiry of their respective tenure of 8 years.

Alembic Pharma - meeting of NCD Committee will be held on December 14 to consider and approve the issue and allotment of unsecured

listed redeemable non-convertible debentures (NCDs) of upto Rs 350 crore on private placement basis

IOC board meet on December 13 to consider buyback of equity shares and interim dividend for the Financial Year 2018-19

Ashoka Buildcon: Company received Letter of Acceptance by Rail Vikas Nigam Limited, for the project in connection with 3rd Line from Sonnagar to Garhwa Road in Dhanbad Division of East Central Railway, Bihar and Jharkhand in 2 packages. The aggregate accepted bid value of the project is Rs 794.20 crore.

Escorts: Company has executed the business transfer agreement for transferring the existing RT crane business of the company as a going concern on a slump sale basis to the JV (with Tadano Limited, Japan) for an amount not exceeding Rs 35 crore.

United Breweries: Steven Bosch, Director and Chief Financial Officer of the company tendered resignation.

Mangalam Drugs & Organics: Unit-1 facility was recently inspected by WHO prequalification team and the company has received the WHO Pre-qualification approval for Unit-1.

Punjab and Sind Bank board meeting on December 12, 2018 to consider issue of equity shares by way of QIP upto an amount of Rs 500 crore

IL&FS Engineering and Construction Company: Ganapathi Ramachandran, Non-Executive Independent Director of the company tendered resignation from the directorship of the company.

Tamil Nadu Newsprint & Papers: ICRA reaffirmed A (Negative) rating for fund based term loan worth Rs 1,858 crore.

Bank of Baroda issues Basel III Compliant Tier II Bonds worth Rs 971.50 crore on private placement basis

IFCI Q2: Standalone loss at Rs 16.55 crore versus loss at Rs 293.65 crore; revenue at Rs 432.94 crore versus Rs 763.50 crore YoY.

Brigade Enterprises: Brigade Group announces the launch of Parkside- Independent living for seniors, across Bangalore.

Vodafone Idea - Brickwork has revised NCD rating to BWR AA- (outlook negative) from BWR AA

Essel Propack: Company issued commercial papers for Rs 50 crore.

Seamec: Company entered into a Charter Party with Supreme Hydro Engineering Pvt Ltd for charter hire of vessel 'Seamec Princess' for working at Mumbai High Offshore. The tenure of the contract is for a firm period of 150 days with option for extension. The value of Charter during firm period is $3.08 million.

VXL Instruments: Board appointed Kishan S Rao as the Chief Financial Officer (CFO) of the company.

Pritish Nandy Communications: Company announced the launch of the first season of its 10 episode Amazon Original show 'Four More Shots Please' to be streamed on Amazon Prime from January 25 2019.

Arrow Greentech: Subsidiary Avery Pharmaceuticals Private Limited (Arrow Rx) received an approval for site plan to manufacture Mouth Dissolving Strips from Food & Drugs Control Administration (FDA}.

Uflex: Company has entered into an agreement to acquire 100 percent shares of Flex Chemicals Private Limited, Russia.

Capital India Finance: Board approved the issue of upto 3,45,48,560 equity shares at an issue price of Rs 72 per share, on rights basis, aggregating up to Rs 248.75 crore; and fixed rights entitlement ratio at 4:5.

Precision Camshafts: Mahesh A Kulkarni, Company Secretary and Compliance officer of the company has resigned from the company.

Pritika Auto Industries: Board approved to increase in the limit of investment by foreign institutional investors (FIls) and non resident individuals (NRIs') in the company's equity share capital.

Bulk Deals on December 7

Punj Lloyd: IFCI further sold 23,67,024 equity shares of the company at Rs 4.52 per share on the NSE.

Texmaco Rail: Aequitas Investment Consultancy Private Limited - PMS purchased 34,04,200 shares of the company at Rs 51 per share. However, Equity Intelligence India sold 17,80,364 shares at Rs 51.01 per share and Equity Intelligence India Private Limited [PMS] sold 11,45,241 shares at Rs 51.02 per share.

Sandhar Technologies: Company's officials will be meeting SPA Capital Services on December 11.

Gopal Iron & Steels: Board meeting is scheduled on December 15 to consider sale of asset of the company.

Gallantt Metal: Extraordinary General Meeting to be held on January 4, 2019.

Asian Granito India: Extraordinary General Meeting will be held on January 3, 2019.

Indian Oil Corporation: Board meeting is scheduled on December 13 to consider buyback of the fully paid-up equity shares of the company and declaration of interim dividend for the financial year 2018-19.

Titan Company: Company's officials will be meeting fund houses or insurance firms on December 10, 12 and 14.

Shriram City Union Finance: Company's officials will be meeting analysts/institutional investors/brokers on December 10, 11, 12 and 13.

Infosys: Mohit Joshi - President & Head, Banking, Financial Services & Insurance (BFSI), Healthcare and Life Sciences; Head Infosys Brazil and Infosys Mexico and Jayesh Sanghrajka - Interim CFO will participate in a Non-Deal Roadshow in London on December 10 and 11.

Globus Spirits: Company's officials will be meeting LIC Mutual Fund, New Horizon Investments, ICICI Prudential Asset Management, Edelweiss Securities on December 10.

IIFL Holdings: Company's officials will be meeting Southeastern Asset Management on December 10.

HEG: Few Analysts/Investors are visiting the company's plant at Mandideep, Madhya Pradesh on December 10.

Bhansali Engineering Polymers: Jayesh Bhansali - Executive Director cum CFO of the company would meet the analyst/Institutional investor(s) in a conference arranged by Ambit Capital Pvt. Ltd., on December 10.

Supreme Infrastructure India: 35th Annual General Meeting of the company is scheduled to be held on December 31.

Lesha Industries: Board meeting is scheduled on December 26 to consider the sub division/ split of equity shares of the company.

Alembic Pharmaceuticals: Meeting of the NCD Committee of the Company will be held on December 14 to consider the issue and allotment of Unsecured Listed Redeemable Non-Convertible Debentures (NCDs) of upto Rs 350 crore on private placement basis.

Punjab & Sind Bank: Board meeting is scheduled to be held on December 12 to consider issue of equity shares by way of QIP upto an amount of Rs 500 crore.

Finolex Industries: Company's officials will be meeting Ventura Securities on December 10.

PPAP Automotive: Company's officials will be attending conference of analysts and investors organised by Ambit Capital on December 10.

Shoppers Stop: Company's officials will be meeting Martin Lau, Managing Partner and Vinay Agarwal, Director of First State Stewart Asia, on December 11; Anand Shah, Sr. VP Consumer of Axis Capital - Institutional Equities on December 12, Nikhil Desai and Rushabh Sheth, Directors of Karma Capital, Harsh Shah of CGS-CIMB Securities (India) Pvt. Ltd. on December 12.

Panyam Cements & Mineral Industries: 62nd Annual General Meeting of the company is to be held on December 31.

RCL Retail: Eighth Annual General Meeting of the company is scheduled to be held on December 29.

https://www .moneycontrol.com/news/business/markets/stocks-in-the-news-axis-bank-ioc-ashoka-buildcon-uflex-texmaco-rail-mangalam-drugs-3269681.html

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Stocks in the news: Zydus Wellness, Khadim India, HCL Tech, NHPC, Wipro

noreply@blogger.com (Anonymous) — Fri, 07 Dec 2018 04:09:00 +0000

Here are stocks that are in the news today:

NHPC: Company has been declared as the successful resolution applicant by the Committee of Creditors (CoC) of Lanco Teesta Hydro Power Limited subject to the final approval by adjudicating authority.

IBM to sell some of its software products to HCL for $1.8 billion

Khadim India: The company has issued the commercial paper for an aggregate amount of Rs 30 crore.

Cadila Healthcare and Zydus Wellness: Company entered into a share subscription agreement (SSA) with subsidiary Zydus Wellness to subscribe to 85,02,170 equity shares at an issue price of Rs 1,382 amounting to Rs 11,74,99,98,940.

Wipro: Company and Alfresco expand partnership to offer open source based digital transformation capabilities.

Sagar Cements: Consolidated cement sales increased 36.29 percent to 3,15,106 MT versus 2,31,202 MT YoY.

Punjab & Sindh Bank: Bank to consider issue of equity shares via QIP up to amount of Rs 500 crore and issue of Basel III Compliant Tier II bonds up to of Rs 1,500 crore - CNBC-TV18.

HUDCO: Board to mull raising up to Rs 1,000 crore via bonds.

Coal India: Government cuts stake in company by 2.2 percent to 72.9 percent.

IL&FS Financial Services: Company unable to service obligation of interest payment of NCDs worth Rs 52 crore due December 6 - CNBC-TV18.

Rural Electrification Corporation: Company approved JV with Maharashtra Power Utility for new projects and to sell transmission unit to Power Grid.

IL&FS Engineering and Construction Company: Bhaskar Chatterjee, Non-Executive Independent Director of the company tendered his resignation from the directorship of the company.

Nandan Denim: Vedprakash Chiripal, belonging to promoter & promoter group entities, acquired 40,000 equity shares of the company through open market on December 4.

Polycon International: Bank loan rating of the company has been revised by the rating agency, Brickwork Ratings from BB to BB- and A4+ to A4.

Bulk Deals

Kajaria Ceramics: Wasatch Advisors Inc A/C Wasatch International Growth Fund bought 10,37,576 shares of the company at Rs 435.35 per share while Abu Dhabi Investment Authority sold 10,10,000 shares at Rs 435.26 per share on the NSE.

Punj Lloyd: IFCI sold 43,97,267 shares of the company at Rs 4.98 per share on the NSE.

Shubhlaxmi Jewel Art: Kanadia Fyr Fyter Private Limited sold 80,000 shares of the company at Rs 27.5 per share on the NSE.

Vikas EcoTech: Garg Vikas sold 75,00,000 shares of the company at Rs 12 per share on the NSE.

Analyst or Board Meet/Briefings

Indo Count Industries: Company's officials will be meeting investors and analysts (participants) on December 7.

Dolphin Medical Services: 26th Annual General Meeting of the members of the company is scheduled to be held on December 29.

VIP Clothing: Company's officials will be attending conference organised by Systematix Shares & Stocks (I) Limited on December 7.

Muthoot Finance: Q2FY19 results conference will be held on December 7.

Siyaram Silk Mills: Company will be participating in Consumer /Investor Conference on December 7 in Mumbai.

Source: https://www. moneycontrol.com/news/business/markets/stocks-in-the-news-zydus-wellness-khadim-india-hcl-tech-nhpc-wipro-sagar-cements-rec-coal-india-3261711.html

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MCX SUPPORT & RESISTANCE LEVEL By TradeIndia Research.

noreply@blogger.com (Anonymous) — Thu, 06 Dec 2018 06:24:00 +0000

MCX Free Tips

MCX SUPPORT & RESISTANCE LEVEL

GOLD FEB FUTURE

R2–31500
R1-31400
S1-31200
S2-31100

SILVER MAR FUTURE

R2 –37900
R1- 37700
S1-37300
S2-37100

CRUDE OIL DEC FUTURE

R2 –3790
R1-3760
S1-3700
S2-3670

COPPER FEB FUTURE

R2 –442
R1-438.50
S1-431.50
S2-428

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MCX SUPPORT & RESISTANCE LEVEL By TradeIndia Research.

noreply@blogger.com (Anonymous) — Wed, 05 Dec 2018 06:00:00 +0000

MCX Free Tips

MCX SUPPORT & RESISTANCE LEVEL

GOLD DEC FUTURE

R2–31200
R1-31100
S1-30900
S2-30800

SILVER DEC FUTURE

R2 –36700
R1- 36500
S1-36000
S2-35800

CRUDE OIL DEC FUTURE

R2 –3770
R1-3740
S1-3670
S2-3640

COPPER FEB FUTURE

R2 –443
R1-440.50
S1-432.50
S2-428

If you want more information regarding the Market News & many other tips like Intraday Tips, MCX Normal Calls, Bullion Market Tips, Share Market Services, NSE & BSE Market Tips, Free MCX Market Tips, MCX Premium Tips, Bullion Energy Tips, commodity market tips.

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